长虹美菱: 2024年第一季度报告

证券之星 2024-04-20 00:00:00
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                                                   CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
Stock Code: 000521, 200521          Stock Abbreviation: Changhong Meiling, Hongmeiling B
Announcement No.: 2024-022
                                    Changhong Meiling Co., Ltd.
                               The First Quarterly Report of 2024
The Company and whole members of the Board guarantee that the information disclosed is true, accurate and
complete and there are no fictitious records, misleading statements or material omissions carried in the Report.
Important Note:
the Company) and its directors, supervisors and senior executives should guarantee the reality, accuracy and
completion of the quarterly report, there are no any fictitious statements, misleading statements or important
omissions carried in this report, and shall take legal responsibilities, individual and/or joint.
person in charger of accounting organ (accounting officer) hereby confirm that the financial information of this
Quarterly Report is authentic, accurate and complete.
□Yes √No
I. Main financial data
(i) Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes √No
                                                                                                         Changes of this
                                                       Current Period        Same period of last year   period over same
                                                                                                        period of last year
Operating income (RMB)
                                                           CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
Net profit attributable to shareholders of the listed
company (RMB)                                                      155,536,230.57             122,540,351.10             26.93%
Net profit attributable to shareholders of the listed
company after deducting non-recurring gains and
losses (RMB)
Net cash flow arising from operating activities
(RMB)                                                            -114,083,183.60           -372,008,676.48               69.33%
Basic earnings per share (RMB/Share)
Diluted earnings per share (RMB/Share)
Weighted average ROE
                                                                                                                  Changes of this
                                                             End of this period         End of last period       period-end over
                                                                                                                 same period-end
                                                                                                                   of last year
Total assets (RMB)
Owners’ equity attributable to shareholders of listed
company (RMB)                                                  5,980,802,290.29           5,824,782,654.09                2.68%
(ii)Items of non-recurring gains and losses
√ Applicable □ Not applicable
                                                                                                                       In RMB
                                 Item                                        Current amount                     Note
  Gains/losses from the disposal of non-current asset (including
  the write-off that accrued for impairment of assets)                                 36,334.95
  Governmental subsidy calculated into current gains and
  losses(while closely related with the normal business of the
  Company, the government subsidy that accord with the                                               Mainly due to government
  provision of national policies and are continuously enjoyed in                                     subsidies.
  line with a certain standard quota or quantity are excluded)
  Gain and loss from change of the fair value arising from
  transactional monetary assets, transactional financial liabilities
                                                                                                     Mainly due to the non
  as held as well as the investment income arising from disposal
                                                                                                     cancelable orders and change
  of the transactional monetary assets, transactional financial
                                                                                  -45,481,586.24     of the fair value of forward
  liabilities and financial assets available for sale excluding the
                                                                                                     foreign exchange contract
  effective hedging transaction in connection with the Company’s
                                                                                                     changes
  normal business
  Switch back of the impairment for receivables that has
  impairment test independently                                                       730,284.97
  Other non-operating income and expenses other than the above
                                                                                    -2,109,577.93
  Less: impact on income tax
                                                                                    -4,947,542.79
  Impact on minority shareholders’ equity (post-tax)
  Total
                                                                                  -30,412,904.89                 --
                                                    CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
Details of other profit and loss items that meet the non-recurring profit and loss definition
□ Applicable √ Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.
Explain the items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss
in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public -
-- Extraordinary Profit/loss(revised in 2023)
□ Applicable √ Not applicable
There are no items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss
in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public -
-- Extraordinary Profit/loss (revised in 2023).
(iii)Particulars about material changes in items of main accounting statement and financial index and
explanations of reasons
√ Applicable □Not applicable
                                                                                                                In RMB
                                                                    Changes
         Item            Ending balance      Opening balance                             Reasons of changes
                                                                     ratio
                                                                                Mainly due to the purchase of wealth
Trading financial
assets
                                                                                in the current period.
                                                                                Mainly due to the increase in sales
Account receivable      2,375,000,927.75     1,633,706,889.06         45.37%    during the current period
                                                                                Mainly due to the increase in stocking
Inventory               3,402,387,173.63     2,022,738,412.97         68.21%    for peak seasonin the current period.
