Changhong Meiling Co. Ltd. 2025 Annual Report Full Text CHANGHONG MEILING CO. LTD.Annual Report 2025 1Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Section I Important Notice Contents and Interpretation 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.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 Report of 2025 Annual Report is authentic accurate and complete.The Company did not have directors and senior executives of the Company could not guarantee the reality accuracy and completion of the whole contents or have objections.All the directors attended the board meeting to deliberating the Report.Modified audit opinions notes □ Applicable √ Not applicable Pan-China Certified Public Accountants LLP issued a standard unqualified audit opinion for the Company’s 2025 annual financial report.Significant internal control deficiency notes □ Applicable √ Not applicable During the reporting period the Company had no significant internal control deficiencies.Risk warning of concerning the forward-looking statements with future planning involved in the annual report √ Applicable □ Not applicable Concerning the forward-looking statements with future planning involved in the Report they do not constitute a substantial commitment for investors investors and the person concerned should maintain adequate risk awareness furthermore differences between the plans forecast and commitments should be comprehended. Investors are advised to exercise caution of investment risks.Investors are advised to read the full text of the annual report and pay particular attention to the following risk factors: More details about the possible risks and countermeasures in the operation of the Company are described in the Report “XI. Outlook for the Company’s Future Development” of “Section III 2Changhong Meiling Co. Ltd. 2025 Annual Report Full TextManagement Discussion and Analysis”. Investors are advised to read the relevant content.Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn) are the media for information disclosure for year of 2026 that appointed by the Company. All public information under the name of the Company disclosed on the above said media and website shall prevail and investors are advised to exercise caution.Does the Company need to comply with disclosure requirements of the special industry: No Profit distribution pre-plan or capital reserve capitalization pre-plan deliberated by the board of directors in the reporting period √ Applicable □ Not applicable Is the statutory reserve capitalized into share capital □ Yes √ No The profit distribution proposal approved by the 28th meeting of the 11th Board of Directors is as follows: Based on the total share capital of the Company which is 1029923715 shares less the number of shares held in the dedicated securities account for share repurchase a cash dividend of RMB 2.10 (including tax) will be distributed to all shareholders for every 10 shares. No bonus shares will be issued and no capital reserves will be converted into share capital.As of the end of the reporting period the parent company had unabsorbed losses.□ Applicable √ Not applicable 3Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Contents Section I Important Notice Contents and Interpreta... 2 Section II Company Profile and Main Financial Inde... 8 Section III Management Discussion & Analysis ....... 15 Section IV Corporate Governance Environmental and .. 57 Section V Important Events ......................... 92 Section VI Changes in Shares and Shareholders ..... 184 Section VII Bond Related Situation ................ 195 Section VIII Financial reporting .................. 196 4Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Documents Available for Reference I. Financial statement carrying the signatures and seals of the Chairman principal of the accounting works and person in charge of accounting organ; II. The original audit report stamped by the accounting firm and signed and stamped by the certified public accountant.III. Original documents of the Company and manuscripts of public notices that disclosed in the website designated by CSRC in the reporting period. 5Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Definition Refers Terms to be defined Definition to Company The Company Changhong Refers Changhong Meiling Co. Ltd.Meiling or Meiling Electric to Sichuan Changhong or controlling Refers Sichuan Changhong Electric Co. Ltd.shareholder to Refers Changhong Group Sichuan Changhong Electronics Holding Group Co. Ltd.to Refers Hong Kong Changhong CHANGHONG (HK) TRADING LIMITED to Refers Meiling Group Hefei Meiling Group Holdings Limited to Refers Industry Investment Group Hefei Industry Investment Holding (Group) Co. Ltd.to Refers Changhong Air Conditioner Sichuan Changhong Air Conditioner Co. Ltd.to Refers Zhongshan Changhong Zhongshan Changhong Electric Co. Ltd.to Refers Zhongke Meiling Zhongke Meiling Cryogenic Technology Co. Ltd.to Refers Meiling Life Appliances Hefei Changhong Meiling Life Appliances Co. Ltd.to Refers Jiangxi Meiling Jiangxi Meiling Electric Appliance Co. Ltd.to Refers Mianyang Meiling Mianyang Meiling Refrigeration Co. Ltd.to Refers Hefei Industrial Hefei Changhong Industrial Co. Ltd.to Refers Ridian Technology Changhong Meiling Ridian Technology Co. Ltd.to Refers Smart Home Appliances Mianyang Changhong Smart Home Appliances Co. Ltd.to IoT Technology Refers Hefei Meiling IoT Technology Co. Ltd. 6Changhong Meiling Co. Ltd. 2025 Annual Report Full Text to Refers Changhong Huayi Changhong Huayi Compressor Co. Ltd.to Refers Zhiyijia Company Sichuan Zhiyijia Network Technology Co. Ltd.to Refers Pan-China Pan-China Certified Public Accountants LLP to Refers CSRC China Securities Regulatory Commission to Refers China Securities Regulatory Commission Anhui Province Anhui Securities Bureau to Securities Regulatory Bureau Refers SSE Shenzhen Stock Exchange to 7Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Section II Company Profile and Main Financial Indexes I. Company Profile Changhong Meiling Short form of the stock Stock code 000521 200521 Hongmeiling B Short form of the stock after None changed (if applicable) Stock exchange for listing Shenzhen Stock Exchange Name of the Company (in Changhong Meiling Co. Ltd.Chinese) Short form of the Company Changhong Meiling (in Chinese) Foreign name of the Company CHANGHONG MEILING CO. LTD.(if applicable) Abbr. of English name of the CHML Company (if applicable) Legal representative Li Xiaodong No. 2163 Lianhua Road Economic and Technological Development Zone Hefei Registered address Anhui Province Postal code of the registered 230601 address The Company was registered on November 25 1992 with the Hefei Municipal Administration for Industry and Commerce and its registered address was at Meiling Economic Development Zone Linquan Road Hefei City. On March 13 Historical changes of the 1997 the Company’s registered address was changed to No. 48 Wuhu Road Hefei Company’s registered address City. On May 19 2008 the Company’s registered address was changed to No. 2163 Lianhua Road Hefei Economic and Technological Development Zone Anhui. During the reporting period the Company’s registered address remained unchanged.Office address No. 2163 Lianhua Road Economic and Technological Development Zone Hefei Postal code of the office 230601 address The Company’s website http://www.meiling.com E-mail info@meiling.com II. Person/Way to Contact Board Secretary Securities Affairs Representative Name Yang Liuxu Xiao Li No. 2163 Lianhua Road No. 2163 Lianhua Road Contact add. Economic and Technological Economic and Technological Development Zone Hefei Development Zone Hefei 8Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Tel. 0551-62219021 0551-62219021 Fax. 0551-62219021 0551-62219021 E-mail liuxu.yang@meiling.com li.xiao@meiling.com III. Information Disclosure and Storage Location The stock exchange website where the Company discloses Shenzhen Stock Exchange (www.szse.cn) its annual report Name and website of the media where the Company Securities Times China Securities Journal and Juchao discloses its annual report Website (www.cninfo.com.cn) Board Office 2nd Floor Administrative Center the The Company’s Annual Report Storage Location Company’s Office Building IV. Changes in Registration Unified social credit code 9134000014918555XK Changes in the Company’s main business since listing No changes (if any) 1. In October 1993 after the Company’s initial public offering the controlling shareholder was Hefei Meiling Industrial Corporation (renamed Hefei Meiling Group Co. Ltd. on May 23 1994) which exercised the Company’s controlling rights and the management rights of state-owned assets on behalf of the Hefei Municipal State-owned Assets Management Office. 2. From November 1997 to May 2003 the Company’s controlling shareholder was Hefei Meiling Group Holdings Limited (established based on the original Hefei Meiling Group Co. Ltd.hereinafter referred to as “Meiling Group”) a wholly state-owned company responsible for the operation of state-owned capital within the scope authorized by the Hefei Municipal State-owned Assets Supervision and Administration Commission to preserve and increase the value of state- owned assets. 3. On May 29 2003 Meiling Group signed a share transfer agreement with Shunde Greencool Enterprise Development Company Limited (hereinafter referred to as "Greencool") to transfer 82852683 state-owned shares held by it in the Company to Greencool. After the completion of the transfer Greencool became the Company’s largest shareholder.Changes in the 4. In accordance with the spirit of the Notice on the Handling of Issues Related to the Acquisition of controlling State-owned Shares of Listed Companies by Greencool (G.Z.F.C.Q. [2006] No. 44) jointly issued shareholder by the State-owned Assets Supervision and Administration Commission (SASAC) of the State (if any) Council and the Ministry of Finance in April 2006 Meiling Group procedurally and legally reclaimed 82852683 shares of Meiling Electric that had been transferred to Greencool. In September 2006 the Hefei Arbitration Commission’s Award ([2006] H.Z.Z. No. 104) confirmed that the share transfer contract signed between Meiling Group and Greencool was invalid and Greencool returned the 82852683 state-owned corporate shares of Meiling Electric to Meiling Group. In return Meiling Group returned the corresponding share price to Greencool. On December 29 2006 the 82852683 shares of Meiling Electric were transferred from Greencool to Meiling Group and Meiling Group became the controlling shareholder of Meiling Electric again. 5. On May 18 2006 and January 11 2007 Meiling Group signed the Share Transfer Agreement of Meiling Electric and Supplementary Share Transfer Agreement of Meiling Electric with Sichuan Changhong and Changhong Group transferring 82852683 of the 123396375 shares it held to Sichuan Changhong and Changhong Group. Sichuan Changhong acquired 45000000 shares (representing 10.88% of the Company’s total share capital) and became the Company’s largest shareholder while Changhong Group acquired 37852683 shares (representing 9.15% of the 9Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Company’s total share capital) and became the Company’s third-largest shareholder. 6. On October 29 6.2008 Changhong Group and Sichuan Changhong entered into the Equity Transfer Agreement of Hefei Meiling Co. Ltd. pursuant to which Changhong Group transferred 32078846 restricted tradable A shares of Meiling Electric to Sichuan Changhong by agreement. On December 23 2008 the transfer was approved by the State-owned Assets Supervision and Administration Commission of the State Council in the Reply on Issues Concerning the Transfer of Shares Held by State-owned Shareholders of Hefei Meiling Co. Ltd. (G.Z.C.Q. [2008] No. 1413).On January 21 2009 the securities transfer registration procedures were completed with the China Securities Depository and Clearing Corporation Limited Shenzhen Branch and Sichuan Changhong became the Company’s largest shareholder. 7. Sichuan Changhong increased its shareholding in the Company through participation in the Company’s targeted additional issuance and through secondary market purchases of the Company’s shares by Sichuan Changhong and its concerted party Hong Kong Changhong. As of December 31 2025 Sichuan Changhong and its concerted party Hong Kong Changhong collectively held 281832434 shares of the Company representing 27.36% of the Company’s total share capital. Sichuan Changhong directly holds 248457724 A-shares representing 24.12% of the Company’s total share capital and Hong Kong Changhong holds 33374710 B-shares representing 3.24% of the Company’s total share capital (of which Hong Kong Changhong holds 6296913 B-shares through Phillip Securities (Hong Kong) Limited representing 0.61%).V. Other Relevant Information (I) Accounting firm engaged by the Company Name of the accounting firm Pan-China Certified Public Accountants LLP No. 128 Xixi Road Lingyin Sub-district Xihu District Address of the accounting firm Hangzhou City Zhejiang Signature of accountants Li Yuanliang and Peng Yahui (II) Sponsor engaged by the Company for continuous supervision during the reporting period □ Applicable √ Not applicable (III) Financial advisor engaged by the Company for continuous supervision during the reporting period □ Applicable √ Not applicable VI. Main Accounting Data and Financial Indexes Does it have retroactive adjustment or re-statement on previous accounting data □ Yes √ No Retroactive adjustment or re-statement Changes in the 2025 2024 current reporting 2023 period compared 1 0Changhong Meiling Co. Ltd. 2025 Annual Report Full Text with the same period of the previous year Operating Revenue 30407926517.7028601036014.966.32%24377974386.94 (RMB) Net profit attributable to shareholders of the 410409936.09 699270051.82 -41.31% 735828796.67 listed company (RMB) Net profit attributable to shareholders of the listed company 337402364.91 690447639.63 -51.13% 744635309.81 after deducting non- recurring gains and losses (RMB) Net cash flows generated from 860090506.713970257217.96-78.34%2072909430.47 operating activities (RMB) Basic earnings per 0.39960.6790-41.15%0.7144 share (RMB/share) Diluted earnings per share 0.3996 0.6790 -41.15% 0.7144 (RMB/share) Decrease by 4.46 Weighted average 6.72%11.18% return on net assets percentage points 13.40% Changes in the end of the current reporting period End of 2025 End of 2024 End of 2023 compared with the same period of the previous year Total assets (RMB) 22302792548.16 23972603896.48 -6.97% 19638615277.46 Net assets attributable to shareholder of 6083548865.34 6085800940.38 -0.04% 6061337941.39 listed company (RMB) The Company's net profit before and after deducting non-recurring gains and losses for the last three accounting years has been negative and the most recent audit report indicates uncertainty regarding the Company’s ability to continue as a going concern □ Yes √ No During the reporting period the lowest of the audited total profit net profit and net profit after deducting non-recurring gains and losses was negative.□ Yes √ No 1 1Changhong Meiling Co. Ltd. 2025 Annual Report Full Text VII. Accounting Data Difference under Domestic and Foreign Accounting Standards (I) Difference of the net profit and net assets disclosed in financial report under both IAS (International Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles) □ Applicable √ Not applicable The Company has no difference of the net profit and net assets disclosed in financial report under both IAS (International Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles) in the reporting period.(II) Difference of the net profit and net assets disclosed in financial report under both foreign accounting rules and Chinese GAAP (Generally Accepted Accounting Principles) □ Applicable √ Not applicable The Company had no difference of the net profit or net assets disclosed in financial report under either foreign accounting rules or Chinese GAAP (Generally Accepted Accounting Principles) in the reporting period.(III) Reasons for the differences of accounting data under accounting rules in and out of China □ Applicable √ Not applicable VIII. Key Financial Indicators by Quarter Unit: RMB Q1 Q2 Q3 Q4 Operating Revenue 7360074545.63 10711441296.52 7321413995.48 5014996680.07 Net profit attributable to 181668589.37235518755.971219065.64-77996474.82 shareholders of the listed company Net profit attributable to shareholders of the listed company 173774809.05 217272315.48 59980739.90 -113625499.52 after deducting non- recurring gains and losses Net cash flows generated from -1285257080.53 2645830742.24 -15678547.39 -484804607.61 operating activities Do the above financial indicators or their totals differ significantly from the relevant financial indicators disclosed in the Company’s quarterly or semi-annual reports 1 2Changhong Meiling Co. Ltd. 2025 Annual Report Full Text □ Yes √ No IX. Items and Amounts of Non-recurring Gains and Losses √ Applicable □ Not applicable Unit: RMB Items Amount in 2025 Amount in 2024 Amount in 2023 Description Gains or losses on disposal of non-current assets (including the reversal of previously -8229538.39 -4568990.35 1880089.33 recognized asset impairment provisions) Government grants recognized in profit or loss for the current period (excluding those closely related to the Company’s normal operations 85607843.5195130581.9080747233.76 in compliance with 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 Found more in financial liabilities held by"Financial cost” non-financial enterprises and“Investmentgains or losses from disposal -5830767.37 -109763982.52 -91667835.90income” and of such assets and liabilities“Income from fairother than effective hedgingvalue changes” activities related to the Company’s normal operations Reversal of impairment Found more in provisions for receivables 14293005.32 28600649.28 4547547.09 “Accountstested for impairment receivable" individually The current net profit or loss of subsidiaries from the beginning of the period to the 1918902.01 consolidation date resulting from a business combination under common control Debt restructuring gains and 95400.74 losses Found more in Other non-operating income "Non-operation and expenses other than the 4977507.67 3048181.61 6704743.84 income" and above items "Non-operation expenses" Less: impact on income tax 11866427.43 -4813416.23 -377847.36 Effect of minority 6039452.8710356345.9711396138.62 interests (after tax) Total 73007571.18 8822412.19 -8806513.14 -- 1 3Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 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. 1 4Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Section III Management Discussion & Analysis I. Principal Business of the Company During the Reporting Period The Company is one of the important electrical appliance manufacturers in China with four domestic manufacturing bases in Hefei Mianyang Jingdezhen and Zhongshan as well as overseas manufacturing bases in countries such as Indonesia. After more than 40 years of development the Company has evolved from a single refrigerator product line to a new multi- category collaborative ecosystem encompassing refrigerators (freezers) air conditioners washing machines major kitchen appliances small home appliances and biomedical cryogenic storage equipment.The Company is a national level benchmark enterprise for technological innovation carefully building its core competitiveness through technological and product innovation. With the advanced R&D team and advanced technology accumulation Meiling has made continuous breakthroughs in key technological fields such as intelligence preservation thin wall odourlessness energy saving air cooling deep cooling simulation ultra-thin cleaning and clothing care. The Company has a comprehensive system for technological innovation and quality control. Based on international management system certifications such as ISO9001 and ISO14001 and relying on multiple national core platforms and qualifications the Company continues to strengthen its R&D and manufacturing capabilities. The Company possesses a National-level Enterprise Technology Center a National-level Industrial Design Center and holds titles including National Technology Innovation Demonstration Enterprise National Industrial Product Green Design Demonstration Enterprise and National Postdoctoral Research Workstation. It has also established a 5G Industrial Internet Innovation Application Lab and founded Anhui Province's first RoHS Public Testing Center Anhui Green & Energy-Efficient Refrigerator Engineering Technology Research Center Anhui Energy-Saving & Freshness-Preserving Green Refrigerator Engineering Research Center and Anhui Smart Home Appliance Manufacturing Innovation Center ensuring full-chain quality assurance in R&D and manufacturing. In addition the Company also operates provincial-level innovation platforms such as the Anhui Green & Energy-Efficient Refrigerator Engineering Technology Research Center. In addition the Company also operates provincial-level innovation platforms such as the Anhui Green & Energy-Efficient Refrigerator Engineering Technology Research Center. It has also obtained industry-leading certifications including AAA-Level Excellence in the Upgraded Integration of Informatization and Industrialization Management System and a spot among China's Top 50 Industrial Digitalization Leading Enterprises further strengthening its technological leadership R&D efficiency and smart manufacturing capabilities.In recent years the Company has won multiple national honors such as the "Smart 1 5Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Refrigerator Intelligent Manufacturing Pilot Demonstration Project" "National Green Factory" "National Quality Leader in Home Appliances" "National Technology Innovation Demonstration Enterprise" and "China Industry-University-Research Collaborative Innovation Demonstration Enterprise". In 2025 the Ministry of Industry and Information Technology (MIIT) announced the first batch of "China Consumer Premium Brands" and Changhong Meiling was successfully selected. At the same time with its strong innovation product strength and brand power the Company received multiple honors for technological and product innovation continuously showcasing its capabilities in smart innovation technology. At the 2025 Digital Ecosystem Conference the Company won two prestigious "Top Cloud Connect Awards" for its outstanding performance in technological breakthroughs and product innovation namely "2025 Ecosystem Brand" and "2024-2025 Trending Product." At the 2025 Refrigerator Industry Development Conference the National Household Appliance Industry Information Center officially awarded the Company the title of "Healthy and Smart Manufacturing Brand" further highlighting the Company’s comprehensive brand development strength.Since 2025 the Company's M-Fresh Premium Five-Door Refrigerator (511WQ6F) featuring industry-leading "Fresh-Lock" Technology (Water Molecule Activation Preservation) has won the AWE Innovation Award for its groundbreaking innovation that extends rose preservation to 33 days driving industry upgrades in fresh-keeping technology; the Company's newly launched Slim Zero-Embed Refrigerator (BCD-507WPU9CDZX/BCD-503WPU9CDZX) received the prestigious iF Design Award; Meiling 10KG Flush-Embedded As Hand Washing Drum Washer (RS21H100D/RS11H100D) was certified as a "Good Product" by China Household Electric Appliance Research Institute (CHEARI); Its Living Room Pro Shared Air Conditioner achieved "Annual Energy-Saving & Low-Carbon Product" recognition from Chinese Association of Refrigeration (CAR) for its ultra-grade-I efficiency (APF 5.20) and AI cloud energy-saving technology saving 759kWh/year and reducing 757kg carbon emissions per unit and setting the new "Smart Cooling & Low-Carbon" industry benchmark with its green design; Meiling's Gas Water Heater (JSQ30-MR-BS16A3) won two 2025 FT Quality Awards for "Energy Efficiency Benchmark" and "Usage Comfort"; Meiling Range Hood (CXW-188-MY-KD615Pro) secured two 2025 FT Quality Awards for "Low-Noise Benchmark" and "Power-Saving Benchmark".The Company has continuously achieved breakthrough results in the fields of refrigerators freezers air conditioners washing machines major kitchen appliances small home appliances and biomedicine progressively establishing a dominant industrial matrix centered on large white goods. Looking ahead the Company will adhere to the business policy of "innovation-driven development resource integration industrial synergy marketing transformation and digital transformation" to continuously lead industry upgrading and strengthen market foundations.During the reporting period the Company's revenue was primarily generated from its refrigerator (freezer) air conditioner washing machine major kitchen appliance small home 1 6Changhong Meiling Co. Ltd. 2025 Annual Report Full Text appliance and biomedical equipment businesses with a total revenue reaching RMB 30.133 billion accounting for 99.09% of the Company's total operating revenue.II. Industry Overview During the Reporting Period (I) Refrigerator industry In the domestic market the home appliance sector entered a deep consolidation period in 2025 impacted by both policy adjustments and industry transformation. Although national subsidy policies have driven an upgrade in demand for replacements the overall market continues to face pressure as the policy benefits gradually decline. According to data from AVC the total retail sales of refrigerators across all channels in 2025 amounted to RMB 127.1 billion a decrease of 11.5% year-on-year. Against this backdrop corporate strategies are rapidly shifting towards long-termism and structural restructuring. The core of competition has evolved from a price battle on hardware to a deeper alignment with user emotions and value recognition. In the face of channel fragmentation and consumer transformation achieving precise reach through new retail models and adapting to the full range of consumer needs has become a critical path for companies to reshape the industry landscape and build a sustainable business logic.In terms of exports according to ChinaIOL data the export volume of refrigerators in 2025 was 54.04 million units a year-on-year increase of 4.2%. Global demand shows a polarization: Demand in Europe and the U.S. has weakened due to high inflation while emerging markets maintain strong growth momentum. Among them South America saw stable growth due to easing inflation though there are policy uncertainties in 2026; Africa's growth rate has slowed; Southeast Asia’s demand continues to increase but competition from local manufacturers and Chinese exports is intensifying. Meanwhile the industry structure continues to move upwards with global new standards accelerating the adoption of energy-saving and variable-frequency technologies.Trends toward product upgrades and larger capacities are ongoing and AI smart applications and China’s flush-embedded design philosophy are gaining traction globally. Overall the export market faces multiple competitive pressures but also presents new opportunities for growth in emerging markets and industry upgrades.(II) Air conditioning industry In 2025 the domestic air conditioning industry experienced significant fluctuations characterized by a "high first and low later trend with rapid changes in both cooling and heating demands". In the first half of the year high temperatures and strong subsidy policies for replacing old units drove a strong market growth. However starting from March 15 a price war erupted in the industry and continued to intensify reaching unprecedented levels by June 18. In the second half of the year demand was severely depleted and with weaker subsidies the market situation deteriorated rapidly. Despite large-scale promotions during the Double Eleven Shopping Festival consumer sentiment showed signs of fatigue and the year overall exhibited a clear "high first and 1 7Changhong Meiling Co. Ltd. 2025 Annual Report Full Text low later" pattern. According to AVC data the total retail sales of air conditioners across all channels in 2025 amounted to RMB 235.7 billion a slight decrease of 0.4% year-on-year.In terms of exports China’s air conditioning export market showed a "high first low later" trend in 2025. In the first half of the year influenced by the expected increase in U.S. tariffs companies rushed to ship goods in advance to avoid risks creating a peak in export activity. This temporarily boosted export figures but also exhausted future demand leading to a sharp increase in inventory levels across major overseas markets. As tariffs were fully implemented and with inventory levels in key markets such as Europe and Latin America at high levels export growth slowed sharply in the second half of the year resulting in a prolonged year-on-year decline.According to ChinaIOL data the total export volume of air conditioners in 2025 was 82.28 million units a decrease of 3.2% year-on-year.(III) Washing machine industry In 2025 the home appliance industry accelerated its restructuring. Adjustments in national subsidy policies had a significant impact on the domestic market leading to a "high first low later" trend in washing machine sales. According to AVC data the total retail sales of washing machines in 2025 amounted to RMB 96.3 billion a decrease of 4.6% year-on-year. In terms of exports the washing machine industry faced significant pressure from factors such as global economic downturn U.S. tariff hikes and geopolitical conflicts leading to a slowdown in export order growth. According to ChinaIOL data the total export volume of washing machines in 2025 was 51.21 million units an increase of 13.5% year-on-year.III. Core Competitiveness Analysis (I) Brand influence The Company is one of the well-known electrical appliance manufacturers in China with a comprehensive industrial portfolio covering refrigerators freezers air conditioners washing machines major kitchen appliances small home appliances and biomedical equipment. In 2025 the Company continued to deepen its "Brand Revitalization" strategy focusing on the brand proposition of "Beautiful China Fresh Meiling" adhering to the principle of prioritizing product excellence and leveraging innovation to shape the image promoting steady progress in brand recognition. 1. Deepening the Brand Proposition and Planting the Seed of “Freshness" inConsumers' Minds In 2025 by developing the freshest products it will aim to plant the seed of "freshness" in consumers' minds continuously molding the brand association of "Meiling = Fresh." In its brand communication the Company consistently implemented the brand mission "Meiling Bringing Goodness to Life" continuously enhancing brand awareness reputation and loyalty making the 1 8Changhong Meiling Co. Ltd. 2025 Annual Report Full Text brand a bridge connecting users with a better life. 2. Expanding Communication Channels and Enhancing Brand Influence In 2025 the Company continued to increase its brand promotion efforts expanding diverse communication channels and innovating brand marketing methods to improve the quality of brand operations. CCTV featured a special report on Meiling's product innovations enhancing the brand's authoritative image. The Company implemented targeted brand advertising in subways light rails and airports to enhance brand awareness conducted nationwide agricultural support initiatives through social welfare programs to boost brand reputation. On the new media front the Company deepened content operations and precise promotion capabilities. Meiling accelerated its localized service offerings on the Douyin platform and collaborated with influencers for targeted campaigns; on the Xiaohongshu platform multi-dimensional content engagement was employed to boost user interaction and brand penetration achieving a multi-dimensional leap in brand influence. 3. Maintaining a Focus on Technological Leadership While Accelerating Product Innovation In 2025 the Company remained focused on user-centered design and technology leadership accelerating the transformation of innovation results. This year the Company launched several differentiated innovative products with competitive advantages including the M-Fresh Ultra570S Refrigerator the As Hand Washing Great Whale Drum Washer the Landscape View Series air conditioners the Fresh Water 3.0 Tea Dispenser and the Ice Lined Refrigerator YC-125EW among others. The product line continued to expand and the structure was optimized further enhancing the brand's core competitiveness and providing continuous brand momentum for the Company’s high-quality development.(II) Product capability The Company adheres to the product planning philosophy of "captivating with aesthetics earning respect through quality winning with value-for-money and securing loyalty via experience" with the development goal of "making good products and doing products well" and builds a whole-chain innovation system of "Technical route + Product route + Promotion route." It has established an integrated collaborative mechanism for the entire chain of "sales researchproduction and supply” and continuously optimized its SKU structure which enhances the success rate of product launch and the value contribution within the product lifecycle. On this basis the Company focuses on enhancing product bundling capabilities shifting from single- product sales to bundled product combinations and scene-based solutions. Simultaneously the Company actively explores the empowerment of product innovation through AI technology integrating artificial intelligence into key areas such as technological research and development interactive experiences and intelligent services continuously enhancing the product's 1 9Changhong Meiling Co. Ltd. 2025 Annual Report Full Text differentiated competitiveness and user value.Refrigerator (Freezer) Products: By establishing a comprehensive product platform matrix upgrading exterior/interior designs and implementing tiered freshness/odor-removal solutions the Company meets diverse consumer needs enhances product portfolio competitiveness and expands market coverage to drive sales growth. In 2025 the Company completed the layout of 7 platform refrigerator bodies ranging from 600mm to 900mm in width and launch 5 M-Fresh models including 570S. It innovated defrosting technology comprehensively upgraded all- scenario freshness preservation and introduced differentiated products such as the FrozenFresh Songya 551S and the 70cm Little Certainty 505/420 French style. MNC+PRO active sterilization and deodorization technology were comprehensively upgraded. The e-commerce platform was the first to apply the "AI Smart Assistant" function further comprehensively consolidating its industry leadership in "fresh thin narrow and embedded design". The freezer has undergone full- scale inverter and air cooling upgrades launching new products such as the inverter frost-free master and energy-saving master while establishing high-end brand recognition through products like the M-Fresh Bar Freezer establishing a high-end brand image. Additionally the Company is introducing the industry's first inverter commercial kitchen cabinet.Air Conditioner Products: We focused on user scenarios and create three flagship products: "All Dust-Free" "Kitchen and Dining Cabinets" and "Panda Lazy." In 2025 we launched new products such as the "Landscape View" high-end wall-mounted unit and "Giant Energy Saving PRO" floor-standing series deeply integrating AI algorithms and fresh air technology to achieve a value upgrade from temperature control to air management.Washing Machine Products: The Company focused on core mid-tier products and created a "star series" matrix. All drum washing machines were upgraded to flush-embedded designs. The Company launched the As Hand Washing Flush-Embedded series and the As Hand Washing Great Whale series both featuring 3x washing technology. The product line has expanded to include a 12kg capacity and energy efficiency has been improved across the entire range. Additionally the Company innovated with compact high-capacity products optimizing the product structure.Kitchen and Small Home Appliances: In major kitchen appliances the Company deepened its research into the fields of gas water heating and water purification introducing its 3.0 Honeycomb Sealed Stable-Combustion Energy Chamber technology and creating "AI HealthyKitchen" "Fresh Kitchen” "Whole-house Water Supply” and other scenario-based solutions. In the small home appliance sector the Company expanded its cooperation with academia and research institutes developing second-generation strontium-rich mineral filter. The Fresh Water series became a benchmark for tea drink products and the Company’s mini kitchen appliances ranked among the top three in the industry further elevating its brand influence.Biomedical Products: Focusing on low-temperature storage laboratory equipment and 2 0Changhong Meiling Co. Ltd. 2025 Annual Report Full Text automation applications the Company drives product upgrades through technological innovation.In the field of cryogenic storage the Company made in-depth advances focusing on "intelligence energy efficiency safety and scalability". The YC-125EW Ice Lined Refrigerator introduced in 2025 became the first product globally to be certified by the WHO’s latest standards providing crucial support for expanding the global public health market. The Company also launched intelligent inverter refrigerators -40°C frost-free cryogenic storage units and other products significantly enhancing storage efficiency and safety. In the laboratory equipment sector the Company expanded its product matrix with biosafety cabinets and centrifuges creating new growth points. In the automation applications field the Company focused on developing fully- automated ultra-low temperature storage systems and biobank solutions creating a closed loop for the accurate storage of samples and smart management throughout the process addressing traditional efficiency pain points and providing high-standard technical support for precision medicine.(III) Operational capability The Company continues to improve its operational management system guided by strategy and centered on value creation and effectively drives the achievement of business objectives and operational quality improvement through deep linkage of objective management value chain collaboration comprehensive budget and performance management. In terms of objective management the Company strictly aligns with strategic and business policies establishing a closed-loop mechanism of "target setting-process monitoring-deviation correction-result evaluation" following SMART principles to drive continuous improvement in operational quality; for value chain coordination it clarifies authority-responsibility-benefit boundaries across business units to activate internal vitality while strengthening collaboration throughout the industrial chain building an integrated efficient operating mechanism with aligned objectives streamlined processes and co-created value; in budget management it implements comprehensive closed-loop control throughout the budgeting process adopting dynamic budget adjustments and rolling forecast mechanisms to provide precise timely financial support and decision-making basis for resource allocation optimization risk prevention and strategic goal achievement; in terms of performance management it advances whole-process performance management enhances communication and feedback to effectively align employee growth with corporate development fully stimulate value creation momentum and drive business unit performance fulfillment.(IV) Marketing capability The Company has established a nationwide marketing network and service system that promotes online and offline collaborative development. It drives scalable expansion through four strategic pillars of "innovative super-product development precision channel operations tiered regional upgrades and focused brand-building". In terms of products the Company focuses on 2 1Changhong Meiling Co. Ltd. 2025 Annual Report Full Text introducing differentiated trend products amplifying product mindshare through integrated online-offline campaigns to promote premium offerings. In terms of channels it adheres to a tiered high-quality operation approach increasing investment in KT channels and scaling up those channels with positive marginal contributions. It accelerates the integration of refrigerator and kitchen appliances builds and operates exclusive stores and enhances operator quality in basic channels. Online the Company strengthens the operation of mainstream channels expands emerging channels and strengthens the entry of large stores and underdeveloped regional markets in the sinking channels. In terms of the traffic and user operation front it implements a user- oriented approach strengthening brand building and content operations. In terms of organization it resolutely drives marketing transformation and accelerates new retail capability enhancement.At the same time the Company continues to advance its B2B business system transformation with a strong focus on 'customer-centricity' focusing on improving product quality and delivery capabilities and continuously pushing for the internationalization of domestic marketing capabilities. It also strengthens information technology construction and AI applications building an agile mechanism capable of quickly responding to market changes.IV. Main Business Analysis (I) Overview In 2025 facing the challenges of intensified competition in the home appliance industry the company adhered to the business philosophy of 'innovation-driven internal and external integration industrial synergy marketing transformation and digital and intelligent transformation' achieving steady progress. During the reporting period the company's operating revenue reached 30.408 billion yuan an increase of 6.32% year-on-year; affected by multiple factors such as intensified domestic market competition the decline of national subsidy policies leading to weak terminal demand and fluctuations in bulk material prices net profit was 410 million yuan a year-on-year decrease of 41.31% with overall operations remaining stable. 1. Refrigerator (Freezer) industry In the domestic market the Company focused on "users and traffic" by transitioning from business customers to business users acquiring users through "digital platforms grassroots and omnichannel scenario marketing" while driving conversion via "premium product evaluation flagship model promotion and precision operations" to achieve integrated online/offline traffic convergence. On the channel front the Company is focusing on integrated refrigerator-kitchen solutions transitioning from standalone appliance operations to complete white goods suite offerings. On the product front it adheres to an emotion-driven marketing approach that guides product design adhering to the user-centric approach to build a differentiated product portfolio such as M-Fresh FrozenFresh and Little Certainty as three major IP products for both online and offline channels. The Company’s strategic channel layout of differentiated products coupled with 2 2Changhong Meiling Co. Ltd. 2025 Annual Report Full Text exceptional product experiences has garnered market recognition. Additionally the Company is further leveraging its industrial synergy to achieve a "dual-engine drive" in the refrigerator- washer industry accelerating brand business growth and strengthening internal and external collaboration. With a user-centric approach the Company is not only driving product scale growth but also accelerating the transformation towards high-end products. By strengthening customer support and achieving breakthroughs with key clients in core markets the Company aims for sustained and stable growth in scale.During the reporting period the Company's refrigerator (freezer) business realized an income of about RMB 8.946 billion with a year-on-year decrease of 6.42%. 2. Air conditioning industry In terms of domestic market the Company consistently implements its core business strategy of "product excellence brand prioritization channel co-creation and direct-to-consumer" staying user-centered while continuously enhancing product strength. Key new products such as the "Landscape View"-EA wall-mounted unit "Living/Dinning Room Pro"-BFB floor-standing unit and "Giant Energy Saving PRO"-BEW/BGW floor-standing unit and "Panda Lazy" XS-ULTRA unit were successfully launched. These products deeply integrated AI and health technologies reinforcing the product brands of "Dust-Free Kitchen and Dining Cabinets and Panda Lazy" and supporting market competition through differentiated innovation. In terms of branding the Company strengthened its brand influence through public relations activities self-media operations macro advertising and new media marketing campaigns. For channel operations the Company adhered to an integrated online and offline approach advancing channel expansion and refining operations. At the same time it optimized service experiences and reinforced its operational foundation to maintain business stability and growth amid industry fluctuations. In terms of overseas markets the Company maintained its five-pillar business strategy of "quality foundation strengthening brand momentum building production capacity synergy operational efficiency enhancement and talent excellence cultivation" to continuously drive sustainable business growth. In terms of brand building the Company concentrated on deep cultivation of its Indonesian market to achieve steady growth in brand business scale. In market expansion the Company strengthened its service capabilities for key large customers breaking revenue records with the TOP10 customers of the year. It also increased efforts to expand core regional markets steadily boosting sales and providing strong support for overall business growth.During the reporting period the Company's air-conditioning business realized an income of about RMB 17.381 billion with a year-on-year increase of 12.81%. 3. Washing machine industry 2 3Changhong Meiling Co. Ltd. 2025 Annual Report Full Text The washing machine industry adhered to a differentiated competition strategy staying user- centered and focusing on products to build core industry competitiveness. In the domestic market the Company deepened channel transformation driving continuous optimization of product structure through both product and technology advancements. With trends such as flush- embedded and large-capacity models the Company further solidified its mid-range product offerings emphasizing the competitive advantages of "BlueOxygen As Hand Washing" "As Hand Washing" and "Hercules." New products like the "As Hand Washing Flush-Embedded" and "As Hand Washing Great Whale" were launched and the Company built a series of washing and drying product bundles based on core mid-tier models further strengthening its market share and influence in the mid-to-high-end market. The Company also focused on key regions and core customers collaborating on the development of new appearance drum washers to enhance market share. Breakthroughs were achieved in dryer control technology and energy efficiency accelerating market expansion. The Company initiated dual-basis layouts in Hefei and Mianyang with the Mianyang factory focusing on creating a digital intelligent and green manufacturing park. The integration of "AI + manufacturing" helped build a lean and flexible factory filling gaps in the western high-end laundry industry and empowering regional manufacturing upgrades.During the reporting period the Company's washing machine business realized an income of about RMB 2.207 billion with a year-on-year increase of 26.33%. 4. Major kitchen appliance and small home appliance industry In the major kitchen appliance and small home appliance sector the Company executes a three-pronged strategy of transformation focus and efficiency enhancement yielding substantial improvements. In terms of strategy the Company continues to drive industrial convergence while in terms of market it reinforces strategic home market development to solidify regional market competitiveness. The Company accelerates its omnichannel integration strategy enhancing online experiences through digital marketing and deep platform collaborations while establishing scenario-based offline experiential stores to optimize consumer experiences achieving synchronized cross-channel inventory sharing and consumer mode convergence. In terms of product innovation technological advancements have driven the successful launch of the Fresh Water Series which received widespread praise from users and the small kitchen appliances category saw record sales. In terms of market services the Company maintains its user-centric approach relied on an efficient management platform to quickly respond to user needs enhanced the professionalism of after-sales teams and steadily improved user service experiences and satisfaction.During the reporting period the Company's major kitchen appliance and small home appliance business realized an income of about RMB 1.444 billion with a year-on-year decrease of 3.19%. 2 4Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 5. Biomedical industry In the domestic market staying user-centered the Company continued to drive channel organization reforms and deepened its "market segmentation + scenario-based engagement" approach to accurately identify user needs. The Company continuously improved the channel system in the life sciences field optimizing regional layouts and partner structures significantly enhancing its user coverage and penetration in key markets. It also launched "LingXin Service" nationwide maintenance campaign and after-sales skills enhancement initiative to elevate customer satisfaction and brand trust through professional and standardized services. The Company enhanced its brand influence in scientific research and industry by establishing university scholarships organizing industry strategy alliance meetings and actively promoting the construction of an industry talent ecosystem fostering industry chain collaboration and high- quality win-win development. In the overseas market the Company focused on both quality and quantity to solidify its channel foundation building a more comprehensive channel network. By focusing on developed markets and breaking into emerging markets and utilizing international exhibitions and on-site visits for diversified promotion the Company expanded the market influence of its core products. Simultaneously it gradually strengthened its localized layout continuously improving market response capabilities and delivery efficiency. The Company worked to create a competitive edge across the entire product lifecycle from promotion to after- sales service ultimately forming a global channel system based on customer loyalty and win-win cooperation.During the reporting period the Company's biomedical business realized an income of about RMB 305 million with a year-on-year increase of 15.61%.(II) Revenue and cost 1. Constitute of operating revenue Unit: RMB 20252024 Ratio in Ratio in Y-o-y changes Amount operating Amount operating (+-) revenue revenue Total operating 30407926517.70100%28601036014.96100%6.32% revenue On industry Manufacture of 30132656540.5099.09%28335360230.4299.07%6.34% household Other 275269977.200.91%265675784.540.93%3.61% operations On products Refrigerator 8945930733.4529.42%9560071716.6333.43%-6.42% freezer Air 17381279817.25 57.16% 15407055870.21 53.87% 12.81% 2 5Changhong Meiling Co. Ltd. 2025 Annual Report Full Text conditioners Washing 2206689678.047.26%1746832584.106.11%26.33% machines Small home appliance and 1444314413.78 4.75% 1491831582.42 5.22% -3.19% kitchen & toilet Other products 154441897.98 0.51% 129568477.06 0.45% 19.20% Other 275269977.200.91%265675784.540.93%3.61% operations On regions Domestic 19067190222.93 62.70% 18352947530.79 64.17% 3.89% Overseas 11340736294.77 37.30% 10248088484.17 35.83% 10.66% On sales models Direct sales 275269977.20 0.91% 265675784.54 0.93% 3.61% Distribution 30132656540.50 99.09% 28335360230.42 99.07% 6.34% 2. The industries products regions or sales models that accounting for over 10% of the Company’s operating revenue or operating profit √ Applicable □ Not applicable Unit: RMB Increase/d Increase/d Increase/d Gross ecrease of ecrease of ecrease of Operating Revenue Operating cost profit operating gross operating ratio revenue y- profit ratio cost y-o-y o-y y-o-y On industry Manufacture 30132656540.50 27049833815.15 10.23% 6.34% 7.07% -0.61% of household On products Refrigerator 8945930733.457618717577.6214.84%-6.42%-5.77%-0.59% freezer Air 17381279817.2516177492952.846.93%12.81%12.86%-0.03% conditioners On regions Domestic 18801992176.76 16966236572.68 9.76% 3.83% 5.55% -1.47% Overseas 11330664363.74 10083597242.47 11.01% 10.80% 9.74% 0.86% On sales models Distribution 30132656540.50 27049833815.15 10.23% 6.34% 7.07% -0.61% Under circumstances of adjustment in reporting period for statistic scope of main business data adjusted main business based on latest one year’s scope at the end of the reporting period □ Applicable √ Not applicable 3. Does the Company’s Revenue from Physical Sales Exceed Service Revenue √ Yes □ No Industry Items Unit 2025 2024 Y-o-y changes (+-) classification Ten thousand Household Sales 3515.56 3520.59 -0.14% units/set 2 6Changhong Meiling Co. Ltd. 2025 Annual Report Full Text appliance Ten thousand Production volume 3466.33 3615.15 -4.12% manufacturing units/set industry Ten thousand Inventory volume 209.57 262.95 -20.30% units/set Reason for more than 30% year-on-year change in relevant data □ Applicable √ Not applicable 4. Performance of Major Sales and Procurement Contracts Signed by the Company as of the Reporting Period □ Applicable √ Not applicable 5. Composition of operating costs Industry classification Unit: RMB 20252024 Proportion Y-o-y Industry Items Proportion changes classification of Amount Amount of operating operating (+-) costs costs Manufacture of Raw 24700911697.5191.32%23131923420.7691.57%6.78% household materials Note: None 6. Changes in the Scope of Consolidation During the Reporting Period √ Yes □ No For detailed information please refer to "Section VIII Financial Report" of the Reportspecifically “7. Changes in the Consolidation Scope" and “8. Equity in Other Entities". 7. Significant Changes or Adjustments in Business Products or Services During the Reporting Period □ Applicable √ Not applicable 8. Major sales customers and suppliers (1) Major sales customers Total sales to top five customers (RMB) 17641646432.72 Proportion of total annual sales to top five customers 58.02% Proportion of related-party sales in total sales amount to top 25.92% five customers Top 5 major customers No. Customer name Sales amount (RMB) Proportion in total annual 2 7Changhong Meiling Co. Ltd. 2025 Annual Report Full Text sales 1 Customer 1 8707933442.46 28.64% 2 Customer 2 6428142559.63 21.14% 3 Customer 3 1452266880.11 4.78% 4 Customer 4 538957631.23 1.77% 5 Customer 5 514345919.29 1.69% Total -- 17641646432.72 58.02% Other remarks on major customers □ Applicable √ Not applicable Major suppliers Total procurement from top five suppliers (RMB) 7260560975.80 Proportion of total annual procurement from top five suppliers 28.85% Proportion of related-party purchases in total procurement from 18.21% top five suppliers Top 5 major suppliers Proportion in total annual No. Supplier name Procurement amount (RMB) procurement amount 1 Entity 1 2612134309.66 10.38% 2 Entity 2 1427567529.43 5.67% 3 Entity 3 1250485607.58 4.97% 4 Entity 4 1155505554.10 4.59% 5 Entity 5 814867975.02 3.24% Total -- 7260560975.80 28.85% Other remarks on major suppliers □ Applicable √ Not applicable Proportion of trade business revenue in total operating revenue exceeding 10% during the reporting period □ Yes □ No √ Not applicable (III) Expenses Unit: RMB Explanation of 2025 2024 Y-o-y changes (+-) significant changes There are no Selling Expenses 1608870608.09 1477154043.38 8.92% significant changes Administrative There are no 409105468.67359672540.2013.74% Expenses significant changes Mainly due to the Financial Expenses -2377420.20 -168543395.34 98.59% impact of exchange 2 8Changhong Meiling Co. Ltd. 2025 Annual Report Full Text rate fluctuations losses Research and There are no 727971952.33637242233.8314.24% Development Expenses significant changes (IV) R&D investment √ Applicable □ Not applicable Main R&D Project Expected impact on the Project purpose Expected goals project names progress Company’s future development Centered around Meiling's freshness To continuously strengthen image the product The project aims to define the Meiling M-Fresh’s freshness aims to create the industry's most user-friendly full- image and enrich the layout of best freshness- scene fresh storage refrigerator for Meiling's high-end large- preserving young people. Its launch will Meiling M- capacity refrigerators Meiling refrigerator in the further enhance Meiling’s Fresh developed the M-Fresh Completed; industry with a leadership in freshness technology Ultra570S Ultra570S refrigerator in the product new exterior and and its professional refrigeration Series response to the growing has been interior design brand image. The M-Fresh Refrigerator demand for large freezing launched.further Ultra570S continues the Meiling R&D space. This product is strengthening freshness image strengthens the designed to capture a larger Meiling’s RMB 10000+ product layout and share of the RMB 10000+ freshness image improves the structure of market while elevating the and boosting its Meiling’s user base.brand’s image.share in the high- end market.As living standards rise and dietary structures change meat and seafood consumption have significantly increased. At the same time frozen food has Through a new become an essential part of the structural This project is a product defined High-waisted diet due to the fast-paced innovation with a by Meiling’s differentiated large freezer lifestyle. Traditional multi- Completed; high-waisted innovation precisely targeting the multi-door door refrigerators do not meet the product design the user’s market and user base enriching flush- the increasing demand for has been freezing space has the Meiling refrigerator product embedded large freezing space. Meiling launched. been significantly platform improving product refrigerator developed a high-waisted enhanced to meet competitiveness and enhancing project zero-flat large freezing the demand for profitability.product in response to these bulk freezing.user needs leveraging the industry trend of 90cm width and 60cm depth integration to enhance Meiling’s competitiveness. 2 9Changhong Meiling Co. Ltd. 2025 Annual Report Full Text The project’s 70cm This project adopts a 70cm ultra- ultra-thin design thin multi-door format enriching meets the user To address the need for large- Meiling’s product platform and demand for large capacity refrigerators in small effectively responding to the capacity kitchens such as apartments demand for large-capacity 70cm Ultra- eliminating and old kitchen renovations Completed; refrigerators in small homes. The Thin French concerns about Meiling’s 70cm ultra-thin the product successful launch of this project Multi-Door insufficient French refrigerator project has been will effectively increase Meiling’s Refrigerator capacity and space solves the user pain points launched. market share in the 400-500L mid- Project limitations. It with its slim design and large to-low-end price range for multi- saves time and capacity. It redefines modern door refrigerators and further space and provides kitchen space utilization. improve brand reputation through a new solution for innovative solutions to user pain small kitchen points.units.AI algorithms and cloud connectivity Based on user air conditioner enable air data analysis Meiling conditioners to The technological achievement developed AI cloud energy- autonomously has been applied to multiple saving technology to learn and precisely Changhong product series and dynamically adjust air Completed; identify load AI cloud achieved "Annual Energy-Saving conditioner operation and the offering energy-saving & Low-Carbon Product" room load matching technology personalized air conditioner recognition from Chinese improving efficiency has been energy-saving research and Association of Refrigeration reducing temperature fully control. The application (CAR) contributing to energy fluctuations and achieving applied. energy-saving rate savings during air conditioner use energy savings and comfort. of the technology and helping to meet national dual This supports Changhong Air application carbon targets.Conditioner’s "comfort in products in cooling every degree" brand promise. mode has reached the industry's advanced level.Based on the group’s unified By using high- layout of AI smart home precision environmental The product provides a new products and technologies Meiling launched a smart air sensors real-time solution with high fresh air data from indoors volume high oxygen content high Development conditioner product that Completed;and outdoors is negative ion concentration and of Landscape achieves “AI temperature the productcollected and clean air upgrading the product View wall- humidity oxygen and an has been experience enhancing brand mounted units immersion in nature". The launched. negative ions product integrates fresh air fresh air reputation and laying the foundation for capturing the high- smart ventilation cloud temperature and energy-saving and voice humidity are end product market.technologies. intelligently adjusted. The air 3 0Changhong Meiling Co. Ltd. 2025 Annual Report Full Text outlet generates over 100 million negative ions with the room’s negative ion concentration far higher than that of forest oxygen bars offering users a "Immersion in Nature" comfortable experience.In some international markets where power supply is unstable users equip 1. Compatible with generators for emergency multiple power Research and power during outages. The supply methods development input voltage from the and widely of self- generator is unstable applicable identifying requiring the main control The product 2. Stable operation Enhancing product lines and power supply board to stabilize it into a has been to extend product increasing sales intelligent stable drive voltage. launched.lifespan control inverter Additionally because 3. Multi-level air generators with low power current control to conditioners output cannot support many improve user devices users can set the air experience conditioner’s current levels in advance based on actual use to ensure smooth operation. 1. Meets refrigeration Developed for specific demands for high- Research and markets this single-stage temperature areas application of compression high-temperature during summer high- refrigeration technology 2. Meets the temperature targets T3 extreme high- The product demand for B- Improving product refrigeration temperature conditions (50– has been grade energy competitiveness and enhancing technology 55°C environment) and meets launched. efficiency products company profitability based on three core requirements: high in specific markets single-stage temperature resistance high 3. Provides a high compression reliability and high energy comfort level with efficiency. no loss of performance under wide temperature conditions 3 1Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 4. Used in mid-to- high-end product series ranging from 12K to 27K To meet users’ needs for The product small-size large-capacity achieves 10kg refrigerators and space capacity on a Small Size The increased product volume and utilization the product’s inner small-size Large Capacity Completed; manufacturing efficiency enhance barrel volume has been platform grade 1 Pulsator the product the market product lineup upgraded to 60L with a energy efficiency Product has been improve user satisfaction and capacity of 10kg and an and a washability Development launched. strengthen the Company’s product energy efficiency level ratio of 0.90 Project competitiveness.upgraded to grade 1 reducing reaching the user costs and improving user industry’s experience. advanced level.Adopting a new flush-embedded exterior design this product’s assembly is a revolutionary Enhancing the drum product The washability change compared to traditional Great Whale lineup with an integrated Completed; ratio has reached washing machines integrating drum washer appearance and expanding the the product 1.25 far exceeding home appliances with home development existing 12kg platform with has been the national decoration improving the image project new exterior designs launched.standard of 1.03. and market influence of Meiling enriching the product line.drum washing machines and increasing the share of mid-to- high-end products.Key technologies such as inverter fan control rules and refrigeration system optimization have been By applying high-efficiency applied to the development of 9- microchannel condensers The dryer’s overall star energy efficiency products in Dryer A+++ optimizing inverter fan speed energy efficiency both domestic and Australian Completed; energy control and upgrading has reached A+++ markets. These technologies can the efficiency refrigeration system with an A-grade provide core support for dryer technology product performance the project condensation products across different energy has been technology successfully achieved an efficiency and all efficiency levels and regional fully research energy efficiency leap to performance standards forming a reusable applied.project European Standard A+++ and indicators meet the iterative energy efficiency built a corresponding standards. platform. This supports the technological platform. Company's high-end dryer market product layout enhancing overall energy efficiency technology reserves and industry influence. 3 2Changhong Meiling Co. Ltd. 2025 Annual Report Full Text To solve the long-standing The "High- industry pain point of dirt Pressure accumulation on the external Circulating Active walls of the washing machine Flushing drum which leads to bacteria This self-cleaning function is a Technology for growth and secondary major selling point providing a Washing Drum External contamination of clothes the truly clean washing environment machine drum Walls" has been research focused on high- Completed eliminating secondary cleaning successfully pressure circulating water contamination ensuring family technology developed. The flushing technology. This health and enhancing product first-generation technology automatically and reliability and user satisfaction.functional repeatedly flushes the drum’s prototype has been outer wall to ensure that no completed and stains adhere even after long- fully tested.term use.The water temperature changes more Upgraded from the 2.0 gently with short- Development platform the product duration faucet of 3.0 optimizes piping layout and openings Enhancing the core technology of Honeycomb The product heat exchange tube structures providing a the combustion product line and Sealed Stable- has been to achieve a more reasonable comfortable increasing product premium Combustion upgraded water temperature distribution shower experience capabilities.Energy reduce scaling rates and without scalding.Chamber extend product lifespan The product meets the Grade 2 energy efficiency standard.Building on the first-generation strontium-rich filter the new machine integrates The medium box platform layout Developed a tea dispenser two micro- and strontium-rich filter upgrade MY-N35/N56 with new platform new elements— were completed greatly enhancing Tea Dispenser Launched appearance and the second- metasilicic acid the market competitiveness of the project generation strontium-rich filter and zinc—and self-developed Fresh Water tea upgrades the dispenser mineral filter material to a sintered carbon rod shape 3 3Changhong Meiling Co. Ltd. 2025 Annual Report Full Text This product integrates a It serves as a smart compression ice maker water dispenser for refrigeration and 3-second families meeting MY-NBJ90 AI The product offers both AI smart instant hot water delivery the diverse Instant Hot experience and ice-making core equipped with the first- Launched drinking needs of Water functions strengthening the generation strontium different family Dispenser brand's high-end positioning.mineralized filter creating an members and intelligent water dispensing promoting healthy product drinking.The project solves issues related to freezing and thawing during Initial R&D sample storage of some uneven temperature individual fluctuations inside The project mainly serves large- Ultra-Low automated the storage during scale biological sample storage The success of this project will temperature equipment operations precise and management aiming to enable the mass production and intelligent has been scanning of sample improve sample preparation industrialization of ultra-low biological completed batches and long- quality reduce cross- temperature intelligent biological sample bank with term stable contamination and speed up sample banks enhancing the research ongoing operation of various sample preparation and Company’s product visibility and and optimization automation processing while achieving supporting the expansion into new industrialization to finish the equipment in low- traceability to reduce error fields industries and markets.project development temperature risks.of single environments. This automated allows for mass equipment. production and industrialization of ultra-low temperature intelligent biobanks.Develop biomedical storage The equipment equipped with technical intelligent systems for blood verification samples and laboratory has been equipment management Drive product transformation IoT Technology completed enabling smart access towards IoT and digital services and for the R&D management while enhancing product value-added and Mass production Biological and significantly improving the market competitiveness improving Storage expansion of and sales product's IoT connectivity and customer experience increasing Equipment the modular achievement intelligent control capabilities user loyalty and further Integration IoT design achieving remote real-time consolidating the Company’s series monitoring of equipment market advantage.products operation intelligent warnings which are and digital management; ready to be focusing on the core needs of applied to liquid nitrogen storage 3 4Changhong Meiling Co. Ltd. 2025 Annual Report Full Text equipment's smart upgrade the products.independently develop key data collection components fully enhance the IoT connectivity and intelligent control level of the products and boost the competitiveness and profitability of the liquid nitrogen biological storage container market while realizing remote real-time monitoring of equipment operation intelligent warnings and digital management The Company’s R&D Personnel 2025 2024 Change Ratio R&D Personnel Number 16331781-8.31% (Person) Proportion of R&D 15.72% 16.90% Decrease by 1.18% Personnel R&D Personnel Education Structure Undergraduate 1079 1160 -6.98% Master’s Degree 202 146 38.36% R&D Personnel Age Composition Under 30 561 570 -1.58% 30–40 years 634 668 -5.09% The Company’s R&D Investment 2025 2024 Change Ratio R&D investment amount 967536650.87801412208.2320.73% (RMB) Proportion of R&D Increase by 0.38 Investment in Operating 3.18% 2.80% percentage points Revenue Capitalized R&D investment amount 239564698.54 207422076.26 15.50% (RMB) Proportion of Capitalized Decrease by 1.12 R&D Investment in Total 24.76% 25.88% percentage points R&D Investment Reasons and Impacts of Significant Changes in R&D Personnel Composition □ Applicable √ Not applicable Reasons for Significant Changes in the Proportion of Total R&D Investment in Operating 3 5Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Revenue Compared to the Previous Year □ Applicable √ Not applicable Explanation for the Large Fluctuation in R&D Investment Capitalization Rate and Its Reasonableness □ Applicable √ Not applicable (V) Cash flow Unit: RMB Items 2025 2024 Y-o-y changes (+-) Subtotal of Cash Inflows 35816296078.6932666460604.669.64% from Operating Activities Subtotal of Cash Outflows from Operating 34956205571.98 28696203386.70 21.81% Activities Net cash flows generated 860090506.713970257217.96-78.34% from operating activities Subtotal of Cash Inflows 30724587024.2613768606653.54123.15% from Investing Activities Subtotal of Cash Outflows from Investing 31572633480.96 15464094400.84 104.17% Activities Net Cash Flows from -848046456.70-1695487747.3049.98% Investing Activities Subtotal of Cash Inflows 3736843808.962602742833.9243.57% from Financing Activities Subtotal of Cash Outflows from Financing 3967935587.59 3311631839.18 19.82% Activities Net Cash Flows from -231091778.63-708889005.2667.40% Financing Activities Net increase in cash and -216237545.031584920797.49-113.64% cash equivalents Explanation of Major Influencing Factors for Significant Year-on-Year Changes in Related Data √ Applicable □ Not applicable The significant change in net cash flows from operating activities is primarily due to an increase in the cash paid by the Company for purchasing goods and receiving services compared to the same period last year.The significant change in the net increase in cash and cash equivalents is mainly due to an increase in cash outflows from operating activities compared to the same period last year.Explanation of reasons for significant discrepancies during the reporting period between net 3 6Changhong Meiling Co. Ltd. 2025 Annual Report Full Text cash flow from operating activities and net profit for the year √ Applicable □ Not applicable Mainly due to an increase in operating payables at the end of the reporting period compared to the beginning of the period.V. Analysis of Non-main Business √ Applicable □ Not applicable Unit: RMB Is it Ratio in total Amount Note sustainable profit (Y/N) Mainly due to the interest income Investment income 57151933.74 10.44% from debt investments held during No the period Mainly due to changes in the fair Gains/losses from value of irrevocable orders and changes in fair 110668505.27 20.22% No foreign exchange contracts of the value Company in the current period Mainly due to the provision for inventory depreciation losses and Asset impairment -110102556.54 -20.11% intangible asset impairment losses No of the Company in the current period Mainly due to the Company's Non-operating 10078947.82 1.84% receipt of liquidated damages No Income income in the current period Mainly due to the loss of non- Non-operating 13438803.36 2.45% current assets scrapped by the No Expenses Company in the current period VI. Analysis of Assets and Liabilities (I) Major changes of assets composition Unit: RMB End of 2025 Beginning of 2025 Ratio in Ratio in Ratio Explanation of Amount total Amount total changes significant changes assets assets Increas Mainly due to the increase e by in the proportion as the Cash and cash 1.9 10186661869.94 45.67% 10492450750.61 43.77% Company's total assets equivalents percent decreased in the current age period points Increas Mainly due to the increase e by Accounts in operating revenue of the 2014944491.339.03%1527978374.486.37%2.66 receivable Company in the current percent period age 3 7Changhong Meiling Co. Ltd. 2025 Annual Report Full Text points Decrea se by 0.01 Contract assets 725425.50 0.00% 2763866.97 0.01% No major changes percent age points Decrea se by Mainly due to a decrease in 5.33 the Company's stock Inventory 2079744997.60 9.33% 3514968009.34 14.66% percent preparation and production age needs during the period points Investment 63387835.97 0.28% 66720850.69 0.28% — No major changes Properties Increas e by Long-term 0.06 Equity 88148806.34 0.40% 81511146.82 0.34% No major changes percent Investments age points Increas Mainly due to the increase e by in the proportion as the 0.95 Fixed assets 2276129362.07 10.21% 2218850660.12 9.26% Company's total assets percent decreased in the current age period points Increas e by Mainly due to an increase Construction in 0.16 in the Company's project 127282346.900.57%97807983.400.41% progress percent investments during the age period points Increas e by Mainly due to the newly Right-of-use 0.13 added factory leasing of 132921569.770.60%113784190.780.47% assets percent the Company in the current age period points Increas e by Mainly due to the increase Short-term 0.43 in bank loans of the 810099931.943.63%766747286.013.20% borrowings percent Company in the current age period points Increas e by Mainly due to the decrease Contract 1.37 in advance payments 871792341.163.91%609737871.242.54% liabilities percent received by the Company age in the current period points Increas Mainly due to the increase e by Long-term in loans of the Company 111178667.250.50%——0.50 Borrowings for new business in the percent current period age 3 8Changhong Meiling Co. Ltd. 2025 Annual Report Full Text points Increas e by 0.09 Lease liabilities 114402511.69 0.51% 101826405.91 0.42% No major changes percent age points A relatively high proportion of foreign assets □ Applicable √ Not applicable (II) Assets and liability measured by fair value √ Applicable □ Not applicable Unit: RMB Provisi Accumulative Gains/losses on changes in Amount of from changes in made Items Beginning balance fair value purchase in the Sales in the period Other changes Ending balance fair value in this during reckoned into period period the equity period Financial assets 1. Trading financial assets (derivative 29717000000.00 29717000000.00 financial assets excluded) 2. Derivative 72010074.43-10168289.7261841784.71 Financial Assets 3. Accounts Receivable 1516987953.83 -1107057367.44 409930586.39 Financing 4. Other Non- current Financial 676094304.44 3281963.62 -17543998.30 661832269.76 Assets Subtotal of 2265092332.70-6886326.1029717000000.0029717000000.00-1124601365.741133604640.86 financial assets Total 2265092332.70 -6886326.10 29717000000.00 29717000000.00 -1124601365.74 1133604640.86 Financial 156359680.92-117554831.3738804849.55 liabilities Other changes Other changes in receivables financing are due to the decrease in notes receivable with the objective of both collecting contractual cash flow (collections) and selling (endorsement or discounting).Other changes in other non-current financial assets are caused by the recovery of the cost of Sichuan Hongyun New Generation Information Technology Venture Capital Fund Partnership 3 9Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Enterprise (Limited Partnership) and Changhong Group Sichuan Shenwan Hongyuan Strategic New Industrial Parent Fund Partnership (Limited Partnership).Are there major changes in measurement attributes for main assets of the Company in the reporting period □ Yes √ No 3. Assets right restricted at the end of the reporting period At the end of the reporting period the Company has no major assets that were seized detained frozen mortgaged or pledged. As for other assets with restricted rights see more in relevant content of “24. Assets with Restricted Ownership or Use Rights” in “VII. Notes to MajorItems of Consolidate Financial Statement” under “Section VIII Financial Report” in the Report.VII. Investment Analysis (I) Overall situation √ Applicable □ Not applicable Investment in the reporting period Investment in the same period of Changes (RMB) last year (RMB) 500000000.00475033242.385.26% (II) The major equity investment obtained during the reporting period √ Applicable □ Not applicable Unit: RMB Is a la So Ex ws Date of Index of Name Meth Share urc Term Type Current Par Status as of pec uit disclosu disclosure of the od of Amount of holdi e of of investmen Principal business tne the balance ted inv re (if (if investe inves investment ng of inves produ t profit rs sheet date ret olv applica applicable d tment Ratio fun tment cts and loss urn ed ble) ) ds in (Y/ N) Mianya General items: General items: Newl Dire Rese Smart March Juchao Sel - ng research and development of y ct No Long arch Home N/ 18 Website: 500000000 f- 218786 No Chang household appliances; estab and ne -term and Appliances A 2025 www.cni fu 5.85 hong household appliance lishe indir devel completed April nfo.com. 4 0Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Smart manufacturing; sales of d ect nd opm the 18 cn Home household appliances; total ent industrial 2025 (Announ Applia household appliance share man and cements nces installation services; holdi ufact commercial No.Co. information technology ng: uring establishme 2025- Ltd. consulting services; plastic 100 and nt 005 No.product manufacturing; sales of % sales registration 2025-006 plastic products; metal chains of and and No.and other metal products hous obtained 2025- manufacturing; sales of metal ehol the 021) products; plastic packaging box d Business and container manufacturing; appli License on Import and export of goods. ance March 21 (Except for items subject to s 2025. approval in accordance with the During the law business activities shall be reporting carried out independently in period it accordance with the law with a invested business license) RMB 100 million.- Total -- -- 500000000 -- -- -- - -- -- -- 218786 -- -- -- 5.85 3. The material non-equity investment during the reporting period √ Applicable □ Not applicable On June 18 2025 and November 24 2025 the Company held the 18th meeting of the 11th Board of Directors and the second extraordinary shareholders’ meeting for 2025. During these meetings the Proposal on the Investment and Construction of the Smart Home Appliances Industrial Park Project by Subsidiaries was reviewed and approved. The Company agreed to allow its subsidiary Hefei Industrial to invest in and build the Smart Home Appliances Industrial Park Project with a total investment of RMB 877.05 million. The details were disclosed by the Company on June 19 2025 and November 25 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn) through announcements (No. 2025-045 No. 2025-046 and No. 2025-082).Details of the Company's production capacity expansion project can be found in Section V“XVII. Explanation of Other Significant Matters" and “XVIII. Significant Matters of the 4 1Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Company's Subsidiaries." As of the end of the reporting period the project construction was still in progress and had not yet been completed or transferred with the related project contract amount exceeding RMB 200 million. □ Yes □ No √ Not applicable (IV) Financial assets investment 1. Securities investment □ Applicable √ Not applicable The Company had no securities investment in the reporting period. 2. Derivative investment √ Applicable □ Not applicable (1) Derivatives investment for hedging purposes during the reporting period √ Applicable □ Not applicable Unit: RMB 10000 Ratio of Accumu investment Gains/loss lative Investmen amount at the es from changes Amount Amount t amount end of the Amount at Initial changes in in fair purchased in sold in the at the end period in net Type the investment fair value value the reporting reporting of the assets of the beginning in this reckone period period reporting Company at the period d into period end of the equity reporting period Forward foreign 674376.60 496923.87 10788.65 0 1024917.74 972666.73 560048.15 92.06% exchange contracts Total 674376.60 496923.87 10788.65 0 1024917.74 972666.73 560048.15 92.06% Explanation of the accounting policies and specific principles of accounting calculation for hedging business N/A during the reporting period as well as whether there have been significant changes compared with the previous reporting period Description of actual During the reporting period the Company confirmed the income from derivatives investment of RMB - 4 2Changhong Meiling Co. Ltd. 2025 Annual Report Full Text profit and loss 108.7326 million.during the reporting period During the reporting period the Company adhered to the principle of exchange rate risk neutrality used forward foreign exchange contracts as hedging tools and signed forward foreign exchange contracts according to the foreign exchange receipt amount predicted by sales and the target cost exchange rate. The Description of delivery period matched with the predicted return amount and the agreed delivery amount matched with the hedging effect predicted return amount to avoid the risks caused by exchange rate fluctuations. The cash flow / fair value changes in the hedging tools during the reporting period can offset the cash flow / fair value changes in the hedged items caused by exchange rate fluctuations which met the requirements of hedging effectiveness and achieved the hedging objectives.Capital resource Self-fund 1. Market Risk: domestic and international economic situation changes may lead to exchange rate fluctuations forward foreign exchange transactions are under certain market risk. Forward foreign exchange business is aiming to reducing impact on corporate profits by foreign exchange settlement and sale prices exchange rate fluctuations. The Company will follow up the exchange fluctuation on the basis of target rate determined from the business relying on the research of the foreign currency exchange rates combined with prediction of consignments and burdening ability to price variations due to exchange rate fluctuations then Risk analysis and determine the plan of forward foreign exchange contracts and make dynamic management to the business to controlling measures ensure reasonable profit level.for derivatives 2. Liquidity risk: all foreign exchange transactions are based on a reasonable estimate of the future import and holdings in the export business to meet the requirements of the trade authenticity. In addition forward foreign exchange reporting period transactions are processed with bank credit will not affect liquidity of company funds.(including but not 3. Bank default risk: if cooperative banks collapse within the contract time the Company will not be able to limited to market transact the original foreign exchange contracts with contract price which leads the risk of income risk liquidity risk uncertainty. So the Company chose five state-owned banks the Chinese-funded banks in shareholding credit risks enterprise as Everbright Bank Industrial Bank and the foreign-funded banks as UOB OCBC BEA etc. to operation risk and conduct the trading of foreign exchange capital. These banks share a solid strength and management whose law risks etc.) failure and the risk of loss may bring to the Company is very low. 4. Operational risk: improper operation of the person in charge of forward foreign exchange transactions may cause related risk also. The Company has formulated related management system which defines the operation process and responsibility to prevent and control risks. 5. The legal risks: unclear terms based in contract signed with banks for related transactions may lead legal risks when forward foreign exchange transactions are processing. The Company will strengthen legal review and choose good bank to carry out this kind of business as to risk control.Invested derivative products have changes in market price or fair value in The Company determines fair value in accordance with the Chapter VII “Determination of Fair Value” carried the reporting period in the Accounting Standards for Business Enterprises No.22 - Recognition and Measurement of Financial as for analysis of the Instruments. Fair value is basically obtained according to prices offered by bank and other pricing services.fair value of While fair value of derivatives is mainly obtained according to the balance between prices given by derivatives outstanding contracts and forward prices given by contracts signed during the reporting period with bank. The disclosed specific differences are identified as trading financial assets and liabilities.applied methods and correlation assumption and parameter setting Lawsuit involved (if N/A applicable) Disclosure date for approval from the board of directors April 3 2025 for investment of derivatives (if applicable) 4 3Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Disclosure date for approval from board of shareholders for April 26 2025 investment of derivatives (if applicable) (2) Derivative investments for speculation during the reporting period □ Applicable √ Not applicable The Company had no derivative investment in the reporting period.VIII. Sales of Major Assets and Equity (I) Sales of major assets □ Applicable √ Not applicable No major assets were sold in the reporting period.(II) Sales of major equity □ Applicable √ Not applicable IX. Analysis of Main Holding and Participating Companies √ Applicable □ Not applicable (I) Particular about main subsidiaries and participating companies with net profit over 10% Unit: RMB Name of Principal Registered Operating Type Total assets Net assets Operating profit Net profit Company business Capital Revenue Research and Zhongke development Meiling Subsidia manufacturing and Cryogenic 96730934.00 751451737.50 625049875.67 308544895.46 18823468.91 19107093.28 ry sales of ultra-low Technology Co.temperature Ltd.freezer Mianyang Manufacturing of Meiling Subsidia refrigeration and 100000000.00 178897282.08 128937757.15 432155233.12 2088066.07 1359608.42 Refrigeration ry freezer Co. Ltd.Jiangxi Meiling Manufacturing of Electric Subsidia refrigeration and 50000000.00 389256452.45 187207661.38 740427935.18 16238263.17 15278774.21 Appliance Co. ry freezer Ltd.Hefei Meiling Subsidia Sales of white Group Holdings 80000000.00 1047037002.93 -483502629.80 4610947948.01 -257691816.88 -258433170.40 ry goods Limited Zhongshan Subsidia R&D 334000000.003540887682.72740626457.125555747105.83246636097.14210058204.93 Changhong ry manufacturing and 4 4Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Electric Co. foreign sales of Ltd. air-conditioning Sichuan R&D Changhong Air Subsidia manufacturing and 850000000.005543535211.901581349799.7512225621383.18174609164.16137246829.22 Conditioner Co. ry domestic sales of Ltd. air-conditioning R&D and sales of Hefei household Changhong Subsidia appliances Meiling Life 50000000.00 626498739.27 77618800.06 1375665572.89 34591484.26 28074580.09 ry kitchen appliances Appliances Co.and small home Ltd.appliances (II) Subsidiary obtained and disposed in the reporting period √ Applicable □ Not applicable The method of obtaining and disposing The influence to the whole production Name of Company subsidiaries during the reporting period and performance The Company and its subsidiary Mianyang Meiling invested a total of RMB 500 million with its own funds to establish the Company which aims to Mianyang Changhong Smart Home further improve the production capacity Established by investment Appliances Co. Ltd. of washing machines and it will have a positive impact on the Company's long- term development will not adversely affect cash flow and normal production and operating funds and will not have a significant impact on Hefei Meiling IoT Technology Co. Ltd. Liquidation and deregistration the financial situation and operating results of the year.