CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
Stock Code: 000521, 200521 Short Form of the Stock: Changhong Meiling, Hongmeiling B
Announcement No.: 2026-029
Changhong Meiling Co., Ltd.
The Company and all members of the Board of Directors hereby confirm that the content of
this information disclosure is true, accurate, complete, and free from fictitious statements,
misleading statements, or important omissions.
Important Notice:
Does any director or senior executive has objections to the content of the quarterly report or is
unable to guarantee its truthfulness, accuracy, and completeness?
□ Yes √ No
(hereinafter referred to as the Company) hereby confirm that there are no any fictitious statements,
misleading statements, or important omissions carried in this report, and shall take all
responsibilities, individual and/or joint, for the reality, accuracy and completion of the whole
contents.
work and Mr. Hu Xiangfei, person in charge of accounting organ (accountant in charge) hereby
confirm that the financial information of the Quarterly Report is authentic, accurate and complete.
□ Yes √ No
I. Major Financial Data
(I) Main accounting data and financial indexes
Does it have retroactive adjustment or re-statement on previous accounting data?
□ Yes √ No
CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
Change compared to the same
Reporting period Corresponding prior period
period of last year (%)
Operating revenue (RMB) 7,322,896,084.98 7,360,074,545.63 -0.51%
Net profit attributable to
shareholders of the listed 70,245,592.67 181,668,589.37 -61.33%
company (RMB)
Net profit attributable to
shareholders of the listed
company after deducting non- 60,676,782.34 173,774,809.05 -65.08%
recurring gains and losses
(RMB)
Net cash flows generated
from operating activities -854,637,431.62 -1,285,257,080.53 33.50%
(RMB)
Basic earnings per share
(RMB/share)
Diluted earnings per share
(RMB/share)
Weighted average return on Decrease by 1.65 percentage
net assets points
Change compared to end of
End of the reporting period End of last year
last year (%)
Total assets (RMB) 23,220,391,491.36 22,302,792,548.16 4.11%
Equity attributable to
shareholders of the listed 6,105,523,912.60 6,083,548,865.34 0.36%
company (RMB)
(II) Items and amounts of non-recurring gains and losses
√ Applicable □ Not applicable
Unit: RMB
Items Amount in the reporting period Description
Gains or losses on disposal of non-current assets
(including the reversal of previously recognized asset -28,114.29 ——
impairment provisions)
Government grants recognized in profit or loss for the
current period (excluding those closely related to the
Company’s normal operations, in compliance with
national policies, enjoyed according to fixed standards
and having a sustained impact on the Company’s profit or
loss)
Gains or losses from fair value changes of financial assets
and financial liabilities held by non-financial enterprises
and gains or losses from disposal of such assets and 1,617,165.33 ——
liabilities, other than effective hedging activities related
to the Company’s normal operations
Other non-operating income and expenses other than the
above items
Less: impact on income tax 3,107,140.98 ——
Effect of minority interests (after tax) 1,165,084.58 ——
Total 9,568,810.33 ——
CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
Details of other gains/losses items that meets the definition of non-recurring gains and losses
□ Applicable √ Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains and losses in
the Company.
Explain the items defined as recurring gains and losses according to the lists of non-recurring gains
and losses in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Non-recurring Gains and Losses
□ Applicable √ Not applicable
There are no items defined as recurring profit (gain)/loss according to the lists of non-recurring
gains and losses in Q&A Announcement No.1 on Information Disclosure for Companies Offering
Their Securities to the Public --- Non-recurring Gains and Losses.
