CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
Stock code: 000521, 200521 Notice No.: 2022-080
short form of the stock:Changhong Meiling, Hongmeiling B
CHANGHONG MEILING CO., LTD.
THE THIRD QUARTERLY REPORT FOR 2022
The Company and whole members of the BOD guarantee that the information disclosed is true,
accurate and complete, and there are no any fictitious records, misleading statements or important
omissions.
Important content reminder:
1. Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of
Changhong Meiling Co., Ltd. (hereinafter referred to as the Company) hereby confirm that there are
no any fictitious statements, misleading statements, or important omissions carried in this report,
and shall take all responsibilities, individual and/or joint, for the reality, accuracy and completion of
the whole contents.
2. Principal of the Company, Person in Charge of Accounting Works and Person in Charge of
Accounting Organ (Accounting Officer) hereby confirm that the Financial Report of the Third
Quarterly Report is authentic, accurate and complete.
3. Whether the Third Quarterly Report has been audited or not
□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
Increase/decrease from
Increase/decrease in
year-begin to period-
the period compared Year-begin to period-
Current period end compared with the
with the same period of end
same period of the
the previous year
previous year
Operating income
5,150,870,767.54 19.45% 15,375,374,318.73 10.49%
(Yuan)
Net profit attributable
to shareholders of the 101,823,245.05 305.63% 162,198,444.30 160.52%
listed company (Yuan)
Net profit attributable
to shareholders of the 74,277,789.36 7,406.25% 78,385,258.27 221.40%
listed company after
1
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
deducting non-
recurring gains and
losses (Yuan)
Net cash flow arising
from operating 1,839,226,386.84 1,095.63%
activities (Yuan)
Basic earnings per
0.0989 312.08% 0.1567 162.92%
share (Yuan /Share)
Diluted earnings per
0.0989 312.08% 0.1567 162.92%
share (Yuan /Share)
Weighted average ROE Increase by 1.56 Increase by 2.03
2.08% 3.31%
percentage points percentage points
Increase/decrease at the period-end compared
End of previous year
with the end of the previous year
Total assets (Yuan) 17,582,381,359.13 15,190,469,756.33 15.75%
Net assets attributable
to shareholder of listed 4,947,965,824.13 4,837,334,400.21 2.29%
company (Yuan)
(ii) Items and amounts of non-recurring profit (gains)/losses
√ Applicable □ Not applicable
Unit: Yuan
Amount from
Amount for the
Item year-begin to Note
period
period-end
Gains/losses from the disposal of non-current asset
Found more in “Income
(including the write-off that accrued for impairment of 1,294,425.92 9,653,201.02
from assets disposal”
assets)
Government subsidy recorded in current gains/losses
(except those closely related to the Company’s normal
Found more in “Other
operation, and those continuously enjoyed on a fixed or 24,292,688.88 65,636,383.36
income”
quantitative basis with certain standards in accordance
with national policy regulations)
Losses/gains from changes of fair values occurred in
holding trading financial assets and trading financial
Found more in “Income
liabilities, and investment income obtaining from the
6,802,233.26 19,975,149.91 from fair value changes”
disposal of trading financial assets and trading financial
and “Investment income”
liability, excluded effective hedging business relevant
with normal operations of the Company
Reversal of the account receivable depreciation Found more in “Account
- 714,463.58
reserves subject to separate impairment test receivable”
Other non-operating income and expenses other than Found more in “Non-
2,257,007.55 2,834,934.51
the above operation income” and
2
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
“Non-operation
expenditure”
Less: impact on income tax 4,359,875.00 10,686,897.61
Impact on minority shareholders’ equity (post-tax) 2,741,024.92 4,314,048.74
Total 27,545,455.69 83,813,186.03 --
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
□ Applicable √ Not applicable
The Company does not have other gain/loss items that qualified the definition of non-recurring profit
(gains)/losses
Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure
for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring
gain/loss
□ Applicable √ Not applicable
The Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information
Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as
recurring gain/loss
(iii) Particulars about changes in items of main accounting data and financial index and
explanations of reasons
√ Applicable □Not applicable
1. Changes and reasons of items in balance sheet
Unit: Yuan
Prior year-end Changes
Item Ending balance Reasons of changes
balance ratio
Mainly due to the financial products purchased by the
Trading financial assets 341,834,121.47 17,997,086.19 1,799.39%
Company in current period.