                                                                                Mainly due to the transfer of the
Contract assets             9,245,092.98           13,261,690.62     -30.29%    Company's contract assets to accounts
                                                                                receivable in the current period
                                                                                Mainly due to the maturity of the
Non-current asset due
within one year
                                                                                deposit in the current period
                                                                                Mainly due to the increase in the
                                                                                Company's fixed deposits and value-
Other current assets     316,348,294.36           225,419,883.07      40.34%    added tax to be deducted during the
                                                                                current period
                                                                                Mainly due to the increase in the
Creditor's rights
investment
                                                                                in the current period.
                                                                                Mainly due to the non cancelable orders
Trading financial
Liabilities
                                                                                foreign exchange contract changes
                                                                                Mainly due to the increase in the
Account payable         5,231,251,785.68     3,882,303,908.89         34.75%    Company's procurement in the current
                                                                                period.
                                                                                                                In RMB
                                                      CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
         Item               Current period    Amount at the
                                                                     Changes
                                              same period of                                 Reasons of changes
                                                                      ratio
                                                 last year
                                                                                  Mainly due to the payment of the waste
                                                                                  electrical and electronic products disposal
Tax and extras              26,505,967.26      39,314,902.23           -32.58%    fund in the previous period, and there is
                                                                                  none of that in the current period.
                                                                                  Mainly due to the Company's recognition
Other income                30,658,322.37      11,993,948.27          155.61%     of VAT deductible income in the current
                                                                                  period
                                                                                  Mainly due to the decrease in investment
                                                                                  income obtained from the disposal of
Investment earnings            4,806,025.95    11,296,852.87           -57.46%    trading financial assets by the Company
                                                                                  during the current period
                                                                                  Mainly due to the non cancelable orders
Gains on changes in
fair value
                            -36,212,338.39         1,581,886.04    -2,389.19%     and change of the fair value of forward
                                                                                  foreign exchange contract changes
                                                                                  Mainly due to the reversal of the
Credit impairment loss         1,826,872.78   -15,886,816.82          -111.50%    Company's bad debt provision in the
                                                                                  current period
                                                                                  Mainly due to the decrease in liquidated
Non-operating income            842,845.67         5,645,604.54        -85.07%    damages received by the Company during
                                                                                  the period
Non-operating                                                                     Mainly due to the provision of plant
expenses
                                                                                  Mainly due to the increase in income tax
                                                                                  expense due to the increase in the
Income tax expenses         20,354,739.63          7,491,433.56       171.71%     Company's taxable income in the current
                                                                                  period
                                                                                                                   In RMB
            Item                  Current period        Amount at the
                                                                            Changes
                                                      same period of last                        Reasons of changes
                                                                             ratio
                                                            year
                                                                                          Mainly due to the YOY increase
                                                                                          in export tax rebates received by
Tax refund received               256,947,465.72        119,861,984.88         114.37%    the Company during the current
                                                                                          period
                                                                                          Mainly due to the YOY decrease
Other cash received
                                                                                          in the guarantee deposit recovered
concerning operation                12,948,696.05        23,940,223.82         -45.91%    by the Company in the current
activities
                                                                                          period
                                                                                          Mainly due to the YOY decrease
 Cash received from recovery                                                              in the recovery of the Company's
of investment
                                                                                          the current period
                                                                                          Mainly due to that the Company
                                                                                          received dividends from
Cash received from absorbing
investment
                                                                                          but there is no such dividend in
                                                                                          the current period
                                                                                          Mainly due to the YOY increase
                                                                                          in the Company's purchase of
Cash paid for investments         980,000,000.00        560,000,000.00         75.00%     wealth management products and
                                                                                          large-amount certificates of
                                                                                          deposit in the current period.