(III) Description of holding and participating companies □ Applicable √ Not applicable X. Structured Entities Controlled by the Company □ Applicable √ Not applicable XI. Outlook for the Company's Future Development (I) Macro environment analysis In 2026 the complexity of the macro environment will further intensify with global economic growth diverging and regional geopolitical conflicts intertwining leading to significant fluctuations in the prices of key raw materials like copper further increasing cost pressures in the manufacturing sector. At the same time the international foreign exchange market will experience more volatility posing higher demands on businesses' overseas operations and exchange rate risk management. Domestically under the policy support the market is entering a "consolidation period." The "trade-in" policy which was previously concentrated is losing momentum and the new demand generated by the real estate market adjustment is weak. The overall market is 4 5Changhong Meiling Co. Ltd. 2025 Annual Report Full Text shifting from total expansion to structural upgrading. Against this backdrop the accelerated popularization of artificial intelligence (AI) is profoundly transforming the industrial landscape.From upgrading end-user intelligent experiences and personalized scenario customization to reshaping manufacturing and supply chain efficiency AI technology is being fully integrated into product innovation and operational processes. It has become a core driving force for the home appliance industry to explore new growth points navigate economic cycles and achieve high- quality development amidst a competitive landscape.(II) Industry environment analysis 1. Refrigerator (Freezer) industry The refrigerator industry is undergoing profound transformation. In the domestic market the demand for both essential and premium products is expected to remain weak. Amid rising prices of raw materials such as copper and aluminum pressure on enterprises is increasing. The market has fully shifted to a replacement-driven model with the proportion of high-end models increasing against the trend. Driven by both policy and technological advancements the industry is transforming towards "green intelligent and high-end" features and market share is accelerating toward leading ecosystem-oriented enterprises. At the same time the global influence of Chinese home appliance brands and the expansion of Chinese channels worldwide provide new opportunities for business expansion. On the technological front the rapid development of inverter technologies driven by global standard upgrades has led to the accelerated popularization of inverter products. AI applications are driving the rapid acceleration of home appliance intelligence and the rise of smart and connected products further upgrading the industrial structure. 2. Air conditioning industry The domestic market is expected to enter a period of deep adjustment and consolidation. Due to macroeconomic factors consumer confidence and the real estate sector market demand faces significant pressure. The industry will simultaneously face challenges of "high inventory high costs and weak demand." In this context industry reshuffling may intensify and market competition will comprehensively shift towards technical value supply chain efficiency and brand resilience. Market share is expected to further concentrate on leading enterprises. In the overseas market global energy efficiency and environmental protection standards are continuously upgraded while trade barriers and high costs have become significant features.Market demand shows clear regional differentiation and structural growth trends with consumers increasingly focusing on energy-saving smart connectivity and customized solutions for specific usage scenarios. From a competitive standpoint the core focus has shifted from capacity and price competition to global battles centered on brand power localized operations and comprehensive technical solutions. 4 6Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 3. Washing machine industry The domestic market is expected to enter a deep consolidation phase under policy support and a competitive landscape with growth momentum shifting from total expansion to structural upgrades. Policy-wise the new round of "trade-in" policies focuses on grade-I energy-efficient products forcing enterprises to accelerate their transition to greener and higher-end products. In terms of products AI technology is evolving from "passive operation" to "active intelligence." Intelligent washing machines with visual recognition and self-learning algorithms have become mainstream enabling automatic identification of fabric materials and dynamic optimization of washing programs. Meanwhile multi-tub washing models continue to penetrate responding to specific scenarios such as pet care and maternal and child needs. On the market side simple price wars are no longer sustainable. Solution sets are gradually replacing single-function products.Enterprises must explore new growth spaces in the stock market through green and intelligent upgrades and deep engagement with different scenarios. Globally energy efficiency upgrades and the rapid development of smart technologies are driving structural upgrades. After three years of rapid growth export volumes are at a high point and growth has slowed due to overseas tariffs and geopolitical friction. 4. Major kitchen appliance and small home appliance industry In 2025 the industry faces demand exhaustion and a shift in momentum. The future direction will focus on personalization scenario-based solutions and health upgrades with smart and green innovations at the core.The kitchen and bathroom markets are generally weak with both volume and value declining across multiple categories. Replacement and structural upgrades are becoming the core focus. On the demand side the replacement rate exceeds 50% and users are increasingly segmented with offline channels being the main purchase scene. On the product side the industry is shifting from parameter competition to value competition. The implementation of new national standards across categories will drive energy efficiency and safety upgrades. The competitive environment is intensifying with the "Matthew effect" making survival space for small and medium brands increasingly squeezed.The small home appliance market is seeing slower growth in traditional categories with emerging categories such as tea dispensers and small health appliances becoming the core growth drivers. The fusion of the Internet of Things (IoT) and AI chips is enabling small home appliances to achieve precise connectivity and proactive intelligence. Emerging e-commerce remains the growth engine with leading brands accelerating their omnichannel layout. Brand competition is fierce with concentration among top brands increasing and small and medium brands focusing on niche markets for breakthroughs. 5. Biomedical industry 4 7Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Under the national strategies of "Healthy China 2030" and "Developing New Quality Productive Forces" the biomedical industry is at a key stage of advancing domestic replacement.Policies have not only provided legal guarantees and tax incentives for technological innovation in domestic equipment but have also optimized the review and approval mechanisms creating unprecedented market opportunities for leading enterprises with core technologies. Currently the core of industry competition has shifted from simple price wars to comprehensive strength competitions based on independent innovation reliable quality and full-lifecycle service.(III) 2026 Business Plan 1. Business strategy In 2026 the Company will continue to focus on five core initiatives—innovation-driven development resource integration industrial synergy marketing transformation and digital transformation—to accelerate high-quality development. The goal for the year is to achieve both scale and profit growth. (1) Innovation-driven industry capability building The Company will focus on four key dimensions—technology innovation product innovation manufacturing innovation and management innovation—to continually enhance core industrial competitiveness. The Company will stay committed to the core business avoiding merely following trends and instead lead with innovation to build differentiated competitive advantages. It will strengthen its core business foundation foster innovation ecosystems and ensure a symbiotic relationship between innovation and the main business to jointly build competitive advantages. (2) Resource integration for industrial ecosystem The Company will continue to advance the dual circulation strategy (domestic and international) fostering synergy between domestic and international operations. In the overseas market it will leverage its strong overseas customer base to accelerate the expansion of its industrial matrix and cultivate a solid second growth curve. In the domestic market it will convert the innovation and efficiency capabilities honed in the domestic market into a powerful support for international expansion. Looking to the future in the face of ecological competition the Company will build on its foundation in the refrigerator-washer industry promote the collaborative development of new product categories establish a sustainable industry ecosystem and continuously strengthen its global competitive capabilities. (3) Industrial synergy to accelerate industrial development The Company will focus on technological and R&D collaboration lean manufacturing supply chain management and quality improvement to achieve coordinated breakthroughs and system integration. By sharing methodologies and reusing platform capabilities the Company will 4 8Changhong Meiling Co. Ltd. 2025 Annual Report Full Text break down industry boundaries and optimize resource allocation. The Company will enhance organizational efficiency through system collaboration and accelerate development by promoting integration and mutual growth among different business segments. (4) Marketing transformation to create a user-centric ecosystem The Company will steadily build a user-centered ecosystem driven by dual efforts in refrigerator-washer integration kitchen-refrigerator integration and retail transformation. Starting from product differentiation the Company will enhance user connection and traffic management through differentiated IP strategies accumulating brand momentum. The Company will pursue a dual approach: B2B with a focus on customer needs and B2C with a focus on user needs collaborating to drive user-centric marketing across all channels continually improving user engagement and operational effectiveness. (5) Digital transformation to enhance operational efficiency The Company will view efficiency as a strategic advantage and utilize digital transformation to improve quality and efficiency across the entire value chain. The Company will focus on its core business reduce SKUs and optimize resource allocation. It will strengthen human resource management and organizational effectiveness adopting a "simplification" approach to redesign processes and improve operational efficiency. Through digital tools the Company will create a seamless end-to-end operation system injecting strong momentum for sustainable development. 3. Market strategy (1) Refrigerator (Freezer) industry The Company will implement the "1+3+4" core strategy focusing on "user-centric" and integrating the three key elements of "people product and place." The Company will execute four key actions: "digital platforms grassroots value creation and flagship model promotion." The goal is to move from managing customers to managing users. The Company will focus on integrating online and offline channels expanding the multi-dimensional approach to "people product and place" from a singular focus. This will involve transitioning from passive traffic to asset-driven customer engagement from a single channel to a full-scenario experience and upgrading from functional value to emotional value. In terms of channels the Company will promote the refrigerator-washer product integration deepen efforts in key home markets and build up brands through investment and exclusive store development. The Company will strengthen online operations on platforms like Douyin Xiaohongshu and live streaming focusing on creating private user pools. It will integrate content-driven and business-driven strategies to optimize brand image focusing on the "freshness" proposition and emphasizing high-end market positioning. Product-wise the Company will focus on trends such as "large capacity inverter and AI" with mid-range products highlighting differentiation and low-end products optimizing costs. 4 9Changhong Meiling Co. Ltd. 2025 Annual Report Full Text It will continue to deepen mature markets while expanding emerging markets and strengthening the online and R&D capabilities to drive user-oriented transformation across the entire supply chain. (2) Air conditioning industry In the domestic market the Company will adhere to the business strategy of "product excellence brand prioritization channel co-creation and direct-to-consumer". On the product side the Company will focus on user needs and drive product iteration and upgrades through technological innovation enhancing the smart product label. On the channel side the Company will maintain diversified and collaborative development strengthen online and offline integration and continue improving channel efficiency and coverage quality. On the user side the Company will steadily promote marketing transformation enhance user direct access and service experience while increasing brand influence. In the overseas market the Company will implement the "Three Increases and One Strengthening" strategy to expand market growth potential. This includes increasing the product lineup with window and mobile air conditioners implementing targeted marketing strategies based on the characteristics of different regional markets expanding market share in key customer segments solidifying existing partnerships seeking further breakthroughs and acquiring orders from new markets and clients with an emphasis on engaging mainstream customers in potential markets. Additionally the Company will strengthen support for mid-tier customers and stabilize order volumes from this group consolidating the overall business foundation. (3) Washing machine industry In the domestic market the focus for drum washing machines will be on expanding the 12KG large-capacity series around the “As Hand Washing” and “BlueOxygen As Hand Washing” models to enhance the competitiveness of mid-tier products. High-end products will rely on ultra- thin flush-embedded technology to expand fully flat flush-embedded designs AI laundry care and integrated product solutions. The Company will develop products and technologies for niche markets such as multi-drum washing heat pump washing and drying integration and integrated partition washing to expand the high-end product lineup and enhance brand value. For the pulsator washing machines the Company will rely on the Hercules technology to advance the Hercules PRO line creating a competitive edge. The Company will focus on key home markets such as Anhui and Sichuan-Chongqing and build retail capabilities around core stores to increase market share. The Company will continue to focus on key regions target key customers enhance product competitiveness and expand product categories by increasing product supply and upgrading energy efficiency to meet differentiated needs aiming to build a leading global brand for drum washing machines. (4) Major kitchen appliance and small home appliance industry 5 0Changhong Meiling Co. Ltd. 2025 Annual Report Full Text The Company remained user-centric focusing on kitchen and lifestyle scenarios and promote multi-category all-channel integrated operations to steadily build industrial capabilities and inject continuous power for high-quality industry development. Technological innovation will drive product upgrades with AI technology deeply integrated while fresh water technology will undergo iterative upgrades to strengthen the product lineup. The Company will reinforce product labels focused on “freshness” “health” and “intelligence.” Category collaboration will deepen and dual-line integration will create a full-channel matrix to enhance ecological cooperation and strengthen brand influence. The Company will continue to leverage digitalization to improve quality and efficiency continuously optimize the supply chain and after-sales service system and build a closed-loop service process creating user trust and enhancing brand reputation with professional services. (5) Biomedical industry The Company will focus on opportunities in the field of life sciences continuing to deepen its business philosophy of "technology-based product-based market-oriented and customer-centered development” relying on the product strategy of “vertically expanding sample banks andhorizontally expanding laboratories” to promote the simultaneous scaling and quality development of various services. In terms of market expansion the Company will continue to strengthen service capabilities and channel system development optimizing domestic market channels to enhance user coverage and penetration in key areas. For the overseas market theCompany will focus on both developed and emerging markets advancing a strategy of “scalingup old customers and strengthening new customer outreach.” The Company will further build a clear comprehensive distribution network significantly enhancing overall market competitiveness.(IV) Potential risks and countermeasures In 2026 facing intensified competition and rising uncertainty in the external environment the Company may face the following key risks: 1. Industry competition and demand fluctuation risk The domestic home appliance industry is experiencing increased competition with a high degree of product homogeneity. With the diminishing marginal effect of the “trade-in” policy and the shift in consumption towards quality and scenario-based upgrades the Company will continue to strengthen its technology-driven innovation use AI to empower product iteration and enhance user experience and plan ahead with product development and all-channel operations to strive for increased market share in the midst of competition. 2. Exchange rate fluctuation risk Potential significant exchange rate fluctuations may arise from evolving global dynamics. 5 1Changhong Meiling Co. Ltd. 2025 Annual Report Full Text The Company adheres to a prudent business approach with ongoing close monitoring of exchange rate fluctuations and cautious exchange rate operations to minimize adverse impacts of exchange rate fluctuations. 3. Risk of fluctuations in bulk material prices The main raw materials of the Company's products include steel copper aluminum plastics and chemical materials etc. If the prices of the said bulk raw materials fluctuate greatly it will have a certain impact on the related costs and operating performance of the Company. The Company will continue to strengthen monitoring of bulk materials and take timely measures to control cost fluctuations. 4. Trade frictions and geopolitical impacts The Company pays close attention to the impact of international trade frictions and geopolitical uncertainties on its global business. It makes relevant plans in advance takes various risk response measures responds quickly and mitigates the impact.In 2026 the Company will focus on the business philosophy of "innovation-driven development resource integration industrial synergy marketing transformation and digital transformation" to actively respond to market changes. Through early product technology and market positioning the Company aims to drive its transformation toward high-end intelligent products continually optimize its product structure enhance operational efficiency and improve overall competitiveness striving to provide better products and services for consumers and create greater value for shareholders.XII. Research Communication Interviews and Other Activities During the Reporting Period √ Applicable □ Not applicable Type of Main Discussion Reception Reception Reception Basic Information Index of Reception Reception Target Topics and Provided Time Location Method Research Target Materials http://www.cninfo.com.cn/new/ The Company’s disclosure/detailplate=szse&o Administrative Broad Fund Runzhou The Company's January 6 rgId=gssz0000521&stockCode Center Onsite research Institution Investment and China operations and related 2025 =000521&announcementId=12 Conference Securities matters 22246608&announcementTime Room No. 2 =2025-01-06%2019:38 http://www.cninfo.com.cn/new/ The Company’s disclosure/detailplate=szse&o Administrative The Company's January 9 Online platform Great Wall Fund and rgId=gssz0000521&stockCode Center Institution operations and related 2025 communication Southwest Securities =000521&announcementId=12 Conference matters 22285357&announcementTime Room No. 1 =2025-01-09%2018:14 5 2Changhong Meiling Co. Ltd. 2025 Annual Report Full Text http://www.cninfo.com.cn/new/ The Company’s Hongde Fund Orient disclosure/detailplate=szse&o Administrative The Company's January 14 Fund Galaxy Fund rgId=gssz0000521&stockCode Center Onsite research Institution operations and related 2025 and Southwest =000521&announcementId=12 Conference matters Securities 22333197&announcementTime Room No. 2 =2025-01-14%2019:16 http://www.cninfo.com.cn/new/ The Company’s disclosure/detailplate=szse&o Administrative The Company's January 22 rgId=gssz0000521&stockCode Center Onsite research Institution E Fund operations and related 2025 =000521&announcementId=12 Conference matters 22405134&announcementTime Room No. 2 =2025-01-22%2017:50 http://www.cninfo.com.cn/new/ disclosure/detailplate=szse&o The Company's February Company Orient Securities rgId=gssz0000521&stockCode Onsite research Institution operations and related 26 2025 Office Asset Management =000521&announcementId=12 matters 22650512&announcementTime =2025-02-26%2018:00 ABC-CA Fund Management Guotai Fund Dacheng Fund Huatai-PB Fund Taikang Asset BOSC Fund Great Wall Fund Broad Fund AVIVA-COFCO United Advance Guoxin Investment Guolian Securities http://www.cninfo.com.cn/new/ The Company’s TF Securities disclosure/detailplate=szse&o Administrative The Company's April 8 Kaiyuan Securities rgId=gssz0000521&stockCode Center Onsite research Institution operations and related 2025 Guotou Securities GF =000521&announcementId=12 Conference matters Securities Founder 23031508&announcementTime Room No. 1 Securities CICC =2025-04-08%2018:44 Shenwan Hongyuan Securities Guosheng Securities Southwest Securities Huaan Securities China Securities Guotai Haitong Securities Huaxi Securities Industrial Securities and CITIC Securities Investors who wish to participate in the 2024 Holding the 2024 http://www.cninfo.com.cn/new/ The Company’s Annual Performance Annual Performance disclosure/detailplate=szse&o Administrative Briefing can do so April 15 Briefing to address rgId=gssz0000521&stockCode Center Others Others through the "Investor 2025 questions and =000521&announcementId=12 Conference Relations Interactive concerns raised by 23099862&announcementTime Room No. 2 Platform" on investors =2025-04-15%2018:34 Panorama Network (https://ir.p5w.net) The Company’s http://www.cninfo.com.cn/new/ Administrative Sunshine Asset and The Company's disclosure/detailplate=szse&o May 7 2025 Center Onsite research Institution Guosheng Home operations and related rgId=gssz0000521&stockCode Conference Appliance matters =000521&announcementId=12 Room No. 2 23490152&announcementTime 5 3Changhong Meiling Co. Ltd. 2025 Annual Report Full Text =2025-05-07%2018:26 http://www.cninfo.com.cn/new/ The Company’s disclosure/detailplate=szse&o Administrative The Company's May 12 Online platform Sinolink Securities rgId=gssz0000521&stockCode Center Institution operations and related 2025 communication and Huatai Baoxing =000521&announcementId=12 Conference matters 23529209&announcementTime Room No. 2 =2025-05-12%2019:48 http://www.cninfo.com.cn/new/ The Company’s disclosure/detailplate=szse&o Administrative Minsheng Royal Fund The Company's May 30 Online platform rgId=gssz0000521&stockCode Center Institution and Guosheng operations and related 2025 communication =000521&announcementId=12 Conference Securities matters 23733052&announcementTime Room No. 2 =2025-05-30%2017:14 The Company’s http://www.cninfo.com.cn/new/ Administrative disclosure/detailplate=szse&o GF Fund Guolian The Company's Center Online platform rgId=gssz0000521&stockCode June 4 2025 Institution Fund and Southwest operations and related Conference communication =000521&announcementId=12 Securities matters Rooms No. 2 23765795&announcementTime and 4 =2025-06-04%2018:26 http://www.cninfo.com.cn/new/ The Company’s disclosure/detailplate=szse&o Administrative The Company's rgId=gssz0000521&stockCode June 5 2025 Center Onsite research Institution Bosera Funds operations and related =000521&announcementId=12 Conference matters 23788405&announcementTime Room No. 2 =2025-06-05%2019:08 http://www.cninfo.com.cn/new/ The Company’s disclosure/detailplate=szse&o Administrative The Company's rgId=gssz0000521&stockCode June 6 2025 Center Onsite research Institution WFM Asia operations and related =000521&announcementId=12 Conference matters 23801620&announcementTime Room No. 1 =2025-06-06%2017:32 http://www.cninfo.com.cn/new/ The Company’s disclosure/detailplate=szse&o Administrative The Company's June 26 Online platform rgId=gssz0000521&stockCode Center Institution CITIC Securities AM operations and related 2025 communication =000521&announcementId=12 Conference matters 23999543&announcementTime Room No. 2 =2025-06-26%2019:44 http://www.cninfo.com.cn/new/ The Company’s disclosure/detailplate=szse&o Administrative J.P. Morgan Asset The Company's July 10 Online platform rgId=gssz0000521&stockCode Center Institution Management and operations and related 2025 communication =000521&announcementId=12 Conference Kaiyuan Securities matters 24130885&announcementTime Room No. 2 =2025-07-10%2018:18 Penghua Fund Huatai Baoxing Fund Everbright Securities Asset Management http://www.cninfo.com.cn/new/ The Company’s ABC-CA Fund disclosure/detailplate=szse&o Administrative The Company's August 22 Online platform Management Orient rgId=gssz0000521&stockCode Center Institution operations and related 2025 communication Assets V.Stone Fund =000521&announcementId=12 Conference matters Bosera Funds 24558601&announcementTime Room No. 2 Fullgoal Fund HuaAn =2025-08-22%2018:18 Fund Guosheng Securities Southwest Securities Kaiyuan 5 4Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Securities China Merchants Securities Shenwan Hongyuan Securities Guotai Haitong Securities China International Capital Corporation (CICC) Zhongtai Securities Caitong Securities TF Securities Sinolink Securities and Huaxi Securities http://www.cninfo.com.cn/new/ The Company’s disclosure/detailplate=szse&o Administrative The Company's August 29 Online platform Kaiyuan Securities rgId=gssz0000521&stockCode Center Institution operations and related 2025 communication and Hongde Fund =000521&announcementId=12 Conference matters 24624393&announcementTime Room No. 1 =2025-08-29%2018:22 http://www.cninfo.com.cn/new/ The Company’s disclosure/detailplate=szse&o Administration BOCOM Schroders The Company's December rgId=gssz0000521&stockCode Center Onsite research Institution Fund and Hua Chuang operations and related 11 2025 =000521&announcementId=12 Conference Securities matters 24868695&announcementTime Room No. 3 =2025-12-11%2017:14 XIII. Formulation and Implementation of Market Value Management System and Valuation Boost Plan Has the Company established a market value management system □ Yes √ No Has the Company disclosed plans for valuation increase √ Yes □ No From February 27 2025 to February 27 2026 Changhong Meiling's B-share stock has closed below the most recent audited net assets per share attributable to the shareholders of the listed company for each trading day over the past 12 months. According to the Listed Company Supervision Guidelines No. 10 – Market Value Management this situation requires the formulation of a valuation enhancement plan. The 28th meeting of the 11th Board of Directors of the Company approved the Proposal on the B-Share Valuation Enhancement Plan.For the year 2026 the Company plans to enhance its investment value through improving its operational capabilities establishing a sound medium- and long-term incentive mechanism cash dividends strengthening investor relations management and ensuring the quality of information disclosure.For specific details please refer to the Announcement of Changhong Meiling Co. Ltd. on B- share Valuation Enhancement Plan (Announcement No.: 2026-022) disclosed on April 3 2026 on 5 5Changhong Meiling Co. Ltd. 2025 Annual Report Full Text the Juchao Website (www.cninfo.com.cn) and other designated information disclosure media.XIV. The Implementation of the Action Plan of "Double Improvement of Quality and Return"Has the Company disclosed the action plan of "double improvement of quality and return” □ Yes √ No 5 6Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Section IV Corporate Governance Environmental and Social Responsibility I. Overview of Corporate Governance (I) Corporate governance overview The Company strictly adheres to the Company Law Securities Law the CSRC’s Guidelines on Listed Company Governance the Listing Rules of Stocks on the Shenzhen Stock Exchange and the Self-Regulation Guidelines of the Shenzhen Stock Exchange for Listed Companies No. 1 – Standard Operations for Companies Listed on the Main Board along with other relevant laws and regulations. The Company continuously improves its corporate governance structure enhances its internal control system and elevates the standardization of its operations forming a decision-making and management structure led by the board of shareholders the board of directors and management team. The Company's board of shareholders board of directors and management team each have clear responsibilities ensuring scientific decision-making and coordinated operations laying a solid foundation for the Company's continued stable and healthy development.During the reporting period the Company revised and issued documents such as the Articles of Association the Rules of Procedure for the Board of Shareholders and the Rules of Procedure for the Board of Directors. Overall the Company's governance complies with the relevant national laws and regulations as well as the guidelines issued by the CSRC and the Shenzhen Stock Exchange concerning listed company governance. 1. Shareholders and the Board of Shareholders The Board of Shareholders is the highest authority of the Company. The Company is committed to safeguarding the legitimate rights and interests of shareholders and shareholders exercise their powers through the shareholders' meeting. The Company strictly adheres to the provisions of the Articles of Association the Rules of Procedure for the Board of Shareholders and other systems regarding the convening holding and voting procedures of shareholders' meetings. It treats all shareholders especially minority shareholders equally and ensures that all shareholders have an equal standing and can fully exercise their rights. The Company highly values shareholder returns and strictly follows the Guidelines for Listed Company Supervision Guidelines No. 3 – Cash Dividends of Listed Companies and other relevant provisions. The Company has established and implemented a consistent and reasonable profit distribution plan maintaining the consistency and rationality of its dividend policy. During the reporting period the Company held four shareholders' meetings. In addition to physical meetings the Company also 5 7Changhong Meiling Co. Ltd. 2025 Annual Report Full Text provided a secure economical and convenient online voting method to facilitate shareholders' participation. The shareholders' meetings were held in compliance with relevant laws and regulations and all matters submitted for the approval of the board of shareholders were separately counted for minority investors' votes. The results of the vote counting were promptly disclosed effectively protecting the rights of minority shareholders and ensuring that all shareholders especially minority shareholders could fully exercise their shareholder rights. 2. The Company and Controlling Shareholder The Company has independent and complete business and autonomous operational capabilities and operates independently from the controlling shareholder in terms of business personnel assets organization and finances. During the reporting period the Company's controlling shareholder adhered to the Guidelines on Listed Company Governance the Company's Articles of Association and the Company's Related Party Transaction Management System. The controlling shareholder strictly regulated its actions and exercised its rights through the shareholders' meetings in accordance with the law. There were no instances of the controlling shareholder or its affiliates intervening directly or indirectly in the Company's decision-making or operations. Additionally there were no instances of the controlling shareholder or its affiliates occupying the Company's funds or assets. 3. Directors and board of directors The Company strictly follows the provisions of the Articles of Association and the Rules of Procedure for the Board of Directors to convene and hold board meetings. The procedures for board decision-making and information disclosure comply with the relevant provisions. All of the Company’s directors are able to carry out their work in accordance with the Rules of Procedure for the Board of Shareholders and the Independent Director System. They diligently attend board and shareholder meetings exercise their powers in accordance with the law and perform their duties responsibly. The Company’s independent directors strictly adhere to the Management Measures for Independent Directors of Listed Companies of the China Securities Regulatory Commission ("CSRC") and the Company’s Independent Director System and Independent Director Special Meeting Working System. They maintain full independence in their work and with a diligent conscientious and loyal work attitude actively participate in the Company's decision-making. Independent directors engage in various forms of participation including attending meetings on-site investigations reviewing documents and listening to reports and discussions. They thoroughly review various proposals such as related party transactions and cash dividends and convene special meetings to deliberate on these matters. Independent directors fully exercise their supervisory and check-and-balance roles safeguarding the interests of the Company and all shareholders especially minority shareholders. The board of directors has established five specialized committees: the Strategy Committee Compensation and Appraisal Committee Audit Committee Nomination Committee and ESG Management Committee. Each 5 8Changhong Meiling Co. Ltd. 2025 Annual Report Full Text committee is responsible for discussing making decisions on supervising and evaluating significant company matters based on the corresponding implementation guidelines. These committees play a crucial role in supporting the board in making scientific decisions enhancing decision-making efficiency and quality. 4. Performance Evaluation and Incentive Mechanism According to the Articles of Association the Company’s board of directors decides on the appointment or dismissal of the Company’s president vice presidents CFO board secretary and other senior executives as well as on their remuneration and reward/punishment matters. The board based on the president's nominations decides on the appointment or dismissal of the Company's vice presidents CFO board secretary and other senior executives and determines their compensation and reward/punishment matters. The performance evaluations of directors and senior executives are conducted by the Company’s Human Resources Department on a daily basis.At the end of the year the Company’s Compensation and Appraisal Committee assesses and evaluates their performance. In accordance with the Corporate Governance Code for Listed Companies (Revised in October 2025) the performance-based remuneration for directors and senior executives should account for no less than 50% of the total of their base salary and performance-based compensation. The Company has established and continually improved fair and transparent performance evaluation standards for directors and senior executives along with an incentive and restraint mechanism. 5. Stakeholder Interests The Company fully respects and protects the legitimate rights and interests of relevant stakeholders strengthening communication and dialogue with all parties to achieve a balanced coordination of interests among society shareholders the Company and employees thereby promoting the Company’s sustained stable and harmonious development. In safeguarding shareholders' interests the Company strictly adheres to the relevant regulations treating all shareholders equally especially minority shareholders. By standardizing the convening holding and voting procedures of the shareholders’ meetings the Company ensures that all shareholders have equal rights and the opportunity to fully exercise their rights. In safeguarding employee rights and interests the Company based on its strategic and business development needs continuously advances and refines talent mechanisms including talent pipeline development learning and development career pathways end-to-end performance management and compensation and incentive systems. It regularly evaluates and monitors employee engagement satisfaction levels and corporate culture indices continuously improves areas of employee concern fully leverages employee capabilities and stimulates employee vitality thereby achieving organizational objectives while supporting employees in realizing their personal development goals. For the protection of consumers' rights and interests the Company has enhanced the functionality of official channel service platforms such as 4008 service hotline 5 9Changhong Meiling Co. Ltd. 2025 Annual Report Full Text brand official website WeChat official account to ensure timely response to user needs and issues.Additionally the Company has launched services like the M-Fresh preservation commitment for refrigerators to improve consumer satisfaction. In safeguarding supplier rights and interests the Company has established a comprehensive procurement management system regularly optimized and updated procedural documents standardized digital system tools and exercised strict control over every stage of the procurement process. It cultivates core and strategic suppliers implements a high-end supply chain development program and fosters a collaborative cooperative and mutually beneficial relationship with suppliers. In safeguarding the interests of stakeholders the Company based on the principle of equality and mutual benefit promotes two-way communication and information sharing striving to establish a win-win cooperation model of shared development and growth with its stakeholders. 6. Information Disclosure and Transparency During the reporting period the Company strictly adhered to the Listing Rules of Stocks on the Shenzhen Stock Exchange and its Information Disclosure Management System strengthening the management of information disclosure matters and actively fulfilling its information disclosure obligations. The Company used Securities Times China Securities Journal and the Juchao Website (www.cninfo.com.cn) as its designated media for information disclosure. During the reporting period the Company implemented the Insider Information Registration System Insider Information Confidentiality System and External Information Reporting and Usage Management System. The Company maintained strict confidentiality procedures for significant unpublished insider information controlling the scope of individuals with access to such information. The Company diligently fulfills its obligations to provide true accurate timely and complete information disclosure ensuring that all investors have equal access to information and other legal rights. 7. Investor Relations Management The Company continuously improves its investor communication mechanisms deepens its engagement with investors and enhances their understanding and recognition of the Company thereby effectively protecting the legitimate rights and interests of investors. During the reporting period the Company strengthened its interactions with investors in various forms actively responding to their concerns and ensuring smooth communication channels. This helped establish an efficient and fair communication bridge between the Company investors and the public.The Company engaged with investors via the Shenzhen Stock Exchange's "Easy Interaction" platform (irm.cninfo.com.cn) carefully listening to their opinions and suggestions and ensuring that the interests of minority shareholders were well-protected. The Company also standardized the reception of investor visits telephone inquiries and responses to faxes and emails. Additionally the Company prudently handled media reports and treated all investors and institutional research visits 6 0Changhong Meiling Co. Ltd. 2025 Annual Report Full Text and consultations in a fair just and transparent manner. All communications related to investor interactions were promptly disclosed ensuring that all investors enjoyed equal access to information and other legal rights. Moreover the Company maintained regular communication with investors through telephone conferences participation in investment strategy meetings and other channels. These efforts further increased investors' understanding of the Company and continuously improved transparency in the Company's operations.To help investors gain a better understanding of the Company's performance financial status and other key aspects the Company organized the 2024 annual online performance briefing. This provided investors with a more comprehensive understanding of the listed company enhanced transparency and helped safeguard investors' legal rights. The Company remains committed to maintaining shareholders' equity upholding the principle of returning value to shareholders and providing long-term steadily increasing dividend returns. During the reporting period the Company referred to the Return Plan for Shareholders for the Next Three Years (2024-2026) and implemented the 2024 profit distribution plan sharing the development achievements with its shareholders.(II) Actual corporate governance status and compliance with legal administrative regulations and CSRC requirements □ Yes √ No There are no significant discrepancies between the Company’s governance practices and the relevant laws administrative regulations and the governance standards issued by the CSRC.II. Independence of the Company from the controlling shareholder and actual controllers in assets personnel finances organizational structure and business operations The Company and its controlling shareholder and actual controller are completely separated in terms of business personnel assets organizational structure and finances each maintaining independent accounting assuming their own responsibilities and risks and possessing fully independent business operations and self-sufficient management capabilities. 1. Business independence: The Company possesses independent and complete business operations as well as self-sufficient management capabilities. It has dedicated departments for procurement production technology sales and human resources managing its operations autonomously with production and operational personnel operating independently from the controlling shareholder and their affiliated entities. The Company's business operations are not influenced by or dependent on the controlling shareholder or its affiliates. 2. Personnel independence: The Company's personnel labor human resources and payroll are entirely independent. The President Vice Presidents CFO Board Secretary ad other senior executives work exclusively for the Company and receive compensation directly from it. They do 6 1Changhong Meiling Co. Ltd. 2025 Annual Report Full Text not hold any non-directorial administrative positions in the controlling shareholder or its affiliated entities and do not receive compensation from them. 3. Asset independence: The Company owns independent production and operational facilities from the controlling shareholder with a complete asset structure including production systems auxiliary production systems supporting facilities land use rights and property ownership. The Company also has independent procurement and sales systems and there are no instances of assets or funds being occupied by the controlling shareholder or its affiliates. 4. Organizational independence: The Company has established an organizational structure that is fully independent of the controlling shareholder. The board of shareholders board of directors and internal departments operate independently without interference from the controlling shareholder in the Company's operational decisions. The Company has strengthened its power-checking mechanism through the board of shareholders board of directors independent directors and various specialized committees ensuring an effective corporate governance structure. 5. Financial independence: The Company has an independent financial management department with its own accounting system and financial management policies. It operates separate bank accounts and files tax returns independently. The Company does not share bank accounts with the controlling shareholder or any other entity controlled by them. As an independent taxpayer the Company fulfills all tax reporting and payment obligations as required by law.III. Same-Industry Competition □ Applicable √ Not applicable IV. Board of Directors and Senior Executives (I) Basic information Shares Other Added Shares Chang Reason N G Initial in the Reduced es in Ending for a en Shareho Curre in the Share Shareho Changes Name Position Status Term Start Term End m de lding nt Current holdin lding in e r (shares) Period Period g (shares) Shareho (share (shares) (share lding s) s) Li M Curre February 11 Xiaodon al 41 Chairman June 18 2027 0 0 0 0 0 N/A nt 2026 g e Curre December 16 Director June 18 2027 M nt 2025 Tang al 55 Curre September 11 800000 0 0 0 800000 N/A Youdao President June 18 2027 e nt 2025 Vice Appoi March 29 September 10 6 2Changhong Meiling Co. Ltd. 2025 Annual Report Full Text President ntmen 2021 2025 t and Remo val M Zhao Curre December 23 al 50 Director June 18 2027 0 0 0 0 0 N/A Qilin nt 2021 e Fe Yi m Curre 47 Director June 18 2024 June 18 2027 0 0 0 0 0 N/A Suqin al nt e M Lu Employee Curre al 41 April 1 2026 June 18 2027 0 0 0 0 0 N/A Haiyang Director nt e M Fang Curre al 56 Director June 18 2024 June 18 2027 0 0 0 0 0 N/A Wei nt e Fe Independe Mou m Curre October 12 October 12 60 nt 0 0 0 0 0 N/A Wen al nt 2020 2026 Director e M Independe Hong Curre October 12 October 12 al 51 nt 0 0 0 0 0 N/A Yuanjia nt 2020 2026 e Director Cheng M Independe Curre Wenlon al 56 nt June 18 2024 June 18 2027 0 0 0 0 0 N/A nt g e Director M April 1 2026 June 18 2027 Huang Vice Curre al 50 0 0 0 0 0 N/A Herong President nt e M April 1 2026 June 18 2027 Tang Vice Curre al 38 0 0 0 0 0 N/A Shenjie President nt e M April 1 2026 June 18 2027 Zhang Vice Curre al 39 0 0 0 0 0 N/A Hao President nt e M Yang Curre al 51 CFO June 18 2025 June 18 2027 0 0 0 0 0 N/A Bing nt e Fe Yang m Board Curre October 22 41 June 18 2027 0 0 0 0 0 N/A Liuxu al Secretary nt 2025 e Wu M Resig January 26 Dinggan al 53 Chairman April 26 2019 570500 0 0 0 570500 N/A ned 2026 g e M Zhong Resig November 25 al 53 Director May 21 2019 236175 0 0 0 236175 N/A Ming ned 2025 e M Cheng Resig al 56 Director June 18 2024 April 1 2026 0 0 0 0 0 N/A Ping ned e M April 1 2026 Hu Vice Resig al 51 June 21 2018 178050 0 0 0 178050 N/A Zhaogui President ned e Kou M Vice Resig November 22 April 1 2026 56 0 0 0 0 0 N/A Huamen al President ned 2017 6 3Changhong Meiling Co. Ltd. 2025 Annual Report Full Text g e Wang M Vice Resig Xiaoche al 45 May 8 2025 April 1 2026 144 0 0 0 144 N/A President ned ng e Vice Resig January 21 June 18 2024 President ned 2026 Fe Board Resig October 21 m May 22 2009 Li Xia 45 Secretary ned 2025 414600 0 0 0 414600 N/A al Chief e Resig November 25 January 21 Complian ned 2022 2026 ce Officer M Pang Resig October 25 al 50 CFO June 17 2025 0 0 0 0 0 N/A Haitao ned 2017 e 219946219946 Total -- -- -- -- -- -- 0 0 0 -- 99 Note: In accordance with the Company Law and Guidelines for Listed Companies the Company will implement a reform of the board of supervisors by eliminating the board and supervisory roles starting from September 2025. 1. Resignation of Directors and Senior Executives During the Reporting Period √ Yes □ No (1) On June 17 2025 Mr. Pang Haitao resigned from his position as CFO and any other positions due to a job transfer. Currently holds a position in an entity related to the controlling shareholder. (2) On October 21 2025 Ms. Li Xia resigned from her position as the Board Secretary due to job adjustments but she continued to serve as the Vice President Chief Compliance Officer and General Counsel. On January 21 2026 Ms. Li Xia resigned from her position as the Vice President Chief Compliance Officer General Counsel and all other positions due to a job transfer.Currently holds a position in an entity related to the controlling shareholder. (3) On November 25 2025 Mr. Zhong Ming resigned from his position as Director Member of the Strategy Committee Nomination Committee ESG Management Committee and all other positions of the 11th Board of Directors due to a job transfer.Still holding a position in a related party entity. (4) On January 26 2026 Mr. Wu Dinggang resigned from his positions as Director Chairman Chair of the Strategy Committee Member of the Audit Committee Member of the Nomination Committee Member of the Compensation and Appraisal Committee Chair of the ESG Management Committee and all other positions of the 11th Board of Directors due to a job transfer Still holds a position in the controlling shareholder's entity. (5) On April 1 2026 due to the restructuring of the Company's governance Mr. Cheng Ping no longer serves as a Director of the 11th Board of Directors Member of the Strategy Committee 6 4Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Member of the ESG Management Committee or holds any other position in the Company. He still holds a position at the controlling shareholder’s related entity. (6) On April 1 2026 Mr. Hu Zhaogui resigned from his position as Vice President due to a job transfer but continued to serve as the Chairman of the Company's subsidiary Sichuan Changhong Air Conditioner Co. Ltd. (7) On April 1 2026 Mr. Kou Huameng resigned from his position as Vice President and all other positions due to a job transfer. Currently serving in related positions at affiliated units. (8) On April 1 2026 Mr. Wang Xiaocheng resigned from his position as Vice President due to a job transfer. Continued to hold a position at the company afterward. 2. Changes in directors and senior executives √ Applicable □ Not applicable Name Title Types Date Reason At the 2026 first extraordinary shareholders' meeting it was approved to elect Mr. Li Xiaodong as a non- independent director of the 11th Board of Directors of Director Elected February 11 2026 the Company effective from the date of approval by the Li board of shareholders until the expiration of the 11th Xiaodo Board of Directors' term.ng At the 27th meeting of the 11th Board of Directors it was approved to elect Mr. Li Xiaodong as the Chairman Chairman Elected February 11 2026 of the 11th Board of Directors effective from the date of Board approval until the expiration of the 11th Board of Directors' term.At the 2025 third extraordinary shareholders' meeting it was approved to elect Mr. Tang Youdao as a non- independent director of the 11th Board of Directors Director Elected December 16 2025 effective from the date of approval by the board of Tang shareholders until the expiration of the 11th Board of Youda Directors' term.o At the 21st meeting of the 11th Board of Directors it Appoint was approved to appoint Mr. Tang Youdao as the CEO President September 11 2025 ments effective from the date of Board approval until the expiration of the 11th Board of Directors' term.At the 7th meeting of the 9th Employee Representative Lu Congress it was democratically elected to appoint Mr.Employee Haiyan Elected April 1 2026 Lu Haiyang as the employee director of the 11th Board Director g of Directors with a term that is consistent with the 11th Board of Directors' term.Wang At the 15th meeting of the 11th Board of Directors it Vice Appoint Xiaoch May 28 2025 was approved to appoint Mr. Wang Xiaocheng as the President ments eng Vice President effective from the date of Board 6 5Changhong Meiling Co. Ltd. 2025 Annual Report Full Text approval until the expiration of the 11th Board of Directors' term.At the 18th meeting of the 11th Board of Directors it Yang Appoint was approved to appoint Mr. Yang Bing as the CFO CFO June 18 2025 Bing ments effective from the date of Board approval until the expiration of the 11th Board of Directors' term.At the 22nd meeting of the 11th Board of Directors it Yang Board Appoint was approved to appoint Ms. Yang Liuxu as the Board October 22 2025 Liuxu Secretary ments Secretary effective from the date of Board approval until the expiration of the 11th Board of Directors' term.At the 28th meeting of the 11th Board of Directors it Huang Vice Appoint was approved to appoint Mr. Huang Herong as the Vice April 1 2026 Herong President ments President effective from the date of Board approval until the expiration of the 11th Board of Directors' term.At the 28th meeting of the 11th Board of Directors it Tang Vice Appoint was approved to appoint Mr. Tang Shenjie as the Vice April 1 2026 Shenjie President ments President effective from the date of Board approval until the expiration of the 11th Board of Directors' term.At the 28th meeting of the 11th Board of Directors it Zhang Vice Appoint was approved to appoint Mr. Zhang Hao as the Vice April 1 2026 Hao President ments President effective from the date of Board approval until the expiration of the 11th Board of Directors' term.Wu Resigne Due to a job transfer he no longer served as the Dingga Chairman January 26 2026 d Chairman and other roles.ng Zhong Resigne Due to a job transfer he no longer served as the Director November 25 2025 Ming d Director and other roles.Due to a restructuring of the Company’s governance he Cheng Resigne Director April 1 2026 ceased his roles as Director and other positions and was Ping d reassigned by the higher-level organization.Tang Appoint Vice Due to job adjustments he no longer served as Vice Youda ment and September 11 2025 President President.o Removal Hu Vice Resigne Due to job transfer he no longer served as Vice Zhaog April 1 2026 President d President.ui Kou Vice Resigne Due to job transfer he no longer served as Vice Huame April 1 2026 President d President.ng Wang Vice Resigne Due to job transfer he no longer served as Vice Xiaoch April 1 2026 President d President.eng Board Resigne Due to job adjustment she no longer served as Board October 21 2025 Secretary d Secretary.Li Xia Vice Resigne Due to a job transfer the individual ceased their January 21 2026 President d position as Vice President and Chief Compliance Chief Resigne January 21 2026 Officer. 6 6Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Compliance d Officer Pang Resigne CFO June 17 2025 Due to a job transfer he no longer served as CFO.Haitao d (II) Employment information 1. Professional Background Key Work Experience and Current Responsibilities of the Company’s Current Directors and Senior Executives (1) Li Xiaodong male Tibetan born in April 1984 in Pingwu Sichuan a member of the Communist Party of China with a graduate degree in Business Administration from the University of Electronic Science and Technology of China holding a Master's degree in Business Administration. Mr. Li has held various positions including Business Manager at Sichuan Changhong Air Conditioner Co. Ltd.; Office Supervisor at Sichuan Changhong Electronics Holding Group Co. Ltd.; Head of Operations Management Department at Mianyang Science & Technology City Big Data Technology Co. Ltd.; Director of the Mass Organization Office and Secretary of the Youth League Committee at Sichuan Changhong Electronics Holding Group Co.Ltd.; Director of the Corporate Planning Department at Sichuan Changhong Electric Co. Ltd.; and Senior Expert and Convener of the Thought Laboratory Director of the Party Committee Organization Department Director of the Talent Development Department and Director of the Changhong Training Center at Sichuan Changhong Electronics Holding Group Co. Ltd. He currently serves as a Member of the Party Committee of Sichuan Changhong Electronics Holding Group Co. Ltd. and Chairman of the Company. (2) Tang Youdao male Han born in July 1970 in Xuancheng Anhui a member of the Communist Party of China with a Bachelor's degree in Industrial Management Engineering from Wuhan University of Technology. Mr. Tang has held various positions including Overseas Marketing Manager Marketing Department Head Overseas Marketing Department Head General Manager of the Overseas Business Division General Manager of the Refrigerator-washer Division Headquarters and General Manager and Vice President of the International Refrigerator- washer Division. He currently serves as a director and president of the Company and Chairman of Zhongke Meiling Cryogenic Technology Co. Ltd. (3) Zhao Qilin male Han born in September 1975 in Nanjiang Sichuan a member of the Communist Party of China with a Bachelor's degree in Rural Finance from Southwest University of Finance and Economics. He has held various positions including Accountant and Investment Project Manager in the Finance Department Manager of the Asset Management Division and Investment Management Division Securities Affairs Representative and Director of the Asset Management Department at Sichuan Changhong Electric Co. Ltd.; Financial Manager at Sichuan Changhong Innovation Investment Co. Ltd.; Chief Financial Officer of Sichuan Broadcasting & Television Starry Sky Changhong Digital Mobile TV Co. Ltd.;and Financial Director and Joint 6 7Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Company Secretary at Changhong Jiahua Holdings Co. Ltd. He currently serves as the Board Secretary Chief Compliance Officer General Counsel Director of the Board Office ESG Management Office Director and Comprehensive Management Department Head at Sichuan Changhong Electric Co. Ltd. Chairman of Sichuan Changhong Minsheng Logistics Co. Ltd. and Director of the Company. (4) Yi Suqin female Han born in August 1978 in Xiantao Hubei a member of the Communist Party of China. She holds a master’s degree in Business Administration (MBA) from the University of Electronic Science and Technology of China and a bachelor’s degree in International Accounting from Zhongnan University of Economics and Law. She is a senior accountant. She has held various positions at Sichuan Changhong Electric Co. Ltd. including Supervisor Accountant at the Jining Sales Branch and Shijiazhuang Sales Branch Marketing and Financial Supervisor and Cost and Expense Manager at the Multimedia Company Tax Manager and Head of the Tax Department at the Finance Department Senior Manager of Tax and Comprehensive Affairs and Deputy Director of the Financial Management Department. She currently serves as Financial Department Director at Sichuan Changhong Electronics Holding Group Co. Ltd. Director of Sichuan Changhong Group Finance Co. Ltd. Director of Mianyang Investment Holding (Group) Co. Ltd. and Director of the Company. (5) Lu Haiyang male Han born in October 1984 in Ji'an Jiangxi a member of the Communist Party of China with a Bachelor's degree from Zhejiang University of Technology. Mr.Lu has served as the Head of the Economic Audit Section at the Mianyang Audit Bureau and Deputy Director of the Audit Department at Sichuan Changhong Electronics Holding Group Co.Ltd. He currently serves as the Employee Director and Union Chairman of the Company. (6) Fang Wei male Han born in September 1969 in Wuhu Anhui a member of the Communist Party of China a Senior Accountant with a diploma. Mr. Fang has held various positions including Section Chief of the Finance Department at Hefei Sifang Chemical Group Co.Ltd.; Deputy Director and Director of the Financial Planning Department at Hefei Industrial Investment Holding Co. Ltd.; and General Manager of the Financial Planning Department at Hefei Industry Investment Holding (Group) Co. Ltd. He currently serves as the Chief Economist at Hefei Industrial Investment Holding Co. Ltd. and as a director of the Company. (7) Mou Wen female Han born in September 1965 in Hengshan Hunan with a Master's degree in Business Administration from Sichuan University. She has held positions as a Lecturer and Associate Professor in Accounting at the Business School Sichuan University. She has also served as an Independent Director at companies including Tibet Mining Development Co. Ltd.Sichuan Jinlu Group Co. Ltd. Changhong Huayi Compressor Co. Ltd. Jinhui Liquor Co. Ltd.Sichuan Teway Food Group Co. Ltd. Hebei Baoli Engineering Equipment Group Co. Ltd. Fulin Precision Machining Co. Ltd. and Chengdu Silicon Treasure Technology Co. Ltd. Additionally she has been an Independent Director at Sichuan Joyou Digital Technology Co. Ltd. a member 6 8Changhong Meiling Co. Ltd. 2025 Annual Report Full Text of the Investment Decision-Making Advisory Committee at Sichuan Chuanjiao Road & Bridge Co. Ltd. and a Financial Advisor to Sichuan Daka Electric Co. Ltd. She is currently an Associate Professor of Accounting and a Master's Supervisor at the Business School Sichuan University.She also serves as an Independent Director at Tibet Mining Development Co. Ltd. Chengdu Ruixue Fengtai Precision Electronics Co. Ltd. and as an Independent Director at the Company. (8) Hong Yuanjia male Han born in February 1975 in Shantou Guangdong with a Master's degree graduated from Shanghai University of Finance and Economics with a major in International Business Management and a Master's degree in MPAcc (Master of Professional Accounting) from Fudan University. He is a Certified Public Accountant International Accountant (AIA) Intermediate Accountant and Intermediate Economist. Mr. Hong has held various positions including Foreign Currency Payable Supervisor and Investment Supervisor at China Eastern Airlines Corporation Limited Deputy Manager of the Finance Department at Sancheng Hongji (Hong Kong) Co. Ltd. Shanghai Representative Office Accounting Manager at GE Lighting Co. Ltd. Accounting Manager at G&E Industrial Supplies Co. Ltd. and Financial Director at Lineage Power. He currently serves as the APAC Financial Director at Elo Touch Solutions (Shanghai) Co. Ltd. and as an Independent Director of the Company. (9) Cheng Wenlong male Han born in September 1969 in Ningguo Anhui with a Doctoral degree graduated from the University of Science and Technology of China with a Ph.D. in Engineering Thermophysics. Mr. Cheng has held various academic positions at the University of Science and Technology of China including Assistant Professor Lecturer Associate Professor and Professor. He has also served as an Independent Director at Beijing Jones Tech Co. Ltd. He currently serves as a Professor and Doctoral Supervisor at the School of Engineering Science University of Science and Technology of China and as the Vice President of the Anhui Association of Refrigeration in addition to being an Independent Director of the Company. (10) Huang Herong male Han born in October 1975 in Lichuan Jiangxi a member of the Communist Party of China graduated from Zhejiang University with a major in Refrigeration and Cryogenic Technology and earned an MBA from Sun Yat-sen University. Mr. Huang has held positions such as Head of the Technical Development Department General Manager of the Marketing Company Vice General Manager and General Manager at Zhongshan Changhong Electric Co. Ltd. He has also served as Vice General Manager and General Manager of the Central Air Conditioning Division of Sichuan Changhong Air Conditioner Co. Ltd. Vice General Manager of the International Division at Changhong Meiling. Currently he serves as the Vice President of the Company and General Manager of Sichuan Changhong Air Conditioner Co. Ltd. (11) Tang Shenjie male Han born in October 1987 in Lu'an Anhui with a Bachelor's degree from Anhui University of Engineering a Senior Engineer. Mr. Tang has held various positions including Product Manager at Changhong Meiling User and Product Center Director of the Standardized Operations Platform Director of the Product Competitiveness Platform and 6 9Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Assistant General Manager. He currently serves as the Vice President of the Company and General Manager of the Refrigerator (Freezer) Division. (12) Zhang Hao male Han born in February 1987 in Xuancheng Anhui with a Bachelor's degree from Hefei University of Technology. Mr. Zhang has held various positions including Product Planning Manager of the Washing Machine Division General Manager of the User and Product Center and Vice General Manager of the Washing Machine Division at Changhong Meiling Co. Ltd.. He currently serves as the Vice President of the Company and General Manager of the Washing Machine Division. (13) Yang Bing male Han born in December 1974 in Xichong Sichuan a member of the Communist Party of China a Senior Accountant with a Bachelor's degree graduated from Shanxi University of Finance and Economics. Mr. Yang has held various positions including Financial Supervisor at the Marketing Department Audit Accountant Manager of the Internal Control Department Manager of the General Ledger Department General Manager of the Capital Management Center at Sichuan Changhong Electric Co. Ltd. CFO at Zhongshan Changhong Electric Co. Ltd. Vice General Manager and Financial Director at Sichuan Changhong Air Conditioner Co. Ltd. and CFO at Sichuan Zhiyijia Network Technology Co. Ltd. He currently serves as the CFO of the Company and as a Director of Zhongke Meiling Cryogenic Technology Co. Ltd. (14) Yang Liuxu female Han born in January 1985 in Qingyang Gansu with a Bachelor's degree in Accounting from Northeast Agricultural University and a Mid-level Accountant. Ms.Yang has held positions such as Accountant in the Finance Department at Sichuan Huafeng Enterprise Group Co. Ltd. Asset Management Project Manager Financing and Mergers & Acquisitions Manager Restructuring and Reform Manager Supervisor of the Board Office and Securities Affairs Representative at Sichuan Changhong Electric Co. Ltd. She currently serves as the Board Secretary of the Company and a Director of Zhongke Meiling Cryogenic Technology Co. Ltd. 2. Situation where the controlling shareholder and actual controller concurrently serve as the chairman and CEO of the listed company □ Applicable √ Not applicable 3. Employment status at shareholder units √ Applicable □ Not applicable Does the person receive Shareholder Unit Position Held at Name of Personnel Term Start Term End remuneration or Name Shareholder Unit allowance from the shareholder unit 7 0Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Board Secretary 2020.12.16 2026.12.28 Yes Chief Compliance 2022.11.25 2026.12.28 No Officer General Counsel 2022.02.14 - No Sichuan Board Office No Zhao Qilin Changhong 2021.03.29 - Director Electric Co. Ltd.ESG Management No 2023.01.09- Office Director Comprehensive No Management 2024.01.26 - Department Head Hefei Industry Investment Fang Wei Chief Economist 2022.01.11 - Yes Holding (Group) Co. Ltd.Explanation of the position held in the None shareholding unit 4. Employment status at other units √ Applicable □ Not applicable In addition to their positions at the Company and its subsidiaries the current directors and senior executives of the Company hold the following positions in other units: Does the person receive Name of Position Held at remuneratio Other Unit Name Term Start Term End Personnel Other Unit n or allowance from the other unit Member of the Li Sichuan Changhong Electronics Party 2025.12.12 - Yes Xiaodong Holding Group Co. Ltd.Committee Sichuan Aoku Technology Co. Ltd. Director 2025.08.15 - No Tang Youdao Changhong International Holdings Director 2024.03.25 — No (Hong Kong) Co. Ltd.Sichuan Changhong Innovation Director 2021.01.21 - No Investment Co. Ltd.Ganghong Industrial Co. Ltd. Director 2013.06.18 - No Zhao Qilin Safe & Nice Holdings Co. Ltd. Director 2012.01.19 - No Guangzhou Huan.TV Technology Director 2022.05.23 No Co. Ltd. 7 1Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Executive Changhong Jiahua Holdings Limited 2023.03.17 - No Director Sichuan Changhong Minsheng Chairman 2024.05.16 - No Logistics Co. Ltd.Sichuan Changhong Jiahua Director 2025.11.26 - No Information Products Co. Ltd.Financial Sichuan Changhong Electronics Department 2024.01.26 - Yes Holding Group Co. Ltd.Director Yi Suqin Sichuan Changhong Group Finance Director 2024.07.25 - No Co. Ltd.Mianyang Investment Holding Director 2025.09. - No (Group) Co. Ltd.Hefei Venture Capital Guidance Chairman 2024.02.02 - No Fund Co. Ltd.Hefei Science & Technology Rural Director 2022.07.09 - No Commercial Bank Co. Ltd.Hefei Life and Health Industry Chairman 2024.01.10 - No Development Co. Ltd.Fang Wei Magang (Hefei) Steel Co. Ltd. Director 2022.04.15 - No CXMT Corporation Director 2022.09.19 - No Anhui Anli Material Technology Director 2024.02.02 - No Co. Ltd.Heguang Photomask Technology Chairman 2025.11.10 - No (Anhui) Co. Ltd. Associate Business School Sichuan Professor and 1995.02 - Yes University Master's Supervisor Mou Wen Tibet Mineral Development Co. Independent 2021.03.09 2027.06.01 Yes Ltd. Director Chengdu Ruixue Fengtai Precision Independent 2025.01.01 2027.12.31 Yes Electronics Co. Ltd. Director Hong Elo Touch Solutions (Shanghai) Co. APAC Financial 2014.06 - Yes Yuanjia Ltd. Director Professor and Cheng University of Science and Doctoral 2014.06.01 - Yes Wenlong Technology of China Supervisor Huang Sichuan Aoku Technology Co. Ltd. Director 2025.08.15 - No Herong Hefei Xinmei Solar Energy Yang Bing Director 2025.08.18 - No Technology Co. Ltd. 7 2Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Hefei Xingmei Asset Management Director 2025.08.04 - No Co. Ltd.Explanati on of the employme None nt status at other units 5. Penalties imposed by securities regulatory authorities on current and past directors and senior executives in the last three years □ Applicable √ Not applicable (III) Compensation of directors and senior executives 1. Decision-making process basis and actual payment of compensation for directors and senior executives The Company’s board of directors has set up a Compensation and Appraisal Committee which is responsible for formulating the evaluation criteria for directors and senior executives and conducting the evaluations. The committee is also responsible for formulating and reviewing the compensation policies and plans for directors and senior executives and reports to the board of directors. The Compensation and Appraisal Committee proposes the compensation amount and reward methods for directors and senior executives based on their performance evaluations and the Company’s senior executives incentive plans. The Company determines the compensation based on operational performance and other factors. 2. Compensation of directors and senior executives during the reporting period Unit: RMB 10000 Does the person receive Gend Total pre-tax compensation remuneration Name Name Position Status er from the Company from affiliates of the Company Chairman and Li Xiaodong Male 41 Current 0 Yes Party Secretary Director and Tang Youdao Male 55 Current 126.81 No President Zhao Qilin Male 50 Director Current 0 Yes Femal Yi Suqin 47 Director Current 0 Yes e Fang Wei Male 56 Director Current 0 Yes Femal Independent Mou Wen 60 Current 11.90 No e Director 7 3Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Independent Hong Yuanjia Male 51 Current 11.90 No Director Cheng Independent Male 56 Current 11.90 No Wenlong Director Yang Bing Male 51 CFO Current 24.66 No Femal Yang Liuxu 41 Board Secretary Current 5.50 No e Wu Resigned Male 53 Chairman 0 Yes Dinggang Cheng Ping Male 56 Director Resigned 0 Yes Zhong Ming Male 53 Director Resigned 0 Yes Hu Zhaogui Male 51 Vice President Resigned 162.20 No Kou Resigned Male 56 Vice President 83.34 No Huameng Wang Male 45 Vice President Resigned 20.72 No Xiaocheng Vice President Resigned Board Secretary Femal Chief Li Xia 45 66.13 No e Compliance Officer and General Counsel Pang Haitao Male 50 CFO Resigned 44.04 No Total -- -- -- -- 569.10 -- Note: 1. During the reporting period the total pre-tax remuneration received by directors and senior management from the company decreased by approximately 31.88% year-on-year compared with 2024. 2. In the table above the total pre-tax compensation received by Mr. Tang Youdao Mr. Hu Zhaogui Mr. Kou Huameng Ms. Li Xia and Mr. Pang Haitao from the company includes the salary already paid in 2025 as well as deferred 2024 performance incentives and part of the performance annual salary. Mr. Tang Youdao: RMB 622600; Mr. Hu Zhaogui: RMB 636500; Mr. Kou Huameng: RMB 358700; Ms. Li Xia: RMB 222700； and Mr. Pang Haitao: RMB 272400. 3.Mr. Yang Bing has served as CFO since June 18 2025. 4. Ms. Yang Liuxu has served as the Board Secretary since October 22 2025. 5. Mr. Pang Haitao served as CFO from January 1 2025 to June 17 2025. 6. Mr. Wang Xiaocheng has served as the Vice President of our company since May 28 2025. Evaluation basis for actual compensation received by all The compensation for directors and senior executives is subject 7 4Changhong Meiling Co. Ltd. 2025 Annual Report Full Text directors and senior executives at the end of the reporting to the Company’s specific regulations compensation system period and performance appraisal system as outlined in the Compensation Management Measures and other relevant company policies.Independent directors and non-independent directors not Completion of performance evaluation for actual compensation serving as senior executives are not involved in performance received by all directors and senior executives at the end of the evaluation. Senior executives however are evaluated based on reporting period the Company’s performance appraisal regulations and have completed the evaluations.The performance-based annual salary for non-independent directors and senior executives is determined based on their performance evaluation results and paid accordingly. The total Deferred payment arrangement for actual compensation pre-tax compensation for directors and senior executives during received by all directors and senior executives at the end of the the reporting period includes 2024 performance-based reporting period incentives and part of the deferred performance annual salary: Mr. Tang Youdao: RMB 622600; Mr. Hu Zhaogui: RMB 636500; Mr. Kou Huameng: RMB 358700; Ms. Li Xia: RMB 222700；and Mr. Pang Haitao: RMB 272400 Suspension or recovery of actual compensation received by all directors and senior executives at the end of the reporting None period Explanation of other information □ Applicable √ Not applicable V. The Performance of Directors' Duties During the Reporting Period (I) Attendance of directors at Board and shareholders’ meetings Attendance of Directors at Board and Shareholders' Meetings Has the Number of Number of director Board Number of Board Number of Number of Number of failed to Meetings Board Meetings Board Shareholde Director Absences attend two to Attend Meetings Attended Meetings rs' Name from Board consecutiv During the Attended in by Attended Meetings Meetings e board Reporting Person Communic by Proxy Attended meetings in Period ation person Wu 0 15 2 13 0 No 4 Dinggang Tang 1 0 0 0 1 No 4 Youdao Zhao Qilin 15 2 13 0 0 No 2 Cheng Ping 15 2 13 0 0 No 0 Yi Suqin 15 2 13 0 0 No 3 Fang Wei 15 2 13 0 0 No 1 Mou Wen 15 2 13 0 0 No 3 Hong 15 2 0 0 13 No 1 Yuanjia Cheng 15 2 0 0 13 No 4 Wenlong Zhong 13 2 0 0 11 No 2 Ming Explanation for Not Attending Two Consecutive Board Meetings in Person 7 5Changhong Meiling Co. Ltd. 2025 Annual Report Full Text During the reporting period no director of the Company failed to attend two consecutive board meetings in person.(II) Objections raised by directors on the Company’s matters Did directors raise objections to the Company’s relevant matters □ Yes √ No During the reporting period no objections were raised by the directors regarding the Company’s matters.(III) Other explanations regarding the performance of directors' duties Were directors' suggestions accepted by the Company √ Yes □ No During the reporting period the Company’s directors strictly followed the requirements of relevant laws and regulations such as the Company Law Securities Law the Listing Rules of Stocks on the Shenzhen Stock Exchange and the Self-Regulation Guidelines of the Shenzhen Stock Exchange for Listed Companies No. 1 – Standard Operations for Companies Listed on the Main Board actively attended board meetings and participated in shareholders’ meetings. They diligently and conscientiously fulfilled their duties made prudent and scientific decisions on various matters discussed by the board of directors and proposed relevant opinions and suggestions. All the opinions and suggestions raised by the directors on the Company’s major decisions have been adopted.VI. Activities of the Board’s Special Committees During the Reporting Period Number Specifics of Committee Meeting Key opinions and Other duties Members of Meeting content dissent (if name date recommendations performed meetings any) Reviewed 1 proposal Proposal Approved the proposal on the Investment in and recommended its March 17 Establishing a Subsidiary and submission to the N/A None 2025 Participating in the Bidding for Board of Directors for Wu Land Use Rights. deliberation.Dinggang Zhao Qilin Approved the proposal Cheng Ping Reviewed 1 proposal Proposal and recommended its Strategy March 21 Yi Suqin 5 on the Company’s 2025 submission to the N/A None Committee 2025 Zhong Ming Development Plan. Board of Directors for Fang Wei deliberation.Cheng Wenlong Reviewed 1 proposal Proposal Approved the proposal on the Investment in the and recommended its April 18 Construction of the Mianyang submission to the N/A None 2025 Meiling Smart Home Board of Directors for Appliances Industrial Base. deliberation. 7 6Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Reviewed 1 proposal Proposal Approved the proposal on the Investment by Subsidiary and recommended its May 21 Zhongshan Changhong Electric submission to the N/A None 2025 Co. Ltd. in the Single-Shift Board of Directors for Annual Production of 4 Million deliberation.Air Conditioners Project.Reviewed 1 proposal Proposal Approved the proposal on the Announcement of and recommended its June 16 Subsidiary’s Investment in the submission to the N/A None 2025 Construction of the Smart Home Board of Directors for Appliances Industrial Park deliberation.Project.Reviewed 2 proposals Company’s 2024 Financial January Statements and Internal Control Approved all N/A None 10 2025 Audit Schedule and Unaudited proposals. Financial Statements of the Company for 2024.Reviewed 1 proposal Draft March 11 Approved the Audit of the Company’s 2024 N/A None 2025 proposal. Financial Statements.Approved all proposals and recommended that seven proposals— Audited Financial Reviewed 8 proposals Audited Statements of the Financial Statements of the Company for 2024 Mou Wen Company for 2024 2024 2024 Internal Control Wu Internal Control Audit Report Audit Report Audit Dinggang Summary Report on Pan-China Committee’s Assessment of the Audit Zhao Qilin Certified Public Accountants’ 7 2024 Audit Work Audit Accounting Firm’s Committee Hong Yuanjia Committee’s Assessment of the 2024 Performance and Oversight Duties Cheng Accounting Firm’s 2024 Wenlong Performance and Oversight Proposal on the Duties Proposal on the Reappointment of March 31 Reappointment of Audit Audit Institutions for N/A None 2025 Institutions for 2025 Financial 2025 Financial Statements and Internal Statements and Control Proposal on Internal Control Conducting Forward Foreign Proposal on Exchange Transactions Conducting Forward Proposal on Changes in 2024 Foreign Exchange Accounting Policies and Transactions Proposal on Retrospective Proposal on Changes Adjustment of Financial Data in in 2024 Accounting a Business Combination under Policies and Proposal Common Control. on Retrospective Adjustment of Financial Data in a Business Combination under Common Control—be submitted to the Board 7 7Changhong Meiling Co. Ltd. 2025 Annual Report Full Text of Directors for deliberation.Reviewed 2 proposals Approved all Company’s Q1 2025 Financial proposals and Statements and Proposal on April 18 recommended their Retrospective Adjustment of N/A None 2025 submission to the Financial Data in a Business Board of Directors for Combination under Common deliberation.Control.Approved the proposal Reviewed 1 proposal Proposal and recommended its June 16 on the Appointment of the submission to the N/A None 2025 Company’s CFO. Board of Directors for deliberation.Reviewed 2 proposals Approved all Company’s 2025 Interim proposals and Financial Report and Proposal August 7 recommended their on Retrospective Adjustment of N/A None 2025 submission to the Financial Data in a Business Board of Directors for Combination under Common deliberation.Control.Reviewed 2 proposals Approved all Company’s Q3 2025 Financial proposals and Statements and Proposal on October recommended their Retrospective Adjustment of N/A None 20 2025 submission to the Financial Data in a Business Board of Directors for Combination under Common deliberation.Control.Hong Reviewed 1 proposal 2024 Approved the proposal Yuanjia Wu Compensation Remuneration Assessment and and recommended its Dinggang March 21 and Appraisal 1 Payment of the Company’s submission to the N/A None Mou Wen 2025 Committee Directors and Senior Board of Directors for Cheng Executives. deliberation.Wenlong Cheng Reviewed 1 proposal Proposal Approved the proposal Wenlong Wu on the Qualification Assessment and recommended its Nomination Dinggang May 6 5 for the Proposed Appointment submission to the N/A None Committee Zhong Ming 2025 of the Company’s Vice Board of Directors for Mou Wen President. deliberation.Hong Yuanjia 7 8Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Approved the proposal Reviewed 1 proposal Proposal and recommended its June 16 on the Qualification Assessment submission to the N/A None 2025 for the Proposed Appointment Board of Directors for of the Company’s CFO.deliberation.Approved the proposal Reviewed 1 proposal Proposal and recommended its September on the Qualification Assessment submission to the N/A None 9 2025 for the Proposed Appointment Board of Directors for of the Company’s President.deliberation.Reviewed 1 proposal Proposal Approved the proposal on the Qualification Assessment and recommended its October for the Proposed Appointment submission to the N/A None 202025 of the Company’s Board Board of Directors for Secretary. deliberation.Reviewed 1 proposal Proposal Approved the proposal on the Qualification Assessment and recommended its November of Non-Independent Director submission to the N/A None 242025 Candidates for the Eleventh Board of Directors for Board of Directors. deliberation.Wu Dinggang Reviewed 1 proposal Approved the proposal ESG Zhao Qilin Company’s 2024 and recommended its March 21 Management Cheng Ping 1 Environmental Social and submission to the N/A None 2025 Committee Yi Suqin Corporate Governance (ESG) Board of Directors for Zhong Ming Report. deliberation.Mou Wen Reviewed 2 proposals 2024 Approved all Profit Distribution Plan of the proposals andMarch 21 Company and “Ongoing Risk recommended theirN/A None 2025 Assessment Report on Sichuan submission to the Changhong Group Finance Co. Board of Directors for Ltd. deliberation.Reviewed 2 proposals Proposal on Subsidiary Zhongshan Changhong Electric Co. Ltd.Mou Wen Entering into an with Guangdong recommended their Special N/A None Cheng 2025 Changhong Electronics Co. submission to the Meeting Wenlong Ltd. and Related Party Board of Directors for Transactions and Proposal on deliberation.Increasing the Estimated 2025 Daily Related Party Transaction Limit.Approved the proposal Reviewed 1 proposal Ongoing and recommended its August Risk Assessment Report on submission to the N/A None 18 2025 Sichuan Changhong Group Board of Directors for Finance Co. Ltd.deliberation. 7 9Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Reviewed 1 proposal Related Approved the proposal Party Transactions and and recommended its November Proposal on Increasing the submission to the N/A None 32025 Estimated 2025 Daily Related Board of Directors for Party Transaction Limit. deliberation.Reviewed 3 proposals Proposal on Estimated 2026 Daily Related Party Transactions Proposal on Ongoing Related Approved all Party Transactions between the proposals and November Company and Its Subsidiaries recommended their N/A None 24 2025 and Sichuan Changhong Group submission to the Finance Co. Ltd. in 2026 and Board of Directors for Proposal on the Ongoing Risk deliberation.Assessment Report on Sichuan Changhong Group Finance Co.Ltd.Reviewed 1 proposal Proposal on Extending the Operating Approved the proposal Term of Sichuan Hongyun New and recommended its December Generation Information submission to the N/A None 19 2025 Technology Venture Capital Board of Directors for Fund Partnership Enterprise deliberation.(Limited Partnership) and Related Party Transactions.VII. Work of the Audit Committee During the reporting period the Audit Committee examined whether the Company faced any risks □ Yes √ No The Audit Committee has no objections regarding the supervisory matters during the reporting period.VIII. Company Employees (I) Number of employees professional composition and education level Number of employees on the parent company’s 3775 payroll at the end of the reporting period (persons) Number of employees on the major subsidiaries’ 10253 payroll at the end of the reporting period (persons) Total number of employees on the payroll at the end 14028 of the reporting period (persons) Total number of employees receiving compensation 14028 during the period (persons) Number of retired employees for whom the parent company and major subsidiaries bear expenses 46 (persons) Professional composition 8 0Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Category of profession Number of employees (persons) Production personnel 7094 Sales personnel 4031 Technical personnel 1985 Finance personnel 322 Administrative personnel 596 Total 14028 Education level Education level category Number of employees (persons) High school and below 8032 Junior college 2229 Undergraduate 3460 Master’s degree and above 307 Total 14028 (II) Compensation policy The Company strictly complies with relevant national laws and regulations and in line with its strategic development needs continuously builds a compensation management system that ensures internal equity and external competitiveness providing strong support for the Company’s sustainable development. 1. Establishing a scientific compensation system to strengthen value orientation The Company has established a comprehensive compensation management system and performance management framework clearly defining directions for employee performance improvement. This effectively guides employees to proactively identify gaps address weaknesses and continuously enhance their professional skills and work efficiency. Regarding job value assessment the Company has developed evaluation models covering key positions scientifically measuring them across dimensions such as job responsibilities required competencies and level of contribution. Based on these assessments fair and reasonable compensation standards are determined. At the same time a salary adjustment mechanism aligned with employee growth levelshas been established reinforcing the compensation management philosophy of “value-based onposition and performance-oriented” ensuring the internal fairness and external competitiveness of the compensation system. 2. Implementing differentiated incentives to stimulate organizational vitality To promote the achievement of performance targets across business units the Company designs differentiated reward programs tailored to the characteristics of each business balancing systemic fairness while ensuring the effectiveness of positive guidance thereby effectively stimulating operational vitality. At the same time a diversified incentive system has been established focusing on four core dimensions: growth incentives welfare incentives recognition 8 1Changhong Meiling Co. Ltd. 2025 Annual Report Full Text incentives and emotional incentives comprehensively enhancing employee motivation and sense of belonging. 3. Opening career development pathways to promote talent growth During the reporting period the Company further optimized its position promotion and evaluation mechanisms refining the position system and hierarchical promotion channels. Through mechanisms such as point-based evaluations and competency growth frameworks aligned with dynamic salary adjustments team vitality is effectively stimulated. The Company continues to advance full-process performance management enhancing digital tools for performance communication and feedback and implements performance assessments communication and feedback at different cycles according to business characteristics. Performance evaluation methods are continuously optimized enforcing rigid performance standards and “survival of the fittest” management models and strengthening the application of performance results in areas such as position promotion and demotion talent selection talent mobility salary adjustment and annual awards. These measures promote an optimized talent structure and facilitate the joint development of employees and the Company.