Mainly due to the notes receivable due for remittance
Notes receivable - 2,216,752.22 -100.00%
in the current period.
Mainly due to the increase in production in the current
Inventory 1,951,569,411.95 1,356,357,419.80 43.88%
period
Mainly due to the increase in project warranty in the
Contractual assets 2,713,272.58 - -
current period
Mainly due to the increase in time deposits in the
Other current assets 351,336,094.19 124,240,934.45 182.79%
current period
Mainly due to the new large deposit certificates in the
Debt investment 291,494,430.56 - -
current period
Mainly due to the increased investment of R&D in the
Development expenses 124,736,170.71 87,728,990.86 42.18%
current period
Mainly due to the construction of leased premises in
Long-term amortization 839,996.06 - -
the current period
Mainly due to the decrease in prepaid work in the
Other non-current assets 1,151,729.02 3,087,780.59 -62.70%
current period
Mainly due to the increase in bank borrowings in the
Short-term loan 1,103,339,807.26 622,874,652.77 77.14%
current period
3
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
Mainly due to the non-cancelable orders and change
Trading financial
79,358,264.39 12,304,272.41 544.97% of the valuation from forward foreign exchange
liabilities
contracts
Account payable 3,615,327,973.23 2,299,103,796.88 57.25% Mainly due to the increase in payable for purchases
Taxes payable 78,042,854.94 141,874,861.88 -44.99% Mainly due to the payment of VAT
Mainly due to the increase in accrued expenses and
Other account payable 1,332,482,287.29 751,452,768.00 77.32%
proceeds
Non-current liability due Mainly due to the repayment of long-term loans due
30,566,132.26 332,718,478.25 -90.81%
within one year within one year
Treasury shares - 26,430,571.38 -100.00% Mainly due to the cancellation of treasury shares
2. Changes and reasons of items in profit statement
Unit: Yuan
Amount at the
Amount at the
Item same period of Changes ratio Reasons of changes
period
previous year
Financial expenses -79,277,613.98 -35,552,769.58 -122.99% Mainly due to the y-o-y declined in interest expenses
Income from fair value Mainly due to the non-cancelable orders and change
changes 6,783,043.30 -28,310,289.03 123.96% of the fair value of forward foreign exchange
contracts
Investment income Mainly due to the y-o-y decrease in forward foreign
19,970,558.55 80,853,371.21 -75.30%
exchange contract delivery gains
Income from assets Mainly due to the income on assets disposal
disposal 9,653,201.02 -249,004.26 3,976.72%
increased on a y-o-y basis
Credit impairment loss Mainly due to the y-o-y increase in impairment loss
-61,885,204.97 -21,358,115.43 189.75%
from account receivable
Non-operation Mainly due to the increase in donation expenses in
expenditure 4,890,597.15 2,003,084.43 144.15%
the current period
Income tax expenses The decrease in income tax expenses due to the
-9,091,804.45 29,394,642.88 -130.93%
declined in taxable income
3. Changes and reasons of items in cash flow statement
Unit: Yuan
Amount at the same
Amount at the Changes
Item period of previous Reasons of changes
period ratio
year
Other cash received The margin restricted reversal in the current
172,312,892.42 117,355,922.31 46.83%
concerning operation activities period
The VAT paid in the Period increased on a y-o-y
Taxes paid 429,330,130.27 297,701,677.67 44.21%
basis
Cash received from recovering Mainly due to the y-o-y decrease in recovery of
323,322,268.35 1,420,000,000.00 -77.23%
investment the wealth management products
Cash received from Bonus from affiliated enterprise and Hongyun
34,407,108.44 23,968,192.46 43.55%
investment income Funds received in the Period
Net cash received from
disposal of fixed, intangible 16,653,271.93 1,290,668.56 1,190.28% Asset disposal increased on a y-o-y basis
and other long-term assets
1,150,000,000. Purchase of wealth products declined on a y-o-y
Cash paid for investments 1,799,000,000.00 -36.08%
00 basis
Other cash paid concerning Not Mainly due to the loss of foreign exchange