(III) Analysis of changes in main accounting data and financial indexes
√ Applicable □ Not applicable
Balance at end of
Report item Ending balance Change ratio Reason for change
previous year
Mainly due to the purchase of
Trading financial assets 1,360,006,045.59 —— —— wealth management products in the
current period
Mainly due to an increase in sales
Accounts receivable 3,312,303,034.47 2,014,944,491.33 64.39%
compared to the previous period
Mainly due to changes in
Other Non-current Assets 17,920,119.15 26,856,492.34 -33.27%
prepayments in the current period
Derivative financial Mainly due to exchange rate
liabilities fluctuations in the current period
Mainly due to changes in advances
Contract liabilities 441,379,666.31 871,792,341.16 -49.37% from customers in the current
period
Mainly due to changes in value-
Taxes payable 88,690,013.29 63,147,720.26 40.45% added tax and additional taxes in
the current period
Mainly due to changes in relevant
taxes arising from changes in
Other current liabilities 21,706,579.53 54,001,977.67 -59.80%
advances from customers in the
current period
Mainly due to ongoing stock
Treasury shares 142,219,287.34 86,960,746.82 63.54%
repurchases in the current period
Corresponding prior
Report item Current period amount Change Ratio Reason for change
period amount
Mainly due to exchange rate
Financial Expenses -13,582,016.45 -7,929,626.86 -71.28%
fluctuations in the current period
CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
Mainly due to changes in the
Other Income 22,360,871.79 36,739,447.51 -39.14% VAT additional deduction in the
current period
Mainly due to exchange rate
Investment income 25,710,006.12 -7,636,637.23 436.67%
fluctuations in the current period
Income from fair Mainly due to exchange rate
-8,399,712.58 47,529,054.02 -117.67%
value changes fluctuations in the current period
Mainly due to changes in
Credit Impairment provisions for bad debt losses on
-10,741,549.30 -26,670,633.00 -59.73%
Losses accounts receivable in the current
period
Non-operating Mainly due to changes in
Expenses donations in the current period
Mainly due to changes in profit in
Income tax expenses 4,367,148.47 22,938,798.96 -80.96%
the current period
Current period Corresponding prior
Report item Change Ratio Reason for change
amount period amount
Mainly due to changes in tax
Tax refunds received 290,698,370.42 444,838,571.60 -34.65% refunds received in the current
period
Other Cash Received Mainly due to changes in
Relating to Operating 31,268,611.29 18,889,677.59 65.53% government grants received in
Activities the current period
Mainly due to changes in
Cash paid for various taxes 61,801,673.79 148,508,468.23 -58.39% value-added tax and additional
taxes paid in the current period
Mainly due to the changes
Cash received from arising from the maturity of
investment recovery wealth management products
in the current period
Mainly due to changes in
Cash received from
investment income
products in the current period
Other Cash Received Mainly due to exchange rate
Relating to Investing 59,238,883.52 41,708,691.28 42.03% fluctuations in the current
Activities period
Mainly due to the changes
arising from the purchase of
Cash paid for investments 8,264,084,848.48 6,170,145,888.89 33.94%
wealth management products
in the current period
Mainly due to exchange rate
Other Cash Paid Relating
to Investing Activities
period
Mainly due to changes in
Cash received from
borrowings
period
Mainly due to changes arising
Cash paid for repayment of from the repayment of
debts borrowings in the current
period
Mainly due to changes in bank
Other Cash Paid Relating
to Financing Activities
addition of stock repurchase
CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
business in the current period
Mainly due to exchange rate
Effect of exchange rate
-12,509,417.62 2,288,462.86 -646.63% fluctuations in the current
changes on cash
period
II. Use of Proceeds
□ Applicable √ Not applicable
The Company had no use of proceeds during the reporting period.
III. Shareholder Information
(I) Total Number of ordinary shareholders and preference shareholders with restored voting
rights, and shareholdings of the top 10 shareholders
Unit: Shares
Total number of preferred shareholders
Total number of ordinary shareholders at the end of the
reporting period
reporting period (if any)
Shareholdings of the top 10 shareholders (excluding shares lent through securities lending and borrowing)
Numb Pledge, marking or freezing status
er of
shares
Shareho
subjec
Nature of lding Number of
Name of shareholder t to
shareholders Ratio shares held Status of shares Number
restric
(%)
ted
condit
ions
Sichuan Changhong Electric Co., State-owned legal
Ltd. person
CHANGHONG (HK) TRADING Overseas legal
LIMITED person
Hong Kong Securities Clearing Overseas legal
Company Limited person
Hefei Industry Investment State-owned legal
Holding (Group) Co., Ltd. person
Overseas natural
CAO SHENGCHUN 1.43% 14,766,086 0 —— ——
person
Domestic natural
Wang Jialing 1.18% 12,200,018 0 —— ——
person