(III) Training plan Aiming to build a learning-oriented organization the Company has systematically developed a talent development system that covers all employees and spans the entire employment lifecycle.Based on the annual talent development and training framework the Company has further refined the standards and competency models for each talent stream launched the Meiling Learning Map and continuously extracted and consolidated internal experience and professional capabilities promoting close integration of training with employee growth and career development. 1. Strengthening the construction of the talent succession pipeline to consolidate the foundation for sustainable development The Company has established a clear talent standard evaluation model and completed the development of talent standards for management positions supervisory positions and professional positions across all streams. A talent succession map has been created for key positions systematically reviewing the current capabilities of existing talent and clarifying futuresuccession paths. Special attention has been given to optimizing the structure of the “YongquanProgram” talent reserve pipeline. Through the selection of young reserve cadres and regular review and assessment of the talent pool the Company dynamically adjusts the reserve database for mid-to-senior management the A-level successor pool the A-level growth pool the B-level supervisory pool and the pool of outstanding university graduates forming a well-structured and adequately stocked talent pipeline. Simultaneously a readiness assessment model for the talent succession pipeline has been developed comprehensively evaluating candidates across multiple dimensions including values performance career experience competency for target positions 8 2Changhong Meiling Co. Ltd. 2025 Annual Report Full Text and leadership. This allows precise measurement of talent readiness and the targeted assignment of development plans aligned with their career paths. 2. Implementing targeted development programs to enhance training effectiveness Closely aligned with business development needs the Company has built a multi-level multi-category talent development system. Training engagement and professional horizons are stimulated through project-based exercises industry exchanges and similar activities. To address common team deficiencies and individual skill gaps targeted development programs are formulated using methods such as external course enrollment internal course development corporate visits and internalization of expert experience. For critical positions a promotion- oriented learning map has been established to clarify growth pathways and professional development trajectories.A training organizational support system has been established forming a classified and hierarchical talent training framework. Mechanisms such as career planning analysis targeted course recommendations milestone monitoring project reviews and effectiveness evaluations effectively guide employees in both vertical promotions and horizontal rotations (e.g. multi- skilled development) resulting in comprehensive employee development. Training outcomes and the number of promoted talents have steadily increased. 3. Enriching knowledge asset management to promote experience transfer and professional development The Company continuously optimizes its knowledge asset management system redefining knowledge asset standards and organizational support frameworks. Efforts are made to enrich and update the educational materials within knowledge asset libraries such as the Meiling Technical Academy Management Academy Manufacturing Academy Quality Academy Safety andEnvironmental Academy and Party Building Academy. Building on the “Internal TrainerCertification System” and the “Benchmark Position Knowledge Extraction Project” professional live-stream courses are optimized and internalized to form a standardized talent knowledge repository facilitating the transfer and sharing of experience. In parallel the Company plans and implements the Learning Map Project systematically designing sequences for areas such as process structure and finance closely linking job qualifications with learning pathways. This creates an integrated connection between talent development and learning growth promoting the scientific systematic and efficient cultivation of professionals across all sequences. Focusing on key position sequences a phased micro-course resource library for learning maps is developed to support the deepening professionalization of the talent pipeline. 4. Labor outsourcing □ Applicable √ Not applicable 8 3Changhong Meiling Co. Ltd. 2025 Annual Report Full Text IX. Company Profit Distribution and Capital Reserve-to-Share Capital Conversion (I) Profit distribution policy during the reporting period particularly the formulation implementation or adjustment of cash dividend policy √ Applicable □ Not applicable During the reporting period the Company strictly implemented its profit distribution policy in accordance with the Articles of Association and the Return Plan for Shareholders for the Next Three Years (2024 -2026). The formulation and execution of the Company’s cash dividend policy complied with the provisions of the Articles of Association the Three-Year Shareholder Return Plan (2024–2026) and the resolutions of the Board of Shareholders. Dividend standards and ratios were clearly defined relevant decision-making procedures and mechanisms were well- established and the responsibilities of independent directors were clearly defined and effectively fulfilled. Minority shareholders had sufficient opportunities to express opinions and make requests ensuring that their legitimate rights and interests were protected.During the reporting period the Company implemented the 2024 annual profit distribution plan. Based on the total share capital of 1029923715 shares as of the record date for the 2024 equity distribution plan (comprising 881733881 A shares and 148189834 B shares) a cash dividend of RMB 3.30 per 10 shares (inclusive of tax) was distributed to all shareholders totaling RMB 339874825.95. The dividend accounted for 48.60% of the net profit attributable to shareholders of the listed company in 2024.Special statement on the cash dividend policy Compliance with the Articles of Association or the Yes resolutions of the Board of Shareholders: Clarity and definiteness of dividend standards and Yes ratios: Completeness of relevant decision-making procedures Yes and mechanisms: Whether independent directors performed their duties Yes and played an effective role: If the Company did not distribute cash dividends specific reasons and planned measures to enhance N/A investor returns: Whether minority shareholders had sufficient opportunities to express opinions and make requests Yes and whether their legitimate rights and interests were fully protected: If the cash dividend policy was adjusted or changed whether the conditions and procedures were compliant N/A and transparent: (II) Whether the company was profitable during the reporting period with positive distributable profit of the parent company but did not propose a cash dividend plan 8 4Changhong Meiling Co. Ltd. 2025 Annual Report Full Text □ Applicable √ Not applicable (III) Profit distribution and capital reserve-to-share capital conversion during the reporting period √ Applicable □ Not applicable Number of bonus shares per 10 shares (shares) 0 Cash dividend per 10 shares (RMB inclusive of tax) RMB 2.10 Number of shares converted from capital reserve per 0 10 shares (shares) Share capital base for the distribution plan (shares) 1008722145 Cash dividend amount (RMB inclusive of tax) 211831650.45 Cash dividend amount by other means (e.g. share 86952028.10 repurchase) (RMB) Total cash dividend (including other means) (RMB) 298783678.55 Distributable profit (RMB) 1314046007.41 Proportion of total cash dividend (including other 100% means) to total profit distribution Cash dividend for this distribution The Company based the distribution on the total share capital of 1029923715 shares excluding shares held in the special securities account for repurchase. A cash dividend of RMB 2.10 per 10 shares (inclusive of tax) was distributed to all shareholders. No bonus shares were issued and no shares were converted from the capital reserve.Detailed explanation of the profit distribution or capital reserve-to-share capital conversion plan Audited by Pan-China Certified Public Accountants LLP: For the year 2025 the net profit realized in the parent company’s separate financial statements amounted to RMB 489089804.39. As of December 31 2025 the accumulated undistributed profits in the parent company’s separate financial statements amounted to RMB 1314046007.41. Additionally in 2025 the Company’s consolidated financial statements recorded net profit attributable to owners of the parent company of RMB 410409936.09. After appropriating RMB 48908980.44 to the surplus reserve in accordance with the relevant provisions of the Company Law and the Articles of Association the cumulative undistributed profit on a consolidated basis as of December 31 2025 amounted to RMB 1824833314.77. In accordance with relevant regulations the Company’s profit distribution shall be based on the distributable profits of the parent company and comply with the principle of distribution based on the lower of the accumulated undistributed profits in the consolidated financial statements and the parent company’s financial statements. Therefore the distributable profits for 2025 were the accumulated undistributed profits of RMB 1314046007.41 in the parent company’s separate financial statements. In accordance with relevant laws and regulations and 8 5Changhong Meiling Co. Ltd. 2025 Annual Report Full Text the Articles of Association taking into account the interests of shareholders and the Company’s long-term development needs it is proposed that: The Company based the distribution on the total share capital of 1029923715 shares excluding shares held in the special securities account for repurchase. A cash dividend of RMB 2.10 per 10 shares (inclusive of tax) was distributed to all shareholders. No bonus shares were issued and no shares were converted from the capital reserve. The total cash dividend is expected not to exceed RMB 211831650.45 (inclusive of tax based on the estimated number of shares repurchased as of March 31 2026). After this distribution the remaining undistributed profits of the parent company will be carried forward for distribution in subsequent years.If the total share capital of the company changes or the number of shares in the repurchase special securities account changes between the announcement of the company's profit distribution plan and the record date for the implementation of the equity distribution the total distribution amount shall be adjusted accordingly according to the principle of 'unchanged per-share distribution ratio'.X. Implementation of the Company’s Equity Incentive Plans Employee Stock Ownership Plans or Other Employee Incentive Measures □ Applicable √ Not applicable During the reporting period the Company had no equity incentive plans employee stock ownership plans or other employee incentive measures nor any implementation thereof.XI. Construction and Implementation of Internal Control Systems during the Reporting Period (I) Construction and implementation of internal control In accordance with the Basic Standards for Enterprise Internal Control and its supporting guidelines as well as relevant regulations such as the CSRC and Ministry of Finance jointly issued Rules for the Compilation and Disclosure of Information by Companies Publicly Issuing Securities No. 21—General Provisions on Annual Internal Control Evaluation Reports and based on the Company’s internal control system and internal control evaluation methods the Company has organized and carried out internal control work effectively implementing internal controls.The Company continuously improves and optimizes its internal control system to adapt to the evolving requirements and changes of internal and external environments.The Company’s 2025 Annual Internal Control Self-Evaluation Report fully truthfully and accurately reflects the actual status of the Company’s internal controls. The units business activities and matters included within the scope of the evaluation as well as high-risk areas cover the main aspects of the Company’s operations and management. The Company has 8 6Changhong Meiling Co. Ltd. 2025 Annual Report Full Text maintained effective internal controls in high-risk areas and across all material aspects. During the reporting period no material or significant deficiencies in internal control were identified.(II) Specific instances of material deficiencies in internal control identified during the reporting period □ Yes √ No XII. Management and Control of Subsidiaries during the Reporting Period Issues Name of Integration encountered Resolution Follow-up Integration plan Measures taken Company progress during progress resolution plan integration None - - - - - - Abnormalities in the management and control of subsidiaries □ Yes √ No XIII. Internal Control Evaluation Report or Internal Control Audit Report (I) Internal control evaluation report Full disclosure date of internal April 3 2026 control evaluation report Index for full disclosure of Juchao Website (www.cninfo.com.cn) internal control evaluation report Proportion of total assets of units included in the evaluation to total assets in the 99.86% Company’s consolidated financial statements Proportion of operating revenue of units included in the evaluation to total operating 100.00% revenue in the Company’s consolidated financial statements Deficiency recognition standards 8 7Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Category Financial reporting Non-financial reporting * Material deficiency: A single deficiency or a combination of deficiencies that prevents timely prevention detection or correction of material misstatements in financial reports. The following situations are recognized as material deficiencies: i. Fraud by directors or senior executives; ii. Material misstatements in the current period’s financial reports identified by external audit which The following situations are the Company failed to detect during operations; recognized as material iii. Material deficiencies previously identified and deficiencies; other situations are reported to management that were not corrected determined as significant or within a reasonable time; general deficiencies according to iv. Ineffective supervision of internal control by the their impact: Company’s Audit Committee and Audit Department; * Violations of national laws v. Other material deficiencies that may affect users’ regulations or normative correct judgment of the financial statements.documents; * Significant deficiency: A single deficiency or a * Lack of lawful decision-making combination of deficiencies that prevents timely procedures for material matters; prevention detection or correction of misstatements Qualitative * Absence or non-compliance of in financial reports which although not reaching or standards decision-making procedures exceeding the materiality threshold still requires resulting in significant errors; management attention. The following situations are * Important business lacking recognized as significant deficiencies: system controls or systemic failure i. Failure to select or apply accounting policies in of control systems; accordance with generally accepted accounting * Administrative penalties such principles; as suspension temporary ii. Failure to establish anti-fraud procedures and revocation or revocation of control measures; licenses or permits; iii. Lack of corresponding control mechanisms or * Material or significant failure to implement them for accounting treatment deficiencies that cannot be of non-routine or special transactions; rectified.iv. One or more deficiencies in the control of the period-end financial reporting process which do not reasonably ensure that the financial statements are true and complete; v. Other cases determined according to their impact.* General deficiency: Other internal control deficiencies that do not constitute material or significant deficiencies. 1. Proportion of potential misstatement to total 1. Proportion of direct property operating revenue: Material deficiency: misstatement loss to total operating revenue: ≧ 0.5%; Significant deficiency: 0.1% ≦ Material deficiency: loss ratio ≥ misstatement ﹤ 0.5%; General deficiency: 0.1%; Significant deficiency: misstatement ﹤ 0.1%. 0.05% ≦ misstatement ﹤ 0.1%; 2. Proportion of potential misstatement to total profit: General deficiency: misstatement Material deficiency: misstatement ≧ 10%; ﹤ 0.05%.Significant deficiency: 5% ≦ misstatement ﹤ 10%; 2. Proportion of direct property Quantitative General deficiency: misstatement ﹤ 5%. loss to total profit: Material standards 3. Proportion of potential misstatement to total deficiency: loss ratio ≧ 10%; assets: Material deficiency: misstatement ≧ 0.5%; Significant deficiency: 5% ≦ Significant deficiency: 0.1% ≦ misstatement ﹤ misstatement ﹤ 10%; General 0.5%; General deficiency: misstatement ﹤ 0.1%. deficiency: misstatement ﹤ 5%. 4. Proportion of potential misstatement to total 3. Proportion of direct property shareholders’ equity: Material deficiency: loss to total assets: Material misstatement ≧ 0.5%; Significant deficiency: 0.1% deficiency: loss ratio ≧ 0.2%; ≦ misstatement ﹤ 0.5%; General deficiency: Significant deficiency: 0.1% ≦ 8 8Changhong Meiling Co. Ltd. 2025 Annual Report Full Text misstatement ﹤ 0.1%. misstatement ﹤ 0.2%; General deficiency: misstatement ﹤ 0.1%. 4. Proportion of direct property loss to total shareholders’ equity: Material deficiency: loss ratio ≧ 0.2%; Significant deficiency: 0.1% ≦ misstatement ﹤ 0.2%; General deficiency: misstatement ﹤ 0.1%.Number of material deficiencies in 0 financial reporting (case) Number of material deficiencies in 0 non-financial reporting (case) Number of significant deficiencies in 0 financial reporting (case) Number of significant deficiencies in 0 non-financial reporting (case) (II) Internal control audit report √ Applicable □ Not applicable Opinion section of the internal control audit report We are of the opinion that as of December 31 2025 Changhong Meiling maintained effective internal control over financial reporting in all material respects in accordance with the Basic Standards for Enterprise Internal Control and relevant regulations.Disclosure status of the internal control audit report Disclosed Full disclosure date of the internal control audit report April 3 2026 Index for full disclosure of the internal control audit Juchao Website (www.cninfo.com.cn) report Type of opinion in the internal control audit report Standard unqualified opinion Existence of material deficiencies in non-financial No reporting Whether the accounting firm issued a non-standard opinion on the internal control audit report □ Yes √ No Consistency between the accounting firm’s internal control audit report and the board’s self- evaluation report 8 9Changhong Meiling Co. Ltd. 2025 Annual Report Full Text √ Yes □ No Whether a non-standard internal control audit opinion was issued in the reporting period or the previous year □ Yes √ No XIV. Rectification Status of Issues Identified in the Special Self-Inspection on Listed Company Governance √ Yes □ No For details please refer to Item 15 of Chapter 4 Rectification of Issues Identified in the Special Self-Inspection on Listed Company Governance in the Company’s 2022 Annual Report.As of now the following issues identified during the Company’s self-inspection and review process have not yet been fully rectified: (I) Subsidiaries’ holdings of the Company’s shares and rectification status 1. The Company’s wholly-owned subsidiary Meiling Group holds 1141053 restricted shares of the Company. These restricted shares held by Meiling Group represent the equity consideration it advanced on behalf of other non-tradable shareholders under the Company’s Share Reform Plan. In March 2016 pursuant to the approval of the SASAC 49477513 state- owned shares of the Company originally held by the former shareholder Hefei Xingtai Holding Group Co. Ltd. (including 47823401 shares already held and 1654112 shares advanced on behalf of other non-tradable shareholders under the Share Reform Plan along with related rights to the equity consideration) were transferred free of charge to Industry Investment Group.Therefore the restricted shares of the Company held by Meiling Group should be transferred to Industry Investment Group free of charge. 2. According to the approval of the SASAC and relevant regulations Meiling Group is required after recovering all 1654112 shares of equity consideration advanced on behalf of other shareholders to transfer the advanced shares and related rights it holds to Industry Investment Group free of charge in a single transaction. Currently Meiling Group has only recovered 1141053 shares while the holders of the remaining equity consideration shares have been repeatedly and unsuccessfully unreachable over the years making the timeline for full recovery of the advanced shares highly uncertain. Nevertheless the Company will continue to actively promote the recovery of the advanced shares by Meiling Group and upon full recovery of all equity consideration shares will promptly complete the relevant free transfer procedures. Until then the restricted shares of the Company held by Meiling Group will not confer any shareholder rights during the holding period including voting rights dividend rights or other entitlements.XV. Environmental Information Disclosure 9 0Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Whether the listed company and its major subsidiaries are included in the list of enterprises legally required to disclose environmental information √ Yes □ No Number of enterprises included in the list of enterprises legally required to disclose environmental information Query index for legally disclosed No. Enterprise name environmental information report https://39.145.37.16:8081/zhhb/yfp 1 Changhong Meiling Co. Ltd. lpub_html/#/home XVI. Social Responsibility For detailed information in this section please refer to the 2025 Environmental Social and Corporate Governance (ESG) Report of Changhong Meiling Co. Ltd. disclosed by the Company on the same day on the Juchao website.XVII. Efforts to Consolidate and Expand Poverty Alleviation Achievements and Promote Rural Revitalization The Company has consistently and resolutely implemented the decisions and deployments of the CPC Central Committee and the State Council regarding rural revitalization actively responding to national calls and contributing corporate strength to rural development. During the reporting period the Company’s initiatives to support farmers extended to eight provinces and municipalities in China focusing on local specialty agriculture and the real needs of farmers.These efforts assisted over 1000 farmers in addressing the challenges of unsold local fruits and vegetables bringing fresh and sweet produce from remote areas to consumers’ tables. The Company’s farmer-support initiatives not only continuously enhance brand value and fulfill corporate social responsibility but also serve as an important emotional bridge connecting the brand with its users strengthening public recognition and trust in Changhong Meiling. At the same time these initiatives help local specialty products reach a national market showcasing the diversity and cultural charm of China’s rural areas and reinforcing cultural confidence. Looking ahead the Company will continue to expand the scope of its farmer-support initiatives to help more farmers overcome the challenges of unsold agricultural products. 9 1Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Section V Important Events I. Fulfillment of Commitment Matters (I) Commitment matters fulfilled during the reporting period and those not yet fulfilled as of the end of the reporting period by the Company’s actual controller shareholders related parties acquirers and other relevant parties √ Applicable □ Not applicable Reason for Committing Commitment Commitme Fulfillment commitme Type/content of commitment party date nt term status nt 1. The acquirer shall not engage in any refrigerator or Strictly other business or activity that competes with or conflicts Long-term fulfilled with the current or future business of Meiling Electric. 2. The acquirer guarantees to exercise shareholder rights Commitment and Sichuan legally and reasonably and shall not take any actions Strictly Commitm guarantee in the Long-term Changhong that restrict or affect the normal operations of Meiling fulfilled ents made Acquisition Electric Co. Electric.in the Report of Hefei Ltd.acquisition Meiling Co. Ltd.(hereinafter 3. If the acquirer has an opportunity to engage in a June 12 2007 report or regarding the referred to as competing business it shall first consult Meiling equity avoidance of“Sichuan Electric in writing on whether it intends to engage inchange competitionChanghong” such business. If Meiling Electric does not provide a report within the same ) written response within twenty days from the receipt of Strictly industry Long-term the inquiry it shall be deemed not to engage in the fulfilled competing business. The acquirer may only engage in non-competing business after Meiling Electric has confirmed or is deemed not to engage in the competing business. 1. Except when acting to assist Meiling Electric in its interest as requested the Company shall no longer proactively engage in any business or activity that competes with or conflicts with Meiling Electric’s business. 2. The Company guarantees to exercise shareholder Commitm Commitment to rights legally and reasonably and shall not take any ents made reduce and avoid actions that restrict or affect the normal operations of Strictly during the Sichuan June 24 2010 Long-term competition with Meiling Electric. fulfilled 2010 non- Changhong Meiling Electric public 3. If Meiling Electric expands its business scope based issuance on its existing operations and the Company is already operating in such business as long as the Company remains the controlling shareholder or actual controller of Meiling Electric the Company agrees that Meiling Electric shall have a right of first refusal to acquire the relevant business under equal conditions.Commitment 1. Measures shall be taken to minimize continuous June 24 2010 Long-term Strictly 9 2Changhong Meiling Co. Ltd. 2025 Annual Report Full Text regarding the related party transactions with Meiling Electric; for fulfilled reduction and unavoidable related party transactions contracts shall be regulation of executed with Meiling Electric in accordance with therelated party market-oriented principle of “equivalent compensationtransactions with and mutual benefit” with transaction prices determined Meiling Electric fairly by reference to prevailing market standards and in compliance with the law. 2. Necessary obligations such as the recusal of related directors and related shareholders from voting shall be performed in accordance with relevant regulations and statutory procedures for approving related party transactions and disclosure obligations shall be strictly observed. 3. It is guaranteed that no related party transactions shall be used to harm the legitimate rights and interests of Meiling Electric or its other shareholders.Commitment regarding the authorization for Changhong Air Conditioner November 6 Strictly and Zhongshan Changhong to use the “Changhong” trademark and related Long-term 2010 fulfilled patents free of charge on a long-term basis. 1. The Company commits to truthfully accurately completely fairly and timely disclose periodic reports and all information that may have a material impact on investors and to accept the supervision and administration of the China Securities Regulatory Commission and the Shenzhen Stock Exchange. 2. The Company commits that upon becoming aware of any information in public media that may mislead stock prices it will promptly make a public The clarification. Strictly January 7 2011 Long-term Company fulfilled 3. The Company’s directors senior executives and key technical personnel shall seriously consider public opinions and criticisms and shall not directly or indirectly engage in trading of the Company’s shares using insider information or other improper means. The Company guarantees that the documents submitted to the Shenzhen Stock Exchange contain no false statements or material omissions and that during the listing application process no relevant information shall be disclosed without the prior consent of the Shenzhen Stock Exchange. 1. Considering that the scope of assets in this transfer does not include the properties and land currently used by Changhong Air Conditioner Sichuan Strictly Changhong undertakes that after the completion of this equity transfer it Long-term fulfilled will continue to lease these assets to Changhong Air Conditioner at market rates.Commitm ent 2. After the completion of this asset transfer Sichuan Changhong regarding undertakes to make every effort to avoid creating new related party the Sichuan December 10 transactions with Meiling Electric. For unavoidable related party transfer of Changhong 2009 transactions Sichuan Changhong commits to determining transaction air prices based on market principles ensuring that the transactions are fair and conditioni Strictly equitable and do not harm the interests of Meiling Electric. Long-term ng assets fulfilled 3. Sichuan Changhong undertakes that after the completion of this asset transfer it will not engage in any air conditioning refrigerator or other business or activity that competes with or conflicts with the current or future business of Meiling Electric. 9 3Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Sichuan 1. Based on market conditions and within the scope permitted by laws and Commitm Changhong regulations timely take various measures to increase holdings of Meiling ent Electric Co. Electric shares when appropriate demonstrating through concrete actions regarding Ltd. and its their firm confidence in the Chinese economy and in Meiling Electric non- party acting jointly maintaining the healthy development of the capital market and Strictly July 9 2015 Long-term reduction in concert promoting a stable and sound market environment. fulfilled of CHANGHO shareholdi NG (HK) 2. Continue as always to support the Company’s operational development ng TRADING and enhance Meiling Electric’s performance in order to provide investors LIMITED with stable and genuine returns. 1. The Company commits to truthfully accurately completely fairly and timely disclose periodic reports and all information that may have a material impact on investors and to accept the supervision and administration of the China Securities Regulatory Commission and the Commitm Shenzhen Stock Exchange.ents made during the The 2. The Company commits that upon becoming aware of any information in October 12 Strictly Long-term 2016 non- Company public media that may mislead stock prices it will promptly make a public 2016 fulfilled public clarification.issuance 3. The Company’s directors and senior executives shall seriously consider public opinions and criticisms and shall not directly or indirectly engage in trading of the Company’s shares using insider information or other improper means.Commitments timely fulfilled √ Yes □ No If any commitments remain unfulfilled beyond the agreed period the specific reasons for non- N/A fulfillment and the next steps shall be detailed Note: Commitments that have been fully fulfilled will no longer be disclosed in the next periodic report.(II) The Company has profit forecasts for certain assets or projects and the reporting period is still within the forecast period; the Company shall provide an explanation of whether the original profit forecasts have been achieved and the reasons thereof □ Applicable √ Not applicable (III) The Company is involved in performance commitments □ Applicable √ Not applicable II. Non-Operational Fund Occupation from Controlling Shareholders and Its Related Party □ Applicable √ Not applicable No non-operational fund occupation from controlling shareholders and its related party in the reporting period.III. External Guarantee out of the Regulations 9 4Changhong Meiling Co. Ltd. 2025 Annual Report Full Text □ Applicable √ Not applicable No external guarantee out of the regulations occurred in the reporting period.IV. Board of Directors’ Explanation Regarding the Most Recent “Non-Standard AuditReport” □ Applicable √ Not applicable V. Explanation by the Board of Directors and Independent Directors (If Any) on the Accounting Firm’s “Non-Standard Audit Report” for the Current Reporting Period □ Applicable √ Not applicable VI. Explanation of Changes in Accounting Policies Accounting Estimates or Corrections of Material Accounting Errors Compared with the Previous Year’s Financial Report □ Applicable √ Not applicable The Company had no changes in accounting policies or estimates nor any corrections of material accounting errors during the reporting period.VII. Explanation of Changes in the Scope of Consolidated Financial Statements Compared with the Previous Year’s Financial Report √ Applicable □ Not applicable The Company’s consolidated financial statements cover 25 subsidiaries including Sichuan Changhong Air Conditioner Co. Ltd. Zhongshan Changhong Electric Co. Ltd. and Zhongke Meiling Cryogenic Technology Co. Ltd. Compared with the previous year during the reporting period one new subsidiary Mianyang Changhong Smart Home Appliances Co. Ltd. was added to the scope of consolidation and 1 subsidiary Hefei IoT Technology Co. Ltd. was deregistered.For detailed information please refer to Section VIII "Financial Report" of this reportspecifically “IX. Changes in the Consolidation Scope" and “X. Equity in Other Entities".VIII. Appointment and Dismissal of Accounting Firms (I) Currently appointed accounting firm Domestic accounting firm name Pan-China Certified Public Accountants LLP Domestic accounting firm remuneration (RMB 175 10000) Consecutive years of audit services by domestic 2 years accounting firm Names of certified public accountants at domestic Li Yuanliang and Peng Yahui accounting firm Consecutive years of audit services by CPAs Li Yuanliang – 2 years; Peng Yahui – 2 years Foreign accounting firm name (if any) None 9 5Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Foreign accounting firm remuneration (RMB 10000) None (if any) Consecutive years of audit services by foreign None accounting firm (if any) Names of certified public accountants at foreign None accounting firm (if any) Consecutive years of audit services by foreign CPAs - (if any) (II) Change of accounting firm during the period □ Yes √ No Engagement of internal control audit firm financial advisor or sponsor √ Applicable □ Not applicable During the reporting period the Company engaged Pan-China Certified Public Accountants LLP as its internal control audit firm paying RMB 300000 for internal control audit services.IX. Risk of Delisting After the Annual Report Disclosure □ Applicable √ Not applicable X. Matters Related to Bankruptcy Reorganization □ Applicable √ Not applicable The Company did not experience any matters related to bankruptcy reorganization during the reporting period.XI. Major Litigation and Arbitration Matters √ Applicable □ Not applicable Wheth er an Progre Amount estima ss of Litigation Execution of Disclo involved ted litigati (arbitration) Disclosure Litigation (arbitration) overview litigation sure (RMB liabilit on ruling result and reference (arbitration) date 10000) y is (arbitr impact recogn ation) ized Zhiyijia an associate of the Company The The court ordered After the first- signed a sales contract with the defendant judgm the defendant instance judgment Dece Juchao Tianjin Pengsheng Logistics Co. Ltd. ent of Tianjin Pengsheng Tianjin Pengsheng mber Website (hereinafter referred to as "Tianjin the to immediately Gome Electric 24 (www.cninf Pengsheng"). After the contract was signed first 9617.43 No pay the plaintiff Appliances and 2022 o.com.cn) Zhiyijia the plaintiff supplied the goods to instan RMB other defendants did Octob (2022- Tianjin Pengsheng the defendant as agreed ce has 95428651.32 and not file an appeal er 20 1012023- but Tianjin Pengsheng the defendant failed come the corresponding the first-instance 2023 057) to fulfill the payment obligation to Zhiyijia into liquidated judgment has come as agreed. As of November 30 2022 effect. damages for into effect and 9 6Changhong Meiling Co. Ltd. 2025 Annual Report Full Text according to statistics Tianjin Pengsheng overdue payment Zhiyijia has applied the defendant still owed Zhiyijia a payment and bear the to the Mianyang of RMB 96174308.42. Based on this related litigation High-tech Court for Zhiyijia the plaintiff brought a lawsuit costs and property compulsory against Tianjin Pengsheng the defendant to preservation enforcement. As of the People's Court of Mianyang High-tech guarantee fees. the end of the Industrial Development Zone and reporting period requested the court to order Tianjin Zhiyijia has Pengsheng to immediately pay the plaintiff executed a total of RMB 96174308.42 and the corresponding RMB 40151899.40 liquidated damages for overdue payment in place and and bear the related litigation costs and Zhiyijia will property preservation guarantee fees. continue to promote the execution of the remaining unexecuted funds of RMB 55276751.92 to ensure the legitimate rights and interests of the Company.Meiling Group a subsidiary of the Company signed a sales contract with Gome Electrical Appliances Co. Ltd.(hereinafter referred to as "Gome"). After Among 22 cases the contract was signed Meiling Group the the first- and plaintiff fulfilled the supply obligation All second-instance according to the contract while Gome and first- judgments have all its affiliated companies the defendant and become effective.failed to fulfill the payment obligation to secon The court ordered Of these 5 cases Meiling Group according to the contract. d- the defendant were dismissed and According to statistics the defendant Gome instan Gome to 17 cases upheld our Juchao and its affiliated companies owe Meiling ce immediately pay claims.Octob Website Group RMB 9841267.21 for purchase judgm Meiling Group Enforcement 1086.01 No er 20 (www.cninf payment and RMB 1018820.55 for ents RMB applications have 2023 o.com.cn) liquidated damages for overdue payment have 5630757.64 plus been submitted for (2023-058) totaling RMB 10860087.76. Based on this been corresponding all 17 upheld cases the plaintiff Meiling Group filed a lawsuit render overdue payment and Meiling Group against the defendant Gome and its ed and penalties. will continue to affiliated companies in the People's Court are pursue enforcement of Hefei High-tech Industry Development effecti to safeguard the Zone. It requested the court to order the ve. company’s defendant Gome to immediately pay the legitimate rights and plaintiff Meiling Group the purchase interests.payment and the liquidated damages for overdue payment totaling RMB 10860087.76. Accumulated amount of other litigation that Partial does not meet the disclosure standard of 18118.40 - - - - - ly Note major litigation Note: An estimated liability of RMB 33463900 was recognized in 2025. For details please refer to “Section VIII Financial Report” “V. Notes to Major Items of Consolidate FinancialStatement” specifically “40. Estimated liabilities” in this report. 9 7Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Note: The Company's shareholding in Zhiyijia is 50% and the products are sold through Zhiyijia's smart trading platform. The customers channels and sales transactions corresponding to the products sold are controlled and docked by the company itself and the external transaction object is Zhiyijia and related party transactions are formed between the Company and Zhiyijia. In terms of payment settlement the Company and Zhiyijia follow the principle of "external customer account period is Zhiyijia's account period to the Company and external customer payment is Zhiyijia's payment to the Company which is not allowed to be remained or transited at Zhiyijia".The amounts involved in this case are all accounts receivable and liquidated damages for overdue payment caused by the Company's sales through the smart trading platform of Zhiyijia but the subject of the agreement is Zhiyijia and this lawsuit will be filed by Zhiyijia. The Company and its associate Zhiyijia will claim their legitimate rights and interests according to law and actively take relevant measures to safeguard the legitimate rights and interests of the Company Zhiyijia and the investors.XII. Penalty and Rectification □ Applicable √ Not applicable XIII. Integrity of the Company and Its Controlling Shareholders and Actual Controllers √ Applicable □ Not applicable During the reporting period the Company and its controlling shareholders and actual controllers maintained a good integrity status with no instances of failing to comply with effective court judgments or defaulting on significant debts upon maturity. 9 8Changhong Meiling Co. Ltd. 2025 Annual Report Full Text XIV. Major Related Party Transaction (I) Related party transaction with routine operation concerned √ Applicable □ Not applicable Whet Type her Clearin Related Availa of Related Proport Approved over g form party ble relate Content of party ion in transactio the for Related Relations Pricing transaction simila No. d related party transaction similar n quota appro related Disclosure date Disclosure reference party hip principle amount r party transaction price (RMB transact (RMB ved party (RMB marke transa 10000) ions 10000) limite transact 10000) t price ction d or ion not Juchao Website (www.cninfo.com.cn) Controllin Announcement No.: 2024-067 2024-068 Pressure regulator Spot Sichuan g 2024-069 2024-076 2025-036 2025-037 Purcha integrated circuit exchang December 12 2024 December 28 Changhon Sharehold Market 2025-040 2025-077 2025-078 and 2025- 1 se of transistors steel 8062.15 8062.15 0.35% 15000 No e bank - 2024 May 24 2025 November 6 g Electric er and price 082.goods plate plastic parts acceptan 2025 November 25 2025 Co. Ltd. Ultimate etc. ce Controller Sichuan Juchao Website (www.cninfo.com.cn) Controllin Changhon Spot Announcement No.: 2024-067 2024-068 g g Purcha Steel plate and exchang December 12 2024 December 28 2024-069 2024-076 2025-036 2025-037 Sharehold Market 2 Electronic se of plastic particles 260842.30 260842.30 11.40% 350000 No e bank - 2024 May 24 2025 November 6 2025-040 2025-077 2025-078 and 2025- er and price s Holding goods etc. acceptan 2025 November 25 2025 082.Ultimate Group ce Controller Co. Ltd.Changhon Other Spot Juchao Website (www.cninfo.com.cn) g Huayi enterprise Purcha exchang December 12 2024 December 28 Announcement No.: 2024-067 2024-068 3 Compress control Market se of Compressor 51480.82 51480.82 2.25% 80000 No e bank - 2024 May 24 2025 November 6 2024-069 2024-076 2025-036 2025-037 or Co. under the price goods acceptan 2025 November 25 2025 2025-040 2025-077 2025-078 and 2025- Ltd. same ce 082.controlling 9 9Changhong Meiling Co. Ltd. 2025 Annual Report Full Text shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Spot Changhon under the Components 2025-040 2025-077 2025-078 and 2025- Purcha exchang December 12 2024 December 28 g Mold same plastic parts and Market 082. 4 se of 111811.87 111811.87 4.89% 160000 No e bank - 2024 May 24 2025 November 6 Plastic controlling lining accessories price goods acceptan 2025 November 25 2025 Tech. Co. shareholde etc.ce Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan Spot under the 2025-040 2025-077 2025-078 and 2025- Changhon Purcha Base plate exchang December 12 2024 December 28 same Market 082. 5 g Jijia se of assembly black 62201.71 62201.71 2.72% 90000 No e bank - 2024 May 24 2025 November 6 controlling price Fine Co. goods plate bracket etc. acceptan 2025 November 25 2025 shareholde Ltd. ce r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan Spot under the Packing boxes 2025-040 2025-077 2025-078 and 2025- Changhon Purcha exchang December 12 2024 December 28 same foam fixed Market 082. 6 g Package se of 14343.00 14343.00 0.63% 25000 No e bank - 2024 May 24 2025 November 6 controlling support block price Printing goods acceptan 2025 November 25 2025 shareholde labels etc.Co. Ltd. ce r and ultimate controller 7 Sichuan Other Purcha 2686.09 2686.09 0.12% 4000 No Spot - December 12 2024 December 28 Juchao Website (www.cninfo.com.cn) Printed board Market Changhon enterprise se of exchang 2024 May 24 2025 November 6 Announcement No.: 2024-067 2024-068 1 00Changhong Meiling Co. Ltd. 2025 Annual Report Full Text g control goods components price e bank 2025 November 25 2025 2024-069 2024-076 2025-036 2025-037 Precision under the acceptan 2025-040 2025-077 2025-078 and 2025- Electronic same ce 082.Technolog controlling y Co. Ltd. shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Changhon under the 2025-040 2025-077 2025-078 and 2025- Purcha Spot December 12 2024 December 28 g same Market 082. 8 se of Foods 2.70 2.70 0.00% 5000 No exchang - 2024 May 24 2025 November 6 Internation controlling price goods e 2025 November 25 2025 al Hotel shareholde Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Guangdon control 2024-069 2024-076 2025-036 2025-037 Spot g under the 2025-040 2025-077 2025-078 and 2025- Purcha exchang December 12 2024 December 28 Changhon same Market 082. 9 se of Foam and carton 704.89 704.89 0.03% 5000 No e bank - 2024 May 24 2025 November 6 g controlling price goods acceptan 2025 November 25 2025 Electronic shareholde ce s Co. Ltd. r and ultimate controller Sichuan Other Juchao Website (www.cninfo.com.cn) Changhon enterprise Announcement No.: 2024-067 2024-068 g control 2024-069 2024-076 2025-036 2025-037 Purcha Spot December 12 2024 December 28 Intelligent under the Outside cover Market 2025-040 2025-077 2025-078 and 2025-10 se of 10.16 10.16 0.0004% 5000 No exchang - 2024 May 24 2025 November 6 Manufactu same parts price 082. goods e 2025 November 25 2025 ring controlling Technolog shareholde y Co. Ltd. r and 1 01Changhong Meiling Co. Ltd. 2025 Annual Report Full Text ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the 2025-040 2025-077 2025-078 and 2025- Changhon Purcha Spot December 12 2024 December 28 same Electronic Market 082. 11 g Hongwei se of 2.32 2.32 0.0001% 5000 No exchang - 2024 May 24 2025 November 6 controlling products price Technolog goods e 2025 November 25 2025 shareholde y Co. Ltd.r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Spot Changhon under the 2025-040 2025-077 2025-078 and 2025- Purcha exchang December 12 2024 December 28 g New same Batteries Market 082. 12 se of 69.32 69.32 0.003% 5000 No e bank - 2024 May 24 2025 November 6 Energy controlling electrical parts price goods acceptan 2025 November 25 2025 Technolog shareholde ce y Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the 2025-040 2025-077 2025-078 and 2025- Zhiyijia Purcha Spot December 12 2024 December 28 same Air conditioner Market 082. 13 Network se of 1788.55 1788.55 0.08% 5000 No exchang - 2024 May 24 2025 November 6 controlling LCD TV price Technolog goods e 2025 November 25 2025 shareholde y Co. Ltd.r and ultimate controller Changhon Other Purcha Spot December 12 2024 December 28 Juchao Website (www.cninfo.com.cn) 14 g enterprise TV air Market se of 779.82 779.82 0.03% 4000 No exchang - 2024 May 24 2025 November 6 Announcement No.: 2024-067 2024-068 Internation control conditioner price goods e 2025 November 25 2025 2024-069 2024-076 2025-036 2025-037 al under the 2025-040 2025-077 2025-078 and 2025- 1 02Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Holdings same 082.(Hong controlling Kong) shareholde Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the 2025-040 2025-077 2025-078 and 2025- Changhon Purcha Bank December 12 2024 December 28 same Market 082. 15 g Device se of Printed board 789.46 789.46 0.03% 5000 No acceptan - 2024 May 24 2025 November 6 controlling price Technolog goods ce 2025 November 25 2025 shareholde y Co. Ltd.r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control Remote controls 2024-069 2024-076 2025-036 2025-037 Spot Changhon under the switching 2025-040 2025-077 2025-078 and 2025- Purcha exchang December 12 2024 December 28 g same transformers Market 082. 16 se of 1864.88 1864.88 0.08% 5000 No e bank - 2024 May 24 2025 November 6 Electronic controlling printed boards price goods acceptan 2025 November 25 2025 Products shareholde electronic ce Co. Ltd. r and components etc.ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the 2025-040 2025-077 2025-078 and 2025- Purcha Spot December 12 2024 December 28 Jiahong same Market 082. 17 se of Foods 1.98 1.98 0.00% 5000 No exchang - 2024 May 24 2025 November 6 Industrial controlling price goods e 2025 November 25 2025 Co. Ltd. shareholde r and ultimate controller 1 03Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Spot Sichuan under the Internet access 2025-040 2025-077 2025-078 and 2025- Purcha exchang December 12 2024 December 28 Ailian same modules Market 082. 18 se of 1373.13 1373.13 0.06% 3000 No e bank - 2024 May 24 2025 November 6 Technolog controlling electronic price goods acceptan 2025 November 25 2025 y Co. Ltd. shareholde components etc.ce r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Spot Sichuan under the 2025-040 2025-077 2025-078 and 2025- Purcha Inverter integrated exchang December 12 2024 December 28 Aichuang same Market 082. 19 se of board water 31448.88 31448.88 1.37% 42000 No e bank - 2024 May 24 2025 November 6 Technolog controlling price goods dispenser etc. acceptan 2025 November 25 2025 y Co. Ltd. shareholde ce r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Spot Sichuan under the Inverter integrated 2025-040 2025-077 2025-078 and 2025- Purcha exchang December 12 2024 December 28 Aoku same board electronic Market 082. 20 se of 2387.74 2387.74 0.10% 7000 No e bank - 2024 May 24 2025 November 6 Technolog controlling control price goods acceptan 2025 November 25 2025 y Co. Ltd. shareholde components ce r and ultimate controller Sichuan Controllin Juchao Website (www.cninfo.com.cn) Transportation Changhon g Receip Announcement No.: 2024-067 2024-068 services Spot December 12 2024 December 28 g Sharehold t of Market 2024-069 2024-076 2025-036 2025-037 21 recruitment 371.13 371.13 0.16% 350000 No exchang - 2024 May 24 2025 November 6 Electronic er and service price 2025-040 2025-077 2025-078 and 2025-services training e 2025 November 25 2025 s Holding Ultimate s 082. services etc.Group Controller 1 04Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Co. Ltd.Software usage Juchao Website (www.cninfo.com.cn) Controllin services Announcement No.: 2024-067 2024-068 Sichuan g Receip information 2024-069 2024-076 2025-036 2025-037 Spot December 12 2024 December 28 Changhon Sharehold t of consulting Market 2025-040 2025-077 2025-078 and 2025- 22 3348.19 3348.19 1.47% 10000 No exchang - 2024 May 24 2025 November 6 g Electric er and service services price 082.e 2025 November 25 2025 Co. Ltd. Ultimate s inspection and Controller certification services etc.Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Transportation Changhon under the Receip 2025-040 2025-077 2025-078 and 2025- services Spot December 12 2024 December 28 g same t of Market 082. 23 warehousing and 81486.80 81486.80 35.66% 85000 No exchang - 2024 May 24 2025 November 6 Minsheng controlling service price handling services e 2025 November 25 2025 Logistics shareholde s etc.Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control Commissioned 2024-069 2024-076 2025-036 2025-037 Spot Changhon under the Receip processing 2025-040 2025-077 2025-078 and 2025- exchang December 12 2024 December 28 g Mold same t of services Market 082. 24 3738.69 3738.69 1.64% 6500 No e bank - 2024 May 24 2025 November 6 Plastic controlling service equipment price acceptan 2025 November 25 2025 Tech. Co. shareholde s maintenance ce Ltd. r and services ultimate controller Other Juchao Website (www.cninfo.com.cn) Sichuan Three guarantees enterprise Announcement No.: 2024-067 2024-068 Changhon Receip service equipment control Spot December 12 2024 December 28 t of Market 2024-069 2024-076 2025-036 2025-037 25 g repair service under the 39405.93 39405.93 17.24% 51000 No exchang - 2024 May 24 2025 November 6 service 2025-040 2025-077 2025-078 and 2025-Kuaiyidia transportation price same e 2025 November 25 2025 s 082. n Electric service controlling Service installation shareholde 1 05Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Co. Ltd. r and service etc.ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Receip Software usage 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Hongxin same t of services Market 082. 26 168.83 168.83 0.07% 10000 No exchang - 2024 May 24 2025 November 6 Software controlling service information price e 2025 November 25 2025 Co. Ltd. shareholde s services etc.r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Guangdon control 2024-069 2024-076 2025-036 2025-037 g under the Receip Network services 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Changhon same t of recruitment Market 082. 27 28.39 28.39 0.01% 10000 No exchang - 2024 May 24 2025 November 6 g controlling service services security price e 2025 November 25 2025 Electronic shareholde s services etc.s Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Receip Catering services 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Jiahong same t of property Market 082. 28 1138.02 1138.02 0.50% 5000 No exchang - 2024 May 24 2025 November 6 Industrial controlling service management price e 2025 November 25 2025 Co. Ltd. shareholde s services etc.r and ultimate controller Sichuan Other Receip Conference Market Juchao Website (www.cninfo.com.cn) 29 180.61 180.61 0.08% 5000 No Spot - December 12 2024 December 28 Changhon enterprise t of services price Announcement No.: 2024-067 2024-068 exchang 2024 May 24 2025 November 6 g control service accommodation 2024-069 2024-076 2025-036 2025-037 1 06Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Internation under the s services travel e 2025 November 25 2025 2025-040 2025-077 2025-078 and 2025- al Hotel same services 082.Co. Ltd. controlling shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Receip 2025-040 2025-077 2025-078 and 2025- Changhon Property Spot December 12 2024 December 28 same t of Market 082. 30 g Property management 7.48 7.48 0.00% 5000 No exchang - 2024 May 24 2025 November 6 controlling service price Service services e 2025 November 25 2025 shareholde s Co. Ltd.r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Receip 2025-040 2025-077 2025-078 and 2025- Changhon Design and Spot December 12 2024 December 28 same t of Market 082. 31 g Hongwei development 2359.38 2359.38 1.03% 10000 No exchang - 2024 May 24 2025 November 6 controlling service price Technolog services e 2025 November 25 2025 shareholde s y Co. Ltd.r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control Receip 2024-069 2024-076 2025-036 2025-037 Zhiyijia under the Design services Spot December 12 2024 December 28 t of Market 2025-040 2025-077 2025-078 and 2025- 32 Network same platform usage 3.26 3.26 0.00% 10000 No exchang - 2024 May 24 2025 November 6 service price 082. Technolog controlling services etc. e 2025 November 25 2025 s y Co. Ltd. shareholde r and ultimate 1 07Changhong Meiling Co. Ltd. 2025 Annual Report Full Text controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Receip 2025-040 2025-077 2025-078 and 2025- Changhon Telecommunicatio Spot December 12 2024 December 28 same t of Market 082. 33 g Xinwang ns network 0.54 0.54 0.00% 10000 No exchang - 2024 May 24 2025 November 6 controlling service price Technolog services e 2025 November 25 2025 shareholde s y Co. Ltd.r and ultimate controller Other Juchao Website (www.cninfo.com.cn) Sichuan enterprise Announcement No.: 2024-067 2024-068 Changhon control 2024-069 2024-076 2025-036 2025-037 g under the Receip Project consulting 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Intelligent same t of services Market 082. 34 239.72 239.72 0.10% 5000 No exchang - 2024 May 24 2025 November 6 Manufactu controlling service equipment repair price e 2025 November 25 2025 ring shareholde s services Technolog r and y Co. Ltd. ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan Spot under the Receip 2025-040 2025-077 2025-078 and 2025- Changhon Entrusted exchang December 12 2024 December 28 same t of Market 082. 35 g Jijia processing 939.65 939.65 0.41% 10000 No e bank - 2024 May 24 2025 November 6 controlling service price Fine Co. services acceptan 2025 November 25 2025 shareholde s Ltd. ce r and ultimate controller Sichuan Other Receip Juchao Website (www.cninfo.com.cn) Changhon enterprise Spot December 12 2024 December 28 t of Environmental Market Announcement No.: 2024-067 2024-068 36 g Gerun control 26.93 26.93 0.01% 5000 No exchang - 2024 May 24 2025 November 6 service protection services price 2024-069 2024-076 2025-036 2025-037 Environm under the e 2025 November 25 2025 s 2025-040 2025-077 2025-078 and 2025- ental same 1 08Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Protection controlling 082.Technolog shareholde y Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Receip 2025-040 2025-077 2025-078 and 2025- Changhon Spot December 12 2024 December 28 same t of Market 082. 37 g Network Maintenance fees 5.39 5.39 0.00% 10000 No exchang - 2024 May 24 2025 November 6 controlling service price Technolog e 2025 November 25 2025 shareholde s y Co. Ltd.r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Technical Sichuan under the Receip 2025-040 2025-077 2025-078 and 2025- services Spot December 12 2024 December 28 Aichuang same t of Market 082. 38 warehouse 87.02 87.02 0.04% 5000 No exchang - 2024 May 24 2025 November 6 Technolog controlling service price management e 2025 November 25 2025 y Co. Ltd. shareholde s services r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Receip 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Ailian same t of Market 082. 39 Software services 0.20 0.20 0.0001% 5000 No exchang - 2024 May 24 2025 November 6 Technolog controlling service price e 2025 November 25 2025 y Co. Ltd. shareholde s r and ultimate controller 1 09Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 under the Receip 2025-040 2025-077 2025-078 and 2025- Changhon Spot December 12 2024 December 28 same t of Market 082. 40 gEuropeEl Market support 1506.43 1506.43 0.66% 10000 No exchang - 2024 May 24 2025 November 6 controlling service price ectrics.r.o e 2025 November 25 2025 shareholde s r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 CHANGH under the Receip 2025-040 2025-077 2025-078 and 2025- ONGELE Spot December 12 2024 December 28 same t of Market 082. 41 CTRIC(A Market support 117.61 117.61 0.05% 10000 No exchang - 2024 May 24 2025 November 6 controlling service price USTRALI e 2025 November 25 2025 shareholde s A)PTY.r and ultimate controller Other Juchao Website (www.cninfo.com.cn) Changhon enterprise Announcement No.: 2024-067 2024-068 g control 2024-069 2024-076 2025-036 2025-037 Internation under the Receip 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 al same t of Market 082. 42 Market support 701.76 701.76 0.31% 10000 No exchang - 2024 May 24 2025 November 6 Holdings controlling service price e 2025 November 25 2025 (Hong shareholde s Kong) r and Co. Ltd. ultimate controller Other Instrument repair Juchao Website (www.cninfo.com.cn) Sichuan enterprise Receip services Spot December 12 2024 December 28 Announcement No.: 2024-067 2024-068 Qiruike control t of Market 43 inspection and 732.74 732.74 0.32% 5000 No exchang - 2024 May 24 2025 November 6 2024-069 2024-076 2025-036 2025-037 Technolog under the service price certification e 2025 November 25 2025 2025-040 2025-077 2025-078 and 2025- y Co. Ltd. same s services 082.controlling 1 10Changhong Meiling Co. Ltd. 2025 Annual Report Full Text shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Hongchen under the Receip 2025-040 2025-077 2025-078 and 2025- g Engineering Spot December 12 2024 December 28 same t of Market 082. 44 Constructi maintenance 0.05 0.05 0.00% 5000 No exchang - 2024 May 24 2025 November 6 controlling service price on expenses e 2025 November 25 2025 shareholde s Engineerin r and g Co. Ltd.ultimate controller Refrigerators air Juchao Website (www.cninfo.com.cn) Controllin conditioners Spot Announcement No.: 2024-067 2024-068 Sichuan g kitchen and exchang December 12 2024 December 28 2024-069 2024-076 2025-036 2025-037 Changhon Sharehold Sale of Market 45 bathroom 299.48 299.48 0.01% 1750 No e bank - 2024 May 24 2025 November 6 2025-040 2025-077 2025-078 and 2025- g Electric er and goods price appliances small acceptan 2025 November 25 2025 082.Co. Ltd. Ultimate home appliances ce Controller etc.Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the 2025-040 2025-077 2025-078 and 2025- Changhon December 12 2024 December 28 same Sale of Market 082. 46 g Jijia - - 0.00% 10000 No - 2024 May 24 2025 November 6 controlling goods price Fine Co. 2025 November 25 2025 shareholde Ltd.r and ultimate controller Sichuan Other Plastic parts Juchao Website (www.cninfo.com.cn) Changhon enterprise Spot December 12 2024 December 28 Sale of aluminum foil Market Announcement No.: 2024-067 2024-068 47 g Mold control 15.70 15.70 0.00% 2000 No exchang - 2024 May 24 2025 November 6 goods tapes small home price 2024-069 2024-076 2025-036 2025-037 Plastic under the e 2025 November 25 2025 appliances 2025-040 2025-077 2025-078 and 2025- Tech. Co. same 1 11Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Ltd. controlling 082.shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Washing control 2024-069 2024-076 2025-036 2025-037 Sichuan machines Spot under the 2025-040 2025-077 2025-078 and 2025- Zhiyijia refrigerators exchang December 12 2024 December 28 same Sale of Market 082. 48 Network freezers air 642779.70 642779.70 21.33% 900000 No e bank - 2024 May 24 2025 November 6 controlling goods price Technolog conditioners acceptan 2025 November 25 2025 shareholde y Co. Ltd. small home ce r and appliances etc.ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Changhon under the 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 g same Sale of Air conditioners Market 082. 49 94.85 94.85 0.00% 2000 No exchang - 2024 May 24 2025 November 6 Minsheng controlling goods refrigerators etc. price e 2025 November 25 2025 Logistics shareholde Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control Air conditioners 2024-069 2024-076 2025-036 2025-037 Changhon under the inverter integrated 2025-040 2025-077 2025-078 and 2025- g Spot December 12 2024 December 28 same Sale of boards Market 082. 50 Kuaiyidia 707.42 707.42 0.02% 2000 No exchang - 2024 May 24 2025 November 6 controlling goods components price n Electric e 2025 November 25 2025 shareholde remote controllers Service r and etc.Co. Ltd.ultimate controller 1 12Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Zhongjiu under the 2025-040 2025-077 2025-078 and 2025- Flash Spot December 12 2024 December 28 same Sale of Market 082. 51 Medical Air conditioners 74.35 74.35 0.00% 4500 No exchang - 2024 May 24 2025 November 6 controlling goods price Technolog e 2025 November 25 2025 shareholde y Co. Ltd.r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Huafeng same Sale of Market 082. 52 Air conditioners 134.23 134.23 0.00% 4500 No exchang - 2024 May 24 2025 November 6 Technolog controlling goods price e 2025 November 25 2025 y Co. Ltd. shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Kitchen and 2025-040 2025-077 2025-078 and 2025- Changhon Spot December 12 2024 December 28 same Sale of bathroom Market 082. 53 g Real 0.40 0.40 0.00% 2000 No exchang - 2024 May 24 2025 November 6 controlling goods appliances small price Estate Co. e 2025 November 25 2025 shareholde home appliances Ltd.r and ultimate controller Sichuan Other Juchao Website (www.cninfo.com.cn) Changhon enterprise Spot December 12 2024 December 28 Announcement No.: 2024-067 2024-068 control Sale of Market 54 g Xinwang Air conditioners 207.96 207.96 0.01% 2000 No exchang - 2024 May 24 2025 November 6 2024-069 2024-076 2025-036 2025-037 Technolog under the goods price e 2025 November 25 2025 2025-040 2025-077 2025-078 and 2025- y Co. Ltd. same 082.controlling 1 13Changhong Meiling Co. Ltd. 2025 Annual Report Full Text shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Guangdon control 2024-069 2024-076 2025-036 2025-037 Spot g under the 2025-040 2025-077 2025-078 and 2025- exchang December 12 2024 December 28 Changhon same Sale of Market 082. 55 Air conditioners 621.96 621.96 0.02% 2000 No e bank - 2024 May 24 2025 November 6 g controlling goods price acceptan 2025 November 25 2025 Electronic shareholde ce s Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Hongchen under the 2025-040 2025-077 2025-078 and 2025- g Spot December 12 2024 December 28 same Sale of Market 082. 56 Constructi Air conditioners 29.00 29.00 0.00% 4500 No exchang - 2024 May 24 2025 November 6 controlling goods price on e 2025 November 25 2025 shareholde Engineerin r and g Co. Ltd.ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Printed circuit 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Aoku same Sale of board assemblies Market 082. 57 3.70 3.70 0.00% 4500 No exchang - 2024 May 24 2025 November 6 Technolog controlling goods small home price e 2025 November 25 2025 y Co. Ltd. shareholde appliances etc.r and ultimate controller 58 Sichuan Other Sale of Electrical Market 11.31 11.31 0.00% 4500 No Spot - December 12 2024 December 28 Juchao Website (www.cninfo.com.cn) Ailian enterprise exchang 2024 May 24 2025 November 6 Announcement No.: 2024-067 2024-068 1 14Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Technolog control goods components price e 2025 November 25 2025 2024-069 2024-076 2025-036 2025-037 y Co. Ltd. under the 2025-040 2025-077 2025-078 and 2025- same 082.controlling shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Hongshan under the 2025-040 2025-077 2025-078 and 2025- g Spot December 12 2024 December 28 same Sale of Refrigerator Market 082. 59 Constructi 1.42 1.42 0.00% 2000 No exchang - 2024 May 24 2025 November 6 controlling goods cabinets price on e 2025 November 25 2025 shareholde Engineerin r and g Co. Ltd.ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Jiahong same Sale of Market 082. 60 Air conditioners 3.34 3.34 0.00% 4500 No exchang - 2024 May 24 2025 November 6 Industrial controlling goods price e 2025 November 25 2025 Co. Ltd. shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) Sichuan enterprise Announcement No.: 2024-067 2024-068 Changhon control Spot December 12 2024 December 28 2024-069 2024-076 2025-036 2025-037 g New under the Sale of Market 61 Air conditioners 92.92 92.92 0.00% 4500 No exchang - 2024 May 24 2025 November 6 2025-040 2025-077 2025-078 and 2025- Energy same goods price e 2025 November 25 2025 082.Technolog controlling y Co. Ltd. shareholde r and 1 15Changhong Meiling Co. Ltd. 2025 Annual Report Full Text ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Changhon under the 2025-040 2025-077 2025-078 and 2025- g Spot December 12 2024 December 28 same Sale of Market 082. 62 Precision Sockets 0.03 0.03 0.00% 2000 No exchang - 2024 May 24 2025 November 6 controlling goods price Electronic e 2025 November 25 2025 shareholde Technolog r and y Co. Ltd.ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 PT.CHAN under the 2025-040 2025-077 2025-078 and 2025- GHONGE Spot December 12 2024 December 28 same Sale of Market 082. 63 LECTRIC Televisions 222.44 222.44 0.01% 2000 No exchang - 2024 May 24 2025 November 6 controlling goods price INDONES e 2025 November 25 2025 shareholde IA r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 CHANGH under the 2025-040 2025-077 2025-078 and 2025- ONG(HK) Air conditioners Spot December 12 2024 December 28 same Sale of Market 082. 64 TRADIN and their spare 145226.69 145226.69 4.82% 179500 No exchang - 2024 May 24 2025 November 6 controlling goods price GLIMITE parts etc. e 2025 November 25 2025 shareholde D r and ultimate controller CHANGH Other Refrigerators Spot December 12 2024 December 28 Juchao Website (www.cninfo.com.cn) Sale of Market 65 ONGELE enterprise freezers washing 31176.68 31176.68 1.03% 179500 No exchang - 2024 May 24 2025 November 6 Announcement No.: 2024-067 2024-068 CTRIC(A control goods price machines etc. e 2025 November 25 2025 2024-069 2024-076 2025-036 2025-037 USTRALI under the 2025-040 2025-077 2025-078 and 2025- 1 16Changhong Meiling Co. Ltd. 2025 Annual Report Full Text A)PTY.LT same 082.D. controlling shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 under the 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Orion.Co. same Sale of Market 082. 66 Refrigerators 934.54 934.54 0.03% 8500 No exchang - 2024 May 24 2025 November 6 ltd controlling goods price e 2025 November 25 2025 shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 under the 2025-040 2025-077 2025-078 and 2025- Changhon Spot December 12 2024 December 28 same Sale of Market 082. 67 gEuropeEl Refrigerators 16820.62 16820.62 0.56% 18000 No exchang - 2024 May 24 2025 November 6 controlling goods price ectrics.r.o e 2025 November 25 2025 shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) Changhon enterprise Announcement No.: 2024-067 2024-068 g control 2024-069 2024-076 2025-036 2025-037 Refrigerators Internation under the 2025-040 2025-077 2025-078 and 2025- freezers air Spot December 12 2024 December 28 al same Sale of Market 082. 68 conditioners and 43674.92 43674.92 1.45% 90000 No exchang - 2024 May 24 2025 November 6 Holdings controlling goods price their spare parts e 2025 November 25 2025 (Hong shareholde etc.Kong) r and Co. Ltd. ultimate controller 1 17Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Kitchen and 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Aichuang same Sale of bathroom Market 082. 69 23.54 23.54 0.00% 4500 No exchang - 2024 May 24 2025 November 6 Technolog controlling goods appliances small price e 2025 November 25 2025 y Co. Ltd. shareholde home appliances r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Yuanxin under the 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Financial same Sale of Market 082. 70 Air conditioners 61.85 61.85 0.00% 2000 No exchang - 2024 May 24 2025 November 6 Leasing controlling goods price e 2025 November 25 2025 Co. Ltd. shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) Sichuan enterprise Announcement No.: 2024-067 2024-068 Changhon control 2024-069 2024-076 2025-036 2025-037 g under the 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Jiechuang same Sale of Market 082. 71 Air conditioners 45.13 45.13 0.00% 4500 No exchang - 2024 May 24 2025 November 6 Lithium controlling goods price e 2025 November 25 2025 Battery shareholde Technolog r and y Co. Ltd. ultimate controller Sichuan Controllin Juchao Website (www.cninfo.com.cn) Changhon g Provisi Announcement No.: 2024-067 2024-068 Spot December 12 2024 December 28 g Sharehold on of Market 2024-069 2024-076 2025-036 2025-037 72 Labor services 18.87 18.87 0.22% 4500 No exchang - 2024 May 24 2025 November 6 Electronic er and service price 2025-040 2025-077 2025-078 and 2025-e 2025 November 25 2025 s Holding Ultimate s 082.Group Controller 1 18Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Co. Ltd.Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Property Changhon under the Provisi 2025-040 2025-077 2025-078 and 2025- management Spot December 12 2024 December 28 g Mold same on of Market 082. 73 services 492.26 492.26 5.81% 10000 No exchang - 2024 May 24 2025 November 6 Plastic controlling service price warehousing e 2025 November 25 2025 Tech. Co. shareholde s services etc.Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan Property Spot under the Provisi 2025-040 2025-077 2025-078 and 2025- Changhon management exchang December 12 2024 December 28 same on of Market 082. 74 g Jijia services 56.60 56.60 0.67% 10000 No e bank - 2024 May 24 2025 November 6 controlling service price Fine Co. warehousing acceptan 2025 November 25 2025 shareholde s Ltd. services ce r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Provisi 2025-040 2025-077 2025-078 and 2025- Labor services Spot December 12 2024 December 28 Aichuang same on of Market 082. 75 warehousing 8.12 8.12 0.10% 4500 No exchang - 2024 May 24 2025 November 6 Technolog controlling service price services e 2025 November 25 2025 y Co. Ltd. shareholde s r and ultimate controller Sichuan Other Provisi Juchao Website (www.cninfo.com.cn) enterprise Installation Spot December 12 2024 December 28 Huafeng on of Market Announcement No.: 2024-067 2024-068 76 control services human 351.09 351.09 4.15% 4500 No exchang - 2024 May 24 2025 November 6 Technolog service price 2024-069 2024-076 2025-036 2025-037 y Co. Ltd. under the resources e 2025 November 25 2025 s 2025-040 2025-077 2025-078 and 2025- same 1 19Changhong Meiling Co. Ltd. 2025 Annual Report Full Text controlling 082.shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Provisi 2025-040 2025-077 2025-078 and 2025- Zhiyijia Technical Spot December 12 2024 December 28 same on of Market 082. 77 Network services labor 17.72 17.72 0.21% 10000 No exchang - 2024 May 24 2025 November 6 controlling service price Technolog services etc. e 2025 November 25 2025 shareholde s y Co. Ltd.r and ultimate controller Controllin Juchao Website (www.cninfo.com.cn) Sichuan g Provisi Announcement No.: 2024-067 2024-068 Installation Spot December 12 2024 December 28 Changhon Sharehold on of Market 2024-069 2024-076 2025-036 2025-037 78 services labor 404.85 404.85 4.78% 10000 No exchang - 2024 May 24 2025 November 6 g Electric er and service price 2025-040 2025-077 2025-078 and 2025- services e 2025 November 25 2025 Co. Ltd. Ultimate s 082.Controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Provisi 2025-040 2025-077 2025-078 and 2025- Changhon Spot December 12 2024 December 28 same on of Market 082. 79 g Device Energy services 2.09 2.09 0.02% 10000 No exchang - 2024 May 24 2025 November 6 controlling service price Technolog e 2025 November 25 2025 shareholde s y Co. Ltd.r and ultimate controller Sichuan Other Provisi Juchao Website (www.cninfo.com.cn) Changhon enterprise Spot December 12 2024 December 28 on of Installation Market Announcement No.: 2024-067 2024-068 80 g New control 88.99 88.99 1.05% 4500 No exchang - 2024 May 24 2025 November 6 service services price 2024-069 2024-076 2025-036 2025-037 Energy under the e 2025 November 25 2025 s 2025-040 2025-077 2025-078 and 2025- Technolog same 1 20Changhong Meiling Co. Ltd. 2025 Annual Report Full Text y Co. Ltd. controlling 082.shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Zhongjiu under the Provisi 2025-040 2025-077 2025-078 and 2025- Flash Spot December 12 2024 December 28 same on of Installation Market 082. 81 Medical 71.99 71.99 0.85% 4500 No exchang - 2024 May 24 2025 November 6 controlling service services price Technolog e 2025 November 25 2025 shareholde s y Co. Ltd.r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Mianyang under the Provisi Technical 2025-040 2025-077 2025-078 and 2025- Huafeng Spot December 12 2024 December 28 same on of services Market 082. 82 Hulian 20.44 20.44 0.24% 4500 No exchang - 2024 May 24 2025 November 6 controlling service maintenance price Technolog e 2025 November 25 2025 shareholde s services y Co. Ltd.r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Changhon under the Provisi 2025-040 2025-077 2025-078 and 2025- g Huayi Spot December 12 2024 December 28 same on of Market 082. 83 Compress Labor services 38.24 38.24 0.45% 220 No exchang - 2024 May 24 2025 November 6 controlling service price or Co. e 2025 November 25 2025 shareholde s Ltd.r and ultimate controller 1 21Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Changhon under the Provisi Maintenance 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 g same on of services property Market 082. 84 13.50 13.50 0.16% 10000 No exchang - 2024 May 24 2025 November 6 Minsheng controlling service management price e 2025 November 25 2025 Logistics shareholde s services Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Provisi 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Ailian same on of Warehousing Market 082. 85 0.32 0.32 0.00% 4500 No exchang - 2024 May 24 2025 November 6 Technolog controlling service services price e 2025 November 25 2025 y Co. Ltd. shareholde s r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Provisi 2025-040 2025-077 2025-078 and 2025- Changhon Spot December 12 2024 December 28 same on of Market 082. 86 g Xinwang Labor services 219.63 219.63 2.59% 10000 No exchang - 2024 May 24 2025 November 6 controlling service price Technolog e 2025 November 25 2025 shareholde s y Co. Ltd.r and ultimate controller Sichuan Other Juchao Website (www.cninfo.com.cn) Changhon enterprise Provisi Labor services Spot December 12 2024 December 28 Announcement No.: 2024-067 2024-068 87 g control on of property Market 192.99 192.99 2.28% 10000 No exchang - 2024 May 24 2025 November 6 2024-069 2024-076 2025-036 2025-037 Kuaiyidia under the service management price e 2025 November 25 2025 2025-040 2025-077 2025-078 and 2025- n Electric same s services 082.Service controlling 1 22Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Co. Ltd. shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Provisi 2025-040 2025-077 2025-078 and 2025- Labor services Spot December 12 2024 December 28 Aoku same on of Market 082. 88 technical services 4.64 4.64 0.05% 4500 No exchang - 2024 May 24 2025 November 6 Technolog controlling service price etc. e 2025 November 25 2025 y Co. Ltd. shareholde s r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Changhon under the Provisi 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 g same on of Maintenance Market 082. 89 3.20 3.20 0.04% 4500 No exchang - 2024 May 24 2025 November 6 Internation controlling service services price e 2025 November 25 2025 al Hotel shareholde s Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) Changhon enterprise Announcement No.: 2024-067 2024-068 g control 2024-069 2024-076 2025-036 2025-037 Internation under the Provisi 2025-040 2025-077 2025-078 and 2025- Property Spot December 12 2024 December 28 al same on of Market 082. 90 management 24.32 24.32 0.29% 10000 No exchang - 2024 May 24 2025 November 6 Holdings controlling service price services e 2025 November 25 2025 (Hong shareholde s Kong) r and Co. Ltd. ultimate controller 91 Sichuan Other Provisi Packaging Market 0.52 0.52 0.01% 10000 No Spot - December 12 2024 December 28 Juchao Website (www.cninfo.com.cn) Changhon enterprise on of exchang 2024 May 24 2025 November 6 Announcement No.: 2024-067 2024-068 1 23Changhong Meiling Co. Ltd. 2025 Annual Report Full Text g control service services price e 2025 November 25 2025 2024-069 2024-076 2025-036 2025-037 Electronic under the s 2025-040 2025-077 2025-078 and 2025- Products same 082.Co. Ltd. controlling shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Changhon under the Provisi 2025-040 2025-077 2025-078 and 2025- g Spot December 12 2024 December 28 same on of Maintenance Market 082. 92 Precision 1.28 1.28 0.02% 10000 No exchang - 2024 May 24 2025 November 6 controlling service services price Electronic e 2025 November 25 2025 shareholde s Technolog r and y Co. Ltd.ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Yuanxin under the Provisi 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Financial same on of Installation Market 082. 93 -0.60 -0.60 -0.01% 10000 No exchang - 2024 May 24 2025 November 6 Leasing controlling service services price e 2025 November 25 2025 Co. Ltd. shareholde s r and ultimate controller Other Juchao Website (www.cninfo.com.cn) Sichuan enterprise Announcement No.: 2024-067 2024-068 control Provisi Technical Changhon Spot December 12 2024 December 28 2024-069 2024-076 2025-036 2025-037 under the on of services Market 94 g Property 27.54 27.54 0.33% 4500 No exchang - 2024 May 24 2025 November 6 2025-040 2025-077 2025-078 and 2025- same service maintenance price Service e 2025 November 25 2025 082.controlling s services Co. Ltd.shareholde r and 1 24Changhong Meiling Co. Ltd. 2025 Annual Report Full Text ultimate controller Other Juchao Website (www.cninfo.com.cn) Sichuan enterprise Announcement No.: 2024-067 2024-068 Changhon control 2024-069 2024-076 2025-036 2025-037 g under the Provisi 2025-040 2025-077 2025-078 and 2025- Installation Spot December 12 2024 December 28 Jiechuang same on of Market 082. 95 services labor 11.90 11.90 0.14% 4500 No exchang - 2024 May 24 2025 November 6 Lithium controlling service price services e 2025 November 25 2025 Battery shareholde s Technolog r and y Co. Ltd. ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the Provisi 2025-040 2025-077 2025-078 and 2025- Changhon Spot December 12 2024 December 28 same on of Market 082. 96 g Hongwei Labor services 0.14 0.14 0.00% 10000 No exchang - 2024 May 24 2025 November 6 controlling service price Technolog e 2025 November 25 2025 shareholde s y Co. Ltd.r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Changhon under the Provisi 2025-040 2025-077 2025-078 and 2025- Air conditioning Spot December 12 2024 December 28 g same on of Market 082. 97 maintenance 0.78 0.78 0.01% 4500 No exchang - 2024 May 24 2025 November 6 Education controlling service price services e 2025 November 25 2025 Technolog shareholde s y Co. Ltd. r and ultimate controller Other Sichuan Spot December 12 2024 December 28 Juchao Website (www.cninfo.com.cn) 98 enterprise Leasin Market Aichuang Warehouses 0.96 0.96 0.01% 4500 No exchang - 2024 May 24 2025 November 6 Announcement No.: 2024-067 2024-068 control g price 2024-069 2024-076 2025-036 2025-037 Technolog e 2025 November 25 2025 under the 2025-040 2025-077 2025-078 and 2025- 1 25Changhong Meiling Co. Ltd. 2025 Annual Report Full Text y Co. Ltd. same 082.controlling shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Aoku same Leasin Market 082. 99 Warehouses 0.38 0.38 0.00% 4500 No exchang - 2024 May 24 2025 November 6 Technolog controlling g price e 2025 November 25 2025 y Co. Ltd. shareholde r and ultimate controller Controllin Juchao Website (www.cninfo.com.cn) Sichuan g Announcement No.: 2024-067 2024-068 Leasing of Spot December 12 2024 December 28 Changhon Sharehold Leasin Market 2024-069 2024-076 2025-036 2025-037 100 factories and 85.31 85.31 0.96% 5200 No exchang - 2024 May 24 2025 November 6 g Electric er and g price 2025-040 2025-077 2025-078 and 2025- equipment e 2025 November 25 2025 Co. Ltd. Ultimate 082.Controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Changhon under the 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 g same Leasin Market 082. 101 Warehouses 0.06 0.06 0.00% 5200 No exchang - 2024 May 24 2025 November 6 Electronic controlling g price e 2025 November 25 2025 Products shareholde Co. Ltd. r and ultimate controller Sichuan Other Spot December 12 2024 December 28 Juchao Website (www.cninfo.com.cn) Changhon enterprise Leasin Leasing of Market 102 722.82 722.82 8.15% 5200 No exchang - 2024 May 24 2025 November 6 Announcement No.: 2024-067 2024-068 apartments g Jijia control g price factories and e 2025 November 25 2025 2024-0692024-0762025-0362025-037 Fine Co. under the 2025-040 2025-077 2025-078 and 2025- 1 26Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Ltd. same equipment 082.controlling shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Changhon under the 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 g same Leasin Leasing of Market 082. 103 0.65 0.65 0.01% 4500 No exchang - 2024 May 24 2025 November 6 Education controlling g factories price e 2025 November 25 2025 Technolog shareholde y Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Changhon under the 2025-040 2025-077 2025-078 and 2025- g Spot December 12 2024 December 28 same Leasin Leasing of Market 082. 104 Precision 158.14 158.14 1.78% 5200 No exchang - 2024 May 24 2025 November 6 controlling g factories price Electronic e 2025 November 25 2025 shareholde Technolog r and y Co. Ltd.ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Changhon under the Leasing of 2025-040 2025-077 2025-078 and 2025- g Spot December 12 2024 December 28 same Leasin factories Market 082. 105 Kuaiyidia 50.02 50.02 0.56% 5200 No exchang - 2024 May 24 2025 November 6 controlling g apartments and price n Electric e 2025 November 25 2025 shareholde offices Service r and Co. Ltd.ultimate controller 1 27Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Leasing of Changhon under the 2025-040 2025-077 2025-078 and 2025- apartments Spot December 12 2024 December 28 g same Leasin Market 082. 106 offices factories 77.21 77.21 0.87% 5200 No exchang - 2024 May 24 2025 November 6 Minsheng controlling g price and part of office e 2025 November 25 2025 Logistics shareholde buildings Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Sichuan control 2024-069 2024-076 2025-036 2025-037 Leasing of Changhon under the 2025-040 2025-077 2025-078 and 2025- apartments Spot December 12 2024 December 28 g Mold same Leasin Market 082. 107 factories 1890.51 1890.51 21.31% 5200 No exchang - 2024 May 24 2025 November 6 Plastic controlling g price equipment and e 2025 November 25 2025 Tech. Co. shareholde offices Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the 2025-040 2025-077 2025-078 and 2025- Changhon Spot December 12 2024 December 28 same Leasin Leasing of Market 082. 108 g Device 2.01 2.01 0.02% 5200 No exchang - 2024 May 24 2025 November 6 controlling g factories price Technolog e 2025 November 25 2025 shareholde y Co. Ltd.r and ultimate controller Sichuan Other Juchao Website (www.cninfo.com.cn) Zhiyijia enterprise Spot December 12 2024 December 28 Announcement No.: 2024-067 2024-068 Leasin Leasing of Market 109 Network control 16.84 16.84 0.19% 5200 No exchang - 2024 May 24 2025 November 6 2024-069 2024-076 2025-036 2025-037 Technolog under the g apartments price e 2025 November 25 2025 2025-040 2025-077 2025-078 and 2025- y Co. Ltd. same 082.controlling 1 28Changhong Meiling Co. Ltd. 2025 Annual Report Full Text shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Chengdu control 2024-069 2024-076 2025-036 2025-037 Changhon under the 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 g same Lease- Market 082. 110 Leasing of offices 22.34 22.34 0.25% 5200 No exchang - 2024 May 24 2025 November 6 Electronic controlling in price e 2025 November 25 2025 Technolog shareholde y Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Chengdu control 2024-069 2024-076 2025-036 2025-037 Changhon under the 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 g same Lease- Leasing of Market 082. 111 1203.19 1203.19 13.56% 5200 No exchang - 2024 May 24 2025 November 6 Minsheng controlling in factories price e 2025 November 25 2025 Logistics shareholde Co. Ltd. r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Guangdon control 2024-069 2024-076 2025-036 2025-037 g under the 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Changhon same Lease- Leasing of staff Market 082. 112 1.88 1.88 0.02% 5200 No exchang - 2024 May 24 2025 November 6 g controlling in dormitories price e 2025 November 25 2025 Electronic shareholde s Co. Ltd. r and ultimate controller 113 Sichuan Other Lease- Leasing of staff Market 18.30 18.30 0.21% 5000 No Spot - December 12 2024 December 28 Juchao Website (www.cninfo.com.cn) Huafeng enterprise exchang 2024 May 24 2025 November 6 Announcement No.: 2024-067 2024-068 1 29Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Technolog control in dormitories price e 2025 November 25 2025 2024-069 2024-076 2025-036 2025-037 y Co. Ltd. under the 2025-040 2025-077 2025-078 and 2025- same 082.controlling shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Jiahong same Lease- Leasing of staff Market 082. 114 52.03 52.03 0.59% 5000 No exchang - 2024 May 24 2025 November 6 Industrial controlling in dormitories price e 2025 November 25 2025 Co. Ltd. shareholde r and ultimate controller Controllin Juchao Website (www.cninfo.com.cn) Sichuan g Announcement No.: 2024-067 2024-068 Spot December 12 2024 December 28 Changhon Sharehold Lease- Leasing of Market 2024-069 2024-076 2025-036 2025-037 115 416.71 416.71 4.70% 5200 No exchang - 2024 May 24 2025 November 6 g Electric er and in factories price 2025-040 2025-077 2025-078 and 2025- e 2025 November 25 2025 Co. Ltd. Ultimate 082.Controller Sichuan Juchao Website (www.cninfo.com.cn) Controllin Changhon Announcement No.: 2024-067 2024-068 g g Leasing of retail Spot December 12 2024 December 28 2024-069 2024-076 2025-036 2025-037 Sharehold Lease- Market 116 Electronic outlets and staff 19.90 19.90 0.22% 350000 No exchang - 2024 May 24 2025 November 6 2025-040 2025-077 2025-078 and 2025- er and in price s Holding dormitories e 2025 November 25 2025 082.Ultimate Group Controller Co. Ltd.Other Juchao Website (www.cninfo.com.cn) Sichuan enterprise Spot December 12 2024 December 28 Zhiyijia Lease- Market Announcement No.: 2024-067 2024-068 117 control Leasing of offices 2.16 2.16 0.02% 5200 No exchang - 2024 May 24 2025 November 6 2024-069 2024-076 2025-036 2025-037 Network in price under the e 2025 November 25 2025 2025-040 2025-077 2025-078 and 2025- Technolog same 1 30Changhong Meiling Co. Ltd. 2025 Annual Report Full Text y Co. Ltd. controlling 082.shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Changhon under the 2025-040 2025-077 2025-078 and 2025- g Huayi Spot December 12 2024 December 28 same Lease- Leasing of staff Market 082. 118 Compress 5.44 5.44 0.06% 80000 No exchang - 2024 May 24 2025 November 6 controlling in dormitories price or Co. e 2025 November 25 2025 shareholde Ltd.r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Acquis Announcement No.: 2024-067 2024-068 control ition 2024-069 2024-076 2025-036 2025-037 Sichuan under the and 2025-040 2025-077 2025-078 and 2025- Changhon Spot December 12 2024 December 28 same constr Production line Market 082. 119 g Hongwei 26.55 26.55 0.05% 600 No exchang - 2024 May 24 2025 November 6 controlling uction transformation price Technolog e 2025 November 25 2025 shareholde of y Co. Ltd.r and fixed ultimate assets controller Other Juchao Website (www.cninfo.com.cn) Sichuan enterprise Acquis Announcement No.: 2024-067 2024-068 Changhon control ition 2024-069 2024-076 2025-036 2025-037 g under the and 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Intelligent same constr Production line Market 082. 120 455.30 455.30 0.81% 5000 No exchang - 2024 May 24 2025 November 6 Manufactu controlling uction transformation price e 2025 November 25 2025 ring shareholde of Technolog r and fixed y Co. Ltd. ultimate assets controller 1 31Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Other Juchao Website (www.cninfo.com.cn) enterprise Acquis Announcement No.: 2024-067 2024-068 control ition 2024-069 2024-076 2025-036 2025-037 Sichuan under the and Data center large 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Hongxin same constr screens platform Market 082. 