66,344,241.47 58,411.60
investing activities applicable investment in the Period
4
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
Cash received from absorbing The fund-raising are collected by subsidiary
368,459,272.52 15,000,000.00 2,356.40%
investment Zhongke Meiling in the Period
The loans received in the Period declined from a
Cash received from borrowing 868,040,918.37 1,293,560,455.26 -32.90%
year earlier
Other cash received Mainly due to the discounting bill of related
11,404,482.95 5,986,105.14 90.52%
concerning financing activities parties
Cash paid for debt repayment 695,000,000.00 1,674,330,870.00 -58.49% The refunds declined on a y-o-y basis
Other cash paid concerning
869,994,470.14 15,403,414.62 5,548.06% Mainly due to the margin limitation in the Period
financing activities
Influence on cash and cash
Mainly due to the change of exchange rate in the
equivalents due to fluctuation 47,997,201.13 24,846,222.17 93.18%
Period
in exchange rate
II. Shareholders Information
(i) Total number of common shareholders and preference shareholders with voting rights
recovered and top ten common shareholders
Unit: Share
Total preference shareholders
Total common shareholders at end of with voting rights recovered at
72,828 0
the Period end of reporting period (if
applicable)
Top ten shareholders
Information of shares
Proportion Amount of pledged, tagged or
Nature of Amount of
Shareholder’s name of shares restricted frozen
shareholder shares held
held shares held State of
Amount
share
State-owned legal
Sichuan Changhong Electric Co., Ltd. 24.12% 248,457,724 0 - --
person
Hefei Industrial Investment Holding (Group) Co., State-owned legal
4.64% 47,823,401 0 - -
Ltd. person
CHANGHONG (HK) TRADING LIMITED Foreign legal person 2.63% 27,077,797 0 - -
CAOSHENGCHUN Foreign natural
1.43% 14,766,086 0 - -
person
Xu Aiyun Domestic natural
1.36% 14,038,100 0 - -
person
Caitong Fund- Ningbo Bank-Haitong Xingtai
Domestic non-state-
(Anhui) Emerging Industry Investment Fund 1.04% 10,733,452 0 - -
owned legal person
(Limited Partnership)
Wang Xinzhong Domestic natural
0.94% 9,679,840 0 - -
person
Ren Fenhua Domestic natural
0.73% 7,543,000 0 - -
person
Ma Guobin Domestic natural 0.67% 6,917,600 0 - -
5
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
person
Wang Kai Domestic natural
0.62% 6,378,892 0 - -
person
Particular about top ten shareholders with un-restrict shares held
Amount of Type of shares
Shareholders’ name unrestricted
Type Amount
shares held
RMB ordinary
Sichuan Changhong Electric Co., Ltd. 248,457,724 248,457,724
shares
RMB ordinary
Hefei Industrial Investment Holding (Group) Co., Ltd. 47,823,401 47,823,401
shares
Domestically listed
CHANGHONG (HK) TRADING LIMITED 27,077,797 27,077,797
foreign shares
Domestically listed
CAO SHENGCHUN 14,766,086 14,766,086
foreign shares
Xu Aiyun RMB ordinary
14,038,100 14,038,100
shares
Caitong Fund- Ningbo Bank-Haitong Xingtai (Anhui) Emerging Industry RMB ordinary
10,733,452 10,733,452
Investment Fund (Limited Partnership) shares
Wang Xinzhong RMB ordinary
9,679,840 9,679,840
shares
Ren Fenhua RMB ordinary
7,543,000 7,543,000
shares
Ma Guobin RMB ordinary
6,917,600 6,917,600
shares
Wang Kai RMB ordinary
6,378,892 6,378,892
shares
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.; There existed no
associated relationship or belong to the concerted actors as specified in the Measures for the Administration of
Explanation on associated Information Disclosure of Shareholder Equity Changes of Listed Companies among Sichuan Changhong,
relationship or consistent Hong Kong Changhong and other top 8 shareholders; “Caitong Fund- Ningbo Bank-Haitong Xingtai (Anhui)
actors among the aforesaid Emerging Industry Investment Fund (Limited Partnership)” refers to the products of Caitong Fund
shareholders Management Company subscribe for privately placement of 2016; 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 Measures for the Administration of Information Disclosure of
Shareholder Equity Changes of Listed Companies.