Domestic natural
Li Tao 0.83% 8,500,000 0 —— ——
person
Industrial and Commercial Bank
of China Limited – Taikang Domestic non-
Strategy Preferred Flexible state-owned legal 0.75% 7,687,900 0 —— ——
Allocation Hybrid Securities person
Investment Fund
China Merchants Bank Co., Ltd. Domestic non-
– Taikang Quality Life Hybrid state-owned legal 0.74% 7,657,400 0 —— ——
Securities Investment Fund person
Bank of China Limited – HuaBao Domestic non-
S&P China A-Share Dividend state-owned legal
CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
Opportunity ETF person
Shareholding of the top 10 shareholders with unrestricted shares (excluding shares lent through securities lending and senior
management lock-up shares)
Number of shares not subject to Type of shares
Name of shareholder
restricted conditions Type of shares Number
RMB ordinary
Sichuan Changhong Electric Co., Ltd. 248,457,724 248,457,724
shares
Domestically
CHANGHONG (HK) TRADING LIMITED 27,077,797 listed foreign 27,077,797
shares
RMB ordinary
Hong Kong Securities Clearing Company Limited 26,137,451 26,137,451
shares
RMB ordinary
Hefei Industry Investment Holding (Group) Co., Ltd. 18,864,896 18,864,896
shares
Domestically
CAO SHENGCHUN 14,766,086 listed foreign 14,766,086
shares
RMB ordinary
Wang Jialing 12,200,018 12,200,018
shares
RMB ordinary
Li Tao 8,500,000 8,500,000
shares
Industrial and Commercial Bank of China Limited – RMB ordinary
Taikang Strategy Preferred Flexible Allocation Hybrid 7,687,900 shares 7,687,900
Securities Investment Fund
China Merchants Bank Co., Ltd. – Taikang Quality RMB ordinary
Life Hybrid Securities Investment Fund shares
Bank of China Limited – HuaBao S&P China A-Share RMB ordinary
Dividend Opportunity ETF shares
Among the above shareholders, CHANGHONG (HK)
TRADING LIMITED (hereinafter referred to as “Hong Kong
Changhong”) 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
Explanation of related-party relationships or acting-in-concert (Hong Kong) Limited. Sichuan Changhong and Hong Kong
arrangements among the above shareholders Changhong have a related party relationship and constitute
acting-in-concert parties. The Company is unaware of whether
there are any related party relationships among other
shareholders, and also unaware whether other shareholders
constitute acting-in-concert parties as defined in the
Administrative Measures for the Takeover of Listed
Companies.
Explanation of participation by the top 10 shareholders in margin
N/A
financing and securities lending (if any)
Note: As of March 31, 2026, the Company had cumulatively repurchased 21,201,570 A shares through a dedicated securities
account for repurchase via centralized bidding, representing 2.0586% of the Company’s total share capital.
Participation of shareholders holding more than 5%, the top 10 shareholders, and the top 10
unrestricted circulating shareholders in securities lending under the margin trading and securities
lending scheme
□ Applicable √ Not applicable
Changes in the top 10 shareholders and top 10 unrestricted circulating shareholders’ holdings
compared to the previous period due to lending/return under the margin trading and securities
lending scheme
CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
□ Applicable √ Not applicable
(II) Total number of preference shareholders of the Company and shareholdings of the top 10
preference shareholders
□ Applicable √ Not applicable
IV. Other Significant Matters
√ Applicable □ Not applicable
Inquiry index for websites for
Important Events Summary Disclosure date
disclosure of interim reports
Upon the deliberation and approval of the Company’s board of
directors and shareholders’ meeting, Mr. Li Xiaodong is elected
Juchao Website:
as an independent non-executive director of the 11th board of
January 27, 2026, http://www.cninfo.com.cn
directors of the Company. His term of office shall commence on
February 12, 2026 (Announcements No. 2026-003,
the date of deliberation and approval at the first extraordinary
No. 2026-004, No. 2026-008)
general meeting of shareholders in 2026 and expire on the date of
the completion of the term of the 11th board of directors.
Upon the deliberation and approval of the board of directors of
the Company, Mr. Li Xiaodong is elected as Chairman of the 11th
board of directors of the Company. To further standardize the
corporate governance structure and ensure the rationality and
completeness of the composition of members of the special
Juchao Website:
committees under the board of directors, the board has approved
http://www.cninfo.com.cn
the appointment of Mr. Li Xiaodong as Chairman of the Strategy February 12, 2026
(Announcements No. 2026-009,
Committee, member of the Audit Committee, member of the
No. 2026-010)
Nomination Committee, and Chairman of the ESG Management
Committee of the 11th board of directors. His term of office shall
commence on the date of deliberation and approval at the 27th
meeting of the 11th board of directors and expire on the date of
the completion of the term of the 11th board of directors.
