Changhong Meiling Co. Ltd.2026 Semi-Annual Report
August 2026Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.Section I Important Notice Contents and Interpretation
The Board of Directors all directors and senior executives of the Company warrant that the
contents of this semi-annual report are true accurate and complete contain no false records
misleading statements or material omissions and assume individual and joint and several legal
liability.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 Warrant that the financial report contained in this semi-annual report is true accurate
and complete.All Directors attended the Board meeting for reviewing this semi-annual report through a
combination of in-person attendance and remote participation.Modified audit opinions notes
□ Applicable √ Not applicable
Risk warning regarding forward-looking statements relating to future plans and other matters
in the semi-annual report
√ Applicable □ Not applicable
This semi-annual report contains forward-looking statements regarding future plans and
other matters. Such statements do not constitute substantive commitments by the Company to
investors. Investors and relevant parties should maintain sufficient awareness of the associated
risks and understand the differences between plans forecasts and commitments. Investors are
advised to pay attention to investment risks.Investors are advised to carefully read the full text of this semi-annual report and pay
particular attention to the following risk factors:
Under “X. Risks Faced by the Company and Countermeasures” in Section III “ManagementDiscussion and Analysis” of this report the Company has provided a detailed description of
potential operational risks and corresponding measures. Investors are advised to review the
relevant contents.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.
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Does the Company need to comply with disclosure requirements of the special industry: No
Semi-annual profit distribution proposal or proposal for conversion of capital reserves into
share capital reviewed by the Board of Directors during the reporting period
□ Applicable √ Not applicable
The Company plans not to distribute cash dividends issue bonus shares or increase share
capital by transferring capital reserves.The directors and senior executives of the Company have separately signed written
confirmations regarding the Company’s 2026 Semi-Annual Report.
2Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Contents
Section I Important Notice Contents and Interpreta... 1
Section II Company Profile and Main Financial Inde... 7
I. Company profile .................................. 7
II. Person/Way to Contact ........................... 7
III. Other Matters ...................................7
(IV) Main accounting data and financial indexes ..... 8
V.Accounting Data Difference under Domestic and Foreign Accounting Standards 9
VI. Items and Amounts of Non-recurring Gains and L... 9
3Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Documents Available for Reference
I. Financial statements bearing the signatures of the Company’s Chairman the person
responsible for accounting affairs and the head of the accounting department (accounting
supervisor) and affixed with the Company’s seal;
II. Original documents of the Company and manuscripts of public notices that disclosed in
the website designated by CSRC in the reporting period.
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Definition
Terms to be defined Refers to Definition
Company The Company Changhong Meiling
Refers to Changhong Meiling Co. Ltd.or Meiling Electric
Sichuan Changhong or controlling shareholder Refers to Sichuan Changhong Electric Co. Ltd.Sichuan Changhong Electronics Holding
Changhong Group Refers to
Group Co. Ltd.Hong Kong Changhong Refers to CHANGHONG (HK) TRADING LIMITED
Hefei Industry Investment Holding (Group)
Industry Investment Group Refers to
Co. Ltd.Meiling Group Refers to Hefei Meiling Group Holdings Limited
Changhong Air Conditioner Refers to Sichuan Changhong Air Conditioner Co. Ltd.Zhongshan Changhong Refers to Zhongshan Changhong Electric Co. Ltd.Zhongke Meiling Cryogenic Technology Co.Zhongke Meiling Refers to
Ltd.Hefei Changhong Meiling Life Appliances
Meiling Life Appliances Refers to
Co. Ltd.Jiangxi Meiling Refers to Jiangxi Meiling Electric Appliance Co. Ltd.Mianyang Meiling Refers to Mianyang Meiling Refrigeration Co. Ltd.Hefei Industrial Refers to Hefei Changhong Industrial Co. Ltd.Changhong Meiling Ridian Technology Co.Ridian Technology Refers to
Ltd.Mianyang Changhong Smart Home
Smart Home Appliances Refers to
Appliances Co. Ltd.IoT Technology Refers to Hefei Meiling IoT Technology Co. Ltd.Changhong Huayi Refers to Changhong Huayi Compressor Co. Ltd.Sichuan Changhong Group Finance Co.Changhong Finance Company Refers to
Ltd
Sichuan Zhiyijia Network Technology Co.Zhiyijia Company Refers to
Ltd.Pan-China Refers to Pan-China Certified Public Accountants LLP
CSRC Refers to China Securities Regulatory Commission
China Securities Regulatory Commission
Anhui Securities Bureau Refers to
Anhui Province Securities Regulatory Bureau
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SSE Refers to Shenzhen Stock Exchange
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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
Not applicable
changed (if applicable)
Stock exchange for listing Shenzhen Stock Exchange
Name of the Company (in
Changhong Meiling Co. Ltd.Chinese)
Chinese abbreviation (if any) Changhong Meiling
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
II. Person/Way to Contact
Board Secretary Securities Affairs Representative
Name Yang Liuxu Xiao Li
No. 2163 Lianhua Road Economic No. 2163 Lianhua Road Economic
Contact add. and Technological Development and Technological Development
Zone Hefei Zone Hefei
Tel. 0551-62219021 0551-62219021
Fax. 0551-62219021 0551-62219021
E-mail liuxu.yang@meiling.com li.xiao@meiling.com
III. Other Matters
1. Contact information
Whether the Company’s registered address office address and postal code website email
address and other information changed during the reporting period
□ Applicable √ Not applicable
There were no changes to the Company’s registered address office address and postal code
website email address or other relevant information during the reporting period. For details
please refer to the 2025 Annual Report.
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2. Information Disclosure and Storage Location
Whether the locations for information disclosure and report availability changed during the
reporting period
□ Applicable √ Not applicable
There were no changes during the reporting period to the website of the stock exchange and
the names and websites of the media outlets where the Company discloses its semi-annual reports
or to the location where the Company’s semi-annual reports are available. For details please refer
to the 2025 Annual Report.
3. Other Relevant Information
Whether other relevant information changed during the reporting period
□ Applicable √ Not applicable
(IV) Main accounting data and financial indexes
Does it have retroactive adjustment or re-statement on previous accounting data
□Yes √Not applicable
Change compared to the
Reporting period Corresponding prior period
same period of last year
Operating revenue (RMB) 16136185712.66 18071515842.15 -10.71%
Net profit attributable to
shareholders of the listed 57982645.46 417187345.27 -86.10%
company (RMB)
Net profit attributable to
shareholders of the listed
company after deducting -8961122.19 391047124.53 -102.29%
non-recurring gains and
losses (RMB)
Net cash flows generated
from operating activities 323637801.01 1360573661.71 -76.21%
(RMB)
Basic earnings per share
(RMB/share) 0.0574 0.4051 -85.83%
Diluted earnings per share
0.05740.4051-85.83%
(RMB/share)
Weighted average return on Decreased by 5.68
net assets 0.95% 6.63% percentage points
Change compared to end of
End of the reporting period End of last year
last year
Total assets (RMB) 27292583494.04 22302792548.16 22.37%
Net assets attributable to
shareholder of listed 5875541859.07 6083548865.34 -3.42%
company (RMB)
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V. 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
VI. Items and Amounts of Non-recurring Gains and Losses
√ Applicable □ Not applicable
Unit: RMB
Items Amount Instructions
Gains or losses on disposal of
non-current assets (including the See "Asset disposal income"
reversal of previously "Non-operating income" and-24634.31
recognized asset impairment "Non-operating expenses" for
provisions) details
Government grants recognized
in profit or loss for the current
period (excluding those closely
related to the Company’s normal
operations in compliance with 23163413.23 See "Other Income" for details
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 See "Financial Expenses"
financial liabilities held by "Investment Income" and
non-financial enterprises and 42957594.76 "Gains from Changes in Fair
gains or losses from disposal of Value" for details
such assets and liabilities other
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than effective hedging activities
related to the Company’s normal
operations
Reversal of impairment
provisions for receivables tested See "Accounts receivable" for3088385.77
for impairment individually details
Other non-operating income and See "Non-operating Income"
expenses other than the above 12772728.29 and "Non-operating Expense"
items for details
Other gains/losses items that
meets the definition of
non-recurring gains and losses
Less: impact on income tax 13056215.23
Effect of minority interests
(after tax) 1957504.86
Total 66943767.65
Details of other gains/losses items that meets the definition of non-recurring gains and losses:
□ Applicable √ Not applicable
Explain the items defined as recurring gains and losses according to the lists of non-recurring
gains and losses in Q&AAnnouncement No.1 on Information Disclosure for Companies Offering
Their Securities to the Public --- Non-recurring Gains and Losses
□ Applicable √ Not applicable
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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.
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In recent years the Company has won multiple national honors such as the "Smart
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 2026 Meiling M-Fresh Wine Cabinet won the German iF Design Award for its
ultimate aesthetic design and exquisite craftsmanship. Meiling AI Starry Blue Oxygen Washing &
Drying Care Suite claimed the AWE 2026 Applen Award for “Innovation” at the Appliance &
Electronics World Expo (AWE) Shanghai Exhibition. Boasting outstanding performance in
product innovation Meiling M-Fresh Ultra502F Refrigerator was awarded the Anhui New
Product Certificate issued by the Department of Industry and Information Technology of Anhui
Province marking further recognition of the Company’s product innovation and technological
strength. In addition the Company’s Shared Air Conditioner for Living & Dining Room won the
“Premium Supply Product Award” at the China Household Appliance Retail Innovation Summit
thanks to its millimeter-wave radar precision sensing technology while the Living-Dining Cabinet
II received the German “Red Dot Product Design Award” for its glacier aesthetic design and
sophisticated workmanship.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 whitegoods. Looking ahead the Company will adhere to the business policy of “innovation-drivendevelopment resource integration industrial synergy marketing transformation and digitaladvancement” 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
appliance and biomedical equipment businesses with a total revenue reaching RMB 15.996
billion yuan accounting for 99.13% of the Company’s total operating revenue.II. Core Competitiveness Analysis
(I) Brand influence
As a well-known comprehensive white goods manufacturer in China the Company operates
across multiple sectors covering refrigerators (freezers) air conditioners washing machines
major kitchen appliances small household appliances and biomedicine. It features a sound
industrial layout and profound technological accumulation. In 2026 adhering to the brand
proposition of “Bringing Goodness to Life” the Company strove to elevate the brand with
superior products and create corporate value through sustained innovation continuously pushed
forward the high-end and youthful upgrading of the brand and further consolidated its industrial
standing.
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1. Unify the brand visual system and consolidate user perception
In 2026 the Company completed the unified upgrading of omni-channel brand visual
identity and value system created the exclusive IP “Meiling Doll” and established a brand IP
operation system. Breaking the fragmented communication model the Company deeply
integrated brand values into the whole process of operation communication and user interaction
centering on the core positioning of quality intelligence and a better life. Through regular
scenario-based IP operations the Company optimized brand impression improved brand
recognition reputation and user stickiness and laid a solid foundation for the long-term
development of the brand.
2. Implement omni-channel precision communication to continuously boost brand
influence
The Company built an omni-channel communication system featuring online-offline linkage
and empowerment by authoritative media to precisely cover core markets and target consumer
groups. Offline the Company focused on key regions including Sichuan Chongqing and Anhui
and consolidated regional market advantages via advertisements in high-traffic scenarios such as
subways airports and urban commercial plazas. Leveraging the National Museum Refrigerator IP
the Company seized opportunities including the settlement in the National Museum and product
upgrading to create hot topics for brand communication and demonstrate the heritage of a
domestic brand.Online the Company expanded presence on new media platforms such as Douyin (Tik Tok)
and Xiaohongshu (REDnote) and penetrated young consumer groups through content marketing
influencer cooperation and targeted advertising. Meanwhile the Company maintained
connections with authoritative media including China Central Television. The M-Fresh
Refrigerator was featured on CCTV News Network strengthening the brand’s technological
credibility and effectively expanding its public influence.
3. Deepen technological innovation and build differentiated product barriers
Based on consumers’ demands for intelligence freshness and scenario-based experiences the
Company launched a number of flagship products during the reporting period including AI
integrated home appliances AI human-sensing air conditioners AI wine coolers and ultra-low
temperature cold chain equipment covering smart living and professional cold chain scenarios.The product line was continuously extended and the product structure steadily optimized steadily
enhancing the core competitiveness of the brand and injecting momentum into the high-quality
development of the Company.(II) Product capabilityThe Company established a full-chain R&D innovation system of “user research roadmap +
13Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.technology roadmap + product roadmap” forming the three-in-one strategic layout. It enabled
technological innovation driven by user demands and product upgrading led by technological
innovation continuously improved the core competitiveness of products and promoted sound
industrial development. The Company set up an integrated collaborative mechanism covering
sales research production and supply. Team collaboration across all links improved the success
rate of product launch and value contribution throughout product lifecycles. The Company kept
streamlining SKUs freed up market channel and terminal resources and improved product
operation efficiency and capacity to develop key products.Refrigerator (Freezer) Products: Upholding the product planning philosophy of“Attractive Appearance Reliable Quality Competitive Cost Performance and SatisfactoryExperience” the Company systematically optimized its product portfolio focusing on vertical AI
application CMF innovation layout of trending categories and upgrading of fresh-keeping and
odor removal technologies and maintained its leading position in the industry featuring
“freshness slim profile narrow width large capacity and attractive appearance”. The M-Fresh
series 618S/606F/516F models were launched to reinforce the brand’s image in fresh-keeping.Differentiated products including the “High-line Large Freezer 570 Cross Door” under the
“Frozen Fresh 2.0” line the flagship 520 French Door model of “Little Certainty 2.0” series and
the Japanese-style 409 Five-door model were developed to meet demands of segmented markets
in terms of appearance design and functional experience. Meanwhile the Company expanded
trending categories and improved the portfolio of automatic ice-making products to precisely
target high-quality living scenarios. For freezers the Company pressed ahead with technological
upgrading toward full frequency conversion electronic control and air cooling. It developed
“inverter frost-free master” “inverter energy-saving master” and “inverter deep freezer”
improved the full-capacity portfolio of air-cooled chest freezers and strove to optimize product
structure.Air Conditioner Products: Adhering to the “user-oriented” approach and the product
positioning of “Exquisite Craftsmanship Comfort at Every Degree” the Company boosted
product competitiveness based on “AI+” and advanced market-oriented product layout. In the first
half of 2026 the Inspirational Wind Wall-mounted Air Conditioner and Shared Air Conditioner II
Cabinet for Living & Dining Room were launched equipped with AI human sensing technology
(ultra-long detection range 120° wide viewing angle human detection accuracy above 97%).Three intelligent modes including airflow following people airflow avoiding people and soft
airflow when people approach were realized to deliver premium smart experience for users.Equipped with AI Offline Voice 2.0 that supports custom wake-up words the products improved
user interaction experience.Washing Machine Products: By deeply understanding user demands advancing core
technologies and improving product layout in response to industrial trends the Company
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promoted high-quality and sustainable development of the washing machine business. For
front-loading washing machines the AI Starry Series Washer-Dryer Combo was deployed and
the 12KG product line was actively expanded to meet user demand for large-capacity
front-loaders and lift product competitiveness. For top-loading washing machines the Company
expanded 12 KG-20 KG large-capacity products. The Hercules PRO series was developed via
appearance and power upgrades effectively lifting product profitability. For clothes dryers
multiple flat-embedded appearance designs were introduced to enrich the product lineup and new
product breakthroughs were achieved to enhance overall product competitiveness.Kitchen and Small Home Appliances: Supported by product-driven strategy the Company
optimized R&D capacity and product structure in response to market demands focusing on
scenarios including “AI Healthy Kitchen” “Fresh Kitchen” and “Whole-house Water Usage”. For
major kitchen appliances core technologies such as intelligent range hood and stove purification
anti-dry burning intelligent temperature control and integrated embedded design were
continuously upgraded. The Company developed AI visual food recognition dietary large model
health data monitoring and adaptive cooking control systems to deliver full-link intelligent
healthy cooking solutions. The Small Wing Range Hood was launched with optimized air duct
noise reduction technology catering to small-sized homes and open kitchen scenarios.Whole-house water solutions integrate core functions including pre-filtering central water
purification strontium-rich mineralization UV sterilization and graded water supply providing
customized healthy water solutions for multiple scenarios. The AI wine cooler was launched
among small household appliances integrating AI temperature control fresh water purification
and fresh-keeping storage to match high-end consumption needs. In addition the Company
continuously carried out industry-university-research cooperation. The Fresh Water series
maintained leading standards in tea brewing and the brand influence kept rising.Biomedical Products: Focusing on low-temperature storage laboratory equipment and
automation applications the Company drives product upgrades through technological innovation.In the low-temperature storage sector the Company further explored technological directions of
“intelligence energy conservation safety and capacity expansion”. New ultra-low temperature
dual-system products were launched with innovative auto-cascade technology enabling seamless
switch upon faults which significantly improved the safety guarantee of biological samples.Meanwhile products including intelligent variable temperature refrigerators and -40℃ frost-free
low-temperature storage cabinets effectively enhanced storage efficiency and operational safety.In the laboratory equipment sector the Company expanded horizontally the portfolio of biosafety
products centered on biosafety cabinets clean benches and centrifuges to foster new growth
drivers. In the field of automated applications the Company focused on solutions for automated
ultra-low temperature storage and biological sample banks accelerated iteration of core products
and strengthened full-process management capacity covering sample access to intelligent control.
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Meanwhile it expanded storage systems for segmented scenarios and rolled out special solutions
for automated blood storage and biomedical compound storage enriching supplies for clinical
practice new drug R&D and cell therapy and empowering the development of 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 target
management closely following the corporate strategy and business policies the Company built aclosed-loop mechanism of “target setting - process monitoring - deviation correction - resultevaluation” in accordance with the SMART principles to drive continuous improvement of
operating performance. In terms of value chain coordination the Company clarified the rights and
responsibilities of each business unit to stimulate internal vitality. It strengthened coordination
among upstream and downstream industrial chain participants and internal links and established
an integrated and efficient operation mechanism featuring aligned targets connected processes
and co-creation of value. In terms of budget management the Company deepened full closed-loop
management of comprehensive budget throughout the whole process implemented dynamic
budget adjustment and rolling forecast mechanisms and provided accurate and timely financial
support and decision-making basis for resource allocation optimization risk prevention and
achievement of strategic objectives. In terms of performance management the Company further
promoted full-process performance management strengthened performance communication and
feedback effectively guided employees to grow together with the Company fully stimulated
value creation momentum and drove business units to hit operating targets.(IV) Marketing capabilityAdhering to the overall strategy of “Strengthen Products Optimize Channels Attract Usersand Improve Efficiency” the Company boosted organic integration and in-depth cooperation
between online and offline businesses. Online channels serve as the brand highland and traffic
entry while offline channels undertake traffic conversion brand image display and premium
experience delivery to fully leverage product advantages. On the product side the Company
focused on introducing differentiated trending products and boosting sales of structural products.On the channel side it adhered to refined and high-quality categorized operation. On the market
side the Company followed the user-oriented principle strengthened brand operation and
high-quality content development fostered new retail awareness among all staff and lifted retail
conversion capacity. At the same time the Company continuously enhanced service support
capabilities for key customers to consolidate the foundation of cooperation with core clients. It
further pushed forward e-commerce transformation and accelerated the development of overseas
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e-commerce channels. Internal efficiency was continuously improved and management capacity
was strengthened focusing on order delivery capability and operational efficiency enhancement.III. Main Business Analysis
(I) Overview
Whether consistent with the disclosure of main businesses engaged by the Company during
the reporting period
□ Yes √ No
In the first half of 2026 amid intensified competition in the home appliance industry the
Company actively pushed forward the implementation of business plans centering on thebusiness philosophy of “innovation-driven development resource integration industrial synergymarketing transformation and digital and digital & intelligent advancement”. During the
reporting period the Company achieved operating revenue of RMB16.136 billion representing a
year-on-year decrease of 10.71%;Net profit attributable to shareholders of RMB 57.9826 million
representing a year-on-year decrease of 86.10%.In terms of business segments the refrigerator (cabinet) business achieved revenue of
approximately 4.835 billion yuan representing a year-on-year increase of 6.39%; the air
conditioning business achieved revenue of approximately 9.034 billion yuan representing a
year-on-year decrease of 21.95% mainly due to factors such as the weakening effect of national
subsidy policies weakening end-user demand and intensified industry competition which led to
a year-on-year decline in the scale of the air conditioning business in the first half of the year; the
washing machine and other businesses achieved revenue of approximately 1.212 billion yuan
representing a year-on-year increase of 16.55%; the kitchen appliances and small household
appliances business achieved revenue of approximately 760 million yuan representing a
year-on-year increase of 8.70%; the biomedical business achieved revenue of approximately 155
million yuan representing a year-on-year increase of 4.14%.The year-on-year decline in the Company’s performance was jointly affected by the
following factors: Profitability faced periodic pressure due to rising prices of bulk raw materials
such as non-ferrous metals and chemical raw materials as well as increased ocean freight rates.Affected by the continuous adjustment of the real estate market insufficient terminal consumer
demand and extended channel inventory digestion cycle industrial competition intensified the
average product selling price declined and profit margins were further squeezed. To enhance the
medium and long-term competitiveness of products the Company continued to increase
long-term and strategic investments in intelligent transformation and digital upgrading as well as
brand building which exerted certain impacts on current-period profits. Going forward the
Company will strive to optimize product mix deepen strategic cooperation with suppliers
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promote quality improvement and efficiency enhancement across the internal full value chain
and facilitate sustained improvement in operational capacity and profitability.(II) Progress of the Company’s development strategy and business plans during the
reporting period
1. Refrigerator (Freezer) industry
The Company continued to consolidate internal operational capacity focusing on the core
strategy of “Strengthen Products Optimize Channels Attract Users and Improve Efficiency”. Interms of products the Company leveraged the industrial advantages of “internal and externalcollaboration” to advance the development and launch of key products. Led by high-end M-Fresh
606 and 618 models it reshaped the global product lineup based on the most essential
fresh-keeping capability of the refrigeration industry. In terms of channels classified refined
high-quality operation was implemented. KT channels focused on optimizing profitability basic
channels steadily consolidated operational foundations sinking channels vigorously boosted
terminal sales and the C-end e-commerce business continued to expand market share.Meanwhile the Company continuously deepened cooperation with KA customers expanded
customer coverage on online channels and built market capacity for offline channels. Brand
building and content operation were continuously strengthened on the market front. In terms of
organization the Company promoted streamlined organizational restructuring consolidated
responsibilities of business entities and comprehensively improved personnel efficiency.During the reporting period the Company’s refrigerator (freezer) business generated revenue
of approximately RMB4.835 billion yuan a year-on-year increase of 6.39%.
2. Air conditioning industry
Adhering to the user-oriented principle thoroughly implementing the business philosophy of
“product excellence brand prioritization channel co-creation and direct-to-consumer” closelyfollowing the development requirement of “consolidate foundations explore new opportunitiesimprove quality and boost efficiency” and supported by strengthened market competitiveness
and organizational guarantees the Company continuously promoted industrial development. In
terms of products focusing on AI+ Full Dust-free technology and AI+ Living-Dining Cabinet
the Company launched new products including the Inspirational Wind Wall-mounted Air
Conditioner and Shared Air Conditioner II Cabinet for Living & Dining Room expanded product
categories improved the product portfolio and drove continuous upgrading of product structure.In terms of brands guided by brand public relations the Company strengthened brand
recognition and expanded brand influence. It carried out product promotion and brand
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communication via short videos graphics and other content formats to drive sales conversion. In
terms of channels and users the Company adhered to integrated online and offline operation
continuously pushed forward market expansion and large store construction; comprehensively
advanced the development of the customer system for household central air conditioners
acquired new customers promoted new retail transformation established a marketing system
enabling direct brand access to users and realized direct user connection in marketing retail
after-sales service and other scenarios. On the market front the Company focused on core
markets intensified channel development diversified business layout strove to improve regional
penetration and customer coverage and expanded order volume. Meanwhile the Company
deepened internal coordination mechanisms optimized the efficiency of resource allocation
translated strategic orientation into practical execution results and maintained steady and orderly
business operation.During the reporting period the Company’s air conditioner business achieved revenue of
approximately RMB9.034 billion yuan a year-on-year decrease of 21.95%.
3. Washing machine industryCentering on the business philosophy of “Focused Breakthrough and SystematicIntegration” in terms of products the Company adhered to the user-oriented approach advanced
new product launches and technological iteration rolled out flagship products including M-Fresh
Starry Series and Hercules Pro and promoted domestic and overseas product development as
well as customized business for customers. In terms of operation focusing on three core priorities
of quality cost reduction and delivery the Company achieved industrial quality improvement and
efficiency enhancement through full-chain optimization. On the market front the Company
deepened channel transformation and base market development carried out joint marketing with
customers and lifted market share and brand influence in the mid-to-high-end segment. For
front-loading washing machines the iteration of flat embedding technology drove steady growth
in export volume achieving remarkable results in developing core customers. Clothes dryers
completed market introduction and formed effective synergy with washing machine products.Meanwhile the Company fully pushed forward the construction of the Mianyang Smart Home
Appliance Factory optimized regional production capacity layout and accumulated solid
momentum for long-term industrial development.During the reporting period the Company’s washing machine and other businesses generated revenue
of approximately RMB1.212 billion yuan a year-on-year increase of 16.55%.
4. Major kitchen appliance and small home appliance industry
19Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Centering on kitchen and living solutions taking brand development as the main line and
adhering to the user-oriented principle the Company promoted integrated multi-category
omni-channel development and user operation and steadily built industrial portfolio capabilities.In terms of products the Company stabilized the drinking appliance segment and expanded water
purification products. It carried out iterative upgrading focusing on healthy materials intelligent
control and other directions and continuously improved the product portfolio. In terms of
channels online the Company deepened cooperation with emerging platforms and conducted
brand content marketing relying on digital AI tools; offline it intensified development in core
advantageous regions promoted the layout of brand exclusive stores consolidated the foundation
of existing markets and upgraded offline scenario-based experience. In terms of services relying
on an efficient management platform the Company realized rapid response to user demands
enhanced the professionalism of after-sales services and promoted the application of digital
management tools simultaneously leading to steady improvement in user service experience and
satisfaction.During the reporting period the Company’s major kitchen appliances and small household appliance
business achieved revenue of approximately RMB 760 million yuan a year-on-year increase of 8.70%.
5. Biomedical industry
Adhering to the user-oriented principle the Company continuously promoted channelorganizational reform thoroughly implemented the “market segmentation + scenario-basedengagement” strategy and accurately identified and responded to potential user demands. The
Company continuously improved channel layout in the life science sector optimized regional
resource allocation and partner structure and effectively enhanced the depth of user coverage and
penetration efficiency in key markets. At the same time the Company regularly carried out
nationwide inspections under the “LingXin Service” program and special training on improving
after-sales service skills and continuously boosted user satisfaction and brand trust via
professional and standardized service capabilities. The Company accelerated global layout made
efforts in both scale expansion and quality improvement and continuously consolidated channel
foundations. It attached equal importance to developed markets and emerging markets and raised
the visibility of core products through diversified promotion approaches. Meanwhile the
Company steadily advanced local deployment improved market response speed and delivery
efficiency strove to build full-chain competitiveness covering product promotion technical
support and after-sales services and gradually formed a global channel system supported by
customer stickiness.During the reporting period the Company’s biomedicine business achieved revenue of approximately
RMB155 million yuan a year-on-year increase o %.
20Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
(III) Year-on-year changes in major financial data
Unit: RMB
Y-o-y
Corresponding prior
Reporting period changes Reason for change
period
(+-)
Operating revenue 16136185712.66 18071515842.15 -10.71% No major changes
Operating cost 14816913442.28 16184229553.79 -8.45% No major changes
Selling expenses 775819306.22 834522622.88 -7.03% No major changes
Administrative
154555537.78 196789198.82 -21.46% No major changes
expenses
It is mainly due to the increase in
earnings from exchange rate fluctuations
Financial expenses -46258300.83 -11022175.24 -319.68%
in the current period compared to the
same period last year
It is mainly due to the reduction in
Income tax expenses 18630091.67 80681854.99 -76.91% taxable income for the current period
compared to the same period last year
R&D investment 479027654.92 444113996.74 7.86% No major changes
It is primarily due to the decrease in cash
Net cash flows
received from selling goods and
generated from 323637801.01 1360573661.71 -76.21%
providing labor services in the current
operating activities
period
It is mainly due to the year-on-year
Net Cash Flows from increase in the purchase of structured
-1730715265.50-3006240804.9742.43%
Investing Activities deposits in the current period compared
to the same period last year
Net cash flows from
378767418.95 413846601.75 -8.48% No major changes
financing activities
Net increase in cash
-1055251295.78 -1225497635.35 13.89% No major changes
and cash equivalents
(IV) Significant changes in profit composition or profit sources of the company during
the reporting period
□Applicable √ Not applicable
No significant changes occurred in the profit composition or profit sources of the Company
during the reporting period.(V) Constitute of operating revenue
Unit: RMB
Reporting period Corresponding prior period
Ratio in Ratio in Y-o-y changes
Amount operating Amount operating (+-)
revenue revenue
Total operating
16136185712.66100%18071515842.15100%-10.71%
revenue
Manufacture of 16006961183.63 99.20% 17934000029.18 99.24% -10.75%
21Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
household
Other operations 129224529.03 0.80% 137515812.97 0.76% -6.03%
Refrigerator
4835416051.8829.97%4545124381.3125.15%6.39%
freezer
Air conditioners 9034407289.56 55.99% 11575132133.83 64.05% -21.95%
Washing machines 1212439098.54 7.51% 1040297063.65 5.76% 16.55%
Small home
appliance and 759543212.44 4.71% 698777012.65 3.87% 8.70%
kitchen & toilet
Other products 165155531.21 1.02% 74669437.74 0.41% 121.18%
Other operations 129224529.03 0.80% 137515812.97 0.76% -6.03%
Domestic 9738517015.57 60.35% 11704228305.86 64.77% -16.79%
Overseas 6397668697.09 39.65% 6367287536.29 35.23% 0.48%
(VI) Information on industries products or regions contributing over 10% of the
Company’s operating revenue or operating profit
√ Applicable □ Not applicable
Unit: RMB
Increase/d
Increase/d Increase/de
Gross ecrease of
ecrease of crease of
Operating revenue Operating cost profit operating
operating gross profit
ratio revenue
cost y-o-y ratio y-o-y
y-o-y
On industry
Manufacture of
16006961183.6314746673312.567.87%-10.75%-8.47%-2.29%
household
Refrigerator
4835416051.884181137532.6813.53%6.39%9.52%-2.47%
freezer
Air
9034407289.568662395521.374.12%-21.95%-19.55%-2.86%
conditioners
Domestic 9613327434.95 8850009164.32 7.94% -16.92% -13.75% -3.39%
Overseas 6393633748.68 5896664148.24 7.77% 0.48% 0.79% -0.28%
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
IV. Analysis of Non-main Business
22Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
√ Applicable □ Not applicable
Unit: RMB
Is it
Amount Ratio in sustaintotal profit Note able
(Y/N)
Investment income 67.33% Due to the income from capital investment56667905.56 in this period No
Gains/losses from Due to changes in the fair value of
changes in fair value 2556962.11 3.04% irrevocable orders and foreign exchange Nocontracts in the current period
Due to the provision for inventory
Asset impairment -50241360.32 -59.70% depreciation losses in the current No
period
Non-operating Due to the income from liquidated damages
Income 13586541.32 16.14% received in this period No
Non-operating 1.01% Due to donation expenses in the currentExpenses 848297.31 period No
The increase in value-added tax credit and
Other Income 42667689.12 50.70% government subsidies recognized in the No
current period
Credit Impairment
Losses -20989673.72 -24.94%
Due to the provision for bad debt losses on
accounts receivable in the current period No
V.Analysis of Assets and Liabilities
(I) Major changes of assets composition
Unit: RMB
End of the reporting
period As at the end of last year
Ratio Ratio Ratio Explanation of
Amount in total Amount in total changes significant changes
assets assets
Decrease
Cash and cash Mainly attributable to the9901859533.9 by 9.39
equivalents 36.28% 10186661869.94 45.67% Company’s purchase of2 percentag
structured deposits
e points
An The main reason is the
Accounts increase impact of peak and4647761706.9
receivable 17.03% 2014944491.33 9.03% of 8 off-peak seasons on the6
percentag month-on-month increase
e points in operating income
Contract assets 652939.38 0.00% 725425.50 0.00% — No major changes
Decrease The decrease in proportion
Inventory 2448356149.3 by 0.36 is due to the increase in8.97% 2079744997.60 9.33%
0 percentag total assets in the current
e points period
Decrease
Investment by 0.06
Properties 60220380.73 0.22% 63387835.97 0.28% No major changespercentag
e points
23Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
End of the reporting
period As at the end of last year
Ratio Ratio Ratio Explanation of
Amount in total Amount in total changes significant changes
assets assets
Long-term Decrease
Equity by 0.0887542404.25 0.32% 88148806.34 0.40% No major changes
Investments percentag
e points
Decrease The decrease in proportion
Fixed assets 2299091087.4 by 1.79 is due to the increase in8.42% 2276129362.07 10.21%
4 percentag total assets in the current
e points period
An
Construction in increase
progress 207909169.42 0.76% 127282346.90 0.57% of 0.19 No major changes
percentag
e points
Decrease
Right-of-use by 0.15
assets 122827599.23 0.45% 132921569.77 0.60% No major changespercentag
e points
Decrease
Short-term by 0.65
borrowings 812892109.74 2.98% 810099931.94 3.63% No major changespercentag
e points
Decrease
Contract Due to the decrease inby 2.49
liabilities 386682003.13 1.42% 871792341.16 3.91% advance receipts in thispercentag
period
e points
Decrease
Long-term by 0.01
Borrowings 135067500.00 0.49% 111178667.25 0.50% No major changespercentag
e points
Decrease
Lease liabilities by 0.13102667349.71 0.38% 114402511.69 0.51% No major changes
percentag
e points
(II) Information on major overseas assets
□Applicable √ Not applicable
24Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
(III) Assets and liability measured by fair value
√ Applicable □ Not applicable
Unit: RMB
Gains/losses Accumulativechanges in Provision Amount of
Items Beginning from changes fair value made purchase in the Sales in thebalance in fair value during the period Other changes Ending balance
in this period reckoned intoequity period
period
Financial assets
1. Trading financial
assets (derivative
financial assets 6756891.42 16635000000.00 14615000000.00 2026756891.42
excluded)
2. Derivative Financial
Assets 61841784.71 19416004.46 81257789.17
3. Accounts Receivable
Financing 409930586.39 271443091.80 681373678.19
4. Other Non-current
Financial Assets 661832269.76 2843468.76 664675738.52
Subtotal of financial
assets 1133604640.86 29016364.64 16635000000.00 14615000000.00 271443091.80 3454064097.30
Financial liabilities 38804849.55 26459402.53 65264252.08
Other changes
Other changes in receivables financing are due to the increase in notes receivable with the objective of both collecting contractual cash
flow (collections) and selling (endorsement or discounting).Are there major changes in measurement attributes for main assets of the Company in the reporting period
□ Yes √ No
Explanation of reasons for material changes in measurement attributes of major assets of the Company during the reporting period and their
impacts on operating results and financial position
25Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
(IV) 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 “26. Assets with Restricted Ownership or Use Rights” in “V. Notes to MajorItems of Consolidate Financial Statement” under “Section VIII Financial Report” in the Report.VI. Investment Analysis
(I) Overall situation
√ Applicable □ Not applicable
Investment in the reporting Investment in the same period of last
Changes
period (RMB) year (RMB)
0500000000.00-100%
The change in the Company’s investment amount during the reporting period was due to the
joint capital contribution of RMB 500 million by the Company and its subsidiary Mianyang
Meiling in the same period of last year to establish the subsidiary Mianyang Changhong Smart
Home Appliance Co. Ltd. No new major investment projects were launched during this reporting
period.(II) The major equity investment obtained during the reporting period
□Applicable √ Not applicable
(III) Ongoing major non-equity investment projects 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. As of May 18 2026 the project had
completed the design planning of process equipment and production line layout as scheduled and
construction had not yet commenced. On May 18 and June 8 2026 the Company convened the
30th meeting of the 11th Board of Directors and the 2025 Annual General Meeting of
Shareholders which reviewed and approved the Proposal on Subsidiary Suspending Investment
and Construction of the Smart Home Appliance Industrial Park Project. The subsidiary Hefei
26Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Industrial was approved to suspend investment and construction of the Smart Home Appliance
Industrial Park Project and the Chairman of the Company was authorized to launch project
construction in due course according to market demand and the Company’s production capacity
utilization.For detailed information the Company disclosed relevant content via announcements
(Announcement No. 2025-045 2025-046 2025-082 2026-033 2026-034 2026-038) on
designated information disclosure media including Securities Times China Securities Journal and
Juchao Website (www.cninfo.com.cn) on June 19 2025 November 25 2025 May 19 2026 and
June 9 2026.(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 investment
Gains/losse Investment
Amount amount at the end
s from Accumulative Amount amount at
Amount at purchased of the period in net
Initial changes in changes in fair sold in the the end of
Type the in the assets of the
investment fair value value reckoned reporting the
beginning reporting Company at the end
in this into equity period reporting
period of the reporting
period period
period
557744.46560048.15-704.340452027.03525469.01486606.1782.82%
Forward foreign exchange contracts
557744.46560048.15-704.340452027.03525469.01486606.1782.82%
Total
Explanation of the accounting policies
and specific principles of accounting
calculation for hedging business during
N/A
the reporting period as well as whether
there have been significant changes
compared with the previous reporting
27Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
period
Description of actual profit and loss
Investment income from derivatives held for hedging purposes during the reporting period amounted to RMB 19.892 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 delivery period matched with the predicted return amount and the agreed
Description of hedging effect
delivery amount matched with the 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
determine the plan of forward foreign exchange contracts and make dynamic management to the business to ensure reasonable
profit level.
2. Liquidity risk: All foreign exchange transactions are based on a reasonable estimate of the future import and export business to
meet the requirements of the trade authenticity. In addition forward foreign exchange transactions are processed with bank credit
Risk analysis and controlling measures will not affect liquidity of company funds.for derivatives holdings in the reporting
3. Bank default risk: If cooperative banks collapse within the contract time the Company will not be able to transact the original
period (including but not limited to
foreign exchange contracts with contract price which leads the risk of income uncertainty. So the Company chose five state-owned
market risk liquidity risk credit risks
banks the Chinese-funded banks in shareholding enterprise as Everbright Bank Industrial Bank and the foreign-funded banks as
operation risk and law risks etc.)