                                                                                          Mainly due to the increase in
Cash received from
borrowing
                                                                                          Company during the period
Other cash received                                                                       Mainly due to the YOY decrease
concerning financing                39,855,330.30       250,646,926.33         -84.10%    in limited recovery of the
activities                                                                                Company's guarantee deposits in
                                                                  CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
                Item                      Current period            Amount at the
                                                                                          Changes
                                                                  same period of last                            Reasons of changes
                                                                                           ratio
                                                                        year
                                                                                                          the current period.
   Cash paid for dividend and                                                                             Mainly due to the YOY increase
   profit distributing or interest             6,720,779.16             4,998,050.47        34.47%        in bank interest paid by the
   paying                                                                                                 Company in the current period
                                                                                                          Mainly due to the YOY decrease
   Other cash paid concerning                                                                             in restrictions of the Company
   financing activities
                                                                                                          period
   Effect of exchange rate                                                                                Mainly due to the change of
   changes on cash
                                                -432,457.38          -11,739,344.83         96.32%        exchange rate in the Period
   II. Shareholders
   (i)Total number of common shareholders and preference shareholders with voting rights recovered and
   top ten shareholders
                                                                                                                                 In Shares
Total number of common
                                                              Total preference shareholders with voting rights recovered at
shareholders at the end of report                  42,282 end of reporting period (if applicable)                                                  0
period
                                                                  Top ten shareholders
                                                                                                                          Information of shares
                                                                                                                            pledged, tagged or
                                                                            Proportion                                            frozen
                                                           Nature of                      Amount of       Amount of lock-
              Shareholder’s name                                             of shares
                                                          shareholder                     shares held      up shares held
                                                                               held                                         State of
                                                                                                                                        Amount
                                                                                                                             share
                                                       State-owned legal
Sichuan Changhong Electric Co., Ltd.                                                                                             -            --
                                                       person                   24.12%     248,457,724                    0
                                          Overseas Legal                                                                         -            -
HKSCC                                                                            6.42%       66,131,044                   0
                                          person
Hefei Industry Investment Holding (Group) State-owned legal
Co., Ltd.                                 person
                                                       Domestic    non-
The National      Social Security Fund 101
                                                       state-owned legal         3.44%       35,423,661                   0      -            -
portfolio
                                                       person
                                                       Overseas     Legal
CHANGHONG (HK) TRADING LIMITE                                                    2.63%       27,077,797                   0      -            -
                                                       person
                                                       Overseas natural
CAOSHENGCHUN                                                                     1.43%       14,766,086                   0      -            -
                                                       person
                                        Domestic    non-
ICBC - Guangfa Jufeng hybrid securities
                                        state-owned legal                        1.36%       14,000,078                   0      -            -
investment fund
                                        person
Industrial Bank-Southern Xingrun value one- Domestic non-
year holding period of hybrid securities state-owned legal                       1.34%       13,797,353                   0      -            -
investment fund                             person
                                                       Domestic    non-
ICBC - South Excellent               Growth    Stock
                                                       state-owned legal         1.25%       12,823,000                   0      -            -
Securities Investment Fund
                                                       person
                                                              CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
                                             Domestic    non-
China Construction Bank Co., Ltd.- Jiashixin
                                             state-owned legal              1.17%        12,082,100                    0      -         -
Consumer Stock Securities Investment Fund
                                             person
                                              Top ten shareholders with unrestricted shares held
                                                                                                             Type of shares
                Shareholder’s name                      Amount of unrestricted shares held
                                                                                                      Type                    Amount
Sichuan Changhong Electric Co., Ltd.                                          248,457,724 RMB ordinary shares                     248,457,724
                                                                                          Domestically        listed
HKSCC                                                                          66,131,044 foreign shares                           66,131,044
Hefei Industry Investment Holding (Group) Co.,
Ltd.                                                                           37,923,401 RMB ordinary shares                      37,923,401
The National Social Security Fund 101 portfolio                                35,423,661 RMB ordinary shares                      35,423,661
                                                                                          Domestically        listed
CHANGHONG (HK) TRADING LIMITE                                                  27,077,797 foreign shares                           27,077,797
                                                                                          Domestically        listed
CAOSHENGCHUN                                                                   14,766,086 foreign shares                           14,766,086
ICBC - Guangfa           Jufeng   hybrid   securities
investment fund
Industrial Bank-Southern Xingrun value one-year
holding period of hybrid securities investment fund
ICBC - South Excellent Growth Stock Securities
Investment Fund
China Construction Bank Co., Ltd.- Jiashixin
Consumer Stock Securities Investment Fund                                      12,082,100 RMB ordinary shares                      12,082,100
                          Among the above shareholders, CHANGHONG (HK) TRADING LIMITED (hereinafter referred to as Hong
                          Kong Changhong) is the wholly-owned subsidiary of Sichuan Changhong Electric Co., Ltd., the foregoing
                          shareholders constitute persons of uniform action. There existed no associated relationship or belong to the
Explanation on associated concerted actors as specified in the Measures for the Administration of Information Disclosure of Shareholder
relationship among the    Equity Changes of Listed Companies among Sichuan Changhong Electric Co., Ltd, Hong Kong Changhong
aforesaid shareholders    and other top 8 shareholders, The company neither knows whether there is any association among other
                          shareholders, nor knows whether other shareholders belong to the persons acting in concert that is stipulated in
                          the “Administrative Measures on Information Disclosure of Changes in Shareholding of Listed Companies”.