121 125.58 125.58 0.22% 600 No exchang - 2024 May 24 2025 November 6 Software controlling uction construction price e 2025 November 25 2025 Co. Ltd. shareholde of system upgrades r and fixed ultimate assets controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Purcha Sichuan under the 2025-040 2025-077 2025-078 and 2025- se of Information Spot December 12 2024 December 28 Hongxin same Market 082. 122 intangi management 188.41 188.41 0.33% 600 No exchang - 2024 May 24 2025 November 6 Software controlling price ble systems e 2025 November 25 2025 Co. Ltd. shareholde assets r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Acquis Announcement No.: 2024-067 2024-068 control ition 2024-069 2024-076 2025-036 2025-037 Sichuan under the and 2025-040 2025-077 2025-078 and 2025- Changhon Spot December 12 2024 December 28 same constr Steel platforms in Market 082. 123 g Xinwang 1.71 1.71 0.00% 600 No exchang - 2024 May 24 2025 November 6 controlling uction evaporator areas price Technolog e 2025 November 25 2025 shareholde of y Co. Ltd.r and fixed ultimate assets controller Sichuan Other Juchao Website (www.cninfo.com.cn) Zhiyijia enterprise Purcha Spot December 12 2024 December 28 Announcement No.: 2024-067 2024-068 control se of Market 124 Network Televisions 3.50 3.50 0.01% 600 No exchang - 2024 May 24 2025 November 6 2024-069 2024-076 2025-036 2025-037 Technolog under the fixed price e 2025 November 25 2025 2025-040 2025-077 2025-078 and 2025- same assets y Co. Ltd. 082.controlling 1 32Changhong Meiling Co. Ltd. 2025 Annual Report Full Text shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 Guangdon control 2024-069 2024-076 2025-036 2025-037 g under the Purcha LED complete 2025-040 2025-077 2025-078 and 2025- Spot December 12 2024 December 28 Changhon same se of machine kits 98- Market 082. 125 0.40 0.40 0.00% 600 No exchang - 2024 May 24 2025 November 6 g controlling fixed inch display price e 2025 November 25 2025 Electronic shareholde assets screens s Co. Ltd. r and ultimate controller Other Bank Juchao Website (www.cninfo.com.cn) enterprise Acquis acceptan Announcement No.: 2024-067 2024-068 Sichuan control ition ce 2024-069 2024-076 2025-036 2025-037 Changhon under the and settleme 2025-040 2025-077 2025-078 and 2025- AD tools NX December 12 2024 December 28 g Jiahua same constr Market nt spot 082. 126 tools PLM 737.43 737.43 1.31% 600 Yes - 2024 May 24 2025 November 6 Informatio controlling uction price foreign systems 2025 November 25 2025 n Products shareholde of exchang Co. Ltd. r and fixed e ultimate assets settleme controller nt Sichuan Juchao Website (www.cninfo.com.cn) Controllin Changhon Purcha Announcement No.: 2024-067 2024-068 g g se of New plant Spot December 12 2024 December 28 2024-069 2024-076 2025-036 2025-037 Sharehold Market 127 Electronic intangi construction 47.92 47.92 0.08% 5000 No exchang - 2024 May 24 2025 November 6 2025-040 2025-077 2025-078 and 2025- er and price s Holding ble projects e 2025 November 25 2025 082.Ultimate Group assets Controller Co. Ltd.Sichuan Controllin Purcha Juchao Website (www.cninfo.com.cn) g Spot December 12 2024 December 28 Changhon se of Power distribution Market Announcement No.: 2024-067 2024-068 128 Sharehold 2.86 2.86 0.01% 600 No exchang - 2024 May 24 2025 November 6 g Electric fixed cabinets price 2024-069 2024-076 2025-036 2025-037 Co. Ltd. er and e 2025 November 25 2025 assets 2025-040 2025-077 2025-078 and 2025- Ultimate 1 33Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Controller 082.Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Sichuan under the 2025-040 2025-077 2025-078 and 2025- Sale of Spot December 12 2024 December 28 Aichuang same Market 082. 129 fixed Production lines 66.30 66.30 15% 4500 No exchang - 2024 May 24 2025 November 6 Technolog controlling price assets e 2025 November 25 2025 y Co. Ltd. shareholde r and ultimate controller Other Juchao Website (www.cninfo.com.cn) enterprise Announcement No.: 2024-067 2024-068 control 2024-069 2024-076 2025-036 2025-037 Yuanxin under the 2025-040 2025-077 2025-078 and 2025- Yuanx Spot December 12 2024 December 28 Financial same Factoring Market 082. 130 in 328283.07 328283.07 500000 No exchang - 2024 May 24 2025 November 6 Leasing controlling business etc. price leasing e 2025 November 25 2025 Co. Ltd. shareholde r and ultimate controller 2657770. Total -- -- 1909268.0 -- -- -- -- -- -- 00 1 Detailed information on significant sales returns N/A Where the total amount of routine related party transactions expected to occur during the period is 1. It is estimated that in 2025 the amount of related party transactions for the Company to purchase goods fuel and power etc. from Sichuan Changhong and its estimated by category the actual performance during subsidiaries will not exceed RMB 3080 million (excluding tax). The actual amount incurred during the reporting period was RMB 2050.3474 million.the reporting period (if any) 2. It is estimated that in 2025 the amount of related party transactions for the Company to procure compressors from Changhong Huayi and its subsidiaries sell goods and receive or provide services will not exceed RMB 802.20 million (excluding tax). The actual amount incurred during the reporting period was RMB 515.2450 million. 3. It is estimated that in 2025 the amount of related party transactions for the Company to purchase or sell equipment software spare parts molds etc. from or to 1 34Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Sichuan Changhong and its subsidiaries will not exceed RMB 6 million (excluding tax). The actual amount incurred during the reporting period was RMB 10.8644 million. Although the actual amount incurred during the reporting period was RMB 10.8644 million the total actual amount of routine related party transactions between the Company and Sichuan Changhong and its subsidiaries did not exceed the estimated total amount which complies with Article 25 of the Self-Regulatory Guidelines No. 7 of the Shenzhen Stock Exchange for Listed Companies — Transactions and Related Party Transactions. 4. It is estimated that in 2025 the amount of related party transactions for the Company to sell goods and provide fuel and power to Sichuan Changhong and its subsidiaries will not exceed RMB 11912.50 million (excluding tax). The actual amount incurred during the reporting period was RMB 8819.1212 million. 5. It is estimated that in 2025 the amount of related party transactions for leasing and lease-in business between the Company and Sichuan Changhong and its subsidiaries will not exceed RMB 52 million (excluding tax). The actual amount incurred during the reporting period was RMB 46.4920 million. 6. It is estimated that in 2025 the amount of related party transactions for the Company to outsource domestic finished goods logistics business to Sichuan Changhong Minsheng Logistics Co. Ltd. will not exceed RMB 850 million (excluding tax). The actual amount incurred during the reporting period was RMB 814.8680 million. 7. It is estimated that in 2025 the amount of related party transactions for the Company to outsource domestic product after-sales services to Sichuan Kuaiyidian Electrical Appliance Service Chain Co. Ltd. will not exceed RMB 510 million. The actual amount incurred during the reporting period was RMB 394.0593 million. 8. It is estimated that in 2025 the amount of related party transactions for the Company to receive other services and labor from Sichuan Changhong and its subsidiaries and other related parties or to provide other services and labor to the aforesaid related parties will not exceed RMB 165 million (excluding tax). The actual amount incurred during the reporting period was RMB 143.4342 million. 9. It is estimated that in 2025 the amount of related party transactions for the Company to sell goods and equipment to Sichuan Changhong Electronics Holding Group Co. Ltd. and its subsidiaries provide technical services provide fuel and power and lease out assets etc. will not exceed RMB 130 million (excluding tax). The actual amount incurred during the reporting period was RMB 20.2823 million. 10. It is estimated that in 2025 the amount of related party transactions for the Company to purchase goods and raw materials from Sichuan Changhong Electronics Holding Group Co. Ltd. and its subsidiaries receive labor services purchase fuel and power lease in assets and procure equipment etc. will not exceed RMB 4070 million (excluding tax). The actual amount incurred during the reporting period was RMB 2995.1356 million. 11. It is estimated that in 2025 the amount of related party transactions for the Company to receive financial leasing commercial factoring and bill financing services from Yuanxin Financial Leasing Co. Ltd. will not exceed RMB 5000 million. The actual amount incurred during the reporting period was RMB 3282.8307 million.Reasons for significant differences between transaction N/A prices and market reference prices (if applicable) 1 35Changhong Meiling Co. Ltd. 2025 Annual Report Full Text (II) Related party transactions arising from asset or equity acquisitions and disposals □ Applicable √ Not applicable No related party transactions involving asset or equity acquisitions or disposals occurred during the reporting period.(III) Related party transactions involving joint external investments □ Applicable √ Not applicable No related party transactions involving joint external investments occurred during the reporting period.(IV) Related party creditor’s rights and debts √ Applicable □ Not applicable Whether there are non-operating related party creditor’s rights and debts □ Yes √ No There were no non-operating related party creditor’s rights and debts during the reporting period.(V) Transactions with financial companies with related party relationships √ Applicable □ Not applicable Deposit business Amounts incurred during the period Maximum daily Beginning Range of deposit Total Ending balance Related party Relationship deposit limit balance (RMB Total deposits interest rates withdrawals (RMB 10000) (RMB 10000) 10000) during the during the current period current period (RMB 10000) (RMB 10000) Sichuan Other enterprise Changhong control under the Group same controlling 450000.00 0.3%-2.4% 447850.81 9558524.41 9584679.24 421695.98 Finance Co. shareholder and Ltd. ultimate controller Credit facilities or other financial services Total amount (RMB Actual amount incurred Related party Relationship Type of business 10000) (RMB 10000) Sichuan Changhong Group Other enterprise control Other financial services – 300000.00 88547.00 1 36Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Finance Co. Ltd. under the same controlling bill issuance shareholder and ultimate controller Other enterprise control Sichuan Changhong Group under the same controlling Other financial services – 300000.0040984.06 Finance Co. Ltd. shareholder and ultimate bill discounting controller Other enterprise control Other financial services – Sichuan Changhong Group under the same controlling issuance of letters of 100000.00 97.72 Finance Co. Ltd. shareholder and ultimate guarantee controller Note 1: Zhongke Meiling a subsidiary of the Company is a company listed on the Beijing Stock Exchange. For its transactions with related financial companies please refer to Zhongke Meiling’s 2025 Annual Report.Note 2: As of the end of the reporting period Changhong Finance Company had a registered capital of RMB 2693938365.84. The Company and Changhong Huayi each held 14.96% equity interests in Changhong Finance Company while the Company’s controlling shareholder Sichuan Changhong Electric Co. Ltd. and its controlling shareholder Sichuan Changhong Electronics Holding Group Co. Ltd. each held 35.04% equity interests in Changhong Finance Company.Note 3: On October 16 and November 3 2023 the Company convened the 35th meeting of the 10th Board of Directors and the 2nd extraordinary general meeting of shareholders of 2023 respectively and approved the continuation of financial service cooperation with Changhong Finance Company and the renewal of the Financial Services Agreement for a term of three years.Within its business scope Changhong Finance Company provides a series of financial services including deposit and loan services to the Company and its subsidiaries (excluding Zhongke Meiling and its subsidiaries) in accordance with their requirements.(VI) Transactions between the Company’s controlled financial company and related parties □ Applicable √ Not applicable There were no deposit loan credit or other financial service transactions between the Company’s controlled financial company and related parties.(VII) Other significant related party transactions √ Applicable □ Not applicable 1. On May 23 2025 upon deliberation and approval at the 16th meeting of the 11th Board of Directors and the 10th meeting of the 11th Board of Supervisors it was agreed to increase the estimated amount of routine related party transactions for the Company to sell goods to Sichuan Changhong in 2025 by no more than RMB 12.5 million (excluding tax). After this increase it is 1 37Changhong Meiling Co. Ltd. 2025 Annual Report Full Text estimated that the total amount of routine related party transactions between the Company and its subsidiaries and Sichuan Changhong in 2025 for the sale of goods and provision of fuel and power will not exceed RMB 17.5 million (excluding tax). 2. On May 23 2025 upon deliberation and approval at the 16th meeting of the 11th Board of Directors and the 10th meeting of the 11th Board of Supervisors in accordance with the Company’s strategic development plan and the operational needs of its subsidiary Zhongshan Changhong and in order to meet the production capacity demand for overseas air-conditioning sales the Board of Directors approved that Zhongshan Changhong invest approximately RMB 296.42 million of self-raised funds to construct an air-conditioning project with an annual output of 4 million units per single shift (hereinafter referred to as the “Air-Conditioning Project”). To meet the site requirements for the implementation of the Zhongshan Changhong Air Conditioner Project following on-site investigation repeated demonstration and evaluation and with the support of the Company’s controlling shareholder Zhongshan Changhong intends to enter into an Industrial Plant Lease Intention Agreement with Guangdong Changhong Electronics Co. Ltd.(hereinafter referred to as “Guangdong Changhong”) a subsidiary of Sichuan Changhong.Guangdong Changhong will construct new plant facilities to be leased by Zhongshan Changhong for the implementation of the Air-Conditioning Project. The intended lease term is five years (from January 1 2027 to December 31 2031). Upon expiration of the lease term both parties will negotiate subsequent leasing arrangements. The lease price shall be determined with reference to market prices. The preliminary intended monthly rent is set at RMB 20 per square meter (excluding tax inclusive of rent and security fees etc.). Based on this the total rent for 5 years is estimated not to exceed RMB 212.30 million. The actual amount will be determined based on market conditions after completion of the plant. 3. On November 5 and November 24 2025 upon deliberation and approval at the 23rd meeting of the 11th Board of Directors and the 2nd extraordinary meeting of Board of Shareholders of 2025 it was agreed to increase the estimated related party transaction limits for 2025 as follows: transactions for the Company and its subsidiaries to purchase goods from Sichuan Aichuang Technology Co. Ltd. shall not exceed RMB 140 million (excluding tax); transactions to purchase goods from Sichuan Changhong Jijia Fine Co. Ltd. shall not exceed RMB 50 million (excluding tax); transactions to sell goods to CHANGHONG (HK) TRADING LIMITED shall not exceed RMB 195 million (excluding tax); and transactions involving leasing and lease-in with Sichuan Changhong Electric Co. Ltd. and its subsidiaries shall not exceed RMB 12 million (excluding tax). After this increase it is estimated that in 2025 the total amount of routine related-party transactions between the Company and its subsidiaries and Changhong Group and its subsidiaries (excluding Sichuan Changhong Electric Co. Ltd.) will not exceed RMB 4200 million and the total amount of routine related party transactions with Sichuan Changhong and its subsidiaries (excluding Changhong Huayi Compressor Co. Ltd.) will not 1 38Changhong Meiling Co. Ltd. 2025 Annual Report Full Text exceed RMB 21575.50 million. 4. On November 28 and December 16 2025 upon deliberation and approval at the 24th meeting of the 11th Board of Directors and the 3rd extraordinary meeting of Board of Shareholders of 2025 it was agreed that the total amount of routine related party transactions between the Company and its subsidiaries and related parties in 2026 shall not exceed RMB 27514 million (excluding tax); it was also agreed that the Company will continue to carry out related party financial service transactions such as deposits and loans with Sichuan Changhong Group Finance Co. Ltd. in 2026. 5. On December 19 2025 upon deliberation and approval at the 25th meeting of the 11th Board of Directors it was agreed to extend the operating term of Sichuan Hongyun New Generation Information Technology Venture Capital Fund Partnership Enterprise (Limited Partnership) (hereinafter referred to as the “Hongyun Fund”) by one year bringing the cumulative operating term to 11 years (i.e. extended to October 18 2026) and to execute the Amendment to the Partnership Agreement of Sichuan Hongyun New Generation Information Technology Venture Capital Fund Partnership Enterprise (Limited Partnership) to revise the operating term of the Hongyun Fund.Relevant inquiry on websites for disclosure of interim reports on significant related party transactions Date of disclosure of interim Name of website for disclosure of Title of interim announcement announcement interim announcement Announcement on Resolutions of the 16th Meeting of the 11th Board of Directors (2025-036) Announcement on Resolutions of the 10th Meeting of the 11th Board of May 24 2025 Juchao Website: www.cninfo.com.cn Supervisors (2025-037) Announcement on Signing the Industrial Plant Lease Intention Agreement by a Subsidiary and Related Party Transaction (2025-039) Announcement on Resolutions of the 16th Meeting of the 11th Board of Directors (2025-036) Announcement on Resolutions of the 10th Meeting of the 11th Board of May 24 2025 Juchao Website: www.cninfo.com.cn Supervisors (2025-037) Announcement on Increasing the Estimated Amount of Daily Related Party Transactions for 2025 (2025-040) Announcement on Resolutions of the 23rd Meeting of the 11th Board of Directors (2025-077) November 6 2025 Announcement on Increasing the Juchao Website: www.cninfo.com.cn November 25 2025 Estimated Amount of Daily Related Party Transactions for 2025 (2025-078) Announcement on Resolutions of the 2nd 1 39Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Extraordinary Meeting of Board of Shareholders of 2025 (2025-082) Announcement on Resolutions of the 24th Meeting of the 11th Board of Directors (2025-083) Announcement on Estimated Daily Related Party Transactions for 2026 (2025-85) November 28 2025 Announcement on the Estimated Juchao Website: www.cninfo.com.cn December 16 2025 Continuing Related Party Transactions with Sichuan Changhong Group Finance Co. Ltd. in 2026 (2026-86) Announcement on Resolutions of the 3rd Extraordinary Meeting of Board of Shareholders of 2025 (2025-095) Announcement on Resolutions of the 25th Meeting of the 11th Board of Directors (2025-096) Announcement on the Extension of the Operating Term of Sichuan Hongyun December 20 2025 Juchao Website: www.cninfo.com.cn New Generation Information Technology Venture Capital Fund Partnership Enterprise (Limited Partnership) and Related Party Transaction (2025-098) XV. Significant Contracts and Their Performance (I) Custody contracting and leasing 1. Custody □ Applicable √ Not applicable The Company had no custody arrangements during the reporting period. 2. Contracting □ Applicable √ Not applicable The Company had no contracting arrangements during the reporting period. 3. Leasing √ Applicable □ Not applicable Description of leasing arrangements For the Company’s operating lease arrangements please refer to the relevant contents under “Investment Property” “Fixed Assets” “Right-of-Use Assets” “Leases to Related Parties” and “Leases from Related Parties” in the notes to the financial statements.Projects generating profit or loss accounting for more than 10% of the Company’s total profit during the reporting period □ Applicable √ Not applicable 1 40Changhong Meiling Co. Ltd. 2025 Annual Report Full Text The Company had no leasing projects generating profit or loss accounting for more than 10% of its total profit during the reporting period. 1 41Changhong Meiling Co. Ltd. 2025 Annual Report Full Text (II) Significant guarantees √ Applicable □ Not applicable Unit: RMB 10000 External guarantees provided by the Company and its subsidiaries (excluding guarantees provided to subsidiaries) Whether it is a Name of the Date of disclosure of Actual Collater Counter- Whether Guarantee Actual occurrence Type of Guarante guarantee guaranteed announcements related to the guarantee al (if guarantee performe limit date guarantee e period for a party guarantee limit amount any) (if any) d related party ——————————— Total actual external Total approved external guarantee limit during the guarantee amount 00 reporting period (A1) incurred during the reporting period (A2) Total actual external Total approved external guarantee limit at the end guarantee balance at the 00 of the reporting period (A3) end of the reporting period (A4) Guarantees provided by the Company to its subsidiaries Whether it is a Name of the Date of disclosure of Actual Collater Counter- Whether Guarantee Actual occurrence Type of Guarante guarantee guaranteed announcements related to the guarantee al (if guarantee performe limit date guarantee e period for a party guarantee limit amount any) (if any) d related party Changhong Announcements No. 2023-066 Joint and Meiling Ridian 2023-067 2023-070 and 2023- several 10.4 14500.00 March 19 2024 3500.00 Yes Yes No Technology 080 dated December 5 and liability months Co. Ltd. December 22 2023. guarantee Sichuan Announcements No. 2024-020 Joint and Changhong Air 2024-021 2024-023 and 2024- several 6.4 60000.00 September 27 2024 60000.00 Yes Yes No Conditioner 036 dated April 20 and June 19 liability months Co. Ltd. 2024. guarantee 1 42Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Announcements No. 2024-067 2024-068 2024-071 and 2024- 61800.00------- 076 dated December 12 and December 28 2024.Jiangxi Meiling Announcements No. 2024-067 Electric 2024-068 2024-071 and 2024- 10000.00------- Appliance Co. 076 dated December 12 and Ltd. December 28 2024.Announcements No. 2023-066 Joint and 2023-067 2023-070 and 2023- several 25000.00 November 6 2024 20000.00 Yes 1 year Yes No 080 dated December 5 and liability December 22 2023. guarantee Joint and several June 20 2025 40000.00 Yes 1 year No No liability guarantee Hefei Meiling Announcements No. 2024-067 Joint and Group 2024-068 2024-071 and 2024- several 70000.00 August 6 2025 10000.00 Yes 1 year No No Holdings 076 dated December 12 and liability Limited December 28 2024. guarantee Joint and several August 11 2025 20000.00 Yes 1 year No No liability guarantee Announcements No. 2025-083 2025-087 and 2025-095 dated 100000.00------- November 29 and December 17 2025. Announcements No. 2022-087 Joint and 2022-088 2022-091 and 2022- several Hefei 35000.00 December 1 2023 10000.00 Yes 1 year Yes No 100 dated December 7 and liability Changhong December 23 2022. guarantee Meiling Life Appliances Announcements No. 2023-066 Joint and Co. Ltd. 2023-067 2023-070 and 2023- several 50000.00 March 26 2024 8000.00 Yes 1 year Yes No 080 dated December 5 and liability December 22 2023. guarantee 1 43Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Announcements No. 2024-067 2024-068 2024-071 and 2024- 20000.00------- 076 dated December 12 and December 28 2024.Joint and several 11 April 23 2025 3000.00 Yes No No liability months guarantee Joint and 3514.40 several May 26 2025 Yes 1 year No No (Note) liability guarantee Announcements No. 2024-067 Joint and 2024-068 2024-071 and 2024- several 40000.00 May 28 2025 5000.00 Yes 1 year No No Hefei 076 dated December 12 and liability Changhong December 28 2024. guarantee Industrial Co. Joint and Ltd. several 10 December 22 2025 3000.00 Yes No No liability months guarantee Joint and 5060.74 several December 23 2025 Yes 1 year No No (Note) liability guarantee Announcements No. 2025-083 2025-087 and 2025-095 dated 60000.00------- November 29 and December 17 2025. Mianyang Announcements No. 2025-083 Changhong 2025-087 and 2025-095 dated Smart Home 20000.00 - - - - - - - November 29 and December 17 Appliances 2025. Co. Ltd.Total actual guarantee Total approved guarantee limit for subsidiaries amount incurred for 180000.00191075.14 during the reporting period (B1) subsidiaries during the reporting period (B2) 1 44Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Total actual guarantee Total approved guarantee limit for subsidiaries at balance for subsidiaries at 290000.0089575.14 the end of the reporting period (B3) the end of the reporting period (B4) Guarantees provided by subsidiaries to their subsidiaries Whether it is a Name of the Date of disclosure of Actual Collater Counter- Whether Guarantee Actual occurrence Type of Guarante guarantee guaranteed announcements related to the guarantee al (if guarantee performe limit date guarantee e period for a party guarantee limit amount any) (if any) d related party Announcements No. 2022-087 Joint and 2022-088 2022-091 and 2022- several 8000.00 August 15 2023 400 Yes 1 year Yes No 100 dated December 7 and liability December 23 2022. guarantee Announcements No. 2023-066 Joint and 2023-067 2023-070 and 2023- several 11.5 5000.00 July 24 2024 1000.00 Yes Yes No 080 dated December 5 and liability months Anhui Tuoxing December 22 2023. guarantee Technology Co. Ltd. Announcements No. 2024-067 Joint and 2024-068 2024-071 and 2024- several 3000.00 February 14 2025 1000.00 Yes 1 year No No 076 dated December 12 and liability December 28 2024. guarantee Announcements No. 2025-083 2025-087 and 2025-095 dated 1000.00------- November 29 and December 17 2025. Announcements No. 2023-066 Joint and 2023-067 2023-070 and 2023- several 10000.00 October 31 2024 1000.00 Yes 1 year Yes No Anhui Ling’an 080 dated December 5 and liability Medical December 22 2023. guarantee Equipment Co. Announcements No. 2024-067 Joint and Ltd. 2024-068 2024-071 and 2024- several 5000.00 February 11 2025 1000.00 Yes 1 year No No 076 dated December 12 and liability December 28 2024. guarantee 1 45Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Announcements No. 2025-083 2025-087 and 2025-095 dated 2000.00------- November 29 and December 17 2025. Hongyuan Ground Energy Announcements No. 2024-067 Heat Pump 2024-068 2024-071 and 2024- 56500.00------- Technology 076 dated December 12 and (Zhongshan) December 28 2024.Co. Ltd.Total actual guarantee Total approved guarantee limit for subsidiaries amount incurred for 3000.004400.00 during the reporting period (C1) subsidiaries during the reporting period (C2) Total actual guarantee Total approved guarantee limit for subsidiaries at balance for subsidiaries at 11000.002000.00 the end of the reporting period (C3) the end of the reporting period (C4) Total guarantee amount of the Company (i.e. the sum of the above three categories) Total actual guarantee Total approved guarantee limit during the amount incurred during 183000.00195475.14 reporting period (A1+B1+C1) the reporting period (A2+B2+C2) Total actual guarantee Total approved guarantee limit at the end of the balance at the end of the 301000.0091575.14 reporting period (A3+B3+C3) reporting period (A4+B4+C4) Ratio of total guarantee balance (i.e. A4+B4+C4) to the Company’s net assets 15.05% Including: Balance of guarantees provided to shareholders actual controllers and their related parties 0 (D) Balance of debt guarantees provided directly or indirectly to guaranteed parties with an 89575.14 asset-liability ratio exceeding 70% (E) Amount of guarantees exceeding 50% of net assets (F) 0 Total amount of the above three guarantees (D+E+F) 89575.14 1 46Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Explanation of cases where guarantee liabilities occurred during the reporting period for guarantees not yet due or where there is evidence indicating the possibility of joint and None several repayment obligations (if any) Explanation of external guarantees provided in violation of prescribed procedures (if any) None Note: For the purpose of currency consolidation the exchange rate used herein is USD to RMB at 7.0288 as of December 31 2025.The above guaranteed parties are wholly-owned and controlled subsidiaries of the Company. These subsidiaries are operating normally with no overdue loan repayments and the guarantee risks are controllable. During the reporting period the Company and its subsidiaries did not provide any external guarantees; however there were guarantees provided by the Company to its subsidiaries and by subsidiaries to their respective subsidiaries.As of the end of the reporting period the total approved guarantee limit for guarantees provided by the Company to its subsidiaries and by subsidiaries to their subsidiaries amounted to RMB 1830.00 million; the total actual amount incurred was RMB 1954.7514 million; and the total actual guarantee balance was RMB 915.7514 million representing 15.05% of the Company’s net assets at the end of the latest reporting period.Explanation of guarantees provided in composite forms: N/A 1 47Changhong Meiling Co. Ltd. 2025 Annual Report Full Text (III) Entrusted cash asset management (1) Entrusted wealth management √ Applicable □ Not applicable Overview of entrusted wealth management during the reporting period Unit: RMB 10000 Balance of entrusted wealth management Amount overdue and not Product category Risk characteristics during the reporting recovered period High safety good Bank wealth management liquidity low risk 0 0 products prudent type Specific circumstances where the Company as a single principal entrusts financial institutions to conduct asset management or invests in high-risk entrusted wealth management products with lower safety and liquidity √ Applicable □ Not applicable Unit: RMB 10000 Actual Overvie Actual Type of recovery w of the Name of profit or entruste Type of profit matter entrusted Risk loss d of Amount (RMB Start End Investment direction of or loss and institutio charact during instituti produ 10000) date date funds during relevant n (or eristics the on (or cts the inquiry trustee) reportin trustee) reporting index (if g period period any) Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Januar Januar instruments. Derivative liquidity Co. Ltd. Bank with 70000 y 6 y 24 financial instruments 82.85 82.85 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Guangfa good ted Januar April instruments. Derivative Bank Co. liquidity Bank with 3000 y 7 15 financial instruments 12.28 12.28 —— Ltd. low floatin 2025 2025 include but are not limited Zhongsha risk g to credit products foreign n Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety China protec and derivative financial good Everbright ted Januar April instruments. Derivative liquidity Bank Co. Bank with 30000 y 14 14 financial instruments 165.00 165.00 —— low Ltd. Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options. 1 48Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Januar Januar instruments. Derivative liquidity Co. Ltd. Bank with 80000 y 15 y 22 financial instruments 36.82 36.82 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety China protec and derivative financial good Everbright ted Januar April instruments. Derivative liquidity Bank Co. Bank with 5000 y 15 15 financial instruments 27.50 27.50 —— low Ltd. Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Bank Co. ted Januar April instruments. Derivative liquidity Ltd. Bank with 5000 y 22 21 financial instruments 24.73 24.73 —— low Mianyang floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Januar Januar instruments. Derivative liquidity Co. Ltd. Bank with 20000 y 24 y 31 financial instruments 9.21 9.21 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Bohai good ted Januar April instruments. Derivative Bank Co. liquidity Bank with 10000 y 24 28 financial instruments 54.01 54.01 —— Ltd. low floatin 2025 2025 include but are not limited Chengdu risk g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Everbright good Febru ted Febru instruments. Derivative Bank Co. liquidity ary Bank with 5000 ary 1 financial instruments 7.39 7.39 —— Ltd. low 28 floatin 2025 include but are not limited Mianyang risk 2025 g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Febru Hangzhou ted Febru instruments. Derivative liquidity ary Co. Ltd. Bank with 80000 ary 7 financial instruments 100.82 100.82 —— low 27 Hefei floatin 2025 include but are not limited risk 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Shanghai High Princi Febru The principal of this product Febru Pudong safety pal- ary is invested in bank deposits Bank 20000 ary 8 21.17 21.17 —— Developm good protec 28 and derivative financial 2025 ent Bank liquidity ted 2025 instruments. Derivative 1 49Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Co. Ltd. low with financial instruments Mianyang risk floatin include but are not limited Branch prudent g to credit products foreign type return exchange and interest rate s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Febru Febru Hangzhou ted instruments. Derivative liquidity ary ary Co. Ltd. Bank with 70000 financial instruments 75.18 75.18 —— low 10 26 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits Bank of safety protec and derivative financial Communi good Febru ted May instruments. Derivative cations liquidity ary Bank with 10000 13 financial instruments 51.12 51.12 —— Co. Ltd. low 10 floatin 2025 include but are not limited Mianyang risk 2025 g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High China pal- is invested in bank deposits safety Constructi protec and derivative financial good Febru on Bank ted May instruments. Derivative liquidity ary Corporati Bank with 3000 20 financial instruments 7.44 7.44 —— low 14 on floatin 2025 include but are not limited risk 2025 Zhongsha g to credit products foreign prudent n Branch return exchange and interest rate type s options.Princi The principal of this product High Bank of pal- is invested in bank deposits safety Communi protec and derivative financial good Febru cations ted March instruments. Derivative liquidity ary Co. Ltd. Bank with 5000 28 financial instruments 9.21 9.21 —— low 24 Anhui floatin 2025 include but are not limited risk 2025 Provincial g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Everbright good ted March March instruments. Derivative Bank Co. liquidity Bank with 5000 1 31 financial instruments 8.45 8.45 —— Ltd. low floatin 2025 2025 include but are not limited Mianyang risk g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety China protec and derivative financial good Bohai ted March June instruments. Derivative liquidity Bank Co. Bank with 5000 3 4 financial instruments 23.46 23.46 —— low Ltd. Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.High Princi The principal of this product safety pal- is invested in bank deposits Industrial good protec and derivative financial March March Bank Co. liquidity ted instruments. Derivative Bank 3000 3 31 5.18 5.18 —— Ltd. Hefei low with financial instruments 20252025 Branch risk floatin include but are not limited prudent g to credit products foreign type return exchange and interest rate 1 50Changhong Meiling Co. Ltd. 2025 Annual Report Full Text s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted March March instruments. Derivative liquidity ent Bank Bank with 20000 4 31 financial instruments 32.26 32.26 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted March March instruments. Derivative liquidity Co. Ltd. Bank with 60000 5 26 financial instruments 86.30 86.30 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial Industrial good ted March March instruments. Derivative Bank Co. liquidity Bank with 5000 6 31 financial instruments 7.71 7.71 —— Ltd. Hefei low floatin 2025 2025 include but are not limited Branch risk g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial good Bank of ted March March instruments. Derivative liquidity China Bank with 10000 6 31 financial instruments 17.53 17.53 —— low Limited floatin 2025 2025 include but are not limited risk g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Everbright good ted March June instruments. Derivative Bank Co. liquidity Bank with 3000 6 6 financial instruments 15.98 15.98 —— Ltd. low floatin 2025 2025 include but are not limited Zhongsha risk g to credit products foreign n Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety China protec and derivative financial good Everbright ted March May instruments. Derivative liquidity Bank Co. Bank with 20000 7 7 financial instruments 73.39 73.39 —— low Ltd. Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety China protec and derivative financial good Guangfa ted March June instruments. Derivative liquidity Bank Co. Bank with 5000 7 5 financial instruments 27.74 27.74 —— low Ltd. Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options. 1 51Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Princi The principal of this product High pal- is invested in bank deposits Bank of safety protec and derivative financial Communi good ted March instruments. Derivative cations liquidity July 1 Bank with 5000 7 financial instruments 36.55 36.55 —— Co. Ltd. low 2025 floatin 2025 include but are not limited Zhongsha risk g to credit products foreign n Branch prudent return exchange and interest rate type s options.Princi The principal of this product China High pal- is invested in bank deposits CITIC safety protec and derivative financial Bank good ted March June instruments. Derivative Corporati liquidity Bank with 5000 20 18 financial instruments 26.87 26.87 —— on low floatin 2025 2025 include but are not limited Limited risk g to credit products foreign Chengdu prudent return exchange and interest rate Branch type s options.Industrial Princi The principal of this product and High pal- is invested in bank deposits Commerci safety protec and derivative financial al Bank of good ted March instruments. Derivative China liquidity July 1 Bank with 10000 28 financial instruments 26.74 26.74 —— Limited low 2025 floatin 2025 include but are not limited Mianyang risk g to credit products foreign High- prudent return exchange and interest rate Tech Sub- type s options.branch Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Merchants good ted April April instruments. Derivative Bank Co. liquidity Bank with 5000 1 30 financial instruments 8.47 8.47 —— Ltd. low floatin 2025 2025 include but are not limited Mianyang risk g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Guangfa good ted April instruments. Derivative Bank Co. liquidity July 1 Bank with 5000 1 financial instruments 27.75 27.75 —— Ltd. low 2025 floatin 2025 include but are not limited Chengdu risk g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted April April instruments. Derivative liquidity ent Bank Bank with 10000 1 30 financial instruments 19.38 19.38 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted April April instruments. Derivative liquidity ent Bank Bank with 10000 1 30 financial instruments 18.62 18.62 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options. 1 52Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial Industrial good ted April April instruments. Derivative Bank Co. liquidity Bank with 3000 1 30 financial instruments 5.36 5.36 —— Ltd. Hefei low floatin 2025 2025 include but are not limited Branch risk g to credit products foreign prudent return exchange and interest rate type s options.Industrial and Commerci Princi The principal of this product al Bank of High pal- is invested in bank deposits China safety protec and derivative financial Limited good ted April instruments. Derivative Mianyang liquidity July 3 Bank with 20000 2 financial instruments 47.22 47.22 —— High- low 2025 floatin 2025 include but are not limited Tech risk g to credit products foreign Industrial prudent return exchange and interest rate Developm type s options.ent Zone Sub- branch Industrial Princi The principal of this product and High pal- is invested in bank deposits Commerci safety protec and derivative financial al Bank of good ted April instruments. Derivative China liquidity July 7 Bank with 10000 2 financial instruments 23.19 23.19 —— Limited low 2025 floatin 2025 include but are not limited Mianyang risk g to credit products foreign High- prudent return exchange and interest rate Tech Sub- type s options.branch Industrial Princi The principal of this product and High pal- is invested in bank deposits Commerci safety protec and derivative financial al Bank of good ted April instruments. Derivative China liquidity July 7 Bank with 10000 2 financial instruments 23.19 23.19 —— Limited low 2025 floatin 2025 include but are not limited Mianyang risk g to credit products foreign High- prudent return exchange and interest rate Tech Sub- type s options.branch Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial Industrial good ted April April instruments. Derivative Bank Co. liquidity Bank with 5000 7 30 financial instruments 7.09 7.09 —— Ltd. Hefei low floatin 2025 2025 include but are not limited Branch risk g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted April April instruments. Derivative liquidity ent Bank Bank with 10000 7 30 financial instruments 14.47 14.47 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Shanghai High Princi The principal of this product Pudong safety pal- is invested in bank deposits April April Developm good protec and derivative financial Bank 10000 7 30 14.47 14.47 —— ent Bank liquidity ted instruments. Derivative 20252025 Co. Ltd. low with financial instruments Mianyang risk floatin include but are not limited 1 53Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Branch prudent g to credit products foreign type return exchange and interest rate s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial Industrial good ted April April instruments. Derivative Bank Co. liquidity Bank with 5000 9 30 financial instruments 6.16 6.16 —— Ltd. Hefei low floatin 2025 2025 include but are not limited Branch risk g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted April April instruments. Derivative liquidity ent Bank Bank with 5000 9 30 financial instruments 6.13 6.13 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Hefei g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial good Bank of ted April April instruments. Derivative liquidity China Bank with 40000 11 30 financial instruments 51.01 51.01 —— low Limited floatin 2025 2025 include but are not limited risk g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High Bank of pal- is invested in bank deposits safety Communi protec and derivative financial good cations ted April May instruments. Derivative liquidity Co. Ltd. Bank with 5000 11 12 financial instruments 8.36 8.36 —— low Anhui floatin 2025 2025 include but are not limited risk Provincial g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety China protec and derivative financial good Everbright ted April Octob instruments. Derivative liquidity Bank Co. Bank with 39000 24 er 24 financial instruments 419.25 419.25 —— low Ltd. Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Bank Co. ted April July instruments. Derivative liquidity Ltd. Bank with 5000 27 25 financial instruments 23.69 23.69 —— low Mianyang floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety China protec and derivative financial good Everbright ted April June instruments. Derivative liquidity Bank Co. Bank with 5000 27 27 financial instruments 17.91 17.91 —— low Ltd. Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options. 1 54Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Bohai good ted April Augus instruments. Derivative Bank Co. liquidity Bank with 10000 30 t 4 financial instruments 58.31 58.31 —— Ltd. low floatin 2025 2025 include but are not limited Chengdu risk g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted May May instruments. Derivative liquidity ent Bank Bank with 10000 6 30 financial instruments 12.89 12.89 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted May May instruments. Derivative liquidity ent Bank Bank with 10000 6 30 financial instruments 12.89 12.89 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted May May instruments. Derivative liquidity ent Bank Bank with 10000 6 30 financial instruments 12.89 12.89 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted May May instruments. Derivative liquidity ent Bank Bank with 10000 6 30 financial instruments 12.89 12.89 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial Industrial good ted May May instruments. Derivative Bank Co. liquidity Bank with 30000 7 27 financial instruments 36.16 36.16 —— Ltd. Hefei low floatin 2025 2025 include but are not limited Branch risk g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial good Bank of ted May May instruments. Derivative liquidity China Bank with 80000 7 30 financial instruments 121.49 121.49 —— low Limited floatin 2025 2025 include but are not limited risk g to credit products foreign prudent return exchange and interest rate type s options.Industrial High Princi The principal of this product May May Bank Co. safety pal- is invested in bank deposits Bank 3000 7 30 4.15 4.15 —— Ltd. Hefei good protec and derivative financial 20252025 Branch liquidity ted instruments. Derivative 1 55Changhong Meiling Co. Ltd. 2025 Annual Report Full Text low with financial instruments risk floatin include but are not limited prudent g to credit products foreign type return exchange and interest rate s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted May May instruments. Derivative liquidity Co. Ltd. Bank with 3000 8 30 financial instruments 4.15 4.15 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits Bank of safety protec and derivative financial Communi good ted May May instruments. Derivative cations liquidity Bank with 10000 15 28 financial instruments 6.62 6.62 —— Co. Ltd. low floatin 2025 2025 include but are not limited Mianyang risk g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Everbright good ted June June instruments. Derivative Bank Co. liquidity Bank with 2000 1 30 financial instruments 2.81 2.81 —— Ltd. low floatin 2025 2025 include but are not limited Mianyang risk g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits Bank of safety protec and derivative financial Communi good Septe ted June instruments. Derivative cations liquidity mber Bank with 10000 3 financial instruments 48.75 48.75 —— Co. Ltd. low 3 floatin 2025 include but are not limited Mianyang risk 2025 g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial good Bank of ted June June instruments. Derivative liquidity China Bank with 30000 4 30 financial instruments 50.43 50.43 —— low Limited floatin 2025 2025 include but are not limited risk g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted June June instruments. Derivative liquidity Co. Ltd. Bank with 25000 5 25 financial instruments 32.19 32.19 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.High Princi The principal of this product safety pal- is invested in bank deposits Bank of good protec and derivative financial Hangzhou June June liquidity ted instruments. Derivative Co. Ltd. Bank 30000 5 30 48.29 48.29 —— low with financial instruments Hefei 2025 2025 risk floatin include but are not limited Branch prudent g to credit products foreign type return exchange and interest rate 1 56Changhong Meiling Co. Ltd. 2025 Annual Report Full Text s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted June June instruments. Derivative liquidity Co. Ltd. Bank with 3000 5 30 financial instruments 4.72 4.72 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Merchants good ted June instruments. Derivative Bank Co. liquidity July 7 Bank with 5000 6 financial instruments 7.45 7.45 —— Ltd. low 2025 floatin 2025 include but are not limited Mianyang risk g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted June June instruments. Derivative liquidity ent Bank Bank with 10000 9 30 financial instruments 11.01 11.01 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted June June instruments. Derivative liquidity ent Bank Bank with 10000 9 30 financial instruments 11.01 11.01 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted June June instruments. Derivative liquidity ent Bank Bank with 10000 9 30 financial instruments 11.01 11.01 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted June June instruments. Derivative liquidity ent Bank Bank with 10000 9 30 financial instruments 11.01 11.01 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product China High pal- is invested in bank deposits CITIC safety protec and derivative financial Bank good Septe ted June instruments. Derivative Corporati liquidity mber Bank with 10000 11 financial instruments 46.06 46.06 —— on low 9 floatin 2025 include but are not limited Limited risk 2025 g to credit products foreign Chengdu prudent return exchange and interest rate Branch type s options. 1 57Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Princi The principal of this product High pal- is invested in bank deposits safety Huaxia protec and derivative financial good Septe Bank Co. ted June instruments. Derivative liquidity mber Limited Bank with 10000 23 financial instruments 44.92 44.92 —— low 18 Mianyang floatin 2025 include but are not limited risk 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Septe Chengdu ted June instruments. Derivative liquidity mber Co. Ltd. Bank with 10000 23 financial instruments 57.86 57.86 —— low 23 Mianyang floatin 2025 include but are not limited risk 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Septe Chengdu ted June instruments. Derivative liquidity mber Co. Ltd. Bank with 10000 23 financial instruments 57.86 57.86 —— low 23 Mianyang floatin 2025 include but are not limited risk 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Septe Chengdu ted June instruments. Derivative liquidity mber Co. Ltd. Bank with 5000 23 financial instruments 28.93 28.93 —— low 23 Mianyang floatin 2025 include but are not limited risk 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Everbright good ted Octob instruments. Derivative Bank Co. liquidity July 1 Bank with 10000 er 1 financial instruments 51.25 51.25 —— Ltd. low 2025 floatin 2025 include but are not limited Zhongsha risk g to credit products foreign n Branch prudent return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted July instruments. Derivative liquidity July 1 ent Bank Bank with 10000 31 financial instruments 16.51 16.51 —— low 2025 Co. Ltd. floatin 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial good Bank of ted July instruments. Derivative liquidity July 2 China Bank with 35000 30 financial instruments 63.10 63.10 —— low 2025 Limited floatin 2025 include but are not limited risk g to credit products foreign prudent return exchange and interest rate type s options.High Princi The principal of this product Bank of July safety pal- July 3 is invested in bank deposits China Bank 35000 30 59.81 59.81 —— good protec 2025 and derivative financial Limited 2025 liquidity ted instruments. Derivative 1 58Changhong Meiling Co. Ltd. 2025 Annual Report Full Text low with financial instruments risk floatin include but are not limited prudent g to credit products foreign type return exchange and interest rate s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial Industrial good ted July instruments. Derivative Bank Co. liquidity July 3 Bank with 5000 30 financial instruments 7.58 7.58 —— Ltd. Hefei low 2025 floatin 2025 include but are not limited Branch risk g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted July instruments. Derivative liquidity July 3 Co. Ltd. Bank with 30000 29 financial instruments 49.15 49.15 —— low 2025 Hefei floatin 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Bank Co. ted July instruments. Derivative liquidity July 3 Ltd. Bank with 10000 30 financial instruments 14.65 14.65 —— low 2025 Mianyang floatin 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Bank Co. ted July instruments. Derivative liquidity July 3 Ltd. Bank with 10000 30 financial instruments 14.65 14.65 —— low 2025 Mianyang floatin 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Bank Co. ted July instruments. Derivative liquidity July 3 Ltd. Bank with 10000 30 financial instruments 14.65 14.65 —— low 2025 Mianyang floatin 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Bank Co. ted July instruments. Derivative liquidity July 3 Ltd. Bank with 5000 30 financial instruments 7.33 7.33 —— low 2025 Mianyang floatin 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.High Princi The principal of this product safety pal- is invested in bank deposits Bank of good protec and derivative financial Hangzhou July liquidity ted July 4 instruments. Derivative Co. Ltd. Bank 20000 21 22.97 22.97 —— low with 2025 financial instruments Hefei 2025 risk floatin include but are not limited Branch prudent g to credit products foreign type return exchange and interest rate 1 59Changhong Meiling Co. Ltd. 2025 Annual Report Full Text s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted July instruments. Derivative liquidity July 4 Co. Ltd. Bank with 35000 30 financial instruments 57.34 57.34 —— low 2025 Hefei floatin 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted July instruments. Derivative liquidity July 4 Co. Ltd. Bank with 13500 31 financial instruments 21.42 21.42 —— low 2025 Hefei floatin 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High China pal- is invested in bank deposits safety Constructi protec and derivative financial good on Bank ted Octob instruments. Derivative liquidity July 4 Corporati Bank with 5000 er 10 financial instruments 21.14 21.14 —— low 2025 on floatin 2025 include but are not limited risk Zhongsha g to credit products foreign prudent n Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted July instruments. Derivative liquidity July 4 ent Bank Bank with 10000 31 financial instruments 14.15 14.15 —— low 2025 Co. Ltd. floatin 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted July instruments. Derivative liquidity July 4 ent Bank Bank with 10000 31 financial instruments 14.15 14.15 —— low 2025 Co. Ltd. floatin 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted July instruments. Derivative liquidity July 4 ent Bank Bank with 10000 31 financial instruments 14.15 14.15 —— low 2025 Co. Ltd. floatin 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted July instruments. Derivative liquidity July 4 ent Bank Bank with 10000 31 financial instruments 14.15 14.15 —— low 2025 Co. Ltd. floatin 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options. 1 60Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted July instruments. Derivative liquidity July 4 ent Bank Bank with 10000 31 financial instruments 14.15 14.15 —— low 2025 Co. Ltd. floatin 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted July instruments. Derivative liquidity July 4 Co. Ltd. Bank with 10000 31 financial instruments 16.05 16.05 —— low 2025 Hefei floatin 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial good Nove Bank of ted instruments. Derivative liquidity July 9 mber China Bank with 15000 financial instruments 123.13 123.13 —— low 2025 28 Limited floatin include but are not limited risk 2025 g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety China protec and derivative financial good Everbright ted Octob instruments. Derivative liquidity July 9 Bank Co. Bank with 11000 er 9 financial instruments 46.75 46.75 —— low 2025 Ltd. Hefei floatin 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Bohai good ted Octob instruments. Derivative Bank Co. liquidity July 9 Bank with 5000 er 9 financial instruments 25.21 25.21 —— Ltd. low 2025 floatin 2025 include but are not limited Chengdu risk g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Bohai good ted Octob instruments. Derivative Bank Co. liquidity July 9 Bank with 10000 er 9 financial instruments 50.41 50.41 —— Ltd. low 2025 floatin 2025 include but are not limited Chengdu risk g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Guangfa good ted July Augus instruments. Derivative Bank Co. liquidity Bank with 5000 11 t 15 financial instruments 9.05 9.05 —— Ltd. low floatin 2025 2025 include but are not limited Chengdu risk g to credit products foreign Branch prudent return exchange and interest rate type s options.China High Princi The principal of this product July Octob Merchants safety pal- is invested in bank deposits Bank 5000 11 er 13 25.88 25.88 —— Bank Co. good protec and derivative financial 20252025 Ltd. liquidity ted instruments. Derivative 1 61Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Mianyang low with financial instruments Branch risk floatin include but are not limited prudent g to credit products foreign type return exchange and interest rate s options.Princi The principal of this product High pal- is invested in bank deposits safety China protec and derivative financial good Septe Everbright ted July instruments. Derivative liquidity mber Bank Co. Bank with 3000 22 financial instruments 10.77 10.77 —— low 29 Ltd. Hefei floatin 2025 include but are not limited risk 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Guangfa good ted July Octob instruments. Derivative Bank Co. liquidity Bank with 5000 29 er 27 financial instruments 24.66 24.66 —— Ltd. low floatin 2025 2025 include but are not limited Zhongsha risk g to credit products foreign n Branch prudent return exchange and interest rate type s options.Princi The principal of this product Huaxia High pal- is invested in bank deposits Bank Co. safety protec and derivative financial Limited good Septe ted July instruments. Derivative Hefei liquidity mber Bank with 2000 29 financial instruments 6.66 6.66 —— High- low 30 floatin 2025 include but are not limited Tech Zone risk 2025 g to credit products foreign Sub- prudent return exchange and interest rate branch type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Guangfa good Septe ted July instruments. Derivative Bank Co. liquidity mber Bank with 5000 31 financial instruments 9.21 9.21 —— Ltd. low 4 floatin 2025 include but are not limited Zhongsha risk 2025 g to credit products foreign n Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Everbright good ted July Augus instruments. Derivative Bank Co. liquidity Bank with 3000 31 t 31 financial instruments 4.13 4.13 —— Ltd. low floatin 2025 2025 include but are not limited Zhongsha risk g to credit products foreign n Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Augus Augus instruments. Derivative liquidity Co. Ltd. Bank with 13500 t 4 t 29 financial instruments 21.27 21.27 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.High Princi The principal of this product safety pal- is invested in bank deposits Bank of good protec and derivative financial Hangzhou Augus Augus liquidity ted instruments. Derivative Co. Ltd. Bank 10000 t 4 t 22 10.85 10.85 —— low with financial instruments Hefei 2025 2025 risk floatin include but are not limited Branch prudent g to credit products foreign type return exchange and interest rate 1 62Changhong Meiling Co. Ltd. 2025 Annual Report Full Text s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Augus Augus instruments. Derivative liquidity Co. Ltd. Bank with 40000 t 4 t 29 financial instruments 60.27 60.27 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Bank Co. ted Augus Augus instruments. Derivative liquidity Ltd. Bank with 10000 t 4 t 28 financial instruments 12.72 12.72 —— low Mianyang floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Bank Co. ted Augus Augus instruments. Derivative liquidity Ltd. Bank with 10000 t 4 t 28 financial instruments 12.72 12.72 —— low Mianyang floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Bank Co. ted Augus Augus instruments. Derivative liquidity Ltd. Bank with 10000 t 4 t 28 financial instruments 12.72 12.72 —— low Mianyang floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Bank Co. ted Augus Augus instruments. Derivative liquidity Ltd. Bank with 10000 t 4 t 28 financial instruments 12.72 12.72 —— low Mianyang floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Augus Augus instruments. Derivative liquidity Co. Ltd. Bank with 4000 t 4 t 29 financial instruments 6.02 6.02 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial good Bank of ted Augus Augus instruments. Derivative liquidity China Bank with 40000 t 5 t 29 financial instruments 58.13 58.13 —— low Limited floatin 2025 2025 include but are not limited risk g to credit products foreign prudent return exchange and interest rate type s options. 1 63Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial Industrial good Septe ted Augus instruments. Derivative Bank Co. liquidity mber Bank with 5000 t 5 financial instruments 15.44 15.44 —— Ltd. Hefei low 29 floatin 2025 include but are not limited Branch risk 2025 g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Augus Augus instruments. Derivative liquidity Co. Ltd. Bank with 20000 t 6 t 25 financial instruments 22.90 22.90 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Huaxia protec and derivative financial good Bank Co. ted Augus Augus instruments. Derivative liquidity Limited Bank with 5000 t 6 t 29 financial instruments 6.33 6.33 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Augus Augus instruments. Derivative liquidity Co. Ltd. Bank with 70000 t 6 t 29 financial instruments 97.04 97.04 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial Industrial good ted Augus Augus instruments. Derivative Bank Co. liquidity Bank with 5000 t 6 t 29 financial instruments 6.30 6.30 —— Ltd. Hefei low floatin 2025 2025 include but are not limited Branch risk g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety China protec and derivative financial good Septe Merchants ted Augus instruments. Derivative liquidity mber Bank Co. Bank with 2000 t 6 financial instruments 3.16 3.16 —— low 8 Ltd. Hefei floatin 2025 include but are not limited risk 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Nove Bank Co. ted Augus instruments. Derivative liquidity mber Ltd. Bank with 1000 t 8 financial instruments 4.68 4.68 —— low 17 Guangzho floatin 2025 include but are not limited risk 2025 u Branch g to credit products foreign prudent return exchange and interest rate type s options.China High Princi Nove The principal of this product Augus Constructi safety pal- mber is invested in bank deposits Bank 5000 t 11 29.94 12.87 —— on Bank good protec 12 and derivative financial 2025 Corporati liquidity ted 2025 instruments. Derivative 1 64Changhong Meiling Co. Ltd. 2025 Annual Report Full Text on low with financial instruments Zhongsha risk floatin include but are not limited n Branch prudent g to credit products foreign type return exchange and interest rate s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Bohai good Septe ted Augus instruments. Derivative Bank Co. liquidity mber Bank with 1000 t 11 financial instruments 1.57 1.57 —— Ltd. low 11 floatin 2025 include but are not limited Zhongsha risk 2025 g to credit products foreign n Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Huaxia protec and derivative financial good Septe Bank Co. ted Augus instruments. Derivative liquidity mber Limited Bank with 5000 t 11 financial instruments 8.30 9.33 —— low 10 Zhongsha floatin 2025 include but are not limited risk 2025 n Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Septe Septe Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 13500 financial instruments 24.67 24.67 —— low 1 30 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Septe Septe Developm ted instruments. Derivative liquidity mber mber ent Bank Bank with 10000 financial instruments 14.82 14.82 —— low 1 30 Co. Ltd. floatin include but are not limited risk 2025 2025 Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Septe Septe Developm ted instruments. Derivative liquidity mber mber ent Bank Bank with 10000 financial instruments 14.82 14.82 —— low 1 30 Co. Ltd. floatin include but are not limited risk 2025 2025 Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Septe Septe Developm ted instruments. Derivative liquidity mber mber ent Bank Bank with 10000 financial instruments 14.82 14.82 —— low 1 30 Co. Ltd. floatin include but are not limited risk 2025 2025 Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.High Princi The principal of this product safety pal- is invested in bank deposits Industrial good protec Septe Septe and derivative financial Bank Co.liquidity ted mber mber instruments. Derivative Ltd. Bank 10000 14.33 14.33 —— low with 2 30 financial instruments Mianyang risk floatin 2025 2025 include but are not limited Branch prudent g to credit products foreign type return exchange and interest rate 1 65Changhong Meiling Co. Ltd. 2025 Annual Report Full Text s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Septe Septe Bank Co. ted instruments. Derivative liquidity mber mber Ltd. Bank with 10000 financial instruments 14.33 14.33 —— low 2 30 Mianyang floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Septe Septe Bank Co. ted instruments. Derivative liquidity mber mber Ltd. Bank with 10000 financial instruments 14.33 14.33 —— low 2 30 Mianyang floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Industrial protec and derivative financial good Septe Septe Bank Co. ted instruments. Derivative liquidity mber mber Ltd. Bank with 10000 financial instruments 14.33 14.33 —— low 2 30 Mianyang floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Septe Septe Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 10000 financial instruments 11.78 11.78 —— low 3 23 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Septe Septe Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 30000 financial instruments 47.71 47.71 —— low 3 30 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Septe Septe Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 4000 financial instruments 6.21 6.21 —— low 3 30 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial good Septe Septe Bank of ted instruments. Derivative liquidity mber mber China Bank with 40000 financial instruments 62.97 62.97 —— low 4 30 Limited floatin include but are not limited risk 2025 2025 g to credit products foreign prudent return exchange and interest rate type s options. 1 66Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Septe Septe Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 60000 financial instruments 72.33 72.33 —— low 4 24 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Septe Septe Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 30000 financial instruments 47.01 47.01 —— low 4 30 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Guangfa good Septe Dece ted instruments. Derivative Bank Co. liquidity mber mber Bank with 5000 financial instruments 23.68 23.68 —— Ltd. low 19 19 floatin include but are not limited Zhongsha risk 2025 2025 g to credit products foreign n Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Everbright good Septe ted Octob instruments. Derivative Bank Co. liquidity mber Bank with 2000 er 19 financial instruments 2.67 2.83 —— Ltd. low 19 floatin 2025 include but are not limited Zhongsha risk 2025 g to credit products foreign n Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Huaxia protec and derivative financial good Septe Bank Co. ted Octob instruments. Derivative liquidity mber Limited Bank with 5000 er 31 financial instruments 9.72 11.06 —— low 22 Zhongsha floatin 2025 include but are not limited risk 2025 n Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety China protec and derivative financial good Septe Dece Everbright ted instruments. Derivative liquidity mber mber Bank Co. Bank with 10000 financial instruments 40.04 40.04 —— low 26 26 Ltd. Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Septe Dece Chengdu ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 10000 financial instruments 60.67 60.67 —— low 30 30 Mianyang floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Bank of High Princi Septe Dece The principal of this product Chengdu safety pal- mber mber is invested in bank deposits Bank 10000 60.67 60.67 —— Co. Ltd. good protec 30 30 and derivative financial Mianyang liquidity ted 2025 2025 instruments. Derivative 1 67Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Branch low with financial instruments risk floatin include but are not limited prudent g to credit products foreign type return exchange and interest rate s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Septe Dece Chengdu ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 1000 financial instruments 6.07 6.07 —— low 30 30 Mianyang floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Octob Octob instruments. Derivative liquidity Co. Ltd. Bank with 13500 er 9 er 31 financial instruments 17.90 17.90 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Octob Octob instruments. Derivative liquidity Co. Ltd. Bank with 10000 er 13 er 24 financial instruments 6.33 6.33 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Octob Octob instruments. Derivative liquidity Co. Ltd. Bank with 70000 er 13 er 31 financial instruments 72.49 72.49 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Octob Octob instruments. Derivative liquidity Co. Ltd. Bank with 17000 er 13 er 24 financial instruments 10.76 10.76 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Octob Octob instruments. Derivative liquidity Co. Ltd. Bank with 23000 er 13 er 31 financial instruments 23.82 23.82 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.High Princi The principal of this product safety pal- is invested in bank deposits Ping An good protec Dece and derivative financial Bank Co. Octob liquidity ted mber instruments. Derivative Ltd. Bank 10000 er 13 34.74 34.74 —— low with 31 financial instruments Mianyang 2025 risk floatin 2025 include but are not limited Branch prudent g to credit products foreign type return exchange and interest rate 1 68Changhong Meiling Co. Ltd. 2025 Annual Report Full Text s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Octob Octob instruments. Derivative liquidity Co. Ltd. Bank with 4000 er 13 er 31 financial instruments 3.95 3.95 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety protec and derivative financial good Bank of ted Octob Octob instruments. Derivative liquidity China Bank with 40000 er 14 er 31 financial instruments 38.19 38.19 —— low Limited floatin 2025 2025 include but are not limited risk g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Hangzhou ted Octob Octob instruments. Derivative liquidity Co. Ltd. Bank with 20000 er 15 er 31 financial instruments 17.53 17.53 —— low Hefei floatin 2025 2025 include but are not limited risk Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Developm ted Octob Octob instruments. Derivative liquidity ent Bank Bank with 10000 er 15 er 31 financial instruments 10.67 10.67 —— low Co. Ltd. floatin 2025 2025 include but are not limited risk Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Nove Developm ted Octob instruments. Derivative liquidity mber ent Bank Bank with 10000 er 15 financial instruments 13.33 13.33 —— low 14 Co. Ltd. floatin 2025 include but are not limited risk 2025 Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Bohai good Nove ted Octob instruments. Derivative Bank Co. liquidity mber Bank with 10000 er 15 financial instruments 17.18 17.18 —— Ltd. low 17 floatin 2025 include but are not limited Chengdu risk 2025 g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety China protec and derivative financial good Dece Everbright ted Octob instruments. Derivative liquidity mber Bank Co. Bank with 3000 er 15 financial instruments 10.00 10.00 —— low 30 Ltd. Hefei floatin 2025 include but are not limited risk 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options. 1 69Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Princi The principal of this product High pal- is invested in bank deposits safety Huaxia protec and derivative financial good Dece Bank Co. ted Octob instruments. Derivative liquidity mber Limited Bank with 10000 er 16 financial instruments 39.04 39.04 —— low 26 Mianyang floatin 2025 include but are not limited risk 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Huaxia protec and derivative financial good Dece Bank Co. ted Octob instruments. Derivative liquidity mber Limited Bank with 10000 er 16 financial instruments 39.04 39.04 —— low 26 Mianyang floatin 2025 include but are not limited risk 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety protec Huaxia and derivative financial good ted Nove Bank Co. Octob instruments. Derivative liquidity with mber Limited Bank 5000 er 20 financial instruments 2.47 2.47 —— low minim 25 Zhongsha 2025 include but are not limited risk um 2025 n Branch to credit products foreign prudent guaran exchange and interest rate type teed options.return Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Merchants good Dece ted Octob instruments. Derivative Bank Co. liquidity mber Bank with 3000 er 20 financial instruments 8.85 8.85 —— Ltd. low 22 floatin 2025 include but are not limited Mianyang risk 2025 g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Dece Chengdu ted Octob instruments. Derivative liquidity mber Co. Ltd. Bank with 4000 er 29 financial instruments 16.53 16.53 —— low 30 Mianyang floatin 2025 include but are not limited risk 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product Huaxia High pal- is invested in bank deposits Bank Co. safety protec and derivative financial Limited good Dece ted Octob instruments. Derivative Hefei liquidity mber Bank with 2000 er 29 financial instruments 7.08 7.08 —— High- low 31 floatin 2025 include but are not limited Tech Zone risk 2025 g to credit products foreign Sub- prudent return exchange and interest rate branch type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Nove Nove Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 20000 financial instruments 27.40 27.40 —— low 3 28 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options. 1 70Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Nove Nove Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 13500 financial instruments 20.34 20.34 —— low 3 28 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Nove Nove Developm ted instruments. Derivative liquidity mber mber ent Bank Bank with 10000 financial instruments 12.15 12.15 —— low 3 28 Co. Ltd. floatin include but are not limited risk 2025 2025 Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Nove Nove China ted instruments. Derivative liquidity mber mber (structure Bank with 10000 financial instruments 2.52 2.52 —— low 5 28 d floatin include but are not limited risk 2025 2025 deposits) g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Nove Nove Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 10000 financial instruments 12.92 12.92 —— low 5 28 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Nove Nove Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 30000 financial instruments 32.01 32.01 —— low 5 24 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Nove Nove Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 50000 financial instruments 61.78 61.78 —— low 6 28 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Nove Nove Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 30000 financial instruments 37.07 37.07 —— low 6 28 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Bank of High Princi Nove Nove The principal of this product Hangzhou safety pal- mber mber is invested in bank deposits Bank 4000 4.49 4.49 —— Co. Ltd. good protec 7 28 and derivative financial Hefei liquidity ted 2025 2025 instruments. Derivative 1 71Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Branch low with financial instruments risk floatin include but are not limited prudent g to credit products foreign type return exchange and interest rate s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Everbright good Nove Dece ted instruments. Derivative Bank Co. liquidity mber mber Bank with 2000 financial instruments 4.30 4.30 —— Ltd. low 7 26 floatin include but are not limited Zhongsha risk 2025 2025 g to credit products foreign n Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Everbright good Nove Dece ted instruments. Derivative Bank liquidity mber mber Bank with 30000 financial instruments 66.67 66.67 —— (structure low 11 31 floatin include but are not limited d risk 2025 2025 g to credit products foreign deposits) prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Bohai good Nove Dece ted instruments. Derivative Bank Co. liquidity mber mber Bank with 2000 financial instruments 4.44 4.44 —— Ltd. low 11 26 floatin include but are not limited Zhongsha risk 2025 2025 g to credit products foreign n Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Huaxia protec and derivative financial good Nove Dece Bank Co. ted instruments. Derivative liquidity mber mber Limited Bank with 3000 financial instruments 5.06 5.06 —— low 12 17 Zhongsha floatin include but are not limited risk 2025 2025 n Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Everbright good Nove Dece ted instruments. Derivative Bank liquidity mber mber Bank with 3000 financial instruments 6.40 6.40 —— (structure low 13 31 floatin include but are not limited d risk 2025 2025 g to credit products foreign deposits) prudent return exchange and interest rate type s options.Princi The principal of this product China High pal- is invested in bank deposits CITIC safety protec and derivative financial Bank good Nove Dece ted instruments. Derivative Corporati liquidity mber mber Bank with 2000 financial instruments 3.99 3.99 —— on low 14 29 floatin include but are not limited Limited risk 2025 2025 g to credit products foreign Zhongsha prudent return exchange and interest rate n Branch type s options.High Princi The principal of this product China safety pal- is invested in bank deposits Bohai good protec Nove Dece and derivative financial Bank Co. liquidity ted mber mber instruments. Derivative Bank 3000 4.59 4.59 —— Ltd. low with 21 22 financial instruments Zhongsha risk floatin 2025 2025 include but are not limited n Branch prudent g to credit products foreign type return exchange and interest rate 1 72Changhong Meiling Co. Ltd. 2025 Annual Report Full Text s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Everbright good Nove Dece ted instruments. Derivative Bank Co. liquidity mber mber Bank with 1000 financial instruments 1.33 1.33 —— Ltd. low 21 22 floatin include but are not limited Zhongsha risk 2025 2025 g to credit products foreign n Branch prudent return exchange and interest rate type s options.Princi The principal of this product High Shanghai pal- is invested in bank deposits safety Pudong protec and derivative financial good Nove Dece Developm ted instruments. Derivative liquidity mber mber ent Bank Bank with 10000 financial instruments 14.58 14.58 —— low 24 24 Co. Ltd. floatin include but are not limited risk 2025 2025 Mianyang g to credit products foreign prudent Branch return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits China safety protec and derivative financial Bohai good Nove Dece ted instruments. Derivative Bank Co. liquidity mber mber Bank with 10000 financial instruments 15.62 15.62 —— Ltd. low 25 25 floatin include but are not limited Chengdu risk 2025 2025 g to credit products foreign Branch prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Huaxia protec and derivative financial good Nove Dece Bank Co. ted instruments. Derivative liquidity mber mber Limited Bank with 2000 financial instruments 3.32 3.80 —— low 25 30 Zhongsha floatin include but are not limited risk 2025 2025 n Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Dece Dece Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 13500 financial instruments 24.41 24.41 —— low 1 31 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Dece Dece Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 20000 financial instruments 32.88 32.88 —— low 1 31 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Dece Dece Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 16000 financial instruments 17.07 17.07 —— low 3 22 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options. 1 73Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Dece Dece Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 16000 financial instruments 18.87 18.87 —— low 3 24 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Dece Dece Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 6000 financial instruments 8.98 8.98 —— low 3 31 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Dece Dece Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 70000 financial instruments 106.15 106.15 —— low 4 31 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Princi The principal of this product High pal- is invested in bank deposits safety Bank of protec and derivative financial good Dece Dece Hangzhou ted instruments. Derivative liquidity mber mber Co. Ltd. Bank with 29000 financial instruments 32.58 32.58 —— low 4 24 Hefei floatin include but are not limited risk 2025 2025 Branch g to credit products foreign prudent return exchange and interest rate type s options.Total 2760000.00 -- -- -- 5368.45 -- -- Note: Zhongke Meiling a subsidiary of the Company is a company listed on the Beijing Stock Exchange. For its entrusted wealth management please refer to Zhongke Meiling’s 2025 Annual Report.Whether there exist wealth management products with a single outstanding balance of more than RMB 50 million pending redemption at the end of the reporting period or overdue and unsettled at the end of the reporting period.□ Yes √ No □ Not applicable 2. Entrusted loan arrangements □ Applicable √ Not applicable The Company had no entrusted loan arrangements during the reporting period.(IV) Other significant contracts □ Applicable √ Not applicable The Company had no other significant contracts during the reporting period. 1 74Changhong Meiling Co. Ltd. 2025 Annual Report Full Text XVI. Use of Proceeds □ Applicable √ Not applicable The Company had no use of proceeds during the reporting period.XVII. Explanations of Other Significant Matters √ Applicable □ Not applicable 1. Upon deliberation and approval at the 10th meeting of the 11th Board of Directors and the 7th meeting of the 11th Board of Supervisors in order to safeguard fund security ensure the compliance and prudence of the cooperation between the Company and Sichuan Changhong Group Finance Co. Ltd. and in light of the Company’s actual circumstances it was agreed to revise certain provisions of the Risk Disposal Plan for Deposit and Loan Financial Business of Changhong Meiling Co. Ltd. with Sichuan Changhong Group Finance Co. Ltd. Details were disclosed by the Company in the form of announcements (Announcements No. 2025-001 2025- 002 and 2025-003) on January 2 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 2. On January 23 2025 the Company as a limited partner (LP) in the Sichuan Hongyun Information Technology Venture Capital Fund Partnership (Limited Partnership) (hereinafter referred to as “Hongyun Fund Phase II”) convened the first extraordinary partners’ meeting of 2025. As Hongyun Fund Phase II had not yet completed product registration nor carried out any external investment all partners unanimously agreed to terminate the operation of the partnership dissolve the partnership establish a liquidation group to handle termination and liquidation matters and authorize the fund manager to handle relevant liquidation and deregistration matters.On January 24 2025 the Company received a total of RMB 18.1520 million comprising the paid-in capital contribution and the income from cash management of such funds. As of June 10 2025 the Company had received the remaining property distribution of RMB 38829.19 and obtained the Registration Notice issued by the Smart City Operation Bureau of Sichuan Tianfu New Area and Hongyun Fund Phase II completed liquidation and deregistration. Details were disclosed by the Company in the form of announcements (Announcements No. 2025-004 and 2025-044) on January 24 2025 and June 12 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 3. On March 17 2025 the 11th meeting of the 11th Board of Directors deliberated and approved the Proposal on the Investment in Establishing a Subsidiary and Participating in the Bidding for Land Use Rights. In accordance with the Company’s strategic development plan and operational needs and to address the future capacity gap in washing machine sales and meet market demand it was agreed that the Company and its subsidiary Mianyang Meiling would jointly invest RMB 500 million of their own funds to establish Mianyang Changhong Smart 1 75Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Home Appliances Co. Ltd. (hereinafter referred to as “Smart Home Appliances”). Among this the Company would contribute RMB 495 million holding 99% equity interest and Mianyang Meiling would contribute RMB 5 million holding 1% equity interest. Smart Home Appliances would participate in bidding for a parcel of industrial land located in Fuxin Community Songya Town Mianyang Economic and Technological Development Zone Sichuan Province as the construction site for the Company’s washing machine project with a land area of approximately 136737.72 square meters (approximately 205.11 mu) and the authorized total bidding price shall not exceed RMB 59.50 million. On March 21 2025 Smart Home Appliances completed industrial and commercial registration and obtained the Business License issued by the Mianyang Municipal Administration for Market Regulation. On April 18 2025 Smart Home Appliances successfully acquired the state-owned construction land use rights located in Fuxin Community Songya Town Economic Development Zone and signed the Confirmation Letter for the Transfer of State-owned Construction Land Use Rights with a total transaction price of RMB 59.008598 million.On April 25 2025 the Company convened the 14th meeting of the 11th Board of Directors and deliberated and approved the Proposal on the Investment and Construction of a Washing Machine Project with an Annual Output of 1 Million Units per Single Shift by a Subsidiary agreeing that Smart Home Appliances would invest approximately RMB 520 million in the Mianyang Economic and Technological Development Zone to construct a project with an annual output of 1 million washing machines per single shift (including the above-mentioned land plant and equipment investment) thereby achieving an additional annual production capacity of 1 million units per single shift.Details were disclosed by the Company in the form of announcements (Announcements No. 2025-005 2025-006 2025-021 2025-028 and 2025-029) on March 18 April 18 and April 26 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 4. On April 1 2025 and April 25 2025 after the resolution of the 12th meeting of the 11th Board of Directors of the Company the 8th meeting of the 11th Board of Supervisors and the 2024 annual meeting of Board of Shareholders it’s approved that the Company's 2024 profit distribution plan-based on the Company's total share capital of 1029923715 shares as of December 31 2024 a cash dividend of RMB 3.3 (including tax) will be distributed to all shareholders for every 10 shares no bonus shares no provident fund will be used to increase share capital and it is expected to distribute cash dividends of RMB 339874825.95 (including tax) accounting for 48.60% of the net profit attributable to shareholders of the listed company in 2024. On June 5 2025 the Company disclosed the Announcement on the Implementation of the 2024 Profit Distribution Plan and implemented the aforementioned profit distribution plan. Details were disclosed by the Company in the form of announcements (Announcements No. 1 76Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 2025-007 2025-008 2025-010 2025-030 and 2025-042) on April 3 April 26 and June 5 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 5. On April 1 2025 and April 25 2025 upon deliberation and approval at the 12th meeting of the 11th Board of Directors and the 2024 annual meeting of Board of Shareholders it was agreed to reappoint Pan-China Certified Public Accountants LLP as the audit institution for the Company’s 2025 financial statements and internal control for a term of one year. The details were disclosed by the Company on April 3 2025 and April 26 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn) through announcements (No. 2025-007 No. 2025-011 and No. 2025-030). 6. On April 1 2025 and April 25 2025 upon deliberation and approval at the 12th meeting of the 11th Board of Directors and the 2024 annual meeting of Board of Shareholders it was agreed that the Company and its subsidiaries would conduct forward foreign exchange transactions during the period from July 1 2025 to June 30 2026 mainly including forward foreign exchange transactions RMB foreign exchange swap transactions RMB foreign exchange option transactions non-deliverable forward foreign exchange transactions and other foreign exchange derivatives transactions with an outstanding balance not exceeding USD 2.009 billion (mainly including: U.S. dollars Australian dollars euros; all other foreign currencies are converted into U.S. dollars). The details were disclosed by the Company on April 3 2025 and April 26 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn) through announcements (No. 2025-007 No. 2025-015 and No. 2025-030). 7. On April 1 2025 upon deliberation and approval at the 12th meeting of the 11th Board of Directors and the 8th meeting of the 11th Board of Supervisors it was agreed that the Company would change its accounting policies in accordance with the relevant provisions of the Ministry of Finance’s Interpretation No. 17 of the Accounting Standards for Business Enterprises and Interpretation No. 18 of the Accounting Standards for Business Enterprises. Details were disclosed by the Company in the form of an announcement (Announcement No. 2025-007 2025- 008 and 2025-013) on April 3 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 8. On April 1 2025 and April 25 2025 respectively upon deliberation and approval at the 12th meeting of the 11th Board of Directors and the 2024 annual meeting of Board of Shareholders it was agreed that the Company and its subsidiaries would apply to Industrial Bank Co. Ltd. Hefei Branch for a special bill pool credit facility with a maximum limit of RMB 400 million and to Ping An Bank Co. Ltd. Hefei Branch for a special bill pool credit facility with a maximum limit of RMB 500 million. The details were disclosed by the Company on April 3 2025 and April 26 2025 in the designated information disclosure media Securities Times China 1 77Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Securities Journal and Juchao Website (www.cninfo.com.cn) through announcements (No. 2025- 007 No. 2025-017 and No. 2025-030). 