On July 15, 2025, the Company conducted its first A-share
repurchase through a dedicated stock repurchase securities
account via centralized bidding. As of March 31, 2026, the January 6, 2026, Juchao Website:
Company has cumulatively repurchased 21,201,570 A-shares, February 4, 2026, http://www.cninfo.com.cn
accounting for 2.0586% of the Company’s total share capital. The March 4, 2026, (Announcements No. 2026-001,
highest transaction price of this A-share repurchase was 7.45 March 28, 2026, No. 2026-006, No. 2026-011,
RMB/share, the lowest was 5.86 RMB/share, with a total April 2, 2026 No. 2026-012 and No. 2026-013)
transaction amount of RMB 142,205,019.88 (excluding
transaction fees).
V. Quarterly Financial Statements
(I) Financial Statements
Prepared by: Changhong Meiling Co., Ltd.
Unit: RMB
Items Ending balance Beginning balance
Current Assets:
Cash and cash equivalents 8,338,028,742.77 10,186,661,869.94
Settlement reserve
CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
Funds lent
Trading financial assets 1,360,006,045.59
Derivative financial assets 78,993,785.90 61,841,784.71
Notes receivable
Accounts receivable 3,312,303,034.47 2,014,944,491.33
Accounts receivable financing 418,786,586.01 409,930,586.39
Prepayments 85,436,681.06 92,667,517.48
Premiums receivable
Reinsurance receivables
Reinsurance contract reserves
receivable
Other receivables 31,202,190.23 41,558,190.51
Including: Interest receivable
Dividends receivable
Financial assets purchased under
resale agreements
Inventory 2,289,976,556.03 2,079,744,997.60
Including: Data resources
Contract assets 667,445.88 725,425.50
Assets held for sale
Non-current Assets Due within One
Year
Other Current Assets 478,041,097.74 372,910,923.88
Total current assets 16,995,360,439.30 15,920,781,908.05
Non-Current Assets:
Loans and advances
Debt Investments 1,445,816,130.76 1,661,029,964.49
Other debt investments
Long-term receivables
Long-term Equity Investments 88,672,723.81 88,148,806.34
Other equity instrument investments
Other Non-current Financial Assets 661,832,269.76 661,832,269.76
Investment Properties 62,610,414.01 63,387,835.97
Fixed assets 2,294,227,563.60 2,276,129,362.07
Construction in progress 161,070,229.32 127,282,346.90
Productive biological assets
Oil and gas assets
Right-of-use assets 126,604,414.61 132,921,569.77
intangible assets 1,013,205,683.81 1,031,493,131.01
Including: Data resources
Development Expenditures 194,663,558.98 158,231,792.93
Including: Data resources
Goodwill
Long-term Deferred Expenses 28,896,846.42 26,427,371.81
Deferred tax assets 129,511,097.83 128,269,696.72
Other Non-current Assets 17,920,119.15 26,856,492.34
Total non-current assets 6,225,031,052.06 6,382,010,640.11
Total assets 23,220,391,491.36 22,302,792,548.16
Current Liabilities:
Short-term borrowings 913,527,253.83 810,099,931.94
Borrowings from central bank
Funds borrowed
Trading financial liabilities
Derivative financial liabilities 69,362,608.91 38,804,849.55
Notes payable 7,055,721,694.60 7,004,658,556.59
Accounts payable 6,145,464,523.71 4,934,324,141.76
CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
Advances Received 914,368.71 20,340.81
Contract liabilities 441,379,666.31 871,792,341.16
Financial assets sold under repurchase
agreements
Deposits and interbank placements
Securities sold for clients
Securities underwriting payables
Employee Benefits Payable 272,422,783.40 382,124,656.03
Taxes Payable 88,690,013.29 63,147,720.26
Other payables 1,167,157,001.72 1,154,695,090.66
Including: Interest payable
Dividends payable 7,492,505.08 7,492,505.08
Fees and commissions payable
Reinsurance payables
Liabilities held for sale
Non-current Liabilities Due within
One Year
Other current liabilities 21,706,579.53 54,001,977.67
Total current liabilities 16,222,960,152.29 15,359,674,809.26
Non-Current Liabilities:
Insurance contract reserves
Long-term Borrowings 135,074,250.00 111,178,667.25
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 107,816,181.66 114,402,511.69
Long-term Payables 64,854.43 117,944.72
Long-term Employee Benefits Payable 8,687,907.38 9,021,087.36
Estimated liabilities 34,783,241.30 33,463,947.66
Deferred income 148,932,005.76 139,056,707.76
Deferred tax liabilities 44,544,875.18 44,604,488.14