UOB OCBC BEA etc. to conduct the trading of foreign exchange capital. These banks share a solid strength and management
whose 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 The Company determines fair value in accordance with the Chapter VII “Determination of Fair Value” carried in the Accounting
changes in market price or fair value in Standards for Business Enterprises No.22 - Recognition and Measurement of Financial Instruments. Fair value is basically obtained
the reporting period as for analysis of according to prices offered by bank and other pricing services. While fair value of derivatives is mainly obtained according to the
the fair value of derivatives disclosed balance between prices given by outstanding contracts and forward prices given by contracts signed during the reporting period with
28Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
specific applied methods and bank. The differences are identified as trading financial assets and liabilities.correlation assumption and parameter
setting
Lawsuit involved (if applicable) N/A
Disclosure date for approval from the
board of directors for investment of April 3 2026
derivatives (if applicable)
Disclosure date for approval from board
of shareholders for investment of June 9 2026
derivatives (if applicable)
29Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
(2) Derivative investments for speculation during the reporting period
□Applicable √ Not applicable
The Company had no derivative investment in the reporting period.(V) Utilization of raised funds
□Applicable √ Not applicable
The Company had no use of proceeds during the reporting period.VII. 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
30Full Text of the 2026
Semi-Annual Report of Changhong Meiling Co. Ltd.VIII. 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
Registered Operating Operating
Name of Company Type Principal business Total assets Net assets Net profit
Capital revenue profit
Research and development
Zhongke Meiling Cryogenic Subsidi
manufacturing and sales of 96730934.00 752839218.50 626998970.50 156298460.88 9863160.59 9826573.58
Technology Co. Ltd. ary
ultra-low temperature freezer
Jiangxi Meiling Electric Subsidi Manufacturing of refrigeration
50000000.00339915928.91180873775.55304342292.11-6998766.79-6997566.79
Appliance Co. Ltd. ary and freezer
Research development and sales
Sichuan Hongmei Intelligent Subsidi of household appliance control
5000000.0030629185.3725996203.3020840869.718835147.918813515.65
Technology Co. Ltd. ary software and intelligent hardware
controller software and hardware
Hefei Changhong Industrial Subsidi
Sales of white goods 100000000.00 2826966061.25 215872398.06 1484793517.51 -36970918.00 -36961518.00
Co. Ltd. ary
Zhongshan Changhong Electric Subsidi R&D manufacturing and foreign
334000000.004681449875.74802218056.983102983401.6172228499.7861404612.34
Co. Ltd. ary sales of air-conditioning
Sichuan ChanghongAir Subsidi R&D manufacturing and
850000000.008158377405.781512404084.536190671461.97-77713649.29-74708035.40
Conditioner Co. Ltd. ary domestic sales of air-conditioning
31Full Text of the 2026
Semi-Annual Report of Changhong Meiling Co. Ltd.R&D and sales of household
Hefei Changhong Meiling Life Subsidi
appliances kitchen appliances 50000000.00 700105627.18 88317408.06 725461739.26 15433055.83 10698608.00
Appliances Co. Ltd. ary
and small home appliances
32Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
(II) Subsidiary obtained and disposed in the reporting period
□Applicable √ Not applicable
(III) Description of holding and participating companies
□Applicable √ Not applicable
The Company has no important information on holding and invested companies required to
be disclosed during the reporting period.IX. Structured Entities Controlled by the Company
□Applicable √ Not applicable
X. Risks Faced by the Company and Countermeasures
(I) Potential risks and countermeasures
In 2026 the Company will face risks including intensified industrial competition exchange
rate fluctuations volatility of bulk material prices trade frictions and geopolitical impacts.
1. Risk of sluggish market demand and intensified industrial competition
The domestic large household appliance market has shifted from being driven by growth to a
phase of competition within the existing market. Due to the weakening effect of national subsidy
policies the continuous adjustment of the real estate market and weak end-consumer demand the
market's growth momentum has noticeably weakened. At the same time raw material prices are
running high industry prices are becoming increasingly competitive and corporate profit margins
are further compressed leading to a pronounced trend of operational pressure..The Company will continuously optimize product mix increase investment in technological
innovation and development of differentiated products to raise product added value and
competitiveness; deepen channel transformation and refined operation to improve operational
efficiency; strengthen cost control and promote quality improvement and efficiency enhancement
across the full value chain so as to boost comprehensive risk resistance capacity.
2. Exchange rate fluctuation risk
The overseas business accounts for a certain proportion of the Company's total business.Changes in the international situation may trigger sharp exchange rate fluctuations thereby
affecting the profitability of the Company’s export business and exchange losses.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.
33Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
3. Risk of raw material price volatility and supply risks
Major raw materials for the Company’s products include steel copper aluminum plastics
and chemical materials. Significant fluctuations in bulk raw material prices will directly affect the
Company’s production costs and consequently impose certain impacts on operating performance.In addition spurred by the rapid development of the global AI industry some electronic
components may face risks of tight supply or price swings.The Company will keep a close eye on price fluctuations of bulk materials and address risks
through internal technological innovation diversified supply layout raw material price
adjustment early warning and evaluation mechanisms to mitigate risks arising from price volatility.At the same time the Company will strengthen the development of the supply chain system and
leverage industrial chain coordination advantages to secure stable supply of core raw materials.
4. Risk of international trade frictions and geopolitical risks
Global trade frictions and geopolitical uncertainties may hinder the expansion of the
Company’s overseas business and undermine supply chain stability.The Company closely monitors the impacts of changes in international trade policies and geopolitical
uncertainties on its global business and improves risk early warning and emergency response mechanisms.It actively advances diversified layout of overseas markets and adopts various risk response measures to
effectively guard against relevant risks.(II) Business plan for the second half of the year
In the second half of 2026 the Company will pursue high? quality development through
five key initiatives: innovation-driven development internal-external integration industrial
synergy marketing upgrading and digital transformation; uphold its product philosophy of“Attractive Appearance Reliable Quality Competitive Cost Performance and SatisfactoryExperience” advance high? end serialization mid? end differentiation and cost? oriented
positioning for low? end product lines and streamline SKUs; keep scaling up R&D investment
strengthen forward? looking planning for technical pre? research and product development
deepen core technologies including fresh? keeping cleanliness intelligence energy conservation
and frequency conversion and steadily reinforce product competitiveness; unify brand visual
identity implement systematic management of product IPs expand AI application across
manufacturing and business scenarios and boost smart manufacturing capabilities; unlock full?
value? chain potential to improve cost? efficiency and human resource efficiency and secure
steady growth in overall operational efficiency..
1. Refrigerator (Freezer) industryThe Company will push forward all work consistently under the strategy of “Strengthen
34Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.Products Optimize Channels Attract Users and Improve Efficiency”. In terms of products focus
on intensive promotion of mid-tier products including Songya Great Whale and Little Certainty.Closely track consumption trends continuously advance the optimization and upgrading of
product structure and strengthen product leadership. In terms of channels taking improved retail
capacity as the core objective continuously expand market share online; implement strategies of
classified operation targeted breakthroughs quality improvement and performance enhancement
offline consolidate cooperation with key customers and lift terminal operation capacity. In terms
of marketing promotion fully mobilize the efficiency of frontline marketing teams continuously
advance the development of Meiling brand IP coordinate the allocation of brand resources and
enhance brand influence and reputation. In terms of operation adhere to the user-oriented
principle and optimize the “R&D production and sales” management system based on customer
satisfaction. Actively explore emerging markets accelerate the growth of brand business and
further push forward e-commerce transformation.
2. Air conditioning industry
Guided by user demand driven by product innovation supported by channel coordination
and rooted in brand building the Company will steadily carry out all operational work. In terms
of products pursue iterative upgrading focusing on AI (voice control human sensing display)
and health technologies (negative ions fresh air etc.) optimize product platforms fill gaps in
product categories and continuously raise product technological added value and user experience.In terms of markets adhere to diversified channel coordination and build an ecological system
featuring mutual benefit and win-win results. Improve operational efficiency offline implement
refined hierarchical operation online concentrate resources to develop high-quality customer
resources and establish stable strategic partnerships. Continuously build a marketing system
enabling direct brand access to users diversify user touch scenarios and strengthen full-cycle user
operation and management. Accurately grasp market rhythms optimize sales strategies and boost
retail performance in peak seasons. Achieve balanced and optimized global regional layout
deepen cooperation with existing core customers develop new customers cultivate high-quality
medium-sized clients and build a diversified global customer system with strong risk resistance.
3. Washing machine industryFirmly implement the business philosophy of “Focused Breakthrough and SystematicIntegration”. In terms of products for front-loading washing machines establish the brand
perception of “full self-cleaning” relying on internal and external full self-cleaning technologies
build a full self-cleaning product matrix via AI hand-wash simulation and other technologies to
strengthen differentiated product competitiveness. For top-loading washing machines launch
brand-new flat-embedded and large-drum products to enrich the mid-to-high-end product lineup.Continuously press ahead with the development of the second-generation flat-embedded front
35Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
loaders and clothes dryers develop serialized washer-dryer combos to meet demands of different
customers and lift comprehensive product competitiveness. In terms of markets continuously
strengthen channel capacity building. E-commerce channels focus on professional operation and
content promotion to achieve growth breakthroughs; basic channels consolidate market
foundations through network expansion and in-depth customer development; sinking channels tap
incremental potential via launch of exclusive products; KT channels drive performance growth by
improving efficiency of large stores. Meanwhile advance professional capacity building to lift
terminal conversion efficiency. Cooperate with key customers to deepen marketing collaboration
leverage new media operation to accelerate the integration of online and offline brand
development and comprehensively boost brand market penetration and influence.
4. Major kitchen appliance and small home appliance industry
Deepen deployment in core kitchen and drinking water scenarios to drive steady business
growth. In terms of products consolidate advantages in drinking water appliances further develop
water purification business promote serialized product layout iterate AI kitchen and whole-house
water system solutions strengthen differentiated technological barriers and raise product
premium capacity and market competitiveness. In terms of channels deepen coordinated
omni-channel operation online and offline. Strengthen content marketing and refined livestream
e-commerce operation online; push forward channel sinking and terminal upgrading offline
continuously upgrade scenario experience stores and create immersive consumption experience.In terms of services comprehensively advance AI-enabled digital transformation of business
continuously optimize user service experience and consolidate brand reputation.
5. Biomedical industry
The Company will continue to seize development opportunities in the life science sectorthoroughly implement the business philosophy of “technology-based product-basedmarket-oriented and customer-centered development” unswervingly pursue the productcoordination strategy of “vertically expanding sample banks and horizontally expandinglaboratories” and strive to achieve high-quality development featuring balanced growth in
business scale and quality across all segments.XI. 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
36Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
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 the Juchao Website (www.cninfo.com.cn) and other designated information disclosure media.XII. Implementation of the Action Plan of “Double Improvement of Quality andReturn”Has the Company disclosed the action plan of "double improvement of quality and return”
□ Yes √ No
37Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Section IV Corporate Governance Environmental and Social
Responsibility
I. 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
Director Elected February 11 2026 the 11th Board of Directors of the Company
effective from the date of approval by the
board of shareholders until the expiration of
Li
the 11th Board of Directors' term.Xiaodong
At the 27th meeting of the 11th Board of
Directors it was approved to elect Mr. Li
Xiaodong as the Chairman of the 11th
Chairman Elected February 11 2026
Board of Directors 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 Congress it was
democratically elected to appoint Mr. Lu
Employee
Lu Haiyang Elected April 1 2026 Haiyang as the employee director of the
Director
11th Board of Directors with a term that is
consistent with the 11th Board of Directors'
term.At the 28th meeting of the 11th Board of
Directors it was approved to appoint Mr.Huang Appoint Huang Herong as the Vice President
Vice President April 1 2026
Herong ments effective from the date of Board approval
until the expiration of the 11th Board of
Directors' term.Tang Appoint At the 28th meeting of the 11th Board of
Vice President April 1 2026
Shenjie ments Directors it was approved to appoint Mr.
38Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Tang Shenjie as the Vice 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 was approved to appoint Mr.Appoint Zhang Hao as the Vice President effective
Zhang Hao Vice President April 1 2026
ments from the date of Board approval until the
expiration of the 11th Board of Directors'
term.Due to work adjustment he no longer
Wu served as Chairman and other positions and
Chairman Resigned January 26 2026
Dinggang continues to work at the controlling
shareholder’s entity.Due to adjustments to the Company’s
governance structure he no longer served as
Cheng
Director Resigned April 1 2026
Ping Director of the Company or other positions
and continues to work at an entity affiliated
with the controlling shareholder.Due to job transfer and reassignment he no
longer served as Vice President of the
Company and continues to serve as
Hu Zhaogui Vice President Resigned April 1 2026
Chairman and hold other positions at
Sichuan Changhong Air Conditioner Co.Ltd. a subsidiary of the Company.Due to job transfer and reassignment he no
longer served as Vice President of the
Kou
Vice President Resigned April 1 2026
Huameng Company or held any other positions. He is
now employed by an entity affiliated with a
related party.Due to work adjustment he no longer
Wang
Vice President Resigned April 1 2026 served as Vice President of the Company
Xiaocheng and is now employed by a subsidiary
controlled by the Company.Vice President Resigned January 21 2026 Due to job transfer she ceased to serve as
Li Xia
Chief Resigned January 21 2026 Vice President or Chief Compliance Officer
39Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Compliance of the Company and no longer holds any
Officer other positions. She is now employed by the
controlling shareholder's related unit.II. Profit distribution and capital reserve-to-share capital conversion during the
reporting period
□Applicable √ Not applicable
The Company plans not to distribute cash dividends issue bonus shares or increase share
capital by transferring capital reserves for the semi-annual period.III. 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.IV. Environmental Information Disclosure
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 environmental
No. Enterprise name information report
https://39.145.37.16:8081/zhhb/yfplpub_html/#/companyDet
ailsname=%E9%95%BF%E8%99%B9%E7%BE%8E%E8
Changhong Meiling Co. Ltd. %8F%B1%E8%82%A1%E4%BB%BD%E6%9C%89%E9%
99%90%E5%85%AC%E5%8F%B8&entpId=202517443582
60060&type=1
V. Social Responsibility
40Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.During the reporting period Changhong Meiling Industrial Study Tour was themed “TechnologyLearning and Smart Manufacturing for the Future.” By integrating smart manufacturing site visits
with hands-on labor practice experiences the program covered smart factory exploration
innovation center demonstrations scientific experiments and immersive study tour workshops.During the reporting period the Company hosted students from 60 schools and institutions for
study tour activities. With its unique innovative “Industry + Public Welfare” model the program
was successfully selected as one of the “Top Ten Industrial Study Tour Routes in Anhui Province”
and has become a benchmark case for industrial-themed study tours in Anhui Province. Zhongke
Meiling a subsidiary of the Company awarded special scholarships totaling RMB 550000 to
students at domestic universities. To date it has awarded cumulative special scholarships totaling
RMB 2.7 million.
41Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Section V Important Events
I. Commitments completed during the reporting period and unfulfilled commitments
overdue as at the end of the reporting period by relevant promising parties including the
Company’s actual controller shareholders related parties acquirers and the Company
□Applicable √ Not applicable
During the reporting period there existed no commitments completed during the reporting
period or unfulfilled commitments overdue as at the end of the reporting period made by relevant
promising parties including the Company’s actual controller shareholders related parties
acquirers and the Company.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
□Applicable √ Not applicable
No external guarantee out of the regulations occurred in the reporting period.IV. Appointment and Dismissal of Accounting Firms
Whether the semi-annual financial report has been audited
□ Yes √ No
The Company’s semi-annual report has not been audited.V. Explanation by the Board of Directors on the “Non-standard Audit Report” Issued
by the Accounting Firm for the Current Reporting Period
□Applicable √ Not applicableVI. Explanation by the Board of Directors on Matters Relating to the “Non-standardAudit Report” of the Previous Year
□Applicable √ Not applicable
VII. Matters Related to Bankruptcy Reorganization
42Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
□Applicable √ Not applicable
The Company did not experience any matters related to bankruptcy reorganization during the
reporting period.VIII. Litigation Matters
(I) Major litigation and arbitration matters
√ Applicable □ Not applicable
Wheth
Progr
er an
ess of
Amount estimat Litigation Disclosu
litigat Execution of
involved ed (arbitration) Disclosu re
Litigation (arbitration) overview ion litigation
(RMB liabilit ruling result re date referenc
(arbit (arbitration)
10000) y is and impact e
ration
recogni
)
zed
Zhiyijia an associate of the and After the
Company signed a sales requested the first-instance
contract with the defendant court to order judgment Tianjin
Tianjin Pengsheng Logistics Tianjin Pengsheng Gome
Co. Ltd. (hereinafter referred to Pengsheng to Electric
The
as "Tianjin Pengsheng"). After immediately Appliances and Juchao
judg
the contract was signed pay the other defendants Website:
ment
Zhiyijia the plaintiff supplied plaintiff did not file an (www.c
of
the goods to Tianjin Pengsheng RMB appeal the ninfo.co
the Decemb
the defendant as agreed but 96174308.4 first-instance m.cn)
first er 24
Tianjin Pengsheng the 2 and the judgment has (Annou
9617.43 No insta 2022
defendant failed to fulfill the correspondin come into effect ncement
nce October
payment obligation to Zhiyijia g liquidated and Zhiyijia has No.has 20 2023
as agreed. As statistically damages for applied to the 2022-10
come
calculated as of November 30 overdue Mianyang 1
into
2022 Tianjin Pengsheng the payment and High-tech Court 2023-05
effec
defendant still owed Zhiyijia bear the for compulsory 7)
t.payment for goods of related enforcement. As
RMB96174308.42. Based on litigation of the end of the
this Zhiyijia the plaintiff costs and reporting period
brought a lawsuit against Tianjin property Zhiyijia has
Pengsheng the defendant to the preservation executed a total of
43Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
People's Court of Mianyang guarantee RMB
High-tech Industrial fees. 40151899.40 in
Development Zone and place and
requested the court to order Zhiyijia will
Tianjin Pengsheng to continue to
immediately pay the plaintiff promote the
RMB 96174308.42 and the execution of the
corresponding liquidated remaining
damages for overdue payment unexecuted funds
and bear the related litigation of RMB
costs and property preservation 55276751.92 to
guarantee fees ensure the
legitimate rights
and interests of
the Company.Meiling Group a subsidiary of Among 22 cases
the Company signed a sales the first- and
contract with Gome Electrical second-instance
All
Appliances Co. Ltd. judgments have
first-
(hereinafter referred to as all become
and
"Gome"). After the contract was The court effective. Of
seco
signed Meiling Group the ordered the these 5 cases
nd-in Juchao
plaintiff fulfilled the supply defendant were dismissed
stanc Website:
obligation according to the Gome to and 17 cases
e (www.c
contract while Gome and its immediately upheld our
judg ninfo.co
affiliated companies the pay Meiling claims.ment October m.cn)
defendant failed to fulfill the 1086.01 No Group RMB Enforcement
s 20 2023 (Annou
payment obligation to Meiling 5630757.64 applications have
have ncement
Group according to the contract. plus been submitted
been No.According to statistics the correspondin for all 17 upheld
rende 2023-05
defendant Gome and its g overdue cases and
red 8)
affiliated companies owe payment Meiling Group
and
Meiling Group RMB penalties. will continue to
are
9841267.21 for purchase pursue
effec
payment and RMB 1018820.55 enforcement to
tive.for liquidated damages for safeguard the
overdue payment totaling RMB company’s
10860087.76. Based on this legitimate rights
44Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
the plaintiff Meiling Group filed and interests.a lawsuit against the defendant
Gome and its affiliated
companies in the People's Court
of Hefei High-tech Industry
Development Zone. The plaintiff
requests the court to order the
defendant Gome Electrical
Appliances to immediately pay
Meiling Group payment for
goods and liquidated damages
for overdue payment totaling
RMB 10860087.76.Accumulated amount of other
litigation that does not meet the
1960.39 No
disclosure standard of major
litigation
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.(II) Other litigation matters
□Applicable √ Not applicable
IX. Penalty and Rectification
□Applicable √ Not applicable
No penalties or rectification matters occurred to the Company during the reporting period.
45Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
X. Integrity of the Company and Its Controlling Shareholders and Actual Controllers
□Applicable √ Not applicable
46Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
XI. Major Related Party Transaction
(I) Related party transaction with routine operation concerned
√ Applicable □ Not applicable
Cleari
Type Whethe
ng
of Proportio r over Availabl
Related party Approved form
relate Content of Related party n in the e
Related Relations Pricing transaction transaction for
No. d related party transaction price similar approve similar Disclosure date Disclosure reference
party hip principle amount (RMB quota (RMB related
party transaction (RMB 10000) transactio d market
10000) 10000) party
transa ns limited price
transa
ction or not
ction
Pressure
Controlli regulator Spot
Sichuan ng integrated excha Juchao Website:
Changho Sharehol Purch circuit nge (www.cninfo.com.cn)
Market November 29 2025
1 ng der and ase of transistors 4755.63 4755.63 0.35% 12000 No bank —— Announcement No.
price December 17 2025
Electric Ultimate goods steel plate accep 2025-083 2025-085
Co. Ltd. Controlle plastic parts tance 2025-095
etc.r
Sichuan Controlli Purch Spot Juchao Website:Steel plates
Changho ng Market November 29 20252 ase of plastic pellets 162870.12 162870.12 11.97% 400000 No
excha —— (www.cninfo.com.cn)
ng Sharehol price nge December 17 2025goods Announcement No.copper tubes
Electroni der and bank 2025-083 2025-085
47Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
cs Ultimate etc. accep 2025-095
Holding Controlle tance
Group r
Co. Ltd.Other
enterpris
e control
under the
Changho Spot Juchao Website:
same
ng Huayi Purch Compressors excha (www.cninfo.com.cn)
controlli Market November 29 2025
3 Compres ase of energy 28569.78 28569.78 2.10% 70000 No nge —— Announcement No.
ng price December 17 2025
sor Co. goods resources bank 2025-083 2025-085
sharehol accep
Ltd. tance 2025-095der and
ultimate
controlle
r
Other
Sichuan enterpris Spot Juchao Website:
Changho e control Components exchaPurch (www.cninfo.com.cn)
ng Mold under the plastic parts Market nge November 29 20254 ase of 50726.61 50726.61 3.73% 170000 No —— Announcement No.Plastic same and lining price bank December 17 2025goods 2025-083 2025-085
Tech. controlli accessories etc. accept 2025-095
Co. Ltd. ng ance
sharehol
48Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
der and
ultimate
controlle
r
Other
enterpris
e control
under the Spot
Sichuan Juchao Website:
same Base plate excha
Changho Purch (www.cninfo.com.cn)
controlli assembly black Market nge November 29 2025
5 ng Jijia ase of 29672.55 29672.55 2.18% 100000 No —— Announcement No.
ng plate bracket price bank December 17 2025
Fine Co. goods 2025-083 2025-085
sharehol etc. accep
Ltd. 2025-095
der and tance
ultimate
controlle
r
Other
Sichuan enterpris Spot Juchao Website:
Changho e control Packing boxes exchaPurch (www.cninfo.com.cn)
ng under the foam fixed Market nge November 29 20256 ase of 6774.89 6774.89 0.50% 23000 No —— Announcement No.Package same support block price bank December 17 2025goods 2025-083 2025-085
Printing controlli labels etc. accep 2025-095
Co. Ltd. ng tance
sharehol
49Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
der and
ultimate
controlle
r
Other
enterpris
Sichuan
e control DIP switches
Changho
under the printed circuit Spot
ng Juchao Website:
same board excha
Precision Purch (www.cninfo.com.cn)
controlli assemblies Market nge November 29 2025
7 Electroni ase of 1840.99 1840.99 0.14% 4000 No —— Announcement No.
ng PCB automatic price bank December 17 2025
c goods 2025-083 2025-085
sharehol insertion and accep
Technolo 2025-095
der and mounting tance
gy Co.ultimate assemblies
Ltd.controlle
r
Sichuan Other
Changho enterpris Juchao Website:
ng e control Purch Spot (www.cninfo.com.cn)
under the Market November 29 20258 Internati ase of Foods 3.99 3.99 0.00% 6000 No excha —— Announcement No.same price December 17 2025onal goods nge 2025-083 2025-085
Hotel controlli 2025-095
Co. Ltd. ng
sharehol
50Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
der and
ultimate
controlle
r
Other
enterpris
e control
Guangdo
under the Spot
ng Juchao Website:
same excha
Changho Purch (www.cninfo.com.cn)
controlli Foam and Market nge November 29 2025
9 ng ase of 788.71 788.71 0.06% 5000 No —— Announcement No.
ng carton price bank December 17 2025
Electroni goods 2025-083 2025-085
sharehol accept
cs Co. 2025-095
der and ance
Ltd.ultimate
controlle
r
Sichuan Other
Changho enterpris
Spot
Juchao Website:
ng New e control
excha
Purch (www.cninfo.com.cn)
under the Batteries Market nge November 29 202510 Energy ase of 13.43 13.43 0.00% 6000 No —— Announcement No.electrical parts price bank December 17 2025
Technolo same goods 2025-083 2025-085
gy Co. controlli
accept
ance
Ltd. ng
sharehol
51Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
der and
ultimate
controlle
r
Other
enterpris
e control
Sichuan under the
Juchao Website:
Zhiyijia same
Purch Air Spot (www.cninfo.com.cn)
Network controlli Market November 29 2025
11 ase of conditioners 852.53 852.53 0.06% 5000 No excha —— Announcement No.
Technolo ng price December 17 2025
goods LCD TVs etc. nge 2025-083 2025-085
gy Co. sharehol
Ltd. der and
ultimate
controlle
r
Other
Changho
enterpris
ng Juchao Website:
e control
Internati Purch Spot (www.cninfo.com.cn)
12 under the
TV air Market November 29 2025
onal ase of 835.56 835.56 0.06% 4000 No excha —— Announcement No.same conditioner price December 17 2025
Holdings goods nge 2025-083 2025-085
controlli
(Hong 2025-095
ng
Kong)
sharehol
52Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Co. Ltd. der and
ultimate
controlle
r
Other
enterpris
e control Remote
Sichuan
under the controls Spot
Changho Juchao Website:
same switching excha
ng Purch (www.cninfo.com.cn)
controlli transformers Market nge November 29 2025
13 Electroni ase of 1216.32 1216.32 0.09% 5000 No —— Announcement No.
ng printed boards price bank December 17 2025
c goods 2025-083 2025-085
sharehol electronic accept
Products 2025-095
der and components ance
Co. Ltd.ultimate etc.controlle
r
Other
Spot
Sichuan enterpris Internet access Juchao Website:
e control exchaAilian Purch modules (www.cninfo.com.cn)
14 Technolo under the
Market nge November 29 2025
ase of electronic 617.54 617.54 0.05% 6000 No —— Announcement No.same price bank December 17 2025gy Co. goods components 2025-083 2025-085
Ltd. controlli
accept
etc. 2025-095
ng ance
sharehol
53Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
der and
ultimate
controlle
r
Other
enterpris
e control
Sichuan under the Spot
Juchao Website:
Aichuan same Inverter excha
Purch (www.cninfo.com.cn)
g controlli integrated Market nge November 29 2025
15 ase of 19019.61 19019.61 1.40% 70000 No —— Announcement No.
Technolo ng board water price bank December 17 2025
goods 2025-083 2025-085
gy Co. sharehol dispenser etc. accept
Ltd. der and ance
ultimate
controlle
r
Other
enterpris Inverter SpotSichuan Juchao Website:
e control integrated exchaAoku Purch (www.cninfo.com.cn)
under the board Market nge November 29 202516 Technolo ase of 2707.94 2707.94 0.20% 5000 No —— Announcement No.same electronic price bank December 17 2025gy Co. goods 2025-083 2025-085
control accept
Ltd. controlli 2025-095
ng components ance
sharehol
54Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
der and
ultimate
controlle
r
Transportation
Sichuan
Controlli services
Changho
ng recruitment Juchao Website:
ng Recei
Sharehol services Spot (www.cninfo.com.cn)
Electroni pt of Market November 29 2025
17 der and training 131.02 131.02 0.11% 400000 No excha —— Announcement No.
cs servic price December 17 2025
Ultimate services nge 2025-083 2025-085
Holding es
Controlle entrusted 2025-095
Group
r management
Co. Ltd.fees etc.Software usage
Controlli
services
Sichuan ng Juchao Website:
Recei information
Changho Sharehol Spot (www.cninfo.com.cn)
pt of consulting Market November 29 2025
18 ng der and 960.38 960.38 0.78% 15000 No excha —— Announcement No.
servic services price December 17 2025
Electric Ultimate nge 2025-083 2025-085
es inspection and
Co. Ltd. Controlle 2025-095
certification
r
services etc.Sichuan Other Recei Transportation Market Spot November 29 202519 Juchao Website:59575.4 59575.4 48.39% 120000 No ——
Changho enterpris pt of services price excha December 17 2025 (www.cninfo.com.cn)
55Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng e control servic warehousing nge Announcement No.Minshen under the es and handling 2025-083 2025-085
g same services etc. 2025-095
Logistics controlli
Co. Ltd. ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
Sichuan under the Commissioned Spot
Juchao Website:
Changho same Recei processing excha
(www.cninfo.com.cn)
ng Mold controlli pt of services Market nge November 29 2025
20 2438.15 2438.15 1.98% 16200 Yes —— Announcement No.
Plastic ng servic equipment price bank December 17 2025
2025-0832025-085
Tech. sharehol es maintenance accep
Co. Ltd. der and services tance
ultimate
controlle
r
21 Sichuan Other Recei Three Market 19686.16 19686.16 15.99% 52000 No
Spot —— Juchao Website:November 29 2025
Changho enterpris pt of guarantees excha (www.cninfo.com.cn)
56Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng e control servic service price nge December 17 2025 Announcement No.Kuaiyidi under the es equipment 2025-083 2025-085
an same repair service 2025-095
Electric controlli transportation
Service ng service
Co. Ltd. sharehol installation
der and service etc.ultimate
controlle
r
Other
enterpris
e control
under the
Juchao Website:
Sichuan same Recei Software usage
Spot (www.cninfo.com.cn)
Hongxin controlli pt of services Market November 29 2025
22 117.72 117.72 0.10% 15000 No excha —— Announcement No.
Software ng servic information price December 17 2025
nge 2025-083 2025-085
Co. Ltd. sharehol es services etc.der and
ultimate
controlle
r
23 Guangdo Other Recei Network Market 12.66 12.66 0.01% 15000 No
Spot —— Juchao Website:November 29 2025
ng enterpris pt of services excha (www.cninfo.com.cn)
57Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Changho e control servic recruitment price nge December 17 2025 Announcement No.ng under the es services 2025-083 2025-085
Electroni same security 2025-095
cs Co. controlli services etc.Ltd. ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
under the
Sichuan Catering Juchao Website:
same Recei
Jiahong services Spot (www.cninfo.com.cn)
controlli pt of Market November 29 2025
24 Industria property 510.11 510.11 0.41% 6000 No excha —— Announcement No.
ng servic price December 17 2025
l Co. management nge 2025-083 2025-085
sharehol es
Ltd. services etc. 2025-095
der and
ultimate
controlle
r
25 Sichuan Other Recei Conference Market 34.56 34.56 0.03% 6000 No
Spot —— Juchao Website:November 29 2025
Changho enterpris pt of services excha (www.cninfo.com.cn)
58Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng e control servic accommodatio price nge December 17 2025 Announcement No.Internati under the es n services 2025-083 2025-085
onal same travel services 2025-095
Hotel controlli
Co. Ltd. ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
Sichuan under the
Juchao Website:
Changho same Recei
Property Spot (www.cninfo.com.cn)
ng controlli pt of Market November 29 2025
26 management 3.01 3.01 0.00% 6000 No excha —— Announcement No.
Property ng servic price December 17 2025
services nge 2025-083 2025-085
Service sharehol es
Co. Ltd. der and
ultimate
controlle
r
27 Sichuan Other Recei Design and Market 907.57 907.57 0.74% 15000 No
Spot —— Juchao Website:November 29 2025
Changho enterpris pt of development excha (www.cninfo.com.cn)
59Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng e control servic services price nge December 17 2025 Announcement No.Hongwei under the es software 2025-083 2025-085
Technolo same services 2025-095
gy Co. controlli
Ltd. ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
Sichuan under the
Juchao Website:
Zhiyijia same Recei
Marketing Spot (www.cninfo.com.cn)
Network controlli pt of Market November 29 2025
28 promotion 3.55 3.55 0.00% 15000 No excha —— Announcement No.
Technolo ng servic price December 17 2025
services etc. nge 2025-083 2025-085
gy Co. sharehol es
Ltd. der and
ultimate
controlle
r
29 Sichuan Other Recei Entrusted Market 440.77 440.77 0.36% 15000 No
Spot —— Juchao Website:November 29 2025
Changho enterpris pt of processing excha (www.cninfo.com.cn)
60Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng Jijia e control servic services price nge December 17 2025 Announcement No.Fine Co. under the es bank 2025-083 2025-085
Ltd. same accep 2025-095
controlli tance
ng
sharehol
der and
ultimate
controlle
r
Other
Sichuan enterpris
Changho e control
ng Gerun under the
Juchao Website:
Environ same Recei
Environmental Spot (www.cninfo.com.cn)
mental controlli pt of Market November 29 2025
30 protection 11.96 11.96 0.01% 6000 No excha —— Announcement No.
Protectio ng servic price December 17 2025
services nge 2025-083 2025-085
n sharehol es
Technolo der and
gy Co. ultimate
Ltd. controlle
r
31 Sichuan Other Recei Spot Juchao Website:Maintenance Market 1.53 1.53 0.00% 15000 No —— November 29 2025
Changho enterpris pt of excha (www.cninfo.com.cn)
61Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng e control servic fees price nge December 17 2025 Announcement No.Network under the es 2025-083 2025-085
Technolo same 2025-095
gy Co. controlli
Ltd. ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
Sichuan under the
Technical Juchao Website:
Aichuan same Recei
services Spot (www.cninfo.com.cn)
g controlli pt of Market November 29 2025
32 warehouse 85.05 85.05 0.07% 6000 No excha —— Announcement No.
Technolo ng servic price December 17 2025
management nge 2025-083 2025-085
gy Co. sharehol es
services 2025-095
Ltd. der and
ultimate
controlle
r
33 Changho Other Recei Market support Spot Juchao Website:Market 371 371 0.30% 15000 No —— November 29 2025
ng enterpris pt of excha (www.cninfo.com.cn)
62Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Internati e control servic price nge December 17 2025 Announcement No.onal under the es 2025-083 2025-085
Holdings same 2025-095
(Hong controlli
Kong) ng
Co. Ltd. sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
under the
Sichuan Instrument Juchao Website:
same Recei
Qiruike repair services Spot (www.cninfo.com.cn)
controlli pt of Market November 29 2025
34 Technolo inspection and 273.35 273.35 0.22% 6000 No excha —— Announcement No.
ng servic price December 17 2025
gy Co. certification nge 2025-083 2025-085
sharehol es
Ltd. services 2025-095
der and
ultimate
controlle
r
35 Sichuan Controlli Sale Refrigerators Spot Juchao Website:Market 25.28 25.28 0.00% 2000 No —— November 29 2025
Changho ng of air excha (www.cninfo.com.cn)
63Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng Sharehol goods conditioners price nge December 17 2025 Announcement No.Electric der and kitchen and bank 2025-083 2025-085
Co. Ltd. Ultimate bathroom accep 2025-095
Controlle appliances tance
r small home
appliances etc.Other
enterpris
e control
Sichuan under the
Plastic parts Juchao Website:
Changho same
Sale aluminum foil Spot (www.cninfo.com.cn)
ng Mold controlli Market November 29 2025
36 of tapes small 3.87 3.87 0.00% 4000 No excha —— Announcement No.
Plastic ng price December 17 2025
goods home nge 2025-083 2025-085
Tech. sharehol
appliances 2025-095
Co. Ltd. der and
ultimate
controlle
r
Other Washing
Sichuan Spot Juchao Website:
enterpris Sale machinesZhiyijia excha (www.cninfo.com.cn)
37 e control of refrigerators
Market November 29 2025
Network 361415.48 361415.48 22.58% 850000 No nge —— Announcement No.under the price December 17 2025
Technolo goods
freezers air
bank 2025-083 2025-085
same conditioners
gy Co. accep 2025-095
controlli small home
64Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Ltd. ng appliances etc. tance
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
Sichuan
under the
Changho Juchao Website:
same Air
ng Sale Spot (www.cninfo.com.cn)
controlli conditioners Market November 29 2025
38 Minshen of 13.26 13.26 0.00% 4000 No excha —— Announcement No.
ng refrigerators price December 17 2025
g goods nge 2025-083 2025-085
sharehol etc.Logistics 2025-095
der and
Co. Ltd.ultimate
controlle
r
Sichuan Other Air Juchao Website:
Changho enterpris Sale conditioners Spot (www.cninfo.com.cn)
ng e control Market November 29 202539 of inverter 284.76 284.76 0.02% 4000 No excha —— Announcement No.Kuaiyidi under the integrated price December 17 2025goods nge 2025-083 2025-085
an same boards 2025-095
Electric controlli components
65Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Service ng remote
Co. Ltd. sharehol controllers
der and etc.ultimate
controlle
r
Other
enterpris
e control
Zhongjiu under the
Juchao Website:
Flash same
Sale Spot (www.cninfo.com.cn)
Medical controlli Air Market November 29 2025
40 of 87.94 87.94 0.01% 4500 No excha —— Announcement No.
Technolo ng conditioners price December 17 2025
goods nge 2025-083 2025-085
gy Co. sharehol
Ltd. der and
ultimate
controlle
r
Sichuan Other Juchao Website:
Huafeng enterpris Sale Spot (www.cninfo.com.cn)
e control Air Market November 29 202541 Technolo of 43.45 43.45 0.00% 4500 No excha —— Announcement No.under the conditioners price December 17 2025gy Co. goods nge 2025-083 2025-085
Ltd. same 2025-095
controlli
66Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
under the
Sichuan Kitchen and Juchao Website:
same
Changho Sale bathroom Spot (www.cninfo.com.cn)
controlli Market November 29 2025
42 ng Real of appliances 0.86 0.86 0.00% 4000 No excha —— Announcement No.
ng price December 17 2025
Estate goods small home nge 2025-083 2025-085
sharehol
Co. Ltd. appliances 2025-095
der and
ultimate
controlle
r
Guangdo Other
Spot Juchao Website:
ng enterpris Sale excha (www.cninfo.com.cn)
43 Changho e control
Air Market November 29 2025
of 57.51 57.51 0.00% 4000 No nge —— Announcement No.ng under the conditioners price December 17 2025goods bank 2025-083 2025-085
Electroni same
accep 2025-095
cs Co. controlli
67Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Ltd. ng tance
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
under the
Sichuan Printed circuit Juchao Website:
same
Aoku Sale board Spot (www.cninfo.com.cn)
controlli Market November 29 2025
44 Technolo of assemblies 1020.21 1020.21 0.06% 4500 No excha —— Announcement No.
ng price December 17 2025
gy Co. goods small home nge 2025-083 2025-085
sharehol
Ltd. appliances etc. 2025-095
der and
ultimate
controlle
r
Changho Other Printed circuit Juchao Website:
ng Huayi enterpris Sale board Spot (www.cninfo.com.cn)
45 Compres e control
Market November 29 2025
of assemblies 2.88 2.88 0.00% 100 No excha —— Announcement No.under the price December 17 2025sor Co. goods motors water nge 2025-083 2025-085
Ltd. same pumps 2025-095
controlli
68Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
under the
Sichuan Juchao Website:
same WIFI
Ailian Sale Spot (www.cninfo.com.cn)
controlli communicatio Market November 29 2025
46 Technolo of -0.49 -0.49 0.00% 4500 No excha —— Announcement No.
ng n cables WIFI price December 17 2025
gy Co. goods nge 2025-083 2025-085
sharehol modules
Ltd. 2025-095
der and
ultimate
controlle
r
Sichuan Other Juchao Website:
Hongsha enterpris Sale Spot (www.cninfo.com.cn)
ng e control Refrigerator Market November 29 202547 of 1.06 1.06 0.00% 4000 No excha —— Announcement No.Construc under the cabinets price December 17 2025goods nge 2025-083 2025-085
tion same 2025-095
Engineer controlli
69Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ing Co. ng
Ltd. sharehol
der and
ultimate
controlle
r
Other
enterpris
Sichuan
e control
Changho
under the
ng Juchao Website:
same
Precision Sale Spot (www.cninfo.com.cn)
controlli Market November 29 2025
48 Electroni of Sockets 54.37 54.37 0.00% 4000 No excha —— Announcement No.
ng price December 17 2025
c goods nge 2025-083 2025-085
sharehol
Technolo 2025-095
der and
gy Co.ultimate
Ltd.controlle
r
CHANG Other Juchao Website:
HONG( enterpris
Air
Sale Spot (www.cninfo.com.cn)
e control conditioners Market November 29 202549 HK)TRA of 96652.58 96652.58 6.04% 200000 No excha —— Announcement No.and their spare price December 17 2025
DINGLI under the goods nge 2025-083 2025-085
parts etc.MITED same 2025-095
controlli
70Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
CHANG
under the
HONGE Juchao Website:
same Refrigerators
LECTRI Sale Spot (www.cninfo.com.cn)
controlli freezers Market November 29 2025
50 C(AUST of 14159.97 14159.97 0.88% 200000 No excha —— Announcement No.
ng washing price December 17 2025
RALIA) goods nge 2025-083 2025-085
sharehol machines etc.PTY.LT 2025-095
der and
D.ultimate
controlle
r
Changho Other Juchao Website:
ng enterpris Sale Spot (www.cninfo.com.cn)
e control Market November 29 202551 Europe of Refrigerators 9547.19 9547.19 0.60% 30000 No excha —— Announcement No.under the price December 17 2025Electric goods nge 2025-083 2025-085
s.r.o same 2025-095
controlli
71Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
Changho e control
ng under the
Refrigerators Juchao Website:
Internati same
Sale freezers air Spot (www.cninfo.com.cn)
onal controlli Market November 29 2025
52 of conditioners 47126.59 47126.59 2.94% 140000 No excha —— Announcement No.