9. On May 21 2025 the Company disclosed the Voluntary Information Disclosure Announcement on Shareholder Appreciation Activities. In order to express gratitude to shareholders for their long-term support establish diversified shareholder return mechanisms enable shareholders to experience the Company’s new products and services and enhance investors’ understanding and recognition of the Company’s intrinsic value the Company held the “Changhong Meiling Shareholder Appreciation Event” from May 21 to May 25 2025. Details were disclosed by the Company in the form of an announcement (Announcement No. 2025-035) on May 21 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 10. On May 8 2025 upon nomination by Mr. Tang Youdao Vice President (acting as President) review and approval by the Nomination Committee under the Board of Directors and approval at the 15th meeting of the 11th Board of Directors the Board agreed to appoint Mr.Wang Xiaocheng as Vice President of the Company with a term of office from the date of approval by the Board to the expiration of the current Board’s term. Details were disclosed by the Company in the form of announcements (Announcements No. 2025-031 and 2025-033) on May 9 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 11. On June 18 2025 as Mr. Pang Haitao resigned from the position of CFO due to job changes upon nomination by Mr. Tang Youdao Vice President (acting as President) and review and approval by the Nomination Committee and the Audit Committee of the Board of Directors and approval at the 18th meeting of the 11th Board of Directors the Board agreed to appoint Mr.Yang Bing as CFO of the Company with a term of office from the date of approval by the Board to the expiration of the current Board’s term. Details were disclosed by the Company in the form of an announcement (Announcement No. 2025-045 and 2025-047) on June 19 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 12. On August 19 2025 and September 29 2025 respectively upon deliberation and approval at the 20th meeting of the 11th Board of Directors and the first extraordinary meeting of Board of Shareholders of 2025 it was agreed to amend certain provisions of the Articles of Association the Rules of Procedure for the Board of Shareholders and the Rules of Procedure for the Board of Directors. Details were disclosed by the Company in the form of announcements (Announcements No. 2025-054 2025-057 and 2025-068) on August 21 and September 30 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 1 78Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 13. On August 19 2025 and September 29 2025 respectively upon deliberation and approval at the 20th meeting of the 11th Board of Directors and the first extraordinary meeting of Board of Shareholders of 2025 in order to improve the efficiency of fund utilization increase returns on cash assets and maximize shareholders’ interests under the premise of ensuring daily operational funding needs and effectively controlling investment risks it was agreed that the Company and its subsidiaries (excluding Zhongke Meiling and its subsidiaries) would increase the use of idle self-owned funds by no more than RMB 1.2 billion to invest in bank wealth management products with a term of within one year featuring high safety good liquidity low risk and prudent characteristics. That is the daily dynamic balance of investment in bank wealth management products shall not exceed RMB 1.2 billion (the quota may be used on a rolling basis) with an authorization period valid for one year from the date of approval by the general meeting of shareholders. Details were disclosed by the Company in the form of announcements (Announcements No. 2025-054 2025-055 2025-059 and 2025-068) on August 21 and September 30 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 14. On September 11 2025 upon nomination by Mr. Wu Dinggang Chairman of the Company and review and approval by the Nomination Committee of the Board of Directors and approval at the 21st meeting of the 11th Board of Directors the Board agreed to appoint Mr. Tang Youdao as President of the Company with a term of office from the date of approval by the Board to the expiration of the current Board’s term. Details were disclosed by the Company in the form of an announcement (Announcement No. 2025-062 and 2025-063) on September 13 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 15. On September 11 2025 upon deliberation and approval at the 21st meeting of the 11th Board of Directors in accordance with the Company’s strategic planning and to meet the business development needs of Hongyuan Ground Energy Heat Pump Technology (Zhongshan) Co. Ltd.(hereinafter referred to as “Heat Pump Zhongshan”) a subsidiary under Changhong Air Conditioner the Board of Directors agreed that Changhong Air Conditioner would first increase capital of RMB 95 million in Hongyuan Ground Energy Heat Pump Technology Co. Ltd.(hereinafter referred to as “Hongyuan Heat Pump” in which Changhong Air Conditioner holds 85% equity and Hengyouyuan Technology Development Group Co. Ltd. holds 15% equity (hereinafter referred to as “Hengyouyuan”)) by way of a non-public agreement and then Hongyuan Heat Pump would further increase capital of RMB 95 million in its wholly-owned subsidiary Heat Pump Zhongshan by way of a non-public agreement. Details were disclosed by the Company in the form of an announcement (Announcement No. 2025-062 and 2025-064) on September 13 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 1 79Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 16. On September 11 2025 upon deliberation and approval at the 21st meeting of the 11th Board of Directors the Board agreed to appoint Ms. Xiao Li as the Company’s Securities Affairs Representative to assist the Board Secretary in performing duties with a term of office from the date of approval by the Board to the expiration of the current Board’s term. Details were disclosed by the Company in the form of an announcement (Announcement No. 2025-062 and 2025-065) on September 13 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 17. On October 22 2025 as Ms. Li Xia resigned from the position of Board Secretary due to job adjustment upon nomination by Mr. Tang Youdao President of the Company review and approval by the Nomination Committee of the Board of Directors and approval at the 22nd meeting of the 11th Board of Directors the Board agreed to appoint Ms. Yang Liuxu as the Company’s Board Secretary with a term of office from the date of approval by the Board to the expiration of the current Board’s term. Details were disclosed by the Company in the form of an announcement (Announcement No. 2025-070 and 2025-074) on October 23 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 18. On November 5 2025 and November 24 2025 respectively upon deliberation and approval at the 23rd meeting of the 11th Board of Directors and the 2nd extraordinary meeting of Board of Shareholders of 2025 it was agreed that the Company and its subsidiaries would apply to Huaxia Bank Co. Limited Hefei Branch for a special bill pool credit facility with a maximum limit of RMB 300 million; apply to Hangzhou Bank Co. Ltd. Hefei Branch for a special bill pool credit facility with a maximum limit of RMB 500 million; and apply to Bank of Communications Co. Ltd. Anhui Provincial Branch for a special bill pool credit facility with a maximum limit of RMB 1 billion. The details were disclosed by the Company on November 6 2025 and November 25 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn) through announcements (No. 2025-077 No. 2025-079 and No. 2025-082). 19. The Board of Directors of the Company received a written resignation report from Mr. Zhong Ming. Due to job changes Mr. Zhong Ming applied to resign from his positions as a director of the 11th Board of Directors a member of the Strategy Committee a member of the Nomination Committee and a member of the ESG Management Committee. After his resignation he no longer holds any position in the Company. On November 27 2025 and December 16 2025 respectively upon deliberation and approval at the 24th meeting of the 11th Board of Directors and the 3rd extraordinary meeting of Board of Shareholders of 2025 upon nomination by the Company’s controlling shareholder Sichuan Changhong and review and approval by the Nomination Committee of the Board of Directors it was agreed to appoint Mr. Tang Youdao as a 1 80Changhong Meiling Co. Ltd. 2025 Annual Report Full Text non-independent director candidate of the 11th Board of Directors with a term of office from the date of approval by the general meeting of shareholders to the expiration of the 11th Board of Directors. Details were disclosed by the Company in the form of announcements (Announcements No. 2025-083 2025-084 and 2025-095) on November 29 2025 and December 17 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 20. On November 27 2025 and December 16 2025 respectively upon deliberation and approval at the 24th meeting of the 11th Board of Directors and the third extraordinary meeting of Board of Shareholders of 2025 in order to improve the efficiency of capital utilization increase returns on cash assets and maximize shareholders’ interests under the premise of ensuring daily operational funding needs and effectively controlling investment risks it was agreed that the Company and its subsidiaries (excluding Zhongke Meiling and its subsidiaries) would use idle self-owned funds of no more than RMB 8.2 billion (the quota may be used on a rolling basis) to invest in bank wealth management products with a term within one year featuring high safety good liquidity low risk and prudent characteristics. The authorization period shall be valid for one year from the date of approval by the Board of Shareholders. Details were disclosed by the Company in the form of announcements (Announcements No. 2025-083 2025-088 and 2025-095) on November 29 2025 and December 17 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 21. On November 27 2025 upon deliberation and approval at the 24th meeting of the 11th Board of Directors it was agreed to carry out liquidation and deregistration of Hefei Meiling IoT Technology Co. Ltd. a wholly-owned subsidiary and Hebei Hongmao Household Appliance Technology Co. Ltd. a wholly-owned subsidiary of Changhong Meiling Ridian Technology Co.Ltd. a controlled subsidiary. Details were disclosed by the Company in the form of an announcement (Announcement No. 2025-083 and 2025-090) on November 29 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 22. On December 19 2025 upon deliberation and approval at the 25th meeting of the 11th Board of Directors the Board agreed to appoint Mr. Tang Youdao as a member of the Strategy Committee a member of the Nomination Committee and a member of the ESG Management Committee of the 11th Board of Directors with a term of office from the date of approval by the Board to the expiration of the 11th Board of Directors. Details were disclosed by the Company in the form of an announcement (Announcement No. 2025-096 and 2025-097) on December 20 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 1 81Changhong Meiling Co. Ltd. 2025 Annual Report Full Text XVIII. Significant Matters of the Company’s Subsidiaries √ Applicable □ Not applicable 1. On May 8 2025 upon deliberation and approval at the 16th meeting of the 11th Board of Directors it was agreed that Changhong Air Conditioner would invest RMB 28.355 million of its self-raised funds to implement a special renovation project to improve the utilization rate of park facilities so as to support its future business development. Details were disclosed by the Company in the form of an announcement (Announcement No. 2025-031) on May 9 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 2. On May 23 2025 upon deliberation and approval at the 16th meeting of the 11th Board of Directors it was agreed that Zhongshan Changhong would invest approximately RMB 296.42 million of its self-raised funds in the future to construct an air-conditioning project with an annual output of 4 million units per single shift thereby achieving an additional production capacity of 4 million units per single shift. The project investment includes production lines equipment working capital etc.; the project site will be leased from a new plant to be constructed by Guangdong Changhong Electronics Co. Ltd. a subsidiary of Sichuan Changhong Electric Co.Ltd.; the project is expected to commence after completion of the new plant with an anticipated start in 2027. Upon completion and commencement of operation the project will directly enhance Zhongshan Changhong’s air-conditioning production capacity effectively meet the future overseas sales demand of the Company’s air-conditioning business and promote the Company’s sustainable development. Details were disclosed by the Company in the form of an announcement (Announcement No. 2025-036 and 2025-038) on May 24 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 3. On June 18 2025 upon deliberation and approval at the 18th meeting of the 11th Board of Directors it was agreed that the subsidiary Hefei Changhong Industrial Co. Ltd. would invest in the construction of the Hefei Changhong Smart Home Appliances Industrial Park Project (hereinafter referred to as the “Project”) with a total investment of RMB 877.05 million funded by self-raised capital. Upon completion and commencement of operation the Project will effectively increase the production capacity of large- and medium-capacity refrigerators build a “flexible digitalized and green” smart home appliance industrial park and promote the Company’s sustainable development. The Project has been approved at the Company’s 2nd extraordinary meeting of Board of Shareholders in 2025. The details were disclosed by the Company on June 19 2025 and November 25 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn) through announcements (No. 2025-045 No. 2025-046 and No. 2025-082). 1 82Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 4. On November 27 2025 upon deliberation and approval at the 24th meeting of the 11th Board of Directors it was agreed that the subsidiary Changhong Air Conditioner would invest RMB 12.5784 million to implement a technological transformation project so as to ensure the sound development of its future operations. Details were disclosed by the Company in the form of an announcement (Announcement No. 2025-083 and 2025-089) on November 29 2025 in the designated information disclosure media Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn). 1 83Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Section VI Changes in Shares and Shareholders I. Changes in Shares (I) Changes in shares Unit: Shares Before this change Increase/decrease in this change (+ ?) After this change Capital Issuance reserve Share Number Proportion of new conversion Others Subtotal Number Proportion dividends shares to share capital I. Shares subject to 61540850.60%000+59152+5915262132370.60% selling restrictions 1. State- 00.00%0000000.00% owned shares 2. Shares held by state- 11410530.11%0000011410530.11% owned legal persons 3. Shares held by other 50130320.49%000+59152+5915250721840.49% domestic investors Including: Shares held 33635390.33%0000033635390.33% by domestic legal persons Shares held by domestic 16494930.16%000+59152+5915217086450.16% natural persons 4. Shares held by foreign 0 0.00% 0 0 0 0 0 0 0.00% investors Including: Shares held 00.00%0000000.00% by overseas legal persons Shares held by overseas 00.00%0000000.00% natural persons II. Shares not subject to 102376963099.40%000-59152-59152102371047899.40% selling restrictions 1. RMB ordinary 875579796 85.01% 0 0 0 -59152 -59152 875520644 85.01% shares 2. Domestically 14818983414.39%0000014818983414.39% listed foreign shares 3. Overseas listed foreign 0 0.00% 0 0 0 0 0 0 0.00% shares 1 84Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 4. Others 0 0.00% 0 0 0 0 0 0 0.00% III. Total number of 1029923715 100.00% 0 0 0 0 0 1029923715 100.00% shares 1. Reasons for changes in shares √ Applicable □ Not applicable (1) On May 8 2025 the Company convened the 15th meeting of the 11th Board of Directors and deliberated and approved the Proposal on the Appointment of the Company’s Vice President.The Board agreed to appoint Mr. Wang Xiaocheng as Vice President of the Company with a term of office from the date of approval by the Board to the expiration of the 11th Board’s term. Mr.Wang Xiaocheng holds 144 shares of the Company. In accordance with the relevant provisions of the Rules on the Management of Shares Held by Directors and Senior Executives of Listed Companies and Changes Thereof 75% of his shareholding i.e. 108 shares are subject to lock-up as shares held by senior management. (2) On November 27 2025 Mr. Zhong Ming due to changes in his work no longer serves as a director of the company's 11th Board of Directors a member of the Strategy Committee a member of the Nomination Committee and a member of the ESG Management Committee due to job changes. His originally scheduled term of office was to expire on June 18 2027. In accordance with the relevant provisions of the Rules on the Management of Shares Held by Directors and Senior Executives of Listed Companies and Changes Thereof prior to his resignation 75% of the shares held by Mr. Zhong Ming i.e. 177131 shares were restricted shares. During the reporting period as less than six months had elapsed since his resignation the remaining 25% of his shares i.e. 59044 shares were also locked up. Currently all shares of Meiling held by Mr. Zhong Ming are subject to lock-up. 2 Approval of changes in shares □ Applicable √ Not applicable 3. Transfer of shares resulting from changes □ Applicable √ Not applicable 4. Impact of changes in shares on basic earnings per share and diluted earnings per share for the most recent year and period and on net assets per share attributable to ordinary shareholders of the Company □ Applicable √ Not applicable 5. Other contents deemed necessary by the Company or required to be disclosed by securities regulatory authorities 1 85Changhong Meiling Co. Ltd. 2025 Annual Report Full Text □ Applicable √ Not applicable (II) Changes in restricted shares √ Applicable □ Not applicable Unit: Shares Number of Number of Increase in Decrease in restricted restricted Name of restricted restricted Reason for Date of release shares at the shares at the shareholder shares during shares during restriction from restriction beginning of end of the the period the period the period period Restricted Released from Wang shares held restriction in 01080108 Xiaocheng by senior accordance with management regulations Restricted Released from shares held restriction in Zhong Ming 177131 59044 0 236175 by senior accordance with management regulations Total 177131 59152 0 236283 -- -- II. Issuance and Listing of Securities (I) Issuance of securities during the reporting period (excluding preferred shares) □ Applicable √ Not applicable (II) Changes in the total number of shares and shareholder structure of the Company and changes in the structure of the Company’s assets and liabilities □ Applicable √ Not applicable (III) Existing internal employee shares □ Applicable √ Not applicable III. Shareholders and Actual Controller (I) Number of shareholders and shareholding Unit: Shares Total number of ordinary Total number Total number of preferred shareholders at Total number of of ordinary shareholders with restored the end of the preferred shareholders shareholders voting rights at the end of 63790 month preceding 63865 with restored voting 0 0 at the end of the month preceding the the disclosure rights at the end of the the reporting disclosure date of the date of the reporting period (if any) period annual report (if any) annual report (March 20) 1 86Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Shareholding of shareholders holding more than 5% or the top 10 shareholders (excluding shares lent through securities lending) Num Pledge ber marking or of freezing share Number of status Number of Changes s shares not Nature of Sharehold shares held at during the Name of shareholder subje subject to shareholders ing Ratio the end of the reporting ct to restricted Statu reporting period period restri conditions s of Numbe cted share r condi s tions Sichuan Changhong Electric State-owned 24.12%24845772400248457724-- Co. Ltd. legal person Hong Kong Securities Overseas 3.15%32393145+1671531032393145-- Clearing Company Limited legal person CHANGHONG (HK) Overseas 2.63%270777970027077797-- TRADING LIMITED legal person Hefei Industry Investment State-owned 1.83%188648960018864896-- Holding (Group) Co. Ltd. legal person Overseas CAOSHENGCHUN natural 1.43% 14766086 0 0 14766086 - - person Domestic Wang Jialing natural 1.18% 12200018 +12200018 0 12200018 - - person China Merchants Bank Co. Domestic Ltd. – Taikang Quality Life non-state- 0.93%9600000+620000009600000-- Hybrid Securities Investment owned legal Fund person Industrial and Commercial Domestic Bank of China Limited – non-state- Taikang Strategy Preferred 0.91% 9400000 +5600000 0 9400000 - - owned legal Flexible Allocation Hybrid person Securities Investment Fund Domestic Qian Guanghai natural 0.63% 6494382 +6494382 0 6494382 - - person 1 87Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Phillip Securities (Hong Overseas 0.61%6296913006296913-- Kong) Limited legal person Circumstances where strategic investors or general legal persons become top 10 N/A shareholders due to placement of new shares (if any) Among the above shareholders CHANGHONG (HK) TRADING LIMITED is a wholly-owned subsidiary of Sichuan Changhong Electric Co. Ltd. In addition to directly holding the Explanation of related- Company’s B shares Hong Kong Changhong also holds 6296913 B shares of the Company party relationships or through Phillip Securities (Hong Kong) Limited. Sichuan Changhong and Hong Kong acting-in-concert Changhong have a related party relationship and constitute acting-in-concert parties. The arrangements among the Company is unaware of whether there are any related party relationships among other above shareholders 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 entrusted/authorized voting rights and waiver of voting rights involving N/A the above shareholders As of December 31 2025 the Company had cumulatively repurchased 12487901 A shares through a dedicated securities Special notes on repurchase accounts among the top 10 shareholders (if any) account for repurchase via centralized bidding representing 1.2125% of the Company’s total share capital.Shareholding of the top 10 shareholders with unrestricted shares (excluding shares lent through securities lending and senior management lock-up shares) Number of Type of shares unrestricted shares held at Name of shareholder the end of the Type of shares Number reporting period RMB ordinary Sichuan Changhong Electric Co. Ltd. 248457724 248457724 shares RMB ordinary Hong Kong Securities Clearing Company Limited 32393145 32393145 shares Domestically listed CHANGHONG (HK) TRADING LIMITED 27077797 27077797 foreign shares RMB ordinary Hefei Industry Investment Holding (Group) Co. Ltd. 18864896 18864896 shares CAO SHENGCHUN 14766086 Domestically listed 14766086 1 88Changhong Meiling Co. Ltd. 2025 Annual Report Full Text foreign shares RMB ordinary Wang Jialing 12200018 12200018 shares China Merchants Bank Co. Ltd. – Taikang Quality Life Hybrid RMB ordinary 96000009600000 Securities Investment Fund shares Industrial and Commercial Bank of China Limited – Taikang Strategy RMB ordinary 94000009400000 Preferred Flexible Allocation Hybrid Securities Investment Fund shares RMB ordinary Qian Guanghai 6494382 6494382 shares Domestically listed Phillip Securities (Hong Kong) Limited 6296913 6296913 foreign shares Explanation of related party relationships or acting-in-concertSee the related explanation under “Shareholdingarrangements among the top 10 unrestricted circulating shareholders of shareholders holding more than 5% or the top and between the top 10 unrestricted circulating shareholders and the top 10 shareholders”. 10 shareholders Explanation of participation by the top 10 ordinary shareholders in margin N/A financing and securities lending (if any) Note 1: At the end of the reporting period CHANGHONG (HK) TRADING LIMITED an acting-in-concert party of the Company’s controlling shareholder Sichuan Changhong held a total of 33374710 B shares of the Company of which 27077797 B shares were directly held by CHANGHONG (HK) TRADING LIMITED and 6296913 B shares were held through Phillip Securities (Hong Kong) Limited.Note 2: In the table above the “Shareholding of shareholders holding more than 5% or thetop 10 shareholders” is based on the shareholder register data provided by the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited.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 1 89Changhong Meiling Co. Ltd. 2025 Annual Report Full Text □ Applicable √ Not applicable Whether the top 10 ordinary shareholders and the top 10 unrestricted ordinary shareholders conducted agreed repurchase transactions during the reporting period □ Yes √ No The top 10 ordinary shareholders and the top 10 unrestricted ordinary shareholders did not conduct any agreed repurchase transactions during the reporting period.(II) Company’s controlling shareholder situation 1. Nature of controlling shareholder: Locally state-owned 2. Type of controlling shareholder: Legal entity Name of Legal controllin representati Establish Organization g Principal business operations ve/head of ment date code sharehold entity er Business scope: Manufacture of household appliances; sales of household appliances; repair of daily-use appliances; manufacture of intelligent in-vehicle devices; sales of intelligent in-vehicle devices; sales of electronic products; sales of household appliance spare parts; manufacture of communication equipment; sales of communication equipment; repair of general equipment; professional repair of communication transmission equipment; manufacture of lighting equipment; sales of lighting equipment; manufacture of home products; sales of home products; repair of daily-use products; manufacture of computer software hardware and peripheral devices; retail of computer software hardware and auxiliary equipment; wholesale of computer software hardware and auxiliary equipment; maintenance of computers and office equipment; manufacture of specialized electrical machinery; sales Sichuan of mechanical equipment; repair of specialized equipment; Changhon April 8 9151070020 manufacture of electromechanical equipment; sales of electrical Liuzhou g Electric 1993 5412308D materials; sales of power facility materials; manufacture of Co. Ltd. refrigeration and air-conditioning equipment; sales of refrigeration and air-conditioning equipment; manufacture of digital video monitoring systems; manufacture of metal chains and other metal products; sales of metal products; repair of metal products; manufacture of instruments and meters; sales of instruments and meters; repair of instruments and meters; manufacture of cultural and office equipment; sales of office supplies; retail of sports goods and equipment; wholesale of sports goods and equipment; retail of stationery; wholesale of stationery; housing leasing; non-residential real estate leasing; leasing services (excluding licensed leasing services); integrated circuit design; sales of integrated circuits; software development; software sales; business management consulting; real estate development and operations; construction project contracting; IT consulting services; financial consulting; sales of chemical products (excluding licensed chemical products); import and export of goods; sales of construction materials; sales of 1 90Changhong Meiling Co. Ltd. 2025 Annual Report Full Text high-performance non-ferrous metals and alloy materials; sales of metal materials; sales of plastic products; sales of packaging materials and products; sales of electromechanical equipment; sales of metal chains and other metal products; retail and wholesale of auto parts; wholesale of electronic components; retail of electronic components; Class I value-added telecom services; Class II value- added telecom services; business agency services; advertisement production; advertisement design and agency; advertisement placement; broadcasting and television program production and operations; internet information services; video shooting and production services; audio-visual product production; manufacture of intelligent unmanned aerial vehicles; sales of intelligent unmanned aerial vehicles; manufacture of broadcasting and television equipment (excluding broadcasting and transmission equipment); manufacture of audio equipment; sales of audio equipment (subject to business scope registered with the administrative authority). 1. As of December 31 2025 Sichuan Changhong directly held 212994972 shares of Changhong Huayi Equity Compressor Co. Ltd. (Shenzhen Stock Exchange Stock Code: 000404) representing 30.60% of Changhong holdings Huayi Compressor Co. Ltd.’s equity.of the controllin 2. As of December 31 2025 Sichuan Changhong indirectly held a total of 1990518000 ordinary and g sharehold preferred shares of Changhong Jiahua Holdings Co. Ltd. (Hong Kong Stock Exchange Stock Code: 03991) er in other representing 77.44% of all ordinary and preferred shares.domestic 3. As of December 31 2025 Sichuan Changhong directly held 86258333 shares of Sichuan Changhong and Minsheng Logistics Co. Ltd. (National SME Share Transfer System Stock Code: 836237) representing overseas 70.27% of Sichuan Changhong Minsheng Logistics Co. Ltd.’s equity.listed companie 4. As of December 31 2025 Sichuan Changhong directly held 95% equity of Sichuan Changhong Innovation s during Investment Co. Ltd. while its controlling shareholder Changhong Group directly held 5%. Sichuan the Changhong Innovation Investment Co. Ltd. directly held 24068160 shares of Sichuan Huafeng Technology reporting Co. Ltd. (Shanghai Stock Exchange STAR Market Stock Code: 688629) representing 5.22% of Sichuan period Huafeng Technology Co. Ltd.’s equity. 3. Changes in controlling shareholder during the reporting period □ Applicable √ Not applicable There were no changes to the Company’s controlling shareholder during the reporting period.(III) Company’s actual controller and persons acting in concert 1. Nature of actual controller: Local state-owned assets management authority 2. Type of actual controller: Legal entity Legal representati Establish Organization Name of actual controller Principal business operations ve/head of ment date code entity Mianyang State-Owned Assets -- -- -- An institution entrusted by the 1 91Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Supervision and Administration government at the same level to Commission exercise the ownership functions of state-owned assets making decisions and managing comprehensively and supervising the assets under its jurisdiction.Equity holdings of the actual controller in other domestic and N/A overseas listed companies during the reporting period 3. Changes in actual controller during the reporting period □ Applicable √ Not applicable There were no changes to the Company’s actual controller during the reporting period. 4. Diagram of property rights and control relationship between the Company and the actual controller (as of December 31 2025) Mianyang State-Owned Assets Supervision Sichuan Provincial Department of and Administration Commission Finance 90%10% % Sichuan Changhong Electronics Holding Group C%o. Ltd. 23.22% Sichuan Changhong Elec%tric Co. Ltd. 100 % CHANGHONG (HK) TRADING LIMITED 24.12% Sich uan Sichuan 3.24% Mian Mianya Changhon%g M eiling Co. Ltd.yang ng Hon Honghu ghua an 5. Control of the Company by the actual controller through trTuescth onro lother asset management n methods Tech ogy □ Applicable √ Not applicable nolo Co.gy Ltd. 192 Co.Ltd.%Changhong Meiling Co. Ltd. 2025 Annual Report Full Text (IV) The controlling shareholder or largest shareholder and their persons acting in concert have pledged shares accounting for 80% or more of their held shares □ Applicable √ Not applicable (V) Other corporate shareholders holding more than 10% □ Applicable √ Not applicable (VI) Shareholding restriction and reduction situation of controlling shareholder actual controller restructuring party and other commitment subjects □ Applicable √ Not applicable IV. Specific Implementation of Share Repurchase During the Reporting Period (I) Progress of share repurchase implementation √ Applicable □ Not applicable Proportion of shares Percenta Purp Number of already repurchased Plan ge of Proposed Proposed ose Number of shares relative to shares disclosure total repurchase amount repurchase of shares already proposed for involved in equity date share (RMB 10000) period repur repurchased repurchase incentive plan (if capital chase any) Not less than RMB 150 million Equit May 9 2025 May 9 14058107- 1.36%- (inclusive) and not y to May 9 21201570 - 2025 28116213 2.73% more than RMB incen 2026 300 million tive (inclusive) Based on the proposal by the Company’s Chairman on April 9 2025 to repurchase A-shares the Company held the 15th meeting of the 11th Board of Directors on May 8 2025 approving the Proposal on the Plan to Repurchase the Company's A Shares. On June 3 2025 the 17th meeting of the 11th Board of Directors was held to approve the Proposal on Increasing the Source of Funds for the Repurchase of the Company's A Shares. The specific plan for repurchasing A-shares is as follows: The Company will use its own funds and self-raised funds (including special stock repurchase loans from financial institutions) of not less than RMB 150 million (inclusive) and not more than RMB 300 million (inclusive) to repurchase part of the Company’s A-shares through centralized bidding for the purpose of implementing the equity incentive plan. The repurchase price shall not exceed RMB 10.67 per share (due to the Company’s implementation of profit distribution the maximum repurchase price has been adjusted from RMB 11.00 per share (inclusive) to RMB 10.67 per share (inclusive)). The repurchase period shall be within 12 months from the date the Board of Directors approves the repurchase plan. The specific number of shares and amount repurchased shall be based on the actual number of shares and amount repurchased upon the expiration of the repurchase period or the completion of the repurchase. 1 93Changhong Meiling Co. Ltd. 2025 Annual Report Full Text On July 15 2025 the Company conducted its first A-share repurchase through a dedicated stock repurchase securities account via centralized bidding. As of the date of this announcement the Company has cumulatively repurchased 21201570 A-shares accounting for 2.0586% of the Company’s total share capital. The highest transaction price of this A-share repurchase was 7.45 RMB/share the lowest was 5.86 RMB/share with a total transaction amount of RMB 142205019.88 (excluding transaction fees). (II) Progress of reducing repurchased shares through centralized bidding □ Applicable √ Not applicable V. Preferred Share Related Situation □ Applicable √ Not applicable During the reporting period the Company had no preferred shares. 1 94Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Section VII Bond Related Situation □ Applicable √ Not applicable 1 95Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Section VIII Financial reporting I. Audit Report Type of audit opinion Standard unqualified opinion Date of audit report April 1 2026 Name of audit firm Pan-China Certified Public Accountants Audit report reference number T.J.S. [2026] No. 11-339 Name of certified public accountant Li Yuanliang and Peng Yahui Audit Report To all shareholders of Changhong Meiling Co. Ltd.: (I) Audit opinion We have audited the financial statements of Changhong Meiling Co. Ltd. (hereinafter referred to as “Changhong Meiling”) including the consolidated and parent company balance sheets as of December 31 2025 the consolidated and parent company income statements consolidated and parent company cash flow statements consolidated and parent company statements of changes in equity for the year ended December 31 2025 and the related notes to the financial statements.In our opinion the accompanying financial statements present fairly in all material respects the consolidated and parent company financial position of Changhong Meiling as of December 31 2025 and its consolidated and parent company operating results and cash flows for the year then ended in accordance with the accounting standards for enterprises.(II) Basis for forming the audit opinion We conducted our audit in accordance with the Chinese Auditing Standards for CertifiedPublic Accountants. The section “Responsibilities of certified public accountants for the audit offinancial statements” in the audit report further explains our responsibilities under these standards. 1 96Changhong Meiling Co. Ltd. 2025 Annual Report Full Text In accordance with the Code of Independence for Certified Public Accountants No. 1 — Requirements for Independence in Financial Statement Audit and Review Engagements and the Code of Ethics for Certified Public Accountants in China we are independent of Changhong Meiling and have fulfilled our other ethical responsibilities. We have complied with the independence requirements for audits of entities of public interest. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.(III) Key audit matters Key audit matters are those matters that in our professional judgment were of most significance in the audit of the current period’s financial statements. These matters were addressed in the context of our audit of the financial statements as a whole and in forming our audit opinion.We do not provide a separate opinion on these matters.(I) Operating revenue recognition 1. Matter description For related disclosures see Notes 3(30) and 5(2)1 to the financial statements.Changhong Meiling’s sales revenue primarily derives from sales of refrigerators (cabinets) air conditioners washing machines small home appliances and kitchen and bathroom appliances to domestic and overseas customers. For the year 2025 operating revenue amounted to RMB 30407.9265 million of which revenue from refrigerators (cabinets) air conditioners and washing machines amounted to RMB 28533.9002 million representing 93.84% of total operating revenue.As operating revenue is one of Changhong Meiling’s key performance indicators there is an inherent risk that management might recognize revenue inappropriately to achieve specific targets or expectations. Therefore we identified revenue recognition as a key audit matter. 2. Audit response Regarding operating revenue recognition our audit procedures mainly included: (1) Understanding the key internal controls related to revenue recognition evaluating their design determining whether they were implemented and testing the operating effectiveness of 1 97Changhong Meiling Co. Ltd. 2025 Annual Report Full Text relevant internal controls; (2) Examining sales contracts to understand key terms or conditions and evaluating whether the revenue recognition method is appropriate; (3) Performing analytical procedures on operating revenue and gross margin by month product and customer to identify significant or unusual fluctuations and investigating the causes; (4) For domestic sales revenue selecting samples to inspect supporting documents including sales contracts orders sales invoices delivery notes customer account statements and delivery receipts; for export revenue obtaining electronic port data and reconciling with accounting records and selecting samples to inspect supporting documents including sales contracts export customs declarations bills of lading and sales invoices; (5) Performing accounts receivable confirmations by selecting specific samples and sending confirmation letters to major customers regarding current period sales; (6) Performing cut-off tests to verify that revenue was recognized in the appropriate period; (7) Checking whether operating revenue-related information has been properly disclosed in the financial statements.(II) Capitalization of research and development expenditures 1. Matter description For related disclosures see Notes 3(21) 5(1)19 and 6 to the financial statements.As of December 31 2025 the Company’s R&D was focused on refrigerator washing machine and air conditioner projects. In 2025 the Company capitalized a total of RMB 239564698.54 of expenditures incurred in the process of developing patented and non-patented technologies as development costs.R&D expenditures can only be capitalized when all capitalization criteria listed in Note 3(21) are simultaneously met. Determining whether R&D expenditures meet all capitalization criteria requires significant accounting estimates and judgments by management; therefore we identified capitalization of R&D expenditures as a key audit matter. 1 98Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 2. Audit response Our audit procedures regarding capitalization of R&D expenditures mainly included: (1) Understanding the scope and accounting treatment of R&D expenditures understanding key controls over R&D capitalization and testing the operating effectiveness of relevant internal controls; (2) Understanding the Company’s accounting policies for R&D capitalization and evaluating their compliance with the relevant provisions of the accounting standards for enterprises; (3) Obtaining detailed R&D expenditure schedules performing analytical procedures selecting specific samples to inspect supporting documents for R&D expenditures evaluating whether the aggregation of R&D costs is appropriate and whether the expenditures are genuine; (4) Obtaining and examining project initiation reports small-batch trial production evaluation reports trial production review reports and acceptance reports for projects in the development stage and interviewing management to evaluate the appropriateness of management’s judgments on project feasibility and the reasonableness of capitalization timing; (5) Checking whether capitalization-related information has been appropriately disclosed in the financial statements.(IV) Other information The management of Changhong Meiling (hereinafter referred to as “management”) is responsible for other information. Other information includes information presented in the annual report but does not include the financial statements or our audit report.Our audit opinion on the financial statements does not cover other information and we do not express any form of assurance conclusion on other information.In connection with our audit of the financial statements our responsibility is to read the other information and in doing so consider whether the other information is materially inconsistent with the financial statements or appears to be materially misstated based on knowledge obtained during the audit. 1 99Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Based on the work we have performed if we identify a material misstatement of this other information we are required to report the fact. In this regard we have nothing to report.(V) Responsibilities of management and those charged with governance for the financial statements Management is responsible for the preparation of the financial statements in accordance with accounting standards for enterprises so that they fairly present the financial position and operating results and for designing implementing and maintaining internal control as management determines necessary to ensure that the financial statements are free from material misstatement whether due to fraud or error.In preparing the financial statements management is responsible for assessing Changhong Meiling’s ability to continue as a going concern disclosing matters related to going concern (as applicable) and using the going concern assumption unless management intends to liquidate cease operations or has no realistic alternative.The board of directors and supervisory committee of Changhong Meiling (hereinafter referred to as “those charged with governance”) are responsible for overseeing the Company’s financial reporting process.(VI) Responsibilities of certified public accountants for the audit of financial statements Our objective is to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement whether due to fraud or error and to issue an audit report that includes our opinion. Reasonable assurance is a high level of assurance but it does not guarantee that an audit conducted in accordance with auditing standards will always detect a material misstatement when it exists. Misstatements may arise from fraud or error and are considered material if individually or in the aggregate they could reasonably influence the economic decisions of users taken on the basis of the financial statements.In performing an audit in accordance with auditing standards we exercise professional judgment and maintain professional skepticism. At the same time we also perform the following procedures: (I) Identify and assess the risks of material misstatement of the financial statements whether 2 00Changhong Meiling Co. Ltd. 2025 Annual Report Full Text due to fraud or error design and implement audit procedures to respond to those risks and obtain sufficient and appropriate audit evidence as the basis for our audit opinion. Because fraud may involve collusion forgery intentional omissions misrepresentations or override of internal controls the risk of not detecting a material misstatement due to fraud is higher than that due to error.(II) Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances.(III) Evaluate the appropriateness of accounting policies selected by management and the reasonableness of accounting estimates and related disclosures.(IV) Conclude on the appropriateness of management’s use of the going concern assumption.At the same time based on the audit evidence obtained conclude whether there are any significant uncertainties related to events or conditions that may cast significant doubt on the ability of Changhong Meiling to continue as a going concern. If we conclude that there is a significant uncertainty auditing standards require us to draw attention in the audit report to the related disclosures in the financial statements; if such disclosures are inadequate we should express a modified opinion. Our conclusions are based on information available as of the date of the audit report. However future events or conditions may cause Changhong Meiling to be unable to continue as a going concern.(V) Evaluate the overall presentation structure and content of the financial statements including the disclosures and whether the financial statements represent the underlying transactions and events fairly.(VI) Obtain sufficient and appropriate audit evidence regarding the financial information of entities or business activities within Changhong Meiling to express an audit opinion on the financial statements. We are responsible for directing supervising and performing the group audit and bear full responsibility for the audit opinion.We communicate with those charged with governance regarding the planned scope and timing of the audit as well as significant audit findings including any significant deficiencies in 2 01Changhong Meiling Co. Ltd. 2025 Annual Report Full Text internal control identified during the audit.We also provide statements to those charged with governance regarding compliance with ethical requirements related to independence and communicate with them about all relationships and other matters that may reasonably be thought to bear on our independence as well as related safeguards (if applicable).From the matters communicated with those charged with governance we determine which matters were of most significance in the audit of the current period financial statements and thus constitute key audit matters. We describe these matters in the audit report unless law or regulation prohibits public disclosure of the matter or in the rare circumstances where the adverse consequences of communicating a matter in the audit report would reasonably be expected to outweigh the public interest benefits of such communication we determine that the matter should not be communicated in the audit report.Pan-China Certified Public Accountants LLP Chinese Certified Public Accountants: Li Yuanliang (Project Partner) Hangzhou China Chinese Certified Public Accountants: Peng Yahui April 1 2026 2 02Changhong Meiling Co. Ltd. 2025 Annual Report Full Text II. Financial Statements (I) Consolidated balance sheet Prepared by: Changhong Meiling Co. Ltd.December 31 2025 Unit: RMB Items Ending balance Beginning balance Current Assets: Cash and cash equivalents 10186661869.94 10492450750.61 Settlement reserve Funds lent Trading financial assets Derivative financial assets 61841784.71 72010074.43 Notes receivable Accounts receivable 2014944491.33 1527978374.48 Accounts receivable financing 409930586.39 1516987953.83 Prepayments 92667517.48 60352345.27 Premiums receivable Reinsurance receivables Reinsurance contract reserves receivable Other receivables 41558190.51 135391270.79 Including: Interest receivable Dividends receivable 12124951.70 Financial assets purchased under resale agreements Inventory 2079744997.60 3514968009.34 Including: Data resources Contract assets 725425.50 2763866.97 Assets held for sale Non-current Assets Due within One 659796120.7160242921.84 Year Other Current Assets 372910923.88 562030362.98 Total current assets 15920781908.05 17945175930.54 Non-Current Assets: Loans and advances Debt Investments 1661029964.49 1474153793.17 Other debt investments Long-term receivables Long-term Equity Investments 88148806.34 81511146.82 20 3Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Items Ending balance Beginning balance Other equity instrument investments Other Non-current Financial Assets 661832269.76 676094304.44 Investment Properties 63387835.97 66720850.69 Fixed assets 2276129362.07 2218850660.12 Construction in progress 127282346.90 97807983.40 Productive biological assets Oil and gas assets Right-of-use assets 132921569.77 113784190.78 intangible assets 1031493131.01 994429966.05 Including: Data resources Development Expenditures 158231792.93 74710694.74 Including: Data resources Goodwill Long-term Deferred Expenses 26427371.81 33336772.23 Deferred tax assets 128269696.72 176953941.27 Other Non-current Assets 26856492.34 19073662.23 Total non-current assets 6382010640.11 6027427965.94 Total assets 22302792548.16 23972603896.48 Current Liabilities: Short-term borrowings 810099931.94 766747286.01 Borrowings from central bank Funds borrowed Trading financial liabilities Derivative financial liabilities 38804849.55 156359680.92 Notes payable 7004658556.59 7934125435.65 Accounts payable 4934324141.76 6132020588.41 Advances Received 20340.81 11085.70 Contract liabilities 871792341.16 609737871.24 Financial assets sold under repurchase agreements Deposits and interbank placements Securities sold for clients Securities underwriting payables Employee Benefits Payable 382124656.03 389952777.46 Taxes Payable 63147720.26 95871539.98 Other payables 1154695090.66 1031439412.53 Including: Interest payable 20 4Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Items Ending balance Beginning balance Dividends payable 7492505.08 6005989.72 Fees and commissions payable Reinsurance payables Liabilities held for sale Non-current Liabilities Due within 46005202.8329135164.68 One Year Other current liabilities 54001977.67 23824389.50 Total current liabilities 15359674809.26 17169225232.08 Non-Current Liabilities: Insurance contract reserves Long-term Borrowings 111178667.25 Bonds payable Including: Preferred shares Perpetual bonds Lease liabilities 114402511.69 101826405.91 Long-term Payables 117944.72 455409.20 Long-term Employee Benefits Payable 9021087.36 10195289.45 Estimated liabilities 33463947.66 45030417.22 Deferred income 139056707.76 125435177.90 Deferred tax liabilities 44604488.14 44072593.30 Other non-current liabilities Total non-current liabilities 451845354.58 327015292.98 Total Liabilities 15811520163.84 17496240525.06 Owners’ equity: Share capital 1029923715.00 1029923715.00 Other equity instruments Including: Preferred shares Perpetual bonds Capital Reserves 2749778298.08 2750470215.39 Less: Treasury shares 86960746.82 Other Comprehensive Income -23780049.29 -21222419.68 Special Reserve 38391282.14 20968173.59 Surplus Reserves 551363051.46 502454071.02 General risk reserves Undistributed Profits 1824833314.77 1803207185.06 Total equity attributable to owners of 6083548865.346085800940.38 the parent company Minority Interests 407723518.98 390562431.04 Total owners’ equity 6491272384.32 6476363371.42 20 5Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Items Ending balance Beginning balance Total liabilities and owners’ equity 22302792548.16 23972603896.48 Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting department: Hu Xiangfei (II) Parent company balance sheet Unit: RMB Items Ending balance Beginning balance Current Assets: Cash and cash equivalents 5227412310.50 3939389057.28 Trading financial assets Derivative financial assets 16474431.94 19821438.48 Notes receivable Accounts receivable 1554041336.79 833235885.99 Accounts receivable financing 225674059.90 1442869017.45 Prepayments 73951074.09 48554780.33 Other receivables 51935773.67 149182032.46 Including: Interest receivable Dividends receivable 12124951.70 Inventory 576351186.23 666268187.19 Including: Data resources Contract assets Assets held for sale Non-current Assets Due within One 374350138.90 Year Other Current Assets 72693514.63 291466689.98 Total current assets 8172883826.65 7390787089.16 Non-Current Assets: Debt Investments 629248972.23 925585208.34 Other debt investments Long-term receivables Long-term Equity Investments 2160381891.11 2063325214.07 Other equity instrument investments Other Non-current Financial Assets 634994940.53 641137345.26 Investment Properties 2917327.20 3126179.84 Fixed assets 1137595333.42 1053825318.71 Construction in progress 81739990.71 59788586.47 Productive biological assets 20 6Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Items Ending balance Beginning balance Oil and gas assets Right-of-use assets 11061533.67 12954326.53 intangible assets 412054635.76 442210732.72 Including: Data resources Development Expenditures 56318184.77 38924294.89 Including: Data resources Goodwill Long-term Deferred Expenses 13512702.32 17709281.58 Deferred tax assets 55955783.77 95484746.18 Other Non-current Assets 638649.57 638649.57 Total non-current assets 5196419945.06 5354709884.16 Total assets 13369303771.71 12745496973.32 Current Liabilities: Short-term borrowings 790087037.50 746224022.12 Trading financial liabilities Derivative financial liabilities 9617770.37 35876471.02 Notes payable 3054844738.48 2977167497.82 Accounts payable 2230669156.46 2256196451.43 Advances Received Contract liabilities 245110743.84 175438827.79 Employee Benefits Payable 135022614.12 107686556.89 Taxes Payable 11100484.90 17041928.43 Other payables 1220597373.30 943872547.30 Including: Interest payable Dividends payable 6892505.08 5405989.72 Liabilities held for sale Non-current Liabilities Due within 7908582.452368977.68 One Year Other current liabilities 6984980.72 7744840.19 Total current liabilities 7711943482.14 7269618120.67 Non-Current Liabilities: Long-term Borrowings 103556925.00 Bonds payable Including: Preferred shares Perpetual bonds Lease liabilities 11100858.46 12915911.24 Long-term Payables Long-term Employee Benefits Payable 4283925.97 5434796.15 Estimated liabilities 4708371.09 12165219.71 20 7Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Items Ending balance Beginning balance Deferred income 107099909.97 81760946.33 Deferred tax liabilities 15601084.71 15926816.74 Other non-current liabilities Total non-current liabilities 246351075.20 128203690.17 Total Liabilities 7958294557.34 7397821810.84 Owners’ equity: Share capital 1029923715.00 1029923715.00 Other equity instruments Including: Preferred shares Perpetual bonds Capital Reserves 2601775532.74 2601775532.74 Less: Treasury shares 86960746.82 Other Comprehensive Income Special Reserve 1079820.26 Surplus Reserves 551144885.78 502235905.34 Undistributed Profits 1314046007.41 1213740009.40 Total owners’ equity 5411009214.37 5347675162.48 Total liabilities and owners’ equity 13369303771.71 12745496973.32 Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting department: Hu Xiangfei (III) Consolidated income statement Unit: RMB Items 2025 2024 I. Total operating revenue 30407926517.70 28601036014.96 Including: Operating Revenue 30407926517.70 28601036014.96 Interest income Earned premiums Fee and commission income II. Total operating costs 30069575347.93 27829543526.32 Including: Operating cost 27214612134.10 25411275203.27 Interest expense Fee and commission expense Surrender payments Net claims expense Net increase in insurance contract reserves Policyholder dividends paid Reinsurance expenses 20 8Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Items 2025 2024 Taxes and Surcharges 111392604.94 112742900.98 Selling Expenses 1608870608.09 1477154043.38 Administrative Expenses 409105468.67 359672540.20 Research and Development Expenses 727971952.33 637242233.83 Financial Expenses -2377420.20 -168543395.34 Including: Interest expenses 34329146.73 24540000.01 Interest income 129148403.43 182415110.59 Add: Other Income 146707659.69 196071087.54 Investment income (losses indicated with “–”) 57151933.74 35709856.70 Including: Share of profit of associates and joint 7312450.479165103.88 ventures Gains on derecognition of financial assets -26124205.65-38661658.21 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 “– 110668505.27-87184652.30 ”) Credit impairment losses (losses indicated with “–”) 7891988.09 14901780.81 Asset impairment losses (losses indicated with “–”) -110102556.54 -116583058.63 Gains on disposal of assets (losses indicated with “–”) 107824.82 160661.55 III. Operating profit (losses indicated with “–”) 550776524.84 814568164.31 Add: Non-operating Income 10078947.82 10938462.86 Less: Non-operating Expenses 13438803.36 11928863.23 IV. Total profit (total losses indicated with “–”) 547416669.30 813577763.94 Less: Income tax expenses 117578648.84 88910261.07 V. Net profit (net losses indicated with “–”) 429838020.46 724667502.87 (I) Classified by continuity of operations 1. Net profit from continuing operations (net losses indicated 429838020.46724667502.87 with “–”) 2. Net profit from discontinued operations (net losses indicated with “–”) (II) Classified by ownership 1. Net profit attributable to shareholders of the parent company 410409936.09 699270051.82 2. Profit or loss attributable to minority shareholders 19428084.37 25397451.05 VI. Net of tax of other comprehensive income -2641411.05 -465244.39 Other comprehensive income net of tax attributable to owners -2557629.61-518057.63 of the parent company (I) Other comprehensive income not reclassifiable to profit or loss 1. Remeasurements of defined benefit plans 20 9Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Items 2025 2024 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 or -2557629.61-518057.63 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 difference -2557629.61 -518057.63 7. Others Other comprehensive income net of tax attributable to minority -83781.4452813.24 shareholders VII. Total Comprehensive Income 427196609.41 724202258.48 Total comprehensive income attributable to owners of the parent 407852306.48698751994.19 company Total comprehensive income attributable to minority 19344302.9325450264.29 shareholders VIII. Earnings per share (I) Basic earnings per share 0.3996 0.6790 (II) Diluted earnings per share 0.3996 0.6790 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 (III) Parent company income statement Unit: RMB Items 2025 2024 I. Operating Revenue 9813010778.29 10332554876.58 Less: Operating cost 8686350484.53 9451034846.99 Taxes and Surcharges 44971224.14 45865395.79 Selling Expenses 294442713.03 235254055.13 Administrative Expenses 146511092.81 131613837.20 Research and Development Expenses 404883777.91 320054920.88 Financial Expenses -5158244.99 -55380238.83 21 0Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Including: Interest expenses 18619420.62 15040671.80 Interest income 37889060.84 81778925.78 Add: Other Income 53959793.71 34545492.77 Investment income (losses indicated with “–”) 226210943.83 76459962.63 Including: Share of profit of associates and joint 8731467.998398963.65 ventures Gains on derecognition of financial assets -4865452.40-9688921.63 measured at amortized cost (losses indicated with “–”) Net hedging gains (losses indicated with “–”)Gains from changes in fair value (losses indicated with “– 26551724.53-17915256.16 ”) Credit impairment losses (losses indicated with “–”) 1243997.70 3500641.91 Asset impairment losses (losses indicated with “–”) -20056989.30 -24234772.55 Gains on disposal of assets (losses indicated with “–”) -3245.66 3044.16 II. Operating profit (losses indicated with “–”) 528915955.67 276471172.18 Add: Non-operating Income 1101843.10 594900.34 Less: Non-operating Expenses 1724764.00 3573902.82 III. Total profit (total losses indicated with “–”) 528293034.77 273492169.70 Less: Income tax expenses 39203230.38 19483407.70 IV. Net profit (net losses indicated with “–”) 489089804.39 254008762.00 (I) Net profit from continuing operations (net losses indicated 489089804.39254008762.00 with “–”) (II) Net profit from discontinued operations (net losses indicated with “–”) V. Net of tax of other comprehensive income (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 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 difference 21 1Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 7. Others VI. Total Comprehensive Income 489089804.39 254008762.00 VII. Earnings per share (I) Basic earnings per share 0.4763 0.2466 (II) Diluted earnings per share 0.4763 0.2466 Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting department: Hu Xiangfei (V) Consolidated cash flow statement Unit: RMB Items 2025 2024 I. Cash flows from operating activities: Cash received from sale of goods and provision of services 34340235203.10 31497336084.34 Net increase in customer deposits and interbank placements Net increase in borrowings from the 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 1303063010.40 1035628999.48 Other Cash Received Relating to Operating Activities 172997865.19 133495520.84 Subtotal of Cash Inflows from Operating Activities 35816296078.69 32666460604.66 Cash paid for purchase of goods and services received 31141261484.78 25054928387.36 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 employees 2137837983.35 2103869806.96 Cash paid for various taxes 543170716.44 403412758.30 Other Cash Paid Relating to Operating Activities 1133935387.41 1133992434.08 Subtotal of Cash Outflows from Operating Activities 34956205571.98 28696203386.70 Net cash flows generated from operating activities 860090506.71 3970257217.96 21 2Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Items 2025 2024 II. Cash flows from investing activities: Cash received from investment recovery 30466761598.30 13508000000.00 Cash received from investment income 96871749.37 60849394.98 Net cash received from disposal of fixed assets intangible 3085461.153354735.13 assets and other long-term assets Net cash received from disposal of subsidiaries and other business units Other Cash Received Relating to Investing Activities 157868215.44 196402523.43 Subtotal of Cash Inflows from Investing Activities 30724587024.26 13768606653.54 Cash paid for acquisition and construction of fixed assets 426184027.69324899569.37 intangible assets and other long-term assets Cash paid for investments 31010122064.00 15117895464.58 Net increase in pledged loans Net cash paid to acquire subsidiaries and other business units Other Cash Paid Relating to Investing Activities 136327389.27 21299366.89 Subtotal of Cash Outflows from Investing Activities 31572633480.96 15464094400.84 Net Cash Flows from Investing Activities -848046456.70 -1695487747.30 III. Cash flows from financing activities: Cash received from capital contributions Including: Cash received from minority shareholders’ investment in subsidiaries Cash received from borrowings 3302299558.07 2356263587.01 Other Cash Received Relating to Financing Activities 434544250.89 246479246.91 Subtotal of Cash Inflows from Financing Activities 3736843808.96 2602742833.92 Cash paid for repayment of debts 3157616929.13 2863465327.65 Cash paid for dividends profit distribution or interest 370914041.67 337885485.36 Including: Dividends and profit paid to minority shareholders 4066474.725083093.40 by subsidiaries Other Cash Paid Relating to Financing Activities 439404616.79 110281026.17 Subtotal of Cash Outflows from Financing Activities 3967935587.59 3311631839.18 Net Cash Flows from Financing Activities -231091778.63 -708889005.26 IV. Effect of exchange rate changes on cash and cash equivalents 2810183.59 19040332.09 V. Net increase in cash and cash equivalents -216237545.03 1584920797.49 Add: Cash and cash equivalents at beginning of period 9976098734.11 8391177936.62 VI. Ending balance of cash and cash equivalents 9759861189.08 9976098734.11 Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting department: Hu Xiangfei (VI) Parent company cash flow statement Unit: RMB Items 2025 2024 21 3Changhong Meiling Co. Ltd. 2025 Annual Report Full Text I. Cash flows from operating activities: Cash received from sale of goods and provision of services 10385996765.21 10717024476.32 Tax refunds received 462341306.29 482117381.83 Other Cash Received Relating to Operating Activities 101466797.09 60704809.80 Subtotal of Cash Inflows from Operating Activities 10949804868.59 11259846667.95 Cash paid for purchase of goods and services received 8816218287.39 9054439591.12 Cash paid to and on behalf of employees 525540463.99 555653802.87 Cash paid for various taxes 61050776.22 64481802.14 Other Cash Paid Relating to Operating Activities 321265932.46 320519228.73 Subtotal of Cash Outflows from Operating Activities 9724075460.06 9995094424.86 Net cash flows generated from operating activities 1225729408.53 1264752243.09 II. Cash flows from investing activities: Cash received from investment recovery 15802000035.15 6888000000.00 Cash received from investment income 219000146.19 73566793.59 Net cash received from disposal of fixed assets intangible assets 1533121.65528490.00 and other long-term assets Net cash received from disposal of subsidiaries and other business units Other Cash Received Relating to Investing Activities 54724945.26 76881804.89 Subtotal of Cash Inflows from Investing Activities 16077258248.25 7038977088.48 Cash paid for acquisition and construction of fixed assets 226992548.22165621042.85 intangible assets and other long-term assets Cash paid for investments 15729000000.00 8091282909.96 Net cash paid to acquire subsidiaries and other business units Other Cash Paid Relating to Investing Activities 34874526.05 5392311.69 Subtotal of Cash Outflows from Investing Activities 15990867074.27 8262296264.50 Net Cash Flows from Investing Activities 86391173.98 -1223319176.02 III. Cash flows from financing activities: Cash received from capital contributions Cash received from borrowings 3124643747.01 2023749317.81 Other Cash Received Relating to Financing Activities 365073295.97 5141249.61 Subtotal of Cash Inflows from Financing Activities 3489717042.98 2028890567.42 Cash paid for repayment of debts 2977252269.13 2555295723.05 Cash paid for dividends profit distribution or interest 356096272.05 322879236.79 Other Cash Paid Relating to Financing Activities 247000035.63 49918200.78 Subtotal of Cash Outflows from Financing Activities 3580348576.81 2928093160.62 Net Cash Flows from Financing Activities -90631533.83 -899202593.20 IV. Effect of exchange rate changes on cash and cash equivalents 2986176.98 -6776238.15 V. Net increase in cash and cash equivalents 1224475225.66 -864545764.28 Add: Cash and cash equivalents at beginning of period 3881601972.71 4746147736.99 VI. Ending balance of cash and cash equivalents 5106077198.37 3881601972.71 21 4Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 21 5Changhong Meiling Co. Ltd. 2025 Annual Report Full Text (VII) Consolidated statement of changes in equity Current period amount Unit: RMB 2025 Equity Attributable to Owners of the Parent Company Other equity instrum ents P G r P e e e n f r er O Items e p al tLess: Other Minority Total owners’ r e O Special Surplus ri Undistributed hShare capital Capital Reserves Treasury Comprehensiv Subtotal Interests equity r t t Reserve Reserves s Profits eshares e Income e u h k r d a e re s l r se s b s rv h o es a n r d e s s I. Balance at end of previous 1029923715.00 2750470215.39 -21222419.68 20968173.59 502454071.02 1803207185.06 6085800940.38 390562431.04 6476363371.42 year Add: 21 6Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Changes in accounting policies Corre ction of prior period errors Busin ess combination under common control Other s II. Balance at beginning of 2750470215.39 -21222419.68 20968173.59 502454071.02 1803207185.06 6085800940.38 390562431.04 6476363371.42 1029923715.00 current year III.Increase/decrea se during the period -691917.31 86960746.82 -2557629.61 17423108.55 48908980.44 21626129.71 -2252075.04 17161087.94 14909012.90 (decreases indicated with “–”) (I) Total Comprehensive -2557629.61 410409936.09 407852306.48 19344302.93 427196609.41 Income (II) Contributions -691917.3186960746.82-87652664.13691917.31-86960746.82 and reductions in capital 1. Common 86960746.82 -86960746.82 -86960746.82 21 7Changhong Meiling Co. Ltd. 2025 Annual Report Full Text stock contributed by owners 2. Capital contributions by other equity instrument holders 3. Amounts credited to owners’ equity for share-based payments 4. Others -691917.31 -691917.31 691917.31 (III) Profit 48908980.44-388783806.38-339874825.94-4066474.72-343941300.66 distribution 1. Appropriation 48908980.44-48908980.44 to surplus reserves 2. Appropriation of general risk reserves 2. Distribution to owners (or -339874825.94 -339874825.94 -4066474.72 -343941300.66 shareholders) 4. Others (IV) Internal transfers of owners’ equity 21 8Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 1. Capital reserve transferred to capital (or share capital) 2. Surplus reserve transferred to capital (or share capital) 3. Surplus reserve to offset losses 4. Remeasurement s of defined benefit plans transferred to retained earnings 5. Other comprehensive income transferred to retained earnings 6. Others (V) Special 17423108.5517423108.551191342.4218614450.97 reserves 1. Appropriated 38803124.5338803124.531894133.7640697258.29 during the 21 9Changhong Meiling Co. Ltd. 2025 Annual Report Full Text period 2. Used during 21380015.9821380015.98702791.3422082807.32 the period (VI) Others IV. Balance at end of current 1029923715.00 2749778298.08 86960746.82 -23780049.29 38391282.14 551363051.46 1824833314.77 6083548865.34 407723518.98 6491272384.32 period Previous period amount Unit: RMB 2024 Equity Attributable to Owners of the Parent Company Other L G equity e e instrume s n nts s: e P P T r r e r a e r e l O Items f p a r tOther Minority Total owners’ Share capital e e O s Special Surplus i Undistributed h Capital Reserves Comprehensive Subtotal Interests equity r t t u Reserve Reserves s Profits eIncome r u h r k r e a e y s d l r s r b s h e s o a s h n r e a d e r r s s v 22 0Changhong Meiling Co. Ltd. 2025 Annual Report Full Text e e s s I. Balance at end of 1029923715.002805503457.77-20704362.0511246811.91477053194.821521759836.645824782654.09369252132.376194034786.46 previous year Add: Changes in accounting policies Correction of prior period errors Business combination under 320000000.00 -83444712.70 236555287.30 236555287.30 common control Others II. Balance at beginning of current 1029923715.00 3125503457.77 -20704362.05 11246811.91 477053194.82 1438315123.94 6061337941.39 369252132.37 6430590073.76 year III.Increase/decrease during the period -375033242.38 -518057.63 9721361.68 25400876.20 364892061.12 24462998.99 21310298.67 45773297.66 (decreases indicated with “–”) (I) Total Comprehensive -518057.63 699270051.82 698751994.19 25450264.29 724202258.48 Income (II) Contributions and reductions in -375033242.38 -375033242.38 -375033242.38 capital 22 1Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 1. Common stock contributed by owners 2. Capital contributions by other equity instrument holders 3. Amounts credited to owners’ equity for share-based payments 4. Others -375033242.38 -375033242.38 -375033242.38 (III) Profit 25400876.20-334377990.70-308977114.50-5083093.40-314060207.90 distribution 1. Appropriation to 25400876.20-25400876.20 surplus reserves 2. Appropriation of general risk reserves 2. Distribution to owners (or -308977114.50 -308977114.50 -5083093.40 -314060207.90 shareholders) 4. Others (IV) Internal transfers of owners’ equity 1. Capital reserve transferred to capital (or share capital) 22 2Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 2. Surplus reserve transferred to capital (or share capital) 3. Surplus reserve to offset losses 4. Remeasurements of defined benefit plans transferred to retained earnings 5. Other comprehensive income transferred to retained earnings 6. Others (V) Special reserves 9721361.68 9721361.68 943127.78 10664489.46 1. Appropriated 40415747.6040415747.601758422.5142174170.11 during the period 2. Used during the 30694385.9230694385.92815294.7331509680.65 period (VI) Others IV. Balance at end of 1029923715.002750470215.39--21222419.6820968173.59502454071.021803207185.066085800940.38390562431.046476363371.42 current period Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting department: Hu Xiangfei (VIII) Parent company statement of changes in equity 22 3Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Current period amount Unit: RMB 2025 Other equity instruments Pe Other rp Comp Items Pref et Less: Treasury rehens Undistributed Other Total owners’ Share capital erre Ot Capital Reserves Special Reserve Surplus Reserves ua shares ive Profits s equity d he l Incom shar rs bo e es nd s I. Balance at end of previous year 1029923715.00 2601775532.74 502235905.34 1213740009.40 5347675162.48 Add: Changes in accounting policies Correction of prior period errors Others II. Balance at beginning of current year 1029923715.00 2601775532.74 502235905.34 1213740009.40 5347675162.48 III. Increase/decrease during the period 86960746.821079820.2648908980.44100305998.0163334051.89 (decreases indicated with “–”) (I) Total Comprehensive Income 489089804.39 489089804.39 (II) Contributions and reductions in capital 86960746.82 -86960746.82 1. Common stock contributed by owners 86960746.82 -86960746.82 2. Capital contributions by other equity instrument holders 3. Amounts credited to owners’ equity for share-based payments 4. Others 22 4Changhong Meiling Co. Ltd. 2025 Annual Report Full Text (III) Profit distribution 48908980.44 -388783806.38 -339874825.94 1. Appropriation to surplus reserves 48908980.44 -48908980.44 2. Distribution to owners (or shareholders) -339874825.94 -339874825.94 3. Others (IV) Internal transfers of owners’ equity 1. Capital reserve transferred to capital (or share capital) 2. Surplus reserve transferred to capital (or share capital) 3. Surplus reserve to offset losses 4. Remeasurements of defined benefit plans transferred to retained earnings 5. Other comprehensive income transferred to retained earnings 6. Others (V) Special reserves 1079820.26 1079820.26 1. Appropriated during the period 9981708.24 9981708.24 2. Used during the period 8901887.98 8901887.98 (VI) Others IV. Balance at end of current period 1029923715.00 2601775532.74 86960746.82 1079820.26 551144885.78 1314046007.41 5411009214.37 Previous period amount Unit: RMB 2024 Items Other equity Less: Other Undistributed Othe Total owners’ Share capital Capital Reserves Special Reserve Surplus Reserves instruments Treasury Compre Profits rs equity 22 5Changhong Meiling Co. Ltd. 2025 Annual Report Full Text Pe shares hensive rp Income Pref et erre Ot ua d he l shar rs bo es nd s I. Balance at end of previous year 1029923715.00 2740508510.57 505111.75 476835029.14 1294109238.10 5541881604.56 Add: Changes in accounting policies Correction of prior period errors Others II. Balance at beginning of current year 1029923715.00 2740508510.57 505111.75 476835029.14 1294109238.10 5541881604.56 III. Increase/decrease during the period -138732977.83-505111.7525400876.20-80369228.70-194206442.08 (decreases indicated with “–”) (I) Total Comprehensive Income 254008762.00 254008762.00 (II) Contributions and reductions in capital -138732977.83 -138732977.83 1. Common stock contributed by owners - 2. Capital contributions by other equity instrument holders 3. Amounts credited to owners’ equity for share-based payments 4. Others -138732977.83 -138732977.83 (III) Profit distribution 25400876.20 -334377990.70 -308977114.50 1. Appropriation to surplus reserves 25400876.20 -25400876.20 2. Distribution to owners (or shareholders) -308977114.50 -308977114.50 3. Others (IV) Internal transfers of owners’ equity 22 6Changhong Meiling Co. Ltd. 2025 Annual Report Full Text 1. Capital reserve transferred to capital (or share capital) 2. Surplus reserve transferred to capital (or share capital) 3. Surplus reserve to offset losses 4. Remeasurements of defined benefit plans transferred to retained earnings 5. Other comprehensive income transferred to retained earnings 6. Others (V) Special reserves -505111.75 -505111.75 1. Appropriated during the period 10305674.40 10305674.40 2. Used during the period 10810786.15 10810786.15 (VI) Others IV. Balance at end of current period 1029923715.00 2601775532.74 - - 502235905.34 1213740009.40 5347675162.48 Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting department: Hu Xiangfei 22 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) I. Basic Information of the Company Changhong Meiling Co. Ltd. (hereinafter referred to as the Company) previously known as Hefei Meiling Co. Ltd. was established as a joint-stock company on June 12 1992 upon approval by the former Anhui Provincial Commission for Restructuring the Economic System (W.T.G.H.Z. [1992] No. 039) through the restructuring of Hefei Meiling Refrigerator General Factory. On August 30 1993 upon approval by the People’s Government of Anhui Province (W.Z.M. [1993] No. 166) and the China Securities Regulatory Commission (hereinafter referred to as the CSRC) (Z.J.F.S.Z. [1993] No. 27) the Company publicly issued 30000000 A shares to the public for the first time which were listed on the Shenzhen Stock Exchange on October 18 1993. On August 13 1996 upon approval by the CSRC (Z.W.F.[1996] No. 26) the Company issued 100000000 B shares to overseas investors which were listed and traded on the Shenzhen Stock Exchange on August 28 1996.Upon approval by the State-owned Assets Supervision and Administration Commissionof the State Council (SASAC) (G.Z.C.Q. [2007] No. 253) in the “Reply on Issues Concerningthe Transfer of Part of State-owned Shares of Hefei Meiling Co. Ltd.” Hefei Meiling Group Holdings Limited (hereinafter referred to as the former Meiling Group) transferred 37852683 state-owned shares out of the 82852683 state-owned shares it held in the Company to Sichuan Changhong Electronics Holding Group Co. Ltd. (hereinafter referred to as Changhong Group) and 45000000 shares to Sichuan Changhong Electric Co. Ltd.(hereinafter referred to as Sichuan Changhong). The registration and title transfer procedures for the above-mentioned equity transfer were completed on August 15 2007.On August 27 2007 upon approval by the State-owned Assets Supervision and Administration Commission of Anhui Provincial People’s Government (W.G.Z.C.Q.H. [2007] No. 309) in the “Reply on Issues Concerning the Share Reform of Hefei Meiling Co. Ltd.” the Company implemented a share split reform plan whereby non-tradable shareholders paid 1.5 shares for every 10 shares held by A-share tradable shareholders as consideration and the former Meiling Group advanced 3360329 shares as consideration on behalf of certain non- 22 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) tradable shareholders.On May 29 2008 according to the “Notice on the Gratuitous Transfer of State-ownedShares of Meiling Electric Held by Meiling Group” (H.G.Z.C.Q. [2008] No. 59) issued by the State-owned Assets Supervision and Administration Commission of Hefei 34359384 state- owned shares held by the former Meiling Group (including 3360329 state-owned shares advanced by the former Meiling Group for other non-tradable shareholders during the share reform) were gratuitously transferred to Hefei Xingtai Holding Group Co. Ltd. (hereinafter referred to as Xingtai Holding). On August 7 2008 the SASAC (G.Z.C.Q. [2007] No. 752)approved the above-mentioned transfer in the “Reply on Issues Concerning the GratuitousTransfer of Shares Held by Some State-owned Shareholders of Hefei Meiling Co. Ltd.” On October 29 2008 Changhong Group and Sichuan Changhong entered into the “Equity Transfer Agreement of Hefei Meiling Co. Ltd.” pursuant to which Changhong Group transferred 32078846 restricted tradable A shares of the Company (accounting for 7.76% of the total share capital) to Sichuan Changhong by agreement. On December 23 2008the SASAC approved the aforesaid transfer in the “Reply on Issues Concerning the Transferof Shares Held by State-owned Shareholders of Hefei Meiling Co. Ltd.” (G.Z.C.Q. [2008] No. 1413).On December 24 2010 upon deliberation and approval at the 32nd meeting of the 6th session of the Board of Directors and the second extraordinary general meeting of shareholders in 2010 and upon approval by the China Securities Regulatory Commission (Z.J.X.K. [2010] No. 1715) the Company issued 116731500 RMB ordinary shares (A shares) to specific investors through a non-public offering at an issue price of RMB 10.28 per share.The total proceeds raised amounted to RMB 1199999820 and the net proceeds after deducting issuance expenses of RMB 22045500 amounted to RMB 1177954320 of which RMB 116731500 was recorded as share capital and RMB 1061106088.50 was recorded as capital reserve (share premium). The capital increase was verified by ShineWing Certified 22 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Public Accountants Co. Ltd. with the Capital Verification Report (No. XYZH- 2010CDA6021). On June 20 2011 the Company’s general meeting of shareholders deliberated and approved the profit distribution plan for 2010. Based on the total share capital of 530374449 shares as at December 31 2010 the Company distributed 2 bonus shares for every 10 shares and paid a cash dividend of RMB 0.5 (tax inclusive) for every 10 shares to all shareholders.After the profit distribution the total share capital of the Company increased to 636449338 shares. The capital increase was verified by Anhui Huashen Zhengda Certified Public Accountants with the Capital Verification Report (W.H.S.Z.D.K.Y.Z. [2011] No. 141).On June 26 2012 the Company’s general meeting of shareholders deliberated and approved the profit distribution and capital reserve capitalization plan for 2011. Based on the total share capital of 636449338 shares as at December 31 2011 the Company implemented a capitalization of capital reserve by converting 2 shares for every 10 shares held by all shareholders and paid a cash dividend of RMB 0.5 (tax inclusive) for every 10 shares. After the implementation of the capitalization of capital reserve the total share capital of the Company increased from 636449338 shares to 763739205 shares which was verified by Anhui Anlian Xinda Certified Public Accountants Co. Ltd. with the Capital Verification Report (W.A.L.X.D.Y.Z. [2012] No. 093).On November 18 2015 upon deliberation and approval at the 12th meeting of the 8th session of the Board of Directors and the first extraordinary general meeting of shareholders in 2016 and upon approval by the China Securities Regulatory Commission (Z.J.X.K. [2016]No. 1396) in the “Reply on Approving the Non-public Offering of Shares of Hefei MeilingCo. Ltd.” the Company issued no more than 334042553 new shares through a non-public offering with a par value of RMB 1 per share and an issue price not lower than RMB 4.70 per share. The total proceeds raised amounted to RMB 1569999998.84 and the net proceeds after deducting issuance expenses of RMB 29267276.08 amounted to RMB 23 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) 1540732722.76 of which RMB 280858676.00 was recorded as share capital and RMB 1259874046.76 was recorded as capital reserve (share premium). The capital increase was verified by ShineWing Certified Public Accountants (Special General Partnership) with the Capital Verification Report (No. XYZH2016CDA40272).The Company commenced share repurchase on November 4 2020. As of February 18 2022 the Company had cumulatively repurchased 14674166 B shares through centralized bidding via a dedicated securities account for share repurchase and completed the cancellation procedures of the repurchased shares with Shenzhen Branch of China Securities Depository and Clearing Corporation Limited on March 2 2022 with a total of 14674166 B shares cancelled accounting for 1.4048% of the total share capital before cancellation. Upon completion of the cancellation the total share capital of the Company decreased from 1044597881 shares to 1029923715 shares. As of December 31 2025 the total share capital of the Company was 1029923715 shares all of which were ordinary shares. Among them A shares amounted to 881733881 shares accounting for 85.61% of the total share capital and B shares amounted to 148189834 shares accounting for 14.39% of the total share capital. The share capital structure is as follows: Category of Shares Number Proportion (%) (I) Shares subject to selling 62132370.60 restrictions 1. Shares held by the State 2. Shares held by state-owned legal 11410530.11 persons 3. Shares held by other domestic 50721840.49 investors Including: Shares held by domestic 33635390.33 legal persons Shares held by domestic 17086450.16 natural persons 23 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Category of Shares Number Proportion (%) 4. Shares held by foreign investors (II) Shares not subject to selling 102371047899.40 restrictions 1. RMB ordinary shares 875520644 85.01 2. Domestically listed foreign shares 148189834 14.39 3. Overseas listed foreign shares 4. Others Total shares 1029923715 100.00 The Company belongs to the electrical machinery and equipment manufacturing industry and is currently principally engaged in the production and sales of refrigerators freezers air conditioners and washing machines. The unified social credit code of the Company is 9134000014918555XK; the registered office is No. 2163 Lianhua Road Economic and Technological Development Zone Hefei Anhui Province; its legal representative is Li Xiaodong; its registered capital (paid-in capital) is RMB 1029923715; and its company type is a joint stock limited company (listed joint venture with investors from Hong Kong Macao and Taiwan and domestic investors).These financial statements were approved by the Board of Directors of the Company for publication on April 1 2026. According to the Articles of Association of the Company these financial statements will be submitted to the general meeting of shareholders for deliberation.II. Basis of Preparation of Financial Statements (I) Basis of Preparation The financial statements of the Company have been prepared on the basis of actual transactions and events in accordance with the Accounting Standards for Business Enterprises issued by the Ministry of Finance and their application guidelines interpretationsand other relevant provisions (hereinafter collectively referred to as the “AccountingStandards for Business Enterprises”) as well as the relevant disclosure provisions of the 23 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)“Compilation Rules for Information Disclosure by Companies Offering Securities to thePublic No. 15-General Provisions on Financial Reports ” (Revised in 2023) issued by the China Securities Regulatory Commission (hereinafter referred to as the CSRC).(II) Assessment of Going Concern The Company has a recent history of profitable operations and has financial resources to support its operations. Therefore it is reasonable to prepare the financial statements on a going concern basis.III. Significant Accounting Policies and Accounting Estimates Specific accounting policies and accounting estimates: Based on its actual production and operating characteristics the Company has formulated specific accounting policies and accounting estimates including provision for bad debts of receivables provision for inventory impairment conditions for capitalization of R&D expenses revenue recognition and measurement etc.(I) Statement of Compliance with Accounting Standards for Business Enterprises The financial statements prepared by the Company comply with the requirements of the Accounting Standards for Business Enterprises and truly accurately and completely reflect the financial position of the Company as at December 31 2025 as well as its operating results and cash flows for 2025 and other relevant information.(II) Accounting Period The accounting period of the Company is from January 1 to December 31 of each calendar year.(III) Operating Cycle The operating cycle of the Company is 12 months and 12 months is adopted as the basis for classifying the liquidity of assets and liabilities. 23 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (IV) Functional Currency The Company adopts Renminbi (RMB) as its functional currency.