As of Sept. 30, 2022, among the top 10 common shareholders, the shareholder-Wang Xinzhong holds
9,679,840 shares of the Company through customer credit trading secured account of Guojin Securities Co.,
Explanation on top ten
Ltd., thus 9,679,840 shares of the Company are held in total. The shareholder-Ma Guobin holds 6,916,700
common shareholders
shares of the Company through customer credit trading secured account of Founder Securities Co., Ltd., and
involving margin business
900 shares hold through common securities account, thus 6,917,600 shares of the Company are held in total.
(if applicable)
The shareholder-Wang Kai holds 6,378,892 shares of the Company through customer credit trading secured
account of Guojin Securities Co., Ltd., thus 6,378,892 shares of the Company are held in total.
6
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
(ii) Total shareholders with preferred stock held and shares held by top ten shareholders
with preferred stock held
□ Applicable √ Not applicable
III. Other significant events
√ Applicable □Not applicable
Information index for temporary report
Overview Date for disclosure
disclosure
On March 2, 2022, the cancellation of 14,674,166 shares of domestically
listed foreign shares (B-stock) repurchased was completed at the Shenzhen Juchao Website:
Branch of CSDC. Total share capital of the Company was reduced from 2022-3-4 http://www.cninfo.com.cn
1,044,597,881 shares to 1,029,923,715 shares upon the completion of (No. 2022-011)
cancellation.
The Company agrees to renew the Shine Wing Certified Public Accountants
(LLP) as the auditing institution of the financial report and internal control of
Juchao Website:
the Company for the year of 2022, upon the approval by the Board and
2022-3-31 http://www.cninfo.com.cn
Shareholders General Meeting. At the same time, submit to the Shareholders
2022-4-29 (No. 2022-012, No. 2022-016 and No.
General Meeting for authorization, management of the Company was
2022-033)
deputed to determining their annual remuneration in line with the industry
standards and actual condition of the auditing works of the Company.
The Company agrees to changed the relevant accounting policies pursuit to Juchao Website:
the Q&A with ASBE Concerned issued by The Accounting Regulatory Dept. 2022-3-31 http://www.cninfo.com.cn
Of Ministry of Finance, upon the approval by the BOD, BOS and 2022-4-29 (No. 2022-012, No. 2022-013, No.
Shareholders General Meeting. 2022-017 and No. 2022-033)
Upon the resolution approved by the BOD and Shareholders General
Meeting, it agreed that the Company and its subsidiaries shall carry out
Juchao Website:
forward foreign exchange fund trading business during the period from 1 July
2022-3-31 http://www.cninfo.com.cn
2022 to 30 June 2023. Balance of trading not exceeding US$ 825 million
2022-4-29 (No. 2022-012, No. 2022-019 and No.
(mainly including USD, AUD, EUR and other foreign exchange converted to
2022-033)
USD), and the maximum period of delivery of a single business shall not
exceed one year.
Upon the resolution approved by the BOD and Shareholders General
Meeting, it agreed that the controlling subsidiary-Zhongke Meiling
Juchao Website:
Cryogenic Technology Co., Ltd.(hereinafter referred to as Zhongke Meiling)
2022-3-31 http://www.cninfo.com.cn
shall donate scholarships totaling no more than 5.65 million yuan to 11 well-
2022-4-29 (No. 2022-012, No. 2022-021 and No.
known domestic universities within 10 years, which will be used to support
2022-033)
the development of college education and enhance the brand reputation,
social image and influence of the company and its subsidiaries.
According to the resolutions approved by the BOD, BOS and Shareholders Juchao Website:
2022-3-31
General Meeting, it was agreed that the company would complete the http://www.cninfo.com.cn
2022-4-29
"intelligent R&D management platform construction", a sub-project of the (No. 2022-012, No. 2022-013, No.
7
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
remaining fundraising projects "intelligent manufacturing construction 2022-022 and No. 2022-033)
project" and "intelligent R&D project". The amount of the surplus raised
funds in the completion of the fundraising project was 45,665,621.17 yuan,
which was wealth management income and deposit interest income. The
above-mentioned surplus of raised funds is mainly due to the interest income
generated from financial management and deposits during the depositing
period of idle raised funds. All of the fund-raising projects of the Company
have been completed so far.
According to the resolutions approved by the BOD, it was agreed that the
Company invested 10.45 million yuan for the technical transformation of
Juchao Website:
front-end production line in Hefei refrigerator base to enhance the front-end
2022-3-31 http://www.cninfo.com.cn
manufacturing capability in refrigerators, accomplish the cost reduction and
(No. 2022-012)
efficiency improvement to meet the production demand of refrigerator
products.