Holdings ng price December 17 2025
goods and their spare nge 2025-083 2025-085
(Hong sharehol
parts etc. 2025-095
Kong) der and
Co. Ltd. ultimate
controlle
r
Other Kitchen and
Sichuan Juchao Website:
enterpris Sale bathroomAichuan Spot (www.cninfo.com.cn)
53 e control of appliances
Market November 29 2025
g 23.08 23.08 0.00% 4500 No excha —— Announcement No.under the small price December 17 2025
Technolo goods nge 2025-083 2025-085
same household
gy Co. 2025-095
controlli appliances air
72Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Ltd. ng conditioners
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
Mianyan
under the
g Juchao Website:
same
Huafeng Sale Spot (www.cninfo.com.cn)
controlli Air Market November 29 2025
54 Hulian of 60.62 60.62 0.00% 4500 No excha —— Announcement No.
ng conditioners price December 17 2025
Technolo goods nge 2025-083 2025-085
sharehol
gy Co. 2025-095
der and
Ltd.ultimate
controlle
r
Mianyan Other Juchao Website:
g enterpris WashingSale Spot (www.cninfo.com.cn)
55 Hongshe e control
machines Market November 29 2025
of 0.97 0.97 0.00% 4000 No excha —— Announcement No.ngtai under the refrigerators price December 17 2025goods nge 2025-083 2025-085
Real same and freezers 2025-095
Estate controlli
73Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Co. Ltd. ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
Sichuan under the
Provi Property Juchao Website:
Changho same
sion management Spot (www.cninfo.com.cn)
ng Mold controlli Market November 29 2025
56 of services 196.21 196.21 2.70% 15000 No excha —— Announcement No.
Plastic ng price December 17 2025
servic warehousing nge 2025-083 2025-085
Tech. sharehol
es services etc. 2025-095
Co. Ltd. der and
ultimate
controlle
r
Sichuan Other Provi Property Spot Juchao Website:
Changho enterpris sion management excha (www.cninfo.com.cn)
e control Market November 29 202557 ng Jijia of services 34.73 34.73 0.48% 15000 No nge —— Announcement No.under the price December 17 2025Fine Co. servic warehousing bank 2025-083 2025-085
Ltd. same es services accep 2025-095
controlli
74Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng tance
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
Sichuan under the
Provi Juchao Website:
Aichuan same
sion Labor services Spot (www.cninfo.com.cn)
g controlli Market November 29 2025
58 of warehousing 13.88 13.88 0.19% 4500 No excha —— Announcement No.
Technolo ng price December 17 2025
servic services nge 2025-083 2025-085
gy Co. sharehol
es 2025-095
Ltd. der and
ultimate
controlle
r
Sichuan Other Provi Juchao Website:
enterpris InstallationHuafeng sion Spot (www.cninfo.com.cn)
e control services Market November 29 202559 Technolo of 99.28 99.28 1.36% 4500 No excha —— Announcement No.under the human price December 17 2025gy Co. servic nge 2025-083 2025-085
same resourcesLtd. es 2025-095
controlli
75Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
Sichuan under the
Provi Juchao Website:
Zhiyijia same
sion Technical Spot (www.cninfo.com.cn)
Network controlli Market November 29 2025
60 of services labor 2.13 2.13 0.03% 15000 No excha —— Announcement No.
Technolo ng price December 17 2025
servic services etc. nge 2025-083 2025-085
gy Co. sharehol
es 2025-095
Ltd. der and
ultimate
controlle
r
Sichuan Controlli Provi Juchao Website:
Changho ng sion Installation Spot (www.cninfo.com.cn)
61 ng Sharehol
Market November 29 2025
of services labor 144.33 144.33 1.98% 15000 No excha —— Announcement No.der and price December 17 2025Electric servic services nge 2025-083 2025-085
Co. Ltd. Ultimate es 2025-095
Controlle
76Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
r
Other
enterpris
e control
Mianyan
under the
g Provi Juchao Website:
same Technical
Huafeng sion Spot (www.cninfo.com.cn)
controlli services Market November 29 2025
62 Hulian of 72 72 0.99% 4500 No excha —— Announcement No.
ng maintenance price December 17 2025
Technolo servic nge 2025-083 2025-085
sharehol services
gy Co. es 2025-095
der and
Ltd.ultimate
controlle
r
Other
enterpris
e control
Changho under the Provi Juchao Website:
ng Huayi same sion Spot (www.cninfo.com.cn)Market November 29 2025
63 Compres controlli of Labor services 0.16 0.16 0.00% 100 No excha —— Announcement No.price December 17 2025
sor Co. ng servic nge 2025-083 2025-085
Ltd. sharehol es 2025-095
der and
ultimate
controlle
77Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
r
Other
enterpris
e control
Sichuan
under the
Changho Provi Maintenance Juchao Website:
same
ng sion services Spot (www.cninfo.com.cn)
controlli Market November 29 2025
64 Minshen of property 7.62 7.62 0.10% 15000 No excha —— Announcement No.
ng price December 17 2025
g servic management nge 2025-083 2025-085
sharehol
Logistics es services 2025-095
der and
Co. Ltd.ultimate
controlle
r
Other
enterpris
e control
Sichuan under the Provi Juchao Website:
Ailian same sion Spot (www.cninfo.com.cn)Warehousing Market November 29 2025
65 Technolo controlli of 0.16 0.16 0.00% 4500 No excha —— Announcement No.services price December 17 2025
gy Co. ng servic nge 2025-083 2025-085
Ltd. sharehol es 2025-095
der and
ultimate
controlle
78Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
r
Other
enterpris
e control
Sichuan
under the
Changho Provi Juchao Website:
same
ng sion Spot (www.cninfo.com.cn)
controlli Market November 29 2025
66 Xinwang of Labor services 9.15 9.15 0.13% 15000 No excha —— Announcement No.
ng price December 17 2025
Technolo servic nge 2025-083 2025-085
sharehol
gy Co. es 2025-095
der and
Ltd.ultimate
controlle
r
Other
Sichuan enterpris
Changho e control
under the Provi Juchao Website:ng Labor services
same sion Spot (www.cninfo.com.cn)Kuaiyidi property Market November 29 2025
67
an controlli
of 85.6 85.6 1.18% 15000 No excha —— Announcement No.management price December 17 2025
ng servic nge 2025-083 2025-085Electric services
Service sharehol
es 2025-095
Co. Ltd. der and
ultimate
controlle
79Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
r
Other
enterpris
e control
under the
Sichuan Provi Juchao Website:
same
Aoku sion Labor services Spot (www.cninfo.com.cn)
controlli Market November 29 2025
68 Technolo of technical 1.99 1.99 0.03% 4500 No excha —— Announcement No.
ng price December 17 2025
gy Co. servic services etc. nge 2025-083 2025-085
sharehol
Ltd. es 2025-095
der and
ultimate
controlle
r
Other
enterpris
Sichuan e control
Changho under the Provi Juchao Website:
ng same sion Spot (www.cninfo.com.cn)Maintenance Market November 29 2025
69 Internati controlli of 2.24 2.24 0.03% 4500 No excha —— Announcement No.services price December 17 2025
onal ng servic nge 2025-083 2025-085
Hotel sharehol es 2025-095
Co. Ltd. der and
ultimate
controlle
80Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
r
Other
enterpris
Changho e control
ng under the
Provi Juchao Website:
Internati same
sion Property Spot (www.cninfo.com.cn)
onal controlli Market November 29 2025
70 of management 12.16 12.16 0.17% 15000 No excha —— Announcement No.
Holdings ng price December 17 2025
servic services nge 2025-083 2025-085
(Hong sharehol
es 2025-095
Kong) der and
Co. Ltd. ultimate
controlle
r
Other
enterpris
Sichuan e control
Changho under the Provi Juchao Website:Packaging
ng same sion Spot (www.cninfo.com.cn)recycling and Market November 29 2025
71 Electroni controlli of 0.21 0.21 0.00% 15000 No excha —— Announcement No.sorting price December 17 2025
c ng servic nge 2025-083 2025-085services
Products sharehol es 2025-095
Co. Ltd. der and
ultimate
controlle
81Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
r
Other
enterpris
e control
Sichuan under the
Provi Juchao Website:
Changho same Technical
sion Spot (www.cninfo.com.cn)
ng controlli services Market November 29 2025
72 of 29.35 29.35 0.40% 4500 No excha —— Announcement No.
Property ng maintenance price December 17 2025
servic nge 2025-083 2025-085
Service sharehol services
es 2025-095
Co. Ltd. der and
ultimate
controlle
r
Sichuan Other
Changho enterpris
ng e control
under the Provi Juchao Website:Jiechuan
g same
sion Installation Spot (www.cninfo.com.cn)
Market November 29 2025
73 controlli of services labor 1.18 1.18 0.02% 4500 No excha —— Announcement No.Lithium price December 17 2025
ng servic services nge 2025-083 2025-085Battery
Technolo sharehol
es 2025-095
gy Co. der and
Ltd. ultimate
controlle
82Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
r
Other
enterpris
e control
Sichuan
under the
Changho Provi Juchao Website:
same
ng sion Spot (www.cninfo.com.cn)
controlli Market November 29 2025
74 Hongwei of Labor services 0.16 0.16 0.00% 15000 No excha —— Announcement No.
ng price December 17 2025
Technolo servic nge 2025-083 2025-085
sharehol
gy Co. es 2025-095
der and
Ltd.ultimate
controlle
r
Other
enterpris
Guangdo e control
ng under the Provi Juchao Website:
Changho same sion Spot (www.cninfo.com.cn)Installation Market November 29 2025
75 ng controlli of 1834.59 1834.59 25.20% 15000 No excha —— Announcement No.services price December 17 2025
Electroni ng servic nge 2025-083 2025-085
cs Co. sharehol es 2025-095
Ltd. der and
ultimate
controlle
83Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
r
Controlli
Sichuan ng Juchao Website:
Changho Sharehol Leasing of Spot (www.cninfo.com.cn)
Leasi Market November 29 2025
76 ng der and factories and 41.43 41.43 1.09% 6500 No excha —— Announcement No.
ng price December 17 2025
Electric Ultimate equipment nge 2025-083 2025-085
Co. Ltd. Controlle 2025-095
r
Other
enterpris
e control
Sichuan
under the
Changho Juchao Website:
same
ng Spot (www.cninfo.com.cn)
controlli Leasi Market November 29 2025
77 Electroni Warehouses 11.78 11.78 0.31% 6500 No excha —— Announcement No.
ng ng price December 17 2025
c nge 2025-083 2025-085
sharehol
Products 2025-095
der and
Co. Ltd.ultimate
controlle
r
Sichuan Other SpotLeasi Market November 29 2025 Juchao Website:
78 Changho enterpris Apartments 1.29 1.29 0.03% 6500 No excha ——ng price December 17 2025 (www.cninfo.com.cn)
ng e control nge Announcement No.
84Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Hongwei under the 2025-083 2025-085
Technolo same 2025-095
gy Co. controlli
Ltd. ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
under the
Sichuan Juchao Website:
same Leasing of
Changho Spot (www.cninfo.com.cn)
controlli Leasi apartments Market November 29 2025
79 ng Jijia 369.86 369.86 9.76% 6500 No excha —— Announcement No.
ng ng factories and price December 17 2025
Fine Co. nge 2025-083 2025-085
sharehol equipment
Ltd. 2025-095
der and
ultimate
controlle
r
Sichuan Other Leasi Leasing of Market Juchao Website:
80 0.32 0.32 0.01% 4500 No Spot
November 29 2025
Changho enterpris ——ng factories price excha December 17 2025
(www.cninfo.com.cn)
ng e control Announcement No.
85Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Educatio under the nge 2025-083 2025-085
n same 2025-095
Technolo controlli
gy Co. ng
Ltd. sharehol
der and
ultimate
controlle
r
Other
enterpris
Sichuan
e control
Changho
under the
ng Juchao Website:
same
Precision Spot (www.cninfo.com.cn)
controlli Leasi Leasing of Market November 29 2025
81 Electroni 24.18 24.18 0.64% 6500 No excha —— Announcement No.
ng ng factories price December 17 2025
c nge 2025-083 2025-085
sharehol
Technolo 2025-095
der and
gy Co.ultimate
Ltd.controlle
r
Sichuan Other Leasi Leasing of Market November 29 2025 Juchao Website:
82 Changho enterpris factories 29.69 29.69 0.78% 6500 No
Spot ——
ng price excha December 17 2025
(www.cninfo.com.cn)
ng e control apartments and Announcement No.
86Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Kuaiyidi under the offices nge 2025-083 2025-085
an same 2025-095
Electric controlli
Service ng
Co. Ltd. sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
Sichuan
under the Leasing of
Changho Juchao Website:
same apartments
ng Spot (www.cninfo.com.cn)
controlli Leasi offices Market November 29 2025
83 Minshen 79.07 79.07 2.09% 6500 No excha —— Announcement No.
ng ng factories and price December 17 2025
g nge 2025-083 2025-085
sharehol part of office
Logistics 2025-095
der and buildings
Co. Ltd.ultimate
controlle
r
Sichuan Other Leasi Leasing of Market Juchao Website:
84 924.47 924.47 24.39% 6500 No Spot
November 29 2025
Changho enterpris ——ng apartments price excha December 17 2025
(www.cninfo.com.cn)
ng Mold e control factories Announcement No.
87Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Plastic under the equipment and nge 2025-083 2025-085
Tech. same offices 2025-095
Co. Ltd. controlli
ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
Sichuan under the
Juchao Website:
Zhiyijia same
Spot (www.cninfo.com.cn)
Network controlli Leasi Leasing of Market November 29 2025
85 9.09 9.09 0.24% 6500 No excha —— Announcement No.
Technolo ng ng apartments price December 17 2025
nge 2025-083 2025-085
gy Co. sharehol
Ltd. der and
ultimate
controlle
r
Chengdu Other Lease Leasing of Market November 29 2025 Juchao Website:
86 Changho enterpris 10.67 10.67 0.28% 6500 No
Spot ——
-in offices price excha December 17 2025
(www.cninfo.com.cn)
ng e control Announcement No.
88Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Electroni under the nge 2025-083 2025-085
c same 2025-095
Technolo controlli
gy Co. ng
Ltd. sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
Chengdu
under the
Changho Juchao Website:
same
ng Spot (www.cninfo.com.cn)
controlli Lease Leasing of Market November 29 2025
87 Minshen 659.6 659.6 17.41% 6500 No excha —— Announcement No.
ng -in factories price December 17 2025
g nge 2025-083 2025-085
sharehol
Logistics 2025-095
der and
Co. Ltd.ultimate
controlle
r
081 Other Lease Factory Market November 29 2025 Juchao Website:
88 Electroni enterpris buildings and 3.19 3.19 0.08% 6500 No
Spot ——
-in price excha December 17 2025
(www.cninfo.com.cn)
c Group e control office Announcement No.
89Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Co. Ltd. under the buildings nge 2025-083 2025-085
same 2025-095
controlli
ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
under the
Sichuan Juchao Website:
same
Jiahong Leasing of Spot (www.cninfo.com.cn)
controlli Lease Market November 29 2025
89 Industria staff 17.95 17.95 0.47% 6000 No excha —— Announcement No.
ng -in price December 17 2025
l Co. dormitories nge 2025-083 2025-085
sharehol
Ltd. 2025-095
der and
ultimate
controlle
r
Sichuan Controlli Lease Leasing of Market Juchao Website:
90 192.87 192.87 5.09% 6500 No Spot
November 29 2025
Changho ng ——-in factories price excha December 17 2025
(www.cninfo.com.cn)
ng Sharehol Announcement No.
90Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Electric der and nge 2025-083 2025-085
Co. Ltd. Ultimate 2025-095
Controlle
r
Sichuan
Controlli
Changho
ng Juchao Website:
ng Leasing of
Sharehol Spot (www.cninfo.com.cn)
Electroni Lease retail outlets Market November 29 2025
91 der and 9.95 9.95 0.26% 400000 No excha —— Announcement No.
cs -in and staff price December 17 2025
Ultimate nge 2025-083 2025-085
Holding dormitories
Controlle 2025-095
Group
r
Co. Ltd.Other
enterpris
Sichuan e control
Juchao Website:
Zhiyijia under the
same Spot (www.cninfo.com.cn)Network Lease Leasing of Market November 29 2025
92 controlli 2.16 2.16 0.06% 6500 No excha —— Announcement No.Technolo -in offices price December 17 2025
ng nge 2025-083 2025-085gy Co.Ltd. sharehol
der and
ultimate
controlle
91Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
r
Other
enterpris
e control
under the
Changho Juchao Website:
same
ng Huayi Leasing of Spot (www.cninfo.com.cn)
controlli Lease Market November 29 2025
93 Compres staff 5.71 5.71 0.15% 70000 No excha —— Announcement No.
ng -in price December 17 2025
sor Co. dormitories nge 2025-083 2025-085
sharehol
Ltd. 2025-095
der and
ultimate
controlle
r
Other
enterpris
Sichuan e control Spot
Changho under the Juchao Website:Purch Production line excha
ng same (www.cninfo.com.cn)ase of renovation Market nge November 29 2025
94 Hongwei controlli 15.75 15.75 0.04% 600 No —— Announcement No.fixed information price bank December 17 2025
Technolo ng 2025-083 2025-085assets systems accep
gy Co. sharehol 2025-095tance
Ltd. der and
ultimate
controlle
92Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
r
Production line
transformation
construction of
Other
automated
Sichuan enterpris
three-dimensio
Changho e control
nal warehouse
ng under the Spot
for Juchao Website:
Intellige same Purch excha
compressors in (www.cninfo.com.cn)
nt controlli ase of Market nge November 29 2025
95 general 226.37 226.37 0.57% 6000 No —— Announcement No.
Manufac ng fixed price bank December 17 2025
material 2025-083 2025-085
turing sharehol assets accep
warehouse 2025-095
Technolo der and tance
automated
gy Co. ultimate
equipment
Ltd. controlle
matched with
r
injection
molding
machines
Other Acqu Server Juchao Website:
Sichuan enterpris isitio upgrading Spot (www.cninfo.com.cn)
Hongxin e control n and Market November 29 202596 information 321.28 321.28 0.81% 600 No excha —— Announcement No.Software under the const price December 17 2025management nge 2025-083 2025-085
Co. Ltd. same ructio systems 2025-095
controlli n of
93Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng fixed
sharehol assets
der and
ultimate
controlle
r
Other
enterpris
e control
Sichuan under the
Juchao Website:
Zhiyijia same Purch
Air Spot (www.cninfo.com.cn)
Network controlli ase of Market November 29 2025
97 conditioners 12.84 12.84 0.03% 600 No excha —— Announcement No.
Technolo ng fixed price December 17 2025
televisions nge 2025-083 2025-085
gy Co. sharehol assets
Ltd. der and
ultimate
controlle
r
Sichuan Other Non-standard Juchao Website:
Purch
Qiruike enterpris visual Spot (www.cninfo.com.cn)
e control ase of Market November 29 202598 Technolo intelligent 8.36 8.36 0.02% 6000 No excha —— Announcement No.under the fixed price December 17 2025gy Co. inspection nge 2025-083 2025-085
Ltd. same
assets
equipment 2025-095
controlli
94Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng
sharehol
der and
ultimate
controlle
r
Other
enterpris
e control
under the
Purch Juchao Website:
Sichuan same
ase of Spot (www.cninfo.com.cn)
Hongxin controlli Information Market November 29 2025
99 intan 144.81 144.81 0.37% 600 No excha —— Announcement No.
Software ng systems price December 17 2025
gible nge 2025-083 2025-085
Co. Ltd. sharehol
assets 2025-095
der and
ultimate
controlle
r
Other Juchao Website:
Yuanxin enterpris Yuan Spot (www.cninfo.com.cn)
Financial e control xin Bill financing Market November 29 2025100 132175.32 132175.32 450000 No excha —— Announcement No.Leasing under the leasin business price December 17 2025nge 2025-083 2025-085
Co. Ltd. same g 2025-095
controlli
95Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
ng
sharehol
der and
ultimate
controlle
r
Total -- -- 1065256.73 -- 2751400 -- -- -- -- --
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 2026 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 3.23 billion (excluding tax). The actual amount incurred during the reporting period was RMB 974.6379 million.the reporting period (if any)
2. It is estimated that in 2026 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 701 million (excluding tax). The actual amount incurred during the reporting period was RMB 285.7853 million.
3. It is estimated that in 2026 the amount of related party transactions for the Company to purchase or sell equipment software spare parts molds etc. from or to
Sichuan Changhong and its subsidiaries will not exceed RMB 6 million (excluding tax). The actual amount incurred during the reporting period was RMB 4.9468
million.
4. It is estimated that in 2026 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 12.26 billion (excluding tax). The actual amount incurred during the reporting period was RMB 5293.4375 million.
5. It is estimated that in 2026 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 65 million (excluding tax). The actual amount incurred during the reporting period was RMB 23.5935 million.
96Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
6. It is estimated that in 2026 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 1.2 billion (excluding tax). The actual amount incurred during the reporting period was RMB 595.754 million.
7. It is estimated that in 2026 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 520 million. The actual amount incurred during the reporting period was RMB 196.8616 million.
8. It is estimated that in 2026 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 162 million (excluding tax). The actual amount incurred during the reporting period was RMB 75.8022 million.
9. It is estimated that in 2026 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 60 million (excluding tax). The actual
amount incurred during the reporting period was RMB 14.5521 million.
10. It is estimated that in 2026 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 4.81
billion (excluding tax). The actual amount incurred during the reporting period was RMB 1865.4432 million.
11. It is estimated that in 2026 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 4.5 billion. The actual amount incurred during the reporting period was RMB 1321.7532 million.Reasons for significant differences between transaction
N/A
prices and market reference prices (if applicable)
97Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
(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
Range of Beginning Ending
daily Total
Related deposit balance Total deposits balance
Relationship deposit limit withdrawals
party interest (RMB during the
(RMB during the
(RMB
rates 10000) current period current period 10000)10000) (RMB
(RMB
10000)
10000)
Sichuan Other enterprise
Changhong control under the
0.25%-
Group same controlling 450000.00 421695.98 2849575.06 2828276.33 442994.7
2.0%
Finance Co. shareholder and
Ltd. ultimate controller
Credit facilities or other financial services
98Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Actual amount
Total amount
Related party Relationship Type of business incurred (RMB
(RMB 10000)
10000)
Other enterprise control under
Sichuan Changhong Group the same controlling Other financial services –
200000.0076102.07
Finance Co. Ltd. shareholder and ultimate bill issuance
controller
Other enterprise control under
Sichuan Changhong Group the same controlling Other financial services –
200000.0041890.03
Finance Co. Ltd. shareholder and ultimate bill discounting
controller
Other enterprise control under
Other financial services –
Sichuan Changhong Group the same controlling
issuance of letters of 2000.00 1837.55
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 2026 Semi-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.Note 4: At the 24th meeting of the 11th Board of Directors held on November 27 2025 and
the 3rd Extraordinary General Meeting of Shareholders held on December 16 2025 the Proposal
on Estimating Continuing Connected Transactions between the Company and Its Subsidiaries and
Sichuan Changhong Group Finance Co. Ltd. in 2026 was reviewed and approved. The estimated
amount of connected transactions involving financial services such as deposits loans credit lines
99Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
bill issuance bill discounting and letter of guarantee business between the Company and its
subsidiaries (excluding Zhongke Meiling and its subsidiaries) and Changhong Finance Company
in 2026 was determined.(VI) Transactions between the Company’s controlled financial company and related
parties
□Applicable √ Not applicable
The Company does not hold any controlling financial company and has no deposit loan
credit line or other financial businesses with connected parties.(VII) Other significant related party transactions
□Applicable √ Not applicable
XII. 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
The Company had no leasing projects generating profit or loss accounting for more than 10% of its
total profit during the reporting period.
100Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
(II) Significant guarantees
√ Applicable □ Not applicable
Unit: RMB 10000
External guarantees provided by the Company and its subsidiaries (excluding guarantees provided to subsidiaries)
Whether
Date of
it is a
Name of the disclosure of Actual
Guarantee Actual occurrence Type of Collateral Counter-guarantee Guarantee Whether guarantee
guaranteed announcements guarantee
limit date guarantee (if any) (if any) period performed for a
party related to the amount
related
guarantee limit
party
——————————————————————
Total actual external
Total approved external
guarantee amount
guarantee limit during the 0 0
incurred during the
reporting period (A1)
reporting period (A2)
Total actual external
Total approved external
guarantee balance at the
guarantee limit at the end of 0 0
end of the reporting
the reporting period (A3)
period (A4)
101Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Guarantees provided by the Company to its subsidiaries
Whether
Date of
it is a
Name of the disclosure of Actual
Guarantee Actual occurrence Type of Collateral Counter-guarantee Guarantee Whether guarantee
guaranteed announcements guarantee
limit date guarantee (if any) (if any) period performed for a
party related to the amount
related
guarantee limit
party
Joint and
several
June 20 2025 40000.00 Yes 1 year Yes No
liability
Announcements
guarantee
No. 2024-067
2024-068 Joint and
Hefei 2024-071 and several
70000.00 August 6 2025 10000.00 Yes 1 year No No
Meiling 2024-076 dated liability
Group December 12 guarantee
Holdings and December
Joint and
Limited 28 2024.several
August 11 2025 20000.00 Yes 1 year No No
liability
guarantee
Announcements Joint and
No. 2025-083 100000.00 June 11 2026 40000.00 several Yes 1 year No No
2025-087 and liability
102Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
2025-095 dated guarantee
November 29
and December
172025.
Joint and
several 11
April 23 2025 3000.00 Yes Yes No
liability months
guarantee
Announcements Joint and
No. 2024-067 3405.45 severalMay 26 2025 Yes 1 year Yes No
Note 1
Hefei 2024-068 liability
Changhong 2024-071 and guarantee
40000.00
Industrial 2024-076 dated Joint and
Co. Ltd. December 12 several
and December May 28 2025 5000.00 Yes 1 year No Noliability
28 2024. guarantee
Joint and
several 10
December 22 2025 3000.00 Yes No No
liability months
guarantee
103Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Joint and
several
December 23 2025 4903.851 Yes 1 year No No
liability
guarantee
Joint and
Announcements several
No. 2025-083 May 26 2026 3405.45 Yes 1 year No Noliability
2025-087 and guarantee
2025-095 dated 60000.00
November 29 Joint and
and December severalMarch 18 2026 3000.00 Yes 1 year No No
17 2025. liability
guarantee
Announcements
Mianyang No. 2025-083
Changhong 2025-087 and
Smart Home 2025-095 dated 20000.00 - - - - - - -
Appliances November 29
Co. Ltd. and December
172025.
Total approved guarantee limit 180000.00 Total actual guarantee 135714.75
for subsidiaries during the amount incurred for
104Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
reporting period (B1) subsidiaries during the
reporting period (B2)
Total actual guarantee
Total approved guarantee limit
balance for subsidiaries
for subsidiaries at the end of 290000.00 89309.30
at the end of the
the reporting period (B3)
reporting period (B4)
Guarantees provided by subsidiaries to their subsidiaries
Whether
Date of
it is a
Name of the disclosure of Actual
Guarantee Actual occurrence Type of Collateral Counter-guarantee Guarantee Whether guarantee
guaranteed announcements guarantee
limit date guarantee (if any) (if any) period performed for a
party related to the amount
related
guarantee limit
party
Announcements
No. 2024-067
Anhui 2024-068 Joint and
Tuoxing 2024-071 and several
3000.00 February 20 2025 1000.00 Yes 1 year Yes No
Technology 2024-076 dated liability
Co. Ltd. December 12 guarantee
and December
282024.
105Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Announcements
No. 2025-083
2025-087 and
2025-095 dated 1000.00 - - - - - - -
November 29
and December
172025.
Announcements
No. 2024-067
2024-068 Joint and
2024-071 and several
5000.00 February 20 2025 1000.00 Yes 1 year Yes No
2024-076 dated liability
Anhui December 12 guarantee
Ling’an and December
Medical 28 2024.Equipment Announcements
Co. Ltd. No. 2025-083
2025-087 and
2025-095 dated 2000.00 - - - - - - -
November 29
and December
172025.
Total approved guarantee limit 3000.00 Total actual guarantee 2000.00
106Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
for subsidiaries during the amount incurred for
reporting period (C1) subsidiaries during the
reporting period (C2)
Total actual guarantee
Total approved guarantee limit
balance for subsidiaries
for subsidiaries at the end of 11000.00 0.00
at the end of the
the reporting period (C3)
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
amount incurred during
during the reporting period 183000.00 137714.75
the reporting period
(A1+B1+C1)
(A2+B2+C2)
Total actual guarantee
Total approved guarantee limit
balance at the end of
at the end of the reporting 301000.00 89309.30
the reporting period
period (A3+B3+C3)
(A4+B4+C4)
Ratio of total guarantee balance (i.e. A4+B4+C4) to the
15.20%
Company’s net assets
Including:
Balance of guarantees provided to shareholders actual controllers
0
and their related parties (D)
107Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Balance of debt guarantees provided directly or indirectly to
86309.30
guaranteed parties with an 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) 86309.30
Explanation of cases where guarantee liabilities occurred during the
reporting period for guarantees not yet due or where there is
None
evidence indicating the possibility of joint and several repayment
obligations (if any)
Explanation of external guarantees provided in violation of
None
prescribed procedures (if any)
Note 1: For the purpose of currency consolidation the exchange rate used herein is USD to RMB at 6.8109 as of June 30 2026.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 3.01 billion; the total actual amount incurred was RMB 1377.1475 million; and the total
actual guarantee balance was RMB 893.093 million representing 15.20% of the Company’s net assets at the end of the latest reporting period.Explanation of guarantees provided in composite forms: N/A
(III) Entrusted wealth management
108Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
√ Applicable □ Not applicable
Unit: RMB 10000
Balance of entrusted wealth management Amount overdue and not
Product category Risk characteristics
during the reporting period recovered
Bank wealth
High safety good liquidity low risk prudent
management 163000.00 0type
products
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
Actual
Actual
recovery Overview
profit or
Type of of profit
of the
loss
entrusted or loss
matter
Name of entrusted Type of
Amount Investment during the
institution Risk characteristics Start date End date during the
and
institution (or trustee) products direction of funds
reporting
(or (RMB 10000) reporting
relevant
period inquiry
trustee) period
(RMB index (if
(RMB
10000) any)
10000)
High safety good Principal-pro
China Everbright Bank
Bank liquidity low risk tected with 43000.00 2026/1/12 2026/7/12 Others —— ——
Co. Ltd. Hefei Branch
prudent type floating
109Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
returns
High safety good Principal-pro
Bank of China Co. Ltd. liquidity low risk tected with
Bank 40000.00 2026/1/13 2026/1/30 Others 36.03 36.03
Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of China Co. Ltd. liquidity low risk tected with
Bank 8500.00 2026/1/13 2026/4/13 Others 41.72 41.72
Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 80000.00 2026/1/14 2026/1/30 Others 67.82 67.82
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 19000.00 2026/1/14 2026/1/23 Others 9.06 9.06
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 13500.00 2026/1/15 2026/1/30 Others 11.51 11.51
Ltd. Hefei Branch prudent type floating
returns
Bank of Hangzhou Co. Bank High safety good Principal-pro 20000.00 2026/1/15 2026/1/30 Others 16.28 16.28
110Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Ltd. Hefei Branch liquidity low risk tected with
prudent type floating
returns
High safety good Principal-pro
China Guangfa Bank liquidity low risk tected with
Bank 10000.00 2026/1/15 2026/4/15 Others 46.52 46.52
Co. Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 13500.00 2026/2/2 2026/2/27 Others 19.19 19.19
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 20000.00 2026/2/2 2026/2/27 Others 27.14 27.14
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 20000.00 2026/2/5 2026/2/13 Others 8.89 8.89
Ltd. Hefei Branch prudent type floating
returns
High safety good
Bank of Hangzhou Co. Principal-pro
Bank liquidity low risk
Ltd. Hefei Branch tected with
40000.00 2026/2/5 2026/2/28 Others 51.12 51.12
prudent type floating
111Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 40000.00 2026/2/5 2026/2/28 Others 51.12 51.12
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Huaxia Bank Co. liquidity low risk tected with
Bank 15000.00 2026/2/4 2026/2/27 Others 16.23 16.23
Limited Hefei Branch prudent type floating
returns
High safety good Principal-pro
Huaxia Bank Co. liquidity low risk tected with
Bank 10000.00 2026/2/6 2026/5/8 Others 9.41 9.41
Limited Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of China Co. Ltd. liquidity low risk tected with
Bank 10000.00 2026/2/3 2026/2/28 Others 13.96 13.96
Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of China Co. Ltd. liquidity low risk tected with
Bank 30000.00 2026/2/4 2026/2/28 Others 40.20 40.20
Hefei Branch prudent type floating
returns
China Bohai Bank Co. Bank High safety good Principal-pro 5000.00 2026/2/9 2026/5/14 Others 26.73 26.73
112Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Ltd. Hefei Branch liquidity low risk tected with
prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 13500.00 2026/3/2 2026/3/31 Others 22.26 22.26
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 20000.00 2026/3/2 2026/3/31 Others 31.48 31.48
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of China Co. Ltd. liquidity low risk tected with
Bank 40000.00 2026/3/3 2026/3/31 Others 63.69 63.69
Hefei Branch prudent type floating
returns
High safety good Principal-pro
Huaxia Bank Co. liquidity low risk tected with
Bank 15000.00 2026/3/4 2026/3/31 Others 4.71 4.71
Limited Hefei Branch prudent type floating
returns
High safety good
Dongguan Bank Co. Principal-pro
Bank liquidity low risk
Ltd. Hefei Branch tected with
10000.00 2026/3/5 2026/3/30 Others 12.28 12.28
prudent type floating
113Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
returns "Announc
ement on
High safety good Principal-pro
the
Bank of Hangzhou Co. liquidity low risk tected with
Bank 30000.00 2026/3/5 2026/3/22 Others 28.34 28.34 Company'
Ltd. Hefei Branch prudent type floating
s
returns
Investme
High safety good Principal-pro nt in
Bank of Hangzhou Co. liquidity low risk tected with Financia
Bank 25000.00 2026/3/5 2026/3/31 Others 36.12 36.12
Ltd. Hefei Branch prudent type floating l
returns Products
Using Its
High safety good Principal-pro
Own Idle
Bank of Hangzhou Co. liquidity low risk tected with
Bank 25000.00 2026/3/5 2026/3/31 Others 36.12 36.12 Funds"
Ltd. Hefei Branch prudent type floating
Announce
returns
ment
High safety good Principal-pro No.:：
China Minsheng Bank liquidity low risk tected with 2025-088
Bank 5000.00 2026/3/5 2026/3/31 Others 6.38 6.38
Co. Ltd. prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 13500.00 2026/4/2 2026/4/30 Others 21.49 21.49
Ltd. Hefei Branch prudent type floating
returns
Bank of Hangzhou Co. Bank High safety good Principal-pro 20000.00 2026/4/2 2026/4/30 Others 30.40 30.40
114Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Ltd. Hefei Branch liquidity low risk tected with
prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 20000.00 2026/4/3 2026/4/24 Others 23.34 23.34
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 20000.00 2026/4/3 2026/4/30 Others 30.01 30.01
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 60000.00 2026/4/3 2026/4/30 Others 90.02 90.02
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of China Co. Ltd. liquidity low risk tected with
Bank 10000.00 2026/4/3 2026/4/22 Others 10.36 10.36
Hefei Branch prudent type floating
returns
High safety good
Dongguan Bank Co. Principal-pro
Bank liquidity low risk 10000.00 2026/4/7 2026/4/29 Others 10.80 10.80
Ltd. Hefei Branch tected with
prudent type floating
115Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
returns
High safety good Principal-pro
Bank of China Co. Ltd. liquidity low risk tected with
Bank 50000.00 2026/4/8 2026/4/30 Others 56.71 56.71
Mianyang Branch prudent type floating
returns
High safety good Principal-pro
China Minsheng Bank liquidity low risk tected with
Bank 10000.00 2026/4/8 2026/4/30 Others 10.80 10.80
Co. Ltd. prudent type floating
returns
High safety good Principal-pro
China Everbright Bank liquidity low risk tected with
Bank 40000.00 2026/4/30 2026/10/30 Others / /
Co. Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 13500.00 2026/5/6 2026/5/29 Others 17.66 17.66
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 20000.00 2026/5/6 2026/5/29 Others 24.97 24.97
Ltd. Hefei Branch prudent type floating
returns
Dongguan Bank Co. Bank High safety good Principal-pro 10000.00 2026/5/8 2026/5/28 Others 9.82 9.82
116Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Ltd. Hefei Branch liquidity low risk tected with
prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 30000.00 2026/5/8 2026/5/21 Others 21.67 21.67
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 70000.00 2026/5/8 2026/5/29 Others 81.69 81.69
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
China Minsheng Bank liquidity low risk tected with
Bank 10000.00 2026/5/8 2026/5/29 Others 10.31 10.31
Co. Ltd. prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 50000.00 2026/6/4 2026/6/30 Others 72.24 72.24
Ltd. Hefei Branch prudent type floating
returns
High safety good
Bank of Hangzhou Co. Principal-pro
Bank liquidity low risk 30000.00 2026/6/4 2026/6/22 Others 30.01 30.01
Ltd. Hefei Branch tected with
prudent type floating
117Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
returns
High safety good Principal-pro
China Minsheng Bank liquidity low risk tected with
Bank 10000.00 2026/6/3 2026/6/30 Others 13.26 13.26
Co. Ltd. prudent type floating
returns
High safety good Principal-pro
Dongguan Bank Co. liquidity low risk tected with
Bank 10000.00 2026/6/4 2026/6/29 Others 11.87 11.87
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
China Zheshang Bank liquidity low risk tected with
Bank 20000.00 2026/6/5 2026/6/30 Others 27.52 27.52
Co. Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
China Zheshang Bank liquidity low risk tected with
Bank 30000.00 2026/6/5 2026/9/4 Others / /
Co. Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
China Everbright Bank liquidity low risk tected with
Bank 8000.00 2026/6/8 2026/12/8 Others / /
Co. Ltd. Hefei Branch prudent type floating
returns
Bank of Hangzhou Co. Bank High safety good Principal-pro 13500.00 2026/6/1 2026/6/30 Others 22.26 22.26
118Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Ltd. Hefei Branch liquidity low risk tected with
prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 20000.00 2026/6/1 2026/6/30 Others 31.48 31.48
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 32000.00 2026/1/6 2026/1/21 Others 25.43 25.43
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of
liquidity low risk tected with
Communications Co. Bank 5000.00 2026/1/23 2026/7/27 Others / /
prudent type floating
Ltd. Zhongshan Branch
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 9000.00 2026/2/4 2026/2/13 Others 4.29 4.29
Ltd. Hefei Branch prudent type floating
returns
High safety good
Bank of Hangzhou Co. Principal-pro
Bank liquidity low risk tected with 24000.00 2026/2/4 2026/2/25 Others 26.70 26.70Ltd. Hefei Branch
prudent type floating
119Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 5000.00 2026/3/4 2026/3/16 Others 3.18 3.18
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 16000.00 2026/3/4 2026/3/25 Others 17.80 17.80
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 7000.00 2026/3/4 2026/3/31 Others 10.01 10.01
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 10000.00 2026/4/3 2026/4/20 Others 9.01 9.01
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 10000.00 2026/4/3 2026/4/24 Others 11.13 11.13
Ltd. Hefei Branch prudent type floating
returns
Bank of Hangzhou Co. Bank High safety good Principal-pro 20000.00 2026/4/3 2026/4/30 Others 28.61 28.61
120Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Ltd. Hefei Branch liquidity low risk tected with
prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 15000.00 2026/5/8 2026/5/25 Others 13.51 13.51
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 30000.00 2026/5/8 2026/5/29 Others 33.38 33.38
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 50000.00 2026/6/3 2026/6/30 Others 71.53 71.53
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Ningbo Co. liquidity low risk tected with
Bank 3000.00 2026/6/29 2026/9/28 Others / /
Ltd. Shenzhen Branch prudent type floating
returns
Bank of High safety good Principal-pro
Communications Co. Bank liquidity low risk tected with 4000.00 2026/1/14 2026/3/31 Others 14.14 14.14
Ltd. Zhongshan Nanpu prudent type floating
121Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Sub-branch returns
High safety good Principal-pro
China Bohai Bank Co. liquidity low risk tected with
Bank 10000.00 2026/6/30 2026/9/30 Others / /
Ltd. Chengdu Branch prudent type floating
returns
High safety good Principal-pro
Huaxia Bank Co.liquidity low risk tected with
Limited Mianyang Bank 10000.00 2026/6/29 2026/8/7 Others / /
prudent type floating
Branch
returns
High safety good Principal-pro
China Guangfa Bank
liquidity low risk tected with
Co. Ltd. Zhongshan Bank 1000.00 2026/2/3 2026/4/7 Others 2.87 2.87
prudent type floating
Branch
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 3000.00 2026/1/9 2026/1/30 Others 3.18 3.18
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 6000.00 2026/2/6 2026/2/27 Others 6.35 6.35
Ltd. Hefei Branch prudent type floating
returns
Bank of Hangzhou Co. Bank High safety good Principal-pro 6000.00 2026/3/4 2026/3/31 Others 8.16 8.16
122Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Ltd. Hefei Branch liquidity low risk tected with
prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 6000.00 2026/4/3 2026/4/30 Others 8.37 8.37
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 6000.00 2026/5/8 2026/5/29 Others 6.51 6.51
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
Bank of Hangzhou Co. liquidity low risk tected with
Bank 6000.00 2026/6/3 2026/6/30 Others 8.58 8.58
Ltd. Hefei Branch prudent type floating
returns
High safety good Principal-pro
China Everbright Bank liquidity low risk tected with
Bank 4000.00 2026/1/7 2026/3/30 Others 16.10 16.10
Co. Ltd. Hefei Branch prudent type floating
returns
High safety good
China Everbright Bank Principal-pro
Bank liquidity low risk 4000.00 2026/3/31 2026/6/30 Others 18.87 18.87
Co. Ltd. Hefei Branch tected with
prudent type floating
123Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
returns
Huaxia Bank Co. High safety good Principal-pro
Limited Hefei liquidity low risk tected with
Bank 5000.00 2026/1/9 2026/4/9 Others 27.91 27.91
High-Tech Zone prudent type floating
Sub-branch returns
High safety good Principal-pro
China Bohai Bank Co. liquidity low risk tected with
Bank 5000.00 2026/2/6 2026/5/8 Others 26.16 26.16
Ltd. Chengdu Branch prudent type floating
returns
High safety good Principal-pro
China Minsheng Bank liquidity low risk tected with
Bank 6000.00 2026/4/9 2026/4/30 Others 6.35 6.35
Co. Ltd. prudent type floating
returns
High safety good Principal-pro
China Bohai Bank Co. liquidity low risk tected with
Bank 3000.00 2026/5/12 2026/6/12 Others 5.05 5.05
Ltd. Chengdu Branch prudent type floating
returns
High safety good Principal-pro
China Zheshang Bank liquidity low risk tected with
Bank 3000.00 2026/6/5 2026/6/30 Others 4.13 4.13
Co. Ltd. Hefei Branch prudent type floating
returns
Minsheng Bank Co. Bank High safety good Principal-pro 4000.00 2026/4/10 2026/7/10 其他 / /
124Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Ltd liquidity low risk tected with
prudent type floating
returns
High safety good Principal-pro
Chengdu Branch of liquidity low risk tected with
Bank 5000.00 2026/5/12 2026/8/月 12 其他 / /
Bohai Bank Co. Ltd prudent type floating
returns
High safety good Principal-pro
Chengdu Branch of liquidity low risk tected with
Bank 3000.00 2026/5/12 2026/11/12 其他 / /
Bohai Bank Co. Ltd prudent type floating
returns
High safety good Principal-pro
Hefei Branch of China
liquidity low risk tected with
Zheshang Bank Co. Bank 2000.00 2026/6/5 2026/9/月 4 其他 / /
prudent type floating
Ltd
returns
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 2026 Semi-Annual Report.Circumstances where the principal of entrusted wealth management is expected to be unrecoverable or other circumstances that may lead to
impairment
□ Applicable √ Not applicable
(IV) Other significant contracts
125Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
□Applicable √ Not applicable
The Company had no other significant contracts during the reporting period.
126Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
XIII. Registration Form of Activities Including Investor Research Communication and
Interviews during the Reporting Period
√ Applicable □ Not applicable
Main
Basic
Type of Discussion
Reception Reception Reception Information
Reception Time Reception Topics and
Location Method Target Index of
Target Provided
Research
Materials
http://www.cni
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XIV. Explanations of Other Significant Matters
√ Applicable □ Not applicable
1. On January 21 2026 Ms. Li Xia resigned from the positions of Vice President Chief
Compliance Officer General Counsel and all other positions due to a job transfer. She is now
employed by the controlling shareholder's related unit. Details were disclosed by the Company in
the form of an announcement (Announcement No. 2026-002) on January 22 2026 in the
designated information disclosure media Securities Times China Securities Journal and Juchao
Website (www.cninfo.com.cn).
2. 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. He still holds positions in the controlling shareholder's unit. Details were disclosed by the
Company in the form of an announcement (Announcement No. 2026-003 2026-004) on January
26 2026 in the designated information disclosure media Securities Times China Securities
Journal and Juchao Website (www.cninfo.com.cn).
128Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
3. On February 11 2026 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
the Company effective from the date of approval by the board of shareholders until the expiration
of the 11th Board of Directors’ term. At the 27th meeting of the 11th Board of Directors it was
approved to elect Mr. Li Xiaodong as the Chairman of the 11th Board of Directors effective from
the date of Board approval until the expiration of the 11th Board of Directors' term. Details were
disclosed by the Company in the form of an announcement (Announcement No. 2026-008
2026-009 and 2026-010) on February 11 2026 in the designated information disclosure media
Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn).
4. 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
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. To ensure the standardized
operation of the Company’s Board of Directors and in accordance with relevant provisions the
Company convened an Employee Representative Congress on April 1 2026 and elected Mr. Lu
Haiyang as the employee director of the 11th Board of Directors of the Company. His term of
office commences on the date of election and approval at this Employee Representative Congress
and expires upon the end of the term of the 11th Board of Directors. Details were disclosed by the
Company in the form of an announcement (Announcement No. 2026-014 2026-025) on April 3
2026 in the designated information disclosure media Securities Times China Securities Journal
and Juchao Website (www.cninfo.com.cn).
5. 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. Mr. Kou Huameng resigned from his position as Vice
President and all other positions due to a job transfer and now works at an entity of a connected
party. Due to work adjustment Mr. Wang Xiaocheng no longer served as Vice President of the
Company and is now employed by a subsidiary controlled by the Company. In accordance with
relevant provisions upon nomination by Mr. Tang Youdao President of the Company review and
approval at the 9th meeting of the Nomination Committee of the 11th Board of Directors and
deliberation and approval at the 28th meeting of the 11th Board of Directors the Company
appointed Mr. Huang Herong Mr. Tang Shenjie and Mr. Zhang Hao as Vice Presidents of the
Company. Their terms of office commence on the date of approval by the Board of Directors and
expire upon the end of the term of the 11th Board of Directors. Details were disclosed by the
Company in the form of an announcement (Announcement No. 2026-014 2026-026) on April 3
2026 in the designated information disclosure media Securities Times China Securities Journal
and Juchao Website (www.cninfo.com.cn).
129Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
6. On April 1 2026 and June 8 2026 upon deliberation at the 28th meeting of the 11th
Board of Directors and approval at the 2025 Annual General Meeting of Shareholders the 2025
Profit Distribution Proposal of the Company was approved. Based on 1007348217 shares of the
Company’s total share capital excluding 22575498 repurchased shares the Company will
distribute a cash dividend of RMB 2.10 (including tax) for every 10 shares held by all
shareholders. No stock dividend will be issued and no capital reserve will be converted into share
capital. On this basis the total cash dividend to be distributed amounts to RMB 211543125.57
(including tax). On June 16 2026 the Company disclosed the Announcement on the
Implementation of the 2025 Profit Distribution Plan and implemented the aforementioned profit
distribution plan. For detailed information the Company disclosed relevant content via
announcements (Announcement No. 2026-014 2026-016 2026-038 and 2026-039) on designated
information disclosure media including Securities Times China Securities Journal and Juchao
Website (www.cninfo.com.cn) on April 3 2026 June 9 2026 and June 16 2026.
7. On April 1 2026 and June 8 2026 upon deliberation at the 28th meeting of the 11th
Board of Directors and approval at the 2025 Annual General Meeting of Shareholders it was
agreed to reappoint Pan-China Certified Public Accountants LLP as the audit institution for the
Company’s 2026 financial statements and internal control for a term of one year. For detailed
information the Company disclosed relevant content via announcements (Announcement No.
2026-014 2026-017 and 2026-038) on designated information disclosure media including
Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn) on April 3
2026 and June 9 2026.
8. On April 1 2026 and June 8 2026 upon deliberation and approval at the 28th meeting of
the 11th Board of Directors and approval at the 2025 Annual General Meeting of Shareholders
the Company and its subsidiaries are permitted to conduct forward foreign exchange transaction
business during the period from July 1 2026 to June 30 2027 mainly including forward foreign
exchange transactions RMB foreign exchange swaps RMB foreign exchange options
non-deliverable forward foreign exchange transactions and other foreign exchange derivative
transactions. The total transaction volume shall not exceed USD 2.222 billion (mainly including
US dollars Australian dollars and euros; all other foreign currencies shall be converted into US
dollars). The maximum settlement period for a single transaction shall not exceed one year. For
detailed information the Company disclosed relevant content via announcements (Announcement
No. 2026-014 2026-019 and 2026-038) on designated information disclosure media including
Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn) on April 3
2026 and June 8 2026.
9. On April 1 2026 and June 8 2026 upon deliberation and approval at the 28th meeting of
the 11th Board of Directors and approval at the 2025 Annual General Meeting of Shareholders
the Company and its subsidiaries are allowed to apply to Industrial Bank Co. Ltd. Hefei Branch
130Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
for a special bill pool credit line of up to RMB 600 million with a credit term of 2 years. For
detailed information the Company disclosed relevant content via announcements (Announcement
No. 2026-014 2026-021 and 2026-038) on designated information disclosure media including
Securities Times China Securities Journal and Juchao Website (www.cninfo.com.cn) on April 3
2026 and June 8 2026.
10. On April 1 2026 and June 8 2026 upon deliberation and approval at the 28th meeting of
the 11th Board of Directors and approval at the 2025 Annual General Meeting of Shareholders
the Company formulated the Remuneration Management System for Directors and Senior
Management of the Company and the 2026 Director Remuneration Plan. For detailed information
the Company disclosed relevant content via announcements (Announcement No. 2026-014
2026-023 and 2026-038) on designated information disclosure media including Securities Times
China Securities Journal and Juchao Website (www.cninfo.com.cn) on April 3 2026 and June 8
2026.
11.On April 21 2026 the 29th meeting of the 11th Board of Directors of the company
passed a resolution agreeing to appoint Mr. Lu Haiyang as the company's Chief Compliance
Officer. The term of office will commence from the date of the resolution being passed at the 29th
meeting of the 11th Board of Directors and end on the date when the term of the 11th Board of
Directors comes to an end. The detailed information was disclosed by the company on April 21
2026 in the form of announcements (Announcements No. 2026-028 and No. 2026-031) on the
designated information disclosure media including Securities Times China Securities Journal
and CNINFO (www.cninfo.com.cn)
12. On May 27 2026 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 29 to May 31 2026. Details
were disclosed by the Company in the form of an announcement (Announcement No. 2026-036)
on May 27 2026 in the designated information disclosure media Securities Times China
Securities Journal and Juchao Website (www.cninfo.com.cn).XV. Significant Matters of the Company’s Subsidiaries
√ Applicable □ Not applicable
On May 18 2026 and June 8 2026 the 30th meeting of the 11th Board of Directors and the
2025 Annual General Meeting of Shareholders reviewed and approved the Proposal on
Subsidiary Suspending Investment and Construction of the Smart Home Appliance Industrial Park
131Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Project by the Subsidiary. In light of changes in the market environment and the Company’s
production and operation plan to effectively control investment risks and follow the principle of
prudence the investment schedule shall be adjusted and the investment and construction of the
Hefei Changhong Smart Home Appliance Industrial Park Project shall be suspended. Meanwhile
the Chairman of the Company is authorized to launch the project construction in a timely manner
based on market demand and the Company’s capacity utilization.For detailed information the Company disclosed relevant content via announcements
(Announcement No. 2026-033 2026-034 and 2026-038) on designated information disclosure
media including Securities Times China Securities Journal and Juchao Website
(www.cninfo.com.cn) on May 19 2026 and June 8 2026.
132Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
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
Issua Capital
nce reserve
Share
Proporti of convers Proportio
Number divide Others Subtotal Number
on new ion to n
nds
share share
s capital
I. Shares
subject to 6213237 0.60% +231780 +231780 6445017 0.63%
selling
restrictions
1.
State-owned 0 0.00% 0 0 0 0.00%
shares
2. Shares
held by 1141053 0.11% 0 0 1141053 0.11%
state-owned
legal persons
3. Shares
held by other 5072184 0.49% +231780 +231780 5303964 0.52%
domestic
investors
Including:
Shares held by 3363539 0.33% 0 0 3363539 0.33%
domestic legal
persons
Shares
held by 1708645 0.16% +231780 +231780 1940425 0.19%
domestic
natural persons
4. Shares
held by foreign 0 0.00% 0 0 0 0.00%
investors
Including:
Shares held by 0 0.00% 0 0 0 0.00%
overseas legal
persons
Shares
held by 0 0.00% 0 0 0 0.00%
overseas natural
persons
II. Shares not 1023710478 99.40% -231780 -231780 1023478698 99.37%
subject to
133Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
selling
restrictions
1. RMB 875520644 85.01% -231780 -231780 875288864 84.98%
ordinary shares
2.
Domestically 148189834 14.39% 0 0 148189834 14.39%
listed foreign
shares
3. Overseas
listed foreign 0 0.00% 0 0 0 0.00%
shares
4. Others 0 0.00% 0 0 0 0.00%
III. Total 100.00
number of 1029923715 0 0 1029923715 100.00%%
shares
1. Reasons for changes in shares
√ Applicable □ Not applicable
(1) On January 22 2026 Ms. Li Xia ceased to serve as Vice President of the Company due to
job adjustment. His original term was scheduled to expire on June 18 2027. In accordance with
the Rules on the Management of Shares Held by Directors and Senior Executives of Listed
Companies and Changes Thereof 75% of the shares held by Ms. Li Xia before his resignation
namely 310950 shares are restricted shares. As at the end of this report less than six months
have elapsed since Ms. Li Xia’s resignation so the remaining 25% of his total shareholding
namely 103650 shares are locked. At present all shares of the Company held by Ms. Li Xia are
locked.
(2) On January 27 2026 Mr. Wu Dinggang ceased to serve as Director and Chairman of the
11th Board of Directors of the Company due to job transfer. His original term was scheduled to
expire on June 18 2027. In accordance with the Rules on the Management of Shares Held by
Directors and Senior Executives of Listed Companies and Changes Thereof 75% of the shares
held by Mr. Wu Dinggang before his resignation namely 427875 shares are restricted shares. As
at the end of this report less than six months have elapsed since Mr. Wu Dinggang’s resignation
so the remaining 25% of his total shareholding namely 142625 shares are locked. At present all
shares of the Company held by Mr. Wu Dinggang are locked.
(3) On April 3 2026 Mr. Hu Zhaogui ceased to serve as Vice President of the Company due
to job adjustment. His original term was scheduled to expire on June 18 2027. In accordance with
the Rules on the Management of Shares Held by Directors and Senior Executives of Listed
Companies and Changes Thereof 75% of the shares held by Mr. Hu Zhaogui before his
resignation namely 133537 shares are restricted shares. As at the end of this report less than six
months have elapsed since Mr. Hu Zhaogui’s resignation so the remaining 25% of his total
134Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
shareholding namely 44513 shares are locked. At present all shares of the Company held by Mr.Hu Zhaogui are locked.
(4) On April 3 2026 Mr. Wang Xiaocheng ceased to serve as Vice President of the Company
due to job adjustment. His original term was scheduled to expire on June 18 2027. In accordance
with the Rules on the Management of Shares Held by Directors and Senior Executives of Listed
Companies and Changes Thereof 75% of the shares held by Mr. Wang Xiaocheng before his
resignation namely 108 shares are restricted shares. As at the end of this report less than six
months have elapsed since Mr. Wang Xiaocheng’s resignation so the remaining 25% of his total
shareholding namely 36 shares are locked. At present all shares of the Company held by Mr.Wang Xiaocheng are locked.
(5) On November 27 2025 Mr. Zhong Ming ceased to serve as Director of the 11th Board of
Directors of the Company due to job change. His original term was scheduled to expire on June
18 2027. In accordance with the Rules on the Management of Shares Held by Directors and
Senior Executives of Listed Companies and Changes Thereof all shares held by him shall be
locked within six months after resignation. As at the end of this report more than six months have
passed since Mr. Zhong Ming’s resignation. Pursuant to the Rules 25% of his total shareholding
namely 59044 shares have been unlocked and the remaining 75% of shares shall remain locked
during his original term and within six months after the expiry of such term.
2 Approval of changes in shares
□Applicable √ Not applicable
3. Transfer of shares resulting from changes
□Applicable √ Not applicable
4. Progress of share repurchase implementation
√ Applicable □ Not applicable
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
135Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
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.On July 15 2025 the Company conducted its first A-share repurchase through a dedicated
stock repurchase securities account via centralized bidding. As at May 7 2026 the term for the
Company’s share repurchase expired. During the period from July 15 2025 to May 7 2026 the
Company repurchased a total of 22575498 A-shares of the Company through the special
securities account for share repurchase via centralized bidding transactions accounting for 2.19%
of the Company’s total share capital. The highest transaction price for this repurchase was RMB
7.45 per share the lowest transaction price was RMB 5.60 per share and the total transaction
amount reached RMB 150020980 (excluding transaction fees). The lower limit of repurchase
funds specified in the repurchase plan has been reached without exceeding the upper limit of total
repurchase funds. The share repurchase plan of the Company has been fully implemented.Found more on appointed media Securities Times China Securities Journal and Juchao
Website (www.cninfo.com.cn) that the Company disclosed in the form of announcement
(Announcement No.: 2025-019 2025-031 2025-032 2025-041 2025-043 2025-049 2025-050
2025-0512025-0522025-0532025-0612025-0692025-0762025-0932026-0012026-006
2026-011 2026-012 2026-013 and 2026-032) on April 10 2025 May 9 2025 June 5 2025
July 2 2025 July 4 2025 July 16 2025 and August 5 September 3 October 11 November 5
December 3 2025 and January 6 February 4 March 4 March 28 April 2 May 8 2026.
5. Progress of reducing repurchased shares through centralized bidding
□Applicable √ Not applicable
6. 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
7. Other contents deemed necessary by the Company or required to be disclosed by
securities regulatory authorities
□Applicable √ Not applicable
(II) Changes in restricted shares
√ Applicable □ Not applicable
Unit: Shares
136Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Number of Number of
Decrease in Increase in
restricted restricted Date of
Name of restricted restricted Reason for
shares at the shares at the release from
shareholder shares during shares during restriction
beginning of end of the restriction
the period the period
the period period
Additional
Restricted share
shares held restrictions
Wu
427875 0 142625 570500 by resigned imposed in
Dinggang
senior accordance
management with
regulations
Additional
Restricted share
shares held restrictions
Hu Zhaogui 133537 0 44513 178050 by resigned imposed in
senior accordance
management with
regulations
Additional
Restricted share
shares held restrictions
Li Xia 310950 0 103650 414600 by resigned imposed in
senior accordance
management with
regulations
Restricted Additional
Wang
108 0 36 144 shares held share
Xiaocheng
by resigned restrictions
137Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
senior imposed in
management accordance
with
regulations
Released
Restricted
from
shares held
restriction in
Zhong Ming 236175 59044 0 177131 by resigned
accordance
senior
with
management
regulations
Total 1108645 59044 290824 1340425 -- --
II. Issuance and Listing of Securities
□Applicable √ Not applicable
III. Number of Shareholders and Shareholding
Unit: Shares
Total number of ordinary Total number of preferred shareholders
shareholders at the end of the 63379 with restored voting rights at the end of 0
reporting period the reporting period (if any) (see Note 8)
Shareholding of shareholders holding more than 5% or the top 10 shareholders (excluding shares lent through securities
lending)
Numbe Pledge
r of marking or
Number of shares Number of freezing status
Nature Changes
Sharehol shares held at subject shares not
of during the
Name of shareholder ding the end of the to subject to
shareh reporting Status
Ratio reporting restrict restricted Num
olders period of
period ed conditions ber
shares
conditi
ons
State-o
Sichuan Changhong
wned 24.12% 248457724 0 0 248457724 - -
Electric Co. Ltd.legal
138Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
person
Overse
Hong Kong
as
Securities Clearing 2.85% 29323981 -3069164 0 29323981 - -
legal
Company Limited
person
Overse
CHANGHONG
as
(HK) TRADING 2.63% 27077797 0 0 27077797 - -
legal
LIMITED
person
State-o
Hefei Industry
wned
Investment Holding 1.83% 18864896 0 0 18864896 - -
legal
(Group) Co. Ltd.person
Overse
CAO as
1.43%147660860014766086--
SHENGCHUN natural
person
Domes
tic
Wang Jialing 1.18% 12200018 0 0 12200018 - -
natural
person
Domes
tic
Bank of China Co.non-sta
Ltd. – Bosera CSI
te-own 1.16% 11926602 +11926602 0 11926602 - -
Dividend Low
ed
Volatility 100 ETF
legal
person
Domes
tic
# Li Tao 0.92% 9500000 +3500000 0 9500000 - -
natural
person
Bank of Domes
Communications tic
Co. Ltd. – Invesco non-sta
0.92%9492300+949230009492300--
Great Wall CSI te-own
Dividend Low ed
Volatility 100 ETF legal
139Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
person
Domes
Guotai Haitong tic
Securities Co. Ltd. non-sta
– Tianhong CSI te-own 0.88% 9048300 +9048300 0 9048300 - -
Dividend Low ed
Volatility 100 ETF 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 Company’s B shares Hong Kong Changhong also holds 6296913 B shares
Explanation of related-party
of the Company through Phillip Securities (Hong Kong) Limited. Sichuan Changhong
relationships or
and Hong Kong Changhong have a related party relationship and constitute
acting-in-concert arrangements
acting-in-concert parties. The Company is unaware of whether there are any related party
among the above shareholders
relationships among other shareholders and also unaware whether other shareholders
constitute acting-in-concert parties as defined in the Administrative Measures for the
Takeover of Listed Companies.Explanation of
entrusted/authorized voting
rights and waiver of voting N/A
rights involving the above
shareholders
Special notes on repurchase As at the end of this reporting period the Company has repurchased a total of 22575498
accounts among the top 10 A-shares through the special securities account for share repurchase via centralized
shareholders (if any) bidding transactions accounting for 2.19% 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 unrestricted shares Type of shares
Name of shareholder held at the end of the reporting
period Type of shares Number
RMB ordinary
Sichuan Changhong Electric Co. Ltd. 248457724 248457724
shares
140Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Hong Kong Securities Clearing Company RMB ordinary
2932398129323981
Limited shares
Domestically
CHANGHONG (HK) TRADING
27077797 listed foreign 27077797
LIMITED
shares
Hefei Industry Investment Holding RMB ordinary
1886489618864896
(Group) Co. Ltd. shares
Domestically
CAO SHENGCHUN 14766086 listed foreign 14766086
shares
RMB ordinary
Wang Jialing 12200018 12200018
shares
Bank of China Co. Ltd. – Bosera CSI RMB ordinary
1192660211926602
Dividend Low Volatility 100 ETF shares
RMB ordinary
# Li Tao 9500000 9500000
shares
Bank of Communications Co. Ltd. –
RMB ordinary
Invesco Great Wall CSI Dividend Low 9492300 9492300
shares
Volatility 100 ETF
Guotai Haitong Securities Co. Ltd. –
RMB ordinary
Tianhong CSI Dividend Low Volatility 9048300 9048300
shares
100 ETF
Explanation on affiliated relations or
concerted action between the top 10See the related explanation under “Shareholding of shareholders holding moreunrestricted shareholders and between thethan 5% or the top 10 shareholders”.top 10 unrestricted shareholders and the
top 10 shareholders
Explanation of participation by the top 10
ordinary shareholders in margin financing N/A
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
141Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
China Securities Depository and Clearing Corporation Limited.Information on share lending under securities lending business by shareholders holding more
than 5% shares the top 10 shareholders and the top 10 unrestricted tradable shareholders
□ 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
□ 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.IV. Changes in Shareholdings of Directors and Senior Management
□Applicable √ Not applicable
No changes occurred in the shareholdings of the Company’s directors and senior management
during the reporting period. Please refer to the 2025 Annual Report for details.V. Changes in Controlling Shareholder orActual Controller
(I) 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.(II) 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.VI. Matters Relating to Preferred Shares
□Applicable √ Not applicable
During the reporting period the Company had no preferred shares.
142Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Section VII Bond Related Situation
□Applicable √ Not applicable
143Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
Section VIII Financial Report
I. Audit Report
Whether the semi-annual report has been audited
□ Yes √ No
The Company’s semi-annual financial report has not been audited.II. Financial Statements
The amounts in the notes to the financial statements are presented in RMB.
1. Consolidated balance sheet
Prepared by: Changhong Meiling Co. Ltd.June 30 2026
Unit: RMB
Items Ending balance Beginning balance
Current Assets:
Cash and cash equivalents 9901859533.92 10186661869.94
Settlement reserve
Funds lent
Trading financial assets 2026756891.42
Derivative financial assets 81257789.17 61841784.71
Notes receivable 28190937.25
Accounts receivable 4647761706.96 2014944491.33
Accounts receivable financing 681373678.19 409930586.39
Prepayments 80981428.92 92667517.48
Premiums receivable
Reinsurance receivables
Reinsurance contract reserves
receivable
Other receivables 65006650.70 41558190.51
Including: Interest receivable
Dividends receivable
Financial assets purchased under
resale agreements
Inventory 2448356149.30 2079744997.60
Including: Data resourcesFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.Contract assets 652939.38 725425.50
Assets held for sale
Non-current Assets Due within One
Year 1107686249.50 659796120.71
Other Current Assets 512304146.04 372910923.88
Total current assets 21582188100.75 15920781908.05
Non-Current Assets:
Loans and advances
Debt Investments 836261044.76 1661029964.49
Other debt investments
Long-term receivables
Long-term Equity Investments 87542404.25 88148806.34
Other equity instrument investments
Other Non-current Financial Assets 664675738.52 661832269.76
Investment Properties 60220380.73 63387835.97
Fixed assets 2299091087.44 2276129362.07
Construction in progress 207909169.42 127282346.90
Productive biological assets
Oil and gas assets
Right-of-use assets 122827599.23 132921569.77
intangible assets 1108550642.41 1031493131.01
Including: Data resources
Development Expenditures 139501900.39 158231792.93
Including: Data resources
Goodwill
Long-term Deferred Expenses 31201914.30 26427371.81
Deferred tax assets 137103186.07 128269696.72
Other Non-current Assets 15510325.77 26856492.34
Total non-current assets 5710395393.29 6382010640.11
Total assets 27292583494.04 22302792548.16
Current Liabilities:
Short-term borrowings 812892109.74 810099931.94
Borrowings from central bank
Funds borrowed
Trading financial liabilities
Derivative financial liabilities 65264252.08 38804849.55
Notes payable 9491511648.19 7004658556.59
Accounts payable 8038508445.54 4934324141.76
Advances Received 32214.87 20340.81
Contract liabilities 386682003.13 871792341.16Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.Financial assets sold under repurchase
agreements
Deposits and interbank placements
Securities sold for clients
Securities underwriting payables
Employee Benefits Payable 320457977.70 382124656.03
Taxes payable 107934179.07 63147720.26
Other payables 1194049443.09 1154695090.66
Including: Interest payable
Dividends payable 8427733.48 7492505.08
Fees and commissions payable
Reinsurance payables
Liabilities held for sale
Non-current Liabilities Due within
One Year 49232153.42 46005202.83
Other current liabilities 21257222.91 54001977.67
Total current liabilities 20487821649.74 15359674809.26
Non-Current Liabilities:
Insurance contract reserves
Long-term Borrowings 135067500.00 111178667.25
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 102667349.71 114402511.69
Long-term Payables 30287.50 117944.72
Long-term Employee Benefits Payable 8594486.68 9021087.36
Estimated liabilities 34599619.89 33463947.66
Deferred income 192409860.27 139056707.76
Deferred tax liabilities 44730062.17 44604488.14
Other non-current liabilities
Total non-current liabilities 518099166.22 451845354.58
Total Liabilities 21005920815.96 15811520163.84
Owners’ equity:
Share capital 1029923715.00 1029923715.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital Reserves 2749778298.08 2749778298.08
Less: Treasury shares 150036041.38 86960746.82Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.Other Comprehensive Income -26774419.59 -23780049.29
Special Reserve 50014420.84 38391282.14
Surplus Reserves 551363051.46 551363051.46
General risk reserves
Undistributed Profits 1671272834.66 1824833314.77
Total equity attributable to owners of the
parent company 5875541859.07 6083548865.34
Minority Interests 411120819.01 407723518.98
Total owners’ equity 6286662678.08 6491272384.32
Total liabilities and owners’ equity 27292583494.04 22302792548.16
Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting
department: Hu Xiangfei
2. Parent company balance sheet
Unit: RMB
Items Ending balance Beginning balance
Current Assets:
Cash and cash equivalents 3966662042.43 5227412310.50
Trading financial assets 1214921333.33
Derivative financial assets 20805463.24 16474431.94
Notes receivable 8938678.25
Accounts receivable 2492314423.04 1554041336.79
Accounts receivable financing 398079480.11 225674059.90
Prepayments 64280495.78 73951074.09
Other receivables 76844638.52 51935773.67
Including: Interest receivable
Dividends receivable
Inventory 720576405.66 576351186.23
Including: Data resources
Contract assets 616939.38
Assets held for sale
Non-current Assets Due within One 755237152.77 374350138.90
Year
Other Current Assets 88549164.75 72693514.63
Total current assets 9807826217.26 8172883826.65
Non-Current Assets:
Debt Investments 40721125.00 629248972.23
Other debt investments
Long-term receivablesFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.Long-term Equity Investments 2258720760.32 2160381891.11
Other equity instrument investments
Other Non-current Financial Assets 637838409.29 634994940.53
Investment Properties 2812900.88 2917327.20
Fixed assets 1143027755.55 1137595333.42
Construction in progress 102995775.64 81739990.71
Productive biological assets
Oil and gas assets
Right-of-use assets 10115137.22 11061533.67
intangible assets 412742205.51 412054635.76
Including: Data resources
Development Expenditures 55076589.95 56318184.77
Including: Data resources
Goodwill
Long-term Deferred Expenses 17024198.87 13512702.32
Deferred tax assets 55917823.66 55955783.77
Other Non-current Assets 738649.57 638649.57
Total non-current assets 4737731331.46 5196419945.06
Total assets 14545557548.72 13369303771.71
Current Liabilities:
Short-term borrowings 730000000.00 790087037.50
Trading financial liabilities
Derivative financial liabilities 16510766.33 9617770.37
Notes payable 3643287983.83 3054844738.48
Accounts payable 2567147477.19 2230669156.46
Advances Received
Contract liabilities 160274139.72 245110743.84
Employee Benefits Payable 105235357.19 135022614.12
Taxes payable 9424649.44 11100484.90
Other payables 1762179024.70 1220597373.30
Including: Interest payable
Dividends payable 7827733.48 6892505.08
Liabilities held for sale
Non-current Liabilities Due within 9352724.62 7908582.45
One Year
Other current liabilities 7048343.47 6984980.72
Total current liabilities 9010460466.49 7711943482.14
Non-Current Liabilities:
Long-term Borrowings 135067500.00 103556925.00
Bonds payableFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.Including: Preferred shares
Perpetual bonds
Lease liabilities 10123190.63 11100858.46
Long-term Payables
Long-term Employee Benefits Payable 3679767.10 4283925.97
Estimated liabilities 3162370.46 4708371.09
Deferred income 135410079.62 107099909.97
Deferred tax liabilities 17250243.88 15601084.71
Other non-current liabilities
Total non-current liabilities 304693151.69 246351075.20
Total Liabilities 9315153618.18 7958294557.34
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 150036041.38 86960746.82
Other Comprehensive Income
Special Reserve 2030333.80 1079820.26
Surplus Reserves 551144885.78 551144885.78
Undistributed Profits 1195565504.60 1314046007.41
Total owners’ equity 5230403930.54 5411009214.37
Total liabilities and owners’ equity 14545557548.72 13369303771.71
Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting
department: Hu Xiangfei
3. Consolidated income statement
Unit: RMB
Items First Half of 2026 First Half of 2025
I. Total operating revenue 16136185712.66 18071515842.15
Including: Operating revenue 16136185712.66 18071515842.15
Interest income
Earned premiums
Fee and commission income
II. Total operating costs 16095434183.08 17588399482.97
Including: Operating cost 14816913442.28 16184229553.79
Interest expense
Fee and commission expense
Surrender paymentsFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.Net claims expense
Net amount of withdrawal of insurance reserve
Policyholder dividends paid
Reinsurance expenses
Taxes and Surcharges 57455066.46 58989367.55
Selling Expenses 775819306.22 834522622.88
Administrative Expenses 154555537.78 196789198.82
Research and Development Expenses 336949131.17 324890915.17
Financial Expenses -46258300.83 -11022175.24
Including: Interest expenses 20734965.36 16981902.08
Interest income 53389019.64 71912776.32
Add: Other Income 42667689.12 80223527.31
Investment income (losses indicated with “–”) 56667905.56 -1925678.15
Including: Share of profit of associates and joint ventures 3222525.84 3878898.03
Gains on derecognition of financial assets measured -6861595.42 -18998835.41
at amortized cost
Foreign exchange gains (losses indicated with “–”)
Net hedging gains (losses indicated with “–”)
Gains from changes in fair value (losses indicated with “–”) 2556962.11 82283850.82
Credit impairment losses (losses indicated with “–”) -20989673.72 -68032093.37
Asset impairment losses (losses indicated with “–”) -50241360.32 -65475481.29
Gains on disposal of assets (losses indicated with “–”) 9849.97 108659.65
III. Operating profit (losses indicated with “–”) 71422902.30 510299144.15
Add: Non-operating Income 13586541.32 2294086.26
Less: Non-operating Expenses 848297.31 2468650.99
IV. Total profit (total losses indicated with “–”) 84161146.31 510124579.42
Less: Income tax expenses 18630091.67 80681854.99
V. Net profit (net losses indicated with “–”) 65531054.64 429442724.43
(I) Classified by continuity of operations
1. Net profit from continuing operations (net losses indicated with 65531054.64 429442724.43
“–”)
2. Net profit from discontinued operations (net losses indicated with
“–”)
(II) Classified by ownership
1. Net profit attributable to shareholders of the parent company 57982645.46 417187345.27
(presented as “—” for net loss)
2. Profit or loss attributable to minority shareholders (presented as 7548409.18 12255379.16
“—” for net loss)
VI. Net of tax of other comprehensive income -3075058.66 -763639.02
Other comprehensive income net of tax attributable to owners of the -2994370.30 -687659.84
parent company
(I) Other comprehensive income not reclassifiable to profit or loss 0.00 0.00
1. Remeasurements of defined benefit plansFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
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 -2994370.30 -687659.84
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 -2994370.30 -687659.84
7. Others
Other comprehensive income net of tax attributable to minority -80688.36 -75979.18
shareholders
VII. Total Comprehensive Income 62455995.98 428679085.41
Total comprehensive income attributable to owners of the parent 54988275.16 416499685.43
company
Total comprehensive income attributable to minority shareholders 7467720.82 12179399.98
VIII. Earnings per share:
(I) Basic earnings per share 0.0574 0.4051
(II) Diluted earnings per share 0.0574 0.4051
During the period the net profit realized by the acquired entity under the common control business
combination before the combination was RMB 0.00 and in the previous period it was RMB 0.00.Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting
department: Hu Xiangfei
4. Parent company income statement
Unit: RMB
Items First Half of 2026 First Half of 2025
I. Operating Revenue 5372921384.68 4939655534.15
Less: Operating cost 4965102643.16 4348705689.54
Taxes and Surcharges 20626420.92 19831290.74
Selling Expenses 129488155.29 141953661.27
Administrative Expenses 48018400.79 52820846.20
Research and Development Expenses 183742496.09 180556326.20
Financial Expenses -15471024.85 -25049146.25
Including: Interest expenses 9888167.69 8557134.21
Interest income 21597592.47 24157132.82
Add: Other Income 17747845.42 21257955.66
Investment income (losses indicated with “–”) 35855767.01 35020778.76Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.Including: Share of profit of associates and joint 3167797.14 4837089.05
ventures
Gains on derecognition of financial assets -4908820.73 556040.92
measured at amortized cost (losses indicated with “–”)
Net hedging gains (losses indicated with “–”)
Gains from changes in fair value (losses indicated with 5202837.43 8348616.70
“–”)
Credit impairment losses (losses indicated with “–”) -5581129.25 -14690691.08
Asset impairment losses (losses indicated with “–”) -7996037.39 -1629084.87
Gains on disposal of assets (losses indicated with “–”)
II. Operating profit (losses indicated with “–”) 86643576.50 269144441.62
Add: Non-operating Income 11148783.63 681872.78
Less: Non-operating Expenses 43889.56 1584752.10
III. Total profit (total losses indicated with “–”) 97748470.57 268241562.30
Less: Income tax expenses 4685847.81 30622568.94
IV. Net profit (net losses indicated with “–”) 93062622.76 237618993.36
(I) Net profit from continuing operations (net losses 93062622.76 237618993.36
indicated 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
7. Others
VI. Total Comprehensive Income 93062622.76 237618993.36
VII. Earnings per share:
(I) Basic earnings per share 0.0921 0.2307
(II) Diluted earnings per share 0.0921 0.2307Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting
department: Hu Xiangfei
5. Consolidated cash flow statement
Unit: RMB
Items First Half of 2026 First Half of 2025
I. Cash flows from operating activities:
Cash received from sale of goods and provision of services 13952305853.32 18024966579.93
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 668778246.57 859882005.15
Other Cash Received Relating to Operating Activities 104663593.31 64855328.53
Subtotal of Cash Inflows from Operating Activities 14725747693.20 18949703913.61
Cash paid for purchase of goods and services received 12580249866.77 15531280024.53
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 1139105461.02 1216813365.26
Cash paid for various taxes 165473053.36 257324900.15
Other Cash Paid Relating to Operating Activities 517281511.04 583711961.96
Subtotal of Cash Outflows from Operating Activities 14402109892.19 17589130251.90
Net cash flows generated from operating activities 323637801.01 1360573661.71
II. Cash flows from investing activities:
Cash received from investment recovery 15058122064.00 10349238472.00
Cash received from investment income 68729804.89 44863355.09
Net cash received from disposal of fixed assets intangible assets 1224105.96 842094.55
and other long-term assets
Net cash received from disposal of subsidiaries and other
business units
Other Cash Received Relating to Investing Activities 154269225.26 83846728.30Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.Subtotal of Cash Inflows from Investing Activities 15282345200.11 10478790649.94
Cash paid for acquisition and construction of fixed assets 199850363.42 236621756.72
intangible assets and other long-term assets
Cash paid for investments 16804084848.48 13145000000.00
Net increase in pledged loans
Net cash paid to acquire subsidiaries and other business units
Other Cash Paid Relating to Investing Activities 9125253.71 103409698.19
Subtotal of Cash Outflows from Investing Activities 17013060465.61 13485031454.91
Net Cash Flows from Investing Activities -1730715265.50 -3006240804.97
III. Cash flows from financing activities:
Cash received from capital contributions
Including: Cash received from minority shareholders’ investment
in subsidiaries
Cash received from borrowings 1085113600.00 2031143747.01
Other Cash Received Relating to Financing Activities 1530018959.33 538295512.53
Subtotal of Cash Inflows from Financing Activities 2615132559.33 2569439259.54
Cash paid for repayment of debts 1057635811.06 1536858532.12
Cash paid for dividends profit distribution or interest 231146691.34 356474745.48
Including: Dividends and profit paid to minority shareholders by 4574784.06 4066474.72
subsidiaries
Other Cash Paid Relating to Financing Activities 947582637.98 262259380.19
Subtotal of Cash Outflows from Financing Activities 2236365140.38 2155592657.79
Net Cash Flows from Financing Activities 378767418.95 413846601.75
IV. Effect of exchange rate changes on cash and cash equivalents -26941250.24 6322906.16
V. Net increase in cash and cash equivalents -1055251295.78 -1225497635.35
Add: Cash and cash equivalents at beginning of period 9759861189.08 9976098734.11
VI. Ending balance of cash and cash equivalents 8704609893.30 8750601098.76
Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting
department: Hu Xiangfei
6. Parent company cash flow statement
Unit: RMB
Items First Half of 2026 First Half of 2025
I. Cash flows from operating activities:
Cash received from sale of goods and provision of services 4325678351.92 4282390841.11
Tax refunds received 135022058.04 313278239.40
Other Cash Received Relating to Operating Activities 54089546.47 20710675.41
Subtotal of Cash Inflows from Operating Activities 4514789956.43 4616379755.92
Cash paid for purchase of goods and services received 4312680063.52 4464130616.45
Cash paid to and on behalf of employees 351958984.44 284339799.32
Cash paid for various taxes 28711684.39 32644734.65Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.Other Cash Paid Relating to Operating Activities 151479801.69 144701747.69
Subtotal of Cash Outflows from Operating Activities 4844830534.04 4925816898.11
Net cash flows generated from operating activities -330040577.61 -309437142.19
II. Cash flows from investing activities:
Cash received from investment recovery 11185000000.00 5804238472.00
Cash received from investment income 45947495.41 38789848.20
Net cash received from disposal of fixed assets intangible assets 1161271.73 786413.00
and other long-term assets
Net cash received from disposal of subsidiaries and other
business units
Other Cash Received Relating to Investing Activities 53689653.66 36637150.50
Subtotal of Cash Inflows from Investing Activities 11285798420.80 5880451883.70
Cash paid for acquisition and construction of fixed assets 62587982.31 99382132.62
intangible assets and other long-term assets
Cash paid for investments 12294000000.00 6439000000.00
Net cash paid to acquire subsidiaries and other business units
Other Cash Paid Relating to Investing Activities 7865275.71 21079682.40
Subtotal of Cash Outflows from Investing Activities 12364453258.02 6559461815.02
Net Cash Flows from Investing Activities -1078654837.22 -679009931.32
III. Cash flows from financing activities:
Cash received from capital contributions
Cash received from borrowings 1001500000.00 1881143747.01
Other Cash Received Relating to Financing Activities 1041582781.61 142067082.00
Subtotal of Cash Inflows from Financing Activities 2043082781.61 2023210829.01
Cash paid for repayment of debts 1030000000.00 1376108522.12
Cash paid for dividends profit distribution or interest 219597064.59 346136175.67
Other Cash Paid Relating to Financing Activities 542523416.88 56284214.73
Subtotal of Cash Outflows from Financing Activities 1792120481.47 1778528912.52
Net Cash Flows from Financing Activities 250962300.14 244681916.49
IV. Effect of exchange rate changes on cash and cash equivalents -15402773.79 4835720.68
V. Net increase in cash and cash equivalents -1173135888.48 -738929436.34
Add: Cash and cash equivalents at beginning of period 5106077198.37 3881601972.71
VI. Ending balance of cash and cash equivalents 3932941309.89 3142672536.37
Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting
department: Hu XiangfeiFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
7. Consolidated statement of changes in equity
Current period amount
Unit: RMB
First Half of 2026
Equity Attributable to Owners of the Parent Company
Other equity
instruments
Items Other General Undistrib Minority Total owners’
Share Capital Less: Treasury Special Surplus
Comprehensive risk uted Others Subtotal Interests equity
capital Reserves shares Reserve Reserves
Income reserves Profits
I. Balance at end 10299237 27497782 1824833 6083548865.
86960746.82-23780049.2938391282.14551363051.46407723518.986491272384.32
of previous year 15.00 98.08 314.77 34
Add:
Changes in
accounting
policies
Correcti
on of prior period
errors
Others
II. Balance at
102992372749778218248336083548865.