(V) Determination Method and Selection Basis of Materiality Standards The Company follows the principle of materiality in the preparation and disclosure of its financial statements. The matters involving judgments on materiality standards disclosed in the notes to these financial statements and the determination methods and selection basis of such materiality standards are as follows: Disclosure Items Involving Determination Method and Selection Basis of Judgments on Materiality Standards Materiality Standards The amount of a single recovery or reversal Significant recovery or reversal of accounts for more than 10% of the total amount of provision for bad debts of receivables recovery or reversal of receivables and exceeds RMB 10.00 million The amount of a single write-off accounts for more than 10% of the total amount of bad debt Significant write-off of receivables write-offs of various receivables and exceeds RMB 5.00 million The amount of a single provision accounts for Significant receivables with individually more than 10% of the total provision for bad debts assessed provision for bad debts of various receivables and exceeds RMB 50.00 million A single debt investment accounts for more than Significant debt investments 5% of the total debt investments and exceeds RMB 20.00 million The change in the carrying amount of contract Significant changes in the carrying assets accounts for more than 30% of the opening amount of contract assets balance of contract assets The budget of a single project exceeds RMB 50.00 Significant construction in progress million The budget of a single project exceeds RMB 20.00 Significant capitalized R&D projects million Significant contract liabilities with aging A single contract liability with aging over one year over one year accounts for more than 10% of the total contract 23 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Disclosure Items Involving Determination Method and Selection Basis of Judgments on Materiality Standards Materiality Standards liabilities and exceeds RMB 50.00 million The change in the carrying amount of contract Significant changes in the carrying liabilities accounts for more than 30% of the amount of contract liabilities opening balance of contract liabilities A single account payable with aging over one year Significant accounts payable accounts for more than 5% of the total accounts payable and exceeds RMB 100 million A single other payable with aging over one year Significant other payables accounts for more than 5% of the total other payables and exceeds RMB 50.00 million Significant non-wholly-owned The net assets of a subsidiary account for more subsidiaries than 1% of the net assets of the Company The carrying amount of long-term equity investment in a single investee accounts for more than 1% of the net assets of the Company and Significant joint ventures or associates exceeds RMB 50.00 million or the investment income under the equity method of long-term equity investments accounts for more than 1% of the consolidated net profit of the Company A single investment activity accounts for more than 10% of the total cash inflows or outflows Significant investment activities related to investment activities received or paid and exceeds RMB 100 million Activities that do not involve cash receipts and Significant activities not involving cash payments for the current period but have an receipts and payments for the current impact exceeding 10% of net assets on the current period financial statements (VI) Accounting Treatment for Business Combinations under Common Control and Not under Common Control For business combinations under common control the assets and liabilities obtained by the Company as the combining party are measured at the carrying amounts in the consolidated financial statements of the ultimate controlling party at the combination date.The difference between the carrying amount of the net assets obtained and the carrying 23 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) amount of the consideration paid for the combination is adjusted to capital reserve; if the capital reserve is insufficient to offset retained earnings shall be adjusted.For business combinations not under common control the identifiable assets liabilities and contingent liabilities of the acquiree obtained are measured at fair value at the acquisition date. The combination cost is the sum of the fair value of cash or non-cash assets paid liabilities incurred or assumed equity securities issued by the Company on the acquisition date to obtain control over the acquiree and all directly related costs incurred in the business combination (for business combinations achieved through multiple transactions the combination cost is the sum of the costs of each individual transaction). Where the combination cost exceeds the Company’s share of the fair value of the identifiable net assets of the acquiree obtained in the combination the difference is recognized as goodwill; where the combination cost is less than the Company’s share of the fair value of the identifiable net assets of the acquiree obtained in the combination the fair value of the identifiable assets liabilities and contingent liabilities obtained as well as the fair value of non-cash assets or equity securities issued as consideration shall first be reassessed. If after reassessment the combination cost is still less than the Company’s share of the fair value of the identifiable net assets of the acquiree obtained the difference shall be recognized in non-operating income for the current period of the combination.(VII) Criteria for Determining Control and Preparation of Consolidated Financial Statements Control refers to the Company’s power over the investee exposure or rights to variable returns from its involvement with the investee and the ability to use its power over the investee to affect the amount of those returns.The Company includes all subsidiaries and structured entities under its control in the scope of consolidated financial statements.In preparing the consolidated financial statements where the accounting policies or accounting periods adopted by a subsidiary are inconsistent with those of the Company 23 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) necessary adjustments shall be made to the financial statements of the subsidiary in accordance with the accounting policies or accounting period of the Company.All significant intra-group transactions balances and unrealized profits within the scope of consolidation are eliminated in the preparation of consolidated financial statements. The portion of owners’ equity of subsidiaries not attributable to the parent company as well as the portions of net profit or loss for the current period other comprehensive income and total comprehensive income attributable to minority shareholders are separately presented under “minority interests” “minority interests in profit or loss” “other comprehensive incomeattributable to minority interests” and “total comprehensive income attributable to minorityinterests” in the consolidated financial statements.For subsidiaries obtained through business combinations under common control their operating results and cash flows are included in the consolidated financial statements from the beginning of the period in which the combination occurs. When preparing comparative consolidated financial statements the relevant items in the financial statements of the prior year are adjusted as if the reporting entity formed after the combination had existed since the date when the ultimate controlling party began to exercise control.Where equity interests in an investee under common control are acquired step by step through multiple transactions and ultimately result in a business combination the accounting treatment in the consolidated financial statements shall be additionally disclosed in the reporting period in which control is obtained. For example where equity interests in an investee under common control are acquired step by step through multiple transactions and ultimately result in a business combination in preparing consolidated financial statements adjustments are made as if the combined entity had existed in its current state since the date when the ultimate controlling party began to exercise control. In preparing comparative financial statements the assets and liabilities of the combined party are incorporated into the comparative consolidated financial statements of the Company from a date not earlier than 23 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) when both the Company and the combined party were under the control of the same ultimate controlling party and the net assets increased due to the combination are adjusted to the relevant items under owners’ equity in the comparative financial statements. In order to avoid double counting of the value of the net assets of the combined party for the long-term equity investments held by the Company prior to the combination the relevant profit or loss other comprehensive income and other changes in net assets recognized from the later of the date of obtaining the original equity interests and the date when both the Company and the combined party came under the control of the same ultimate controlling party up to the combination date shall be offset against the opening retained earnings and the profit or loss for the comparative period respectively.For subsidiaries obtained through business combinations not under common control their operating results and cash flows are included in the consolidated financial statements from the date on which the Company obtains control. In preparing consolidated financial statements the financial statements of subsidiaries are adjusted based on the fair value of identifiable assets liabilities and contingent liabilities determined at the acquisition date.Where equity interests in an investee not under common control are acquired step by step through multiple transactions and ultimately result in a business combination the accounting treatment in the consolidated financial statements shall be additionally disclosed in the reporting period in which control is obtained. For example where equity interests in an investee not under common control are acquired step by step through multiple transactions and ultimately result in a business combination in preparing consolidated financial statements the equity interests in the acquiree held prior to the acquisition date shall be remeasured at their fair value on the acquisition date and the difference between the fair value and their carrying amount shall be recognized in investment income for the current period. Other comprehensive income recognized under the equity method in respect of such equity interests held prior to the acquisition date as well as other changes in owners’ equity other than net profit or loss other comprehensive income and profit distribution shall be transferred to 23 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) investment income for the current period to which the acquisition date belongs except for other comprehensive income arising from remeasurement of net liabilities or net assets of defined benefit plans by the investee.Where the Company partially disposes of long-term equity investments in subsidiaries without losing control in the consolidated financial statements the difference between the disposal proceeds and the share of net assets of the subsidiary corresponding to the disposed long-term equity investment which has been continuously calculated from the acquisition date or combination date shall be adjusted to capital premium or share premium; where the capital reserve is insufficient to offset retained earnings shall be adjusted.Where the Company loses control over an investee due to disposal of part of equity investments or other reasons in preparing consolidated financial statements the remaining equity interests shall be remeasured at their fair value on the date when control is lost. The difference between the sum of the consideration received from the disposal of equity interests and the fair value of the remaining equity interests and the share of net assets of the original subsidiary calculated based on the original shareholding ratio from the acquisition date or combination date shall be recognized in investment income for the current period in which control is lost and goodwill shall be written off accordingly. Other comprehensive income and other related items in owners’ equity associated with the original equity investments in the subsidiary shall be transferred to investment income for the current period when control is lost.Where the Company disposes of equity investments in a subsidiary step by step through multiple transactions until control is lost if such transactions constitute a package transaction each transaction shall be accounted for as a single transaction of disposal of the subsidiary and loss of control; however prior to the loss of control the difference between the consideration received from each disposal and the share of net assets of the subsidiary corresponding to the disposed investment shall be recognized as other comprehensive income 23 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) in the consolidated financial statements and shall be transferred to investment income for the current period when control is lost.(VIII) Classification of Joint Arrangements and Accounting Treatment for Joint Operations The Company’s joint arrangements include joint operations and joint ventures. For joint operations as a joint operator the Company recognizes the assets individually held and liabilities individually assumed as well as its share of assets held and liabilities assumed and recognizes the related income and expenses either individually or on a proportionate basis in accordance with relevant agreements. For transactions involving purchase and sale of assets that do not constitute a business with joint operations only the portion of gains or losses attributable to other participants in the joint operation arising from such transactions is recognized.(IX) Cash and Cash Equivalents Cash in the Company’s cash flow statement refers to cash on hand and deposits that are readily available for payment; cash equivalents refer to investments that are held for a short term (generally maturing within three months from the date of acquisition) are highly liquid readily convertible to known amounts of cash and subject to an insignificant risk of changes in value.(X) Foreign Currency Transactions and Translation of Foreign Currency Financial Statements 1. Foreign Currency Transactions Foreign currency transactions of the Company are translated into Renminbi at the spot exchange rates on the transaction dates. At the balance sheet date foreign currency monetary items are translated into Renminbi at the spot exchange rate on the balance sheet date and the resulting exchange differences are recognized in profit or loss for the current period except for exchange differences arising from foreign currency borrowings specifically for the acquisition construction or production of qualifying assets which are treated in accordance with the capitalization principle. Foreign currency non-monetary items measured at fair value 24 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) are translated into Renminbi at the spot exchange rate on the date when the fair value is determined and the resulting exchange differences are recognized directly in profit or loss for the current period as changes in fair value. Foreign currency non-monetary items measured at historical cost are translated at the spot exchange rate on the transaction date and their Renminbi amounts remain unchanged. 2. Translation of Foreign Currency Financial Statements In the foreign currency balance sheet asset and liability items are translated at the spotexchange rate on the balance sheet date; owners’ equity items except for “undistributedprofits” are translated at the spot exchange rates on the transaction dates; income and expense items in the income statement are translated at the average exchange rates for the period (average of the beginning and ending rates). The translation differences arising from the above translation of foreign currency financial statements are presented separately under owners’ equity. Foreign currency cash flows are translated at the average exchange rates for the period (average of the beginning and ending rates). The effect of exchange rate changes on cash is presented separately in the cash flow statement.(XI) Financial Assets and Financial Liabilities A financial asset or financial liability is recognized when the Company becomes a party to a financial instrument contract. Financial assets and financial liabilities are initially measured at fair value. For financial assets and financial liabilities measured at fair value with changes recognized in current profit or loss related transaction costs are recognized directly in profit or loss; for other categories of financial assets and financial liabilities related transaction costs are included in the initial measurement amount. 1. Determination of Fair Value of Financial Assets and Financial Liabilities Fair value refers to the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where there is an active market for a financial instrument the Company determines its fair value 24 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) based on quoted prices in the active market. Quoted prices in an active market refer to prices that are readily and regularly available from exchanges brokers industry associations pricing service agencies etc. and represent actual market transaction prices in orderly transactions.Where there is no active market for a financial instrument the Company determines its fair value using valuation techniques. Valuation techniques include reference to prices used in recent market transactions between knowledgeable and willing parties reference to the current fair value of other financial instruments that are substantially the same discounted cash flow methods option pricing models etc. 2. Classification and Measurement of Financial Assets Upon initial recognition the Company classifies financial assets into the following categories: financial assets measured at amortized cost; financial assets measured at fair value with changes recognized in other comprehensive income; and financial assets measured at fair value with changes recognized in profit or loss for the current period. The classification of financial assets depends on the Company’s business model for managing the financial assets and the contractual cash flow characteristics of the financial assets. (1) Financial Assets Measured at Amortized Cost Financial assets shall be classified as financial assets measured at amortized cost when both of the following conditions are met: the Company’s business model for managing such financial assets is to collect contractual cash flows; and the contractual terms of such financial assets give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. For such financial assets the effective interest method is adopted for subsequent measurement at amortized cost and gains or losses arising from amortization or impairment are recognized in profit or loss for the current period. Such financial assets mainly include monetary funds notes receivable accounts receivable other receivables debt investments and long-term receivables etc. Debt investments and long-term receivables that will mature within one year (inclusive) from the balance sheet date are 24 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) presented as non-current assets due within one year; debt investments with a maturity of within one year (inclusive) at the time of acquisition are presented as other current assets. (2) Financial Assets Measured at Fair Value with Changes Recognized in Other Comprehensive Income Financial assets shall be classified as financial assets measured at fair value with changes recognized in other comprehensive income when both of the following conditions are met: the Company’s business model for managing such financial assets is achieved by both collecting contractual cash flows and selling financial assets; and the contractual terms of such financial assets give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. For such financial assets subsequent measurement is carried out at fair value. Premiums or discounts are amortized using the effective interest method and recognized as interest income or expenses. Except for impairment losses and exchange differences of foreign currency monetary financial assets which are recognized in profit or loss for the current period changes in fair value of such financial assets are recognized in other comprehensive income until the financial assets are derecognized at which time the cumulative gains or losses are transferred to profit or loss for the current period. Interest income related to such financial assets is recognized in profit or loss for the current period. Such financial assets are presented as other debt investments; other debt investments that will mature within one year (inclusive) from the balance sheet date are presented as non-current assets due within one year; other debt investments with a maturity of within one year (inclusive) at the time of acquisition are presented as other current assets. (3) Financial Assets Measured at Fair Value with Changes Recognized in Profit or Loss for the Current Period Financial assets other than those classified as financial assets measured at amortized cost and financial assets measured at fair value with changes recognized in other comprehensive income are classified as financial assets measured at fair value with changes recognized in 24 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) profit or loss for the current period. Subsequent measurement is carried out at fair value and all changes in fair value are recognized in profit or loss for the current period. The Company classifies non-trading equity instruments as financial assets measured at fair value with changes recognized in profit or loss for the current period. Such financial assets are presented as trading financial assets and those with maturity over one year from the balance sheet date and expected to be held for more than one year are presented as other non-current financial assets. 3. Impairment of Financial Instruments The Company recognizes impairment losses and loss allowances for financial assets measured at amortized cost and investments in financial assets measured at fair value with changes recognized in other comprehensive income based on expected credit losses.Credit losses refer to the difference between all contractual cash flows that are due to the Company in accordance with the contract and all cash flows that the Company expects to receive discounted at the original effective interest rate i.e. the present value of all cash shortfalls. For financial assets purchased or originated that are credit-impaired the Company discounts the expected cash flows using the credit-adjusted effective interest rate of such financial assets.The Company based on credit risk characteristics considers all reasonable and supportable information including forward-looking information. In assessing expected credit losses of receivables they are classified based on specific credit risk characteristics as follows: (1) For receivables contract assets and lease receivables (including those with and without significant financing components) the Company measures the loss allowance at an amount equal to lifetime expected credit losses. For other receivables the Company determines whether the credit risk has increased significantly since initial recognition. If not impairment losses are measured at an amount equal to expected credit losses within the next 12 months; if significantly increased impairment losses are measured at an amount equal to 24 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) lifetime expected credit losses. 1) Assessment of expected credit losses on an individual basis: Financial institution credit receivables within notes receivable and accounts receivable (including accepted letters of credit) amounts due from related parties (related parties under common control and related parties with significant influence); dividends receivable interest receivable advances investment loans deposits government grants receivable (including demolition subsidies) under other receivables; contract assets; receivables with significant financing components (i.e. long-term receivables). 2) Assessment of expected credit losses based on customer credit characteristics and aging portfolios: Except for those assessed on an individual basis the Company assesses expected credit losses of financial instruments including notes receivable accounts receivable and other receivables based on customer credit characteristics and aging portfolios.In assessing expected credit losses the Company considers all reasonable and supportable information including forward-looking information. Where there is objective evidence indicating that customer credit characteristics and aging portfolios can no longer reasonably reflect expected credit losses the Company estimates the present value of expected future cash flows on an individual basis and the resulting cash shortfall is directly written down against the carrying amount of the financial asset. (2) For other assets subject to impairment of financial instruments expected credit losses are assessed on an individual basis. Such assets include loan commitments and financial guarantee contracts not measured at fair value with changes recognized in profit or loss financial assets measured at fair value with changes recognized in other comprehensive income and other financial assets measured at amortized cost (such as other current assets and other non-current financial assets etc.). 4. Recognition Criteria and Measurement Methods for Transfers of Financial Assets 24 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) A financial asset shall be derecognized when one of the following conditions is met: (1) The contractual rights to receive the cash flows from the financial asset have expired; (2) the financial asset has been transferred and substantially all the risks and rewards of ownership of the financial asset have been transferred to the transferee; or (3) the financial asset has been transferred and although the Company has neither transferred nor retained substantially all the risks and rewards of ownership of the financial asset it has relinquished control over the financial asset.Where the transfer of a financial asset in its entirety meets the conditions for derecognition the difference between the carrying amount of the transferred financial asset and the sum of the consideration received from the transfer and the cumulative changes in fair value previously recognized in other comprehensive income shall be recognized in profit or loss for the current period.Where the transfer of a financial asset in part meets the conditions for derecognition the carrying amount of the transferred financial asset shall be allocated between the part derecognized and the part not derecognized based on their respective relative fair values and the difference between the consideration received from the transfer plus the cumulative changes in fair value previously recognized in other comprehensive income allocated to the part derecognized and the allocated carrying amount shall be recognized in profit or loss for the current period.Where the Company has neither transferred nor retained substantially all the risks and rewards of ownership of the financial asset and has not relinquished control over the financial asset it shall recognize the financial asset to the extent of its continuing involvement in the transferred financial asset and recognize a corresponding liability. The extent of continuing involvement in the transferred financial asset refers to the extent to which the Company is exposed to the risk of changes in the value of the financial asset.For financial assets sold with recourse or endorsed and transferred by the Company it is 24 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) necessary to determine whether substantially all the risks and rewards of ownership of the financial assets have been transferred. If substantially all the risks and rewards of ownership of the financial asset have been transferred to the transferee the financial asset shall be derecognized; if substantially all the risks and rewards of ownership of the financial asset are retained the financial asset shall not be derecognized; if neither substantially all the risks and rewards of ownership have been transferred nor retained it shall further determine whether control over the asset has been retained and account for it in accordance with the principles described in the preceding paragraphs. 5. Classification and Measurement of Financial Liabilities Financial liabilities are classified upon initial recognition into financial liabilities measured at fair value with changes recognized in profit or loss for the current period and other financial liabilities. (1) Financial Liabilities Measured at Fair Value with Changes Recognized in Profit or Loss for the Current Period The conditions for classifying financial liabilities as trading financial liabilities or as financial liabilities designated at initial recognition as measured at fair value with changes recognized in profit or loss are consistent with those for classifying financial assets as trading financial assets or as financial assets designated at initial recognition as measured at fair value with changes recognized in profit or loss for the current period. Financial liabilities measured at fair value with changes recognized in profit or loss are subsequently measured at fair value and gains or losses arising from changes in fair value as well as dividends and interest expenses related to such financial liabilities are recognized in profit or loss for the current period. (2) Other Financial Liabilities Derivative financial liabilities that are linked to equity instruments for which there is no 24 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) quoted price in an active market and whose fair value cannot be reliably measured and which must be settled by delivery of such equity instruments are subsequently measured at cost.Other financial liabilities are subsequently measured at amortized cost using the effective interest method and gains or losses arising from derecognition or amortization are recognized in profit or loss for the current period. (3) Financial Guarantee Contracts Financial guarantee contracts that are not designated as financial liabilities measured at fair value with changes recognized in current profit or loss are initially recognized at fair value and are subsequently measured at the higher of the amount determined in accordance with the Accounting Standards for Business Enterprises No. 13 - Contingencies and the balance of the initial recognition amount after deducting the cumulative amortization determined in accordance with the principles of the Accounting Standards for Business Enterprises No. 14 - Revenue. 6. Derecognition of Financial Liabilities A financial liability is derecognized when the present obligation is discharged in whole or in part. Where the Company (as debtor) enters into an agreement with a creditor to replace an existing financial liability with a new financial liability and the contractual terms of the new financial liability are substantially different from those of the existing financial liability the existing financial liability shall be derecognized and a new financial liability shall be recognized at the same time. Where a financial liability is derecognized in whole or in part the difference between the carrying amount of the derecognized portion and the consideration paid (including non-cash assets transferred or new financial liabilities assumed) shall be recognized in profit or loss for the current period. 7. Offsetting of Financial Assets and Financial Liabilities Financial assets and financial liabilities shall be presented in the balance sheet at the net 24 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) amount after offsetting when the Company has a legally enforceable right to offset the recognized financial assets and financial liabilities and such right is currently enforceable and the Company intends either to settle on a net basis or to realize the financial asset and settle the financial liability simultaneously. Otherwise financial assets and financial liabilities are presented separately in the balance sheet and shall not be offset. 8. Derivative Instruments and Embedded Derivatives Derivative instruments are initially measured at fair value on the date the relevant contracts are entered into and are subsequently measured at fair value. Except for derivatives designated as hedging instruments and for which the hedging relationship is highly effective whose gains or losses arising from changes in fair value are recognized in profit or loss in accordance with hedge accounting requirements depending on the nature of the hedging relationship changes in fair value of other derivatives are recognized in profit or loss for the current period. For hybrid instruments containing embedded derivatives if they are not designated as financial assets or financial liabilities measured at fair value with changes recognized in profit or loss for the current period and the embedded derivatives are not closely related to the host contracts in terms of economic characteristics and risks and the embedded derivatives if separated meet the definition of derivatives the embedded derivatives shall be separated from the hybrid instruments and accounted for as separate derivative financial instruments. If the embedded derivatives cannot be separately measured at acquisition or at subsequent balance sheet dates the entire hybrid instrument shall be designated as a financial asset or financial liability measured at fair value with changes recognized in profit or loss for the current period. 9. Equity Instruments Equity instruments refer to contracts that evidence a residual interest in the assets of the Company after deducting all its liabilities. The issuance (including refinancing) repurchase sale or cancellation of equity instruments by the Company is accounted for as changes in 24 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) equity. The Company does not recognize changes in the fair value of equity instruments.Transaction costs related to equity transactions are deducted from equity. Distributions made by the Company to holders of equity instruments (excluding stock dividends) reduce shareholders’ equity.(XII) Inventories The Company’s inventories mainly include raw materials finished goods low-value consumables goods issued work in progress molds and contract performance costs.The perpetual inventory system is adopted; raw materials finished goods and low-value consumables are accounted for at standard cost in daily accounting and price variances are allocated at the end of each month to adjust the cost of goods issued for the current period; for goods issued cost variances of finished goods are allocated when operating revenue is recognized; low-value consumables are expensed in full upon requisition; molds are amortized within one year after requisition.At the end of the period inventories are measured at the lower of cost and net realizable value. Provision for inventory impairment is made for the excess of the carrying amount of individual inventory items over their net realizable value and such provision is recognized in profit or loss for the current period.(XIII) Contract Assets 1. Recognition Methods and Criteria for Contract Assets Contract assets refer to the Company’s right to consideration in exchange for goods transferred to customers where such right is conditional on factors other than the passage of time. For example where the Company sells two distinct goods to a customer and has delivered one of them and is entitled to payment but the receipt of such payment is conditional upon the delivery of the other good the Company recognizes such right to receive consideration as a contract asset. 25 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) 2. Determination Method and Accounting Treatment of Expected Credit Losses of Contract Assets The determination method of expected credit losses for contract assets shall be made with reference to the accounting policies for impairment of financial instruments as described in (XI) 3 above. The Company calculates expected credit losses of contract assets at the balance sheet date. Where the expected credit losses exceed the carrying amount of the existing allowance for impairment of contract assets the difference is recognized as impairment loss with a debit to “asset impairment loss” and a credit to “allowance forimpairment of contract assets”. Conversely the difference is recognized as impairment gain with reverse accounting entries.Where actual credit losses occur and the related contract assets are deemed irrecoverable and approved for write-off the Company debits “allowance for impairment of contract assets” and credits “contract assets” based on the approved write-off amount. Where the write-off amount exceeds the allowance provided the difference is debited to “asset impairment loss”.(XIV) Contract Costs 1. Determination of the Amount of Assets Related to Contract Costs Assets related to contract costs of the Company include costs to fulfill a contract and costs to obtain a contract.Costs to fulfill a contract refer to costs incurred by the Company to fulfill a contract that are not within the scope of other Accounting Standards for Business Enterprises and meet all of the following conditions which shall be recognized as an asset: such costs are directly related to an existing contract or a contract expected to be obtained including direct labor direct materials manufacturing overhead (or similar costs) costs explicitly chargeable to customers and other costs incurred solely as a result of the contract; such costs generate or enhance resources of the Company that will be used in satisfying performance obligations in the future; and such costs are expected to be recovered. 25 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Costs to obtain a contract refer to the incremental costs incurred by the Company to obtain a contract that are expected to be recovered which shall be recognized as an asset as contract acquisition costs; where the amortization period of such asset does not exceed one year it is recognized in profit or loss for the current period when incurred. Incremental costs refer to costs that would not have been incurred by the Company if the contract had not been obtained (such as sales commissions). Other expenditures incurred by the Company to obtain a contract other than incremental costs expected to be recovered (such as travel expenses that would be incurred regardless of whether the contract is obtained) are recognized in profit or loss for the current period when incurred unless they are explicitly borne by the customer. 2. Amortization of Assets Related to Contract Costs Assets related to contract costs of the Company are amortized on a basis consistent with the recognition of revenue from the goods to which such assets relate and are recognized in profit or loss for the current period. 3. Impairment of Assets Related to Contract Costs In determining impairment losses for assets related to contract costs the Company first determines impairment losses for other assets related to the contract that are recognized in accordance with other relevant Accounting Standards for Business Enterprises; then where the carrying amount of such assets exceeds the difference between the remaining consideration that the Company expects to receive for transferring the goods related to such assets and the estimated costs to be incurred for transferring those goods the excess shall be provided for as an impairment allowance and recognized as asset impairment loss.Where factors that led to impairment in prior periods subsequently change such that the aforesaid difference exceeds the carrying amount of the asset the previously recognized impairment allowance shall be reversed and recognized in profit or loss for the current period provided that the carrying amount of the asset after reversal shall not exceed the carrying amount that would have been determined had no impairment allowance been recognized at 25 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) the date of reversal.(XV) Long-term Equity Investments The Company’s long-term equity investments mainly consist of investments in subsidiaries investments in associates and investments in joint ventures.For long-term equity investments obtained through business combinations under common control the initial investment cost is measured at the share of the carrying amount of the acquiree’s net assets in the consolidated financial statements of the ultimate controlling party at the combination date. Where the carrying amount of the acquiree’s net assets at the combination date is negative the cost of the long-term equity investment is determined to be zero. For long-term equity investments obtained through business combinations not under common control the initial investment cost is measured at the combination cost.In addition to the above long-term equity investments obtained through business combinations long-term equity investments acquired by cash payment are measured at the actual purchase consideration paid; those acquired by issuance of equity securities are measured at the fair value of the equity securities issued; those contributed by investors are measured at the value agreed in the investment contract or agreement; and those acquired through debt restructuring non-monetary asset exchange and other means are determined in accordance with the relevant accounting standards.The Company adopts the cost method for investments in subsidiaries and the equity method for investments in joint ventures and associates.Under the cost method long-term equity investments are measured at investment cost and the cost of long-term equity investments is adjusted upon additional investment or recovery of investment. Under the equity method investment income or loss for the current period represents the share of the net profit or loss realized by the investee for the current year that should be attributable to or borne by the Company. When recognizing the share of the investee’s net profit or loss adjustments are made based on the fair value of the investee’s 25 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) identifiable assets at the acquisition date in accordance with the Company’s accounting policies and accounting periods and after eliminating unrealized profits and losses from internal transactions with associates and joint ventures attributable to the Company based on its shareholding proportion before recognizing the adjusted net profit of the investee. For long-term equity investments in associates and joint ventures that were already held prior to the first-time adoption date if there exists any debit difference related to equity investment the investment income or loss shall be recognized after deducting the equity investment debit difference amortized on a straight-line basis over the remaining original term.Where the investor loses joint control or significant influence over the investee due to disposal of part of the equity investment or other reasons the remaining equity interest after disposal shall be accounted for in accordance with the Accounting Standards for Business Enterprises No. 22 – Recognition and Measurement of Financial Instruments and the difference between its fair value and carrying amount at the date of losing joint control or significant influence shall be recognized in profit or loss for the current period. Other comprehensive income previously recognized from the original equity investment accounted for using the equity method shall upon cessation of the equity method be accounted for on the same basis as would be applied to the direct disposal of the related assets or liabilities by the investee; for long-term equity investments where control over the investee can be obtained due to additional investment or other reasons the cost method shall be adopted; for long-term equity investments where joint control or significant influence over the investee can be exercised due to additional investment or other reasons but which do not constitute control or where control over the investee is lost due to disposal of investment or other reasons but joint control or significant influence can still be exercised the equity method shall be adopted.Upon disposal of a long-term equity investment the difference between its carrying amount and the actual consideration received shall be recognized in investment income for the current period. For long-term equity investments accounted for using the equity method where changes in owners’ equity of the investee other than net profit or loss are recognized in 25 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) owners’ equity upon disposal of such investment the portion previously recognized in owners’ equity shall be transferred in proportion to investment income for the current period.(XVI) Investment Properties The Company’s investment properties mainly consist of buildings held for leasing.Investment properties are initially measured at cost. For externally acquired investment properties cost includes purchase consideration relevant taxes and fees and other expenditures directly attributable to the asset; for self-constructed investment properties cost comprises necessary expenditures incurred before the asset reaches its intended usable condition.The Company adopts the cost model for subsequent measurement of investment properties and depreciation is provided using the straight-line method over the estimated useful lives taking into account the estimated residual value rates. The estimated useful lives estimated residual value rates and annual depreciation rates are as follows: Annual Depreciation period Estimated residual Category depreciation rate (years) value rate (%) (%) Buildings 30-40 4.00-5.00 2.375-3.20 Where the use of an investment property is changed to owner-occupied use it shall be reclassified as fixed assets or intangible assets from the date of change. Where an owner- occupied property is changed to be held for earning rentals or for capital appreciation it shall be reclassified from fixed assets or intangible assets to investment properties from the date of change. Upon conversion the carrying amount prior to conversion shall be taken as the carrying amount after conversion.An investment property shall be derecognized upon disposal or when it is permanently withdrawn from use and no future economic benefits are expected from its disposal. The net amount of proceeds from disposal of an investment property after deducting its carrying amount and related taxes and fees shall be recognized in profit or loss for the current period. 25 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (XVII) Fixed Assets The Company’s fixed assets refer to tangible assets that simultaneously meet the following criteria: held for the production of goods rendering of services leasing or administrative purposes with a useful life exceeding one year and a unit value exceeding RMB 2000.00.Fixed assets are initially measured at cost at the time of acquisition among which: The cost of externally purchased fixed assets includes the purchase price import duties and other related taxes and fees as well as other expenditures directly attributable to bringing the asset to its intended usable condition; the cost of self-constructed fixed assets comprises necessary expenditures incurred before the asset reaches its intended usable condition; fixed assets contributed by investors are measured at the value agreed in the investment contract or agreement except where such agreed value is not fair in which case the fair value shall be used; fixed assets acquired under finance leases are measured at the lower of the fair value of the leased asset and the present value of the minimum lease payments at the lease commencement date.Subsequent expenditures related to fixed assets including repair expenses and renovation and upgrading expenditures shall be capitalized into the cost of fixed assets if they meet the recognition criteria for fixed assets and the carrying amount of the replaced part shall be derecognized; otherwise such expenditures shall be recognized in profit or loss for the current period when incurred. A fixed asset shall be derecognized upon disposal or when no future economic benefits are expected to be generated from its use or disposal. The net amount of proceeds from disposal of fixed assets after deducting their carrying amounts and related taxes and fees shall be recognized in profit or loss for the current period.Except for fixed assets that have been fully depreciated but are still in use the Company provides depreciation for all fixed assets. Depreciation is calculated using the straight-line method and is recognized in the relevant costs or expenses according to the use of the assets. 25 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) The categories depreciation periods estimated residual value rates and annual depreciation rates of fixed assets are as follows: Estimated residual Annual depreciation Category Depreciation period value rate rate Buildings and 30-40 years 4%-5% 2.375%-3.20% structures Machinery and 10-14 years 4%-5% 6.786%-9.60% equipment Transportation 5-12 years 4%-5% 7.92%-19.20% equipment Other equipment 8-12 years 4%-5% 7.92%-12.00% At the end of each year the Company reviews the estimated useful lives estimated residual values and depreciation methods of fixed assets. Any changes are accounted for as changes in accounting estimates.(XVIII) Construction in Progress Construction in progress is transferred to fixed assets at an estimated value based on project budget cost or actual construction expenditure when the assets reach their intended usable condition and depreciation is provided from the month following such transfer. After completion settlement procedures are finalized any differences in the original carrying amount of fixed assets shall be adjusted.(XIX) Borrowing Costs Borrowing costs directly attributable to the acquisition construction or production of qualifying assets including fixed assets investment properties and inventories that require more than one year to reach their intended usable or saleable condition shall be capitalized when expenditures for the assets have been incurred borrowing costs have been incurred and the acquisition construction or production activities necessary to prepare the assets for their intended use or sale have commenced; capitalization shall cease when the qualifying assets reach their intended usable or saleable condition and subsequent borrowing costs shall be 25 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) recognized in current profit or loss. If the acquisition construction or production of qualifying assets is abnormally interrupted and such interruption lasts for more than three consecutive months capitalization of borrowing costs shall be suspended until the acquisition construction or production activities resume.The actual interest expenses incurred on specific borrowings in the current period net of interest income earned on unused borrowed funds deposited in banks or investment income from temporary investments shall be capitalized; for general borrowings the capitalization amount shall be determined by applying the capitalization rate of general borrowings to the weighted average of accumulated asset expenditures exceeding the portion financed by specific borrowings. The capitalization rate shall be determined based on the weighted average interest rate of general borrowings.(XX) Right-of-use Assets When the Company as a lessee becomes a party to a lease contract where it has the right to obtain substantially all of the economic benefits from the use of an identified asset during the period of use and has the right to direct the use of the identified asset during such period it shall recognize a right-of-use asset at the sum of the present value of lease liabilities lease payments made in advance and initial direct costs and recognize depreciation and interest expenses respectively.When the Company as a lessee becomes a party to a lease contract for short-term leases with a lease term of no more than one year and without a purchase option and leases with a value of less than RMB 40000 (excluding subleases or assets expected to be subleased) the Company elects to apply the simplified approach and recognize lease payments on a straight- line basis over the lease term in the relevant asset costs or current profit or loss.(XXI) Intangible Assets 1. Measurement Useful Life and Impairment Test The Company’s intangible assets include land use rights trademark rights patented 25 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) technologies and non-patented technologies which are measured at actual cost upon acquisition. For purchased intangible assets actual cost includes the purchase consideration paid and other related expenditures; intangible assets contributed by investors are measured at the value agreed in the investment contract or agreement except where such agreed value is not fair in which case the fair value shall be used.The Company assesses and determines the useful life of intangible assets upon acquisition. Intangible assets with determinable useful lives such as land use rights are amortized using the straight-line method over their useful lives from the date they are available for use until they are no longer recognized as intangible assets. Other intangible assets are amortized over the useful lives stipulated in contracts or laws. Intangible assets with indefinite useful lives shall not be amortized. Intangible assets developed internally are generally amortized on a straight-line basis over the expected period of benefit from the project results which is typically 3-5 years.At the end of each year the Company reviews the useful lives and amortization methods of intangible assets with finite useful lives. If the estimated useful life or amortization method of intangible assets differs from previous estimates the amortization period and method shall be changed accordingly. For intangible assets with indefinite useful lives the Company reviews their useful lives. If there is evidence indicating that their useful lives are finite the useful lives shall be estimated and such assets shall be accounted for as intangible assets with finite useful lives. Any changes identified upon review shall be accounted for as changes in accounting estimates. 2. Scope of R&D Expenditures and Related Accounting Treatment The Company’s R&D expenditures refer to expenditures directly related to the Company’s R&D activities including employee compensation of R&D personnel direct input costs depreciation expenses and other expenses.The Company classifies R&D expenditures into research phase expenditures and 25 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) development phase expenditures based on their nature and the degree of uncertainty as to whether the R&D activities will ultimately result in the formation of intangible assets.Expenditures incurred during the research phase shall be recognized in profit or loss for the current period as incurred; expenditures incurred during the development phase shall be recognized as intangible assets only when all of the following conditions are satisfied: (1) the technical feasibility of completing the intangible asset so that it will be available for use or sale; (2) the intention to complete the intangible asset and to use or sell it; (3) the existence of a market for the products produced using the intangible asset or for the intangible asset itself; (4) the availability of adequate technical financial and other resources to complete the development of the intangible asset and the ability to use or sell the intangible asset; and (5) the expenditures attributable to the development phase of the intangible asset can be reliably measured.Development phase expenditures that do not meet the above conditions shall be recognized in profit or loss for the current period as incurred. Development expenditures previously recognized in profit or loss shall not be recognized as assets in subsequent periods.Capitalized development phase expenditures are presented as development expenditures in the balance sheet and are reclassified as intangible assets from the date when the project reaches its intended usable condition.(XXII) Impairment of Long-term Assets At each balance sheet date the Company conducts an assessment of items such as fixed assets construction in progress and intangible assets with finite useful lives. Where any of the following indications exists it indicates that the asset may be impaired and the Company will perform an impairment test. For intangible assets with indefinite useful lives impairment tests are conducted at the end of each year regardless of whether there is any indication of impairment. Where it is difficult to estimate the recoverable amount of an individual asset the test shall be performed based on the asset group or group of asset groups to which the asset belongs. 26 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Indications of impairment include: 1. A significant decline in the market price of an asset during the current period the extent of which is significantly greater than that expected from the passage of time or normal use; 2. Significant adverse changes in the economic technological or legal environment in which the enterprise operates or in the market in which the asset is located during the current period or in the near future; 3. An increase in market interest rates or other market rates of return on investments during the current period thereby affecting the discount rate used in calculating the present value of the asset’s expected future cash flows and resulting in a significant decrease in the recoverable amount of the asset; 4. Evidence indicating that the asset is obsolete or physically damaged; 5. The asset has been or will be idle discontinued or planned to be disposed of in advance; 6. Evidence from internal reporting indicating that the economic performance of the asset is or will be worse than expected such as where the net cash flows generated by the asset or the operating profit (or loss) realized is significantly lower (or higher) than expected; 7. Other indications that the asset may be impaired. After the impairment test if the carrying amount of the asset exceeds its recoverable amount the excess shall be recognized as an impairment loss. Once recognized impairment losses of the above assets shall not be reversed in subsequent accounting periods. The recoverable amount of an asset is the higher of its fair value less costs of disposal and the present value of its expected future cash flows. 26 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (XXIII) Contract Liabilities Contract liabilities represent the Company’s obligation to transfer goods to customers for which consideration has been received or is receivable from customers. Where the customer has paid the contract consideration or the Company has obtained an unconditional right to receive the contract consideration before transferring goods to the customer a contract liability shall be recognized at the earlier of the time when the customer actually makes the payment and the time when the payment becomes due based on the amount received or receivable.(XXIV) Goodwill Goodwill represents the excess of the cost of equity investment or the cost of a business combination not under common control over the Company’s share of the fair value of the identifiable net assets of the investee or acquiree at the acquisition date or purchase date.Goodwill related to subsidiaries is presented separately in the consolidated financial statements while goodwill related to associates and joint ventures is included in the carrying amount of long-term equity investments.(XXV) Long-term Deferred Expenses Long-term deferred expenses refer to expenditures that have been incurred by the Company but shall be borne by the current and subsequent periods with an amortization period of more than one year (excluding one year). Such expenses are amortized on a straight- line basis over the benefit period. If a long-term deferred expense item no longer provides benefits to subsequent accounting periods the unamortized balance of such item shall be fully recognized in current profit or loss.(XXVI) Employee Compensation Employee compensation refers to all forms of remuneration or compensation given by the Company in exchange for services rendered by employees or for the termination of employment relationships including short-term compensation post-employment benefits 26 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) termination benefits and other long-term employee benefits.Short-term compensation mainly includes: Employee wages bonuses allowances and subsidies employee welfare expenses social insurance premiums such as medical insurance work-related injury insurance and maternity insurance housing provident fund trade union funds and employee education funds short-term paid absences short-term profit-sharing plans non-monetary benefits and other short-term compensation. During the accounting period in which employees render services short-term compensation actually incurred shall be recognized as a liability and charged to current profit or loss or the cost of relevant assets based on the beneficiaries.Post-employment benefits mainly include basic pension insurance premiums unemployment insurance premiums and benefits for internally retired employees. Post- employment benefit plans refer to agreements entered into between the enterprise and employees regarding post-employment benefits or rules and policies formulated by the enterprise to provide such benefits. Among them defined contribution plans refer to post- employment benefit plans under which the enterprise pays fixed contributions into a separate fund and has no further payment obligations; defined benefit plans refer to post-employment benefit plans other than defined contribution plans.The Company’s policies on early internal retirement and early retirement are compensation provided to encourage employees to voluntarily accept redundancy. Upon voluntary application by employees and approval by the Company both parties enter into compensation agreements. The compensation amount is calculated based on the compensation standards approved by the employees’ representative assembly and is recognized as termination benefits and charged to current profit or loss. As the Company has committed to adjusting the benefits of internally retired employees in line with increases in the minimum subsistence allowance no discounting factor is considered in the measurement of termination benefits. 26 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (XXVII) Lease Liabilities When the Company as a lessee becomes a party to a lease contract where it has the right to obtain substantially all of the economic benefits from the use of an identified asset during the period of use and has the right to direct the use of the identified asset during such period it shall recognize lease liabilities at the present value of lease payments that are unpaid after deducting lease incentives (except for short-term leases and leases of low-value assets to which the simplified approach is applied).(XXVIII) Estimated Liabilities When obligations related to contingencies such as external guarantees discounting of commercial acceptance bills pending litigations or arbitrations product quality warranties etc. simultaneously meet the following conditions the Company shall recognize them as liabilities: The obligation is a present obligation of the Company; it is probable that an outflow of economic benefits will result from the performance of the obligation; and the amount of the obligation can be reliably measured.(XXIX) Special Reserves Safety production expenses accrued in accordance with relevant regulations are included in the cost of related products or current profit or loss and simultaneously recognized in special reserves. Upon utilization they are accounted for separately depending on whether fixed assets are formed: For expenditures of an expense nature the special reserves shall be directly offset; where fixed assets are formed the expenditures incurred shall be accumulated and recognized as fixed assets when they reach their intended usable condition while an equivalent amount of special reserves shall be offset and an equivalent amount of accumulated depreciation shall be recognized.(XXX) Revenue The Company’s operating revenue mainly includes revenue from the sale of goods revenue from rendering of services and revenue from transferring the right to use assets. 26 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) The Company recognizes revenue when it has fulfilled its performance obligations under a contract that is when the customer obtains control of the relevant goods or services.Where a contract contains two or more performance obligations at the contract inception the Company allocates the transaction price to each performance obligation based on the relative proportion of the stand-alone selling prices of the goods or services promised under each performance obligation and recognizes revenue based on the transaction price allocated to each performance obligation.The transaction price is the amount of consideration that the Company expects to be entitled to in exchange for transferring goods or services to a customer excluding amounts collected on behalf of third parties. The transaction price recognized by the Company shall not exceed the amount for which it is highly probable that a significant reversal of cumulative revenue recognized will not occur when the related uncertainty is resolved. Amounts expected to be refunded to customers shall be recognized as liabilities and shall not be included in the transaction price. Where a contract contains a significant financing component the Company determines the transaction price based on the amount payable assuming that the customer pays in cash at the time when it obtains control of the goods or services. The difference between such transaction price and the contract consideration shall be amortized over the contract period using the effective interest method. At the contract inception if the Company expects that the interval between the time when the customer obtains control of the goods or services and the time when the customer pays the consideration does not exceed one year the significant financing component in the contract is not considered.The Company satisfies a performance obligation over time if one of the following conditions is met; otherwise it satisfies the performance obligation at a point in time: 1. The customer simultaneously receives and consumes the economic benefits provided by the Company’s performance as the Company performs. 2. The customer is able to control the goods under construction in the course of the 26 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Company’s performance. 3. The goods produced in the course of the Company’s performance have no alternative use to the Company and the Company has an enforceable right to payment for performance completed to date throughout the contract period.For performance obligations satisfied over time the Company recognizes revenue over time based on the progress toward completion of the performance obligation which is determined using the output method. Where the progress toward completion cannot be reasonably measured but the costs incurred are expected to be recoverable revenue is recognized to the extent of the costs incurred until the progress toward completion can be reasonably measured.For performance obligations satisfied at a point in time the Company recognizes revenue at the point in time when the customer obtains control of the relevant goods or services. In determining whether the customer has obtained control of the goods or services the Company considers the following indicators: 1. The Company has a present right to payment for the goods or services. 2. The Company has transferred legal title of the goods to the customer. 3. The Company has transferred physical possession of the goods to the customer. 4. The Company has transferred the significant risks and rewards of ownership of the goods to the customer. 5. The customer has accepted the goods or services. The Company presents the right to consideration in exchange for goods or services that it has transferred to customers as contract assets and impairment is provided for contract assets based on expected credit losses. The Company presents unconditional rights to consideration from customers as receivables. The Company presents obligations to transfer goods or 26 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) services to customers for which consideration has been received or is receivable from customers as contract liabilities.Specific methods of revenue recognition: 1. Revenue from sale of goods For sales of goods between the Company and customers revenue is generally recognized at the point in time when control of the goods is transferred based on a comprehensive assessment of factors such as the Company’s present right to payment the transfer of significant risks and rewards of ownership the transfer of legal title the transfer of physical possession and customer acceptance. For goods picked up by customers revenue is recognized at the time of collection and acceptance; for goods delivered through logistics revenue is recognized upon delivery to and acceptance by the customer; for sales with consignment characteristics revenue is recognized when the customer provides the settlement list in accordance with the contract; for sales through online channels revenue is recognized when the goods are dispatched and delivered to the customer at which point the significant risks and rewards of ownership are deemed to have been transferred; for export sales revenue is recognized upon delivery of goods to the port or location designated by the customer or to the carrier designated by the customer in accordance with the contract and after completion of customs declaration. 2. Revenue from rendering of services For warranty services revenue is recognized based on services provided under the contract and upon receipt of payment or obtaining customer-signed confirmation documents (including the amount) unless otherwise specified not as a condition for revenue recognition; for technology development services revenue is recognized based on services provided under the contract and confirmed by both parties’ business confirmation documents; for other engineering services revenue is recognized in stages according to the progress of performance which is determined using the output method. 26 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (XXXI) Government Grants The Company’s government grants mainly include project grants fiscal interest subsidies and employment stabilization subsidies. Among them government grants related to assets refer to government grants obtained by the Company for the acquisition construction or other formation of long-term assets; government grants related to income refer to government grants other than those related to assets. Where the government documents do not explicitly specify the grant object the Company makes judgments based on the above classification principles; where it is difficult to distinguish the grants are classified as government grants related to income as a whole.Government grants in the form of monetary assets are measured at the amount actually received. For grants allocated based on fixed quotas or where there is conclusive evidence at the year-end that the Company meets the relevant conditions stipulated in fiscal support policies and is expected to receive such funds they are measured at the amount receivable; government grants in the form of non-monetary assets are measured at fair value and where fair value cannot be reliably obtained they are measured at a nominal amount (RMB 1).Government grants related to assets are recognized as deferred income. Government grants related to assets recognized as deferred income are amortized into current profit or loss on a straight-line basis over the useful lives of the related assets.Where the related assets are sold transferred scrapped or damaged before the end of their useful lives the unamortized balance of the related deferred income shall be transferred to profit or loss for the period of asset disposal.(XXXII) Deferred Tax Assets and Deferred Tax Liabilities The Company recognizes deferred tax assets and deferred tax liabilities based on the differences (temporary differences) between the tax bases of assets and liabilities and their carrying amounts. Deferred tax assets are recognized for deductible losses that can be carried forward to offset taxable income in future years in accordance with tax laws. Deferred tax 26 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) liabilities are not recognized for temporary differences arising from the initial recognition of goodwill. Deferred tax assets and deferred tax liabilities are not recognized for temporary differences arising from the initial recognition of assets or liabilities in transactions that are not business combinations and that affect neither accounting profit nor taxable income (or deductible losses). At the balance sheet date deferred tax assets and deferred tax liabilities are measured at the tax rates applicable in the periods in which the assets are expected to be recovered or the liabilities are expected to be settled.The Company recognizes deferred tax assets only to the extent that it is probable that future taxable income will be available against which deductible temporary differences deductible losses and tax credits can be utilized.(XXXIII) Leases When the Company as a lessee becomes a party to a lease contract where it has the right to obtain substantially all of the economic benefits from the use of an identified asset during the period of use and has the right to direct the use of the identified asset during such period it shall recognize lease liabilities at the present value of lease payments that are unpaid after deducting lease incentives (except for short-term leases and leases of low-value assets to which the simplified approach is applied) recognize right-of-use assets at the sum of the present value of lease liabilities lease payments made in advance and initial direct costs and recognize depreciation and interest expenses respectively.When the Company as a lessee becomes a party to a lease contract for short-term leases with a lease term of no more than one year and without a purchase option and leases with a value of less than RMB 40000 (excluding subleases or assets expected to be subleased) the Company elects to apply the simplified approach and recognize lease payments on a straight- line basis over the lease term in the relevant asset costs or current profit or loss.When the Company as a lessor becomes a party to a lease contract it classifies leases as operating leases or finance leases at the lease commencement date. A finance lease is a lease 26 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) that in substance transfers substantially all the risks and rewards incidental to ownership of an asset. An operating lease is a lease other than a finance lease. Lease income from operating leases is recognized on a straight-line basis over the lease term. For finance leases the net investment in the lease is recognized as finance lease receivables which is the sum of the unguaranteed residual value and the present value of lease payments not yet received at the lease commencement date.Where a contract contains both lease and non-lease components and such components can be separated the lease component shall be accounted for in accordance with the lease standards. Where a contract contains both lease and non-lease components and such components cannot be separated the entire contract shall be accounted for as a lease in accordance with the lease standards.For lease modifications it is necessary to assess whether they can be accounted for as a separate lease. Those meeting the criteria for a separate lease shall be recognized separately; for those that do not meet the criteria for a separate lease or where significant events or changes occur within the control of the lessee the present value of the lease liability shall be remeasured. The carrying amount of the right-of-use asset shall be adjusted accordingly.Where the carrying amount of the right-of-use asset has been reduced to zero but further reduction of the lease liability is required the lessee shall recognize the remaining amount in the corresponding expenses for the current period.(XXXIV) Accounting for Income Tax The accounting for income tax adopts the balance sheet liability method. Income tax expense includes current income tax and deferred income tax. Except for current income tax and deferred income tax related to transactions and events recognized directly in shareholders’ equity which are recognized in shareholders’ equity and deferred income tax arising from business combinations which adjusts the carrying amount of goodwill all other current and deferred income tax expenses or income are recognized in current profit or loss. 27 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Current income tax refers to the amount of income tax payable to tax authorities calculated in accordance with tax regulations for transactions and events occurring in the current period; deferred income tax refers to the differences between the ending balances of deferred tax assets and deferred tax liabilities determined under the balance sheet liability method and their previously recognized amounts.(XXXV) Segment Information The Company adopts business segments as the primary form for segment reporting.During the reporting period the segments are specifically classified into four segments: air conditioning business refrigerator freezer and washing machine business small household appliances business and other business. Inter-segment transfer pricing is determined with reference to market prices. Common expenses except for those that cannot be reasonably allocated are allocated among different segments based on the proportion of revenue.(XXXVI) Description of Significant Accounting Estimates In preparing the financial statements the Company’s management is required to make estimates and assumptions which affect the application of accounting policies and the amounts of assets liabilities income and expenses. Actual results may differ from these estimates. The Company’s management continuously evaluates judgments related to key assumptions and uncertainties involved in the estimates. The effects of changes in accounting estimates are recognized in the period of change and in future periods.The following accounting estimates and key assumptions involve significant risks that may result in material adjustments to the carrying amounts of assets and liabilities in future periods. 1. Provision for inventory impairment The provision for inventory impairment recognized by the Company at the balance sheet date represents the excess of inventory cost over its net realizable value. For inventories of finished goods goods delivered but not yet accepted materials held for sale and low-value 27 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) consumables held for sale the net realizable value is determined based on the estimated selling price of such inventories less the estimated selling expenses and relevant taxes; for material inventories held for production the net realizable value is determined based on the estimated selling price of the finished goods to be produced less the estimated costs to completion estimated selling expenses and relevant taxes. 2. Accounting estimates for impairment of long-term assets At the balance sheet date the Company performs impairment tests on fixed assets such as buildings and machinery and equipment as well as long-term assets such as goodwill where there are indications of impairment. The recoverable amounts of the relevant asset groups and groups of asset groups are the present values of their estimated future cash flows the calculation of which requires the use of accounting estimates.If management revises the gross profit margin or discount rate used in estimating future cash flows of asset groups and groups of asset groups and the revised gross profit margin is lower than the currently adopted margin or the revised discount rate is higher than the currently adopted rate the Company will need to increase the provision for impairment. If the actual gross profit margin is higher (or the discount rate is lower) than management’s estimates the Company shall not reverse the previously recognized impairment provisions for long-term assets. 3. Accounting estimates for recognition of deferred tax assets The estimation of deferred tax assets requires estimates of taxable income and applicable tax rates for future periods and the realization of deferred tax assets depends on whether it is probable that sufficient taxable income will be available in the future for each entity. Changes in future tax rates and the timing of reversal of temporary differences may also affect income tax expenses (income) and the balances of deferred tax. Changes in the above estimates may result in significant adjustments to deferred tax. 27 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) 4. Useful lives and residual value rates of fixed assets and intangible assets The Company reviews the estimated useful lives and residual value rates of fixed assets and intangible assets at least at each year-end. The estimated useful lives and residual value rates are determined by management based on historical experience with similar assets with reference to estimates commonly adopted in the industry and in light of expected technological upgrades. Where there are significant changes in previous estimates depreciation and amortization expenses for future periods shall be adjusted accordingly.(XXXVII) Other Comprehensive Income Other comprehensive income refers to gains and losses that are not recognized in current profit or loss in accordance with other accounting standards.Items of other comprehensive income shall be presented in the following two categories in accordance with relevant accounting standards: 1. Items of other comprehensive income that will not be reclassified to profit or loss in subsequent accounting periods mainly including changes arising from remeasurement of net defined benefit liabilities or assets and the share of other comprehensive income of the investee that will not be reclassified to profit or loss in subsequent periods under the equity method etc.; 2. Items of other comprehensive income that will be reclassified into profit or loss in subsequent accounting periods when specified conditions are met mainly including the share of other comprehensive income of the investee that will be reclassified into profit or loss in subsequent periods when specified conditions are met under the equity method changes in fair value of debt investments measured at fair value with changes recognized in other comprehensive income the difference between the original carrying amount and fair value recognized in other comprehensive income when a financial asset measured at amortized cost is reclassified as a financial asset measured at fair value with changes recognized in other comprehensive income loss allowances for financial assets measured at fair value with 27 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) changes recognized in other comprehensive income the effective portion of gains or losses arising from cash flow hedging instruments and exchange differences arising from translation of foreign currency financial statements etc.(XXXVIII) Changes in Significant Accounting Policies and Accounting Estimates There were no changes in significant accounting policies or accounting estimates of the Company during the current period.IV. Taxation (I) Principal Types of Taxes and Tax Rates Types of taxes Basis of assessment Tax rates Output VAT is calculated based on revenue from the sale of goods and taxable services in Value-added tax 13% 9% 6% 5% accordance with tax laws. Payable VAT is the (vat) 3% balance after deducting deductible input VAT for the current period.Levied at 1.2% on the residual value of the original value of the property after a one-time deduction of Property tax 1.2% 12% 30% for tax assessed on value; levied at 12% on rental income for tax assessed on rent.Land use tax Land area 1-6 yuan/m2 Urban maintenance and construction Based on the actual amount of turnover tax paid. 7% 5% tax Education Based on the actual amount of turnover tax paid. 3% surcharge Local education Based on the actual amount of turnover tax paid. 2% surcharge Enterprise income 29% 25% 22% Based on taxable income tax 20% 15% Explanation of enterprise income tax rates for taxable entities with different tax rates Name of taxable entity Income tax rate 27 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Name of taxable entity Income tax rate The Company 15.00% Zhongke Meiling Cryogenic Technology Co. Ltd. 15.00% Zhongshan Changhong Electric Co. Ltd. 15.00% Sichuan Hongmei Intelligent Technology Co. Ltd. 15.00% Mianyang Meiling Refrigeration Co. Ltd. 15.00% Hongyuan Ground Energy Heat Pump Technology (Zhongshan) 15.00% Co. Ltd.Hefei Meiling Nonferrous Metal Products Co. Ltd. 15.00% Jiangxi Meiling Electric Appliance Co. Ltd. 15.00% Sichuan Changhong Air Conditioner Co. Ltd. 15.00% Hefei Meiling IoT Technology Co. Ltd. 15.00% Anhui Tuoxing Technology Co. Ltd. 20.00% Guangzhou Changhong Trading Co. Ltd. 20.00% Hebei Hongmao Household Appliance Technology Co. Ltd. 20.00% CH-Meiling International (Philippines) Inc. 20.00% Changhong Ruba Trading Company (Private) Limited 29.00% CHANGHONG MEILING ELECTRIC INDONESIAPT 22.00% Other taxable entities not listed above 25.00% (II) Preferential Tax Treatments 1. Enterprise Income Tax (1) On November 30 2023 the Company obtained the High-Tech Enterprise Certificate (No. GR2020340006385) approved by the Department of Science and Technology of Anhui Province Department of Finance of Anhui Province and Anhui Provincial Taxation Bureau of State Taxation Administration and is entitled to a preferential enterprise income tax rate of 15% as a national high-tech enterprise valid for three years. (2) On October 16 2023 the subsidiary Zhongke Meiling Cryogenic Technology Co. 27 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Ltd. obtained the High-Tech Enterprise Certificate (No. GR202334003036) approved by the Department of Science and Technology of Anhui Province Department of Finance of Anhui Province and Anhui Provincial Taxation Bureau of State Taxation Administration and is entitled to a preferential enterprise income tax rate of 15% as a national high-tech enterprise valid for three years. (3) On December 28 2023 the subsidiary Zhongshan Changhong Electric Co. Ltd. obtained the High-Tech Enterprise Certificate (No. GR202344012950) approved by the Department of Science and Technology of Guangdong Province Department of Finance of Guangdong Province and Guangdong Provincial Taxation Bureau of State Taxation Administration and is entitled to a preferential enterprise income tax rate of 15% as a national high-tech enterprise valid for three years. (4) On December 6 2024 the subsidiary Sichuan Hongmei Intelligent Technology Co. Ltd. obtained the High-Tech Enterprise Certificate (No. GR202451002000) approved by the Department of Science and Technology of Sichuan Province Department of Finance of Sichuan Province and Sichuan Provincial Taxation Bureau of State Taxation Administration and is entitled to a preferential enterprise income tax rate of 15% as a national high-tech enterprise valid for three years. (5) The subsidiary Mianyang Meiling Refrigeration Co. Ltd. is engaged in an encouraged industry under the Catalogue for the Guidance of Industrial Structure Adjustment and enjoys the preferential enterprise income tax policy for the Western Development Program with enterprise income tax levied at a reduced rate of 15% valid until December 31 2030. (6) On December 19 2025 the subsidiary Hongyuan Ground Energy Heat Pump Technology (Zhongshan) Co. Ltd. obtained the High-Tech Enterprise Certificate (No.GR202544003885) approved by the Department of Science and Technology of Guangdong Province Department of Finance of Guangdong Province and Guangdong Provincial 27 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Taxation Bureau of the State Taxation Administration and is entitled to a preferential enterprise income tax rate of 15% as a national high-tech enterprise valid for three years. (7) On November 28 2024 the subsidiary Hefei Meiling Nonferrous Metal Products Co. Ltd. obtained the High-Tech Enterprise Certificate (No. GR202434004167) approved by the Department of Industry and Information Technology of Anhui Province Department of Finance of Anhui Province and Anhui Provincial Taxation Bureau of the State Taxation Administration and is entitled to a preferential enterprise income tax rate of 15% as a national high-tech enterprise valid for three years. (8) On October 29 2025 the subsidiary Jiangxi Meiling Electric Appliance Co. Ltd. obtained the High-Tech Enterprise Certificate (No. GR202536001877) approved by the Department of Science and Technology of Jiangxi Province Department of Finance of Jiangxi Province and Jiangxi Provincial Taxation Bureau of the State Taxation Administration and is entitled to a preferential enterprise income tax rate of 15% as a national high-tech enterprise valid for three years. (9) On December 8 2025 the subsidiary Sichuan Changhong Air Conditioner Co. Ltd. obtained the High-Tech Enterprise Certificate (No. GR202551002043) approved by the Department of Science and Technology of Sichuan Province Department of Finance of Sichuan Province and the State Taxation Administration and is entitled to a preferential enterprise income tax rate of 15% as a national high-tech enterprise valid for three years. (10) On November 28 2024 the subsidiary Hefei Meiling IoT Technology Co. Ltd. obtained the High-Tech Enterprise Certificate (No. GR202434004986) approved by the Department of Science and Technology of Anhui Province Department of Finance of Anhui Province and Anhui Provincial Taxation Bureau of the State Taxation Administration and is entitled to a preferential enterprise income tax rate of 15% as a national high-tech enterprise valid for three years. (11) In accordance with the provisions of the Announcement on Further Supporting the 27 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Development of Small and Micro Enterprises and Individual Industrial and Commercial Households (Announcement No. 12 of 2023 of the Ministry of Finance and the State Taxation Administration) the policy of calculating taxable income at 25% of the statutory rate and paying enterprise income tax at 20% for small and micro-profit enterprises shall be extended to December 31 2027. The subsidiaries Anhui Tuoxing Technology Co. Ltd. Guangzhou Changhong Trading Co. Ltd. and Hebei Hongmao Household Appliance Technology Co. Ltd.are eligible for the above preferential policies in the current year. 2. Value-Added Tax (1) In accordance with the provisions of the Announcement on the Policy of Additional Deduction of Input VAT for Advanced Manufacturing Enterprises (Announcement No. 43 of 2023 of the Ministry of Finance and the State Taxation Administration) advanced manufacturing enterprises are allowed to deduct an additional 5% of the deductible input VAT for the current period against the payable VAT from January 1 2023 to December 31 2027.The Company and its subsidiaries Zhongke Meiling Cryogenic Technology Co. Ltd.Zhongshan Changhong Electric Co. Ltd. Hongyuan Ground Energy Heat Pump Technology (Zhongshan) Co. Ltd. Hefei Meiling Nonferrous Metal Products Co. Ltd. Jiangxi Meiling Electric Appliance Co. Ltd. and Sichuan Changhong Air Conditioner Co. Ltd. are eligible for the above preferential policies. (2) In accordance with the Notice on VAT Policies for Software Products (C.S. [2011] No. 100) issued by the Ministry of Finance and the State Administration of Taxation general VAT taxpayers selling self-developed and self-produced software products are subject to VAT at 13% and the portion of the actual VAT burden exceeding 3% shall be refunded upon collection. The subsidiaries Zhongke Meiling Cryogenic Technology Co. Ltd. and Sichuan Hongmei Intelligent Technology Co. Ltd. are eligible for the above preferential policies.V. Notes to Items in the Consolidated Financial Statements 27 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (I) Notes to Items in the Consolidated Balance Sheet 1. Cash and Cash Equivalents Items Ending balance Beginning balance Cash on hand 9657.12 19623.13 5431765667.465430927146.17 Cash in bank 447929063.69492614908.35 Other monetary funds Deposits in finance companies 4306957481.67 4568889072.96 10186661869.9410492450750.61 Total 41364305.2539440542.18 Including: Total deposits overseas 2. Derivative Financial Assets Items Ending balance Beginning balance Forward foreign exchange contracts 61841784.71 72010074.43 Total 61841784.71 72010074.43 3. Accounts Receivable (1) Aging Analysis Aging Ending balance Beginning balance Within 1 year (inclusive) 2026453487.32 1497253392.98 Including: Within 3 months 1728453969.40 1368463315.70 3 - 6 months 224531570.07 97181265.60 6 months - 1 year 73467947.85 31608811.68 1-2 years 60138517.19 75307523.19 2-3 years 26851816.90 87182259.34 Over 3 years 213760002.68 188612629.93 Total 2327203824.09 1848355805.44 (2) Provision for Bad Debts 1) Details by Category 27 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Ending balance Carrying balance Provision for bad debts Category Provisio Carrying value Proporti Amount Amount n ratio on (%) (%) Accounts receivable with 1145354844.6349.21180888879.3415.79964465965.29 provision made individually Including: Receivables with 138741357.985.96138741357.98 letters of credit Related party balances 940509695.82 40.41 129281437.51 13.75 811228258.31 Receivables with individually made provision 66103790.832.8451607441.8378.0714496349.00 despite immaterial individual amounts Accounts receivable with provision made on a portfolio 1181848979.46 50.79 131370453.42 11.12 1050478526.04 basis Including: Receivables from 167934094.477.2250539888.6230.10117394205.85 engineering customers Receivables from non- 1013914884.9943.5780830564.807.97933084320.19 engineering customers Total 2327203824.09 100.00 312259332.76 13.42 2014944491.33 (Continued) Beginning balance Carrying balance Provision for bad debts Category Provisi Carrying value Proporti Amount Amount on ratio on (%) (%) Accounts receivable with 736905399.8739.87174360359.8723.66562545040.00 provision made individually Including: Receivables with 204543428.3611.07204543428.36 letters of credit Related party balances 485828526.67 26.28 129934772.07 26.74 355893754.60 Receivables with individually made provision 46533444.842.5244425587.8095.472107857.04 despite immaterial individual amounts 28 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Beginning balance Carrying balance Provision for bad debts Category Provisi Carrying value Proporti Amount Amount on ratio on (%) (%) Accounts receivable with provision made on a portfolio 1111450405.57 60.13 146017071.09 13.14 965433334.48 basis Including: Receivables from 185634242.2410.0454756852.9029.50130877389.34 engineering customers Receivables from non- 925816163.3350.0991260218.199.86834555945.14 engineering customers Total 1848355805.44 100.00 320377430.96 17.33 1527978374.48 2) Accounts Receivable with Individually Made Provision despite Immaterial Individual Amounts at the End of the Period Accounts receivable with individually made provision despite immaterial individual amounts at the end of the period are receivables with small individual balances for which portfolio-based provision cannot reflect their risk characteristics involving 127 customers. 