Explanation on top ten
shareholders involving
                             Not applicable
margin business (if
applicable)
   Information of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10
   shareholders of unrestricted tradable shares participating in the lending of shares in securities lending and
   borrowing business
   □Applicable ?Not applicable
   The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed compared
   with the previous period due to the securities lending/returning,
   □Applicable ?Not applicable
                                                              CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
      (ii)Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end
      of the report period
      □ Applicable √Not applicable
      III. Other important matters
      √ Applicable □ Not applicable
                                                                                                         Information index for temporary
                                 Overview                                        Date for disclosure
                                                                                                                report disclosure
Through the resolution passed by the Company's board of directors, it’s
agreed that the Company shall establish an ESG management organizational
structure and set up an ESG management committee under the board of
directors of the Company, which is composed of six directors-Mr. Wu                                    Juchao
Dinggang, Mr. Zhong Ming, Mr. Zhao Qilin, Mr. Kou Huameng, Mr. Hu February 20,2024                     Website:http://www.cninfo.com.cn
Zhaogui and Ms. Mou Wen (independent directors)-of the board of directors                              (No.: 2024-004 and 2024-005)
of the Company and the chairman is Mr. Wu Dinggang, taking effect from
the date of deliberation and approval of the board of directors, and the term
of office of the above members is the same as that of the board of directors.
Through the resolution passed by the Company's board of directors, it’s
agreed that the Company will invest 88 million yuan to renovate the front-                             Juchao
end production line of refrigerators in the Hefei manufacturing base, in order                         Website:http://www.cninfo.com.cn
                                                                               February 20,2024
to enhance the Company's production and manufacturing capacity of
                                                                                                       (No.: 2024-004)
refrigerators in the Hefei base and enhance the product market
competitiveness.
Through the resolution of the board of directors of the Company, it’s agreed
that Sichuan Changhong Air Conditioning Co., Ltd., a subsidiary of the
Company, will invest 100 million yuan by its own funds to establish a                                  Juchao
wholly-owned subsidiary, Sichuan Changhong Air Conditioning Intelligent
                                                                              March 15,2024            Website:http://www.cninfo.com.cn
Home Appliance Technology Co., Ltd. (tentative name, subject to industrial
                                                                                                       (No.: 2024-006)
and commercial approval), to engage in related business with the
manufacturing and sales of variable frequency drive control boards in the air
conditioning industry (including special air conditioners) as the core.
Through the resolution of the Company's board of directors and supervisory
board, it’s agreed to the 2023 profit distribution plan of the Company. Based                          Juchao
on the total share capital of 1,029,923,715 shares as of December 31, 2023, a                          Website:http://www.cninfo.com.cn
cash dividend of 3 yuan (including tax) will be distributed to all shareholders March 30,2024
                                                                                                       (No.: 2024-007, 2024-008 and 2024-
for every 10 shares, without bonus shares or conversion of reserve funds into
share capital. It’s expected to distribute a cash dividend of 308,977,114.50                           010)
yuan(including tax).