beginning of 86960746.82 -23780049.29 38391282.14 551363051.46 407723518.98 6491272384.32
15.0098.08314.7734
current year
III.Increase/decrease
during the period -153560 -208007006.2
63075294.56-2994370.3011623138.703397300.03-204609706.24
(decreases 480.11 7
indicated with
“–”)
Others
Perpetual
bonds
Preferred
sharesFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.(I) Total
5798264
Comprehensive -2994370.30 54988275.16 7467720.82 62455995.98
5.46
Income
(II) Contributions
and reductions in 63075294.56 -63075294.56 -63075294.56
capital
1. Common stock
contributed by 63075294.56 -63075294.56 -63075294.56
owners
2. Capital
contributions by
other equity
instrument holders
3. Amounts
credited to
owners’ equity for
share-based
payments
4. Others
(III) Profit -211543 -211543125.5
-4574784.06-216117909.63
distribution 125.57 7
1. Appropriation
to surplus reserves
2. Appropriation
of general risk
reserves
2. Distribution to
-211543-211543125.5
owners (or -4574784.06 -216117909.63
125.577
shareholders)
4. Others
(IV) Internal
transfers of
owners’ equityFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
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
11623138.7011623138.70504363.2712127501.97
reserves
1. Appropriated
21304454.6921304454.69817010.9222121465.61
during the period
2. Used during the
9681315.999681315.99312647.659993963.64
period
(VI) Others
IV. Balance at end 10299237 27497782 1671272 5875541859.
150036041.38-26774419.5950014420.84551363051.46411120819.016286662678.08
of current period 15.00 98.08 834.66 07
Amount for the prior periodFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.Unit: RMB
First Half of 2025
EquityAttributable to Owners of the Parent Company
Other equity instruments
Items Other Total owners’
Share Capital Undistributed Minority Interests
Comprehensiv Special Reserve Surplus Reserves Subtotal equity
capital Reserves Profits
e Income
10299
I. Balance at end 2750470215.3 1803207185.
23715.-21222419.6820968173.59502454071.026085800940.38390562431.046476363371.42
of previous year 9 06
00
Add:
Changes in
accounting
policies
Correcti
on of prior period
errors
Others
II. Balance at 10299
2750470215.31803207185.
beginning of 23715. -21222419.68 20968173.59 502454071.02 6085800940.38 390562431.04 6476363371.42
906
current year 00
III.Increase/decrease
during the period
-687659.8411112910.9777312519.3387737770.468672958.4196410728.87
(decreases
indicated with
“–”)
(I) Total
Comprehensive -687659.84 417187345.27 416499685.43 12179399.98 428679085.41
Income
Others
General risk
reserves
Less: Treasury
shares
Others
Perpetual
bonds
Preferred
sharesFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.(II) Contributions
and reductions in
capital
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
(III) Profit -339874825.9
-339874825.94-4066474.72-343941300.66
distribution 4
1. Appropriation to
surplus reserves
2. Appropriation
of general risk
reserves
2. Distribution to
-339874825.9
owners (or -339874825.94 -4066474.72 -343941300.66
4
shareholders)
4. Others
(IV) Internal
transfers of
owners’ equityFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
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
11112910.9711112910.97560033.1511672944.12
reserves
1. Appropriated
21140216.0321140216.03991714.2922131930.32
during the period
2. Used during the
10027305.0610027305.06431681.1410458986.20
period
(VI) Others
10299
IV. Balance at end 2750470215.3 1880519704.
23715.-21910079.5232081084.56502454071.026173538710.84399235389.456572774100.29
of current period 9 39
00
Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting department: Hu XiangfeiFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
8. Parent company statement of changes in equity
Current period amount
Unit: RMB
First Half of 2026
Other equity instruments
Items OtherCapital Less: Treasury Special Surplus Undistributed Other Total owners’
Share capital Preferre Perpetua Other ComprehensivReserves shares Reserve Reserves Profits s equity
d shares l bonds s e Income
I. Balance at end of 1029923715.0 2601775532.7 1079820.2 551144885.7 1314046007.4 5411009214.3
previous year 86960746.820 4 6 8 1 7
Add: Changes in
accounting policies
Correction
of prior period errors
Others
II. Balance at
beginning of current 1029923715.0 2601775532.7 1079820.2 551144885.7 1314046007.4 5411009214.386960746.82
year 0 4 6 8 1 7
III. Increase/decrease
during the period
(decreases indicated 63075294.56 950513.54 -118480502.81 -180605283.83
with “–”)
(I) Total
Comprehensive 93062622.76 93062622.76
Income
(II) Contributions and
reductions in capital 63075294.56 -63075294.56
1. Common stock 63075294.56 -63075294.56
contributed byFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.owners
2. Capital
contributions by
other equity
instrument holders
3. Amounts credited
to owners’ equity for
share-based payments
4. Others
(III) Profit
distribution -211543125.57 -211543125.57
1. Appropriation to
surplus reserves
2. Distribution to
owners (or -211543125.57 -211543125.57
shareholders)
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
comprehensiveFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.income transferred to
retained earnings
6. Others
(V) Special reserves 950513.54 950513.54
1. Appropriated 4855103.4
during the period 4855103.466
2. Used during the 3904589.9
period 3904589.922
(VI) Others
IV. Balance at end of 1029923715.0 2601775532.7 150036041.3 2030333.8 551144885.7 1195565504.6 5230403930.5
current period 0 4 8 0 8 0 4
Amount for the prior period
Unit: RMB
First Half of 2025
Other equity instruments
Items Less: Other Special Surplus Undistributed Total owners’
Share capital Preferred Perpetual Capital Reserves Treasury Comprehensive Others
Others Reserve Reserves Profits equity
shares bonds shares Income
I. Balance at end of 1029923715.00 2601775532.74 502235905.34 1213740009.40 5347675162.48
previous year
Add: Changes in
accounting policies
Correction
of prior period errors
Others
II. Balance at
beginning of current 1029923715.00 2601775532.74 502235905.34 1213740009.40 5347675162.48
year
III. Increase/decrease
during the period 1792549.38 -102255832.58 -100463283.20
(decreases indicatedFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.with “–”)
(I) Total
Comprehensive 237618993.36 237618993.36
Income
(II) Contributions and
reductions in capital
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
(III) Profit distribution -339874825.94 -339874825.94
1. Appropriation to
surplus reserves
2. Distribution to
owners (or -339874825.94 -339874825.94
shareholders)
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 toFull Text of the 2026 Semi-Annual Report of Changhong Meiling Co. Ltd.
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 1792549.38 1792549.38
1. Appropriated during 4990854.12 4990854.12
the period
2. Used during the 3198304.74 3198304.74
period
(VI) Others
IV. Balance at end of 1029923715.00 2601775532.74 1792549.38 502235905.34 1111484176.82 5247211879.28
current period
Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting department: Hu XiangfeiNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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-tradable shareholders.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)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 theGratuitous Transfer 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
Public Accountants Co. Ltd. with the Capital Verification Report (No.XYZH-2010CDA6021).Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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).Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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 June 30 2026 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
64450170.63
restrictions
1. Shares held by the State
2. Shares held by state-owned legal
11410530.11
persons
3. Shares held by other domestic
53039640.52
investors
Including: Shares held by domestic
33635390.33
legal persons
Shares held by domestic natural
19404250.19
persons
4. Shares held by foreign investors
(II) Shares not subject to selling
102347869899.37
restrictions
1. RMB ordinary shares 875288864 84.98
2. Domestically listed foreign shares 148189834 14.39
3. Overseas listed foreign shares
4. OthersNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Category of Shares Number Proportion (%)
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).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“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.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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 fairly accurately and completely reflect
the Company’s financial position as at June 30 2026 as well as its operating results and cash
flows for the first half of 2026 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.(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 Judgments on Determination Method and Selection Basis of
Materiality Standards Materiality Standards
Significant recovery or reversal of provision The amount of a single recovery or reversal accountsNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Disclosure Items Involving Judgments on Determination Method and Selection Basis of
Materiality Standards Materiality Standards
for bad debts of receivables for more than 10% of the total amount of recovery or
reversal of receivables and exceeds RMB 10.00 million
The amount of a single write-off accounts for more than
Significant write-off of receivables 10% of the total amount of bad debt write-offs of
various receivables and exceeds RMB 5.00 million
The amount of a single provision accounts for more
Significant receivables with individually
than 10% of the total provision for bad debts of various
assessed provision for bad debts
receivables and exceeds RMB 50.00 million
A single debt investment accounts for more than 5% of
Significant debt investments the total debt investments and exceeds RMB 20.00
million
The change in the carrying amount of contract assets
Significant changes in the carrying amount
accounts for more than 30% of the opening balance of
of contract assets
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
A single contract liability with aging over one year
Significant contract liabilities with aging
accounts for more than 10% of the total contract
over one year
liabilities and exceeds RMB 50.00 million
The change in the carrying amount of contract
Significant changes in the carrying amount
liabilities accounts for more than 30% of the opening
of contract liabilities
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
The net assets of a subsidiary account for more than 1%
Significant non-wholly-owned subsidiaries
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 exceeds RMB 50.00
Significant joint ventures or associates 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
CompanyNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Disclosure Items Involving Judgments on Determination Method and Selection Basis of
Materiality Standards Materiality Standards
A single investment activity accounts for more than
10% of the total cash inflows or outflows related to
Significant investment activities
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 impact
receipts and payments for the current period exceeding 10% of net assets on the current 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
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 theNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 disclosedNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 isNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 spotNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 relatedNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 interestNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 LossNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 andNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 comprehensiveNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 isNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 LiabilitiesNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Derivative financial liabilities that are linked to equity instruments for which there is no
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 netNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
equity. The Company does not recognize changes in the fair value of equity instruments.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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.
2. Determination Method and Accounting Treatment of Expected Credit Losses of
Contract AssetsNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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.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 oneNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
the date of reversal.(XV) Long-term Equity Investments
The Company’s long-term equity investments mainly consist of investments inNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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. ForNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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:
Depreciation Estimated residual Annual
Category
period (years) value rate (%) depreciation 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.(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.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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.The categories depreciation periods estimated residual value rates and annual depreciation
rates of fixed assets are as follows:
Estimated residual value
Category Depreciation period Annual depreciation rate
rate
Buildings and structures 30-40 years 4%-5% 2.375%-3.20%
Machinery and
10-14 years 4%-5% 6.786%-9.60%
equipmentNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Estimated residual value
Category Depreciation period Annual depreciation rate
rate
Transportation equipment 5-12 years 4%-5% 7.92%-19.20%
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
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 capitalizationNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 areNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 theNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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.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 investmentsNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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.(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 theNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 andNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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.(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 theNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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.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 CompanyNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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:Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 toNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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.(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 lossNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 andNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
(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.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 thatNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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 applicableNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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.
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 inNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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
Value-added tax sale of goods and taxable services in accordance with 13%、9%、6%、5%、
(vat) tax laws. Payable VAT is the balance after deducting 3%
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
Based on the actual amount of turnover tax paid. 7%、5%
and construction tax
Education surcharge Based on the actual amount of turnover tax paid. 3%
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 ratesNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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) Co.
15.00%
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%
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.
Ltd. obtained the High-Tech Enterprise Certificate (No. GR202334003036) approved by the
Department of Science and Technology of Anhui Province Department of Finance of AnhuiNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
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.Notes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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) In accordance with the provisions of the Announcement on Further Supporting the
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. Hebei Hongmao Household Appliance Technology Co. Ltd.Meiling Equator Home Appliance (Hefei) Co. Ltd. and Hefei Equator Electric 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 AdditionalNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
(I) Notes to Items in the Consolidated Balance Sheet
1. Cash and Cash Equivalents
Items Ending balance Beginning balance
Cash on hand 6370.01 9657.12
Cash in bank 4216701302.54 5431765667.46
Other monetary funds 1187687548.00 447929063.69
Deposits in finance companies 4497464313.37 4306957481.67
Total 9901859533.92 10186661869.94
Including: Total deposits overseas 37763235.07 41364305.25Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
2. Trading financial assets
Items Ending balance Beginning balance
Financial assets measured at fair value with
changes recognized in profit or loss for the current 2026756891.42
period
Including: Principal and interest of structured
2026756891.42
deposits
Total 2026756891.42
3. Derivative Financial Assets
Items Ending balance Beginning balance
Forward foreign exchange contracts 81257789.17 61841784.71
Total 81257789.17 61841784.71
4. Notes receivable
(1) Details
Items Ending balance Beginning balance
Bank acceptances 28190937.25
Total 28190937.25
(2) Provision for Impairment
Ending balance
Provision for bad
Category Carrying balance debts
Carrying value
Proportion Provision
Amount Amount
(%) ratio (%)
Impairment provision
28190937.25100.0028190937.25
made individually
Including: Bank
28190937.25100.0028190937.25
acceptances
Total 28190937.25 100.00 28190937.25Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
5. Accounts Receivable
(1) Aging Analysis
Aging Ending balance Beginning balance
Within 1 year (inclusive) 4727292613.18 2026453487.32
Including:
Within 3 months 4468617109.06 1728453969.40
3 - 6 months 204084624.49 224531570.07
6 months - 1 year 54590879.63 73467947.85
1-2 years 19832215.35 60138517.19
2-3 years 31568298.66 26851816.90
Over 3 years 185733095.55 213760002.68
Total 4964426222.74 2327203824.09
(2) Provision for Bad Debts
1) Details by Category
Ending balance
Category Carrying balance Provision for bad debts Carrying
Proportion Provision
Amount Amount value
(%) ratio (%)
Accounts receivable with provision 1265005380.
1436247420.4128.93171242039.7611.92
made individually 65
Including: Receivables with letters of
182572718.393.68182572718.39
credit
1079222679.
Related party balances 1217523608.11 24.52 138300928.20 11.36
91
Receivables with individually
made provision despite immaterial 36151093.91 0.73 32941111.56 91.12 3209982.35
individual amounts
Accounts receivable with provision 3382756326.
3528178802.3371.07145422476.024.12
made on a portfolio basis 31
Including: Receivables from
126087597.622.5437939427.4630.0988148170.16
engineering customers
Receivables from 3294608156.
3402091204.7168.53107483048.563.16
non-engineering customers 15Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance
Category Carrying balance Provision for bad debts Carrying
Proportion Provision
Amount Amount value
(%) ratio (%)
4647761706.
Total 4964426222.74 100.00 316664515.78 6.38
96
(Continued)
Beginning balance
Category Carrying balance Provision for bad debts Carrying
Proportion Provision
Amount Amount value
(%) ratio (%)
Accounts receivable with provision
made individually
Including: Receivables with letters of
1145354844.6349.21180888879.3415.79964465965.29
credit
Related party balances 138741357.98 5.96 138741357.98
Receivables with individually
made provision despite immaterial 940509695.82 40.41 129281437.51 13.75 811228258.31
individual amounts
Accounts receivable with provision
66103790.832.8451607441.8378.0714496349.00
made on a portfolio basis
Including: Receivables from
1181848979.4650.79131370453.4211.121050478526.04
engineering customers
Receivables from
167934094.477.2250539888.6230.10117394205.85
non-engineering customers
Total 1013914884.99 43.57 80830564.80 7.97 933084320.19
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 113 customers.
3) Accounts Receivable with Provision Made on Aging Portfolio Basis
* Receivables from engineering customersNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance
Aging Provision for bad
Carrying balance Provision ratio (%)
debts
Within 3 months (inclusive) 12619731.21
3 - 6 months 6059972.00
6 months - 1 year 44873402.87
1-2 years 13526324.78 2705264.96 20.00
2-3 years 27548008.54 13774004.27 50.00
Over 3 years 21460158.22 21460158.22 100.00
Subtotal 126087597.62 37939427.45 30.09
(Continued)
Beginning 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
* Receivables from non-engineering customers
Ending balance
Aging Provision for bad
Carrying balance Provision ratio (%)
debts
Within 3 months (inclusive) 3193527886.51 31935278.86 1.00
3 - 6 months 139341493.75 13934149.38 10.00
6 months - 1 year 8699087.91 1739817.58 20.00
1-2 years 1193208.37 596604.19 50.00Notes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance
Aging Provision for bad
Carrying balance Provision ratio (%)
debts
2-3 years 261648.12 209318.50 80.00
Over 3 years 59067880.05 59067880.05 100.00
Subtotal 3402091204.71 107483048.56 3.16
(Continued)
Beginning 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
(3) Changes in Provision for Bad Debts
1) Details
Changes during the period
Beginning
Items
balance Recovery or
Ending balance
Provision Write-off Others
reversal
Provision
made 180888879.34 9586688.17 3088385.77 16208437.03 63295.05 171242039.76
individually
Provision
made on a
131370453.4214316476.64-264454.04145422476.02
portfolio
basis
Total 312259332.76 23903164.81 3088385.77 16208437.03 -201158.99 316664515.78
2) Significant Recovery or Reversal of Provision for Bad Debts during the PeriodNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
The Company had no significant recovery or reversal of bad debt provisions during the
period.
(4) Accounts receivable actually written off during the period
Items Amount written off
Accounts receivable actually written
16208437.03
off
(5) 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 3166014452.31 accounting for 63.80% of the total
ending balance of accounts receivable and contract assets with the corresponding total provision
for bad debts amounting to RMB 119694947.74.
6. Accounts Receivable Financing
(1) Details
Items Ending balance Beginning balance
Bank acceptances 661236899.26 400661889.26
Finance company acceptances 20136778.93 9268697.13
Total 681373678.19 409930586.39
(2) Provision for Impairment
Ending balance
Provision for bad
Category Carrying balance debts
Carrying value
Proportion Provision
Amount Amount
(%) ratio (%)
Impairment provision
681373678.19100.00681373678.19
made individually
Including: Bank
661236899.2697.04661236899.26
acceptances
Finance company
20136778.932.9620136778.93
acceptancesNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance
Provision for bad
Category Carrying balance debts
Carrying value
Proportion Provision
Amount Amount
(%) ratio (%)
Total 681373678.19 100.00 681373678.19
(Continued)
Beginning balance
Provision for bad
Category Carrying balance debts
Carrying value
Proportion Provision
Amount Amount
(%) ratio (%)
Impairment provision
409930586.39100.00409930586.39
made individually
Including: Bank
400661889.2697.74400661889.26
acceptances
Finance company
9268697.132.269268697.13
acceptances
Total 409930586.39 100.00 409930586.39
(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 39867167.11
Subtotal 39867167.11
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)26
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 DateNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Items Amounts derecognized at the end of the period
Bank acceptances 915438106.56
Finance company acceptances 34170630.37
Subtotal 949608736.93
7. Prepayments
(1) Aging Analysis
Ending balance
Aging Provision for
Carrying balance Proportion (%) Carrying value
impairment
Within 1 year (inclusive) 80517087.02 99.43 80517087.02
1-2 years 262963.43 0.32 262963.43
2-3 years 201378.47 0.25 201378.47
Over 3 years
Total 80981428.92 100.00 80981428.92
(Continued)
Beginning balance
Aging Provision for
Carrying balance Proportion (%) Carrying value
impairment
Within 1 year (inclusive) 92298229.88 99.60 92298229.88
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
(2) Top Five Prepayments by Balance
The aggregate amount of the top five prepayments by payee at the end of the period amounted
to RMB61877684.06 accounting for76.41% of the total ending balance of prepayments.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
8. Other Receivables
Items Ending balance Beginning balance
Other receivables 65006650.70 41558190.51
Total 65006650.70 41558190.51
(1) Classification by Nature of Funds
Nature of funds Ending balance Beginning balance
Staff imprest loans 14923233.27 13690886.55
Deposits 13622700.51 15438672.52
Tax rebates receivable 37601617.87 14390254.25
Related party balances 225350.94 420041.56
Others 2433719.73 1251838.02
Subtotal 68806622.32 45191692.90
（2) Aging AnalysisAging Ending balance Beginning balance
Within 3 months 51233456.73 28670316.46
3 - 6 months 3943954.76 1945629.74
6 months - 1 year 1075392.31 2126167.97
1-2 years 1773143.88 4024836.61
2-3 years 3552947.31 1629908.14
Over 3 years 7227727.33 6794833.98
Subtotal 68806622.32 45191692.90
（3) Provision for Bad DebtsEnding balance
Category Carrying balance Provision for bad debts
Proportion Provision ratio Carrying value
Amount Amount
(%)(%)
Provision made individually 66729168.01 96.98 3568424.62 5.35 63160743.39
Including: Other receivables with 28902199.20 42.00 3568424.62 12.35 25333774.58Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance
Category Carrying balance Provision for bad debts
Proportion Provision ratio Carrying value
Amount Amount
(%)(%)
individually made provision despite
immaterial individual amounts
Tax rebates receivable 37601617.87 54.65 0.00 37601617.87
Related party balances 225350.94 0.33 0.00 225350.94
Provision made on a portfolio basis 2077454.31 3.02 231547.00 11.15 1845907.31
Including: Other receivables
2077454.313.02231547.0011.151845907.31
provided for on aging portfolio basis
Total 68806622.32 100.00 3799971.62 5.52 65006650.70
(Continued)
Beginning balance
Category Carrying balance Provision for bad debts
Proportion Provision Carrying value
Amount Amount
(%) ratio (%)
Provision made individually 44965306.70 99.50 3560424.62 7.92 41404882.08
Including: Other receivables with
individually made provision despite 30155010.89 66.73 3560424.62 11.81 26594586.27
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 basis 226386.20 0.50 73077.77 32.28 153308.43
Including: Other receivables
226386.200.5073077.7732.28153308.43
provided for on aging portfolio basis
Total 45191692.90 100.00 3633502.39 8.04 41558190.51
4) Changes in Provision for Bad Debts
* Details
Items Stage 1 Stage 2 Stage 3 SubtotalNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Expected credit loss for
Expected credit Expected credit loss for
the entire period (no
loss for the the entire period (credit
credit impairment
next 12 months impairment incurred)
incurred)
Beginning balance 4153.12 38330.10 3591019.17 3633502.39
Beginning balance in
————————
the current period
--Transfer to Stage 2
--Transfer to Stage 3
--Reversal to Stage 2
--Reversal to Stage 1
Provision made
152287.639607.0513000.00174894.68
during the period
Recovery or reversal
during the period
Write-off during the
5000.005000.00
period
Other changes -1550.28 -1875.17 -3425.45
Ending balance 154890.47 46061.98 3599019.17 3799971.62
* Provision recovery or reversal of bad debts for other receivables during the period
Changes during the period
Beginning
Category Write-off or Ending balance
balance Recovery orProvision derecognitio Others
reversal
n
Provision made
3560424.6213000.005000.003568424.62
individually
Provision made on a
73077.77161894.68-3425.45231547.00
portfolio basis
Total 3633502.39 174894.68 5000.00 -3425.45 3799971.62
Items Amount written off
Receivables for security deposits 5000.00
5) Actual Write-off of Other Receivables during the PeriodNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
6) Top 5 Other Receivables by Balance
Provision for
Carrying amount Percentage of
Nature of bad debts at
Name of Entity at the end of the Aging other receivables
funds the end of the
period balance (%)
period
Export tax
Provincial Tax Bureau 36758991.54 Within 3 months 53.42
rebate
Zhongshan Nantou
Town Asset Investment Deposits 2728840.80 Within 3 year 3.97
Management Co. Ltd.He Zhizhang Staff imprest 1502031.13 Within 3 months 2.18
Shandong Xiaoya
Intelligent Appliance Others 1418376.00 3 - 6 months 2.06 141837.60
Co. Ltd.Ning Qingni Staff imprest 1180334.12 Within 1 year 1.72
Subtotal 43588573.59 63.35 141837.60
9. Inventories
(1) Details
Ending balance
Items Provision for decline in
Carrying balance Carrying value
value / impairment
Raw materials 274893929.53 6832199.03 268061730.50
Low-value consumables 128290.83 37205.44 91085.39
Deferred amortization of
70981026.3370981026.33
molds etc.Goods on hand 1584975711.99 111488295.62 1473487416.37
Goods in transit 590915154.60 27582117.06 563333037.54
Work in progress 7784319.83 7784319.83
Contract performance
64617533.3464617533.34
costsNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance
Items Provision for decline in
Carrying balance Carrying value
value / impairment
Total 2594295966.45 145939817.15 2448356149.30
(Continued)
Beginning balance
Items Provision for decline in
Carrying balance Carrying value
value / impairment
Raw materials 223499248.36 6074475.00 217424773.36
Low-value consumables 103761.03 38674.41 65086.62
Deferred amortization of
75100660.8875100660.88
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
(2) Provision for Inventory Impairment and Impairment of Contract Performance Costs
1) Details
Increase for the period Decrease for the period
Beginning
Items Reversal or Ending balancebalance Provision Others Others
write-off
Raw materials 6074475.00 2612009.56 1854285.53 6832199.03
Low-value
38674.411468.9737205.44
consumables
Goods on hand 108942269.30 23971596.25 21262305.87 163264.06 111488295.62
Goods in
15497182.3628596499.3316511564.6327582117.06
transit
Work in
progress
Contract
performanceNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Increase for the period Decrease for the period
Beginning
Items Reversal or Ending balancebalance Provision Others Others
write-off
costs
Total 130552601.07 55180105.14 39629625.00 163264.06 145939817.15
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 in
Raw materials For production
processed finished products)
Cost exceeds net realizable value (market price decline at
Goods on hand For sale
period end)
Cost exceeds net realizable value (market price decline at
Goods in transit For sale
period end)
Low-value
Cost exceeds net realizable value Already utilized
consumables
Contract Construction cost exceeds net realizable value (impairment
Already utilized
performance costs exists in processed finished products)
10 Contract Assets
(1) Details
Ending balance
Items
Carrying balance Provision for impairment Carrying value
Retention money 1081352.38 428413.00 652939.38
Total 1081352.38 428413.00 652939.38
(Continued)
Beginning balance
Items
Carrying balance Provision for impairment Carrying value
Retention money 1187133.55 461708.05 725425.50
Total 1187133.55 461708.05 725425.50Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
(2) Reasons for Significant Changes in the Carrying Amount of Contract Assets during
the Period
There was no significant change in the carrying amount of contract assets during the
period.
(3) Provision for Impairment
Ending balance
Category Carrying balance Provision for impairment
Proportion Provision ratio Carrying value
Amount Amount
(%)(%)
Impairment provision 1081352.38 100 428413.00 39.62 652939.38
made individually
Total 1081352.38 100 428413.00 39.62 652939.38
(Continued)
Beginning balance
Category Carrying balance Provision for impairment
Proportion Provision ratio Carrying value
Amount Amount
(%)(%)
Impairment provision
1187133.55100.00461708.0538.89725425.50
made individually
Total 1187133.55 100.00 461708.05 38.89 725425.50
(4) Changes in Impairment Provision
Changes during the period
Beginning
Items Recovery or Write-off / Ending balancebalance Provision Others
reversal derecognition
Impairment
provision made 461708.05 -33295.05 428413.00
individually
Total 461708.05 -33295.05 428413.00
11. Non-current Assets Due within One YearNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
(1) Details
Ending balance Beginning balance
Items ProvisionCarrying Provision for Carrying Carrying
Carrying value for
balance impairment balance value
impairment
Debt
investments
1105050881.941105050881.94656205518.06656205518.06
due within
one year
Retention
money due
2635367.562635367.563620602.6530000.003590602.65
within one
year
Total 1107686249.50 1107686249.50 659826120.71 30000.00 659796120.71
(2) Details of Debt Investments Due within One Year
Ending balance Beginning balance
Provision
Items ProvisionCarrying for Carrying
Carrying value Carrying balance for
balance impairme value
impairment
nt
Time deposits
large-sum 65620551
1105050881.941105050881.94656205518.06
certificates of 8.06
deposit
65620551
Total 1105050881.94 1105050881.94 656205518.06
8.06
(3) Material Debt Investments Due within One Year at Period End
Ending balance
Items Effective interest Overdue
Face value Coupon rate (%) Maturity date
rate (%) principal
Time deposit 150000000.00 3.15 3.15 2027-5-16
Time deposit 100000000.00 2.60 2.60 2027-6-21
Large-sum
certificates of 250000000.00 3.05 3.05 2027-5-24
deposit
Large-sum
certificates of 150000000.00 2.70 2.70 2026-8-7
depositNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance
Items Effective interest Overdue
Face value Coupon rate (%) Maturity date
rate (%) principal
Subtotal 650000000.00
12. Other Current Assets
Ending balance Beginning balance
Provision Provision
Items Carrying for Carrying for Carrying
Carrying value
balance impairme balance impairme value
nt nt
Prepaid VAT 553921.41 553921.41 2148305.21 2148305.21
Prepaid
enterprise 71089199.32 71089199.32 46506438.38 46506438.38
income tax
Deductible input
218536228.20218536228.20190382026.90190382026.90
VAT
Time deposits
134716522.84134716522.8453335578.8853335578.88
held to maturity
Large-sum
certificates of
70826958.9070826958.9070340986.3070340986.30
deposit held to
maturity
Local sales tax
1687841.341687841.34608632.91608632.91
in Pakistan
Deferred
14893474.0314893474.039588955.309588955.30
expenses
Total 512304146.04 512304146.04 372910923.88 372910923.88
13. Debt Investments
(1) Details
Ending balance
Items Provision for
Carrying balance Carrying value
impairment
Time deposits large-sum certificates 836261044.76 836261044.76Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance
Items Provision for
Carrying balance Carrying value
impairment
of deposit
Total 836261044.76 836261044.76
(Continued)
Beginning balance
Items Provision for
Carrying balance Carrying value
impairment
Time deposits large-sum certificates
1661029964.491661029964.49
of deposit
Total 1661029964.49 1661029964.49
(2) Material Debt Investments at Period End
Ending balance
Items Effective interest Overdue
Face value Coupon rate (%) Maturity date
rate (%) principal
Large-sum
certificates of 130000000.00 2.15 2.15 2028-5-15
deposit
Large-sum
certificates of 120000000.00 2.15 2.15 2028-5-15
deposit
Large-sum
certificates of 100000000.00 2.15 2.15 2028-5-19
deposit
Subtotal 350000000.00
(Continued)
Beginning balance
Items Effective interest Overdue
Face value Coupon rate (%) Maturity date
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
depositNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Beginning balance
Items Effective interest Overdue
Face value Coupon rate (%) Maturity date
rate (%) principal
Large-sum
certificates of 100000000.00 2.60 2.60 2027-6-21
deposit
Subtotal 500000000.00
14. Long-term Equity Investments
(1) Classification
Ending balance
Items
Carrying balance Provision for impairment Carrying value
Investments in associates 90639809.25 3097405.00 87542404.25
Total 90639809.25 3097405.00 87542404.25
(Continued)
Beginning balance
Items
Carrying balance Provision for impairment Carrying value
Investments in
91246211.343097405.0088148806.34
associates
Total 91246211.34 3097405.00 88148806.34
(2) Details
Beginning balance Changes during the period
Investment
Adjustment to
Investee Disposal incomeProvision for Additional other
Carrying value of recognized
impairment investment comprehensive
investment under equity
income
method
Associates
Sichuan Zhiyijia Network
68150589.092720933.90
Technology Co. Ltd.Hefei Xingmei Asset Management
14246249.01446863.24
Co. Ltd.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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 Disposal incomeProvision for Additional other
Carrying value of recognized
impairment investment comprehensive
investment under equity
income
method
Associates
Chengdu Guigu Environmental
3331042.983008655.00223682.52
Technology Co. Ltd.Sichuan Tianyou Guigu Technology
2420925.2688750.00-168953.82
Co. Ltd.Hefei Xinmei Solar Energy
Technology Co. Ltd.Changhong Ruba Electric Company
(Private) Ltd.Total 88148806.34 3097405.00 3222525.84
(Continued)
Changes during the period Ending balance
Declaration of Provisio
Investee Other cash dividends n for Other Provision for
changes in Carrying value
or profit impair s impairment
equity
distributions ment
Associates
Sichuan Zhiyijia Network
3828927.9367042595.06
Technology Co. Ltd.Hefei Xingmei Asset
14693112.25
Management Co. Ltd.Chengdu Guigu Environmental
3554725.503008655.00
Technology Co. Ltd.Sichuan Tianyou Guigu
2251971.4488750.00
Technology Co. Ltd.Hefei Xinmei Solar Energy
Technology Co. Ltd.Changhong Ruba Electric
Company (Private) Ltd.Total 3828927.93 87542404.25 3097405.00Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
15. Other Non-current Financial Assets
Fair value at beginning of
Items Fair value at end of period
period
Sichuan Changhong Group Finance Co. Ltd. 562058644.81 559215176.05
Sichuan Hongyun New Generation Information
Technology Venture Capital Fund Partnership Enterprise 19652435.25 19652435.25
(Limited Partnership)
Changhong Group Sichuan Shenwan Hongyuan Strategic
New Industrial Parent Fund Partnership (Limited 53674658.46 53674658.46
Partnership)
Huishang Bank Co. Ltd. 29290000.00 29290000.00
Total 664675738.52 661832269.76
16. Investment Properties
Items Buildings and structures Total
Original carrying value
Beginning balance 96917065.08 96917065.08
Increase for the period
Decrease for the period 3565819.46 3565819.46
(1) Transfer to fixed assets 3565819.46 3565819.46
Ending balance 93351245.62 93351245.62
Accumulated depreciation and
amortization
Beginning balance 33529229.11 33529229.11
Increase for the period 1774200.74 1774200.74
(1) Depreciation or amortization
1774200.741774200.74
provided
Decrease for the period 2172564.96 2172564.96
(1) Transfer to fixed assets 2172564.96 2172564.96
Ending balance 33130864.89 33130864.89
Carrying value
Carrying amount at end of period 60220380.73 60220380.73Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Items Buildings and structures Total
Carrying amount at beginning of period 63387835.97 63387835.97
17. Fixed Assets
(1) Details
Items Ending balance Beginning balance
Fixed assets 2266797903.68 2243836178.31
Disposal of fixed assets 32293183.76 32293183.76
Total 2299091087.44 2276129362.07
(2) Fixed Assets
1) Details
Buildings and Machinery and Transportation Other
Items Total
structures equipment equipment equipment
Original carrying
value
Beginning balance 1947766196.67 2161494828.50 41782665.45 350326206.69 4501369897.31
Increase for the
38861772.32106339390.161234269.9021336146.44167771578.82
period
1) Purchase 6727282.81 847708.01 7574990.82
2) Transfer from
construction in 35295952.86 99612107.35 1234269.90 20488438.43 156630768.54
progress
3) Transfer from
investment 3565819.46 3565819.46
properties
4) Others
Decrease for the
19976909.741002538.051545610.2922525058.08
period
1) Disposal or
5726868.76860202.841432330.598019402.19
write-off
2) Transfer to
13902345.4113902345.41
construction inNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Buildings and Machinery and Transportation Other
Items Total
structures equipment equipment equipment
progress
3) Decrease due to
foreign currency 142335.21 113279.70 255614.91
translation
4) Others 347695.57 347695.57
Ending balance 1986627968.99 2247857308.92 42014397.30 370116742.84 4646616418.05
Accumulated
depreciation
Beginning balance 720965004.83 1326623007.17 26326528.07 179918484.25 2253833024.32
Increase for the
33183183.1085228190.561496575.7514990337.63134898287.04
period
1) Provision made 31010618.14 85228190.56 1496575.75 14990337.63 132725722.08
2) Transfer from
investment 2172564.96 2172564.96
properties
3) Others
Decrease for the
10288415.82891350.951432202.4612611969.23
period
1) Disposal or
5261054.42820204.701341566.277422825.39
write-off
2) Transfer to
construction in 4892376.58 4892376.58
progress
3) Effect of foreign
71146.2590636.19161782.44
currency translation
4) Others 134984.82 134984.82
Ending balance 754148187.93 1401562781.91 26931752.87 193476619.42 2376119342.13
Provision for
impairment
Beginning balance 19196.30 137663.70 3543834.68 3700694.68
Increase for the
period
1) Provision made
Decrease for the
1522.441522.44
periodNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Buildings and Machinery and Transportation Other
Items Total
structures equipment equipment equipment
1) Disposal or
1522.441522.44
write-off
Ending balance 19196.30 137663.70 3542312.24 3699172.24
Carrying value
Carrying amount at
1232460584.76846156863.3115082644.43173097811.182266797903.68
end of period
Carrying amount at
1226781995.54834734157.6315456137.38166863887.762243836178.31
beginning of period
2) Idle fixed assets temporarily
Original carrying Accumulated Provision for
Items Carrying value Remarks
value depreciation impairment
Machinery and
9028548.535820588.232434969.27772991.03
equipment
Other equipment 131950.62 118967.70 6385.39 6597.53
Subtotal 9160499.15 5939555.93 2441354.66 779588.56
3) Fixed assets leased out under operating leases
Original carrying Accumulated Provision for
Items Carrying value Remarks
value depreciation impairment
Buildings 88976213.85 38684864.82 50291349.03
Machinery and
21763577.7916063420.255700157.54
equipment
Other equipment 390866.32 387232.17 3634.15
Subtotal 111130657.96 55135517.24 55995140.72
4) Details of fixed assets without completed property right certificates
Reason for not completing
Items Carrying amount at end of period
property right certificates
Relevant ownership registration
R&D Building No. 8 21200738.27
procedures are in progress.Subtotal 21200738.27
(3) Disposal of Fixed Assets
Items Ending balance Beginning balanceNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Items Ending balance Beginning balance
Disposal of assets related to land
32293183.7632293183.76
reservation
Subtotal 32293183.76 32293183.76
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.