According to the resolutions approved by the BOD and Shareholders General
Meeting, it was agreed that the company and its subsidiaries apply to
Juchao Website:
Industrial Bank Co., Ltd., Hefei Branch for a special credit line of bill pool of
2022-3-31 http://www.cninfo.com.cn
up to 400 million yuan, and applied to Ping An Bank Co., Ltd. Hefei Branch
2022-4-29 (No. 2022-012, No. 2022-023 and No.
for a special credit line of bill pool of up to 300 million yuan, and applied to
2022-033)
Jiujiang Bank Co., Ltd. Hefei Branch for a special credit line of bill pool of
up to 400 million yuan.
On April 22, 2022, the Company received a Letter of Notification of Share
Reduction from Ms. Li Xia-the secretary of the BOD of the Company. Due to
the need of Li’s own funds, within six months after 15 trading days from the
share reduction plan announced, Ms. Li Xia reduced 138,200 shares of the Juchao Website:
2022-4-25
Company at most (0.0134% of total share capital of the Company) by way of http://www.cninfo.com.cn
2022-6-7
centralized competitive bidding, shares reduction shall not exceed 25% of the (No. 2022-032 and No. 2022-041)
shares held by Ms. Li. As of June 6, 2022, Ms. Li Xia completed the
reduction of 138,200 shares aforesaid through centralized bidding trading on
Shenzhen Stock Exchange.
The “Meiling Shareholder Return Activity” was held by the Company from
May 9, 2022 to May 15, 2022 to thanks the shareholders for their concern Juchao Website:
and support for a long period, also, allows shareholders to experience new 2022-5-7 http://www.cninfo.com.cn
products and services of the Company, improve the understanding and (No. 2022-035)
recognition of the intrinsic value of the Company.
According to the resolutions approved by the BOD, agreed to proposed a
public offering of shares to unspecified qualified investors under the name of
Juchao Website:
Zhongke Meiling(controlling subsidiary of the Company) and listing on
2022-5-18 http://www.cninfo.com.cn
Beijing Stock Exchange to further improve its governance standards, enhance
(No. 2022-036 and No. 2022-038)
the capital strength, expanding influence within the industry and heighten its
overall competitiveness.
According to the resolutions approved by the BOD and Shareholders General Juchao Website:
2022-5-18
Meeting, agreed the Company to provide a domestic guarantee for http://www.cninfo.com.cn
8
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
Changhong RUBA Trading Co., Ltd to apply for a loan from local banks. 2022-6-30 (No. 2022-036, No. 2022-037 and No.
Guarantee amounted to $9 million at most, with a period of one year for the 2022-049)
operating capital turnover of Changhong RUBA Trading Company.
Meanwhile, Changhong RUBA Trading Company will provide a
corresponding counter-guarantee to the Company’s guarantee with its whole
assets.
According to the resolutions approved by the BOD and Shareholders General Juchao Website:
Meeting, agreed to amend some Clauses of the Article of Association, Rules 2022-6-14 http://www.cninfo.com.cn
of Procedure for the Shareholders General Meeting, Rules of Procedure of 2022-6-30 (No. 2022-042, No. 2022-043 and No.
the BOD and Rules of Procedure of the BOS. 2022-049)
On June 16, 2022, after the implementation of the company's share structure
reform, the thirteenth batch of tradable shares with sales restrictions was
Juchao Website:
lifted and listed for circulation. There were 4 holders of shares lifted from
2022-6-15 http://www.cninfo.com.cn
sales restrictions this time, and the number of shares lifted from sales
(No. 2022-045)
restrictions was 1,250,430 shares, accounting for 0.1214% of the company's
total share capital.
According to the resolutions approved by the BOD and BOS, it was agreed
that the company and its subsidiaries Sichuan Changhong Air-conditioner Juchao Website:
Co., Ltd invested 200 million yuan with its own funds in the establishment of http://www.cninfo.com.cn
2022-7-13
“Changhong Group Sichuan Shenwa Hongyuan Strategy New Industry (No. 2022-051, No. 2022-052 and No.
Master Fund Partnership (Limited Partnership)”, and as the limited partner of 2022-053)
the Fund.