Through the resolution of the Company's board of directors, it’s agreed to
                                                                                                       Juchao
appoint Pan-China Certified Public Accounts (LLP) as the auditing agency
                                                                             March 30,2024             Website:http://www.cninfo.com.cn
for the Company's 2024 financial report and internal control, with a term of
                                                                                                       (No.: 2024-007 and 2024-011)
one year.
Through the resolution of the Company's board of directors and supervisory                             Juchao
board, it’s agreed that the subsidiary of the Company, Hefei Meiling                                   Website:http://www.cninfo.com.cn
                                                                            March 30,2024
Nonferrous Metal Products Co., Ltd., will write off a total of 3,092,614.56                            (No.: 2024-007, 2024-008 and 2024-
yuan in bad debts of part accounts receivable that cannot be recovered.                                012)
Through the resolution of the board of directors of the Company, it’s agreed
that the Company and its subsidiaries will carry out forward foreign
exchange fund trading business from July 1, 2024 to June 30, 2025, with a                              Juchao
transaction balance not exceeding 1.199 billion US dollars (mainly including March 30,2024             Website:http://www.cninfo.com.cn
US dollars, Australian dollars, Euros, and all other foreign currencies                                (No.: 2024-007 and 2024-013)
converted into US dollars), and the delivery period of a single transaction
shall not exceed one year.
Through the resolution of the Company's board of directors and supervisory                             Juchao
board, it’s agreed to the Company’s formulated "Shareholders' Return Plan March 30,2024                Website:http://www.cninfo.com.cn
for the Next Three Years (2021-2023) by the Company".                                                  (No.: 2024-007 and 2024-008)
                                                            CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
                                                                                                      Information index for temporary
                                   Overview                                   Date for disclosure
                                                                                                             report disclosure
Through the resolution of the Company's board of directors and supervisory
board, it’s agreed that the Company will increase the expected amount of no
more than 1,138 million yuan (excluding tax) of routine related party
transactions including purchase of raw materials and commodities between                            Juchao
the Company and its subsidiaries and Sichuan Changhong Electronic Holding
                                                                             March 30,2024          Website:http://www.cninfo.com.cn
Group Co., Ltd. in 2024. After this increase, it’s expected that the total
                                                                                                    (No.: 2024-007 and 2024-008)
amount of routine related party transactions between the Company and its
subsidiaries and Sichuan Changhong Electronic Holding Group Co., Ltd.,
including purchasing goods, receiving services, and leasing, will not exceed
Through the resolution of the board of directors of the Company, it’s agreed
that the Company and its subsidiaries can apply for a special line of up to                         Juchao
RMB 400 million for the bill pool to the Hefei Branch of Industrial Bank March 30,2024              Website:http://www.cninfo.com.cn
Co., Ltd; and apply to Hefei Branch Ping An Bank Co., Ltd. for a special                            (No.: 2024-007 and 2024-015)
credit line of up to RMB 500 million for the bill pool.
      IV. Quarterly financial statements
      (i) Financial statement
      Prepared by Changhong Meiling Co., Ltd.