18. Construction in Progress
(1) Details
Items Ending balance Beginning balance
Construction in progress 207909169.42 127282346.90
Total 207909169.42 127282346.90
(2) Construction in progress
1) DetailsNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance Beginning balance
Provisio Provisio
Items n for n for
Carrying balance Carrying value Carrying balance Carrying value
impairm impair
ent ment
Mianyang Changhong Smart Home
59756424.7059756424.702349208.152349208.15
Appliance Project
Air Conditioning Manufacturing
System Capacity Improvement and 17514323.64 17514323.64 7192493.26 7192493.26
Renovation Project
Zhongshan Changhong Technical
12447365.4912447365.4911466767.21
Transformation Project 11466767.21
Washing Machine New Dryer Final
5299115.045299115.045299115.045299115.04
Assembly Line Equipment Project
Changhong Meiling Drum Washing
Machine New Inner Tub Automatic
4035398.244035398.244035398.244035398.24
Welding & Forming Equipment
Project
New Drum Cabinet Stamping
Equipment Project for Washing 3971681.42 3971681.42
Machines
Washing Machine New Dryer
Cabinet Front Cover Stamping & 3706194.70 3706194.70 3706194.70 3706194.70
Forming Equipment Project
New air-conditioning system project
for improving the production
3633896.523633896.52
environment of Building No. 2 at
Factory No. 2
Quality Assurance Department
Application for Changhong Meiling
2996667.452996667.452777198.422777198.42
Testing Center Intelligent Testing
Equipment Renewal Project
Hefei Manufacturing Base
Refrigerator Front-end Production 2880542.45 2880542.45 3954416.71 3954416.71
Capacity Improvement Project
Drum Washing Machine Injection
Rear Tub Bearing and Water Seal 2575115.04 2575115.04 1311504.42 1311504.42
Pressing Automatic Line Project
New Drum Cabinet Riveting and
Forming Equipment Project for 2384070.80 2384070.80
Washing MachinesNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance Beginning balance
Provisio Provisio
Items n for n for
Carrying balance Carrying value Carrying balance Carrying value
impairm impair
ent ment
Equipment to be installed 2380067.90 2380067.90 14127931.84
14127931.84
New Inner Drum Riveting and
Forming Equipment Project for 2376106.19 2376106.19
Washing Machines
New No. 12 Door Shell Forming
Line Project at the Self-Made Parts 2328761.06 2328761.06
Factory
Drum Washing Machine New Inner
Tub Stamping and Sub-assembly
2208849.562208849.562208849.562208849.56
Line Equipment Procurement
Project
New Cabinet Shell Forming Line
Project at the Self-Made Parts 1907564.36 1907564.36
Factory
New Air-Conditioning System for
Positions on the K and T Production
1764628.321764628.32
Lines of the Washing Machine
Business
Factory No.2 Application for Line D
Door Foaming Crawler 10-station
1731388.491731388.491243407.081243407.08
and Foaming Machine Renewal
Project
Fixed Asset Investment Project for
The New Box Liner Thermoforming 1672566.37 1672566.37
Machine at Factory No. 3
Washing Machine Premounting
1610619.471610619.471610619.471610619.47
Suspension Chain Project
Project for Upgrading Two 7-Station
1595834.681595834.68
Door Foaming Units
Washing Machine 2024 Investment
in Injection Molding Equipment
Supporting Foundation and 1587525.62 1587525.62 1486608.19 1486608.19
Water-Electricity-Gas Infrastructure
Project
New Steel Platform Project for 1495398.23 1495398.23Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance Beginning balance
Provisio Provisio
Items n for n for
Carrying balance Carrying value Carrying balance Carrying value
impairm impair
ent ment
Building No. 8 of the Washing
Machine Plant
In-House Manufacturing Project for
Metal Back Panels of Large 1410177.00 1410177.00
Refrigerators
Freezer Domestic and Overseas New
Product Door Shell Equipment Line 1247787.61 1247787.61 1247787.61 1247787.61
Renewal Project
Automatic Feeding and Stacking
Project for Inner Liners Using 1231946.90 1231946.90
Robots at Hefei Factory No. 3
Lean Manufacturing Department
Application for Industrial IoT 1175353.98 1175353.98 1175353.98 1175353.98
Platform Construction Project
Mianyang Meiling 320 Mold Project 1170354.00 1170354.00 1201327.45 1201327.45
Meiling Procurement Digital Carbon
1106132.081106132.081106132.081106132.08
Management Platform Project
Technical Upgrade Project for Sheet
Metal Cabinet Riveting Line
1104424.781104424.78
Equipment at Hefei Washing
Machine Manufacturing Plant
Washing Machine Performance
1053982.301053982.301053982.301053982.30
Laboratory Phase IV Project
Technical Upgrade Project for
1012743.361012743.36
Assembly Line Equipment
BD-102PEQNRA Project
Equipment Renewal and Renovation 972920.35 972920.35 1149026.54 1149026.54
Project
In-house Parts Factory Equipment
Technical Renovation and Renewal 859203.54 859203.54 1114955.75 1114955.75
Project
Hefei Refrigerator Manufacturing
Company Sheet Extrusion and
838776.23838776.233926794.823926794.82
Crushing Capacity Improvement
ProjectNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance Beginning balance
Provisio Provisio
Items n for n for
Carrying balance Carrying value Carrying balance Carrying value
impairm impair
ent ment
Factory No.1 Line Q Production
Capacity Improvement Planning 379782.28 379782.28 1122494.37 1122494.37
Renovation Project
Large Refrigerator Back Multi-Gun
Injection Equipment Renewal 273913.07 273913.07 398913.66 398913.66
Project
Factory No.2 Line B Production of
830-width Refrigerator Foaming and 97398.31 97398.31 2116275.24 2116275.24
Line Equipment Renewal Project
No.1 and No.3 Factory Premounting
and Cleaning & Packaging Steel 61946.91 61946.91 4051910.00 4051910.00
Platform Construction Project
Special Renovation for Air
Conditioning Company Site
Utilization Improvement
32273.7232273.723815677.673815677.67
(Infrastructure & Fire Renovation
Project - Steel Platform for 2026
Cold Year)
Factory No.1 Vacuum Line
2352920.362352920.36
Renovation 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
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) ProjectNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance Beginning balance
Provisio Provisio
Items n for n for
Carrying balance Carrying value Carrying balance Carrying value
impairm impair
ent ment
Washing Machine Division Park
Infrastructure Hardening and
1054032.071054032.07
Forklift Charging Area Expansion
Project
Liquid Nitrogen Tank Production
446882.87446882.87
Line Construction Project
Other Miscellaneous Projects 50019947.26 50019947.26 30586290.49
30586290.49
127282346.9
Total 207909169.42 207909169.42 127282346.90
0
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
Mianyang
Changhong
Smart Home 410000000.00 2349208.15 57407216.55 59756424.70
Appliance
Project
Hefei
Manufacturing
Base
Refrigerator
Front-end 88000000.00 3954416.71 1241338.60 1985301.36 329911.50 2880542.45
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 (%)Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Mianyang
Changhong
14.57 39.87 Self-raised
Smart Home
Appliance Project
Hefei
Manufacturing
Base Refrigerator
Front-end
83.76 92.76 Self-raised
Production
Capacity
Improvement
Project
19. Right-of-Use Assets
Items Buildings Total
Original carrying value
Beginning balance 178280202.33 178280202.33
Increase for the period 6730581.59 6730581.59
(1) New leases 6730581.59 6730581.59
Decrease for the period 1499458.90 1499458.90
(1) Lease expiration and contract modification 1499458.90 1499458.90
(2) Effect of foreign currency translation
Ending balance 183511325.02 183511325.02
Accumulated depreciation
Beginning balance 45358632.56 45358632.56
Increase for the period 15788973.90 15788973.90
(1) Depreciation provided 15788973.90 15788973.90
(2) Effect of foreign currency translation
Decrease for the period 463880.67 463880.67
(1) Lease expiration and contract modification 463880.67 463880.67Notes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Items Buildings Total
(2) Effect of foreign currency translation
Ending balance 60683725.79 60683725.79
Carrying value
Carrying amount at end of period 122827599.23 122827599.23
Carrying amount at beginning of period 132921569.77 132921569.77
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.
20. Intangible Assets
(1) Details
Non-patented Patented
Items Land use rights Trademarks Others Total
technologies technologies
Original carrying
value
Beginning
988333643.52283292439.34924871901.56368432821.7014832739.042579763545.16
balance
Increase for the
84377309.2878000860.351413717.31163791886.94
period
1) Purchase 1413717.31 1413717.31
2) Internal
research and 82807555.94 78000860.35 160808416.29
development
3) Others 1569753.34 1569753.34
Decrease for the
1569753.341569753.34
period
1) Disposal
2) Others 1569753.34 1569753.34
Ending balance 988333643.52 283292439.34 1009249210.84 444863928.71 16246456.35 2741985678.76
Accumulated
amortizationNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Beginning
291801640.58283292439.34710573607.80166079353.906582685.071458329726.69
balance
Increase for the
10445604.5946731321.9427783336.09806098.3685766360.98
period
1) Provision
10445604.5946129583.1627783336.09806098.3685164622.20
made
2) Others 601738.78 601738.78
Decrease for the
601738.78601738.78
period
1) Disposal
2) Others 601738.78 601738.78
Ending balance 302247245.17 283292439.34 757304929.74 193260951.21 7388783.43 1543494348.89
Provision for
impairment
Beginning
56977752.3628838200.494124734.6189940687.46
balance
Increase for the
period
1) Provision
made
Decrease for the
period
Ending balance 56977752.36 28838200.49 4124734.61 89940687.46
Carrying value
Carrying amount
686086398.35194966528.74222764777.014732938.311108550642.41
at end of period
Carrying amount
at beginning of 696532002.94 157320541.40 173515267.31 4125319.36 1031493131.01
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 5.86%.
21. Development Expenditures
Items Ending balance Beginning balanceNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Provision Provision
Carrying Carrying Carrying
for for Carrying value
balance value balance
impairment impairment
Air
conditioning
84270637.0884270637.08101913608.16
technology 101913608.16
development
Refrigerator
and washing
machine 55231263.31 55231263.31 56318184.77
56318184.77
technology
development
Total 139501900.39 139501900.39 158231792.93 - 158231792.93
22. Goodwill
(1) Original Carrying Value of Goodwill
Generated Decrease for the period
from
Name of investee or
Beginning business
item generating Ending balance
balance combinatio
goodwill Disposal Others
ns during
the period
Hefei Meiling Group
3553367.773553367.77
Holdings Limited
Total 3553367.77 3553367.77
(2) Provision for Goodwill Impairment
Decrease for the
Increase for the period
period
Name of investee or item Beginning Generated Ending
generating goodwill balance from balance
Provision Disposal Others
business
combinations
Hefei Meiling Group
3553367.773553367.77
Holdings Limited
Total 3553367.77 3553367.77Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
23. Long-term Deferred Expenses
Amortization
Beginning Increase for the Other
Items during the Ending balance
balance period decreases
period
Major repairs of
25110651.219287609.006508614.4727889645.74
fixed assets
Decoration
expenses for leased 1316720.60 2691047.25 695499.29 3312268.56
factory buildings
Total 26427371.81 11978656.25 7204113.76 31201914.30
24. Deferred Tax Assets and Deferred Tax Liabilities
(1) Deferred Tax Assets before Offset
Ending balance Beginning balance
Items Deductible Deductible
temporary Deferred tax assets temporary Deferred tax assets
differences differences
Deductible
93502626.6814025394.00
losses
Provision for
367642723.1055850693.01341581651.1251681423.52
asset impairment
Lease liabilities 131450738.00 20068183.15 143543312.41 21710453.52
Changes in fair
43926065.836588909.8829764667.954464700.19
value
Deferred income 151028722.16 22654308.33 97796982.41 14669547.37
Estimated
55169048.498791166.7851041265.608135319.96
liabilities
Termination
10636766.791595515.0210983002.421647450.36
benefits
Accrued
10873264.372385023.917497503.911587503.15
expenses
Accelerated
depreciation and
127747271.2219162090.6868937395.7110340609.34
amortization of
intangible assets
Accelerated
29181.237295.3129181.237295.31
depreciation ofNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending balance Beginning balance
Items Deductible Deductible
temporary Deferred tax assets temporary Deferred tax assets
differences differences
fixed assets
Total 898503781.19 137103186.07 844677589.44 128269696.72
(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
150454718.9322591956.32136597278.0320489591.71
value
Right-of-use
121287673.2618625642.21132247656.6720004355.88
assets
Fixed assets
eligible for
22398702.313512463.6427403603.794110540.55
one-off pre-tax
deduction
Total 294141094.50 44730062.17 296248538.49 44604488.14
(3) Details of Unrecognized Deferred TaxAssets
Items Ending balance Beginning balance
Deductible temporary
212748092.94194372164.05
differences
Deductible losses 421893653.79 370642657.51
Total 634641746.73 565014821.56
(4) Details of Unrecognized Deferred Tax Assets
Year Ending balance Beginning balance Remarks
2026 years 24398143.32 26467201.28
2027 years 5089930.41 10218730.81
2028 years 14560418.22 21566032.72
2029 years 7954997.02 13093023.25
2030 years 273846176.78 263177745.28Notes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Year Ending balance Beginning balance Remarks
2031 years 67317192.21 13541849.08
2032 years 3059459.16 3059459.16
2033 years 18277679.69 11280112.90
2034 years 6076416.80 6076416.80
2035 years 1313240.18 2162086.23
Total 421893653.79 370642657.51
25. Other Non-current Assets
Ending balance Beginning balance
Provision
Items ProvisionCarrying for Carrying Carrying
Carrying value for
balance impairmen balance value
impairment
t
Prepaid
equipment 4978121.04 4978121.04 18616047.73 18616047.73
payments
Retention
money due
after more 10562204.73 30000.00 10532204.73 8270444.61 30000.00 8240444.61
than one
year
Total 15540325.77 30000.00 15510325.77 26886492.34 30000.00 26856492.34
26. Assets with Restricted Ownership or Right to Use
Carrying amount at Carrying amount at Type of
Items Reason for restriction
the end of the period end of period restriction
Cash and cash Deposits; frozen due to
1184227978.06 1184227978.06 Frozen
equivalents litigation
Accounts
Pledged for the issuance of
receivable 39867167.11 39867167.11 Pledged
bank acceptances
financing
Total 1224095145.17 1224095145.17
(Continued)Notes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Carrying balance at
Carrying amount at Type of
Items the beginning of Reason for restriction
beginning of period restriction
period
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
27. Short-term Borrowings
Items Ending balance Beginning balance
Credit borrowings 811730800.00 810000000.00
Accrued interest 1161309.74 99931.94
Total 812892109.74 810099931.94
28. Derivative Financial Liabilities
Items Ending balance Beginning balance
Forward foreign exchange
65264252.0838804849.55
contracts
Total 65264252.08 38804849.55
29. Notes Payable
Items Ending balance Beginning balance
Bank acceptances 7767113991.64 5646391113.85
Finance company acceptances 537126208.90 525846010.64
Trade acceptances 1187271447.65 832421432.10
Total 9491511648.19 7004658556.59
30. Accounts PayableNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
(1) Details
Items Ending balance Beginning balance
Within 1 year 7952662878.46 4831069605.70
Over 1 years 85845567.08 103254536.06
Total 8038508445.54 4934324141.76
(2) Material accounts payable with aging over 1 year or overdue: None.
31. Advances Received
Items Ending balance Beginning balance
Advance rentals received 32214.87 20340.81
Total 32214.87 20340.81
32. Contract Liabilities
(1) Details
Items Ending balance Beginning balance
Within 1 year 356244115.21 842366548.85
Over 1 years 30437887.92 29425792.31
Total 386682003.13 871792341.16
(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
Increase in advances received from
Purchase price 485110338.03
customers
Subtotal 485110338.03
33. Employee Benefits PayableNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
(1) Details
Increase for the Decrease for the
Items Beginning balance Ending balance
period period
Short-term employee
377967784.98995031753.681056699103.22316300435.44
benefits
Post-employment
benefits - defined 677501.75 92416438.05 92424095.78 669844.02
contribution plans
Termination benefits 3479369.30 5815223.70 5806894.76 3487698.24
Total 382124656.03 1093263415.43 1154930093.76 320457977.70
(2) Details of short-term employee benefits
Increase for the Decrease for the
Items Beginning balance Ending balance
period period
Wages bonuses
allowances and 369154423.50 886589396.77 949684376.58 306059443.69
subsidies
Employee benefits 1051039.74 23677581.13 22609746.01 2118874.86
Social insurance
1354729.5839012592.1439108176.331259145.39
premiums
Including: Medical
1343294.6934886257.3135003980.831225571.17
insurance premiums
Work-related
injury insurance 11434.89 4126334.83 4104195.50 33574.22
premiums
Housing provident
5659658.4242709415.9642667644.625701429.76
fund
Union funds and
employee education 747933.74 3042767.68 2629159.68 1161541.74
funds
Subtotal 377967784.98 995031753.68 1056699103.22 316300435.44
(3) Details of Defined Contribution Plans
Increase for the Decrease for the
Items Beginning balance Ending balance
period period
Basic endowment
552273.6588008803.1287905078.73655998.04
insurance
Unemployment
14294.103215794.933216243.0513845.98
insurance premiumsNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Increase for the Decrease for the
Items Beginning balance Ending balance
period period
Enterprise annuity 110934.00 1191840.00 1302774.00
Subtotal 677501.75 92416438.05 92424095.78 669844.02
34. Taxes Payable
Items Ending balance Beginning balance
Enterprise income tax 23601784.10 24844863.64
Value-added tax (vat) 61031586.10 15566027.40
Individual income tax 1979706.39 4797953.08
Property tax 4767675.17 4563576.79
Stamp duty 5965604.28 4341842.65
Urban maintenance and construction tax 4395938.66 3529283.57
Education surcharge 3277060.62 2527524.02
Land use tax 1752087.56 1751869.79
Other local taxes and surcharges 1162736.19 1224779.32
Total 107934179.07 63147720.26
35. Other Payables
(1) Details
Items Ending balance Beginning balance
Dividends payable 8427733.48 7492505.08
Other payables 1185621709.61 1147202585.58
Total 1194049443.09 1154695090.66
(2) Dividends payable
Dividends payable classified by payee name
Items Ending balance Beginning balanceNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Items Ending balance Beginning balance
China Life Insurance (Group) Company 43992.07 43992.07
The People’s Insurance Company (Group) of
65987.5765987.57
China Limited
Bank of Communications - Fuguo Tianyi
153697.50153697.50
Value Securities Investment Fund
Hefei Branch of Bank of China 963000.20 833894.30
Hefei Collective Industrial Association 962998.66 833892.97
Wuhu Office of Provincial Trust and
770400.18667115.46
Investment Corporation
Other miscellaneous entities 5467657.30 4893925.21
Total 8427733.48 7492505.08
(3) Other Payables Classified by Nature of Funds
Items Ending balance Beginning balance
Accrued expenses 507224698.26 544978719.66
Temporary receipts and withheld amounts 12855265.20 10168937.36
Deposits and margins 189260388.35 192446034.92
Related party balances 451421070.22 372996153.41
Others 24860287.58 26612740.23
Total 1185621709.61 1147202585.58
36. Non-current Liabilities Due within One Year
Items Ending balance Beginning balance
Principal and interest of long-term borrowings
20007.78
due within one year
Principal and interest of lease liabilities due
30000731.4329140800.72
within one year
Product quality guarantees due within one
19231421.9916844394.33
year
Total 49232153.42 46005202.83Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
37. Other Current Liabilities
Items Ending balance Beginning balance
Unamortized output tax 16407270.65 48960484.35
Payable factoring fees 4849952.26 5041493.32
Total 21257222.91 54001977.67
38. Long-term Borrowings
Items Ending balance Beginning balance
Credit borrowings 135000000.00 111115811.06
Accrued interest 67500.00 62856.19
Total 135067500.00 111178667.25
39. Lease Liabilities
Items Ending balance Beginning balance
Lease payments 115407287.85 129418008.45
Less: Unrecognized financing expenses 12739938.14 15015496.76
Total 102667349.71 114402511.69
40. Long-term Payables
(1) Details
Items Ending balance Beginning balance
Special payables 30287.50 117944.72
Total 30287.50 117944.72
(2) Special payables
Beginning Increase for the Decrease for the
Items Ending balance
balance period period
Zhongshan special fund for
117944.7287657.2230287.50
technical renovationNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Subtotal 117944.72 87657.22 30287.50
41. Long-term Employee Benefits Payable
Items Ending balance Beginning balance
Termination benefits 8594486.68 9021087.36
Total 8594486.68 9021087.36
42. Estimated Liabilities
Items Ending balance Beginning balance
Product quality guarantees [Note] 33711878.90 31585507.67
Pending litigation 1878439.99
Others 887740.99
Total 34599619.89 33463947.66
[Note] Provision for product quality guarantees is accrued for three-guarantee
maintenance fees in accordance with the national three-guarantee policy.
43. Deferred Income
Beginning Increase for the Decrease for the Reason for
Items Ending balance
balance period period recognition
Project
Government
development 113508189.11 69073456.28 14155805.63 168425839.76
grants
subsidies
Relocation Government
25548518.651564498.1423984020.51
allowances grants
Total 139056707.76 69073456.28 15720303.77 192409860.27
44. Share CapitalNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Changes during the period (decreases are indicated
by “-”)
Capital
Beginning reserve
Items Issuance Share Ending balance
balance conversi
of new dividen Others Subtotal
on to
shares ds
share
capital
Total
1029923715.001029923715.00
shares
45. Capital Reserves
(1) Details
Increase for the Decrease for the
Items Beginning balance Ending balance
period period
Capital premium 2701735206.68 2701735206.68
Other capital
48043091.4048043091.40
reserves
Total 2749778298.08 2749778298.08
(2) Other notes
46. Treasury Stock
(1) Details
Beginning Increase for the Decrease for the
Items Ending balance
balance period period
Share repurchase 86960746.82 63075294.56 150036041.38
Total 86960746.82 63075294.56 150036041.38
(2) Other notes
The change in treasury stock during the period was mainly due to the Company’s share
repurchase.
47. Other Comprehensive Income
Beginning Amounts incurred during the period
Items Ending balance
balance Net of tax of other comprehensive income Less: Amounts
previouslyNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Less:
Amounts
previously
included
in other
Amounts comprehe
Less: Attributable Attributable
incurred nsive
Income to the parent to minority
before income income
tax company shareholder
tax in the and
expenses after tax s after tax
current period transferre
d to profit
or loss in
the
current
period
Other
comprehen
sive
income to
-23780049.29-3075058.66-2994370.30-80688.36-26774419.59
be
reclassified
into profit
or loss
Including:
Foreign
currency
financial -23780049.29 -3075058.66 -2994370.30 -80688.36 -26774419.59
statement
translation
difference
Total other
comprehen
-23780049.29-3075058.66-2994370.30-80688.36-26774419.59
sive
income
48. Special ReserveNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
(1) Details
Increase for the Decrease for the
Items Beginning balance Ending balance
period period
Production safety fees 38391282.14 21304454.69 9681315.99 50014420.84
Total 38391282.14 21304454.69 9681315.99 50014420.84
(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.
49. Surplus Reserves
(1) Details
Increase for the Decrease for
Items Beginning balance Ending balance
period the period
Statutory surplus
435755349.30435755349.30
reserves
Discretionary surplus
115607702.16115607702.16
reserves
Total 551363051.46 551363051.46
50. Undistributed Profits
Corresponding prior
Items Current period amount
period amount
Undistributed profits at the end of the previous period
1824833314.771803207185.06
before adjustment
Total adjustment to undistributed profits at the
beginning of the period (“+” for increase “?” for
decrease)
Undistributed profits at the beginning of the period after
1824833314.771803207185.06
adjustment
Add: Net profit attributable to owners of the parent
57982645.46410409936.09
company for the periodNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Corresponding prior
Items Current period amount
period amount
Less: Appropriation of statutory surplus reserves 48908980.44
Appropriation of general risk reserves
Dividends payable to ordinary shareholders 211543125.57 339874825.94
Undistributed profits at the end of the period 1671272834.66 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
16006961183.6314746673312.5617934000029.1816111118535.91
principal operations
Revenue from other
129224529.0370240129.72137515812.9773111017.88
operations
Total 16136185712.66 14816913442.28 18071515842.15 16184229553.79
(2) Breakdown of Operating Revenue and Operating Costs
Current period amount Corresponding prior period amount
Items
Revenue Costs Revenue Costs
By product type:
Including: Air conditioners 9034407289.56 8662395521.37 11575132133.83 10767469443.16
Refrigerators
4835416051.884181137532.684545124381.313817805494.89
(freezers)
Washing machines 1212439098.54 1103735418.21 1040297063.65 860191967.10
Kitchen and
bathroom products and 759543212.44 670883030.76 698777012.65 609727061.54
small household appliances
Other products 165155531.21 128521809.54 74669437.74 55924569.22
Other operations 129224529.03 70240129.72 137515812.97 73111017.88
By operating region:Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Including: Domestic 9738517015.57 8917147268.34 11704228305.86 10533000655.34
Overseas 6397668697.09 5899766173.94 6367287536.29 5651228898.45
Subtotal 16136185712.66 14816913442.28 18071515842.15 16184229553.79
(3) Transaction Price Allocated to Remaining Performance Obligations
June 30 2026 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 26367380.68 Of which RMB 26157512.95 was expected to be
recognized as revenue in 2026 and RMB 209867.73 was expected to be recognized as
revenue in 2027 and subsequent years.
2. Taxes and Surcharges
Corresponding prior period
Items Current period amount
amount
Stamp duty 13137571.57 15212183.90
Urban maintenance and construction tax 13180055.93 12970196.28
Property tax 12478288.39 12283335.94
Education surcharge 10127933.91 10076956.20
Land use tax 4821475.73 4513182.26
Water conservancy fund 3682563.55 3915580.03
Other taxes and surcharges 27177.38 17932.94
Total 57455066.46 58989367.55
3. Selling Expenses
Corresponding prior period
Items Current period amount
amountNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Corresponding prior period
Items Current period amount
amount
Wages surcharges and labor services 311552502.78 314016874.12
Marketing support expenses 170880416.40 201984864.34
Transportation expenses 109458803.95 102076111.15
Warehousing and rental expenses 75858976.77 77992927.54
Insurance expenses 29848076.98 37015580.01
Travel expenses 17872670.29 22428121.23
Business activities expenses 7236990.32 7709818.45
Vehicle expenses 5467705.18 5186209.76
Service support expenses 4620386.40 5084672.79
Depreciation expenses 7686378.89 5870513.19
Others 35336398.26 55156930.30
Total 775819306.22 834522622.88
4. Administrative Expenses
Corresponding prior period
Items Current period amount
amount
Wages social insurance etc. 94634019.94 135241937.24
Depreciation and amortization 25629412.16 23578248.25
Software usage fees 1267069.18 5242763.53
Water and electricity expenses 2106839.78 3808112.62
Service support expenses 5333243.83 2790328.64
Property insurance expenses 1604383.83 2993293.26
Domestic travel expenses 1978888.86 1923419.88
Others 22001680.20 21211095.40
Total 154555537.78 196789198.82
5. Research and Development ExpensesNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Corresponding prior period
Items Current period amount
amount
Wages social insurance etc. 154482948.85 137485656.47
Depreciation and amortization 120909563.36 122849793.67
Research and development trial
production and technical development 28908648.86 42787220.38
expenses
Inspection and certification fees 10219577.55 4117838.43
Others 22428392.55 17650406.22
Total 336949131.17 324890915.17
6. Financial Expenses
Corresponding prior period
Items Current period amount
amount
Interest expenses 20734965.36 16981902.08
Including: Amortization of unrecognized
2893143.792570683.48
financing expenses
Less: Interest income 53389019.64 71912776.32
Add: Exchange loss -13214242.27 50264386.11
Discount expenses -9352458.52 -16786123.47
Bank service charges 8962454.24 10430436.36
Total -46258300.83 -11022175.24
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 assets 15807960.99 14473492.64 15807960.99
Government grants related to income 10228884.52 23223527.95 7355452.24
Including: VAT refund upon
2873432.282740909.86
collectionNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Handling fee refund for withholding
1023882.81927431.44
individual income tax
Additional VAT deduction 15606960.80 41515022.75
Debt restructuring income 84052.53
Total 42667689.12 80223527.31 23163413.23
8. Investment Income
Current period Corresponding prior
Items
amount period amount
Income from long-term equity investments
3222525.843878898.03
accounted for under the equity method
Investment income from disposal of long-term
38829.19
equity investments
Investment income from other non-current financial
4618767.1013209863.22
assets held during the period
Investment income from disposal of tradable
20326780.8017632788.91
financial assets
Investment income from disposal of derivative
8700871.97-41561284.50
financial assets
Interest income from debt investments held during
26660555.2723874062.41
the period
Gains on derecognition of financial assets measured
-6861595.42-18998835.41
at amortized cost
Total 56667905.56 -1925678.15
9. Income from Fair Value Changes
Current period Corresponding prior
Items
amount period amount
Trading financial assets 6756891.42 6929526.59
Including: Gains from changes in the fair value of
6756891.426929526.59
structured deposits
Derivative financial assets 19416004.46 -27731486.38Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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 arising
19416004.46-27731486.38
from derivative financial instruments
Derivative financial liabilities -26459402.53 103085810.61
Including: Income from fair value changes arising
-26459402.53103085810.61
from derivative financial instruments
Other non-current financial assets measured at fair
2843468.76-
value
Including: Amount of fair value changes of
non-trading equity instruments recognized in 2843468.76 -
profit or loss for the current period
Total 2556962.11 82283850.82
10. Credit Impairment Losses
Current period Corresponding prior
Items
amount period amount
Bad debt losses on accounts receivable -20814779.04 -67667242.96
Bad debt losses on other receivables -174894.68 -364850.41
Total -20989673.72 -68032093.37
11. Asset Impairment Losses
Current period Corresponding prior
Items
amount period amount
Inventory impairment losses -50241360.32 -65476409.46
Contract asset impairment losses 928.17
Total -50241360.32 -65475481.29
12. Gains on Disposal of Assets
Current period Corresponding prior
Items
amount period amount
Gains on disposal of non-current assets 9849.97 108659.65
Including: Gains on disposal of non-current assets 9849.97 108659.65Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Current period Corresponding prior
Items
amount period amount
not classified as held for sale
Gains on disposal of right-of-use assets 10846.79
Gains on disposal of fixed assets -996.82 108659.65
Total 9849.97 108659.65
13. Non-operating Income
Amount included
Current period Corresponding in non-recurring
Items
amount prior period amount gains and losses
for the period
Liquidated damages income 12956071.50 808033.01 12956071.50
Others 630469.82 1486053.25 630469.82
Total 13586541.32 2294086.26 13586541.32
14. Non-operating Expenses
Amount included
Corresponding
Current period in non-recurring
Items prior period
amount gains and losses for
amount
the period
Losses on disposal of non-current
88228.611894696.9188228.61
assets
Donation expenses 599391.32 300000.00 599391.32
Others 160677.38 273954.08 160677.38
Total 848297.31 2468650.99 848297.31
15. Income tax expenses
Current period Corresponding prior
Items
amount period amount
Current income tax expenses 27338006.99 47092203.88
Deferred income tax expenses -8707915.32 33589651.11Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Current period Corresponding prior
Items
amount period amount
Total 18630091.67 80681854.99
16. Other Comprehensive Income
For other comprehensive income please refer to Note V(I)47 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
Corresponding prior
Items Current period amount
period amount
Government grants and incentives 74910783.88 23487742.60
Deposits and margins 17593907.99 20893872.41
Others 12158901.44 20473713.52
Total 104663593.31 64855328.53
(2) Other Cash Paid Relating to Operating Activities
Corresponding prior
Items Current period amount
period amount
Cash paid for operating expenses 489578227.34 530326567.11
Imprests deposits and margins 27703283.70 53385394.85
Total 517281511.04 583711961.96
2. Cash Relating to Investing Activities
(1) Material Cash Received Relating to Investing Activities
Corresponding prior
Items Current period amount
period amount
Structured deposits 14602000000.00 10195000000.00
Total 14602000000.00 10195000000.00Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
(2) Material Cash Paid Relating to Investing Activities
Corresponding prior
Items Current period amount
period amount
Structured deposits 16609000000.00 12325000000.00
Total 16609000000.00 12325000000.00
(3) Other Cash Received Relating to Investing Activities
Corresponding prior
Items Current period amount
period amount
Interest income on bank deposits 49458417.15 76719151.31
Deposits 13138135.12 7074091.67
Interest on previous holders of large-sum certificates of
3848388.87
deposit
Gains on forward foreign exchange settlement 87824284.12 53485.32
Total 154269225.26 83846728.30
(4) Other Cash Paid Relating to Investing Activities
Corresponding prior
Items Current period amount
period amount
Losses on forward foreign exchange settlement 90873145.66
Interest on previous holders of large-sum certificates of
6567929.99
deposit
Deposits 9125253.71 5968622.54
Total 9125253.71 103409698.19
3. Cash Relating to Financing Activities
(1) Other Cash Received Relating to Financing Activities
Corresponding prior
Items Current period amount
period amount
Restored restricted funds 98078811.50 6666033.87
Funds from bill discounting 1431940147.83 531629478.66
Total 1530018959.33 538295512.53
(2) Other Cash Paid Relating to Financing ActivitiesNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Corresponding prior
Items Current period amount
period amount
Funds from bill discounting 18977201.19
Share repurchase payments 63075294.56
Funds transferred to restricted use 866072361.44 219948063.36
Principal and interest of lease liabilities 17185582.66 13373499.63
Accounts receivable factoring financing fees 1046875.00 9810310.42
Lease security deposits 124027.50
Dividend payment handling fees 78496.82 150305.59
Total 947582637.98 262259380.19
4. Supplementary Information to the Cash Flow Statement
Corresponding prior
Supplementary Information Current period amount
period amount
(1) Reconciliation of Net Profit to Cash Flows from
Operating Activities
Net profit 65531054.64 429442724.43
Add: Provision for asset impairment 50241360.32 18477052.07
Provision for credit impairment 20989673.72 68384930.38
Depreciation of fixed assets right-of-use assets
investment properties depletion of oil and gas assets and 150288896.72 138945315.54
depreciation of productive biological assets
Amortization of intangible assets 85164622.20 82303366.91
Amortization of long-term deferred expenses 7204113.76 11318427.25
Losses on disposal of fixed assets intangible assets and
-9849.97-108659.65
other long-term assets (gains are shown with “?”)
Losses on write-off of fixed assets (gains are shown with
34484.281815264.83
“?”)
Losses on fair value changes (gains are shown with “?”) -2556962.11 -82283850.82
Financial expenses (income is shown with “?”) -45868296.55 -4666488.13
Investment losses (gains are shown with “?”) -56667905.56 1925678.15
Decrease in deferred tax assets (increase is shown with
-8833489.3530597079.24
“?”)
Increase in deferred tax liabilities (decrease is shown 125574.03 2992571.87Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Corresponding prior
Supplementary Information Current period amount
period amount
with “?”)
Decrease in inventories (increase is shown with “?”) -418689247.96 -433858750.05
Decrease in operating receivables (increase is shown
-4382194373.01-1897314757.74
with “?”)
Increase in operating payables (decrease is shown with
4858878145.852992603757.43
“?”)