According to the resolutions approved by the BOD and Shareholders General
Meeting, it was agreed that Zhongke Meiling (subordinate controlling Juchao Website:
subsidiary) should adjust the public offering of shares to unspecified 2022-8-3 http://www.cninfo.com.cn
qualified investors and the base price in the specific proposal for listing on 2022-8-20 (No. 2022-056, No. 2022-057 and No.
BSE, that is, adjusted from 17 Yuan / Share to 16 Yuan/ Share and agreed to 2022-066)
the above mentioned issues that adjusted .
According to the resolutions approved by the BOD, it was agreed that the
Company donate 150,000 yuan to the People’s Government of Songdian Juchao Website:
Town, Huoqiu County, Liuan City, Anhui Province for the collective 2022-8-18 http://www.cninfo.com.cn
development project in Nanbeisi Village, Songdian Town, Huoqiu County, to (No. 2022-062 and No. 2022-065)
increase jobs and grow the collective economy.
According to the resolutions approved by the BOD, it was agreed to to by- Juchao Website:
election of Mr. Zhao Qilin as the member of Strategy Committee of the 10th 2022-8-18 http://www.cninfo.com.cn
BOD of the Company. (No. 2022-062)
According to the resolutions approved by the BOD, and pursuit to the
“Amendment of Some Clauses in Articles of Association” that approved by Juchao Website:
the Shareholders General Meeting dated June 29, 2022, it was agreed to 2022-8-18 http://www.cninfo.com.cn
amended the relevant provisions of the Rules of Procedures of the President (No. 2022-062)
simultaneously.
According to the resolutions approved by the BOD, it was agreed to issue the 2022-9-7 Juchao Website:
9
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
Commitment on Trademark Licensing to its controlling subsidiary - Zhongke http://www.cninfo.com.cn
Meiling. (No. 2022-068)
According to the resolutions approved by the BOD, it was agreed the targeted
Juchao Website:
donation of one million yuan through Mianyan Charity Federation for the
2022-9-8 http://www.cninfo.com.cn
earthquake relief in Luding County and work together to help the affected
(No. 2022-069 and No. 2022-070)
people from difficulties and rebuild their homes.
On August 5, 2022, controlling subsidiary of the Company - Zhongke
Meiling obtained the approval from Listing Committee of Beijing Stock
Juchao Website:
Exchange on public offering of shares to unspecified qualified investors and 2022-8-6
http://www.cninfo.com.cn
listing on BSE; on September 16, 2022, Zhongke Meiling obtained the 2022-9-19
(No. 2022-060, No. 2022-072 and No.
registration of CSRC on public offering of shares to unspecified qualified 2022-10-14
2022-076)
investors and listing on BSE; with the consent of BSE, stock of Zhongke
Meiling are listed on Beijing Stock Exchange on October 18, 2022.
IV. Quarterly financial statements
(i) Financial statement
1. Consolidate balance sheet
Prepared by Changhong Meiling Co., Ltd.
Unit: Yuan
Item September 30, 2022 January 1, 2022
Current assets:
Monetary fund 7,252,235,741.23 5,938,823,396.21
Settlement provisions
Capital lent
Trading financial assets 341,834,121.47 17,997,086.19
Derivative financial assets
Note receivable 2,216,752.22
Account receivable 1,527,601,664.85 1,440,874,691.28
Receivable financing 1,372,633,110.61 1,808,109,301.56
Accounts paid in advance 25,415,903.50 29,766,797.34
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other account receivable 89,221,013.01 111,652,635.86
Including: Interest receivable
Dividend receivable
Buying back the sale of financial assets
Inventories 1,951,569,411.95 1,356,357,419.80
Contractual assets 2,713,272.58
10
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
Assets held for sale
Non-current asset due within one year
Other current assets 351,336,094.19 124,240,934.45
Total current assets 12,914,560,333.39 10,830,039,014.91
Non-current assets:
Loans and payments on behalf
Debt investment 291,494,430.56
Other debt investment
Long-term account receivable
Long-term equity investment 87,354,803.14 86,631,660.53
Investment in other equity instrument
Other non-current financial assets 614,418,197.15 581,980,440.70
Investment real estate 51,933,593.58 53,149,934.45
Fixed assets 2,284,525,011.88 2,303,122,699.92
Construction in progress 83,881,099.27 98,469,862.45
Productive biological asset
Oil and gas asset