3) Accounts Receivable with Provision Made on Aging Portfolio Basis * Receivables from engineering customers Ending balance Aging Provision for bad Carrying balance Provision ratio (%) debts Within 3 months (inclusive) 47286995.46 3 - 6 months 27243824.94 6 months - 1 year 15022930.50 1-2 years 20138271.61 4027654.32 20.00 2-3 years 23459675.32 11729837.66 50.00 Over 3 years 34782396.64 34782396.64 100.00 Subtotal 167934094.47 50539888.62 30.10 28 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (Continued) Beginning balance Aging Provision for bad Carrying balance Provision ratio (%) debts Within 3 months (inclusive) 25327660.33 3 - 6 months 14901434.29 6 months - 1 year 28923666.97 1-2 years 56974354.61 11394870.93 20.00 2-3 years 32290288.15 16145144.08 50.00 Over 3 years 27216837.89 27216837.89 100.00 Subtotal 185634242.24 54756852.90 29.50 * Receivables from non-engineering customers Ending balance Aging Provision for bad Carrying balance Provision ratio (%) debts Within 3 months (inclusive) 857122825.10 8571228.26 1.00 3 - 6 months 83699552.61 8369955.27 10.00 6 months - 1 year 10790286.62 2158057.32 20.00 1-2 years 1112115.09 556057.55 50.00 2-3 years 74195.82 59356.65 80.00 Over 3 years 61115909.75 61115909.75 100.00 Subtotal 1013914884.99 80830564.80 7.97 (Continued) Beginning balance Aging Provision for bad Carrying balance Provision ratio (%) debts Within 3 months (inclusive) 832210142.16 8322101.42 1.00 28 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Beginning balance Aging Provision for bad Carrying balance Provision ratio (%) debts 3 - 6 months 8867933.33 886793.33 10.00 6 months - 1 year 2545036.25 509007.25 20.00 1-2 years 1083159.99 541580.00 50.00 2-3 years 545777.06 436621.65 80.00 Over 3 years 80564114.54 80564114.54 100.00 Subtotal 925816163.33 91260218.19 9.86 (3) Changes in Provision for Bad Debts 1) Details Changes during the period Beginning Items Ending balance balance Recovery or Write- Provision Others reversal off Provision made 174360359.87 23275237.84 17336718.33 589999.96 180888879.34 individually Provision made on a 146017071.09 -14313788.18 -332829.49 131370453.42 portfolio basis Total 320377430.96 8961449.66 17336718.33 257170.47 312259332.76 2) Significant Recovery or Reversal of Provision for Bad Debts during the Period Basis and Recovery or Reason for Method of reasonableness of Name of Entity reversal amount reversal recovery original provision for bad debts Mainly the recovery of Sichuan Zhiyijia bad debts previously Collection Customer Network Technology 13739400.00 provided due to the of amounts repayment Co. Ltd. deteriorating operation of Gome Subtotal 13739400.00 28 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (4) Top 5 Accounts Receivable and Contract Assets by Balance The aggregate amount of the top five accounts receivable and contract assets by balance at the end of the period amounted to RMB 905657274.73 accounting for 38.89% of the total ending balance of accounts receivable and contract assets with the corresponding total provision for bad debts amounting to RMB 103634265.82. 4. Accounts Receivable Financing (1) Details Items Ending balance Beginning balance Bank acceptances 400661889.26 1482928143.55 Finance company acceptances 9268697.13 34059810.28 Total 409930586.39 1516987953.83 (2) Provision for Impairment Ending balance Provision for bad Carrying balance Category debts Carrying value Provision Amount Proportion (%) Amount ratio (%) Impairment provision 100.00 made 409930586.39 409930586.39 individually Including: Bank 97.74 400661889.26400661889.26 acceptances Finance company 9268697.13 2.26 9268697.13 acceptances Total 100.00 409930586.39409930586.39 (Continued) 28 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Beginning balance Provision for bad Carrying balance Category debts Carrying value Provision Amount Proportion (%) Amount ratio (%) Impairment provision 1516987953.83100.001516987953.83 made individually Including: Bank 1482928143.55 97.75 1482928143.55 acceptances Finance company 34059810.28 2.25 34059810.28 acceptances Total 1516987953.83 100.00 1516987953.83 (3) Changes in Credit Impairment Provision No provision recovery or reversal of bad debt provision was made during the period. (4) Pledged Accounts Receivable Financing at the End of the Period Pledged amount at the end of the Items period Bank acceptances 10284209.60 Subtotal 10284209.60 Note: To improve the utilization rate of bills the Company pledged some undue notes receivable to banks to issue bank acceptances. For details of pledged notes receivable please refer to Note V(I)24 Assets with Restricted Ownership or Right of Use. (5) Accounts Receivable Financing Endorsed or Discounted by the Company and Not Yet Due at the Balance Sheet Date Amounts derecognized at the end Items of the period 28 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amounts derecognized at the end Items of the period Bank acceptances 1405119886.90 Finance company acceptances 28234214.98 Subtotal 1433354101.88 5. Prepayments (1) Aging Analysis Ending balance Aging Proportion Provision for Carrying balance Carrying value (%) impairment Within 1 year 92298229.8899.6092298229.88 (inclusive) 1-2 years 327676.10 0.35 327676.10 2-3 years 22192.29 0.03 22192.29 Over 3 years 19419.21 0.02 19419.21 Total 92667517.48 100.00 92667517.48 (Continued) Beginning balance Aging Proportion Provision for Carrying balance Carrying value (%) impairment Within 1 year 59929582.8399.3059929582.83 (inclusive) 1-2 years 266216.81 0.44 266216.81 2-3 years 47912.63 0.08 47912.63 Over 3 years 108633.00 0.18 108633.00 Total 60352345.27 100.00 60352345.27 (2) Top Five Prepayments by Balance The aggregate amount of the top five prepayments by payee at the end of the period amounted 28 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) to RMB 79654807.06 accounting for 85.96% of the total ending balance of prepayments. 6. Other Receivables (1) Details Items Ending balance Beginning balance Dividends receivable 12124951.70 Other receivables 41558190.51 123266319.09 Total 41558190.51 135391270.79 (2) Dividends Receivable Items Ending balance Beginning balance Sichuan Zhiyijia Network Technology Co. 11849751.70 Ltd.Sichuan Hongyun New Generation Information Technology Venture Capital Fund 275200.00 Partnership Enterprise (Limited Partnership) Subtotal 12124951.70 (3) Other Receivables 1) Classification by Nature of Funds Nature of funds Ending balance Beginning balance Staff imprest loans 13690886.55 15452988.04 Deposits 15438672.52 11343322.56 Export tax rebates 14390254.25 95274068.20 Related party balances 420041.56 3020490.22 Others 1251838.02 1327326.50 Subtotal 45191692.90 126418195.52 2) Aging Analysis Aging Ending balance Beginning balance 28 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Aging Ending balance Beginning balance Within 3 months 28670316.46 112225289.22 3 - 6 months 1945629.74 787433.33 6 months - 1 year 2126167.97 3137720.39 1-2 years 4024836.61 2433214.96 2-3 years 1629908.14 2216446.08 Over 3 years 6794833.98 5618091.54 Subtotal 45191692.90 126418195.52 3) Provision for Bad Debts Ending balance Carrying balance Provision for bad debts Category Carrying value Proporti Provision Amount Amount on (%) ratio (%) Provision made individually 44965306.70 99.50 3560424.62 7.92 41404882.08 Including: Other receivables with individually made provision 30155010.8966.733560424.6211.8126594586.27 despite immaterial individual amounts Export tax rebates receivable 14390254.25 31.84 14390254.25 Related party balances 420041.56 0.93 420041.56 Provision made on a portfolio 226386.200.5073077.7732.28153308.43 basis Including: Other receivables provided for on aging 226386.20 0.50 73077.77 32.28 153308.43 portfolio basis Total 45191692.90 100.00 3633502.39 8.04 41558190.51 (Continued) Beginning balance Carrying balance Provision for bad debts Category Carrying value Proporti Provision ratio Amount Amount on (%) (%) 28 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Beginning balance Carrying balance Provision for bad debts Category Carrying value Proporti Provision ratio Amount Amount on (%) (%) Provision made individually 126192156.34 99.82 3057306.45 2.42 123134849.89 Including: Other receivables with individually made provision 27897597.9222.073057306.4510.9624840291.47 despite immaterial individual amounts Export tax rebates receivable 95274068.20 75.36 95274068.20 Related party balances 3020490.22 2.39 3020490.22 Provision made on a portfolio 226039.180.1894569.9841.84131469.20 basis Including: Other receivables provided for on aging 226039.18 0.18 94569.98 41.84 131469.20 portfolio basis Total 126418195.52 100.00 3151876.43 2.49 123266319.09 4) Changes in Provision for Bad Debts * Details Stage 1 Stage 2 Stage 3 Expected credit Expected credit Items Expected credit loss for the entire loss for the entire Subtotal loss for the next period (no credit period (credit 12 months impairment impairment incurred) incurred) Beginning balance 5931.27 22405.08 3123540.08 3151876.43 Beginning balance in ———————— the current period --Transfer to Stage 2 --Transfer to Stage 3 --Reversal to Stage 2 --Reversal to Stage 1 28 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Stage 1 Stage 2 Stage 3 Expected credit Expected credit Items Expected credit loss for the entire loss for the entire Subtotal loss for the next period (no credit period (credit 12 months impairment impairment incurred) incurred) Provision made -123.5315925.02 during the period 468626.34 484427.83 Recovery or reversal during the period 1147.25 1147.25 Write-off during the period Other changes -1654.62 -1654.62 Ending balance 4153.12 38330.10 3591019.17 3633502.39 * Provision recovery or reversal of bad debt provisions for other receivables in the current period Changes during the period Beginning Category Ending balance Recovery or Write-off or balance Provision Others reversal derecognition Provision made 3057306.45 504265.42 1147.25 3560424.62 individually Provision made on a 94569.98-19837.59-1654.6273077.77 portfolio basis Total 3151876.43 484427.83 1147.25 -1654.62 3633502.39 5) Actual Write-off of Other Receivables during the Period No other receivables were written off by the Company during the period. 6) Top 5 Other Receivables by Balance 29 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Provision Carrying Percentage of for bad Nature of amount at the other Name of Entity Aging debts at the funds end of the receivables end of the period balance (%) period Export tax Within 3 Provincial State 14390254.25 31.84 Taxation Bureau rebate months Zhongshan Nantou 3 months - 2 Town Assets Deposits 3010561.28 6.66 Investment and years Operation Co. Ltd.Within 3 Staff imprest 2401043.99 5.31 Liu Qingsong months Education Bureau of Within 3 Deposits 1127305.30 2.49 Jinniu District months Chengdu Within 3 Staff imprest 1019237.45 2.26 He Xiaowen months Subtotal 21948402.27 48.56 7. Inventories (1) Details Ending balance Items Provision for decline in Carrying balance Carrying value value / impairment Raw materials 223499248.36 6074475.00 217424773.36 Low-value 103761.0338674.4165086.62 consumables Deferred amortization 75100660.8875100660.88 of molds etc.Goods on hand 1351056971.25 108942269.30 1242114701.95 Goods in transit 546933915.62 15497182.36 531436733.26 Work in progress 10074421.95 10074421.95 Contract performance 3528619.583528619.58 costs Total 2210297598.67 130552601.07 2079744997.60 29 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (Continued) Beginning balance Items Provision for decline in Carrying balance Carrying value value / impairment Raw materials 212959918.52 5083192.31 207876726.21 Low-value 266404.7897317.58169087.20 consumables Deferred amortization 90498578.8890498578.88 of molds etc.Goods on hand 2140311193.05 101125135.79 2039186057.26 Goods in transit 1144852004.99 9982021.26 1134869983.73 Work in progress 10482237.67 39214.30 10443023.37 Contract performance 31928661.074108.3831924552.69 costs Total 3631298998.96 116330989.62 3514968009.34 (2) Provision for Inventory Impairment and Impairment of Contract Performance Costs 1) Details Increase for the period Decrease for the period Beginning Items Ending balance balance Reversal or Other Provision Others write-off s Raw materials 5083192.31 4808284.36 3817001.67 6074475.00 Low-value 97317.5826514.0685157.2338674.41 consumables Goods on hand 101125135.79 59391589.64 263736.54 51838192.67 108942269.30 Goods in transit 9982021.26 31218122.82 25702961.72 15497182.36 Work in 39214.3039214.30 progress Contract performance 4108.38 4108.38 costs Total 116330989.62 95444510.88 263736.54 81486635.97 130552601.07 29 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) 2) Specific Basis for Determining Net Realizable Value and Reasons for Reversal or Write-Off of Inventory Impairment Provision during the Period Reasons for reversal or Items Specific basis for determining net realizable value write-off during the period Cost exceeds net realizable value (impairment exists Raw materials For production in processed finished products) Cost exceeds net realizable value (market price Goods on hand For sale decline at period end) Cost exceeds net realizable value (market price Goods in transit For sale decline at period end) Low-value Cost exceeds net realizable value Already utilized consumables Contract Construction cost exceeds net realizable value Already utilized performance costs (impairment exists in processed finished products) 8 Contract Assets (1) Details Ending balance Items Provision for Carrying balance Carrying value impairment Retention money 1187133.55 461708.05 725425.50 Total 1187133.55 461708.05 725425.50 (Continued) Beginning balance Items Provision for Carrying balance Carrying value impairment Retention money 3226503.19 462636.22 2763866.97 Total 3226503.19 462636.22 2763866.97 (2) Reasons for Significant Changes in the Carrying Amount of Contract Assets during the Period 29 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Items Change amount Reason for change Retention money due reclassification of Retention money -2038441.47 contract assets to receivables Subtotal -2038441.47 (3) Provision for Impairment Ending balance Carrying balance Provision for impairment Category Proportion Provision Carrying value Amount Amount (%) ratio (%) Impairment provision made 1187133.55 100.00 461708.05 38.89 725425.50 individually Total 1187133.55 100.00 461708.05 38.89 725425.50 (Continued) Beginning balance Carrying balance Provision for impairment Category Proportion Provision Carrying value Amount Amount (%) ratio (%) Impairment provision made 3226503.19 100.00 462636.22 14.34 2763866.97 individually Total 3226503.19 100.00 462636.22 14.34 2763866.97 (4) Changes in Impairment Provision Changes during the period Beginning Items balance Recovery or Write-off / Ending balance Provision Others reversal derecognition Impairment provision 462636.22928.17461708.05 made individually Total 462636.22 928.17 461708.05 29 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) 9. Non-current Assets Due within One Year (1) Details Ending balance Beginning balance Items Provision Provision Carrying Carrying balance for Carrying value for Carrying value balance impairment impairment Debt investments 656205518.06656205518.0653831301.3753831301.37 due within one year Retention money due 3620602.65 30000.00 3590602.65 6531620.47 120000.00 6411620.47 within one year Total 659826120.71 30000.00 659796120.71 60362921.84 120000.00 60242921.84 (2) Details of Debt Investments Due within One Year Ending balance Beginning balance Prov Prov ision ision Items Carrying for Carrying for Carrying value Carrying value balance impa balance impa irme irme nt nt Time deposits large-sum 656205518.06656205518.0653831301.3753831301.37 certificates of deposit Total 656205518.06 656205518.06 53831301.37 53831301.37 (3) Material Debt Investments Due within One Year at Period End Ending balance Items Coupon rate Effective Overdue Face value Maturity date (%) interest rate (%) principal Time deposit 150000000.00 2.70 2.70 2026-8-7 Subtotal 150000000.00 29 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) 10. Other Current Assets Ending balance Beginning balance Provis Provisi Items ion on for Carrying balance Carrying value Carrying balance for Carrying value impair impair ment ment Prepaid VAT 6591963.44 6591963.44 2148305.212148305.21 Prepaid enterprise 38375210.1338375210.13 income tax 46506438.38 46506438.38 Deductible input 199284116.97199284116.97 VAT 190382026.90 190382026.90 Time deposits held 253112899.55253112899.55 to maturity 53335578.88 53335578.88 Large-sum certificates of 54770499.4354770499.43 deposit held to 70340986.30 70340986.30 maturity Local sales tax in 689887.41689887.41 Pakistan 608632.91 608632.91 Deferred expenses 9205786.05 9205786.05 9588955.309588955.30 Total 562030362.98 562030362.98 372910923.88372910923.88 11. Debt Investments (1) Details Ending balance Items Provision for Carrying balance Carrying value impairment Time deposits large-sum 1661029964.491661029964.49 certificates of deposit Total 1661029964.49 1661029964.49 (Continued) Beginning balance Items Provision for Carrying balance Carrying value impairment 29 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Beginning balance Items Provision for Carrying balance Carrying value impairment Time deposits large-sum 1474153793.171474153793.17 certificates of deposit Total 1474153793.17 1474153793.17 (2) Material Debt Investments at Period End Ending balance Items Coupon rate Effective Overdue Face value Maturity date (%) interest rate (%) principal Time deposit 250000000.00 3.05 3.05 2027-5-24 Large-sum certificates of 150000000.00 3.15 3.15 2027-5-16 deposit Large-sum certificates of 100000000.00 2.60 2.60 2027-6-21 deposit Subtotal 500000000.00 (Continued) Beginning balance Items Effective Overdue Face value Coupon rate (%) Maturity date interest rate (%) principal Time deposit 250000000.00 3.05 3.05 2027-5-24 Large-sum certificates of 150000000.00 3.15 3.15 2027-5-16 deposit Large-sum certificates of 100000000.00 2.60 2.60 2027-6-21 deposit Time deposit 150000000.00 2.70 2.70 2026-8-7 29 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Beginning balance Items Effective Overdue Face value Coupon rate (%) Maturity date interest rate (%) principal Subtotal 650000000.00 12. Long-term Equity Investments (1) Classification Ending balance Items Provision for Carrying balance Carrying value impairment Investments in 91246211.343097405.0088148806.34 associates Total 91246211.34 3097405.00 88148806.34 (Continued) Beginning balance Items Provision for Carrying balance Carrying value impairment Investments in 84608551.823097405.0081511146.82 associates Total 84608551.82 3097405.00 81511146.82 (2) Details Beginning balance Changes during the period Investment Adjustment to Investee Provision for Additional Disposal of income other Carrying value impairment investment investment recognized under comprehensive equity method income Associates Sichuan Zhiyijia Network 60175669.078649710.97 Technology Co.Ltd.Hefei Xingmei 14164491.99 81757.02 Asset Management 29 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Beginning balance Changes during the period Investment Adjustment to Investee Provision for Additional Disposal of income other Carrying value impairment investment investment recognized under comprehensive equity method income Associates Co. Ltd.Chengdu Guigu Environmental 4495425.393008655.00-1164382.41 Technology Co.Ltd.Sichuan Tianyou Guigu Technology 2675560.37 88750.00 -254635.11 Co. Ltd.Hefei Xinmei Solar Energy Technology Co. Ltd.Changhong Ruba Electric Company (Private) Ltd.Total 81511146.82 3097405.00 7312450.47 (Continued) Changes during the period Ending balance Other Declaration of Investee changes cash dividends Provision for Other Provision for Carrying value in or profit impairment s impairment equity distributions Associates Sichuan Zhiyijia Network 674790.9568150589.09 Technology Co.Ltd.Hefei Xingmei Asset Management 14246249.01 Co. Ltd.Chengdu Guigu Environmental 3331042.983008655.00 Technology Co.Ltd. 29 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Changes during the period Ending balance Other Declaration of Investee changes cash dividends Provision for Other Provision for Carrying value in or profit impairment s impairment equity distributions Associates Sichuan Tianyou Guigu Technology 2420925.26 88750.00 Co. Ltd.Hefei Xinmei Solar Energy Technology Co. Ltd.Changhong Ruba Electric Company (Private) Ltd.Total 674790.95 88148806.34 3097405.00 13. Other Non-current Financial Assets Fair value at end of Fair value at beginning of Items period period Sichuan Changhong Group Finance Co. Ltd. 559215176.05 556681286.83 Sichuan Hongyun New Generation Information Technology Venture Capital Fund Partnership 19652435.25 30929099.25 Enterprise (Limited Partnership) Changhong Group Sichuan Shenwan Hongyuan Strategic New Industrial Parent Fund Partnership 53674658.46 69913918.36 (Limited Partnership) Huishang Bank Co. Ltd. 29290000.00 18570000.00 Total 661832269.76 676094304.44 14. Investment Properties Buildings and Items Total structures Original carrying value Beginning balance 97362612.42 97362612.42 Increase for the period 30 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Buildings and Items Total structures Decrease for the period 445547.34 445547.34 (1) Transfer to fixed assets 445547.34 445547.34 Ending balance 96917065.08 96917065.08 Accumulated depreciation and amortization Beginning balance 30641761.73 30641761.73 Increase for the period 3124204.75 3124204.75 (1) Depreciation or amortization provided 3124204.75 3124204.75 Decrease for the period 236737.37 236737.37 (1) Transfer to fixed assets 236737.37 236737.37 Ending balance 33529229.11 33529229.11 Carrying value Carrying amount at end of period 63387835.97 63387835.97 Carrying amount at beginning of period 66720850.69 66720850.69 15. Fixed Assets (1) Details Items Ending balance Beginning balance Fixed assets 2243836178.31 2186003136.01 Disposal of fixed assets 32293183.76 32847524.11 Total 2276129362.07 2218850660.12 (2) Fixed Assets 1) Details Buildings and Machinery and Transportation Items Other equipment Total structures equipment equipment Original carrying value Beginning balance 1926735273.03 2008694068.48 39848511.25 318556541.88 4293834394.64 30 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Buildings and Machinery and Transportation Items Other equipment Total structures equipment equipment Increase for the period 22293982.98 260186452.24 4981594.86 53210027.06 340672057.14 1) Purchase 165360.04 13587466.07 370440.71 3132648.84 17255915.66 2) Transfer from 21662003.29246205012.904611154.1549894956.81322373127.15 construction in progress 3) Transfer from 445547.34445547.34 investment properties 4) Others 21072.31 393973.27 182421.41 597466.99 Decrease for the period 1263059.34 107385692.22 3047440.66 21440362.25 133136554.47 1) Disposal or write-off 865853.43 87203933.39 2892452.73 14828093.90 105790333.45 2) Transfer to 20132306.766126073.8326258380.59 construction in progress 3) Decrease due to foreign currency 154987.93 96254.74 251242.67 translation 4) Others 397205.91 49452.07 389939.78 836597.76 Ending balance 1947766196.67 2161494828.50 41782665.45 350326206.69 4501369897.31 Accumulated depreciation Beginning balance 658583789.90 1249986359.00 26345062.66 166836619.33 2101751830.89 Increase for the period 62659380.43 158217914.03 2798288.70 27810952.29 251486535.45 1) Provision made 62422643.06157919562.742798288.7027808120.43250948614.93 2) Transfer from investment properties 236737.37 236737.37 3) Others 298351.29 2831.86 301183.15 Decrease for the period 278165.50 81581265.86 2816823.29 14729087.37 99405342.02 1) Disposal or write-off 278165.50 72212834.98 2747830.07 13755359.68 88994190.23 2) Transfer to 9368430.88602944.139971375.01 construction in progress 3) Effect of foreign 68993.2272432.27141425.49 currency translation 4) Others 298351.29 298351.29 30 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Buildings and Machinery and Transportation Items Other equipment Total structures equipment equipment Ending balance 720965004.83 1326623007.17 26326528.07 179918484.25 2253833024.32 Provision for impairment Beginning balance 199392.18 4854224.57 1025810.99 6079427.74 Increase for the period 2656187.11 2656187.11 1) Provision made 2656187.11 2656187.11 Decrease for the period 180195.88 4716560.87 138163.42 5034920.17 1) Disposal or write-off 180195.88 4716560.87 138163.42 5034920.17 Ending balance 19196.30 137663.70 3543834.68 3700694.68 Carrying value Carrying amount at end 1226781995.54834734157.6315456137.38166863887.762243836178.31 of period Carrying amount at 1267952090.95753853484.9113503448.59150694111.562186003136.01 beginning of period 2) Idle fixed assets temporarily Original Accumulated Provision for Items Carrying value Remarks carrying value depreciation impairment Machinery and 9846174.886352300.162899153.20594721.52 equipment Other equipment 193102.14 115714.39 77037.33 350.42 Subtotal 10039277.02 6468014.55 2976190.53 595071.94 3) Fixed assets leased out under operating leases Original Accumulated Provision for Items Carrying value Remarks carrying value depreciation impairment Buildings 95415485.61 42840030.99 52575454.62 Machinery and 22066918.3415186142.766880775.58 equipment Other equipment 290703.88 286078.60 4625.28 Subtotal 117773107.83 58312252.35 59460855.48 30 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) 4) Details of fixed assets without completed property right certificates Carrying amount at end of Reason for not completing Items period property right certificates Relevant ownership registration R&D Building No. 8 21960425.01 procedures are in progress.Subtotal 21960425.01 (3) Disposal of Fixed Assets Items Ending balance Beginning balance Disposal of assets related to land 32293183.7632293183.76 reservation Machinery and equipment pending 554340.35 commissioning Subtotal 32293183.76 32847524.11 In accordance with the urban construction planning requirements of Hefei Municipal Government and Feidong County Government the Land Reserve Center of Feidong County will acquire the land use rights respectively owned by Equator Electric and Equator Home Appliance (both subsidiaries of the Company) located in the Economic Development Zone of Feidong County Hefei City covering an area of 19245.09 square meters (equivalent to 28.87 mu Land Use Certificate No.: D.G.Y. [2008] No. 0366 purpose: industrial) and 46161.9 square meters (equivalent to 69.24 mu Land Use Certificate No.: D.G.Y. [2008] No. 0367 purpose: industrial). The total compensation for land reservation is approximately RMB 36.00 million of which the compensation for the land use right owned by Equator Electric is about RMB 10.59 million and that owned by Equator Home Appliance is about RMB 25.41 million.The Company has completed the relevant relocation work. The net book value of fixed assets related to the land has been transferred to disposal and will be accounted for in accordance with relevant accounting standards upon receipt of demolition compensation.There is no impairment for the disposal of assets related to land reservation at the end of the period. 30 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) 16. Construction in Progress (1) Details Items Ending balance Beginning balance 127282346.9097807983.40 Construction in progress 127282346.9097807983.40 Total (2) Construction in progress 1) Details Ending balance Beginning balance Prov Prov ision ision Items Carrying for Carrying for Carrying value Carrying value balance impa balance impa irme irme nt nt Equipment to be installed 14127931.84 14127931.84 2774000.00 2774000.00 Zhongshan Changhong Technical 11466767.2111466767.216432519.386432519.38 Transformation Project Air Conditioning Manufacturing System Capacity Improvement and 7192493.26 7192493.26 14077889.01 14077889.01 Renovation Project Washing Machine New Dryer Final 5299115.045299115.04 Assembly Line Equipment Project No.1 and No.3 Factory Premounting and Cleaning & Packaging Steel 4051910.00 4051910.00 Platform Construction Project Changhong Meiling Drum Washing Machine New Inner Tub Automatic 4035398.244035398.24 Welding & Forming Equipment Project Hefei Manufacturing Base Refrigerator Front-end Production 3954416.71 3954416.71 27527110.50 27527110.50 Capacity Improvement Project Hefei Refrigerator Manufacturing Company Sheet Extrusion and 3926794.823926794.823654455.493654455.49 Crushing Capacity Improvement Project 30 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Ending balance Beginning balance Prov Prov ision ision Items Carrying for Carrying for Carrying value Carrying value balance impa balance impa irme irme nt nt Special Renovation for Air Conditioning Company Site Utilization Improvement 3815677.673815677.67 (Infrastructure & Fire Renovation Project - Steel Platform for 2026 Cold Year) Washing Machine New Dryer Cabinet Front Cover Stamping & 3706194.70 3706194.70 Forming Equipment Project Quality Assurance Department Application for Changhong Meiling 2777198.422777198.4277358.4977358.49 Testing Center Intelligent Testing Equipment Renewal Project Factory No.1 Vacuum Line 2352920.362352920.36 Renovation Project Mianyang Changhong Smart Home 2349208.152349208.15 Appliance Project Drum Washing Machine New Inner Tub Stamping and Sub-assembly 2208849.56 2208849.56 Line Equipment Procurement Project Factory No.2 Line B Production of 830-width Refrigerator Foaming and 2116275.24 2116275.24 Line Equipment Renewal Project Process IT Department Application for 5G Base Station Equipment and 2044588.072044588.07 AR Demonstration Application Scenario Construction Project Lean Manufacturing Department Application for Hefei Refrigerator 1897842.201897842.20 Park Asphalt Road Renovation and Upgrade Project Washing Machine Premounting 1610619.471610619.47 Suspension Chain Project Washing Machine 2024 Investment in Injection Molding Equipment 1486608.191486608.19109077.75109077.75 Supporting Foundation and Water- Electricity-Gas Infrastructure Project 30 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Ending balance Beginning balance Prov Prov ision ision Items Carrying for Carrying for Carrying value Carrying value balance impa balance impa irme irme nt nt Manufacturing Department Application for 2025 Refrigerator Park Power Distribution Network 1326186.97 1326186.97 Capacity Expansion Renovation Project Manufacturing Department Application for Refrigerator Park 1323260.11 1323260.11 New Rain Shelter (Phase II) Project Drum Washing Machine Injection Rear Tub Bearing and Water Seal 1311504.42 1311504.42 Pressing Automatic Line Project Freezer Domestic and Overseas New Product Door Shell Equipment Line 1247787.61 1247787.61 Renewal Project Factory No.2 Application for Line D Door Foaming Crawler 10-station and 1243407.08 1243407.08 Foaming Machine Renewal Project Mianyang Meiling 320 Mold Project 1201327.45 1201327.45 Lean Manufacturing Department Application for Industrial IoT 1175353.98 1175353.98 Platform Construction Project BD-102PEQNRA Project Equipment 1149026.541149026.54 Renewal and Renovation Project Factory No.1 Line Q Production Capacity Improvement Planning 1122494.37 1122494.37 Renovation Project In-house Parts Factory Equipment Technical Renovation and Renewal 1114955.75 1114955.75 Project Meiling Procurement Digital Carbon 1106132.081106132.08 Management Platform Project Washing Machine Division Park Infrastructure Hardening and Forklift 1054032.07 1054032.07 Charging Area Expansion Project Washing Machine Performance 1053982.30 1053982.30 30 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Ending balance Beginning balance Prov Prov ision ision Items Carrying for Carrying for Carrying value Carrying value balance impa balance impa irme irme nt nt Laboratory Phase IV Project Liquid Nitrogen Tank Production 446882.87446882.8723349.0623349.06 Line Construction Project Large Refrigerator Back Multi-Gun 398913.66398913.661446902.651446902.65 Injection Equipment Renewal Project Washing Machine Division 2024 Manufacturing Company Production 8092928.458092928.45 Capacity and Supply Guarantee Investment Project Plastic Blowing Machine Project 3590796.45 3590796.45 7kg Supporting Production 3535542.993535542.99 Equipment Fixed Assets Project Air Conditioning Company J05 Heat Exchanger Factory Site Renovation – 3447901.14 3447901.14 Steel Platform Project Door Shell Capacity Equipment 1947251.991947251.99 Renewal Project Floor Standing Air Conditioner Heat Exchanger Technology Platform 1686232.80 1686232.80 Switching Investment Project Meiling Export Dryer New Product Supporting Inner Tub Production 1441592.92 1441592.92 Equipment Investment Project New Flat Color Steel Plate Door 397699.12397699.12 Shell Line Project Other Miscellaneous Projects 30586290.49 30586290.49 17545375.21 17545375.21 Total 127282346.90 127282346.90 97807983.40 97807983.40 2) Changes in Material Construction in Progress Projects During the Period Budgeted Beginning Increase for the Transfer to Other Ending Project name amount balance period fixed assets decreases balance Hefei 88000000.00 27527110.50 23788286.94 42317481.58 5043499.15 3954416.71 Manufacturing 30 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Budgeted Beginning Increase for the Transfer to Other Ending Project name amount balance period fixed assets decreases balance Base Refrigerator Front-end Production Capacity Improvement Project (Continued) Total project Total Capitalized Capitalization investment as Project progress capitalized interest rate of interest Source of Project name percentage of (%) interest amount during during the funds budget (%) amount the period period (%) Hefei Manufacturing Base Refrigerator Front-end 80.05 92.76 Self-raised Production Capacity Improvement Project 17. Right-of-Use Assets Items Buildings Total Original carrying value Beginning balance 132214806.53 132214806.53 Increase for the period 48242918.99 48242918.99 (1) New leases 48242918.99 48242918.99 Decrease for the period 2177523.19 2177523.19 (1) Lease expiration and contract 1946325.581946325.58 modification (2) Effect of foreign currency translation 231197.61 231197.61 Ending balance 178280202.33 178280202.33 Accumulated depreciation Beginning balance 18430615.75 18430615.75 Increase for the period 28999347.90 28999347.90 30 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Items Buildings Total (1) Depreciation provided 28670116.87 28670116.87 (2) Effect of foreign currency translation 329231.03 329231.03 Decrease for the period 2071331.09 2071331.09 (1) Lease expiration and contract 1922336.891922336.89 modification (2) Effect of foreign currency translation 148994.20 148994.20 Ending balance 45358632.56 45358632.56 Carrying value Carrying amount at end of period 132921569.77 132921569.77 Carrying amount at beginning of 113784190.78113784190.78 period The Company provides depreciation for right-of-use assets from the commencement date of the lease term. The depreciation amount is included in the cost of relevant assets or current profit or loss based on the use of the right-of-use assets. 18. Intangible Assets (1) Details Non-patented Patented Items Land use rights Trademarks Others Total technologies technologies Original carrying value Beginning 926964151.60283292439.34838399894.77310434004.4811769444.202370859934.39 balance Increase for the 61369491.9298044783.1357998817.223442917.48220856009.75 period 1) Purchase 61369491.92 3442917.48 64812409.40 2) Internal research and 98044783.13 57998817.22 156043600.35 development Decrease for the 11572776.34379622.6411952398.98 period 1) Disposal 11572776.34 379622.64 11952398.98 31 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Non-patented Patented Items Land use rights Trademarks Others Total technologies technologies Ending balance 988333643.52 283292439.34 924871901.56 368432821.70 14832739.04 2579763545.16 Accumulated amortization Beginning balance 271524126.38 283292439.34 625782954.06 115102831.62 5607264.60 1301309616.00 Increase for the 20277514.2096363430.0850976522.281355043.11168972509.67 period 1) Provision 20277514.2096363430.0850976522.281355043.11168972509.67 made Decrease for the 11572776.34379622.6411952398.98 period 1) Disposal 11572776.34 379622.64 11952398.98 Ending balance 291801640.58 283292439.34 710573607.80 166079353.90 6582685.07 1458329726.69 Provision for impairment Beginning 49048935.2321946682.504124734.6175120352.34 balance Increase for the 7928817.136891517.9914820335.12 period 1) Provision 7928817.136891517.9914820335.12 made Decrease for the period Ending balance 56977752.36 28838200.49 4124734.61 89940687.46 Carrying value Carrying amount 696532002.94157320541.40173515267.314125319.361031493131.01 at end of period Carrying amount 655440025.22163568005.48173384490.362037444.99994429966.05 at beginning of period The proportion of intangible assets generated from internal research and development of the Company to the balance of intangible assets at the end of the period was 6.05%. (2) Impairment Test of Intangible Assets 31 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Impairment provision Items Carrying value Recoverable amount made in the period Non-patented technologies 8196663.87 1359495.59 6837168.28 Non-patented technologies 1592288.09 500639.24 1091648.85 Patented technologies 6993905.25 102387.26 6891517.99 Subtotal 16782857.21 1962522.09 14820335.12 (Continued) Key parameters and Key parameters and Forecast Items determination basis for determination basis for the period the forecast period stable period Sales volume revenue and costs; determined Sales volume revenue and based on costs; determined based on Non-patented technologies 3 comprehensive comprehensive analysis of the analysis of the Company’s budget and Company’s budget and development plan development plan Sales volume revenue and costs; determined Sales volume revenue and based on costs; determined based on Non-patented technologies 5 comprehensive comprehensive analysis of the analysis of the Company’s budget and Company’s budget and development plan development plan Sales volume revenue and costs; determined Sales volume revenue and based on costs; determined based on Patented technologies 5 comprehensive comprehensive analysis of the analysis of the Company’s budget and Company’s budget and development plan development plan Subtotal 19. Development Expenditures Ending balance Beginning balance Items Provision Provision Carrying Carrying for Carrying value for Carrying value balance balance impairment impairment 31 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Ending balance Beginning balance Items Provision Provision Carrying Carrying for Carrying value for Carrying value balance balance impairment impairment Air conditioning 101913608.16101913608.1635786399.8535786399.85 technology development Refrigerator and washing machine technology 56318184.77 56318184.77 38924294.89 38924294.89 development Total 158231792.93 158231792.93 74710694.74 74710694.74 20. Goodwill (1) Original Carrying Value of Goodwill Generated Decrease for the period from Name of investee Beginning business or item generating Ending balance balance combinati goodwill Disposal Others ons during the period Hefei Meiling Group Holdings 3553367.77 3553367.77 Limited Total 3553367.77 3553367.77 (2) Provision for Goodwill Impairment Decrease for the Increase for the period period Name of investee or Beginning Ending item generating Generated balance goodwill from balance Provision Disposal Others business combinations Hefei Meiling Group 3553367.773553367.77 Holdings Limited Total 3553367.77 3553367.77 21. Long-term Deferred Expenses 31 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amortization Beginning Increase for the Other Items during the Ending balance balance period decreases period Major repairs of fixed 30772234.5112986028.0118214197.35433413.9625110651.21 assets Decoration expenses for 2564537.7262584.911310402.031316720.60 leased factory buildings Total 33336772.23 13048612.92 19524599.38 433413.96 26427371.81 22. Deferred Tax Assets and Deferred Tax Liabilities (1) Deferred Tax Assets before Offset Ending balance Beginning balance Items Deductible Deductible Deferred tax temporary temporary Deferred tax assets assets differences differences Deductible 93502626.6814025394.00360864560.7554129684.11 losses Provision for asset 341581651.12 51681423.52 338637346.07 51171867.09 impairment Lease 143543312.4121710453.52121116910.5918556500.32 liabilities Changes in fair 29764667.954464700.19156334600.7923450190.12 value Deferred 97796982.4114669547.3777980146.4611697021.96 income Estimated 51041265.608135319.9644310978.006994965.59 liabilities Termination 10983002.421647450.3612394842.891859226.44 benefits Accrued 7497503.911587503.156624971.581387454.96 expenses Accelerated depreciation 68937395.71 10340609.34 51380204.58 7707030.68 and amortization of 31 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Ending balance Beginning balance Items Deductible Deductible Deferred tax temporary temporary Deferred tax assets assets differences differences intangible assets Accelerated depreciation of 29181.23 7295.31 fixed assets Total 844677589.44 128269696.72 1169644561.71 176953941.27 (2) Deferred Tax Liabilities before Offset Ending balance Beginning balance Items Taxable temporary Deferred tax Taxable temporary Deferred tax differences liabilities differences liabilities Changes in fair 136597278.0320489591.71143241777.4421486266.61 value Right-of-use 132247656.6720004355.88112973204.2317323066.27 assets Fixed assets eligible for one- 27403603.794110540.5535081399.765263260.42 off pre-tax deduction Total 296248538.49 44604488.14 291296381.43 44072593.30 (3) Details of Unrecognized Deferred Tax Assets Items Ending balance Beginning balance Deductible temporary 194372164.05175445032.54 differences Deductible losses 370642657.51 173934398.18 Total 565014821.56 349379430.72 (4) Details of Unrecognized Deferred Tax Assets Year Ending Balance Opening Balance Notes 31 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Year Ending Balance Opening Balance Notes 2025年7639105.05 2026年26467201.2836800263.32 2027年10218730.8119361378.07 2028年21566032.7221566032.72 2029年13093023.2519009711.81 2030年263177745.285356589.48 2031年13541849.0815729356.65 2032年3059459.168411225.38 2033年11280112.9022111293.20 2034年6076416.8017949442.50 2035年2162086.23 Total 370642657.51 173934398.18 23. Other Non-current Assets Ending balance Beginning balance Items Provision Provision Carrying Carrying for Carrying value for Carrying value balance balance impairment impairment Prepaid construction 276000.00 276000.00 funds Prepaid equipment 18616047.73 18616047.73 9704450.56 9704450.56 payments Retention money due after more 8270444.61 30000.00 8240444.61 9623211.67 530000.00 9093211.67 than one year Total 26886492.34 30000.00 26856492.34 19603662.23 530000.00 19073662.23 24. Assets with Restricted Ownership or Right to Use 31 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Carrying amount at Type of Carrying amount at Items the end of the restrictio Reason for restriction end of period period n Cash and cash Deposits; frozen due to 416234428.12 416234428.12 Frozen equivalents litigation Accounts Pledged for the issuance of receivable 10284209.60 10284209.60 Pledged bank acceptances financing Total 426518637.72 426518637.72 (Continued) Carrying balance Type of Carrying amount at Items at the beginning of restrictio Reason for restriction beginning of period period n Cash and cash Deposits; frozen due to 510680650.07 510680650.07 Frozen equivalents litigation Accounts Pledged for the issuance of receivable 584233204.78 584233204.78 Pledged bank acceptances financing Total 1094913854.85 1094913854.85 25. Short-term Borrowings Items Ending balance Beginning balance Credit borrowings 810000000.00 750608522.12 Pledged borrowings 16000000.00 Accrued interest 99931.94 138763.89 Total 810099931.94 766747286.01 26. Derivative Financial Liabilities Items Ending balance Beginning balance Forward foreign exchange 38804849.55156359680.92 contracts Total 38804849.55 156359680.92 27. Notes Payable 31 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Items Ending balance Beginning balance Bank acceptances 5646391113.85 6418137195.82 Finance company 525846010.64870829729.52 acceptances Trade acceptances 832421432.10 645158510.31 Total 7004658556.59 7934125435.65 28. Accounts Payable (1) Details Items Ending balance Beginning balance Within 1 year 4831069605.70 6045137505.31 Over 1 years 103254536.06 86883083.10 Total 4934324141.76 6132020588.41 (2) Material accounts payable with aging over 1 year or overdue: None. 29. Advances Received Items Ending balance Beginning balance Advance rentals received 20340.81 11085.70 Total 20340.81 11085.70 30. Contract Liabilities (1) Details Items Ending balance Beginning balance Within 1 year 842366548.85 583600476.83 Over 1 years 29425792.31 26137394.41 Total 871792341.16 609737871.24 (2) Material contract liabilities with aging over 1 year: None. (3) Amount and reasons for significant changes in carrying value during the reporting period Items Change amount Reason for change 31 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Items Change amount Reason for change Increase in advances received from Purchase price 262054469.92 customers Subtotal 262054469.92 31. Employee Benefits Payable (1) Details Beginning Increase for the Decrease for the Items Ending balance balance period period Short-term employee 384437904.80 2007415488.00 377967784.98 2013885607.82 benefits Post- employment benefits - 1400515.59167249071.08677501.75 defined 167972084.92 contribution plans Termination 4114357.077862497.943479369.30 benefits 8497485.71 Total 389952777.46 2182527057.02 382124656.03 2190355178.45 (2) Details of short-term employee benefits Beginning Increase for the Decrease for the Items Ending balance balance period period Wages bonuses allowances and 374843225.41 1785939055.59 1791627857.50 369154423.50 subsidies Employee 893842.8755891333.1555734136.281051039.74 benefits Social insurance 1457416.6270380778.5070483465.541354729.58 premiums Including: Medical 1433762.81 63585847.42 63676315.54 1343294.69 insurance 31 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Beginning Increase for the Decrease for the Items Ending balance balance period period premiums Work-related injury insurance 23653.81 6794931.08 6807150.00 11434.89 premiums Housing 5552586.8987518600.9987411529.465659658.42 provident fund Union funds and employee 1690833.01 7685719.77 8628619.04 747933.74 education funds Subtotal 384437904.80 2007415488.00 2013885607.82 377967784.98 (3) Details of Defined Contribution Plans Beginning Increase for the Decrease for the Items Ending balance balance period period Basic endowment 714811.55 159943175.04 160105712.94 552273.65 insurance Unemployment insurance 685704.04 5191862.04 5863271.98 14294.10 premiums Enterprise 2114034.002003100.00110934.00 annuity Subtotal 1400515.59 167249071.08 167972084.92 677501.75 32. Taxes Payable Items Ending balance Beginning balance Enterprise income tax 24844863.64 37295721.67 Value-added tax (vat) 15566027.40 18736805.30 Individual income tax 4797953.08 10765426.61 Property tax 4563576.79 4547226.68 Stamp duty 4341842.65 5165439.65 32 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Items Ending balance Beginning balance Urban maintenance and 3529283.579332329.70 construction tax Education surcharge 2527524.02 6751533.75 Land use tax 1751869.79 1752087.81 Other local taxes and 1224779.321524968.81 surcharges Total 63147720.26 95871539.98 33. Other Payables (1) Details Items Ending balance Beginning balance Dividends payable 7492505.08 6005989.72 Other payables 1147202585.58 1025433422.81 Total 1154695090.66 1031439412.53 (2) Dividends payable Dividends payable classified by payee name Items Ending balance Beginning balance China Life Insurance (Group) Company 43992.07 43992.07 The People’s Insurance Company (Group) 65987.5765987.57 of China Limited Bank of Communications - Fuguo Tianyi 153697.50153697.50 Value Securities Investment Fund Hefei Branch of Bank of China 833894.30 631013.60 Hefei Collective Industrial Association 833892.97 631012.60 Wuhu Office of Provincial Trust and 667115.46504810.90 Investment Corporation Other miscellaneous entities 4893925.21 3975475.48 Total 7492505.08 6005989.72 (3) Other Payables Classified by Nature of Funds 32 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Items Ending balance Beginning balance Accrued expenses 544978719.66 503726134.42 Temporary receipts and withheld amounts 10168937.36 6356898.80 Deposits and margins 192446034.92 170587261.56 Related party balances 372996153.41 312082468.47 Others 26612740.23 32680659.56 Total 1147202585.58 1025433422.81 34. Non-current Liabilities Due within One Year Items Ending balance Beginning balance Principal and interest of long-term 20007.789844660.00 borrowings due within one year Principal and interest of lease liabilities 29140800.7219290504.68 due within one year Product quality guarantees due within one 16844394.33 year Total 46005202.83 29135164.68 35. Other Current Liabilities Items Ending balance Beginning balance Unamortized output tax 48960484.35 18610598.53 Payable factoring fees 5041493.32 5213790.97 Total 54001977.67 23824389.50 36. Long-term Borrowings Items Ending balance Beginning balance Credit borrowings 111115811.06 Accrued interest 62856.19 Total 111178667.25 37. Lease Liabilities Items Ending balance Beginning balance 32 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Items Ending balance Beginning balance Lease payments 129418008.45 119266218.75 Less: Unrecognized financing expenses 15015496.76 17439812.84 Total 114402511.69 101826405.91 38. Long-term Payables (1) Details Items Ending balance Beginning balance Special payables 117944.72 455409.20 Total 117944.72 455409.20 (2) Special payables Beginning Increase for Decrease for the Items Ending balance balance the period period Zhongshan special fund 455409.20337464.48117944.72 for technical renovation Subtotal 455409.20 337464.48 117944.72 39. Long-term Employee Benefits Payable Items Ending balance Beginning balance Termination benefits 9021087.36 10195289.45 Total 9021087.36 10195289.45 40. Estimated Liabilities Items Ending balance Beginning balance Product quality guarantees [Note] 31585507.67 41657177.57 Pending litigation 1878439.99 3373239.65 Total 33463947.66 45030417.22 [Note] Provision for product quality guarantees is accrued for three-guarantee 32 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) maintenance fees in accordance with the national three-guarantee policy. 41. Deferred Income Beginning Increase for the Decrease for Reason for Items Ending balance balance period the period recognition Project developm Government 97151856.8442377913.2726021581.00113508189.11 ent grants subsidies Relocatio n Government 28283321.062734802.4125548518.65 allowance grants s Total 125435177.90 42377913.27 28756383.41 139056707.76 42. Share Capital Changes during the period (decreases are indicated by “-”) Capital Items Beginning balance Shar Ending balance reserve Issuance of e Subt conversion Others new shares divid otal to share ends capital Total 1029923715.001029923715.00 shares 43. Capital Reserves (1) Details Increase for Decrease for the Items Beginning balance Ending balance the period period Capital premium 2702427123.99 691917.31 2701735206.68 Other capital 48043091.4048043091.40 reserves 32 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Increase for Decrease for the Items Beginning balance Ending balance the period period Total 2750470215.39 691917.31 2749778298.08 (2) Other notes The change in capital reserves during the period was mainly due to the Company’s acquisition of minority equity interests in subsidiaries. 44. Treasury Stock (1) Details Beginning Increase for Decrease for Ending Items balance the period the period balance Share repurchase 86960746.82 86960746.82 Total 86960746.82 86960746.82 (2) Other notes The change in treasury stock during the period was mainly due to the Company’s share repurchase. 45. Other Comprehensive Income Amounts incurred during the period Net of tax of other comprehensive income Less: Amounts previously Less: included in Amounts other previously comprehens included ive income Beginning in other and Items Amounts Less: Ending balance balance comprehe Attributable to Attributable transferred incurred before Incom nsive the parent to minority to retained income tax in e tax income company after shareholders earnings in the current expen and tax after tax the current period ses transferred period to profit or (attributabl loss in the e to the current parent period company net of tax) 32 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amounts incurred during the period Net of tax of other comprehensive income Less: Amounts previously Less: included in Amounts other previously comprehens included ive income Beginning in other and Items Amounts Less: Ending balance balance comprehe Attributable to Attributable transferred incurred before Incom nsive the parent to minority to retained income tax in e tax income company after shareholders earnings in the current expen and tax after tax the current period ses transferred period to profit or (attributabl loss in the e to the current parent period company net of tax) Other comprehens ive income to be -21222419.68 -2641411.05 -2557629.61 -83781.44 -23780049.29 reclassified into profit or loss Including: Foreign currency financial -21222419.68 -2641411.05 -2557629.61 -83781.44 -23780049.29 statement translation difference Total other comprehens -21222419.68 -2641411.05 -2557629.61 -83781.44 -23780049.29 ive income 46. Special Reserve (1) Details Beginning Increase for the Decrease for the Items Ending balance balance period period Production safety 20968173.5938803124.5321380015.9838391282.14 fees 32 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Beginning Increase for the Decrease for the Items Ending balance balance period period Total 20968173.59 38803124.53 21380015.98 38391282.14 (2) Other notes The change during the period was due to the accrual of production safety fees in accordance with the Notice on Issuing the Measures for the Administration of the Extraction and Use of Enterprise Production Safety Fees (C.Z. [2022] No. 136) issued by the Ministry of Finance on November 21 2022. 47. Surplus Reserves (1) Details Increase for the Decrease for Items Beginning balance Ending balance period the period Statutory surplus 386846368.8648908980.44435755349.30 reserves Discretionary surplus 115607702.16115607702.16 reserves Total 502454071.02 48908980.44 551363051.46 (2) Other notes The increase during the period was due to the accrual of statutory surplus reserves at 10% of the parent company’s net profit. 48. Undistributed Profits 32 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Corresponding prior Items Current period amount period amount Undistributed profits at the end of the previous period 1521759836.64 before adjustment 1803207185.06 Total adjustment to undistributed profits at the beginning -83444712.70 of the period (“+” for increase “?” for decrease) Undistributed profits at the beginning of the period after 1438315123.94 adjustment 1803207185.06 Add: Net profit attributable to owners of the parent 699270051.82 company for the period 410409936.09 Less: Appropriation of statutory surplus reserves 25400876.20 48908980.44 Appropriation of general risk reserves Dividends payable to ordinary shareholders 308977114.50 339874825.94 Undistributed profits at the end of the period 1803207185.06 1824833314.77 (II) Notes to Items in the Consolidated Income Statement 1. Operating Revenue / Operating Costs (1) Details Current period amount Corresponding prior period amount Items Revenue Costs Revenue Costs Revenue from principal 28335360230.42 25262724426.57 30132656540.5027049833815.15 operations Revenue from 265675784.54148550776.70 other operations 275269977.20 164778318.95 Total 28601036014.96 25411275203.27 30407926517.7027214612134.10 (2) Breakdown of Operating Revenue and Operating Costs Current period amount Corresponding prior period amount Items Revenue Costs Revenue Costs By product type: 32 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Current period amount Corresponding prior period amount Items Revenue Costs Revenue Costs By product type: Including: Air 15407055870.2114334050593.14 conditioners 17381279817.25 16177492952.84 Refrigerator 9560071716.638085319070.60 s (freezers) 8945930733.45 7618717577.62 Washing 1746832584.101444516804.89 machines 2206689678.04 1853446099.78 Kitchen and bathroom products and small 1491831582.42 1304824476.33 1444314413.781275737755.77 household appliances Other 129568477.0694013481.61 products 154441897.98 124439429.14 Other 265675784.54148550776.70 operations 275269977.20 164778318.95 By operating region: Including: 18352947530.7916206086697.44 Domestic 19067190222.93 17122994456.09 Overseas 10248088484.17 9205188505.83 11340736294.7710091617678.01 Subtotal 28601036014.96 25411275203.27 30407926517.7027214612134.10 (3) Transaction Price Allocated to Remaining Performance Obligations As of December 31 2025 the transaction price corresponding to performance obligations under signed contracts that had not been fulfilled or had not been fully fulfilled by the Company amounted to RMB 41502727.61 of which RMB 41422137.57 was expected to be recognized as revenue in the year 2026. 2. Taxes and Surcharges Corresponding prior Items Current period amount period amount 32 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Corresponding prior Items Current period amount period amount Stamp duty 26132327.48 24703855.76 Property tax 25519290.00 25461294.25 Urban maintenance and construction 23832683.3725914199.06 tax Education surcharge 18206992.37 19726338.56 Land use tax 9435000.13 9127558.32 Water conservancy fund 8228784.09 7737529.88 Other taxes and surcharges 37527.50 72125.15 Total 111392604.94 112742900.98 3. Selling Expenses Corresponding prior Items Current period amount period amount Wages surcharges and labor services 598418499.68 576155784.54 Marketing support expenses 443949342.87 351459135.82 Transportation expenses 174891873.98 185363073.10 Warehousing and rental expenses 142239691.86 129398876.12 Insurance expenses 58809783.16 49096523.31 Travel expenses 37522531.18 27486626.86 Inspection and certification fees 17787797.66 16060283.22 Business activities expenses 16138000.04 15368031.16 Vehicle expenses 13876347.19 14708517.19 Depreciation expenses 12340569.82 8789029.44 Service support expenses 4647859.16 7844732.52 Others 88248311.4995423430.10 33 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Corresponding prior Items Current period amount period amount Total 1608870608.09 1477154043.38 4. Administrative Expenses Corresponding prior Items Current period amount period amount Wages social insurance etc. 258446701.11 198437769.99 Depreciation and amortization 48825293.13 45919238.84 Software usage fees 18675132.32 22466676.77 Service support expenses 14295670.59 8312503.04 Water and electricity expenses 9628952.93 9289865.46 Disabled persons’ employment security 8809788.888447278.23 fund Property insurance expenses 6113763.17 7188254.55 Domestic travel expenses 4043040.27 4070311.00 Engineering maintenance expenses 3529229.65 5994580.74 Others 36737896.62 49546061.58 Total 409105468.67 359672540.20 5. Research and Development Expenses Corresponding prior Items Current period amount period amount Wages social insurance etc. 308908262.46 268361918.57 Depreciation and amortization 254512017.32 196665452.62 Research and development trial production and technical development 93685552.75 90943254.33 expenses Inspection and certification fees 21644682.38 18549348.84 33 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Corresponding prior Items Current period amount period amount Others 49221437.42 62722259.47 Total 727971952.33 637242233.83 6. Financial Expenses Corresponding prior Items Current period amount period amount Interest expenses 34329146.73 24540000.01 Including: Amortization of 5514703.033480179.14 unrecognized financing expenses Less: Interest income 129148403.43 182415110.59 Add: Exchange loss 96670876.60 670047.10 Discount expenses -20918698.27 -27355384.73 Bank service charges 16689658.17 16017052.87 Total -2377420.20 -168543395.34 7. Other Income Amount included Corresponding Current period in non-recurring Items prior period amount gains and losses amount for the period Government grants related to 29093847.8931233755.0729093847.89 assets Government grants related to 65424724.8072019415.6556513995.62 income Including: VAT refund upon 8910729.188340088.82 collection Handling fee refund for 977431.44767204.01 withholding individual income tax 33 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amount included Corresponding Current period in non-recurring Items prior period amount gains and losses amount for the period Additional VAT deduction 51116254.82 92050712.81 Debt restructuring income 95400.74 95400.74 Total 146707659.69 196071087.54 85703244.25 8. Investment Income Current period Corresponding prior Items amount period amount Income from long-term equity investments 7312450.479165103.88 accounted for under the equity method Investment income from disposal of long-term 38829.19 equity investments Investment income from other non-current 15690242.5214911850.55 financial assets held during the period Investment income from disposal of tradable 58411847.1135122865.42 financial assets Investment income from disposal of derivative -51358145.27-17541274.69 financial assets Interest income from debt investments held 53180915.3732712969.75 during the period Gains on derecognition of financial assets -26124205.65-38661658.21 measured at amortized cost Total 57151933.74 35709856.70 9. Income from Fair Value Changes Current period Corresponding prior Items amount period amount Derivative financial assets -10168289.72 32773626.80 33 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Current period Corresponding prior Items amount period amount Including: Income from fair value changes -10168289.7232773626.80 arising from derivative financial instruments Derivative financial liabilities 117554831.37 -124130668.06 Including: Income from fair value changes 117554831.37-124130668.06 arising from derivative financial instruments Other non-current financial assets measured at 3281963.624172388.96 fair value Including: Amount of fair value changes of non- trading equity instruments recognized in profit 3281963.62 4172388.96 or loss for the current period Total 110668505.27 -87184652.30 10. Credit Impairment Losses Current period Corresponding Items amount prior period amount Bad debt losses on accounts receivable 8375268.67 14993351.76 Bad debt losses on other receivables -483280.58 -91570.95 Total 7891988.09 14901780.81 11. Asset Impairment Losses Current period Corresponding prior Items amount period amount Inventory impairment losses -92626962.48 -96363207.80 Intangible asset impairment losses -14820335.12 -15750561.72 Fixed asset impairment losses -2656187.11 Contract asset impairment losses 928.17 94761.06 Long-term equity investment impairment losses -3097405.00 Development expenditure impairment losses -1530365.17 33 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Current period Corresponding prior Items amount period amount Other non-current asset impairment losses 63720.00 Total -110102556.54 -116583058.63 12. Gains on Disposal of Assets Corresponding Current period Items prior period amount amount Gains on disposal of non-current assets 107824.82 160661.55 Including: Gains on disposal of non-current assets not 107824.82160661.55 classified as held for sale Gains on disposal of right-of-use assets 427769.09 Gains on disposal of fixed assets 107824.82 -267107.54 Total 107824.82 160661.55 13. Non-operating Income Amount included Corresponding Current period in non-recurring Items prior period amount gains and losses amount for the period Liquidated damages income 3266509.43 2820099.56 3266509.43 Others 6812438.39 8118363.30 6812438.39 Total 10078947.82 10938462.86 10078947.82 14. Non-operating Expenses Amount included Corresponding Current period in non-recurring Items prior period amount gains and losses amount for the period 33 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amount included Corresponding Current period in non-recurring Items prior period amount gains and losses amount for the period Losses on disposal of non- 8467933.584336902.788467933.58 current assets Donation expenses 465000.00 934781.74 465000.00 Others 4505869.78 6657178.71 4505869.78 Total 13438803.36 11928863.23 13438803.36 15. Income Tax Expenses (1) Details of Changes Corresponding Current period Items prior period amount amount Current income tax expenses 68362509.45 81540342.99 Deferred income tax expenses 49216139.39 7369918.08 Total 117578648.84 88910261.07 (2) Reconciliation of Accounting Profit to Income Tax Expense Current Period Item Amount Total Profit 547416669.30 Income Tax at Parent Company’s Applicable Tax Rate 82112500.40 Effect of Different Tax Rates Applicable to Subsidiaries -20459794.88 Effect of Adjustments to Income Tax of Prior Periods 6335565.20 Effect of Non-taxable Income 236452.51 Effect of Non-deductible Costs Expenses and Losses 18283956.06 Effect of Utilization of Deductible Losses for Which -6613560.47 Deferred Tax Assets Were Not Recognized in Prior Periods Effect of Deductible Temporary Differences or Deductible Losses for Which Deferred Tax Assets Are Not Recognized in 80605524.33 the Current Period Additional Deduction for Research and Development (R&D) -42921994.32 Expenses 33 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Current Period Item Amount Income Tax Expense 117578648.84 16. Other Comprehensive Income For other comprehensive income please refer to Note V(I)45 to the financial statements.(III) Notes to Items in the Consolidated Cash Flow Statement 1. Cash Relating to Operating Activities (1) Other Cash Received Relating to Operating Activities Current period Corresponding prior Items amount period amount 98208549.5886323429.01 Government grants and incentives Deposits and margins 53167956.55 21680522.40 Others 21621359.06 25491569.43 Total 172997865.19 133495520.84 (2) Other Cash Paid Relating to Operating Activities Current period Corresponding prior Items amount period amount Cash paid for operating expenses 1058243459.12 1087578839.60 Imprests deposits and margins 75691928.29 46413594.48 1133935387.41 Total 1133992434.08 2. Cash Relating to Investing Activities (1) Material Cash Received Relating to Investing Activities Current period Corresponding prior Items amount period amount 33 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Current period Corresponding prior Items amount period amount 29717000000.0013070000000.00 Structured deposits Total 29717000000.00 13070000000.00 (2) Material Cash Paid Relating to Investing Activities Current period Corresponding prior Items amount period amount Structured deposits 29717000000.00 13070000000.00 29717000000.0013070000000.00 Total (3) Other Cash Received Relating to Investing Activities Current period Corresponding prior Items amount period amount Interest income on bank deposits 133996233.61 177500877.49 Deposits 12517343.72 1706624.53 Interest on previous holders of large-sum certificates of 11292493.16 deposit Gains on forward foreign exchange settlement 62144.95 65593.68 Funds pooling 17129427.73 Total 157868215.44 196402523.43 (4) Other Cash Paid Relating to Investing Activities Current period Corresponding prior Items amount period amount Losses on forward foreign exchange settlement 108793579.82 21299366.89 Interest on previous holders of large-sum certificates of deposit 12577379.19 Deposits 14956430.26 Total 136327389.27 21299366.89 3. Cash Relating to Financing Activities 33 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (1) Other Cash Received Relating to Financing Activities Current period Corresponding prior Items amount period amount Restored restricted funds 152039057.57 16831731.38 Funds from bill discounting 282505193.32 229647515.53 Total 434544250.89 246479246.91 (2) Other Cash Paid Relating to Financing Activities Current period Corresponding prior Items amount period amount Funds from bill discounting 241781509.92 14470087.35 86960746.82 Share repurchase payments Funds transferred to restricted use 63196510.62 86968683.53 Principal and interest of lease liabilities 28707088.97 8361366.02 Accounts receivable factoring financing fees 18608454.87 250000.00 Dividend payment handling fees 150305.59 230889.27 439404616.79 Total 110281026.17 4. Supplementary Information to the Cash Flow Statement Corresponding prior period Supplementary Information Current period amount amount (1) Reconciliation of Net Profit to Cash Flows from Operating Activities Net profit 429838020.46724667502.87 Add: Provision for asset impairment 110102556.54116583058.63 Provision for credit impairment -7891988.09-14901780.81 Depreciation of fixed assets right-of-use assets investment properties depletion of oil and gas assets and depreciation 282742936.55264209453.01 of productive biological assets Amortization of intangible assets 168972509.67150120886.39 Amortization of long-term deferred expenses 19524599.3816158992.30 33 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Corresponding prior period Supplementary Information Current period amount amount Losses on disposal of fixed assets intangible assets and other long-term assets (gains are shown with “?”) -107824.82 -160661.55 Losses on write-off of fixed assets (gains are shown with “?”)8337363.214103076.53 Losses on fair value changes (gains are shown with “?”) -110668505.2787184652.30 Financial expenses (income is shown with “?”) 1851619.90-157205062.67 Investment losses (gains are shown with “?”) -57151933.74-35709856.70 Decrease in deferred tax assets (increase is shown with “?”)48684244.55-17115276.70 Increase in deferred tax liabilities (decrease is shown with “?”)531894.8424485194.78 Decrease in inventories (increase is shown with “?”) 1342332312.72-1588581308.69 Decrease in operating receivables (increase is shown with “?”)642700150.32186215213.84 Increase in operating payables (decrease is shown with “?”) -2019707449.514210203134.43 Others Net cash flows generated from operating activities 860090506.713970257217.96 (2) Material Investing and Financing Activities Not Involving Cash Receipts and Payments: Conversion of debt into capital Convertible corporate bonds due within one year Additions of right-of-use assets (3) Net Changes in Cash and Cash Equivalents: Ending balance of cash 9759861189.089976098734.11 Less: Beginning balance of cash 9976098734.118391177936.62 Add: Ending balance of cash equivalents Less: Beginning balance of cash equivalents Net increase in cash and cash equivalents -216237545.031584920797.49 5. Composition of Cash and Cash Equivalents (1) Details 34 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Items Ending balance Beginning balance 1) Cash 9759861189.08 9976098734.11 Including: Cash on hand 9657.12 19623.13 Cash in banks available for payment at any time 9730415989.13 9974662103.93 Other monetary funds available for payment at any time 29435542.83 1417007.05 2) Cash equivalents Including: Bond investments due within three months 3) Ending balance of cash and cash equivalents 9759861189.08 9976098734.11 (2) Cash and Cash Equivalents Not Included in Cash and Cash Equivalents Reasons for exclusion Items Ending balance Beginning balance from cash and cash equivalents Deposits for letters of guarantee 409234428.12 504942490.94 Restricted in use acceptances and platform deposits Funds judicially frozen due to 7000000.00 5738159.13 Restricted in use contract disputes Accrued interest 10566252.74 5671366.43 Accrual of interest Subtotal 426800680.86 516352016.50 6. Changes in Liabilities Related to Financing Activities Increase for the period Decrease for the period Items Beginning balance Ending balance Non-cash Changes in cash Non-cash changes Changes in cash changes Short-term 766747286.013191143747.0117337523.053165128624.13810099931.94 borrowings Long-term borrowings (including long-term 9844660.00 111155811.06 904346.30 10706142.33 111198675.03 borrowings due within one year) Lease liabilities 121116910.59 52655060.82 25708355.88 4520303.12 143543312.41 (including 34 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Increase for the period Decrease for the period Items Beginning balance Ending balance Non-cash Changes in cash Non-cash changes Changes in cash changes lease liabilities due within one year) Dividends 6005989.72343288422.98341801907.627492505.08 payable Subtotal 903714846.32 3302299558.07 414185353.15 3543345029.96 4520303.12 1072334424.46 7. Cash Flows Presented on a Net Basis Basis for presentation Financial Items Relevant facts and circumstances on a net basis impact The Company presents gains or losses on Forward foreign foreign exchange contract settlement on a The information exchange legal entity basis in other cash received presented is more None relating to investing activities and other intuitive settlement cash paid relating to investing activities The Company presents annual changes in restricted funds on a legal entity basis in Reflected on a rolling Restricted funds other cash received relating to financing None basis activities and other cash paid relating to financing activities The Company presents annual changes in undiscounted internal bills of the Meiling Group on a legal entity basis reclassifying from cash received from sale of goods and Funds from bill Reflected on a rolling rendering of services / cash paid for None discounting basis purchase of goods and receipt of services to other cash received relating to financing activities / other cash paid relating to financing activities 8. Material activities not involving current cash receipts and payments but affecting the financial position or future cash flows of the Company and their financial impact: None.(IV) Others 34 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) 1. Foreign Currency Monetary Items (1) Details Translation Ending foreign Ending RMB balance Items exchange currency balance after translation rate Cash and cash equivalents 842531383.25 Including: US Dollar 98435683.07 7.028800 691884729.16 Euro 10670626.66 8.235500 87877945.86 Australian Dollar 3018986.48 4.689200 14156631.40 Pakistani Rupee 1185285327.09 0.025100 29750661.71 Indonesian Rupiah 42582917736.82 0.000417 17757076.70 Hong Kong Dollar 0.02 0.903220 0.02 Philippine Peso 9241325.52 0.119500 1104338.40 Accounts receivable 1575895104.19 Including: US Dollar 174550159.71 7.028800 1226878162.57 Euro 9216734.19 8.235500 75904414.42 Australian Dollar 27961139.00 4.689200 131115373.00 Pakistani Rupee 382372226.69 0.025100 9597542.89 Indonesian Rupiah 235601963020.04 0.000417 98246018.58 Korean Won 2038228346.00 0.004860 9905789.76 Philippine Peso 202910485.08 0.119500 24247802.97 Other receivables 475464.81 Including: US Dollar 1532.71 7.028800 10773.11 Pakistani Rupee 4269326.29 0.025100 107160.09 Indonesian Rupiah 392151774.58 0.000417 163527.29 Philippine Peso 1623467.11 0.119500 194004.32 Accounts payable 81781209.05 34 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Translation Ending foreign Ending RMB balance Items exchange currency balance after translation rate Including: Pakistani Rupee 734350831.47 0.025100 18432205.87 Indonesian Rupiah 111180394844.12 0.000417 46362224.65 Philippine Peso 142148774.32 0.119500 16986778.53 Other payables 14280504.54 Including: Pakistani Rupee 272538587.25 0.025100 6840718.54 Indonesian Rupiah 16681396834.53 0.000417 6956142.48 Philippine Peso 4047226.11 0.119500 483643.52 (2) Explanation of Overseas Operations Whether the Principal Reason Functional functional Name of overseas company place of for currency currency has business change changed CH Meiling International Philippines Philippine Peso No (Philippines)Inc.Changhong Ruba Trading Lahore Pakistani Rupee No Company (Private) Limited Pakistan CHANGHONGMEILINGEL Indonesian Indonesia No ECTRICINDONESIAPT Rupiah 2. Leases (1) The Company As a Lessee 1) For information relating to right-of-use assets please refer to Note V(I)17 to the financial statements. 2) Lease expenses recognized in current profit or loss are as follows: Current period Corresponding Items amount prior period amount 5514703.033480179.14 Interest expenses on lease liabilities 34 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) 8899819.70 Short-term lease expenses 8628125.51 For the accounting policies of the Company on short-term leases and leases of low-value assets please refer to Note 3(XXXIII) to the financial statements. 3) Total cash outflows relating to leases amounted to RMB44104236.96. 4) The maturity analysis of lease liabilities and the corresponding liquidity risk management are disclosed in detail in Note X(I) to the financial statements. (2) The Company as a Lessor 1) Operating leases Current period Corresponding Items amount prior period amount 45046888.9842904760.57 Lease income Fixed assets leased out under operating leases are disclosed in detail in Note V(I)15 to the financial statements. 2) Finance leases The Company has no finance leases as a lessor. 3) The Company does not recognize profit or loss on sales of finance leases as a manufacturer or dealer. 3. Supplier Financing Arrangements (1) Terms and Conditions of Supplier Financing Arrangements Type of supplier Terms and conditions financing arrangement Suppliers conduct bill financing with Yuanxin Financial Leasing Bill financing business Co. Ltd. based on the bills issued by the Company and discount the relevant bills to shorten the collection period. (2) Liabilities related to supplier financing arrangements 1) Carrying amount of related liabilities 34 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Items Ending balance Beginning balance Accounts payable 539876957.96 185567424.38 347852786.22 185567424.38 Including: Amounts received by suppliers Subtotal 539876957.96 185567424.38 2) Maturity periods of related liabilities Items Maturity periods at the end of the period Liabilities under financing arrangements 1 to 6 months after invoice issuance VI. Research and Development Expenses (I) R&D Expenses Corresponding Current period Items prior period amount amount Wages social insurance etc. 372243295.73 290438820.29 Mold costs 188058936.41 138699736.02 Amortization of intangible assets 146691882.05 128863813.35 R&D trial production costs 89745276.55 90611055.62 Technology development costs 50247561.23 70128627.53 Depreciation expenses 30652537.23 27268033.15 Inspection and certification fees 30595157.94 28187701.47 Domestic travel expenses 5055142.98 4367990.30 Other expenses 54246860.75 66098532.36 967536650.87844664310.09 Total 727971952.33637242233.83 Including: Expensed R&D expenses 239564698.54207422076.26 Capitalized R&D expenses (II) Development Expenditures 1. Changes in the Beginning and Ending Balances of Development Expenditures Items Beginning Increase for the period Decrease for the period Ending balance 34 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) balance Transferr ed to Internal Recognized as profit or Othe Other development rs intangible loss for s expenditures assets the current period Air condition ing technolog 35786399.85 179508868.45 113381660.14 101913608.16 y developm ent Refrigera tor and washing machine 38924294.8960055830.0942661940.2156318184.77 technolog y developm ent Total 74710694.74 239564698.54 156043600.35 158231792.93 VII. Changes in the Scope of Consolidation (I) Business Combinations Under Common Control No business combinations under common control occurred in the current period.(II) Changes in Consolidation Scope Due to Other Reasons 1. Increase in Consolidation Scope Name of Method of Capital Capital Time of Acquiring Company Acquiring Contribution Contribution Equity Equity (RMB 10000) Ratio (%) Mianyang Changhong Smart Newly March 21 2025 50000.00 99.00 Home Appliances established Co. Ltd. 2. Decrease in Consolidation Scope From Name of Method of Net Assets as Beginning of Timing of Equity Company Equity at Disposal Period to Disposal Disposal Date Disposal Date Net profit 34 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) From Name of Method of Net Assets as Beginning of Timing of Equity Company Equity at Disposal Period to Disposal Disposal Date Disposal Date Net profit Hefei Meiling IoT Liquidation December 12 Technology Co. and 27265804.27 -5266582.51 2025 Ltd. deregistration VIII. Interests in Other Entities (I) Composition of the Group 1. The Company has included 25 subsidiaries including Zhongke Meiling Cryogenic Technology Co. Ltd. Sichuan Changhong Air Conditioner Co. Ltd. and Zhongshan Changhong Electric Co. Ltd. in the scope of the consolidated financial statements. 