Summary of 2026 Semi-Annual Report of CHANGHONG MEILING CO., LTD.
Stock Code: 000521, 200521 Stock Abbreviation: Changhong Meiling, Changhong Meiling B Announcement No.: 2026-046
Summary of 2026 Semi-Annual Report of CHANGHONG
MEILING CO., LTD.
I. Important Notice
(I) This summary of semi-annual report is extracted from the full text of the semi-annual
report. To fully understand the operating results, financial position and future development
plan of the Company, investors shall carefully read the full semi-annual report published on
the designated media of the China Securities Regulatory Commission.
(II) No director or senior management of the Company has stated that they are unable to
guarantee or have objections to the authenticity, accuracy and completeness of the contents
of this semi-annual report.
(III) All directors attended the Board meeting for deliberating this report via on-site
participation combined with remote communication.
(IV) Modified audit opinions notes
□ Applicable √ Not applicable
(V) Profit distribution pre-plan or capital reserve capitalization pre-plan deliberated by the
board of directors in 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.
(VI) Profit distribution pre-plan of preferred stock deliberated and approved by the Board
in the reporting period
□ Applicable √ Not applicable
Summary of 2026 Semi-Annual Report of CHANGHONG MEILING CO., LTD.
II. Basic Information of the Company
(I) Company profile
Changhong Meiling,
Short form of the stock Stock code 000521, 200521
Hongmeiling B
Stock exchange for listing Shenzhen Stock Exchange
Short form of the stock after
Not applicable
changed (if applicable)
Person/way to contact Board Secretary Securities Affairs Representative
Name Yang Liuxu Xiao Li
No. 2163, Lianhua Road, Economic and No. 2163, Lianhua Road, Economic and
Office address
Technological Development Zone, Hefei Technological Development Zone, Hefei
Tel. 0551-62219021 0551-62219021
E-mail address liuxu.yang@meiling.com li.xiao@meiling.com
(II) Main accounting data and financial indexes
Does it have retroactive adjustment or re-statement on previous accounting data?
□ Yes No
Corresponding prior Change compared to the
Reporting period
period same period of last year
Operating revenue (RMB) 16,136,185,712.66 18,071,515,842.15 -10.71%
Net profit attributable to shareholders of
the listed company (RMB)
Net profit attributable to shareholders of
the listed company after deducting non- -8,961,122.19 391,047,124.53 -102.29%
recurring gains and losses (RMB)
Net cash flows generated from operating
activities (RMB)
Basic earnings per share (RMB/share) 0.0574 0.4051 -85.83%
Diluted earnings per share (RMB/share) 0.0574 0.4051 -85.83%
Decreased by 5.68 percentage
Weighted average return on net assets 0.95% 6.63%
points
End of the reporting Change compared to end of
End of last year
period last year
Total assets (RMB) 27,292,583,494.04 22,302,792,548.16 22.37%
Net assets attributable to shareholder of
listed company (RMB)
(III) Number of shareholders and shareholding
Unit: Shares
Total number of ordinary Total number of preferred
shareholders at the end of the shareholders with restored
Summary of 2026 Semi-Annual Report of CHANGHONG MEILING CO., LTD.
reporting period voting rights at the end of
the reporting period (if
any)
Shareholdings of the top 10 shareholders
Number of Pledge, marking
Sharehol shares or freezing status
Nature of Number of
Name of shareholder ding subject to
shareholders shares held Status of Numbe
ratio restricted
shares r
conditions
State-owned
Sichuan Changhong Electric Co., Ltd. 24.12% 248,457,724 0 — —
legal person
Hong Kong Securities Clearing Company Overseas legal
Limited person
Overseas legal
CHANGHONG (HK) TRADING LIMITED 2.63% 27,077,797 0 — —
person
Hefei Industry Investment Holding (Group) State-owned
Co., Ltd. legal person
Overseas
CAO SHENGCHUN 1.43% 14,766,086 0 — —
natural person
Domestic
Wang Jialing 1.18% 12,200,018 0 — —
natural person
Domestic non-
Bank of China Co., Ltd. – Bosera CSI
state-owned 1.16% 11,926,602 0 — —
Dividend Low Volatility 100 ETF
legal person
Domestic
# Li Tao 0.92% 9,500,000 0 — —
natural person
Bank of Communications Co., Ltd. – Domestic non-
Invesco Great Wall CSI Dividend Low state-owned 0.92% 9,492,300 0 — —
Volatility 100 ETF legal person
Guotai Haitong Securities Co., Ltd. – Domestic non-
Tianhong CSI Dividend Low Volatility 100 state-owned 0.88% 9,048,300 0 — —
ETF legal person
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
Explanation of related-party relationships or 6,296,913 B shares of the Company through Phillip Securities (Hong Kong)
acting-in-concert arrangements among the Limited. Sichuan Changhong and Hong Kong Changhong have a related party
above shareholders 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.
Description of shareholders participating in
margin financing and securities lending N/A
business (if any)
Summary of 2026 Semi-Annual Report of CHANGHONG MEILING CO., LTD.
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
□ Applicable √ Not applicable
(IV) Changes in controlling shareholder or actual controller
□ Applicable √ Not applicable
There were no changes to the Company’s controlling shareholder during the reporting period.
□ Applicable √ Not applicable
There were no changes to the Company’s actual controller during the reporting period.
(V) Total number of preference shareholders of the Company and shareholdings of the top
□ Applicable √ Not applicable
The Company had no preference shareholders during the reporting period.
(VI) Status of bonds outstanding as at the date of approval and disclosure of the semi-
annual report
□ Applicable √ Not applicable
III. Important Events
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).
Summary of 2026 Semi-Annual Report of CHANGHONG MEILING CO., LTD.
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
Journal, and Juchao Website (www.cninfo.com.cn).
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-
Securities Times, China Securities Journal, and Juchao Website (www.cninfo.com.cn).
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,
and Juchao Website (www.cninfo.com.cn).
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
Summary of 2026 Semi-Annual Report of CHANGHONG MEILING CO., LTD.
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,
and Juchao Website (www.cninfo.com.cn).
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 1,007,348,217 shares of the
Company’s total share capital excluding 22,575,498 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 211,543,125.57
(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.
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.
Securities Times, China Securities Journal and Juchao Website (www.cninfo.com.cn) on April 3,
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
Summary of 2026 Semi-Annual Report of CHANGHONG MEILING CO., LTD.
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,
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
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,
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-
Securities Journal and Juchao Website (www.cninfo.com.cn) on April 3, 2026 and June 8, 2026.
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,
designated information disclosure media, including Securities Times, China Securities Journal,
and CNINFO (www.cninfo.com.cn)
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)..
Summary of 2026 Semi-Annual Report of CHANGHONG MEILING CO., LTD.
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.
Changhong Meiling Co., Ltd.
Chairman: Li Xiaodong
August 20, 2026
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