Others
Net cash flows generated from operating activities 323637801.01 1360573661.71
(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 8704609893.30 8750601098.76
Less: Beginning balance of cash 9759861189.08 9976098734.11
Add: Ending balance of cash equivalents
Less: Beginning balance of cash equivalents
Net increase in cash and cash equivalents -1055251295.78 -1225497635.35
5. Composition of Cash and Cash Equivalents
(1) Details
Items Ending balance Beginning balance
1) Cash 8704609893.30 9759861189.08
Including: Cash on hand 6370.01 9657.12
Cash in banks available for payment at any time 8703545457.51 9730415989.13
Other monetary funds available for payment at any
1058065.7829435542.83
time
2) Cash equivalents
Including: Bond investments due within three monthsNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Items Ending balance Beginning balance
3) Ending balance of cash and cash equivalents 8704609893.30 9759861189.08
(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 acceptances and 1177227978.06 409234428.12 Restricted in use
platform deposits
Funds judicially frozen due to
7000000.00 7000000.00 Restricted in use
contract disputes
Accrued interest 13021662.56 10566252.74 Accrual of interest
Subtotal 1197249640.62 426800680.86
6. Changes in Liabilities Related to Financing Activities
Increase for the period Decrease for the period
Beginning
Items Non-cash Non-cash Ending balancebalance Changes in cash Changes in cash
changes changes
Short-term
810099931.941053613600.006385752.781055324374.981882800.00812892109.74
borrowings
Long-term
borrowings
(including
long-term 111198675.03 31500000.00 1130051.47 8761226.50 135067500.00
borrowings
due within
one year)
Lease
liabilities
(including
lease 143543312.41 3738469.24 11628771.09 2984929.42 132668081.14
liabilities
due within
one year)
Dividends
7492505.08216117909.63215182681.238427733.48
payable
Subtotal 1072334424.46 1085113600.00 227372183.12 1290897053.80 4867729.42 1089055424.36
7. Cash Flows Presented on a Net BasisNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Basis for presentation on a Financial
Items Relevant facts and circumstances
net basis impact
The Company presents gains or losses on
Forward foreign foreign exchange contract settlement on a legal
The information presented
exchange entity basis in other cash received relating to None
is more intuitive
settlement investing activities and other cash paid relating
to investing activities
The Company presents annual changes in
restricted funds on a legal entity basis in other Reflected on a rolling
Restricted funds None
cash received relating to financing activities and basis
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
Funds from bill received from sale of goods and rendering of Reflected on a rolling
None
discounting services / cash paid for purchase of goods and basis
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
1. Foreign Currency Monetary Items
(1) Details
Translation
Ending foreign Ending RMB balance
Items exchange
currency balance after translation
rate
Cash and cash equivalents 793984234.83
Including: US Dollar 87943641.31 6.810900 598975346.60
Euro 12360784.54 7.767100 96007449.60
Japanese yen 13087501.00 0.042050 550329.42Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Australian Dollar 10968571.22 4.680400 51337300.74
Pakistani Rupee 1115278477.34 0.024500 27324322.69
Indonesian Rupiah 46314242205.15 0.000381 17645726.28
Philippine Peso 19278412.81 0.111200 2143759.50
Accounts receivable 1545538679.98
Including: US Dollar 177040616.41 6.810900 1205805934.31
Euro 15899012.96 7.767100 123489223.56
Japanese yen 1987290.00 0.042050 83565.54
Australian Dollar 16106012.64 4.680400 75382581.56
Pakistani Rupee 451721049.49 0.024500 11067165.71
Indonesian Rupiah 286375964989.16 0.000381 109109242.66
Philippine Peso 185260491.41 0.111200 20600966.64
Accounts receivable 711018.65
Including: US Dollar 3053169.43 6.810900 74802.65
Euro 683107592.00 7.767100 260263.99
Japanese yen 3380863.37 0.042050 375952.01
Accounts payable 171658030.77
Including: Pakistani Rupee 702024961.30 0.024500 17199611.55
Indonesian Rupiah 379002424065.14 0.000381 144399923.57
Philippine Peso 90454097.56 0.111200 10058495.65
Other payables 19041598.24
Including: Euro 28759.00 7.767100 223374.03
Pakistani Rupee 296589124.28 0.024500 7266433.54
Indonesian Rupiah 29030696859.00 0.000381 11060695.50
Philippine Peso 4416323.51 0.111200 491095.17
short-term borrowing 81730800.00Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Among them: US dollar 12000000.00 6.810900 81730800.00
(2) Explanation of Overseas Operations
Whether the
Principal Reason
Functional functional
Name of overseas company place of for
currency currency has
business change
changed
CHMeilingInternational(Phili
Philippines Philippine Peso No
ppines)Inc.ChanghongRubaTradingCom Lahore
Pakistani Rupee No
pany （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)19 to the financial
statements.
2) Lease expenses recognized in current profit or loss are as follows:
Current period Corresponding
Items
amount prior period amount
Interest expenses on lease liabilities 2893143.79 2570683.48
Short-term lease expenses 3661507.79 3106367.56
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 RMB 20901811.22.
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 LessorNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
1) Operating leases
Current period Corresponding
Items
amount prior period amount
Lease income 16994545.98 20395120.02
Fixed assets leased out under operating leases are disclosed in detail in Note V(I)17 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
Items Ending balance Beginning balance
Accounts payable 442810443.09 539876957.96
Including: Amounts received by suppliers 442810443.09 347852786.22
Subtotal 442810443.09 539876957.96
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 issuanceNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
VI. Research and Development Expenses
(I) R&D Expenses
Corresponding
Current period
Items prior period
amount
amount
Wages social insurance etc. 188769525.65 168360364.04
Amortization of intangible assets 73595945.03 71539912.48
Mold costs 107108987.96 84262371.24
R&D trial production costs 47727107.57 50013777.16
Technology development costs 11659608.63 21961821.90
Depreciation expenses 13253081.23 11441551.99
Inspection and certification fees 13964277.64 9485660.53
Domestic travel expenses 2544037.94 2000477.20
Other expenses 20405083.27 25048060.20
Total 479027654.92 444113996.74
Including: Expensed R&D expenses 336949131.17 324890915.17
Capitalized R&D expenses 142078523.75 119223081.57
(II) Development Expenditures
1. Changes in the Beginning and Ending Balances of Development Expenditures
Increase for the period Decrease for the period
Transfer
red to
Beginning
Items Internal Ot profit or Ot Ending balance
balance Recognized asdevelopment he loss for he
intangible assets
expenditures rs the rs
current
period
Air
conditionin
g
101913608.16111703400.92129346372.0084270637.08
technology
developmen
tNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Increase for the period Decrease for the period
Transfer
red to
Beginning
Items Internal Ot profit or OtRecognized as Ending balancebalance development he loss for he
intangible assets
expenditures rs the rs
current
period
Refrigerator
and
washing
machine 56318184.77 30375122.83 31462044.29 55231263.31
technology
developmen
t
Total 158231792.93 142078523.75 160808416.29 139501900.39
VII. Changes in the Scope of Consolidation
(I) Business combination under common control
Business combinations under common control occurred during the period: None.(II) Changes in Consolidation Scope Due to Other Reasons
1. Increase in Consolidation Scope: None
2. Decrease in Consolidation Scope: None
VIII. Interests in Other Entities
(I) Composition of the Group
1. The Company has included 24 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 Nature of
Name of Subsidiary Business Acquisitio
(RMB and Business Direct Indirect n
10000) Registratio
nNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Jiangxi Meiling
Jingdezhen Established
Electric Appliance
City Manufactur by capital
Co. Ltd. (hereinafter 5000.00 98.75 1.25
Jiangxi e and sales contributioreferred to as “JiangxiProvince nMeiling”)
Mianyang Meiling
Mianyang Established
Refrigeration Co.City Manufactur by capital
Ltd. (hereinafter 10000.00 95.00 5.00
Sichuan e and sales contributio
referred to as
Province n
“Mianyang Meiling”)
Zhongke Meiling
Cryogenic Established
Hefei City
Technology Co. Ltd. Manufactur by capital
9673.09 Anhui 47.4512
(hereinafter referred e and sales contributio
Provinceto as “Zhongke nMeiling”)
Anhui Tuoxing Technology
Established
Technology Co. Ltd. Hefei City research
by capital
(hereinafter referred 1000.00 Anhui and 47.4512
contributioto as “Anhui Province developmenTuoxing”) nt
Anhui Ling’an
Established
Medical Equipment Lu’an City
Manufactur by capital
Co. Ltd. (hereinafter 5000.00 Anhui 47.4512
e and sales contributio
referred to as Province
n
“Ling’an Medical”)
Sichuan Changhong
Business
Air Conditioner Co. Mianyang
combinatio
Ltd. (hereinafter City Manufactur
85000.00 100.00 n under
referred to as Sichuan e and sales
common“Changhong Air ProvincecontrolConditioner”)
Hongyuan Ground Mianyang Established
Energy Heat Pump City Manufactur by capital
10519.0892.87
Technology Co. Ltd. Sichuan e and sales contributio
(hereinafter referred Province nNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
nto as “HongyuanGround Energy”)
Hongyuan Ground Zhongshan Established
Energy Heat Pump City Manufactur by capital
10545.5692.87
Technology Guangdong e and sales contributio
(Zhongshan) Co. Ltd. Province n
Sichuan Changhong
Intelligent Air
Mianyang Established
Conditioner
City Manufactur by capital
Technology Co. Ltd. 10000.00 100.00
Sichuan e and sales contributio
(hereinafter referred
Province nto as “Intelligent AirConditioner”)
Zhongshan
Business
Changhong Electric Zhongshan
combinatio
Co. Ltd. (hereinafter City Manufactur
33400.00 90.00 10.00 n under
referred to as Guangdong e and sales
common“Zhongshan ProvincecontrolChanghong”)
Established
Changhong Ruba
by capital
Trading Company 8308.98 Pakistan Sales 60.00
contributio
(Private)Limited
n
Established
Changhong Meiling by capital
4027.20 Jakarta Sales 100.00
Electric IndonesiaPT contributio
n
Guangzhou Established
Guangzhou
City by capital
Changhong Trading 100.00 Sales 100.00
Guangdong contributio
Co. Ltd.Province n
Changhong Meiling Business
Zhongshan
Ridian Technology combinatio
City Manufactur
Co. Ltd. (hereinafter 8300.00 99.0361 n under
Guangdong e and salesreferred to as “Ridian commonProvinceTechnology”) controlNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Established
Hebei Hongmao Handan
Manufactur by capital
Household Appliance 500.00 City Hebei 99.0361
e and sales contributio
Technology Co. Ltd. Province
n
Hefei Meiling Group Business
Holdings Limited Hefei City combinatio
(hereinafter referred 8000.00 Anhui Sales 100.00 n not underto as “Meiling Province commonGroup”) control
Hefei Meiling
Business
Nonferrous Metal
Hefei City combinatio
Products Co. Ltd. Manufactur
2428.68 Anhui 100.00 n not under
(hereinafter referred e and sales
Province commonto as “NonferrouscontrolMetals”)
Business
Meiling Equator Hefei City combinatio
Manufactur
Home Appliance 2479.31 Anhui 100.00 n not under
e and sales
(Hefei) Co. Ltd. Province common
control
Business
Hefei City combinatio
Hefei Equator Manufactur
1200.00 Anhui 100.00 n not under
Electric Co. Ltd. e and sales
Province common
control
Established
CH-Meiling
by capital
International 688.91 Philippines Sales 100.00
contributio
(Philippines) Inc.n
Hefei Changhong
Meiling Life Established
Hefei City
Appliances Co. Ltd. by capital
5000.00 Anhui Sales 70.00
(hereinafter referred contributio
Provinceto as “Meiling Life nAppliances”)
Sichuan Hongmei 500.00 Mianyang Software 100.00 EstablishedNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Intelligent City developme by capital
Technology Co. Ltd. Sichuan nt contributio
(hereinafter referred Province nto as “HongmeiIntelligent”)
Hefei Changhong Business
Industrial Co. Ltd. Hefei City combinatio
Manufactur
(hereinafter referred 10000.00 Anhui 99.00 1.00 n under
e and salesto as “Changhong Province commonIndustrial”) control
Mianyang Established
Mianyang Changhong
City Manufactur by capital
Smart Home 50000.00 99.00 1.00
Sichuan e and sales contributio
Appliances 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 a 47.4512% equity interest in Zhongke Meiling and is its largest
shareholder. Except for Zhongke Xianxing (Beijing) Asset Management Co. Ltd. which holds a
20.16% equity interest the voting rights of the remaining shareholders are highly dispersed. The
Company is able to control Zhongke Meiling’s operating decisions through its controlling voting
power.(II) Significant non-wholly-owned subsidiaries
1. Details
Dividends
Profit or Loss
Minority Declared and Balance of Minority
Attributable to
Shareholders Distributed to Interests
Name of Subsidiary Minority
Shareholding Minority at the End of the
Shareholders for
Ratio Shareholders for Period
the Period
the PeriodNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Dividends
Profit or Loss
Minority Declared and Balance of Minority
Attributable to
Shareholders Distributed to Interests
Name of Subsidiary Minority
Shareholding Minority at the End of the
Shareholders for
Ratio Shareholders for Period
the Period
the Period
Zhongke Meiling 52.55% 5163746.50 4574784.06 327446208.13
Hongyuan Ground Energy 7.13% -855890.48 11625554.31
Ridian Technology 0.96% 39338.49 1174947.27
Meiling Life Appliances 30.00% 3209582.40 65394927.46
2. Major Financial Information of Significant Non-Wholly Owned Subsidiaries
(1) Assets and Liabilities
Ending balance
Name of
Subsidiary Non-Current Non-CurrentCurrent Assets Total Assets Current Liabilities Total Liabilities
Assets Liabilities
Zhongke
627076327.21126731894.30753808221.51120137819.466671431.55126809251.01
Meiling
Hongyuan
958773985.52177306616.221136080601.74874324925.5197735295.43972060220.94
Ground Energy
Ridian
150868335.3031953695.26182822030.5660494302.84125541.9160619844.75
Technology
Meiling Life
678382015.1521723612.03700105627.18611788219.120.00611788219.12
Appliances
(Continued)
Beginning balance
Name of
Subsidiary Non-Current Non-CurrentCurrent 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
(2) Profit or Loss and Cash FlowsNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Current period amount
Name of Subsidiary Net Cash FlowsTotal Comprehensive
Operating Revenue Net profit From Operating
Income
Activities
Zhongke Meiling 156298460.88 9826573.58 9826573.58 -6567451.17
Hongyuan Ground
931371261.47-12004074.11-12004074.11-55417696.26
Energy
Ridian Technology 25471764.10 4081179.99 4081179.99 136708.01
Meiling Life
725461739.2610698608.0010698608.0064991929.68
Appliances
(Continued)
Corresponding prior period amount
Name of Subsidiary Net Cash FlowsTotal Comprehensive
Operating revenue Net profit From Operating
Income
Activities
Zhongke Meiling 150225865.88 11045823.50 11045823.50 -8830139.70
Hongyuan Ground
1018110817.007354328.477354328.4786150681.09
Energy
Ridian Technology 29814643.96 -1928871.31 -1928871.31 -10655245.61
Meiling Life
664973555.4415854059.4415854059.4460807851.33
Appliances
(III) Interests in Joint Ventures and Associates
1. Significant Joint Ventures and Associates
Principa Shareholding Ratio Accounting
Place
Name of Joint l (%) Method for
of Nature of
Venture or Place of Investments in
Registr Business
Associate Busines Direct Indirect Joint Ventures and
ation
s Associates
Sichuan Zhiyijia
Network Mianya Miany
Sales 50.00 Equity Method
Technology Co. ng ang
Ltd.
2. Major Financial Information of Significant Associates
Items Sichuan Zhiyijia Network Technology Co. Ltd.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending Balance/Amounts for Beginning Balance/Amounts
the Current Period for the Prior Period
Current Assets 2289347466.45 1976908031.77
Non-Current Assets 19001993.47 17024852.80
Total Assets 2308349459.92 1993932884.57
Current Liabilities 2171835802.65 1853773141.19
Non-Current Liabilities 4497779.28 5502319.74
Total Liabilities 2176333581.93 1859275460.93
Minority Interests
Equity Attributable to Owners of the
132015877.99134657423.64
Parent Company
Share of Net Assets Calculated Based
66007939.0067328711.82
on Shareholding Ratio
Adjustments 821877.28 821877.28
Goodwill 821877.28 821877.28
Carrying Amount of Equity
67042595.0668150589.09
Investments in Associates
Fair Value of Equity Investments in
Associates with Quoted Market Prices
Operating revenue 409069287.89 464294084.46
Net profit 5441867.79 9671201.40
Net Profit (Loss) from Discontinued
Operations
Other Comprehensive Income
Total Comprehensive Income 5441867.79 9671201.40
Dividends Received from Associates
3828927.9312524542.65
during the Period
3. Summary Financial Information of Insignificant Joint Ventures and Associates
Ending
Beginning Balance/Prior
Items Balance/Current Period
Period Amounts
Amounts
Associates
Total Carrying Amount of Investments 20499809.19 19998217.25
Total Amounts of the Following ItemsNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Ending
Beginning Balance/Prior
Items Balance/Current Period
Period Amounts
Amounts
Calculated Based on Shareholding Ratio
Net profit 3819136.87 -465815.53
Other Comprehensive Income 674296.24 754520.37
Total Comprehensive Income 4160545.48 -240458.52
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 69073456.28
Including: Recognized in Deferred Income 69073456.28
Government grants related to income 10228884.52
Including: Recognized in Other Income 10228884.52
Total 79302340.80
(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 Statements balance
Grants During during the Income during
the Period Period the Period
Deferred income 139056707.76 69073456.28 15720303.77
Subtotal 139056707.76 69073456.28 15720303.77
(Continued)Notes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Amount
Amount Used
Used to
Line Items in to Offset Cost
Offset Other Related to
the Financial and Expenses Ending balance
Assets changes Assets/Income
Statements during the
during the
Period
Period
Deferred Related to
192409860.27
income Assets
Subtotal 192409860.27
(III) Amount of Government Grants Recognized in Current Profit or Loss
Current period Corresponding prior
Items
amount period amount
Other Income 26036845.51 37697020.59
Total 26036845.51 37697020.59
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.(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.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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 June 30 2026 was RMB
15993537.09. 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
Company determines the relative proportion of fixed-rate and floating-rate instruments based
on prevailing market conditions. As of June 30 2026 the Company’s interest-bearing debts
mainly consisted of fixed-rate borrowings denominated in RMB with a total amount of RMB
865000000.00. 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 RiskNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
As of June 30 2026 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 five accounts
receivable and contract assets was RMB 3166014452.31 accounting for 63.80% 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 bankNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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 947959609.74 954337976.90 814288976.90 140049000.00
borrowings
Derivative
financial 65264252.08 65264252.08 65264252.08
liabilities
Notes payable 9491511648.19 9491511648.19 9491511648.19
Accounts 8038508445.54 8038508445.54 8038508445.54
payable
Other payables 1185621709.61 1185621709.61 1185621709.61
Lease liabilities
(including
current portion 132668081.14 150533475.30 35126187.45 53169720.99 62237566.86
due within one
year)
Other current 4849952.26 4849952.26 4849952.26
liabilities
Subtotal 19866383698.56 19890627459.88 19635171172.03 193218720.99 62237566.86
(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. The amountNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
Foreign
exchange
hedging refers to
Forward foreign exchange
a risk In accordance
contracts: Hedging
management with hedge
instruments are designated
activity that accounting
to hedge foreign exchange
designates standards and
exposures arising from
financial to ensure
operations: foreign
instruments as hedge
Extent to which exchange exposures include
hedging effectiveness
Foreign changes in fair recognized assets
instruments to the
exchange or value or cash recognized liabilities and
manage prerequisite
interest rate flows of irrevocable orders.exposures for exposure
Forward risk hedging Irrevocable orders refer to
arising from hedging is
foreign prevention instruments are unrecognized firm
foreign that the
exchange strategies expected to commitments.exchange risk currencies are
contracts focusing on offset all or part Unrecognized means not
and interest rate the same the
hedging and of changes in yet recognized in the
risk such that directions are
risk fair value or balance sheet. A firm
changes in the opposite and
prevention cash flows of commitment is a binding
fair value or the expected
hedged items agreement with legal
cash flows of the foreign
enforceability to exchange a
hedging exchange
specified quantity of
instruments are receipt and
resources at a specified
expected to payment
price on a specified future
offset all or part dates are
date or during a specified
of the changes in close.future period.the fair value or
cash flows of the
hedged items.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
2. The Company Conducts Eligible Hedging Activities and Applies Hedge Accounting
Relevant impacts
Cumulative fair value Sources of
Carrying amounts of hedge
hedge adjustments of hedge
relating to hedged accounting on the
Items hedged items included in effectiveness
items and hedging Company’s
the carrying amounts of and hedge
instruments financial
recognized hedged items ineffectiveness
statements
Fair value hedges
Hedging
instruments –
81257789.17
derivative
financial assets Financial
Hedging expenses –
instruments – exchange losses;
derivative 65264252.08 Investment 19892049.20
financial income;
liabilities Income from fair
Hedged items – value changes
5959439047.60
asset items
Hedged items –
1280014992.97
liability items
(III) Transfers of Financial Assets
1. Basic Information on Transfers of Financial Assets
Nature of
Transfer transferred Amount of transferred Derecognition Basis for judgment of
method financial financial assets status derecognition status
assets
Bill
Accounts Substantially all risks and
endorsement
receivable 1523431672.54 Derecognized rewards have been
/ bill
financing transferred
discounting
Accounts Substantially all risks and
Accounts
receivable 1772960863.58 Derecognized rewards have been
receivable
factoring transferred
Subtotal 3296392536.12Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
2. Details of Financial Assets Derecognized Due to Transfers
Method of transfer of Amount of financial assets Gains or losses relating
Items
financial assets derecognized to derecognition
Accounts
Bill endorsement / bill
receivable 1523431672.54 -5061292.55
discounting
financing
Accounts
Factoring 1772960863.58 -7417996.95
receivable
Subtotal 3296392536.12 -12479289.50
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 value Total
measurement measurement measurement
Recurring fair value
measurement
1. Trading financial
2026756891.422026756891.42
assets
(1) Principal and
interest of structured 2026756891.42 2026756891.42
deposits
2. Derivative Financial
81257789.1781257789.17
Assets
(1) Forward Foreign
81257789.1781257789.17
Exchange Contracts
3. Accounts Receivable
681373678.19681373678.19
Financing
4. Other Non-current
73327093.71591348644.81664675738.52
Financial Assets
Total assets measured at
fair value on a recurring 81257789.17 73327093.71 1272722323.00 1427307205.88
basis
5. Derivative Financial
65264252.0865264252.08
LiabilitiesNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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 value Total
measurement measurement measurement
(1) Forward Foreign
65264252.0865264252.08
Exchange Contracts
Total liabilities measured
at fair value on a recurring 65264252.08 65264252.08
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 structured deposits and 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
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 areNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
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
Increase Decrease
Controlling Shareholder Beginning balance during the during the Ending balance
year year
Sichuan Changhong Electric
Co. Ltd. 4616244222.00 4616244222.00Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
(3) Shares or Equity Interests Held by the Controlling Shareholder and Changes Thereof
Shareholding Amount Shareholding Ratio
Proportion
Proportion
Controlling Shareholder at theat the End
Ending balance Beginning balance Beginning
of the
of the
Period
Period
Sichuan Changhong Electric
Co. Ltd. 281832434.00 281832434.00 27.36% 27.36%
2. Subsidiaries
For details of subsidiaries please refer to Note VIII (I) Composition of the Group.
3. Joint Ventures and Associates
For details of the Company’s significant joint ventures and associates please refer to
Note VIII (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
Associate of the Company; same controlling
Sichuan Zhiyijia Network Technology Co. Ltd. shareholder and actual controller as the
Company
4. Other Related Parties
Name of Other Related Party Relationship with the Company
Sichuan Changhong Mold Plastic Tech. Co. Ltd. Controlled by the same controllingNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
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
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
Sichuan Changhong Minsheng Logistics Co. Ltd. Controlled by the same controllingNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
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
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
Controlled by the same controlling
Sichuan Hongcheng Construction Engineering Co. 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
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 controllingNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Technology Co. Ltd. shareholder and ultimate controller
Controlled by the same controlling
Mianyang Hongshengtai Real Estate 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
Controlled by the same controlling
Guangyuan Changhong Electronic Technology Co. 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
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
Associate of the controlling shareholder
Technology Venture Capital Fund Partnership EnterpriseNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
(Limited Partnership)
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 Whethe Amount in
Approved
incurred r the prior
Transaction transaction
Related party during the exceedi period
Content quota (RMB
period ng the (RMB
10000)
(RMB 10000) quota 10000)
Sichuan Changhong
Purchase of
Electronics Holding 162870.12 400000.00 No 184374.05
goods
Group Co. Ltd.Sichuan Changhong Mold Purchase of
50726.61 170000.00 No 76273.76
Plastic Tech. Co. Ltd. goods
Sichuan Changhong Jijia Purchase of
29672.55 100000.00 No 45802.93
Fine Co. Ltd. goods
Changhong Huayi Purchase of
28569.78 70000.00 No 24108.11
Compressor Co. Ltd. goods
Sichuan Changxin
Purchase of
Refrigeration Parts Co. 20464.02 45370.66
goods
Ltd.Sichuan Aichuang Purchase of
19019.61 70000.00 No 12875.16
Technology Co. Ltd. goods
Sichuan Changhong
Purchase of
Package Printing Co. 6774.89 23000.00 No 10858.96
goods
Ltd.Sichuan Changhong Purchase of
4755.63 12000.00 No 5824.16
Electric Co. Ltd. goods
Sichuan Aoku Purchase of
2707.94 5000.00 No 1230.57
Technology Co. Ltd. goodsNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Amounts Whethe Amount in
Approved
incurred r the prior
Transaction transaction
Related party during the exceedi period
Content quota (RMB
period ng the (RMB
10000)
(RMB 10000) quota 10000)
Sichuan Changhong
Purchase of
Precision Electronic 1840.99 4000.00 No 2087.69
goods
Technology Co. Ltd.Sichuan Changhong
Purchase of
Electronic Products Co. 1216.32 5000.00 No 1866.86
goods
Ltd.Sichuan Zhiyijia Network Purchase of
852.53 5000.00 No 255.57
Technology Co. Ltd. goods
Changhong International
Purchase of
Holdings (Hong Kong) 835.56 4000.00 No 704.33
goods
Co. Ltd.Guangdong Changhong Purchase of
788.71 5000.00 No 402.8
Electronics Co. Ltd. goods
Sichuan Ailian Purchase of
617.54 6000.00 No 1036.45
Technology Co. Ltd. goods
Changhong Ruba Electric Purchase of
302.74242.53
Company (Private) Ltd. goods
Sichuan Hongran Green Purchase of
61.83115.66
Energy Co. Ltd. goods
Sichuan Changhong New
Purchase of
Energy Technology Co. 13.43 6000.00 No 45.21
goods
Ltd.Sichuan Changhong
Purchase of
International Hotel Co. 3.99 6000.00 No 2.7
goods
Ltd.Sichuan Changhong
Purchase of
Device Technology Co. 21.42
goods
Ltd.Sichuan Changhong
Purchase of
Intelligent Manufacturing 5.65
goods
Technology Co. Ltd.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Amounts Whethe Amount in
Approved
incurred r the prior
Transaction transaction
Related party during the exceedi period
Content quota (RMB
period ng the (RMB
10000)
(RMB 10000) quota 10000)
Sichuan Changhong
Purchase of
Hongwei Technology Co. 2.32
goods
Ltd.Sichuan Jiahong Purchase of
1.09
Industrial Co. Ltd. goods
Total 332094.79 413508.64
2. Receipt of Services
Whether
Transactio Amounts incurred Approved exceedin Amount in prior
Related party
n Content during the period transaction quota g the period
quota
Sichuan Changhong
Receipt of
Minsheng Logistics 595754000.21 1200000000.00 No 387359976.16
services
Co. Ltd.Sichuan Changhong
Receipt of
Kuaiyidian Electric 196861575.83 520000000.00 No 190231412.49
services
Service Co. Ltd.Sichuan Changhong
Receipt of
Mold Plastic Tech. 24381476.54 162000000.00 No 18006535.83
services
Co. Ltd.Sichuan Changhong Receipt of
9603820.77 150000000.00 No 11404387.76
Electric Co. Ltd. services
Sichuan Changhong
Receipt of
Hongwei Technology 9075696.29 150000000.00 No 12284620.23
services
Co. Ltd.Sichuan Jiahong Receipt of
5101121.36 60000000.00 No 6010190.93
Industrial Co. Ltd. services
Sichuan Changhong Receipt of
4407745.23 150000000.00 No 5077115.50
Jijia Fine Co. Ltd. services
Changhong Receipt of
3710000.00 150000000.00 No
International servicesNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Whether
Transactio Amounts incurred Approved exceedin Amount in prior
Related party
n Content during the period transaction quota g the period
quota
Holdings (Hong
Kong) Co. Ltd.Sichuan Qiruike Receipt of
2733523.45 60000000.00 No 2096001.49
Technology Co. Ltd. services
Sichuan Changhong
Receipt of
Electronics Holding 1310163.24 4000000000.00 No 448961.57
services
Group Co. Ltd.Sichuan Hongxin Receipt of
1177228.29 150000000.00 No 615060.22
Software Co. Ltd. services
Sichuan Aichuang Receipt of
850534.30 60000000.00 No 761080.70
Technology Co. Ltd. services
Sichuan Changxin
Receipt of
Refrigeration Parts 815513.93 11964184.52
services
Co. Ltd.Sichuan Changhong
Receipt of
International Hotel 345574.87 60000000.00 No 1410213.97
services
Co. Ltd.Guangdong
Receipt of
Changhong 126607.04 150000000.00 No 115107.04
services
Electronics Co. Ltd.Sichuan Changhong
Gerun Environmental Receipt of
119618.25 60000000.00 No 102372.55
Protection services
Technology Co. Ltd.Sichuan Zhiyijia
Receipt of
Network Technology 35547.83 150000000.00 No 16122.61
services
Co. Ltd.Sichuan Changhong
Receipt of
Property Service Co. 30090.56 60000000.00 No 44743.80
services
Ltd.Sichuan Changhong Receipt of
15258.96 150000000.00 No
Network Technology servicesNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Whether
Transactio Amounts incurred Approved exceedin Amount in prior
Related party
n Content during the period transaction quota g the period
quota
Co. Ltd.Sichuan Changhong
Intelligent Receipt of
2038679.24
Manufacturing services
Technology Co. Ltd.Total 856455096.95 649986766.61
3. Sale of Goods
Amounts
Amount in prior
incurred during
Related party Transaction Content period
the period
(RMB 10000)
(RMB 10000)
Sichuan Zhiyijia Network Technology Co.Sale of goods 361415.48 345985.45
Ltd.CHANGHONG(HK)TRADINGLIMITED Sale of goods 96652.58 108880.15
Changhong International Holdings (Hong
Sale of goods 47126.59 18121.67
Kong) Co. Ltd.CHANGHONGELECTRIC(AUSTRALIA
Sale of goods 14159.97 13524.24
)PTY.LTD.Changhong Europe Electric s.r.o Sale of goods 9547.19 8071.31
Sichuan Aoku Technology Co. Ltd. Sale of goods 1020.21 1.96
Changhong Ruba Electric Company
Sale of goods 612.42
(Private) Ltd.Sichuan Changhong Kuaiyidian Electric
Sale of goods 284.76 318.55
Service Co. Ltd.Zhongjiu Flash Medical Technology Co.Sale of goods 87.94 72.17
Ltd.Mianyang Huafeng Hulian Technology
Sale of goods 60.62
Co. Ltd.Guangdong Changhong Electronics Co.Sale of goods 57.51
Ltd.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Amounts
Amount in prior
incurred during
Related party Transaction Content period
the period
(RMB 10000)
(RMB 10000)
Sichuan Changhong Precision Electronic
Sale of goods 54.37
Technology Co. Ltd.Sichuan Huafeng Technology Co. Ltd. Sale of goods 43.45
Sichuan Changhong Electric Co. Ltd. Sale of goods 25.28 82.38
Sichuan Aichuang Technology Co. Ltd. Sale of goods 23.08 9.82
Sichuan Changhong Minsheng Logistics
Sale of goods 13.26 59.19
Co. Ltd.Sichuan Changhong Mold Plastic Tech.Sale of goods 3.87 8.81
Co. Ltd.Sichuan Baiku Technology Co. Ltd. Sale of goods 2.89
Changhong Huayi Compressor Co. Ltd. Sale of goods 2.88
Chengdu Guigu Environmental
Sale of goods 2.18
Technology Co. Ltd.Sichuan Hongshang Construction
Sale of goods 1.06
Engineering Co. Ltd.Mianyang Hongshengtai Real Estate Co.Sale of goods 0.97
Ltd.Mianyang Hongshang Real Estate Co.Sale of goods 0.88 0.86
Ltd.Sichuan Changhong Real Estate Co. Ltd. Sale of goods 0.86 0.4
Sichuan Ailian Technology Co. Ltd. Sale of goods -0.49 4.96
Orion.Co.ltd Sale of goods 627.27
Sichuan Changhong Xinwang Technology
Sale of goods 207.96
Co. Ltd.Sichuan Hongcheng Construction
Sale of goods 29
Engineering Co. Ltd.PT.CHANGHONGELECTRICINDONESI
Sale of goods 8.31
A
Sichuan Changhong Device Technology
Sale of goods 2.09
Co. Ltd.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Amounts
Amount in prior
incurred during
Related party Transaction Content period
the period
(RMB 10000)
(RMB 10000)
Sichuan Jiahong Industrial Co. Ltd. Sale of goods 0.74
Total 531199.81 496017.29
4. Provision of Services
Amounts incurred Amount in prior
Related party Transaction Content
during the period period
Guangdong Changhong Electronics
Provision of services 18345923.04
Co. Ltd.Sichuan Changhong Mold Plastic
Provision of services 1962067.44 2224512.15
Tech. Co. Ltd.Sichuan Changhong Electric Co. Ltd. Provision of services 1443347.27 269697.41
Sichuan Changhong Kuaiyidian
Provision of services 855992.02 1088762.30
Electric Service Co. Ltd.Mianyang Huafeng Hulian Technology
Provision of services 719993.02 14221.00
Co. Ltd.Sichuan Huafeng Technology Co. Ltd. Provision of services 992809.59 -
Sichuan Changhong Jijia Fine Co.Provision of services 347338.01 224171.79
Ltd.Sichuan Changhong Property Service
Provision of services 293499.77 90087.38
Co. Ltd.Sichuan Aichuang Technology Co.Provision of services 138787.00 40798.97
Ltd.Changhong International Holdings
Provision of services 121622.26 121622.26
(Hong Kong) Co. Ltd.Sichuan Changhong Xinwang
Provision of services 91513.76 2196330.28
Technology Co. Ltd.Sichuan Changhong Minsheng
Provision of services 76238.24 85597.94
Logistics Co. Ltd.Sichuan Changhong International
Provision of services 22377.43 15102.21
Hotel Co. Ltd.Sichuan Zhiyijia Network Technology Provision of services 21345.95 161111.99Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in
RMB.)
Amounts incurred Amount in prior
Related party Transaction Content
during the period period
Co. Ltd.Sichuan Aoku Technology Co. Ltd. Provision of services 19895.92 17035.53
Sichuan Changhong Jiechuang
Provision of services 11826.00 42952.83
Lithium Battery Technology Co. Ltd.Sichuan Changhong Electronic
Provision of services 2145.28 1522.64
Products Co. Ltd.Changhong Huayi Compressor Co.Provision of services 1637.92 272215.15
Ltd.Sichuan Changhong Hongwei
Provision of services 1608.00 1410.00
Technology Co. Ltd.Sichuan Ailian Technology Co. Ltd. Provision of services 1586.50 793.25
Zhongjiu Flash Medical Technology
Provision of services 719919.27
Co. Ltd.Sichuan Changhong New Energy
Provision of services 64220.18
Technology Co. Ltd.Sichuan Changhong Precision
Provision of services 12822.17
Electronic Technology Co. Ltd.Sichuan Changhong Education
Provision of services 7800.00
Technology Co. Ltd.Total 25471554.42 7672706.70
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
Apartments
Changhon Sichuan Changhong Mold Plastic Tech.factory 1151716.07 1045460.41
g Meiling Co. Ltd.buildings
Apartments
Changhon
Sichuan Changhong Jijia Fine Co. Ltd. factory 437101.05 410968.76
g Meiling
buildingsNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Changhon Sichuan Changhong Minsheng
Apartments 112530.80 103344.70
g Meiling Logistics Co. Ltd.Changhon Sichuan Changhong Kuaiyidian Apartments
90925.72128842.73
g Meiling Electric Service Co. Ltd. offices
Changhon Sichuan Zhiyijia Network Technology
Apartments 84220.18 84220.18
g Meiling Co. Ltd.Changhon Sichuan Changhong Hongwei
Apartments 12857.14
g Meiling Technology Co. Ltd.Hefei Sichuan Changhong Mold Plastic Tech. Factory
4505481.604868857.38
Industrial Co. Ltd. buildings
Hefei Factory
Sichuan Changhong Jijia Fine Co. Ltd. 1431054.00 1277089.20
Industrial buildings
Hefei Sichuan Changhong Kuaiyidian Factory
205999.20119275.20
Industrial Electric Service Co. Ltd. buildings
Hefei Sichuan Changhong Education Factory
3240.003240.00
Industrial Technology Co. Ltd. buildings
Changhon
Factory
g Air Sichuan Changhong Mold Plastic Tech.buildings 2830925.21 2910566.23
Condition Co. Ltd.equipment
er
Changhon
Factory
g Air
Sichuan Changhong Jijia Fine Co. Ltd. buildings 1830483.01 1871238.14
Condition
equipment
er
Changhon
Factory
g Air
Sichuan Changhong Electric Co. Ltd. buildings 414260.87 460768.76
Condition
equipment
er
Ridian
Sichuan Changhong Minsheng Factory
Technolog 643723.20 204508.80
Logistics Co. Ltd. buildings
y
Ridian Sichuan Changhong Precision Factory
241779.601035191.67
Technolog Electronic Technology Co. Ltd. buildingsNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
y
Ridian
Sichuan Changhong Device Factory
Technolog 20088.87
Technology Co. Ltd. buildings
y
Zhongsha
n Sichuan Changhong Minsheng Office
25279.8217256.88
Changhon Logistics Co. Ltd. buildings
g
Zhongsha
n Sichuan Zhiyijia Network Technology Office
6660.55
Changhon Co. Ltd. buildings
g
Factory
Jiangxi Sichuan Changhong Mold Plastic Tech.buildings 756553.74 756553.76
Meiling Co. Ltd.offices
Jiangxi Sichuan Changhong Electronic
Warehouses 117827.06
Meiling Products Co. Ltd.Jiangxi Sichuan Changhong Minsheng Warehouse
9142.869142.86
Meiling Logistics Co. Ltd. offices
Total 14911761.68 15326614.53
(2) Leases by the Company as LesseeNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Variable lease
Rental expenses for
payments not
short-term leases and leases
included in the Interest expenses on lease
of low-value assets under Rent paid Increase in right-of-use assets
measurement of liabilities borne
Type of simplified treatment (if
Name of lease liabilities (if
Name of Lessor Leased applicable)
Lessee applicable)
Assets
Amounts Amoun
Amount Amount
incurred Amount in t for the Amount for Amount for Amount Amount for Amount for
for the for the prior
during the prior period prior the year the prior year for the year the year the prior year
year year
period year
Changhong Huayi
Jiangxi Staff
Compressor Co. 57099.70 59331.95
Meiling dormitories
Ltd.Guangdong
Changhong Ridian
Buildings -394.06
Electronics Co. Technology
Ltd.Chengdu
Changhong Zhongshan
Buildings 4826169.53 4126854.30 284246.08 284103.48 406363.14
Minsheng Changhong
Logistics Co. Ltd.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Variable lease
Rental expenses for
payments not
short-term leases and leases
included in the Interest expenses on lease
of low-value assets under Rent paid Increase in right-of-use assets
measurement of liabilities borne
Type of simplified treatment (if
Name of lease liabilities (if
Name of Lessor Leased applicable)
Lessee applicable)
Assets
Amounts Amoun
Amount Amount
incurred Amount in t for the Amount for Amount for Amount Amount for Amount for
for the for the prior
during the prior period prior the year the prior year for the year the year the prior year
year year
period year
Sichuan Zhiyijia
Network Changhong
Offices 21600.00 21600.00
Technology Co. Air
Ltd. Conditioner
Sichuan Jiahong Changhong
61854.68117790.07
Industrial Co. Ltd. Air Dormitories
Conditioner
Sichuan
Changhong Workshop
Changhong 400557.90
Air F3
Electric Co. Ltd.ConditionerNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Variable lease
Rental expenses for
payments not
short-term leases and leases
included in the Interest expenses on lease
of low-value assets under Rent paid Increase in right-of-use assets
measurement of liabilities borne
Type of simplified treatment (if
Name of lease liabilities (if
Name of Lessor Leased applicable)
Lessee applicable)
Assets
Amounts Amoun
Amount Amount
incurred Amount in t for the Amount for Amount for Amount Amount for Amount for
for the for the prior
during the prior period prior the year the prior year for the year the year the prior year
year year
period year
Sichuan
Changhong
Changhong Shops
Electronics 1920.00 1920.00 92990.72 94055.52 4572.26 3507.46 557944.37
Air dormitories
Holding Group
Conditioner
Co. Ltd.Sichuan
Changhong VISA
Changhong 153431.50 153431.50 17157.52 17157.52
Air Laboratory
Electric Co. Ltd.Conditioner
Sichuan Huafeng
Staff
Technology Co. Changhong 183000.00
dormitories
Ltd. AirNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Variable lease
Rental expenses for
payments not
short-term leases and leases
included in the Interest expenses on lease
of low-value assets under Rent paid Increase in right-of-use assets
measurement of liabilities borne
Type of simplified treatment (if
Name of lease liabilities (if
Name of Lessor Leased applicable)
Lessee applicable)
Assets
Amounts Amoun
Amount Amount
incurred Amount in t for the Amount for Amount for Amount Amount for Amount for
for the for the prior
during the prior period prior the year the prior year for the year the year the prior year
year year
period year
Conditioner
Guangdong
Ground
Changhong Staff
Energy Heat 19458.03
Electronics Co. dormitories
Pump
Ltd.Chengdu
Ground Factory
Changhong
Energy Heat building 1485600.00
Minsheng
Pump leases
Logistics Co. Ltd.Sichuan Jiahong Intelligent Staff
101642.0046257.80
Industrial Co. Ltd. Air dormitoriesNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Variable lease
Rental expenses for
payments not
short-term leases and leases
included in the Interest expenses on lease
of low-value assets under Rent paid Increase in right-of-use assets
measurement of liabilities borne
Type of simplified treatment (if
Name of lease liabilities (if
Name of Lessor Leased applicable)
Lessee applicable)
Assets
Amounts Amoun
Amount Amount
incurred Amount in t for the Amount for Amount for Amount Amount for Amount for
for the for the prior
during the prior period prior the year the prior year for the year the year the prior year
year year
period year
Conditioner
Sichuan Factory
Mianyang
Changhong building 18891.74 47691.74 1232729.77 1128271.95 425322.17 451314.25 2623724.02 586216.98
Meiling
Electric Co. Ltd. leases
Sichuan Jiahong Mianyang Staff
16031.9315485.57
Industrial Co. Ltd. Meiling dormitories
Chengdu
Changhong
Hongmei
Electronic Offices 65476.88 42053.79 15640.70 1050743.08
Intelligent
Technology Co.Ltd.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Variable lease
Rental expenses for
payments not
short-term leases and leases
included in the Interest expenses on lease
of low-value assets under Rent paid Increase in right-of-use assets
measurement of liabilities borne
Type of simplified treatment (if
Name of lease liabilities (if
Name of Lessor Leased applicable)
Lessee applicable)
Assets
Amounts Amoun
Amount Amount
incurred Amount in t for the Amount for Amount for Amount Amount for Amount for
for the for the prior
during the prior period prior the year the prior year for the year the year the prior year
year year
period year
Sichuan
Hongmei
Changhong Offices 86026.53 81117.58 20658.80 7300.58
Intelligent
Electric Co. Ltd.