                                                                                                                         In RMB
                           Item                                 Ending balance                         Opening balance
       Current assets:
            Monetary fund
            Settlement provisions
            Capital lent
            Trading financial assets
            Derivative financial assets
            Note receivable
            Account receivable
            Receivable financing
            Account paid in advance
            Insurance receivable
            Reinsurance receivables
       Contract reserve of reinsurance receivable
            Other account receivable
       Including: Interest receivable
            Dividend receivable
                                           CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
Buying back the sale of financial assets
     Inventory
     Contract assets
     Assets held for sale
Non-current asset due within one year
     Other current assets
Total current assets
Non-current assets:
  Loans and payments on behalf
  Creditor's rights investment                        624,913,378.80                    420,537,485.54
  Other Creditor's rights investment
Long-term account receivable
Long-term equity investment
Investment in other equity instrument
Other non-current financial assets
     Investment real estate
     Fixed assets
     Construction in progress
     Productive biological asset
     Oil and gas asset
     Right-of-use assets
     Intangible assets
Expense on research and development
     Goodwill
Long-term expenses to be apportioned
     Deferred income tax asset
     Other non-current assets
Total non-current asset
Total assets
Current liabilities:
     Short-term loans                              1,247,208,244.26                   1,134,102,419.03
     Loan from central bank
     Capital borrowed
     Trading financial liability
                                              CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
     Derivative financial liability
     Note payable
     Account payable
     Accounts received in advance
     Contract liabilities
     Selling financial asset of repurchase
Absorbing deposit and interbank deposit
     Security trading of agency
     Security sales of agency
     Wage payable
     Taxes payable
     Other account payable
Including: Interest payable
  Dividend payable
Commission charge and commission
payable
     Reinsurance payable
     Liability held for sale
Non-current liabilities due within one year
  Other current liabilities
Total current liabilities
Non-current liabilities:
     Insurance contract reserve
     Long-term loans
     Bonds payable
Including: Preferred stock
Perpetual capital securities
     Lease liability
     Long-term account payable
     Long-term wages payable
     Accrual liability
     Deferred income
     Deferred income tax liabilities
     Other non-current liabilities
                                                CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
 Total non-current liabilities
 Total liabilities
 Owner’s equity:
      Share capital
      Other equity instrument
 Including: Preferred stock
 Perpetual capital securities
      Capital public reserve
      Less: Treasury shares
   Other comprehensive income                               -21,170,679.74                   -20,704,362.05
   Special reserve                                           12,196,535.23                    11,246,811.91
      Surplus public reserve
      Provision of general risk
      Retained profit
 Total owner’ s equity attributable to parent
 company                                                5,980,802,290.29                   5,824,782,654.09
      Minority interests
 Total owner’ s equity
 Total liabilities and owner’ s equity
Legal Representative: Wu Dinggang
Person in charge of accounting works: Pang Haitao
Person in charge of accounting institute: Yang Jun
                                                                                                   In RMB
                                  Item                               Current period          Last period
 I. Total operating income
      Including: Operating income
      Interest income
      Insurance gained
   Commission charge and commission income
 II. Total operating cost
      Including: Operating cost
      Interest expense
                                                         CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
  Commission charge and commission expense
    Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Tax and extras
Sales expense
Administrative expense
  R&D expense
  Financial expenses
                                                                                 -41,837,399.95       -38,818,897.38
  Including: Interest expenses
  Interest income
  Add: other income
Investment income
Including: Investment income on affiliated company and joint
venture                                                                            6,580,724.07         6,156,271.45
The termination of income recognition for financial assets
measured by amortized cost                                                          -589,721.74        -2,610,734.55
Exchange income
Net exposure hedging income
Income from change of fair value
                                                                                 -36,212,338.39         1,581,886.04
Loss of credit impairment
Losses of devaluation of asset (
                                                                                 -10,212,156.71       -12,758,737.76
Income from assets disposal
III. Operating profit (Loss is listed with “-”)
  Add: Non-operating income
  Less: Non-operating expense
IV. Total profit (Loss is listed with “-”)
  Less: Income tax expense
V. Net profit (Net loss is listed with “-”)
   (i) Classify by business continuity
”)
                                                          CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
    (ii) Classify by ownership
 VI. Net after-tax of other comprehensive income
                                                                                     -444,448.87         1,054,218.75
   Net after-tax of other comprehensive income attributable to
 owners of parent company                                                            -466,317.69           812,237.88
  (i) Other comprehensive income items which will not be
 reclassified subsequently to profit of loss
 transfer to gain/loss
  (ii) Other comprehensive income items which will be reclassified
 subsequently to profit or loss                                                      -466,317.69           812,237.88
 transfer to gain/loss
 income
 financial statements                                                                -466,317.69           812,237.88
 Net after-tax of other comprehensive income attributable to
 minority shareholders                                                                 21,868.82           241,980.87
 VII. Total comprehensive income
 Total comprehensive income attributable to owners of parent
 Company                                                                         155,069,912.88        123,352,588.98
 Total comprehensive income attributable to minority shareholders
 VIII. Earnings per share:
 (i) Basic earnings per share                                                             0.1510               0.1190
 (ii) Diluted earnings per share                                                          0.1510               0.1190
Enterprise combine under the same control in the Period, the combined party realized net profit of 0.00 Yuan
before combination, and realized 0.00 Yuan at last period for combined party.