Right-of-use assets 40,102,232.67 45,367,918.31
Intangible assets 908,749,065.98 953,403,100.33
Expense on Research and Development 124,736,170.71 87,728,990.86
Goodwill
Long-term expenses to be apportioned 839,996.06
Deferred income tax asset 178,634,695.72 147,488,353.28
Other non-current asset 1,151,729.02 3,087,780.59
Total non-current asset 4,667,821,025.74 4,360,430,741.42
Total assets 17,582,381,359.13 15,190,469,756.33
Current liabilities:
Short-term loans 1,103,339,807.26 622,874,652.77
Loan from central bank
Capital borrowed
Trading financial liability 79,358,264.39 12,304,272.41
Derivative financial liability
Note payable 5,144,162,829.41 4,839,837,317.78
Account payable 3,615,327,973.23 2,299,103,796.88
Accounts received in advance
Contractual liability 399,474,036.54 515,004,115.23
Selling financial asset of repurchase
Absorbing deposit and interbank
deposit
Security trading of agency
Security sales of agency
11
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
Wage payable 308,418,608.51 247,044,421.56
Taxes payable 78,042,854.94 141,874,861.88
Other account payable 1,332,482,287.29 751,452,768.00
Including: Interest payable
Dividend payable 4,978,994.16 4,753,764.56
Commission charge and commission
payable
Reinsurance payable
Liability held for sale
Non-current liabilities due within one
30,566,132.26 332,718,478.25
year
Other current liabilities 25,532,152.23 24,373,759.16
Total current liabilities 12,116,704,946.06 9,786,588,443.92
Non-current liabilities:
Insurance contract reserve
Long-term loans 158,000,000.00 168,000,000.00
Bonds payable
Including: Preferred stock
Perpetual capital securities
Lease liability 29,861,671.87 33,225,912.15
Long-term account payable 1,193,375.67 1,337,643.24
Long-term wages payable 8,603,810.39 9,828,300.06
Accrual liability 11,535,780.22 11,363,601.63
Deferred income 167,305,173.37 175,664,038.83
Deferred income tax liabilities 9,410,260.91 9,670,435.45
Other non-current liabilities
Total non-current liabilities 385,910,072.43 409,089,931.36
Total liabilities 12,502,615,018.49 10,195,678,375.28
Owner’s equity:
Share capital 1,029,923,715.00 1,044,597,881.00
Other equity instrument
Including: Preferred stock
Perpetual capital securities
Capital public reserve 2,670,335,732.53 2,682,829,400.26
Less: Inventory shares 26,430,571.38
Other comprehensive income -20,236,842.85 -20,903,270.57
Reasonable reserve
Surplus public reserve 423,111,236.90 423,111,236.90
Provision of general risk
Retained profit 844,831,982.55 734,129,724.00
Total owner’ s equity attributable to parent
4,947,965,824.13 4,837,334,400.21
company
12
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
Minority interests 131,800,516.51 157,456,980.84
Total owner’ s equity 5,079,766,340.64 4,994,791,381.05
Total liabilities and owner’ s equity 17,582,381,359.13 15,190,469,756.33
Legal Representative: Wu Dinggang
Person in charge of accounting works: Pang Haitao
Person in charge of accounting institute: Yang Jun
2. Consolidated Profit Statement (from the year-begin to the period-end)
Unit: Yuan
Item Current period Last period
I. Total operating income 15,375,374,318.73 13,915,010,518.02
Including: Operating income 15,375,374,318.73 13,915,010,518.02
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost 15,220,350,623.36 13,872,478,761.87
Including: Operating cost 13,432,282,408.89 12,225,814,695.57
Interest expense
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 121,545,023.40 96,101,240.28
Sales expense 1,082,452,911.29 1,064,459,268.59
Administrative expense 276,767,176.89 221,253,602.91
R&D expense 386,580,716.87 300,402,724.10
Financial expense -79,277,613.98 -35,552,769.58
Including: Interest expenses 24,006,944.91 50,740,185.10
Interest income 112,113,274.51 100,950,646.76
Add: other income 78,117,281.45 84,253,298.12
Investment income (Loss is listed with “-”) 19,970,558.55 80,853,371.21
Including: Investment income on affiliated company and
7,410,470.62 -21,089,185.99
joint venture
The termination of income recognition for financial
-21,020,148.10
assets measured by amortized cost (Loss is listed with “-”)
Exchange income (Loss is listed with “-”)
Net exposure hedging income (Loss is listed with “-”)
Income from change of fair value (Loss is listed with “-”) 6,783,043.30 -28,310,289.03