081 Electronic Zhongke
Buildings 95779.82 731.60 374989.08
Group Co. Ltd. Meiling
Total 1764640.05 912699.00 6552604.75 5625784.64 768329.13 763383.29 3556657.47 2043323.20Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
6. Related Party Guarantees
Whether
Maximum
Guaranteed Commenceme Maturity guarantee
Guarantor Guaranteed Amount
Party nt Date date has been
(RMB 10000)
fulfilled
Guarantees:
Changhong Meiling
40000.00 2025/6/3 2026/6/2 Yes
Meiling Group
Changhong Meiling 2027/5/1
40000.00 2026/5/18 No
Meiling Group 7
Changhong Meiling
10000.00 2025/8/6 2026/8/5 No
Meiling Group
Changhong Meiling 2026/8/1
20000.00 2025/8/11 No
Meiling Group 0
Changhong Hefei 2026/3/2
3000.00 2025/4/23 Yes
Meiling Industrial 4
Changhong Hefei 2026/5/2
3405.45 2025/5/26 Yes
Meiling Industrial 6
Changhong Hefei 2027/3/1
3000.00 2026/3/18 No
Meiling Industrial 6
Changhong Hefei 2027/5/2
3405.45 2026/5/26 No
Meiling Industrial 6
Changhong Hefei 2026/4/2
5000.00 2025/4/27 No
Meiling Industrial 7
Changhong Hefei 2026/12/
4903.85 2025/12/23 No
Meiling Industrial 22
Changhong Hefei 2026/10/
3000.00 2025/12/22 No
Meiling Industrial 24
Zhongke Tuoxing 2026/2/1
1000.00 2025/2/14 Yes
Meiling Technology 4
Zhongke Ling’an 2026/2/1
1000.00 2025/2/11 Yes
Meiling Medical 1
Counter-guara
ntees:Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Whether
Maximum
Guaranteed Commenceme Maturity guarantee
Guarantor Guaranteed Amount
Party nt Date date has been
(RMB 10000)
fulfilled
Meiling Changhong
40000.00 2025/6/3 2026/6/2 Yes
Group Meiling
Meiling Changhong 2027/5/1
40000.00 2026/5/18 No
Group Meiling 7
Meiling Changhong
10000.00 2025/8/6 2026/8/5 No
Group Meiling
Meiling Changhong 2026/8/1
20000.00 2025/8/11 No
Group Meiling 0
Hefei Changhong 2026/3/2
3000.00 2025/4/23 Yes
Industrial Meiling 4
Hefei Changhong 2026/5/2
3405.45 2025/5/26 Yes
Industrial Meiling 6
Hefei Changhong 2027/3/1
3000.00 2026/3/18 No
Industrial Meiling 6
Hefei Changhong 2027/5/2
3405.45 2026/5/26 No
Industrial Meiling 6
Hefei Changhong 2026/4/2
5000.00 2025/4/27 No
Industrial Meiling 7
Hefei Changhong 2026/12/
4903.85 2025/12/23 No
Industrial Meiling 22
Hefei Changhong 2026/10/
3000.00 2025/12/22 No
Industrial Meiling 24
Tuoxing Zhongke 2026/2/1
1000.00 2025/2/14 Yes
Technology Meiling 4
Ling’an Zhongke 2026/2/1
1000.00 2025/2/11 Yes
Medical Meiling 1
7. Transfer of Assets and Debt Restructuring with Related PartiesNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Amounts
Amount in
Transactio incurred
Related party prior
n Type during the
period
period
Acquisitio
n and
3212832.
Sichuan Hongxin Software Co. Ltd. constructi 234933.63
68
on of fixed
assets
Acquisitio
n and
Sichuan Changhong Intelligent Manufacturing Technology 2263655. 1321061.constructi
Co. Ltd. 36 95
on of fixed
assets
Acquisitio
n and
Sichuan Changhong Hongwei Technology Co. Ltd. constructi 157495.58 265486.73
on of fixed
assets
Acquisitio
n and
Sichuan Changhong Xinwang Technology Co. Ltd. constructi 17072.02
on of fixed
assets
Purchase
Sichuan Zhiyijia Network Technology Co. Ltd. of fixed 128416.88 35020.36
assets
Purchase
Sichuan Qiruike Technology Co. Ltd. of fixed 83628.32
assets
Purchase
Guangdong Changhong Electronics Co. Ltd. of fixed 3982.30
assets
Purchase 1448113. 1320754.Sichuan Hongxin Software Co. Ltd.of 20 71Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Amounts
Amount in
Transactio incurred
Related party prior
n Type during the
period
period
intangible
assets
Sale of
Sichuan Aichuang Technology Co. Ltd. fixed 663000.00
assets
7294142.3861311.
Total
0270
8. Other Related Party Transactions
Amount for the prior
Transaction Amount for the
Name of Company period (RMB
Content period (RMB 10000)
10000)
Yuanxin Financial Bill financing
132175.32207172.10
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. 1912329942.85 1800222081.51 7827993.96
Zhongshan Changhong Electric Co. Ltd. 1224112502.75 963832693.04 6661582.56
Sichuan Changhong Air Conditioner Co.
891646233.71921302205.304315219.80
Ltd.Hongyuan Ground Energy Heat Pump
221087378.68325832400.651642757.68
Technology (Zhongshan) Co. Ltd.Hefei Changhong Meiling Life
119428470.10147032697.76657075.05
Appliances Co. Ltd.Changhong Meiling Ridian Technology
52892551.8149558322.77453172.41
Co. Ltd.Zhongke Meiling Cryogenic Technology 50097849.65 72624535.25 172830.23Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Co. Ltd.Anhui Ling’an Medical Equipment Co.
10064830.3410042685.6883855.79
Ltd.Anhui Tuoxing Technology Co. Ltd. 7354520.40 7330489.41 45093.80
Hefei Changhong Industrial Co. Ltd. 4506991.19 5726864.56 15206.16
Mianyang Changhong Smart Home
1823510.06
Appliances Co. Ltd.Hefei Meiling Group Holdings Limited 1819065.42 3128350.90 19099.37
Mianyang Meiling Refrigeration Co.
179051.67197770.48239.64
Ltd.Hongyuan Ground Energy Heat Pump
114941.89119495.41171.08
Technology Co. Ltd.Jiangxi Meiling Electric Appliance Co.
6472.856888.958.57
Ltd.Sichuan Changhong Intelligent Air
5119.28
Conditioner Technology Co. Ltd.Total 4497464313.37 4306957481.67 21899425.38
(2) Bill Discounting
Amount of bill Amount of
Name of Company Face value
discounting discounting expenses
Changhong Meiling Co. Ltd. 579739939.35 577815960.41 1923978.94
Sichuan Changhong Air Conditioner
207526879.31206358008.601168870.71
Co. Ltd.Sichuan Changhong Intelligent Air
63815489.9063294411.47521078.43
Conditioner Technology Co. Ltd.Hongyuan Ground Energy Heat Pump
40270997.2540064651.94206345.31
Technology (Zhongshan) Co. Ltd.Hefei Changhong Meiling Life
40041719.3639865010.08176709.28
Appliances Co. Ltd.Zhongshan Changhong Electric Co. 16981328.68 16971798.10 9530.58Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Amount of bill Amount of
Name of Company Face value
discounting discounting expenses
Ltd.Total 948376353.85 944369840.60 4006513.25
(3) Issuance of Bills
Name of Company Drawer Bill amount Type of bill
Sichuan Changhong Air Sichuan Changhong Group Finance company
209054927.53
Conditioner Co. Ltd. Finance Co. Ltd. acceptances
Zhongshan Changhong Electric Sichuan Changhong Group Finance company
200193293.29
Co. Ltd. Finance Co. Ltd. acceptances
Sichuan Changhong Group Finance company
Changhong Meiling Co. Ltd. 121742188.80
Finance Co. Ltd. acceptances
Sichuan Changhong Intelligent Air Sichuan Changhong Group Finance company
85000499.92
Conditioner Technology Co. Ltd. Finance Co. Ltd. acceptances
Hefei Changhong Meiling Life Sichuan Changhong Group Finance company
59331100.15
Appliances Co. Ltd. Finance Co. Ltd. acceptances
Hongyuan Ground Energy Heat
Sichuan Changhong Group Finance company
Pump Technology (Zhongshan) 51390288.88
Finance Co. Ltd. acceptances
Co. Ltd.Hefei Meiling Group Holdings Sichuan Changhong Group Finance company
34142681.94
Limited Finance Co. Ltd. acceptances
Zhongke Meiling Cryogenic Sichuan Changhong Group Finance company
20687673.01
Technology Co. Ltd. Finance Co. Ltd. acceptances
Changhong Meiling Ridian Sichuan Changhong Group Finance company
1963077.85
Technology Co. Ltd. Finance Co. Ltd. acceptances
Mianyang Changhong Smart Home Sichuan Changhong Group Finance company
731600.00
Appliances Co. Ltd. Finance Co. Ltd. acceptances
Anhui Ling’an Medical Equipment Sichuan Changhong Group Finance company
465395.70
Co. Ltd. Finance Co. Ltd. acceptances
Total 784702727.07
(4) Credit Granting or Other Financial BusinessesNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Amounts incurred
Name of Company Transaction Content
during the period
Mianyang Changhong Smart Home Appliances Co. Ltd. Letters of guarantee 17398384.00
Sichuan Changhong Air Conditioner Co. Ltd. Letters of guarantee 500000.00
Total 17898384.00
10. Remuneration of Key Management Personnel
Amount for the same
Amount for the
Items period of last year
period (RMB 10000)
(RMB 10000)
Remuneration of key management personnel 116.27 125.66
(III) Balances with Related Parties
1. Receivables
Ending balance Beginning balance
Item Related party Provision for Provision for bad
Carrying balance Carrying balance
bad debts debts
Accounts Sichuan Zhiyijia Network
511850419.2571854894.22136261270.1172782912.81
receivable Technology Co. Ltd.Changhong International
Accounts
Holdings (Hong Kong) 273771911.00 11774680.02 220241915.24 5449423.76
receivable
Co. Ltd.Accounts CHANGHONG(HK)TR
219159746.0614954470.41354408001.0610430299.25
receivable ADINGLIMITED
CHANGHONGELECTR
Accounts
IC(AUSTRALIA)PTY.L 75382581.58 131596495.73
receivable
TD.Accounts Changhong Europe
72786735.1944195393.31
receivable Electric s.r.o
Accounts Changhong Ruba Electric
42741828.5539716883.5540618727.5940618727.59
receivable Company (Private) Ltd.Accounts Sichuan Aoku 9748925.96 2088.24Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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 bad
Carrying balance Carrying balance
bad debts debts
receivable Technology Co. Ltd.Accounts Guangdong Changhong
6319098.354881144.10
receivable Electronics Co. Ltd.Mianyang Huafeng
Accounts
Hulian Technology Co. 3162070.20 2071072.00
receivable
Ltd.Accounts Sichuan Changhong
1058519.972572409.56
receivable Electric Co. Ltd.Accounts Zhongjiu Flash Medical
606935.81
receivable Technology Co. Ltd.Sichuan Changhong
Accounts
Kuaiyidian Electric 283755.30 138518.63
receivable
Service Co. Ltd.Accounts Sichuan Aichuang
234713.02282348.12
receivable Technology Co. Ltd.Accounts Changhong Huayi
186147.60
receivable Compressor Co. Ltd.Accounts Yuanxin Financial
174719.07174719.07
receivable Leasing Co. Ltd.Sichuan Changhong
Accounts
Minsheng Logistics Co. 24321.14 24216.48
receivable
Ltd.Accounts Sichuan Ailian
21040.0526533.40
receivable Technology Co. Ltd.Sichuan Changhong
Accounts
Mold Plastic Tech. Co. 10140.00
receivable
Ltd.Sichuan Changhong
Accounts
Xinwang Technology 0.01 0.01
receivable
Co. Ltd.Accounts
Orion.Co.ltd
receivableNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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 bad
Carrying balance Carrying balance
bad debts debts
Sichuan Hongcheng
Accounts
Construction Engineering
receivable
Co. Ltd.Accounts Sichuan Changhong Jijia
receivable Fine Co. Ltd.Accounts Sichuan Huafeng
1937933.12
receivable Technology Co. Ltd.Sichuan Changhong New
Accounts
Energy Technology Co. 916500.00
receivable
Ltd.Sichuan Changhong
Accounts Jiechuang Lithium
153000.00
receivable Battery Technology Co.Ltd.Accounts PT.CHANGHONGELEC
7410.0574.10
receivable TRICINDONESIA
Sichuan Changhong
Prepayment
Minsheng Logistics Co. 1082914.05
s
Ltd.Prepayment Sichuan Changhong Jijia
459112.13
s Fine Co. Ltd.Sichuan Changhong
Prepayment
Kuaiyidian Electric 72424.9
s
Service Co. Ltd.Prepayment Sichuan Changhong
5168.2537.27
s Electric Co. Ltd.Prepayment Sichuan Ailian
50889.49
s Technology Co. Ltd.Other Sichuan Zhiyijia Network
63819.3885510.00
receivables Technology Co. Ltd.Other Sichuan Changhong
122251.56112651.56
receivables Minsheng Logistics Co.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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 bad
Carrying balance Carrying balance
bad debts debts
Ltd.Other 081 Electronic Group
17400.00
receivables Co. Ltd.Sichuan Changhong
Other
Property Service Co. 11880 11880.00
receivables
Ltd.Other Sichuan Jiahong
10000.0010000.00
receivables Industrial Co. Ltd.Sichuan Changhong
Other
Kuaiyidian Electric 200000.00
receivables
Service Co. Ltd.Contract Sichuan Changhong
36000.0036000.00
assets Electric Co. Ltd.Contract Sichuan Aichuang
74919.00
assets Technology Co. Ltd.Total 1219404578.33 138300928.20 941092083.14 129281437.51
2. Payables
Item Related party Ending balance Beginning balance
Accounts Sichuan Changhong Electronics Holding
439636178.77214031689.32
payable Group Co. Ltd.Accounts Sichuan Changhong Mold Plastic Tech. Co.
340805888.6399931302.92
payable Ltd.Accounts
Sichuan Changhong Jijia Fine Co. Ltd. 175360444.28 47430986.76
payable
Accounts
Changhong Huayi Compressor Co. Ltd. 113758266.19 102692801.26
payable
Accounts Sichuan Changxin Refrigeration Parts Co.
61946257.8331676661.00
payable Ltd.Accounts
Sichuan Aichuang Technology Co. Ltd. 50681286.02 49074402.30
payableNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Item Related party Ending balance Beginning balance
Accounts
PT.CHANGHONG ELECTRIC INDONESIA 48850825.35
payable
Accounts Sichuan Changhong Package Printing Co.
45866430.4822726924.18
payable Ltd.Accounts Changhong International Holdings (Hong
32936139.6361243227.39
payable Kong) Co. Ltd.Accounts Zhongshan Guanghong Mold Plastic Tech.
31047784.9518708190.56
payable Co. Ltd.Accounts
Sichuan Aoku Technology Co. Ltd. 19278247.45 6338630.53
payable
Accounts Changhong Ruba Electric Company (Private)
17199611.5518432205.87
payable Ltd.Accounts Sichuan Changhong Precision Electronic
13445346.962193904.28
payable Technology Co. Ltd.Accounts
Sichuan Changhong Electric Co. Ltd. 11955378.40 8273422.65
payable
Accounts Sichuan Changhong Minsheng Logistics Co.
6427484.606344838.14
payable Ltd.Accounts Sichuan Changhong Electronic Products Co.
6130336.612405564.52
payable Ltd.Accounts
Guangdong Changhong Electronics Co. Ltd. 5286241.24 1921335.87
payable
Accounts
Sichuan Ailian Technology Co. Ltd. 3813021.27 1181397.25
payable
Accounts
Sichuan Hongxin Software Co. Ltd. 510500.00 617000.00
payable
Accounts Sichuan Changhong Intelligent
463556.581151891.27
payable Manufacturing Technology Co. Ltd.Accounts Sichuan Changhong New Energy Technology
138234.28117371.27
payable Co. Ltd.Accounts Sichuan Changhong Hongwei Technology
96292.58
payable Co. Ltd.Accounts Sichuan Changhong Jiahua Information
81500.00360619.47
payable Products Co. Ltd.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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 Kuaiyidian Electric
66490.04176040.61
payable Service Co. Ltd.Accounts Sichuan Changhong International Hotel Co.
45550.0075051.00
payable Ltd.Accounts
Sichuan Qiruike Technology Co. Ltd. 41450.00 32000.00
payable
Accounts
Sichuan Jiahong Industrial Co. Ltd. 10000.00
payable
Accounts Sichuan Changhong Device Technology Co.
835268.94
payable Ltd.Accounts Sichuan Zhiyijia Network Technology Co.
840491.22
payable Ltd.Contract Sichuan Zhiyijia Network Technology Co.
1358530.77209427560.66
liabilities Ltd.Contract Changhong International Holdings (Hong
1828590.513082.51
liabilities Kong) Co. Ltd.Contract
Changhong Electric (Australia) Co. Ltd. 1015290.42 1226799.07
liabilities
Contract
Changhong Huayi Compressor Co. Ltd. 467256.64
liabilities
Contract
Sichuan Changhong Electric Co. Ltd. 353941.29 353941.29
liabilities
Contract
Changhong Europe Electric s.r.o 299892.09 317977.26
liabilities
Contract
Sichuan Aoku Technology Co. Ltd. 38091.15
liabilities
Contract
Sichuan Aichuang Technology Co. Ltd. 38084.96
liabilities
Contract Sichuan Changhong Xinwang Technology
32654.87
liabilities Co. Ltd.Contract Sichuan Changhong Minsheng Logistics Co.
23053.5713805.31
liabilities Ltd.Contract Sichuan Changhong Kuaiyidian Electric
20527.43
liabilities Service Co. Ltd.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Item Related party Ending balance Beginning balance
Contract
Sichuan Huafeng Technology Co. Ltd. 19384.42
liabilities
Contract
Sichuan Baiku Technology Co. Ltd. 16447.48 16569.91
liabilities
Contract Sichuan Changhong Jiechuang Lithium
12743.36
liabilities Battery Technology Co. Ltd.Contract Sichuan Changhong Mold Plastic Tech. Co.
1146.35
liabilities Ltd.Contract
Sichuan Changhong Jijia Fine Co. Ltd. 294.11
liabilities
Contract
Zhongjiu Flash Medical Technology Co. Ltd. 263833.10
liabilities
Lease
Sichuan Changhong Electric Co. Ltd. 23415546.59 23246481.35
liabilities
Lease Sichuan Changhong Minsheng Logistics Co.
3685824.3017872489.73
liabilities Ltd.Lease Sichuan Changhong Electronics Holding
464953.65
liabilities Group Co. Ltd.Lease Chengdu Changhong Electronic Technology
363861.33836941.77
liabilities Co. Ltd.Other Sichuan Changhong Minsheng Logistics Co.
264649721.79233039656.09
payables Ltd.Other Sichuan Changhong Kuaiyidian Electric
164808077.8799922397.20
payables Service Co. Ltd.Other
Sichuan Changhong Electric Co. Ltd. 6608887.25 5782141.71
payables
Other Sichuan Changhong Electronics Holding
5562111.751565504.80
payables Group Co. Ltd.Other Changhong International Holdings (Hong
3540000.003540000.00
payables Kong) Co. Ltd.Other Sichuan Changhong Mold Plastic Tech. Co.
1755405.042442637.26
payables Ltd.Other
Changhong Huayi Compressor Co. Ltd. 1648900.00 1648900.00
payablesNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Item Related party Ending balance Beginning balance
Other
Sichuan Aichuang Technology Co. Ltd. 924209.37 213867.93
payables
Other
Sichuan Changhong Jijia Fine Co. Ltd. 586500.00 446768.90
payables
Other
Sichuan Hongxin Software Co. Ltd. 324964.16 189245.28
payables
Other Sichuan Changhong Package Printing Co.
200000.0050000.00
payables Ltd.Other
Sichuan Hongran Green Energy Co. Ltd. 158775.41 140776.79
payables
Other Sichuan Zhiyijia Network Technology Co.
132728.9015958190.02
payables Ltd.Other Sichuan Changhong Electronic Products Co.
100000.0050000.00
payables Ltd.Other
Guangdong Changhong Electronics Co. Ltd. 89143.97 13654.77
payables
Other Sichuan Changhong Precision Electronic
50642.2750000.00
payables Technology Co. Ltd.Other
Sichuan Aoku Technology Co. Ltd. 50000.00 171592.80
payables
Other
Sichuan Ailian Technology Co. Ltd. 50000.00 50000.00
payables
Other Sichuan Changxin Refrigeration Parts Co.
46702.0346702.03
payables Ltd.Other Sichuan Changhong Gerun Environmental
44440.0025000.00
payables Protection Technology Co. Ltd.Other
081 Electronic Group Co. Ltd. 43131.33 43131.33
payables
Other
Sichuan Jiahong Industrial Co. Ltd. 26729.08 135367.91
payables
Other Sichuan Changhong Jiahua Information
20000.0020000.00
payables Products Co. Ltd.Other Sichuan Changhong Hongwei Technology
5801306.31
payables Co. Ltd.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Item Related party Ending balance Beginning balance
Other
Sichuan Qiruike Technology Co. Ltd. 1599312.28
payables
Other Sichuan Changhong Device Technology Co.
50000.00
payables Ltd.Total 1910745929.20 1325398853.95
XIII. Commitments and Contingencies
(I) Significant Commitments
As of June 30 2026 there were no significant commitments requiring disclosure that
had not been disclosed by the Company.(II) Contingencies
As of June 30 2026 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
1. Significant non-adjusting events: None.
2. Profit distribution: None.
3. Significant sales returns: None.
4. In addition to the matters disclosed above regarding events after the balance sheet date the
Company has no other significant events after the balance sheet date.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
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
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 Less:
Freezer and Air
Household Inter-segmen
Items Washing Conditioner Others Total
Appliance t
Machine Segment
Segment offset
Segment
Operating
617293.31925206.3685851.5225609.54-40342.151613618.58
revenue
Including:
Revenue
from 607458.51 920839.26 75771.94 9548.87 1613618.58
external
transactions
Revenue
from
inter-segmen 9834.80 4367.09 10079.59 16060.67 -40342.15
t
transactions
Operating
617600.69928759.1584519.1124674.52-38886.931616666.54
expenses
Other
income and 7763.42 3174.04 334.04 192.57 11464.07
expenseNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Refrigerator
Small Less:
Freezer and Air
Household Inter-segmen
Items Washing Conditioner Others Total
Appliance t
Machine Segment
Segment offset
Segment
items
Total profit 7456.04 -378.75 1666.45 1127.59 -1455.22 8416.11
Total assets 1525696.20 1265183.65 87461.77 24774.55 -187568.13 2715548.04
Total
1015934.961045835.4066540.2510464.58-42656.122096119.07
liabilities
Supplementa
ry
information
Depreciation
and
12358.649374.7781.93140.634.8221960.79
amortization
expenses
Capital
19454.6918365.471.99133.6537955.80
expenditures
Note: Total assets exclude deferred tax assets and total liabilities exclude deferred tax
liabilities
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) 2501887906.57 1529350496.57
Including:Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Aging Ending balance Beginning balance
Within 3 months 1737237432.58 1313492365.88
3 - 6 months 736391446.48 204103561.32
6 months - 1 year 28259027.51 11754569.37
1-2 years 3288118.37 36679702.11
2-3 years 578335.72 186265.99
Over 3 years 50783359.21 50597093.22
Total 2556537719.87 1616813557.89
(2) Provision for Bad Debts
1) Details by Category
Ending balance
Carrying balance Provision for bad debts
Category Provision
Proportion Carrying value
Amount Amount Proportion
(%)
(%)
Provision made
2280768896.0189.2159207771.432.602221561124.58
individually
Including:
Receivables with 4456935.97 0.17 4456935.97
letters of credit
Related party
2263388131.6288.5346283943.012.042217104188.61
balances
Receivables
with individually
made provision 12923828.42 0.51 12923828.42 100.00
despite immaterial
individual amounts
Provision made on a
275768823.8610.795015525.401.82270753298.46
portfolio basis
Including:
275768823.8610.795015525.401.82270753298.46
Receivables fromNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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 Provision
Proportion Carrying value
Amount Amount Proportion
(%)
(%)
non-engineering
customers
Total 2556537719.87 100.00 64223296.83 4.41 2492314423.04
(Continued)
Beginning balance
Carrying balance Provision for bad debts
Category Provision
Proportion Carrying value
Amount Amount Proportion
(%)
(%)
Provision made
1328484858.7882.1757350338.384.321271134520.40
individually
Including: Receivables
23449204.391.4523449204.39
with letters of credit
Related party
1288234147.1279.6840548831.113.151247685316.01
balances
Receivables with
individually made
provision despite 16801507.27 1.04 16801507.27 100.00
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
2) Accounts receivable with provision for bad debts made on a portfolio basisNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Ending balance
Aging Provision for bad
Carrying balance Provision ratio (%)
debts
Within 3 months (inclusive; the same
259540739.462595407.391.00
below)
3 - 6 months 8605048.55 860504.86 10.00
6 months - 1 year 7569760.00 1513952.00 20.00
1-2 years 1080.00 540.00 50.00
2-3 years 35373.49 28298.79 80.00
Over 3 years 16822.36 16822.36 100.00
Subtotal 275768823.86 5015525.40 1.82
(Continued)
Beginning balance
Aging Provision for bad
Carrying balance Provision ratio (%)
debts
Within 3 months (inclusive; the same
273005932.142730059.321.00
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
(3) Changes in Provision for Bad Debts
1) Details
Changes during the period
Beginning
Items Recovery Ending balancebalance Provision Write-off Others
or reversal
Provision 57350338.38 5876543.02 33295.05 4019109.97 33295.05 59207771.43Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Changes during the period
Beginning
Items Recovery Ending balancebalance Provision Write-off Others
or reversal
made
individually
Provision
made on a
5421882.72-406357.325015525.40
portfolio
basis
Total 62772221.10 5470185.70 33295.05 4019109.97 33295.05 64223296.83
(4) Accounts receivable actually written off during the period
Items Amount written off
Accounts receivable actually written
4019109.97
off
(5) 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 2302784105.01 accounting for 90.05% 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 47183113.27.
2. Other Receivables
Items Ending balance Beginning balance
Other receivables 76844638.52 51935773.67
Total 76844638.52 51935773.67
（1）Classification by Nature of Funds
Nature of funds Ending balance Beginning balance
Staff imprest loans 5340979.54 5538070.11
Deposits 4234421.92 4708287.94Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Nature of funds Ending balance Beginning balance
Export tax rebates 36758991.54 14390254.25
Related party balances 29650167.32 27955695.32
Others 2014741.42 353890.67
Total 77999301.74 52946198.29
（2）Aging Analysis
Aging Ending balance Beginning balance
Within 3 months (inclusive; the same below) 40739227.67 17939365.50
3 - 6 months 2605263.29 673823.08
6 months - 1 year 512725.50 1089947.00
1-2 years 2419790.06 2456425.93
2-3 years 1747950.58 1357908.14
Over 3 years 29974344.64 29428728.64
Total 77999301.74 52946198.29
（3） Provision for Bad Debts
* Details by category
Ending balance
Carrying balance Provision for bad debts
Category Provision
Proportion Carrying value
Amount Amount Proportion
(%)
(%)
Provision made individually 76340825.74 97.87 1010424.62 1.32 75330401.12
Including: Other receivables
with individually made
9931666.8812.731010424.6210.178921242.26
provision despite immaterial
individual amounts
Export tax rebates
36758991.5447.1336758991.54
receivableNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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 Provision
Proportion Carrying value
Amount Amount Proportion
(%)
(%)
Other receivables from
related parties under common
29650167.3238.0129650167.32
control or with significant
influence
Provision made on a portfolio
1658476.002.13144238.608.701514237.40
basis
Subtotal 77999301.74 100.00 1154663.22 1.48 76844638.52
(Continued)
Beginning balance
Carrying balance Provision for bad debts
Category Provision
Proportion Carrying value
Amount Amount Proportion
(%)
(%)
Provision made individually 52946198.29 100.00 1010424.62 1.91 51935773.67
Including: Other receivables with
individually made provision
10600248.7220.021010424.629.539589824.10
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 51935773.67Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
4) Changes in Provision for Bad Debts
* Details
Stage 1 Stage 2 Stage 3
Expected credit
Expected credit
loss for the
Items Next 12 months loss for the entire entire period Subtotal
Expected credit period (no credit
(credit
losses impairment
impairment
incurred)
incurred)
Beginning balance 1010424.62 1010424.62
Movement of
beginning balance —— —— ——
during the period
--Transfer to Stage
2
--Transfer to Stage
3
--Reversal to Stage
2
--Reversal to Stage
1
Provision made
144238.60144238.60
during the period
Recovery or
reversal during the
period
Write-off during
the period
Other changes
Ending balance 144238.60 1010424.62 1154663.22
* Provision recovery or reversal of bad debts for other receivables during the periodNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Changes during the period
Category Beginning balance Recovery or Write-off or Ending balance
Provision Others
reversal derecognition
Provision made
1010424.621010424.62
individually
Provision made on a
144238.60144238.60
portfolio basis
Total 1010424.62 144238.60 1154663.22
5) Top 5 Other Receivables by Balance
Carrying Percentage of Provision for
Nature of amount at the other bad debts at the
Name of Entity Aging
funds end of the receivables end of the
period balance (%) period
Export tax
Provincial Tax Bureau Within 3
rebate 36758991.54 47.13months
Related
Meiling Equator Home
party
Appliance (Hefei) Co. Ltd. 26534998.56 Over 1 years 34.02
balances
Related
Hefei Changhong Meiling
party Within 2
Life Appliances Co. Ltd. 2778437.89 3.56
balances year
Shandong Xiaoya Intelligent
Others
Appliance Co. Ltd. 1418376.00 3 - 6 months 1.82 141837.60
Hainan Hengqian Material
Deposits
Equipment Co. Ltd. 539258.90 Over 4 years 0.69 539258.90
Total 68030062.89 87.22 681096.50
3. Long-term Equity Investments
(1) DetailsNotes to the Financial Statements of Changhong Meiling Co. Ltd.
For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Ending balance
Items Provision for
Carrying balance Carrying value
impairment
Investments in subsidiaries 2176985053.01 2176985053.01
Investments in associates and
81735707.3181735707.31
joint ventures
Total 2258720760.32 2258720760.32
(Continued)
Beginning balance
Items Provision for
Carrying balance Carrying value
impairment
Investments in subsidiaries 2077985053.01 2077985053.01
Investments in associates and
82396838.1082396838.10
joint ventures
Total 2160381891.11 2160381891.11
(2) Investments in Subsidiaries
Beginning balance Changes during the period Ending balance
Imp Impa
Reduct Provisi
airm irme
Investee Carrying Additional ion in on for Othe Carrying
ent nt
value investment invest impair rs value
prov provi
ment ment
ision sion
Zhongke Meiling
Cryogenic
42652000.0042652000.00
Technology Co.Ltd.Mianyang Meiling
Refrigeration Co. 95000000.00 95000000.00
Ltd.Zhongshan
Changhong 304856419.37 304856419.37
Electric Co. Ltd.Sichuan 955600437.79 955600437.79Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Beginning balance Changes during the period Ending balance
Imp Impa
Reduct Provisi
airm irme
Investee Carrying Additional ion in on for Othe Carrying
ent nt
value investment invest impair rs value
prov provi
ment ment
ision sion
ChanghongAir
Conditioner Co.Ltd.Hefei Meiling
Group Holdings 113630000.00 113630000.00
Limited
Jiangxi Meiling
Electric Appliance 79000000.00 79000000.00
Co. Ltd.Changhong
Meiling Ridian
91082111.1291082111.12
Technology Co.Ltd.CH-Meiling.Intern
ational 6889100.00 6889100.00
(Philippines) Inc.Hefei Changhong
Meiling Life
35000000.0035000000.00
Appliances Co.Ltd.Sichuan Hongmei
Intelligent
22725052.6022725052.60
Technology Co.Ltd.Hefei Changhong
Industrial Co. 232549932.13 232549932.13
Ltd.Mianyang
99000000.0099000000.00198000000.00
Changhong SmartNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Beginning balance Changes during the period Ending balance
Imp Impa
Reduct Provisi
airm irme
Investee Carrying Additional ion in on for Othe Carrying
ent nt
value investment invest impair rs value
prov provi
ment ment
ision sion
Home Appliances
Co. Ltd.Subtotal 2077985053.01 99000000.00 2176985053.01
(3) Investments in Associates
Beginning balance Changes during the period
Investment Other
Provisi Additi
income comprehen
Investee on for onal Disposal of
Carrying value recognized sive
impair invest investment
under equity income
ment ment
method adjustments
Sichuan Zhiyijia
Network Technology 68150589.09 2720933.90
Co. Ltd.Hefei Xingmei
Asset Management 14246249.01 446863.24
Co. Ltd.Total 82396838.10 3167797.14
(Continued)
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
Sichuan Zhiyijia
Network Technology 3828927.93 67042595.06
Co. Ltd.Notes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Management Co. 14693112.25
Ltd.Total 3828927.93 81735707.31
(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
5067112234.844689073833.724643697112.914076775488.87
principal operations
Revenue from other
305809149.84276028809.44295958421.24271930200.67
operations
Total 5372921384.68 4965102643.16 4939655534.15 4348705689.54
(2) Breakdown of Revenue
Current period amount Corresponding prior period amount
Items
Revenue Costs Revenue Costs
By product type:
Including: Air
7993763.687952694.902388159.282388170.75
conditioners
Refrigerators
3773268396.613515787963.023553250909.023134690054.32
(freezers)
Washing
1168064112.341063050782.64979953883.74845538266.35
machinesNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(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
Kitchen and
bathroom products
and small 117042596.45 101539607.26 108104160.87 94158997.45
household
appliances
Others 306552515.60 276771595.34 295958421.24 271930200.67
By operating
region:
Including:
2385983786.972325056089.822461842181.032197992715.31
Domestic
Overseas 2986937597.71 2640046553.34 2477813353.12 2150712974.23
Subtotal 5372921384.68 4965102643.16 4939655534.15 4348705689.54
2. Investment Income
Current period Corresponding prior
Items
amount period amount
Income from long-term equity investments accounted
4131000.003672000.00
for under the equity method
Income from long-term equity investments accounted
3167797.144837089.05
for under the cost method
Investment income from disposal of long-term equity
38829.19
investments
Investment income from other non-current financial
4618767.1013209863.22
assets held during the period
Investment income from disposal of tradable financial
13930052.778556050.14
assets
Investment income from disposal of derivative
2968692.97-9549788.20
financial assets
Interest income from debt investments held during the
11948277.7613700694.44
periodNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Gains on derecognition of financial assets measured at
-4908820.73556040.92
amortized cost
Total 35855767.01 35020778.76
XVII. Other Supplementary Information
(I) Non-recurring Gains and Losses
Items Amount Description
Gains or losses on disposal of non-current assets including
the reversal of previously recognized asset impairment -24634.31
provisions
Government grants recognized in profit or loss for the
current period excluding those closely related to the
Company’s normal operations in compliance with national 23163413.23
policies enjoyed according to fixed standards and having a
sustained impact on the Company’s profit or loss
Gains or losses from fair value changes of financial assets
and financial liabilities held by non-financial enterprises and
gains or losses from disposal of such assets and liabilities 42957594.76
other than effective hedging activities related to the
Company’s normal operations
Reversal of impairment provisions for receivables tested for
3088385.77
impairment individually
Other non-operating income and expenses other than the
12772728.29
above items
Subtotal 81957487.74
Less: Effect of enterprise income tax (reduction in income
13056215.23
tax is indicated by “?”)
Effect of minority interests (after tax) 1957504.86
Net non-recurring gains and losses attributable to owners of
66943767.65
the parent company
(II) Return on Net Assets and Earnings per ShareNotes to the Financial Statements of Changhong Meiling Co. Ltd.For the period from January 1 2026 to June 30 2026
(Unless otherwise specified all items in these notes to the financial statements are presented in RMB.)
Weighted average Earnings per share (yuan/share)
Profit for the reporting period return Basic earnings per Diluted earnings
Rate of return (%) share per share
Net profit attributable to
ordinary shareholders of the 0.95 0.0574 0.0574
Company
Net profit attributable to
ordinary shareholders of the
-0.15-0.0089-0.0089
Company after deducting
non-recurring gains and losses
Changhong Meiling Co. Ltd.August 20 2026
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