Legal Representative: Wu Dinggang
                                                          CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
Person in charge of accounting works: Pang Haitao
Person in charge of accounting institute: Yang Jun
                                                                                                              In RMB
                                      Item                                      Current period         Last period
 I. Cash flows arising from operating activities:
 Cash received from selling commodities and providing labor services
 Net increase of customer deposit and interbank deposit
 Net increase of loan from central bank
 Net increase of capital borrowed from other financial institution
 Cash received from original insurance contract fee
 Net cash received from reinsurance business
 Net increase of insured savings and investment
 Cash received from interest, commission charge and commission
 Net increase of capital borrowed
 Net increase of returned business capital
 Net cash received by agents in sale and purchase of securities
 Write-back of tax received
 Other cash received concerning operating activities
 Subtotal of cash inflow arising from operating activities
 Cash paid for purchasing commodities and receiving labor service
 Net increase of customer loans and advances
      Net increase of deposits in central bank and interbank
 Cash paid for original insurance contract compensation
 Net increase of capital lent
 Cash paid for interest, commission charge and commission
 Cash paid for bonus of guarantee slip
 Cash paid to/for staff and workers
 Taxes paid
 Other cash paid concerning operating activities
 Subtotal of cash outflow arising from operating activities
 Net cash flows arising from operating activities
                                                                                 -114,083,183.60        -372,008,676.48
 II. Cash flows arising from investing activities:
                                                         CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
 Cash received from recovering investment
 Cash received from investment income
 Net cash received from disposal of fixed, intangible and other long-term
 assets                                                                               95,000.00             114,445.00
 Net cash received from disposal of subsidiaries and other units
 Other cash received concerning investing activities
 Subtotal of cash inflow from investing activities
 Cash paid for purchasing fixed, intangible and other long-term assets
 Cash paid for investment
 Net increase of mortgaged loans
 Net cash received from subsidiaries and other units obtained
 Other cash paid concerning investing activities
 Subtotal of cash outflow from investing activities
 Net cash flows arising from investing activities
                                                                                -894,256,249.92        -413,578,360.98
 III. Cash flows arising from financing activities
 Cash received from absorbing investment
 Including: Cash received from absorbing minority shareholders’ investment
 by subsidiaries
 Cash received from loans
 Other cash received concerning financing activities
 Subtotal of cash inflow from financing activities
 Cash paid for settling debts
 Cash paid for dividend and profit distributing or interest paying
 Including: Dividend and profit of minority shareholder paid by subsidiaries
 Other cash paid concerning financing activities
 Subtotal of cash outflow from financing activities
 Net cash flows arising from financing activities
 IV. Influence on cash and cash equivalents due to fluctuation in exchange
 rate                                                                               -432,457.38          -11,739,344.83
 V. Net increase of cash and cash equivalents
                                                                                -884,903,693.31        -783,569,107.27
 Add: Balance of cash and cash equivalents at the period-begin
 VI. Balance of cash and cash equivalents at the period-end
Legal Representative: Wu Dinggang
Person in charge of accounting works: Pang Haitao
Person in charge of accounting institute: Yang Jun
                                              CHANGHONG MEILING CO., LTD.THE FIRST QUARTERLY REPORT OF 2024
(ii)The Company started implementing the updated accounting standards commencing from 2024
and adjusted the relevant items in the financial statements at the beginning of the very year involved
in the initial implementation of the said standards
□Applicable √Not applicable
(iii) Audit report
Whether the First quarterly report has been audited or not
□Yes √ No
The First quarterly report of the Company has not been audited.
                                                           Board of Directors of Changhong Meiling Co., Ltd.
                                                                                              April 20, 2024

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