2. Basic Information of Subsidiaries Principal Shareholding Ratio Registered Place of (%) Method of Capital Business Nature of Name of Subsidiary Acquisitio (RMB and Business Direct Indirect n 10000) Registratio n Jiangxi Meiling Establishe Jingdezhen Electric Appliance d by City Manufactu Co. Ltd. (hereinafter 5000.00 98.75 1.25 capital Jiangxi re and referred to as sales contributioProvince “Jiangxi Meiling”) n Mianyang Meiling Establishe Refrigeration Co. Mianyang d by Ltd. (hereinafter City Manufactu 10000.00 95.00 5.00 capital referred to as Sichuan re andsales contributio“Mianyang ProvincenMeiling”) Zhongke Meiling Establishe Cryogenic Hefei City d by Technology Co. Manufactu 9673.09 Anhui 47.4512 capital Ltd. (hereinafter re and Province sales contributioreferred to as n “Zhongke Meiling”) Anhui Tuoxing Hefei City Technolog Establishe y research Technology Co. 1000.00 Anhui 47.4512 d by and Ltd. (hereinafter Province capital developme 34 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Principal Shareholding Ratio Registered Place of (%) Method of Capital Business Nature of Name of Subsidiary Acquisitio (RMB and Business Direct Indirect n 10000) Registratio nreferred to as “Anhui nt contributioTuoxing”) n Anhui Ling’an Establishe Lu’an Medical Equipment d by City Manufactu Co. Ltd. (hereinafter 5000.00 47.4512 capital Anhui re and referred to as Province sales contributio “Ling’an Medical”) n Sichuan Changhong Business Air Conditioner Co. Mianyang combinati Ltd. (hereinafter City Manufactu 85000.00 100.00 on under referred to as Sichuan re and common“Changhong Air Province salescontrolConditioner”) Hongyuan Ground Energy Heat Pump Establishe Mianyang Technology Co. d by City Manufactu Ltd. (hereinafter 5000.00 92.87 capital Sichuan re and referred to as sales contributioProvince“Hongyuan Ground nEnergy”) Hongyuan Ground Establishe Zhongshan Energy Heat Pump d by City Manufactu Technology 4500.00 92.87 capital Guangdon re and (Zhongshan) Co. sales contributiog Province Ltd. n Sichuan Changhong Intelligent Air Establishe Conditioner Mianyang d by Technology Co. City Manufactu 10000.00 100.00 capital Ltd. (hereinafter Sichuan re and sales contributioreferred to as Province n“Intelligent AirConditioner”) Zhongshan Business Zhongshan Changhong Electric Manufactu33400.00 City 90.00 10.00 combinati re and Co. Ltd. (hereinafter on under Guangdon sales referred to as common 34 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Principal Shareholding Ratio Registered Place of (%) Method of Capital Business Nature of Name of Subsidiary Acquisitio (RMB and Business Direct Indirect n 10000) Registratio n“Zhongshan g Province controlChanghong”) Establishe Changhong Ruba d by Trading Company 8308.98 Pakistan 60.00 capital Sales (Private)Limited contributio n Establishe Changhong Meiling d by Electric Indonesia 4027.20 Jakarta 100.00 capital Sales PT contributio n Establishe Guangzho Guangzhou d by u City Changhong Trading 100.00 100.00 capital Guangdon Sales Co. Ltd. contributio g Province n Changhong Meiling Business Ridian Technology Zhongshan combinati Co. Ltd. (hereinafter City Manufactu 8300.00 99.0361 on under referred to as Guangdon re and common“Ridian g Province salescontrolTechnology”) Hebei Hongmao Establishe Handan Household d by City Manufactu Appliance 500.00 99.0361 capital Hebei re and Technology Co. contributio Province sales Ltd. n Business Hefei Meiling Group combinati Holdings Limited Hefei City on not (hereinafter referred 8000.00 Anhui 100.00 Sales underto as “Meiling ProvincecommonGroup”) control Hefei Meiling 2428.68 Hefei City Manufactu 100.00 Business re and Nonferrous Metal Anhui combinati sales 35 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Principal Shareholding Ratio Registered Place of (%) Method of Capital Business Nature of Name of Subsidiary Acquisitio (RMB and Business Direct Indirect n 10000) Registratio n Products Co. Ltd. Province on not (hereinafter referred underto as “Nonferrous commonMetals”) control Business combinati Meiling Equator Hefei City Manufactu on not Home Appliance 2479.31 Anhui 100.00 re and under (Hefei) Co. Ltd. Province sales common control Business combinati Hefei City Hefei Equator Manufactu on not 1200.00 Anhui 100.00 Electric Co. Ltd. re and under Province sales common control Hefei Meiling IoT Establishe Technology Co. Hefei City d by Software Ltd. (hereinafter 1000.00 Anhui 100.00 capital developmereferred to as “IoT Province nt contributioTechnology”) n Establishe CH-Meiling d by International 688.91 Philippines 100.00 capital Sales (Philippines) Inc. contributio n Hefei Changhong Establishe Meiling Life Hefei City d by Appliances Co. Ltd. 5000.00 Anhui 70.00 capital (hereinafter referred Sales Province contributioto as “Meiling LifenAppliances”) Sichuan Hongmei Mianyang Establishe Intelligent City Software d by Technology Co. 500.00 100.00 Sichuan developme capital Ltd. (hereinafter Province nt contributio referred to as 35 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Principal Shareholding Ratio Registered Place of (%) Method of Capital Business Nature of Name of Subsidiary Acquisitio (RMB and Business Direct Indirect n 10000) Registratio n“Hongmei nIntelligent”) Hefei Changhong Business Industrial Co. Ltd. Hefei City combinati Manufactu (hereinafter referred 10000.00 Anhui 99.00 1.00 on under re andto as “Changhong Province sales commonIndustrial”) control Establishe Mianyang Mianyang Manufactu d by Changhong Smart City 50000.00 re and 99.00 1.00 capital Home Appliances Sichuan sales contributio Co. Ltd. Province n 3. Other Explanations (1) Basis for Controlling the Investee despite Holding Half or Less of the Voting Rights and Not Controlling the Investee despite Holding More Than Half of the Voting Rights The Company holds 47.4512% of the equity interests in Zhongke Meiling and is its largest shareholder. Except for Zhongke Xianxing (Beijing) Asset Management Co. Ltd.which holds 20.16% of the shares voting rights held by other shareholders are highly dispersed. The Company is able to dominate its business operation and decision-making through voting (II) Significant Non-Wholly Owned Subsidiaries 1. Details Dividends Profit or Loss Declared and Minority Attributable to Balance of Minority Distributed to Shareholders Minority Interests at the End Name of Subsidiary Minority Shareholding Shareholders for of the Period Shareholders for Ratio the Period the Period 35 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Dividends Profit or Loss Declared and Minority Attributable to Balance of Minority Distributed to Shareholders Minority Interests at the End Name of Subsidiary Minority Shareholding Shareholders for of the Period Shareholders for Ratio the Period the Period Zhongke Meiling 52.55% 10040546.05 4066474.72 326857245.69 Hongyuan Ground 7.13%456769.0412481444.79 Energy Ridian Technology 0.96% -29995.89 1135608.78 Meiling Life Appliances 30.00% 8422374.03 62185345.06 2. Major Financial Information of Significant Non-Wholly Owned Subsidiaries (1) Assets and Liabilities Ending balance Name of Subsidiary Non-Current Non-Current Current Assets Total Assets Current Liabilities Total Liabilities Assets Liabilities Zhongke 614958991.36136492746.14751451737.50118994118.077407743.76126401861.83 Meiling Hongyuan 507443994.72186112383.06693556377.78420354388.0498146663.29518501051.33 Ground Energy Ridian 150451021.6632757842.48183208864.1464931854.23156004.0965087858.32 Technology Meiling Life 573378151.9553120587.32626498739.27548879939.21548879939.21 Appliances (Continued) Beginning balance Name of Subsidiary Non-Current Non-Current Current Assets Total Assets Current Liabilities Total Liabilities Assets Liabilities Zhongke 616938129.16128338295.37745276424.53125597564.667937753.69133535318.35 Meiling Hongyuan 659779005.79119097321.45778876327.24634669777.1369947593.70704617370.83 Ground Energy Ridian 203569313.3535669577.14239238890.49114766806.02946297.67115713103.69 Technology Meiling Life 626279605.7753468923.29679748529.06497055436.733483188.91500538625.64 Appliances 35 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (2) Profit or Loss and Cash Flows Current period amount Name of Subsidiary Total Comprehensive Net Cash Flows From Operating Revenue Net profit Income Operating Activities Zhongke Meiling 308544895.46 19107093.28 19107093.28 29432536.67 Hongyuan Ground 1599275700.734180891.584180891.58113930340.78 Energy Ridian Technology 71986391.67 -3112073.18 -3112073.18 -14623687.38 Meiling Life 1375665572.8928074580.0928074580.0980303161.72 Appliances (Continued) Corresponding prior period amount Name of Subsidiary Total Comprehensive Net Cash Flows From Operating Revenue Net profit Income Operating Activities Zhongke Meiling 295773281.94 18087029.57 18087029.57 25513232.80 Hongyuan Ground 1576880674.397684601.117684601.1150051754.93 Energy Ridian Technology 140493379.04 -18360438.04 -18360438.04 -154927.16 Meiling Life 1335609757.7339416387.3639416387.3640668906.07 Appliances (III)Interests in Joint Ventures and Associates 1. Significant Joint Ventures and Associates Princip Shareholding al Ratio (%) Place Name of Joint Place Accounting Method for of Nature of Venture or of Investments in Joint Registr Business Direc Indire Associate Busine Ventures and Associates ation t ct ss Sichuan Zhiyijia Network Miany Miany Sales 50.00 Equity Method Technology Co. ang ang Ltd. 2. Major Financial Information of Significant Associates Items Sichuan Zhiyijia Network Technology Co. Ltd. 35 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Ending Beginning Balance/Amounts Balance/Amounts for the for the Prior Period Current Period Current Assets 1976908031.77 2007299998.18 17024852.80 20768579.44 Non-Current Assets Total Assets 1993932884.57 2028068577.62 Current Liabilities 1853773141.19 1902969573.01 6391421.04 Non-Current Liabilities 5502319.74 Total Liabilities 1859275460.93 1909360994.05 Minority Interests Equity Attributable to Owners of 134657423.64118707583.57 the Parent Company Share of Net Assets Calculated 67328711.8259353791.79 Based on Shareholding Ratio Adjustments 821877.28 821877.28 Goodwill 821877.28 821877.28 Carrying Amount of Equity 68150589.0960175669.07 Investments in Associates Fair Value of Equity Investments in Associates with Quoted Market Prices Operating Revenue 904997300.31 481211169.61 17299421.97 16537997.96 Net profit Net Profit (Loss) from Discontinued Operations Other Comprehensive Income Total Comprehensive Income 17299421.97 16537997.96 Dividends Received from 674790.955097740.91 Associates during the Period 3. Summary Financial Information of Insignificant Joint Ventures and Associates Ending Beginning Balance/Prior Items Balance/Current Period Amounts Period Amounts Associates Total Carrying Amount of Investments 19998217.25 21335477.75 Total Amounts of the Following Items Calculated Based on Shareholding Ratio 35 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Ending Beginning Balance/Prior Items Balance/Current Period Amounts Period Amounts Net profit -660725.53 -3204885.32 Other Comprehensive Income 754520.37 -733111.33 Total Comprehensive Income 93794.84 -3937996.65 4. Excess Losses Incurred by Joint Ventures and Associates Hefei Xinmei Solar Energy Technology Co. Ltd. and Changhong Ruba Electric Company (Private) Ltd. have incurred excess losses.IX. Government Grants (I) Additional Government Grants Recognized During the Period Amount of Additional Items Government Grants During the Period Government grants related to assets 42377913.27 Including: Recognized in Deferred Income 42377913.27 Government grants related to income 65424724.80 Including: Recognized in Other Income 65424724.80 Total 107802638.07 (II) Liability Items Involving Government Grants Amount of Amount Amount Additional Recognized in Recognized in Line Items in the Beginning Government Other Income Non-Operating Financial balance Grants During during the Income during Statements the Period Period the Period Deferred income 125435177.90 42377913.27 28756383.41 Subtotal 125435177.90 42377913.27 28756383.41 (Continued) 35 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amount Amount Used to Used to Line Items in the Offset Cost Offset Other Related to Financial and Assets Ending balance changes Assets/Income Statements Expenses during during the the Period Period Related to Deferred income 139056707.76 Assets Subtotal 139056707.76 (III) Amount of Government Grants Recognized in Current Profit or Loss Corresponding Current period Items prior period amount amount 94518572.69103253170.72 Other Income Total 94518572.69 103253170.72 (IV) Government Grants Refunded during the Period Refund Items Reason for Refund Amount Refund of Software Enterprise Income Step-Up Failure to Meet Review 200000.00 Reward Requirements Total 200000.00 X. Risks Arising from Financial Instruments The Company’s principal financial instruments include borrowings receivables payables financial assets at fair value through profit or loss derivative financial assets financial liabilities at fair value through profit or loss and derivative financial liabilities.Details of these financial instruments are set out in Note V to the financial statements. Risks arising from these financial instruments include market risk credit risk and liquidity risk. The Company’s management manages and monitors these risk exposures to ensure that the above risks are controlled within defined limits. 35 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (I) Objectives and Policies for the Management of Each Category of Risks The Company’s objective in managing risks is to achieve an appropriate balance between risks and returns minimize the adverse impact of risks on the Company’s operating results and maximize the interests of shareholders and other equity investors. Based on this risk management objective the Company’s basic risk management strategy is to identify and analyze various risks faced by the Company establish appropriate risk tolerance thresholds and implement risk management and monitor various risks in a timely and reliable manner to control risks within defined limits. 1. Market Risk (1) Exchange Rate Risk The Company closely monitors the impact of exchange rate fluctuations on the Company.The Company attaches importance to the research of exchange rate risk management policies and strategies. To hedge the exchange rate risk arising from foreign currency purchase for payments and foreign currency settlement for receipts the Company has entered into several forward foreign exchange contracts with banks. The fair value of forward foreign exchange contracts recognized as derivative financial instruments as of December 31 2025 was RMB 23036935.16. Changes in the fair value of derivative financial instruments have been recognized in profit or loss as detailed in Note V(II)9 Income from Fair Value Changes.Meanwhile with the continuous change in international market share in the event of uncontrollable risks such as unilateral sharp fluctuations in the RMB exchange rate the Company will reduce the resulting risks by adjusting sales or procurement strategies. (2) Interest Rate Risk The Company’s interest rate risk arises from bank borrowings and interest-bearing debts.Floating-rate financial liabilities expose the Company to cash flow interest rate risk while fixed-rate financial liabilities expose the Company to fair value interest rate risk. The 35 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Company determines the relative proportion of fixed-rate and floating-rate instruments based on prevailing market conditions. As of December 31 2025 the Company’s interest-bearing debts mainly consisted of fixed-rate borrowings denominated in RMB with a total amount of RMB 913500000.00. The Company’s risk of changes in the fair value of financial instruments due to interest rate movements mainly relates to fixed-rate bank borrowings. The Company’s risk of changes in cash flows of financial instruments due to interest rate movements mainly relates to floating-rate bank borrowings. The Company closely monitors the impact of such interest rate changes on the Company and attaches importance to the research of interest rate risk management policies and strategies. 2. Credit Risk As of December 31 2025 the maximum exposure to credit risk that could cause financial losses to the Company mainly arises from losses on the Company’s financial assets resulting from the failure of the counterparty to perform obligations as well as financial guarantees provided by the Company specifically including: The carrying amounts of recognized financial assets in the consolidated balance sheet; for financial instruments measured at fair value the carrying amount reflects the risk exposure but not the maximum risk exposure which will change with future changes in fair value. To mitigate credit risk the Company has established a dedicated department to set credit limits conduct credit approvals and implement other monitoring procedures to ensure necessary measures are taken to recover overdue receivables. Meanwhile the Company seeks to reduce the impact of credit defaults on receivables through credit insurance purchases. In addition the Company reviews the collectability of each individual receivable at each balance sheet date to ensure that adequate provision for bad debts is made for uncollectible amounts. Accordingly the management of the Company considers that the credit risk borne by the Company has been significantly reduced. The Company’s liquid funds are deposited with finance companies resulting in low credit risk for liquid funds. The Company has adopted necessary policies to ensure that all sales customers maintain good credit records. The aggregate amount of the top 35 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) five accounts receivable and contract assets was RMB 905657274.73 accounting for 38.89% of the year-end accounts receivable and contract assets. The Company does not rely on major customers. Except for the top five accounts receivable the Company has no other material concentration of credit risk. 3. Liquidity Risk Liquidity risk is the risk that the Company will be unable to fulfill its financial obligations at maturity. The Company’s method of managing liquidity risk is to maintain sufficient fund liquidity to fulfill maturing debts through fund planning management without incurring unacceptable losses or damaging corporate reputation. The Company prepares fund plans in advance according to the fund planning cycle requirements to ensure sufficient funds for debt maturity. The management of the Company monitors the utilization of bank borrowings to ensure compliance with borrowing agreements and conducts financing negotiations with financial institutions to maintain certain credit lines to mitigate liquidity risk.Financial liabilities classified by remaining maturity Ending balance Items Undiscounted Carrying value Within 1 year 1-3 years Over 3 years contractual amounts Bank borrowings 921298606.97 933361870.58 816364918.06 90415992.52 26580960.00 Derivative financial 38804849.55 38804849.55 38804849.55 liabilities Notes payable 7004658556.59 7004658556.59 7004658556.59 Accounts 4934324141.764934324141.764934324141.76 payable Other payables 1147202585.58 1147202585.58 1147202585.58 Lease liabilities (including current portion 143543312.41 163967408.00 34549399.55 54256453.73 75161554.72 due within one year) 36 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Ending balance Items Undiscounted Carrying value Within 1 year 1-3 years Over 3 years contractual amounts Other current 5041493.325041493.325041493.32 liabilities Subtotal 14194873546.18 14227360905.38 13980945944.41 144672446.25 101742514.72 (II) Hedging Activities 1. Risk Management of Hedging Activities The Company primarily uses forward foreign exchange contracts to hedge against foreign exchange fluctuation risks. The Company designates purchased forward foreign exchange contracts as hedging instruments and accounts for them using hedge accounting.The hedged items such as unrecognized firm commitments are assessed at the balance sheet date. The Company assesses hedge effectiveness using the ratio analysis method and considers the hedges to be highly effective. The amount of ineffectiveness recognized in the current period is not material.Impact of Corresponding Effective Qualitative and corresponding risk Economic relationship achievement of quantitative hedging Items management between hedged items and expected risk information on activities on strategies and related hedging instruments management hedged risks risk objectives objectives exposures Forward foreign exchange Foreign In accordance contracts: Hedging exchange with hedge instruments are designated hedging refers to accounting Extent to which to hedge foreign exchange a risk standards and Foreign changes in fair exposures arising from management to ensure exchange or value or cash operations: foreign activity that hedge interest rate flows of exchange exposures include designates effectiveness Forward risk hedging recognized assets financial the foreign prevention instruments are recognized liabilities and instruments as prerequisite exchange strategies expected to irrevocable orders. hedging for exposure contracts focusing on offset all or part Irrevocable orders refer to instruments to hedging is hedging and of changes in unrecognized firm manage that the risk fair value or commitments. exposures currencies are prevention cash flows of Unrecognized means not arising from the same the hedged items yet recognized in the foreign directions are balance sheet. A firm exchange risk opposite and commitment is a binding and interest rate the expected agreement with legal risk such that foreign enforceability to exchange a changes in the exchange 36 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Impact of Corresponding Effective Qualitative and corresponding risk Economic relationship achievement of quantitative hedging Items management between hedged items and expected risk information on activities on strategies and related hedging instruments management hedged risks risk objectives objectives exposures specified quantity of fair value or receipt and resources at a specified cash flows of the payment price on a specified future hedging dates are date or during a specified instruments are close.future period. expected to offset all or part of the changes in the fair value or cash flows of the hedged items. 2. The Company Conducts Eligible Hedging Activities and Applies Hedge Accounting Cumulative fair value Carrying amounts hedge adjustments of Sources of hedge Relevant impacts of relating to hedged hedged items included effectiveness and hedge accounting Items items and hedging in the carrying hedge on the Company’s instruments amounts of recognized ineffectiveness financial statements hedged items Fair value hedges Hedging instruments – 61841784.71 derivative financial assets Hedging Financial expenses – instruments – exchange losses; derivative 38804849.55 Investment income; -41617415.46 financial liabilities Income from fair value changes Hedged items – 823274105.58 asset items Hedged items – 6483282309.42 liability items (III) Transfers of Financial Assets 1. Basic Information on Transfers of Financial Assets 36 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Nature of Amount of Transfer transferred Derecognition Basis for judgment of transferred method financial status derecognition status financial assets assets Bill Accounts Substantially all risks endorsement receivable 2936954511.69 Derecognized and rewards have been / bill financing transferred discounting Accounts Substantially all risks Accounts receivable 6269881187.34 Derecognized and rewards have been receivable factoring transferred Subtotal 9206835699.03 2. Details of Financial Assets Derecognized Due to Transfers Gains or losses Method of transfer Amount of financial Items relating to of financial assets assets derecognized derecognition Accounts Bill endorsement / receivable 2936954511.69 -9414509.43 bill discounting financing Accounts Factoring 6269881187.34 receivable -25262999.85 Subtotal 9206835699.03 -34677509.28 XI. Disclosure of Fair Value (I) Details of Fair Value of Assets and Liabilities Measured at Fair Value at the End of the Period Fair value at end of period Items Level 1 fair Level 2 fair Level 3 fair value value Total value measurement measurement measurement Recurring fair value measurement 1. Derivative 61841784.71 61841784.71 Financial Assets (1) Forward Foreign 61841784.71 61841784.71 Exchange Contracts 36 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Fair value at end of period Items Level 1 fair Level 2 fair Level 3 fair value value Total value measurement measurement measurement 2. Accounts 409930586.39 409930586.39 Receivable Financing 3. Other Non-current 73327093.71 588505176.05 661832269.76 Financial Assets Total assets measured at 61841784.7173327093.71998435762.441133604640.86 fair value on a recurring basis 4. Derivative Financial 38804849.55 38804849.55 Liabilities (1) Forward Foreign 38804849.55 38804849.55 Exchange Contracts Total liabilities measured 38804849.5538804849.55 at fair value on a recurring basis (II) Basis for Determining Market Prices of Items Measured at Level 1 Fair Value on a Recurring and Non-recurring Basis The Level 1 derivative financial assets measured at fair value held by the Company are futures contracts and foreign currency options. The market price of futures contracts is determined based on the closing price of the futures contracts at the end of the period; the market price of foreign currency options is determined based on the quotations of foreign currency option contracts of the same term provided by financial institutions at the end of the period.(III) Qualitative and Quantitative Information on Valuation Techniques and Significant Parameters Adopted for Items Measured at Level 2 Fair Value on a Recurring and Non- recurring Basis The other non-current financial assets measured at Level 2 fair value held by the Company are long-term investments in fund companies. For long-term investments in fund companies the assessed carrying amount represents the best estimate of fair value within this category.(IV) Qualitative and Quantitative Information on Valuation Techniques and Significant Parameters Adopted for Items Measured at Level 3 Fair Value on a Recurring and Non- recurring Basis 36 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) The other non-current financial assets measured at Level 3 fair value held by the Company are investments in Sichuan Changhong Group Finance Co. Ltd. and Huishang Bank Co. Ltd. Their fair values are estimated using a series of valuation models and the assumptions adopted are not supported by observable market prices or interest rates. The Company believes that the fair value estimated using valuation techniques and the changes thereof are reasonable and represent the most appropriate values as of the balance sheet date.The financial assets measured at Level 3 fair value held by the Company are bank acceptances receivable which have low credit risk and short remaining terms. The Company determines their fair value based on their face value.XII. Related Parties and Related Party Transactions (I) Relationships with Related Parties 1. Controlling Shareholder and Ultimate Controller Voting Shareholding Rights Controlling Place of Nature of Registered Proportion in Proportion Shareholder Registration Business Capital the in the Company Company Sichuan Changhong Mianyang Manufacture 4616244222.0027.36%27.36% Electric Co. Sichuan and sales Ltd. (1) Controlling Shareholder and Ultimate Controller Sichuan Changhong Electronics Holding Group Co. Ltd. is the controlling shareholder of Sichuan Changhong Electric Co. Ltd. The State-owned Assets Supervision and Administration Commission of Mianyang City holds 90.00% of the equity interests in Sichuan Changhong Electronics Holding Group Co. Ltd. and is the ultimate controller of the Company. (2) Registered Capital of the Controlling Shareholder and Changes Thereof 36 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Increase Decrease Controlling Shareholder Beginning balance during the during the Ending balance year year Sichuan Changhong Electric 4616244222.004616244222.00 Co. Ltd. (3) Shares or Equity Interests Held by the Controlling Shareholder and Changes Thereof Shareholding Amount Shareholding Ratio Proportion Proportion Controlling Shareholder at the at the End Ending balance Beginning balance Beginning of the of the Period Period Sichuan Changhong Electric 281832434.00281832434.0027.36%27.36% Co. Ltd. 2. Subsidiaries For details of subsidiaries please refer to NoteVIII (I) Composition of the Group. 3. Joint Ventures and Associates For details of the Company’s significant joint ventures and associates please refer to NoteVIII (III) 1 Significant Joint Ventures and Associates. Other joint ventures and associates that have entered into related party transactions with the Company during the period or have outstanding balances arising from related party transactions with the Company in prior periods are as follows: Name of Joint Venture or Associate Relationship with the Company Associate of Subsidiary Zhongshan Changhong Ruba Electric Company (Private) Ltd.Changhong Associate of Subsidiary Changhong Air Sichuan Tianyou Guigu Technology Co. Ltd.Conditioner Chengdu Guigu Environmental Technology Co. Associate of Subsidiary Changhong Air Ltd. Conditioner Sichuan Zhiyijia Network Technology Co. Ltd. Associate of the Company; same controlling shareholder and actual controller as the 36 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Name of Joint Venture or Associate Relationship with the Company Company 4. Other Related Parties Name of Other Related Party Relationship with the Company Controlled by the same controlling Sichuan Changhong Mold Plastic Tech. Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Changhong Jijia Fine Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Changhong Huayi Compressor Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Aichuang Technology Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Changhong Package Printing Co. Ltd.shareholder and ultimate controller Sichuan Changhong Precision Electronic Technology Controlled by the same controlling Co. Ltd. shareholder and ultimate controller Controlled by the same controlling Sichuan Aoku Technology Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Changhong Electronic Products Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Ailian Technology Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Changhong Device Technology Co. Ltd.shareholder and ultimate controller Changhong International Holdings (Hong Kong) Co. Controlled by the same controlling Ltd. shareholder and ultimate controller Controlled by the same controlling Guangdong Changhong Electronics Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Changhong New Energy Technology Co. Ltd.shareholder and ultimate controller Sichuan Changhong Intelligent Manufacturing Controlled by the same controlling Technology Co. Ltd. shareholder and ultimate controller Controlled by the same controlling Sichuan Changhong International Hotel Co. Ltd.shareholder and ultimate controller 36 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Name of Other Related Party Relationship with the Company Controlled by the same controlling Sichuan Changhong Hongwei Technology Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Jiahong Industrial Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Changhong Minsheng Logistics Co. Ltd.shareholder and ultimate controller Sichuan Changhong Kuaiyidian Electric Service Co. Controlled by the same controlling Ltd. shareholder and ultimate controller Controlled by the same controlling Changhong Europe Electric s.r.o shareholder and ultimate controller Controlled by the same controlling Sichuan Qiruike Technology Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Hongxin Software Co. Ltd.shareholder and ultimate controller Controlled by the same controlling CHANGHONG ELECTRIC (AUSTRALIA) PTY.shareholder and ultimate controller Sichuan Changhong Gerun Environmental Protection Controlled by the same controlling Technology Co. Ltd. shareholder and ultimate controller Controlled by the same controlling Sichuan Changhong Property Service Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Changhong Xinwang Technology Co. Ltd.shareholder and ultimate controller Sichuan Hongcheng Construction Engineering Co. Controlled by the same controlling Ltd. shareholder and ultimate controller Controlled by the same controlling Sichuan Changhong Network Technology Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Hongmofang Network Technology Co. Ltd.shareholder and ultimate controller Controlled by the same controlling CHANGHONG(HK) TRADING LIMITED shareholder and ultimate controller Controlled by the same controlling CHANGHONG.ELECTRIC.(AUSTRALIA)PTY.LTD.shareholder and ultimate controller Controlled by the same controlling Orion.Co.ltd shareholder and ultimate controller 36 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Name of Other Related Party Relationship with the Company Controlled by the same controlling Sichuan Huafeng Technology Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Zhongjiu Flash Medical Technology Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Yuanxin Financial Leasing Co. Ltd.shareholder and ultimate controller Sichuan Changhong Jiechuang Lithium Battery Controlled by the same controlling Technology Co. Ltd. shareholder and ultimate controller Controlled by the same controlling Mianyang Hongshang Real Estate Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Hongshang Construction Engineering Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Changhong Real Estate Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Mianyang Huafeng Hulian Technology Co. Ltd.shareholder and ultimate controller Sichuan Changhong Jiahua Information Products Co. Controlled by the same controlling Ltd. shareholder and ultimate controller Controlled by the same controlling Sichuan Changhong Power Source Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Sichuan Changhong Education Technology Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Chengdu Changhong Minsheng Logistics Co. Ltd.shareholder and ultimate controller Controlled by the same controlling 081 Electronic Group Co. Ltd. shareholder and ultimate controller Guangyuan Changhong Electronic Technology Co. Controlled by the same controlling Ltd. shareholder and ultimate controller Controlled by the same controlling Chengdu Changhong Electronic Technology Co. Ltd.shareholder and ultimate controller Controlled by the same controlling Zhongshan Guanghong Mold Plastic Tech. Co. Ltd.shareholder and ultimate controller Controlled by the same controlling PT.CHANGHONG ELECTRIC INDONESIA shareholder and ultimate controller 36 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Name of Other Related Party Relationship with the Company Sichuan Changxin Refrigeration Parts Co. Ltd. Associate of the controlling shareholder Sichuan Hongran Green Energy Co. Ltd. Associate of the controlling shareholder Mianyang Haili Appliance Co. Ltd. Associate of the controlling shareholder Sichuan Hongyun New Generation Information Technology Venture Capital Fund Partnership Associate of the controlling shareholder Enterprise (Limited Partnership) Enterprise where the supervisor of the Mianyang High-tech Zone Hongfu Technology Co.controlling shareholder acts as the legal Ltd.representative Associate of other enterprises under the Sichuan Baiku Technology Co. Ltd. control of the same controlling shareholder (II) Related Party Transactions 1. Purchase of Goods Amounts incurred WhetheApproved Amount in r Transactio during the transaction prior period Related party n Content period exceedi quota (RMB ng the (RMB (RMB 10000) quota 10000) 10000) Sichuan Changhong Purchase Electronics Holding Group 260842.30 350000.00 No 246940.12 of goods Co. Ltd.Sichuan Changhong Mold Purchase 111811.87 160000.00 No 109355.07 Plastic Tech. Co. Ltd. of goods Sichuan Changhong Jijia Purchase 62201.71 90000.00 No 65751.66 Fine Co. Ltd. of goods Sichuan Changxin Purchase Refrigeration Parts Co. 60226.67 66108.78 of goods Ltd.Changhong Huayi Purchase 51480.82 80000.00 No 56726.83 Compressor Co. Ltd. of goods 37 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amounts incurred WhetheApproved Amount in during the r Transactio transaction prior period Related party exceedi n Content period quota (RMB ng the (RMB (RMB 10000) quota 10000) 10000) Sichuan Aichuang Purchase 31448.88 42000.00 No 15558.82 Technology Co. Ltd. of goods Sichuan Changhong Purchase 14343.00 25000.00 No 14933.66 Package Printing Co. Ltd. of goods Sichuan Changhong Purchase 8062.15 15000.00 No 9529.65 Electric Co. Ltd. of goods Sichuan Changhong Purchase Precision Electronic 2686.09 4000.00 No 3122.63 of goods Technology Co. Ltd.Sichuan Aoku Technology Purchase 2387.74 7000.00 No 2576.51 Co. Ltd. of goods Sichuan Changhong Purchase Electronic Products Co. 1864.88 5000.00 No 2433.07 of goods Ltd.Sichuan Zhiyijia Network Purchase 1788.55 5000.00 No 604.42 Technology Co. Ltd. of goods Sichuan Ailian Purchase 1373.13 3000.00 No 1230.76 Technology Co. Ltd. of goods Sichuan Changhong Purchase Device Technology Co. 789.46 5000.00 No 501.45 of goods Ltd.Changhong International Purchase Holdings (Hong Kong) 779.82 4000.00 No 1952.84 of goods Co. Ltd.Guangdong Changhong Purchase 704.89 5000.00 No 1080.41 Electronics Co. Ltd. of goods Changhong Ruba Electric Purchase 323.00409.17 Company (Private) Ltd. of goods Sichuan Hongran Green Purchase 177.69132.33 Energy Co. Ltd. of goods Sichuan Changhong New 69.32 5000.00 No 80.08 Purchase Energy Technology Co. 37 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amounts incurred WhetheApproved Amount in r Transactio during the transaction prior period Related party exceedi n Content period quota (RMB ng the (RMB (RMB 10000) quota 10000) 10000) Ltd. of goods Sichuan Changhong Purchase Intelligent Manufacturing 10.16 5000.00 No 0.49 of goods Technology Co. Ltd.Sichuan Changhong Purchase International Hotel Co. 2.70 5000.00 No 3.31 of goods Ltd.Sichuan Changhong Purchase Hongwei Technology Co. 2.32 5000.00 No 33.49 of goods Ltd.Sichuan Jiahong Industrial Purchase 1.98 5000.00 No 0.99 Co. Ltd. of goods Mianyang Haili Appliance Purchase 41209.09 Co. Ltd. of goods Total 613379.13 640275.63 2. Receipt of Services Whether Transactio Amounts incurred Approved Amount in prior Related party exceeding n Content during the period transaction quota period the quota Sichuan Changhong Receipt of Minsheng Logistics 814867975.02 850000000.00 No 690604599.29 services Co. Ltd.Sichuan Changhong Receipt of Kuaiyidian Electric 394059263.36 510000000.00 No 388970261.66 services Service Co. Ltd.Sichuan Changhong Receipt of Mold Plastic Tech. 37386895.61 65000000.00 No 41840238.31 services Co. Ltd.Sichuan Changhong Receipt of 33481873.51 100000000.00 No 29383913.77 Electric Co. Ltd. services Sichuan Changhong Receipt of Hongwei Technology 23593827.13 100000000.00 No 2791966.25 services Co. Ltd. 37 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Whether Transactio Amounts incurred Approved Amount in prior Related party exceeding n Content during the period transaction quota period the quota Changhong Europe Receipt of 15064254.15 100000000.00 No Electric s.r.o services Sichuan Changxin Receipt of Refrigeration Parts 13441710.21 8616507.40 services Co. Ltd.Sichuan Changhong Receipt of 9396466.28 100000000.00 No 4513721.37 Jijia Fine Co. Ltd. services Sichuan Jiahong Receipt of 11380208.98 50000000.00 No 7053542.74 Industrial Co. Ltd. services Sichuan Qiruike Receipt of 7327436.60 50000000.00 No 9037166.72 Technology Co. Ltd. services Changhong International Receipt of 7017621.46 100000000.00 No Holdings (Hong services Kong) Co. Ltd.Sichuan Changhong Receipt of Electronics Holding 3711293.93 3500000000.00 No 2447354.74 services Group Co. Ltd.Sichuan Changhong Intelligent Receipt of 2397169.81 50000000.00 No Manufacturing services Technology Co. Ltd.Sichuan Changhong Receipt of International Hotel 1806060.43 50000000.00 No 1306322.67 services Co. Ltd.Sichuan Hongxin Receipt of 1688290.40 100000000.00 No 1982132.08 Software Co. Ltd. services CHANGHONG Receipt of ELECTRIC 1176140.25 100000000.00 No services (AUSTRALIA) PTY. Sichuan Aichuang Receipt of 870195.59 50000000.00 No 620668.67 Technology Co. Ltd. services Guangdong Receipt of Changhong 283923.51 100000000.00 No 306937.56 services Electronics Co. Ltd.Sichuan Changhong Gerun Environmental Receipt of 269307.68 50000000.00 No 118705.94 Protection services Technology Co. Ltd. 37 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Whether Transactio Amounts incurred Approved Amount in prior Related party exceeding n Content during the period transaction quota period the quota Sichuan Changhong Receipt of Property Service Co. 74834.36 50000000.00 No 112407.14 services Ltd.Sichuan Changhong Receipt of Xinwang Technology 59358.46 100000000.00 No 8532.11 services Co. Ltd.Sichuan Zhiyijia Receipt of Network Technology 32618.39 100000000.00 No 105496.47 services Co. Ltd.Sichuan Ailian Receipt of 1965.60 50000000.00 No Technology Co. Ltd. services Sichuan Hongcheng Receipt of Construction 540.00 50000000.00 No services Engineering Co. Ltd.Mianyang High-tech Receipt of Zone Hongfu 1293081.71 services Technology Co. Ltd.Sichuan Changhong Receipt of Device Technology 221109.20 services Co. Ltd.Sichuan Changhong Receipt of Electronic Products 34147.70 services Co. Ltd.Chengdu Guigu Receipt of Environmental 84905.66 services Technology Co. Ltd.Sichuan Changhong Receipt of Network Technology 30517.92 services Co. Ltd.Sichuan Hongmofang Receipt of Network Technology 6042.83 services Co. Ltd.Total 1379389230.72 1191490279.91 3. Sale of Goods 37 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amounts Amount in Transaction incurred during Related party prior period Content the period (RMB 10000) (RMB 10000) Sichuan Zhiyijia Network Technology Sale of goods 642779.70 734224.78 Co. Ltd.CHANGHONG(HK) TRADING Sale of goods 145226.69 65382.61 LIMITED Changhong International Holdings Sale of goods 43674.92 17436.75 (Hong Kong) Co. Ltd.CHANGHONG.ELECTRIC.(AUSTRA Sale of goods 31176.68 25696.65 LIA)PTY.LTD.Changhong Europe Electric s.r.o Sale of goods 16820.62 9553.85 Orion.Co.ltd Sale of goods 934.54 4062.24 Sichuan Changhong Kuaiyidian Electric Sale of goods 707.42 616.30 Service Co. Ltd.Guangdong Changhong Electronics Co.Sale of goods 621.96 Ltd.Sichuan Changhong Electric Co. Ltd. Sale of goods 299.48 121.69 PT.CHANGHONGELECTRICINDONE Sale of goods 222.44 194.30 SIA Sichuan Changhong Xinwang Sale of goods 207.96 Technology Co. Ltd.Sichuan Huafeng Technology Co. Ltd. Sale of goods 134.23 Sichuan Changhong Minsheng Logistics Sale of goods 94.85 177.14 Co. Ltd.Sichuan Changhong New Energy Sale of goods 92.92 98.75 Technology Co. Ltd.Zhongjiu Flash Medical Technology Co.Sale of goods 74.35 Ltd.Yuanxin Financial Leasing Co. Ltd. Sale of goods 61.85 256.85 Sichuan Changhong Jiechuang Lithium Sale of goods 45.13 Battery Technology Co. Ltd. 37 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amounts Amount in Transaction incurred during Related party prior period Content the period (RMB 10000) (RMB 10000) Sichuan Hongcheng Construction Sale of goods 29.00 Engineering Co. Ltd.Sichuan Aichuang Technology Co. Ltd. Sale of goods 23.54 2.26 Sichuan Changhong Mold Plastic Tech.Sale of goods 15.70 17.23 Co. Ltd.Sichuan Baiku Technology Co. Ltd. Sale of goods 12.19 2.99 Sichuan Ailian Technology Co. Ltd. Sale of goods 11.31 10.54 Sichuan Aoku Technology Co. Ltd. Sale of goods 3.70 25.52 Sichuan Jiahong Industrial Co. Ltd. Sale of goods 3.34 Chengdu Guigu Environmental Sale of goods 3.19 29.05 Technology Co. Ltd.Mianyang Hongshang Real Estate Co.Sale of goods 1.69 1.59 Ltd.Sichuan Hongshang Construction Sale of goods 1.42 Engineering Co. Ltd.Sichuan Changhong Real Estate Co.Sale of goods 0.40 2.39 Ltd.Sichuan Changhong Precision Electronic Sale of goods 0.03 Technology Co. Ltd.Mianyang Huafeng Hulian Technology Sale of goods 790.27 Co. Ltd.Sichuan Changhong Gerun Environmental Protection Technology Sale of goods 98.43 Co. Ltd.Sichuan Changhong Device Technology Sale of goods 95.13 Co. Ltd.Sichuan Changhong Jiahua Information Sale of goods 43.24 Products Co. Ltd.Sichuan Changhong Electronics Holding Sale of goods 14.67 Group Co. Ltd. 37 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amounts Amount in Transaction incurred during Related party prior period Content the period (RMB 10000) (RMB 10000) Sichuan Changhong Network Sale of goods 7.54 Technology Co. Ltd.Sichuan Changhong Jijia Fine Co. Ltd. Sale of goods 1.09 Sichuan Changhong Power Source Co.Sale of goods 0.75 Ltd.Sichuan Changhong Hongwei Sale of goods 0.16 Technology Co. Ltd.Sichuan Changhong International Hotel Sale of goods 0.11 Co. Ltd.Total 883281.25 858964.87 4. Provision of Services Transaction Amounts incurred Amount in prior Related party Content during the period period Sichuan Changhong Mold Plastic Provision of 4922555.724099830.16 Tech. Co. Ltd. services Sichuan Changhong Electric Co. Provision of 4048490.847577406.09 Ltd. services Sichuan Huafeng Technology Co. Provision of 3510909.65-11201.00 Ltd. services Sichuan Changhong Xinwang Provision of 2196330.28-101370.00 Technology Co. Ltd. services Sichuan Changhong Kuaiyidian Provision of 1929924.921463906.78 Electric Service Co. Ltd. services Sichuan Changhong New Energy Provision of 889908.25660622.02 Technology Co. Ltd. services Zhongjiu Flash Medical Technology Provision of 719919.27 Co. Ltd. services Sichuan Changhong Jijia Fine Co. Provision of 566046.32455956.13 Ltd. services Changhong Huayi Compressor Co. Provision of 382428.92 1396465.80 37 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Transaction Amounts incurred Amount in prior Related party Content during the period period Ltd. services Sichuan Changhong Property Provision of 275357.01214043.74 Service Co. Ltd. services Changhong International Holdings Provision of 243244.52101351.88 (Hong Kong) Co. Ltd. services Mianyang Huafeng Hulian Provision of 204380.2610724113.48 Technology Co. Ltd. services Sichuan Changhong Electronics Provision of 188679.255875.00 Holding Group Co. Ltd. services Sichuan Zhiyijia Network Provision of 177159.15101440.08 Technology Co. Ltd. services Sichuan Changhong Minsheng Provision of 134994.70136628.82 Logistics Co. Ltd. services Sichuan Changhong Jiechuang Provision of Lithium Battery Technology Co. 118998.08 53864.91 services Ltd.Sichuan Aichuang Technology Co. Provision of 81249.96955904.56 Ltd. services Provision of Sichuan Aoku Technology Co. Ltd. 46406.28 77946.40 services Sichuan Changhong International Provision of 31964.5942909.37 Hotel Co. Ltd. services Sichuan Changhong Device Provision of 20907.37552789.38 Technology Co. Ltd. services Sichuan Changhong Precision Provision of 12822.17 Electronic Technology Co. Ltd. services Sichuan Changhong Education Provision of 7800.009000.00 Technology Co. Ltd. services Sichuan Changhong Electronic Provision of 5190.563600.00 Products Co. Ltd. services Chengdu Guigu Environmental Provision of 3989.158391.23 Technology Co. Ltd. services Sichuan Ailian Technology Co. Ltd. Provision of 3173.00 3229.42 37 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Transaction Amounts incurred Amount in prior Related party Content during the period period services Sichuan Changhong Hongwei Provision of 1410.00 Technology Co. Ltd. services Provision of Yuanxin Financial Leasing Co. Ltd. -5996.33 570024.15 services Sichuan Changhong Network Provision of 173539.62 Technology Co. Ltd. services Sichuan Qiruike Technology Co. Provision of 1446.00 Ltd. services Total 20718243.89 29277714.02 5. Related Party Leases (1) Leases by the Company as Lessor Rental income Rental income Lessor Lessee Type of assets for the prior for the period period Changho Apartments Sichuan Changhong Mold Plastic ng factory 2090920.82 1998754.51 Tech. Co. Ltd.Meiling buildings Changho Apartments Sichuan Changhong Jijia Fine Co.ng factory 821937.52 796113.61 Ltd.Meiling buildings Changho Sichuan Changhong Minsheng ng Apartments 214589.80 219708.07 Logistics Co. Ltd.Meiling Changho Sichuan Changhong Kuaiyidian Apartments ng 193699.89 202690.08 Electric Service Co. Ltd. offices Meiling Changho Sichuan Zhiyijia Network ng Apartments 168440.36 188256.88 Technology Co. Ltd.Meiling Changho ng Sichuan Aoku Technology Co. Ltd. Apartments 5858.10 Meiling 37 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Rental income Rental income Lessor Lessee Type of assets for the prior for the period period Hefei Sichuan Changhong Mold Plastic Factory 9728635.539538474.71 Industrial Tech. Co. Ltd. buildings Hefei Sichuan Changhong Jijia Fine Co. Factory 2708143.202451535.20 Industrial Ltd. buildings Hefei Sichuan Changhong Kuaiyidian Factory 306493.20243950.40 Industrial Electric Service Co. Ltd. buildings Hefei Sichuan Changhong Education Factory 6480.0017280.00 Industrial Technology Co. Ltd. buildings Hefei Sichuan Changhong Minsheng Factory 202464.00 Industrial Logistics Co. Ltd. buildings Changho Factory ng Air Sichuan Changhong Mold Plastic buildings 5572447.86 5716010.19 Condition Tech. Co. Ltd.equipment er Changho Factory ng Air Sichuan Changhong Jijia Fine Co.buildings 3682131.01 3706088.50 Condition Ltd.equipment er Changho Factory ng Air Sichuan Changhong Electric Co.buildings 853084.73 844041.16 Condition Ltd.equipment er Changho ng Air Sichuan Changhong Minsheng Factory 9100.00 Condition Logistics Co. Ltd. buildings er Changho Small U ng Air Sichuan Changxin Refrigeration processing 53333.35 Condition Parts Co. Ltd.equipment er Changho ng Air Chengdu Guigu Environmental Buildings 28403.67 Condition Technology Co. Ltd.er Ridian Sichuan Changhong Precision Factory 1581432.99 845919.00 Technolo 38 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Rental income Rental income Lessor Lessee Type of assets for the prior for the period period gy Electronic Technology Co. Ltd. buildings Ridian Sichuan Changhong Minsheng Factory Technolo 504770.40 Logistics Co. Ltd. buildings gy Ridian Sichuan Changhong Device Factory Technolo 20088.87 1285985.43 Technology Co. Ltd. buildings gy Ridian Sichuan Qiruike Technology Co. Factory Technolo 47314.29 Ltd. buildings gy Zhongsha n Sichuan Changhong Minsheng Office 34513.7644297.16 Changho Logistics Co. Ltd. buildings ng Factory Jiangxi Sichuan Changhong Mold Plastic buildings 1513107.52 1016358.11 Meiling Tech. Co. Ltd.offices Jiangxi Sichuan Changhong Jijia Fine Co.Warehouses 16000.00 16000.00 Meiling Ltd.Jiangxi Sichuan Aichuang Technology Co.Warehouses 9600.00 9600.00 Meiling Ltd.Jiangxi Sichuan Changhong Minsheng Warehouse 9142.869142.86 Meiling Logistics Co. Ltd. offices Jiangxi Sichuan Aoku Technology Co. Ltd. Warehouses 3840.00 3840.00 Meiling Jiangxi Sichuan Changhong Electronic Warehouses 600.00 Meiling Products Co. Ltd.Total 30049200.32 29491419.28 (2) Leases by the Company as Lessee 38 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Variable lease Rental expenses for short- payments not term leases and leases of low- included in the Interest expenses on lease Rent paid Increase in right-of-use assets value assets under simplified measurement of liabilities borne Type of treatment (if applicable) lease liabilities (if Name of Name of Lessor Leased applicable) Lessee Assets Amounts Amoun Amount Amount for incurred Amount in t for the Amount for Amount for Amount for Amount for Amount for for the the prior during the prior period prior the year the prior year the year the year the prior year year year period year Changhong Huayi Jiangxi Staff Compressor Co. 114803.62 54380.67 Meiling dormitories Ltd.Guangdong Changhong Ridian Buildings -394.06 41405.14 Electronics Co. Technology Ltd.Chengdu Changhong Zhongshan Buildings 9910201.95 579718.08 1796054.98 Minsheng Changhong Logistics Co. Ltd.Sichuan Zhiyijia Changhong Network Air Offices 21600.00 4954.13 Technology Co.Conditioner Ltd.Sichuan Jiahong Changhong Dormitories 286565.15 432717.96 Industrial Co. Ltd. Air 38 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Variable lease Rental expenses for short- payments not term leases and leases of low- included in the Interest expenses on lease Rent paid Increase in right-of-use assets value assets under simplified measurement of liabilities borne Type of treatment (if applicable) lease liabilities (if Name of Name of Lessor Leased applicable) Lessee Assets Amounts Amoun Amount Amount for incurred Amount in t for the Amount for Amount for Amount for Amount for Amount for for the the prior during the prior period prior the year the prior year the year the year the prior year year year period year Conditioner Sichuan Changhong Workshop Changhong Air 437895.52 240198.20 F3 Electric Co. Ltd. Conditioner Sichuan Changhong Changhong Shops Electronics Air 3840.00 188111.02 188111.04 7014.94 7014.92 376222.06 dormitories Holding Group Conditioner Co. Ltd.Sichuan Changhong VISA Changhong Air 306863.00 306863.00 34315.04 34315.04 Laboratory Electric Co. Ltd. Conditioner Sichuan Huafeng Changhong Staff Technology Co. Air 183000.00 dormitories Ltd. Conditioner Guangdong Ground Staff 19215.70 81398.37 Changhong Energy 38 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Variable lease Rental expenses for short- payments not term leases and leases of low- included in the Interest expenses on lease Rent paid Increase in right-of-use assets value assets under simplified measurement of liabilities borne Type of treatment (if applicable) lease liabilities (if Name of Name of Lessor Leased applicable) Lessee Assets Amounts Amoun Amount Amount for incurred Amount in t for the Amount for Amount for Amount for Amount for Amount for for the the prior during the prior period prior the year the prior year the year the year the prior year year year period year Electronics Co. Heat Pump dormitories Ltd.Chengdu Ground Factory Changhong Energy building 1542000.00 Minsheng Heat Pump leases Logistics Co. Ltd.Intelligent Sichuan Jiahong Air 201596.52 88304.15 Industrial Co. Ltd.Conditioner Sichuan Factory Mianyang Changhong building 66583.48 97312.98 2270742.89 2132911.64 888429.51 1067896.18 586216.98 48252806.05 Meiling Electric Co. Ltd. leases Sichuan Jiahong Mianyang Staff 32111.9331379.40 Industrial Co. Ltd. Meiling dormitories Chengdu Hongmei Changhong Offices 213801.31 658462.06 9616.78 32923.10 1050743.08 658462.06 Intelligent Electronic 38 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2025 to December 31 2025 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Variable lease Rental expenses for short- payments not term leases and leases of low- included in the Interest expenses on lease Rent paid Increase in right-of-use assets value assets under simplified measurement of liabilities borne Type of treatment (if applicable) lease liabilities (if Name of Name of Lessor Leased applicable) Lessee Assets Amounts Amoun Amount Amount for incurred Amount in t for the Amount for Amount for Amount for Amount for Amount for for the the prior during the prior period prior the year the prior year the year the year the prior year year year period year Technology Co.Ltd.Sichuan Hongmei Changhong Offices 123961.75 128587.13 38273.41 11572.84 746115.01 Intelligent Electric Co. Ltd.Total 2794014.24 1132473.95 13068062.59 3414934.87 1557367.76 1153722.08 3433015.04 50033605.18 38 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) 6. Related Party Guarantees Maximum Whether Guaranteed Guaranteed Commencem Maturit guarantee Guarantor Party Amount ent Date y date has been (RMB 10000) fulfilled Guarantees: Changhong 2025- Meiling Group 20000.00 2024-10-16 Yes Meiling 10-15 Changhong 2026-6- Meiling Group 40000.00 2025-6-3 No Meiling 2 Changhong 2026-8- Meiling Group 10000.00 2025-8-6 No Meiling 5 Changhong 2026-8- Meiling Group 20000.00 2025-8-11 No Meiling 10 Changhong Hefei 2026-3- 3000.00 2025-4-23 No Meiling Industrial 24 Changhong Hefei 2026-5- 3514.40 2025-5-26 No Meiling Industrial 26 Changhong Hefei 2026-4- 5000.00 2025-4-27 No Meiling Industrial 27 Changhong Hefei 2026- 5060.74 2025-12-23 No Meiling Industrial 12-22 Changhong Hefei 2026- 3000.00 2025-12-22 No Meiling Industrial 10-24 Changhong Meiling Life 2025-1- 8000.00 2024-1-22 Yes Meiling Appliances 22 Zhongke Tuoxing 2025-6- 1000.00 2024-7-24 Yes Meiling Technology 17 Zhongke Tuoxing 2026-2- 1000.00 2025-2-14 No Meiling Technology 14 Zhongke Ling’an 2025- 1000.00 2024-10-31 Yes Meiling Medical 10-30 Zhongke Ling’an 2026-2- 1000.00 2025-2-11 No Meiling Medical 11 Counter- 38 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Maximum Whether Guaranteed Guaranteed Commencem Maturit guarantee Guarantor Party Amount ent Date y date has been (RMB 10000) fulfilled guarantees: Changhong 2025- Meiling Group 20000.00 2024-10-16 Yes Meiling 10-15 Changhong 2026-6- Meiling Group 40000.00 2025-6-3 No Meiling 2 Changhong 2026-8- Meiling Group 10000.00 2025-8-6 No Meiling 5 Changhong 2026-8- Meiling Group 20000.00 2025-8-11 No Meiling 10 Hefei Changhong 2026-3- 3000.00 2025-4-23 No Industrial Meiling 24 Hefei Changhong 2026-5- 3514.40 2025-5-26 No Industrial Meiling 26 Hefei Changhong 2026-4- 5000.00 2025-4-27 No Industrial Meiling 27 Hefei Changhong 2026- 5060.74 2025-12-23 No Industrial Meiling 12-22 Hefei Changhong 2026- 3000.00 2025-12-22 No Industrial Meiling 10-24 Meiling Life Changhong 2025-1- 8000.00 2024-1-22 Yes Appliances Meiling 22 Tuoxing Zhongke 2025-6- 1000.00 2024-7-24 Yes Technology Meiling 17 Tuoxing Zhongke 2026-2- 1000.00 2025-2-14 No Technology Meiling 14 Ling’an Zhongke 2025- 1000.00 2024-10-31 Yes Medical Meiling 10-30 Ling’an Zhongke 2026-2- 1000.00 2025-2-11 No Medical Meiling 11 7. Transfer of Assets and Debt Restructuring with Related Parties 38 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amounts incurred Amount in Related party Transaction Type during the prior period period Acquisition and Sichuan Changhong Jiahua Information construction of fixed 7374336.29 Products Co. Ltd.assets Acquisition and Sichuan Changhong Intelligent construction of fixed 4552977.12 352395.49 Manufacturing Technology Co. Ltd.assets Acquisition and Sichuan Hongxin Software Co. Ltd. construction of fixed 1255782.69 1551878.45 assets Acquisition and Sichuan Changhong Hongwei construction of fixed 265486.73 281000.00 Technology Co. Ltd.assets Acquisition and Sichuan Changhong Xinwang construction of fixed 17072.02 Technology Co. Ltd.assets Acquisition and Sichuan Changhong Electric Co. Ltd. construction of fixed 28600.00 952598.21 assets Acquisition and Sichuan Qiruike Technology Co. Ltd. construction of fixed 146900.00 assets Sichuan Zhiyijia Network Technology Purchase of fixed 35020.3678818.00 Co. Ltd. assets Guangdong Changhong Electronics Purchase of fixed 3982.30 Co. Ltd. assets Purchase of fixed 081 Electronic Group Co. Ltd. 184634.57 assets Purchase of intangible Sichuan Hongxin Software Co. Ltd. 1884056.60 679245.28 assets Sichuan Changhong Electronics Purchase of intangible 479200.75 Holding Group Co. Ltd. assets Sichuan Aichuang Technology Co.Sale of fixed assets 663000.00 Ltd.Sichuan Changhong Electric Co. Ltd. Sale of fixed assets 1761621.34 38 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amounts incurred Amount in Related party Transaction Type during the prior period period Sichuan Qiruike Technology Co. Ltd. Sale of fixed assets 359033.63 Guangyuan Changhong Electronic Sale of fixed assets 83599.99 Technology Co. Ltd.Sichuan Changhong Mold Plastic Tech.Sale of fixed assets 58103.56 Co. Ltd.Sichuan Changhong Kuaiyidian Sale of fixed assets 14493.81 Electric Service Co. Ltd.Total 16559514.86 6504322.33 8. Other Related Party Transactions Amount for the Transaction Amount for the prior Name of Company period (RMB Content period (RMB 10000) 10000) Yuanxin Financial Bill financing 328283.07149852.72 Leasing Co. Ltd. business 9. Related Party Transactions with Sichuan Changhong Group Finance Co. Ltd. (1) Deposit Balance Interest income on Name of Company Ending balance Beginning balance deposits for the period Changhong Meiling Co. Ltd. 1800222081.51 1415028147.56 16060076.27 Sichuan Changhong Air Conditioner 921302205.301255972933.7017985585.55 Co. Ltd.Zhongshan Changhong Electric Co. 963832693.041283231387.7212790273.92 Ltd.Hefei Changhong Meiling Life 147032697.76240741317.892499303.61 Appliances Co. Ltd.Hongyuan Ground Energy Heat Pump 325832400.65169736029.924333135.34 Technology (Zhongshan) Co. Ltd.Zhongke Meiling Cryogenic 72624535.2580025044.46472443.85 Technology Co. Ltd. 38 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Interest income on Name of Company Ending balance Beginning balance deposits for the period Changhong Meiling Ridian Technology 49558322.7780215052.07312751.82 Co. Ltd.Anhui Ling’an Medical Equipment Co. 10042685.682991432.99137414.89 Ltd.Anhui Tuoxing Technology Co. Ltd. 7330489.41 7364529.96 107861.08 Hefei Changhong Industrial Co. Ltd. 5726864.56 33061349.30 210111.82 Hefei Meiling Group Holdings Limited 3128350.90 498534.27 25440.66 Mianyang Meiling Refrigeration Co. 197770.4814082.62100.2 Ltd.Hongyuan Ground Energy Heat Pump 119495.41121806.90 Technology Co. Ltd.Jiangxi Meiling Electric Appliance Co. 6888.959230.5028.05 Ltd.Sichuan Changhong Intelligent Air 19585.81 Conditioner Technology Co. Ltd.Total 4306957481.67 4568889072.96 55075919.77 (2) Bill Discounting Amount of bill Amount of Name of Company Face value discounting discounting expenses Sichuan Changhong Intelligent Air 615611249.42609819505.995791743.43 Conditioner Technology Co. Ltd.Changhong Meiling Co. Ltd. 563667857.31 561277270.43 2390586.88 Sichuan Changhong Air Conditioner 504107101.71502022270.452084831.26 Co. Ltd.Hefei Changhong Meiling Life 151017959.37150228646.35789313.02 Appliances Co. Ltd.Hongyuan Ground Energy Heat Pump 25428884.6625273221.07155663.59 Technology (Zhongshan) Co. Ltd.Zhongshan Changhong Electric Co. 17486900.1317366727.47120172.66 Ltd.Total 1877319952.60 1865987641.76 11332310.84 39 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (3) Issuance of Bills Name of Company Drawer Bill amount Type of bill Sichuan Changhong Air Sichuan Changhong Group Finance company 553985333.64 Conditioner Co. Ltd. Finance Co. Ltd. acceptances Zhongshan Changhong Sichuan Changhong Group Finance company 364438001.39 Electric Co. Ltd. Finance Co. Ltd. acceptances Hongyuan Ground Energy Sichuan Changhong Group Finance company Heat Pump Technology 148666188.57 Finance Co. Ltd. acceptances (Zhongshan) Co. Ltd.Sichuan Changhong Group Finance company Changhong Meiling Co. Ltd. 96827683.79 Finance Co. Ltd. acceptances Sichuan Changhong Intelligent Sichuan Changhong Group Finance company Air Conditioner Technology 95930112.60 Finance Co. Ltd. acceptances Co. Ltd.Hefei Changhong Meiling Life Sichuan Changhong Group Finance company 88984854.27 Appliances Co. Ltd. Finance Co. Ltd. acceptances Hefei Meiling Group Holdings Sichuan Changhong Group Finance company 60819797.50 Limited Finance Co. Ltd. acceptances Zhongke Meiling Cryogenic Sichuan Changhong Group Finance company 29598610.40 Technology Co. Ltd. Finance Co. Ltd. acceptances Changhong Meiling Ridian Sichuan Changhong Group Finance company 3749815.95 Technology Co. Ltd. Finance Co. Ltd. acceptances Anhui Ling’an Medical Sichuan Changhong Group Finance company 706726.58 Equipment Co. Ltd. Finance Co. Ltd. acceptances Total 1443707124.69 (4) Credit Granting or Other Financial Businesses Amounts incurred Name of Company Transaction Content during the period Sichuan Changhong Air Conditioner Co. Ltd. Letters of guarantee 182592.00 Total 182592.00 10. Remuneration of Key Management Personnel 39 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Amount for the Amount for the Items period (RMB same period of last 10000) year (RMB 10000) Remuneration of key management personnel 565.78 920.64 (III) Balances with Related Parties 1. Receivables Ending balance Beginning balance Item Related party Provision for Provision for Carrying balance Carrying balance bad debts bad debts Accounts CHANGHONG(HK) 354408001.0610430299.25124276627.62 receivable TRADING LIMITED Changhong International Accounts Holdings (Hong Kong) 220241915.24 5449423.76 90937385.97 5052875.52 receivable Co. Ltd.Accounts Sichuan Zhiyijia Network 136261270.1172782912.81128220885.0483477192.59 receivable Technology Co. Ltd.Accounts CHANGHONGELECTRI( 131596495.7374487210.9439350.40 receivable AUSTRALIA)PTY.LTD.Accounts Changhong Europe 44195393.312558625.1742995.83 receivable Electric s.r.o Accounts Changhong Ruba Electric 40618727.5940618727.5941322357.7341322357.73 receivable Company (Private) Ltd.Accounts Guangdong Changhong 4881144.10 receivable Electronics Co. Ltd.Accounts Sichuan Changhong 2572409.56729165.87 receivable Electric Co. Ltd.Accounts Mianyang Huafeng Hulian 2071072.009218144.00 receivable Technology Co. Ltd.Accounts Sichuan Huafeng 1937933.12 receivable Technology Co. Ltd.Sichuan Changhong New Accounts Energy Technology Co. 916500.00 receivable Ltd.Accounts Sichuan Aichuang 282348.12402121.61 receivable Technology Co. Ltd.Accounts Yuanxin Financial Leasing 174719.07381503.00 receivable Co. Ltd. 39 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Ending balance Beginning balance Item Related party Provision for Provision for Carrying balance Carrying balance bad debts bad debts Sichuan Changhong Accounts Jiechuang Lithium Battery 153000.00 receivable Technology Co. Ltd.Sichuan Changhong Accounts Kuaiyidian Electric 138518.63 323007.09 receivable Service Co. Ltd.Accounts Sichuan Ailian 26533.40 receivable Technology Co. Ltd.Sichuan Changhong Accounts Minsheng Logistics Co. 24216.48 2980.00 receivable Ltd.Accounts PT.CHANGHONGELEC 7410.0574.10 receivable TRICINDONESIA Accounts Sichuan Aoku Technology 2088.245618.00 receivable Co. Ltd.Sichuan Changhong Accounts Xinwang Technology Co. 0.01 receivable Ltd.Accounts Orion.Co.ltd 12279923.14 receivable Accounts Changhong Huayi 380929.13 receivable Compressor Co. Ltd.Accounts Sichuan Changhong Jijia 293742.36 receivable Fine Co. Ltd.Sichuan Changhong Accounts Device Technology Co. 8300.00 receivable Ltd.Prepayment Sichuan Ailian 50889.4950889.49 s Technology Co. Ltd.Prepayment Sichuan Changhong 537.27 s Electric Co. Ltd.Sichuan Changhong Prepayment Minsheng Logistics Co. 248306.00 s Ltd.Chengdu Changhong Prepayment Electronic Technology 345692.58 s Co. Ltd.Sichuan Changhong Other Kuaiyidian Electric 200000.00 570493.29 receivables Service Co. Ltd. 39 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Ending balance Beginning balance Item Related party Provision for Provision for Carrying balance Carrying balance bad debts bad debts Sichuan Changhong Other Minsheng Logistics Co. 112651.56 receivables Ltd.Other Sichuan Zhiyijia Network 85510.00209510.00 receivables Technology Co. Ltd.Other Sichuan Changhong 11880.002904.93 receivables Property Service Co. Ltd.Other Sichuan Jiahong Industrial 10000.0019982.00 receivables Co. Ltd.Sichuan Hongyun New Generation Information Other Technology Venture 2217600.00 receivables Capital Fund Partnership Enterprise (Limited Partnership) Contract Sichuan Aichuang 74919.00 assets Technology Co. Ltd.Contract Sichuan Changhong 36000.00 assets Electric Co. Ltd.Contract Yuanxin Financial Leasing 534886.00 assets Co. Ltd.Total 941092083.14 129281437.51 490028790.96 129934772.07 2. Payables Item Related party Ending balance Beginning balance Accounts Sichuan Changhong Electronics Holding 214031689.32299558983.37 payable Group Co. Ltd.Accounts Changhong Huayi Compressor Co. Ltd. 102692801.26 106340141.35 payable Accounts Sichuan Changhong Mold Plastic Tech. 99931302.92258862002.89 payable Co. Ltd.Accounts Changhong International Holdings (Hong 61243227.3916331072.34 payable Kong) Co. Ltd.Accounts Sichuan Aichuang Technology Co. Ltd. 49074402.30 50559432.86 payable 39 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Item Related party Ending balance Beginning balance Accounts Sichuan Changhong Jijia Fine Co. Ltd. 47430986.76 130536924.54 payable Accounts Sichuan Changxin Refrigeration Parts Co. 31676661.0055712908.20 payable Ltd.Accounts Sichuan Changhong Package Printing Co. 22726924.1837429782.71 payable Ltd.Accounts Zhongshan Guanghong Mold Plastic Tech. 18708190.56 payable Co. Ltd.Accounts Changhong Ruba Electric Company 18432205.8719165511.45 payable (Private) Ltd.Accounts Sichuan Changhong Electric Co. Ltd. 8273422.65 16714312.78 payable Accounts Sichuan Changhong Minsheng Logistics 6344838.143463779.16 payable Co. Ltd.Accounts Sichuan Aoku Technology Co. Ltd. 6338630.53 7036322.79 payable Accounts Sichuan Changhong Electronic Products 2405564.526151227.60 payable Co. Ltd.Accounts Sichuan Changhong Precision Electronic 2193904.287834650.42 payable Technology Co. Ltd.Accounts Guangdong Changhong Electronics Co. 1921335.873006306.65 payable Ltd.Accounts Sichuan Ailian Technology Co. Ltd. 1181397.25 3277511.80 payable Accounts Sichuan Changhong Intelligent 1151891.27239196.58 payable Manufacturing Technology Co. Ltd.Accounts Sichuan Zhiyijia Network Technology Co. 840491.2232784.73 payable Ltd.Accounts Sichuan Changhong Device Technology 835268.94272906.94 payable Co. Ltd.Accounts Sichuan Hongxin Software Co. Ltd. 617000.00 779047.17 payable Accounts Sichuan Changhong Jiahua Information 360619.47 payable Products Co. Ltd.Accounts Sichuan Changhong Kuaiyidian Electric 176040.61 892549.81 39 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Item Related party Ending balance Beginning balance payable Service Co. Ltd.Accounts Sichuan Changhong New Energy 117371.27252981.10 payable Technology Co. Ltd.Accounts Sichuan Changhong International Hotel 75051.00106873.00 payable Co. Ltd.Accounts Sichuan Qiruike Technology Co. Ltd. 32000.00 32000.00 payable Accounts Sichuan Jiahong Industrial Co. Ltd. 10000.00 payable Accounts Sichuan Changhong Hongwei Technology 297860.00 payable Co. Ltd.Accounts Chengdu Guigu Environmental Technology 8247.36 payable Co. Ltd.Contract Sichuan Zhiyijia Network Technology Co. 209427560.6671546849.75 liabilities Ltd.Contract CHANGHONG.ELECTRIC.(AUSTRALIA 1226799.07 liabilities )PTY.LTD.Contract Sichuan Changhong Electric Co. Ltd. 353941.29 354131.55 liabilities Contract Changhong Europe Electric s.r.o 317977.26 liabilities Contract Zhongjiu Flash Medical Technology Co. 263833.10419207.79 liabilities Ltd.Contract Sichuan Baiku Technology Co. Ltd. 16569.91 138472.56 liabilities Contract Sichuan Changhong Minsheng Logistics 13805.3114654.89 liabilities Co. Ltd.Contract Changhong International Holdings (Hong 3082.51427524.59 liabilities Kong) Co. Ltd.Contract Sichuan Changhong Kuaiyidian Electric 42786.17 liabilities Service Co. Ltd.Contract Sichuan Aichuang Technology Co. Ltd. 198900.00 liabilities Contract Sichuan Changhong Gerun Environmental 175023.04 liabilities Protection Technology Co. Ltd. 39 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Item Related party Ending balance Beginning balance Contract CHANGHONG(HK) TRADING LIMITED 922.22 liabilities Lease Sichuan Changhong Electric Co. Ltd. 23246481.35 24991184.60 liabilities Lease Sichuan Changhong Minsheng Logistics 17872489.73 liabilities Co. Ltd.Lease Chengdu Changhong Electronic 836941.77345692.58 liabilities Technology Co. Ltd.Lease Sichuan Changhong Electronics Holding 188111.02 liabilities Group Co. Ltd.Other Sichuan Changhong Minsheng Logistics 233039656.09168320548.19 payables Co. Ltd.Other Sichuan Changhong Kuaiyidian Electric 99922397.20129354211.90 payables Service Co. Ltd.Other Sichuan Zhiyijia Network Technology Co. 15958190.02232021.08 payables Ltd.Other Sichuan Changhong Hongwei Technology 5801306.311262762.78 payables Co. Ltd.Other Sichuan Changhong Electric Co. Ltd. 5782141.71 4455214.28 payables Other Changhong International Holdings (Hong 3540000.00 payables Kong) Co. Ltd.Other Sichuan Changhong Mold Plastic Tech. 2442637.261933572.12 payables Co. Ltd.Other Changhong Huayi Compressor Co. Ltd. 1648900.00 1801167.60 payables Other Sichuan Qiruike Technology Co. Ltd. 1599312.28 826071.35 payables Other Sichuan Changhong Electronics Holding 1565504.802235171.18 payables Group Co. Ltd.Other Sichuan Changhong Jijia Fine Co. Ltd. 446768.90 430500.00 payables Other Sichuan Aichuang Technology Co. Ltd. 213867.93 101132.08 payables Other Sichuan Hongxin Software Co. Ltd. 189245.28 187735.85 39 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Item Related party Ending balance Beginning balance payables Other Sichuan Aoku Technology Co. Ltd. 171592.80 132973.56 payables Other Sichuan Hongran Green Energy Co. Ltd. 140776.79 payables Other Sichuan Jiahong Industrial Co. Ltd. 135367.91 301482.92 payables Other Sichuan Changhong Electronic Products 50000.00100000.00 payables Co. Ltd.Other Sichuan Changhong Package Printing Co. 50000.0050000.00 payables Ltd.Other Sichuan Changhong Precision Electronic 50000.00 payables Technology Co. Ltd.Other Sichuan Changhong Device Technology 50000.00 payables Co. Ltd.Other Sichuan Ailian Technology Co. Ltd. 50000.00 51306.28 payables Other Sichuan Changxin Refrigeration Parts Co. 46702.0357098.03 payables Ltd.Other 081 Electronic Group Co. Ltd. 43131.33 40867.89 payables Other Sichuan Changhong Gerun Environmental 25000.00150000.00 payables Protection Technology Co. Ltd.Other Sichuan Changhong Jiahua Information 20000.00 payables Products Co. Ltd.Other Guangdong Changhong Electronics Co. 13654.7717514.52 payables Ltd.Other Sichuan Changhong Intelligent 34550.00 payables Manufacturing Technology Co. Ltd.Other Chengdu Guigu Environmental Technology 5717.80 payables Co. Ltd.Other Sichuan Changhong International Hotel 849.06 payables Co. Ltd.Total 1325398853.95 1435821246.83 39 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) XIII. Commitments and Contingencies (I) Significant Commitments As of December 31 2025 there were no significant commitments requiring disclosure that had not been disclosed by the Company.(II) Contingencies 1. Contingent Liabilities Arising from Pending Lawsuits and Arbitrations and Their Financial Impact As of December 31 2025 certain subsidiaries of the Company were defendants in certain legal proceedings and plaintiffs in other proceedings arising in the ordinary course of business. Although the outcome of these contingencies legal proceedings or other claims cannot be determined at present the management of the Company believes that any liabilities arising therefrom will not have a material adverse impact on the financial position or operating results of the Company.XIV. Events after the Balance Sheet Date (I) Profit Distribution For the year 2025 the net profit realized in the parent company’s separate financial statements amounted to RMB 489089804.39. As of December 31 2025 the accumulated undistributed profits in the parent company’s separate financial statements amounted to RMB 1314046007.41. In addition for the year 2025 the net profit attributable to owners of the parent company in the consolidated financial statements amounted to RMB 410409936.09.As of December 31 2025 the accumulated undistributed profits under the consolidated financial statements amounted to RMB 1824833314.77.In accordance with relevant regulations the Company’s profit distribution shall be based 39 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) on the distributable profits of the parent company and comply with the principle of distribution based on the lower of the accumulated undistributed profits in the consolidated financial statements and the parent company’s financial statements. Therefore the distributable profits for 2025 were the accumulated undistributed profits of RMB 1314046007.41 in the parent company’s separate financial statements. In accordance with relevant laws and regulations and the Articles of Association taking into account the interests of shareholders and the Company’s long-term development needs it is proposed that: Based on the total share capital as of the record date for the rights issue implementation after deducting the shares held in the repurchase special securities account the Company intends to distribute a cash dividend of RMB 2.10 per 10 shares (tax inclusive) to all shareholders. No bonus shares will be issued and no capital reserve will be converted into share capital. The total cash dividend to be distributed is expected not to exceed RMB 211831650.45... Following this profit distribution the remaining undistributed profits of the parent company are expected to be carried forward to subsequent years for distribution.The aforementioned proposal has been reviewed and adopted at the 28th meeting of the 11th session of the Board of Directors of the Company and is subject to the approval of the shareholders' meeting.XV. Other Significant Matters (I) Segment Information 1. Factors Considered in Determining Reportable Segments The Company determines reportable segments based on its internal organizational structure management requirements and internal reporting system and determines reportable segments on the basis of business segments. The operating results of the refrigerator and 40 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) freezer washing machine air conditioner small household appliance and other product businesses are assessed separately. 2. Financial Information of Reportable Segments Unit: RMB 10000 Refrigerator Small Freezer and Air Less: Inter- Household Items Washing Conditioner Others segment Total Appliance Machine Segment Segment offset Segment Operating Revenue 1112873.26 1762084.39 164619.51 41686.73 -40471.24 3040792.65 Including: Revenue from external 1099445.44 1759222.48 145046.12 37078.61 3040792.65 transactions Revenue from inter-segment 13427.82 2861.91 19573.39 4608.12 -40471.24 transactions Operating expenses 1118463.75 1737342.03 161856.29 40202.53 -40686.00 3017178.59 Other income and expense 32424.22 13300.18 584.94 714.06 -15895.79 31127.61 items Total profit 26833.73 38042.54 3348.16 2198.27 -15681.03 54741.67 Total assets 1459096.43 890418.52 80026.08 19514.90 -231603.65 2217452.29 Total liabilities 927901.15 669335.36 60583.43 6333.71 -87462.08 1576691.57 Supplementar y information Depreciation and amortization 25076.97 20163.63 305.89 1745.83 -168.31 47124.00 expenses Capital expenditures 16904.52 10105.28 4.04 154.68 27168.52 Note: Total assets exclude deferred tax assets and total liabilities exclude deferred tax liabilities (II) Other Important Transactions and Events Affecting Investors’ Decisions 40 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) 1. Stock Repurchase On May 8 2025 the Company held the 15th meeting of the 11th session of the Board of Directors at which the Proposal on the Plan for Repurchase of A-Shares of the Company was reviewed and adopted. The Company approved the repurchase of some A-shares through centralized competitive bidding using its own funds of no less than RMB 150 million (inclusive) and no more than RMB 300 million (inclusive) for the implementation of equity incentive plans with the repurchase price not exceeding RMB 11 per share.On June 3 2025 the Company held the 17th meeting of the 11th session of the Board of Directors at which the Proposal on Adding Sources of Funds for the Repurchase of A-Shares of the Company was reviewed and adopted. The Company approved expanding the source of funds for such A-share repurchase from own funds to own funds and self-raised funds (including special bank loans for share repurchase etc.).In connection with the Company’s 2024 annual equity distribution the upper limit of the A-share repurchase price was adjusted from RMB 11 per share to RMB 10.67 per share.As of December 31 2025 the Company had repurchased 12487901 A-shares through the special securities account for share repurchase via centralized competitive bidding accounting for 1.2125% of the total share capital of the Company. The highest transaction price was RMB 7.45 per share the lowest transaction price was RMB 6.48 per share and the total transaction amount was RMB 86952028.10 (excluding transaction fees) XVI. Notes to Main Items of the Parent Company’s Financial Statements (I) Notes to Items of the Parent Company’s Balance Sheet 1. Accounts Receivable (1) Aging Analysis Aging Ending balance Beginning balance Within 1 year (inclusive) 1529350496.57 844020537.28 Including: Within 3 months 1313492365.88 804602070.05 3 - 6 months 204103561.32 37341630.48 40 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Aging Ending balance Beginning balance 6 months - 1 year 11754569.37 2076836.75 1-2 years 36679702.11 967919.29 2-3 years 186265.99 6068876.14 Over 3 years 50597093.22 46551037.50 Total 1616813557.89 897608370.21 (2) Provision for Bad Debts 1) Details by Category Ending balance Carrying balance Provision for bad debts Category Provision Carrying value Proportion Amount Amount (%) Proportion (%) Provision made 1328484858.7882.1757350338.384.321271134520.40 individually Including: Receivables with 23449204.391.4523449204.39 letters of credit Related party 1288234147.1279.6840548831.113.151247685316.01 balances Receivables with individually made provision 16801507.271.0416801507.27100.00 despite immaterial individual amounts Provision made on a 288328699.1117.835421882.721.88282906816.39 portfolio basis Including: Receivables from non-engineering 288328699.11 17.83 5421882.72 1.88 282906816.39 customers Total 1616813557.89 100.00 62772221.10 3.88 1554041336.79 (Continued) Beginning balance Category Carrying balance Provision for bad debts Carrying value 40 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Provision Proportion Amount Amount (%) Proportion (%) Provision made individually 550963154.98 61.38 57852034.98 10.50 493111120.00 Including: Receivables with 24607781.542.7424607781.54 letters of credit Related party 506527455.8356.4340131974.457.92466395481.38 balances Receivables with individually made provision 19827917.612.2117720060.5389.372107857.08 despite immaterial individual amounts Provision made on a 346645215.2338.626520449.241.88340124765.99 portfolio basis Including: Receivables from 346645215.2338.626520449.241.88340124765.99 non-engineering customers Total 897608370.21 100.00 64372484.22 7.17 833235885.99 2) Accounts receivable with provision for bad debts made on a portfolio basis Ending balance Aging Provision for Provision ratio Carrying balance bad debts (%) Within 3 months (inclusive; the 273005932.142730059.321.00 same below) 3 - 6 months 5694801.79 569480.18 10.00 6 months - 1 year 9382027.45 1876405.49 20.00 1-2 years 2-3 years Over 3 years 245937.73 245937.73 100.00 Subtotal 288328699.11 5421882.72 1.88 (Continued) Beginning balance Aging Provision for Provision ratio Carrying balance bad debts (%) 40 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Beginning balance Aging Provision for Provision ratio Carrying balance bad debts (%) Within 3 months (inclusive; the 341176281.763411762.821.00 same below) 3 - 6 months 342770.62 34277.06 10.00 6 months - 1 year 2076836.75 415367.35 20.00 1-2 years 780567.95 390283.98 50.00 2-3 years 0.60 0.48 80.00 Over 3 years 2268757.55 2268757.55 100.00 Subtotal 346645215.23 6520449.24 1.88 (3) Changes in Provision for Bad Debts 1) Details Changes during the period Beginning Items Ending balance balance Recovery or Write- Provision Others reversal off Provision 57852034.981248487.441750184.0457350338.38 made individually Provision made on a 6520449.24 -1098566.52 5421882.72 portfolio basis 64372484.22149920.921750184.0462772221.10 Total (4) Top 5 Accounts Receivable and Contract Assets by Balance The aggregate amount of the top five accounts receivable and contract assets by balance at the end of the period amounted to RMB 1259867331.10 accounting for 77.92% of the total ending balance of accounts receivable and contract assets with the corresponding aggregate ending balance of provision for bad debts amounting to RMB 2350090.96. 2. Other Receivables (1) Details 40 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Items Ending balance Beginning balance Dividends receivable 12124951.70 51935773.67 Other receivables 137057080.76 51935773.67 Total 149182032.46 (2) Dividends Receivable Details Items Ending balance Beginning balance Sichuan Zhiyijia Network Technology Co. Ltd. 11849751.70 Sichuan Hongyun New Generation Information Technology Venture Capital Fund Partnership 275200.00 Enterprise (Limited Partnership) Subtotal 12124951.70 (3) Other Receivables 1) Classification by Nature of Funds Nature of funds Ending balance Beginning balance 5538070.115755189.42 Staff imprest loans 4708287.944369898.32 Deposits 14390254.2595274068.20 Export tax rebates 27955695.3231839049.68 Related party balances 353890.67473034.34 Others 52946198.29137711239.96 Total 2) Aging Analysis Aging Ending balance Beginning balance Within 3 months (inclusive; the same below) 17939365.50 105115890.25 3 - 6 months 673823.08 370007.17 6 months - 1 year 1089947.00 971808.01 1-2 years 2456425.93 1486879.41 40 6Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Aging Ending balance Beginning balance 2-3 years 1357908.14 313350.00 Over 3 years 29428728.64 29453305.12 Total 52946198.29 137711239.96 3) Provision for Bad Debts * Details by category Ending balance Carrying balance Provision for bad debts Category Provision Carrying value Proportion Amount Amount (%) Proportion (%) Provision made individually 52946198.29 100.00 1010424.62 1.91 51935773.67 Including: Other receivables with individually made 10600248.7220.021010424.629.539589824.10 provision despite immaterial individual amounts Export tax rebates 14390254.2527.1814390254.25 receivable Other receivables from related parties under common 27955695.3252.8027955695.32 control or with significant influence Provision made on a portfolio basis Subtotal 52946198.29 100.00 1010424.62 1.91 51935773.67 (Continued) Beginning balance Carrying balance Provision for bad debts Category Provision Carrying value Proportion Amount Amount (%) Proportion (%) Provision made individually 137711239.96 100.00 654159.20 0.48 137057080.76 Including: Other receivables with 10598122.08 7.70 654159.20 6.17 9943962.88 individually made provision 40 7Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Beginning balance Carrying balance Provision for bad debts Category Provision Carrying value Proportion Amount Amount (%) Proportion (%) despite immaterial individual amounts Export tax rebates 95274068.2069.1895274068.20 receivable Other receivables from related parties under common 31839049.6823.1231839049.68 control or with significant influence Provision made on a portfolio basis Subtotal 137711239.96 100.00 654159.20 0.48 137057080.76 4) Changes in Provision for Bad Debts * Details Stage 1 Stage 2 Stage 3 Expected credit Expected credit Expected credit loss for the Items loss for the next loss for the entire entire period Subtotal 12 months period (no credit (credit impairment impairment incurred) incurred) Beginning balance 654159.20 654159.20 Movement of beginning balance —— —— —— during the period --Transfer to Stage --Transfer to Stage --Reversal to Stage 2 --Reversal to 40 8Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Stage 1 Stage 2 Stage 3 Expected credit Expected credit Expected credit loss for the Items loss for the next loss for the entire entire period Subtotal 12 months period (no credit (credit impairment impairment incurred) incurred) Stage 1 Provision made 356265.42356265.42 during the period Recovery or reversal during the period Write-off during the period Other changes Ending balance 1010424.62 1010424.62 * Provision recovery or reversal of bad debts for other receivables during the period Changes during the period Beginning Category Ending balance Recovery or Write-off or balance Provision Others reversal derecognition Provision made 654159.20 356265.42 1010424.62 individually Total 654159.20 356265.42 1010424.62 5) Top 5 Other Receivables by Balance Carrying Percentage Provision for Name of amount at the of other bad debts at Nature of funds Aging Entity end of the receivables the end of the period balance (%) period Meiling Inkit Home Appliances Related party balances 26534998.56 Over 6 months 50.12 (Hefei) Co. Ltd. 40 9Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Carrying Percentage Provision for Name of amount at the of other bad debts at Nature of funds Aging Entity end of the receivables the end of the period balance (%) period Provincial Within 3 Taxation Tax rebates receivable 14390254.25 27.18 months Bureau Hefei Changhong Meiling Within 3 Related party balances 1173114.32 2.22 Home months Appliances Co. Ltd.Staff imprests Within 3 He Xiaowen 1019237.45 1.93 receivable months Zhang Staff imprests Within 6 637978.18 1.20 Quanyu receivable months Subtotal 43755582.76 82.65 3. Long-term Equity Investments (1) Details Ending balance Items Provision for Carrying balance Carrying value impairment 2077985053.012077985053.01 Investments in subsidiaries Investments in associates and 82396838.10 82396838.10 joint ventures 2160381891.11 Total 2160381891.11 (Continued) Beginning balance Items Provision for Carrying balance Carrying value impairment Investments in subsidiaries 1988985053.01 1988985053.01 Investments in associates and 74340161.06 74340161.06 joint ventures Total 2063325214.07 2063325214.07 41 0Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) (2) Investments in Subsidiaries Beginning balance Changes during the period Provi sion Provi for Additional Disposal of Investee Carrying value sion impai investment investment Othefor rmen rs impait rment Zhongke Meiling Cryogenic Technology 42652000.00 Co. Ltd.Mianyang Meiling 95000000.00 Refrigeration Co. Ltd.Zhongshan Changhong 304856419.37 Electric Co. Ltd.Sichuan Changhong Air 955600437.79 Conditioner Co. Ltd.Hefei Meiling Group 113630000.00 Holdings Limited Jiangxi Meiling Electric 79000000.00 Appliance Co. Ltd.Changhong Meiling Ridian Technology Co. 91082111.12 Ltd.Hefei Meiling IoT 10000000.00 Technology Co. Ltd. 10000000.00 CH-Meiling. International 6889100.00 (Philippines) Inc.Hefei Changhong Meiling 35000000.00 Life Appliances Co. Ltd.Sichuan Hongmei Intelligent Technology 22725052.60 Co. Ltd.Hefei Changhong Industrial Co. Ltd. 232549932.13 Mianyang Changhong Smart Home Appliances 99000000.00 Co. Ltd.Subtotal 1988985053.0199000000.0010000000.00 (Continued) 41 1Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Ending balance Investee Provision for Carrying value impairment Zhongke Meiling Cryogenic Technology Co. Ltd. 42652000.00 Mianyang Meiling Refrigeration Co. Ltd. 95000000.00 Zhongshan Changhong Electric Co. Ltd. 304856419.37 Sichuan Changhong Air Conditioner Co. Ltd. 955600437.79 Hefei Meiling Group Holdings Limited 113630000.00 Jiangxi Meiling Electric Appliance Co. Ltd. 79000000.00 Changhong Meiling Ridian Technology Co. Ltd. 91082111.12 Hefei Meiling IoT Technology Co. Ltd.CH-Meiling. International (Philippines) Inc. 6889100.00 Hefei Changhong Meiling Life Appliances Co. Ltd. 35000000.00 Sichuan Hongmei Intelligent Technology Co. Ltd. 22725052.60 Hefei Changhong Industrial Co. Ltd. 232549932.13 Mianyang Changhong Smart Home Appliances Co.Ltd. 99000000.00 Subtotal 2077985053.01 (3) Investments in Associates Beginning balance Changes during the period Investment Adjustment Provisi Additi to other Investee income on for onal Disposal of Carrying value recognized comprehen impair invest investment under equity sive income ment ment method Hefei Xingmei Asset Management Co. 14164491.99 81757.02 Ltd.Sichuan Zhiyijia Network Technology 60175669.07 8649710.97 Co. Ltd.Total 74340161.06 8731467.99 (Continued) 41 2Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Changes during the period Ending balance Declaration of Provisio Provision Investee Other changes cash dividends n for for Others Carrying value in equity or profit impairm impairmen distributions ent t Hefei Xingmei Asset 14246249.01 Management Co. Ltd.Sichuan Zhiyijia Network Technology 674790.95 68150589.09 Co. Ltd.Total 674790.95 82396838.10 (II) Notes to Items of the Parent Company’s Income Statement 1. Operating Revenue / Operating Costs (1) Details Current period amount Corresponding prior period amount Items Revenue Costs Revenue Costs Revenue from principal operations 9200413816.16 8130506104.59 9743416487.41 8916334488.72 Revenue from other operations 612596962.13 555844379.94 589138389.17 534700358.27 Total 9813010778.29 8686350484.53 10332554876.58 9451034846.99 (2) Breakdown of Revenue Current period amount Corresponding prior period amount Items Revenue Costs Revenue Costs By product type: Including: Air conditioners 17463528.30 17462727.23 3447265.49 3447282.04 Refrigerators (freezers) 6844833801.07 6107198038.19 7786693499.05 7182764867.61 Washing machines 2120335832.35 1810789067.77 1722549267.91 1529070147.07 Kitchen and bathroom products 217780654.44 195056271.40 230726454.96 201052192.00 and small 41 3Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Current period amount Corresponding prior period amount Items Revenue Costs Revenue Costs household appliances Others 612596962.13 555844379.94 589138389.17 534700358.27 By operating region: Including: Domestic 5533488539.88 5016753104.24 5675953763.65 5366965328.84 Overseas 4279522238.41 3669597380.29 4656601112.93 4084069518.15 Subtotal 9813010778.29 8686350484.53 10332554876.58 9451034846.99 2. Investment Income Current period Corresponding Items amount prior period amount Income from long-term equity investments 8731467.998398963.65 accounted for under the equity method Income from long-term equity investments 145358092.4332784230.13 accounted for under the cost method Investment income from disposal of long-term 17305424.17 equity investments Investment income from disposal of tradable 26270419.3118233784.22 financial assets 41 4Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Investment income from disposal of derivative -10025027.98-8333541.14 financial assets Interest income from debt investments held during 27745777.7920153596.85 the period Investment income from other non-current financial 15690242.5214911850.55 assets held during the period Gains on derecognition of financial assets measured -4865452.40-9688921.63 at amortized cost Total 226210943.83 76459962.63 XVII. Other Supplementary Information (I) Non-recurring Gains and Losses 1. Schedule of Non-Recurring Gains and Losses (1) Details Items Amount Description Gains or losses on disposal of non-current assets including the reversal of previously recognized asset impairment provisions -8229538.39 Government grants recognized in profit or loss for the current period excluding those closely related to the Company’s normal operations in compliance with national policies enjoyed according 85607843.51 to fixed standards and having a sustained impact on the Company’s profit or loss Debt restructuring income 95400.74 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 liabilities other than -5830767.37 effective hedging activities related to the Company’s normal operations Reversal of impairment provisions for receivables tested for impairment individually 14293005.32 Other non-operating income and expenses other than the above items 4977507.67 Subtotal 90913451.48 Less: Effect of enterprise income tax (reduction in income tax is indicated by “?”) 11866427.43 41 5Notes to the Financial Statements of Changhong Meiling Co. Ltd. For the period from January 1 2024 to December 31 2024 (Unless otherwise specified all items in these notes to the financial statements are presented in RMB.) Items Amount Description Effect of minority interests (after tax) 6039452.87 Net non-recurring gains and losses attributable to owners of the parent company 73007571.18 (II) Return on Net Assets and Earnings per Share Weighted average return Earnings per share (yuan/share) Profit for the reporting period on net assets (%) Basic earnings per Diluted earnings per share share Net profit attributable to ordinary 6.720.39960.3996 shareholders of the Company Net profit attributable to ordinary shareholders of the Company after 5.520.32860.3286 deducting non-recurring gains and losses Changhong Meiling Co. Ltd.April 3 2026 416