Other non-current liabilities
Total non-current liabilities 479,903,315.71 451,845,354.58
Total Liabilities 16,702,863,468.00 15,811,520,163.84
Owners’ equity:
Share capital 1,029,923,715.00 1,029,923,715.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital Reserves 2,749,778,298.08 2,749,778,298.08
Less: Treasury shares 142,219,287.34 86,960,746.82
Other Comprehensive Income -24,633,748.57 -23,780,049.29
Special Reserve 46,232,976.53 38,391,282.14
Surplus Reserves 551,363,051.46 551,363,051.46
General risk reserves
Undistributed Profits 1,895,078,907.44 1,824,833,314.77
Total equity attributable to owners of the
parent company
Minority Interests 412,004,110.76 407,723,518.98
Total owners’ equity 6,517,528,023.36 6,491,272,384.32
Total liabilities and owners’ equity 23,220,391,491.36 22,302,792,548.16
Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting department: Hu
Xiangfei
CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
Unit: RMB
Amounts incurred during
Items Amount in prior period
the period
I. Total operating revenue 7,322,896,084.98 7,360,074,545.63
Including: Operating revenue 7,322,896,084.98 7,360,074,545.63
Interest income
Earned premiums
Fee and commission income
II. Total operating costs 7,237,028,511.70 7,153,061,808.06
Including: Operating cost 6,626,194,260.59 6,489,256,428.27
Interest expense
Fee and commission expense
Surrender payments
Net claims expense
Net amount of withdrawal of insurance reserve
Policyholder dividends paid
Reinsurance expenses
Taxes and Surcharges 30,106,691.60 26,909,661.98
Selling Expenses 361,488,537.07 397,393,048.13
Administrative Expenses 71,321,520.11 96,394,611.33
Research and Development Expenses 161,499,518.78 151,037,685.21
Financial Expenses -13,582,016.45 -7,929,626.86
Including: Interest expenses 7,447,200.71 5,315,614.00
Interest income 25,460,537.43 36,935,388.99
Add: Other Income 22,360,871.79 36,739,447.51
Investment income (losses indicated with “–”) 25,710,006.12 -7,636,637.23
Including: Share of profit of associates and joint
ventures
Gains on derecognition of financial assets
-956,440.77 -2,043,924.19
measured at amortized cost
Foreign exchange gains (losses indicated with “–”)
Net hedging gains (losses indicated with “–”)
Gains from changes in fair value (losses indicated with “–”) -8,399,712.58 47,529,054.02
Credit impairment losses (losses indicated with “–”) -10,741,549.30 -26,670,633.00
Asset impairment losses (losses indicated with “–”) -36,767,478.53 -48,763,745.14
Gains on disposal of assets (losses indicated with “–”)
III. Operating profit (losses indicated with “–”) 78,029,710.78 208,210,223.73
Add: Non-operating Income 1,220,013.92 1,004,640.48
Less: Non-operating Expenses 593,735.23 130,434.82
IV. Total profit (total losses indicated with “–”) 78,655,989.47 209,084,429.39
Less: Income tax expenses 4,367,148.47 22,938,798.96
V. Net profit (net losses indicated with “–”) 74,288,841.00 186,145,630.43
(I) Classified by continuity of operations
with “–”)
indicated with “–”)
CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
(II) Classified by ownership
VI. Net of tax of other comprehensive income -894,167.61 -1,042,065.97
Other comprehensive income, net of tax, attributable to owners
-853,699.28 -1,042,065.97
of the parent company
(I) Other comprehensive income not reclassifiable to profit or
loss
not reclassifiable to profit or loss
investments
credit risk
(II) Other comprehensive income to be reclassified into profit
-853,699.28 -1,042,065.97
or loss
reclassifiable to profit or loss
upon reclassification of financial assets
investments
-853,699.28 -1,042,065.97
difference
Other comprehensive income, net of tax, attributable to minority
-40,468.33
shareholders
VII. Total Comprehensive Income 73,394,673.39 185,103,564.46
Total comprehensive income attributable to owners of the parent
company
Total comprehensive income attributable to minority
shareholders
VIII. Earnings per share:
(I) Basic earnings per share 0.0691 0.1764
(II) Diluted earnings per share 0.0691 0.1764
During the period, the net profit realized by the acquired entity under the common control business combination
before the combination was RMB 0, and in the previous period it was RMB 0.
Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting department: Hu
Xiangfei
Unit: RMB
Items Amounts incurred during the period Amount in prior period
I. Cash flows from operating activities:
Cash received from sale of goods and
provision of services
Net increase in customer deposits and
interbank placements
Net increase in borrowings from the
CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
central bank
Net increase in funds borrowed from
other financial institutions
Cash received from original insurance
premiums
Net cash received from reinsurance
business
Net increase in policyholder deposits
and investment funds
Cash received for interest, fees and
commissions
Net increase in borrowed funds
Net increase in repurchase business
funds
Net cash received from agency
securities transactions
Tax refunds received 290,698,370.42 444,838,571.60
Other Cash Received Relating to
Operating Activities
Subtotal of Cash Inflows from Operating
Activities
Cash paid for purchase of goods and
services received
Net increase in loans and advances to
customers
Net increase in placements with the
central bank and other banks
Cash paid for claims under original
insurance contracts
Net increase in funds lent
Cash paid for interest, fees and
commissions
Cash paid for policyholder dividends
Cash paid to and on behalf of
employees
Cash paid for various taxes 61,801,673.79 148,508,468.23
Other Cash Paid Relating to Operating
Activities
Subtotal of Cash Outflows from
Operating Activities
Net cash flows generated from operating
-854,637,431.62 -1,285,257,080.53
activities
II. Cash flows from investing activities:
Cash received from investment
recovery
Cash received from investment
income
Net cash received from disposal of
fixed assets, intangible assets, and other 229,333.21 11,422.55
long-term assets
Net cash received from disposal of
subsidiaries and other business units
Other Cash Received Relating to
Investing Activities
CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
Subtotal of Cash Inflows from Investing
Activities
Cash paid for acquisition and
construction of fixed assets, intangible 88,146,123.54 100,171,495.72
assets, and other long-term assets
Cash paid for investments 8,264,084,848.48 6,170,145,888.89
Net increase in pledged loans
Net cash paid to acquire subsidiaries
and other business units
Other Cash Paid Relating to Investing
Activities
Subtotal of Cash Outflows from
Investing Activities
Net Cash Flows from Investing
-1,182,996,202.14 -1,602,663,383.57
Activities
III. Cash flows from financing activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholders’ investment in
subsidiaries
Cash received from borrowings 355,113,600.00 1,160,618,410.98
Other Cash Received Relating to
Financing Activities
Subtotal of Cash Inflows from Financing
Activities
Cash paid for repayment of debts 227,635,811.06 790,638,439.12
Cash paid for dividends, profit
distribution, or interest
Including: Dividends and profit paid
to minority shareholders by subsidiaries
Other Cash Paid Relating to Financing
Activities
Subtotal of Cash Outflows from
Financing Activities
Net Cash Flows from Financing
Activities
IV. Effect of exchange rate changes on
-12,509,417.62 2,288,462.86
cash and cash equivalents
V. Net increase in cash and cash
-1,938,745,348.34 -2,314,907,294.62
equivalents
Add: Cash and cash equivalents at
beginning of period
VI. Ending balance of cash and cash
equivalents
(II) Adjustments to relevant items in the opening financial statements for the year of first-
time adoption of new accounting standards, effective from 2026
□ Applicable √ Not applicable
(III) Audit Report
Has the financial and accounting report for the first quarter been audited?
CHANGHONG MEILING CO., LTD. 2026 First Quarter Report
□ Yes √ No
The Company’s financial and accounting report for the first quarter has not been audited.
Board of Directors of Changhong Meiling Co., Ltd.
April 22, 2026
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