Loss of credit impairment (Loss is listed with “-”) -61,885,204.97 -21,358,115.43
Losses of devaluation of asset (Loss is listed with “-”) -35,044,901.69 -46,558,863.61
Income from assets disposal (Loss is listed with “-”) 9,653,201.02 -249,004.26
III. Operating profit (Loss is listed with “-”) 172,617,673.03 111,162,153.15
Add: Non-operating income 7,725,531.66 8,126,104.09
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CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
Less: Non-operating expense 4,890,597.15 2,003,084.43
IV. Total profit (Loss is listed with “-”) 175,452,607.54 117,285,172.81
Less: Income tax expense -9,091,804.45 29,394,642.88
V. Net profit (Net loss is listed with “-”) 184,544,411.99 87,890,529.93
(i) Classify by business continuity
1.continuous operating net profit (net loss listed with ‘-”) 184,544,411.99 87,890,529.93
2.termination of net profit (net loss listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s of parent company (net loss
162,198,444.30 62,259,854.30
listed with ‘-”)
2.Minority shareholders’ gains and losses (net loss listed with ‘-
22,345,967.69 25,630,675.63
”)
VI. Net after-tax of other comprehensive income 733,928.17 -100,790.49
Net after-tax of other comprehensive income attributable to owners
666,427.72 -198,976.30
of parent company
(i) Other comprehensive income items which will not be
reclassified subsequently to profit of loss
1.Changes of the defined benefit plans that re-measured
2.Other comprehensive income under equity method that
cannot be transfer to gain/loss
3.Change of fair value of investment in other equity
instrument
4.Fair value change of enterprise's credit risk
5. Other
(ii) Other comprehensive income items which will be
666,427.72 -198,976.30
reclassified subsequently to profit or loss
1.Other comprehensive income under equity method that
-204,914.10
can transfer to gain/loss
2.Change of fair value of other debt investment
3.Amount of financial assets re-classify to other
comprehensive income
4.Credit impairment provision for other debt investment
5.Cash flow hedging reserve
6.Translation differences arising on translation of foreign
666,427.72 5,937.80
currency financial statements
7.Other
Net after-tax of other comprehensive income attributable to
67,500.45 98,185.81
minority shareholders
VII. Total comprehensive income 185,278,340.16 87,789,739.44
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CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
Total comprehensive income attributable to owners of parent
162,864,872.02 62,060,878.00
Company
Total comprehensive income attributable to minority
22,413,468.14 25,728,861.44
shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.1567 0.0596
(ii) Diluted earnings per share 0.1567 0.0596
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
Person in charge of accounting works: Pang Haitao
Person in charge of accounting institute: Yang Jun
3. Consolidated Cash Flow Statement (from the year-begin to the period-end)
Unit: Yuan
Item Current period Last period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing
16,406,630,708.13 13,404,052,674.38
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 526,357,420.68 561,963,582.97
Other cash received concerning operating activities 172,312,892.42 117,355,922.31
Subtotal of cash inflow arising from operating activities 17,105,301,021.23 14,083,372,179.66
Cash paid for purchasing commodities and receiving
13,083,886,564.95 12,095,383,651.27
labor service
Net increase of customer loans and advances
Net increase of deposits in central bank and interbank
15
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
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 1,262,282,443.43 1,248,072,379.51
Taxes paid 429,330,130.27 297,701,677.67
Other cash paid concerning operating activities 490,575,495.74 626,943,831.60
Subtotal of cash outflow arising from operating activities 15,266,074,634.39 14,268,101,540.05
Net cash flows arising from operating activities 1,839,226,386.84 -184,729,360.39
II. Cash flows arising from investing activities:
Cash received from recovering investment 323,322,268.35 1,420,000,000.00
Cash received from investment income 34,407,108.44 23,968,192.46
Net cash received from disposal of fixed, intangible and
16,653,271.93 1,290,668.56
other long-term assets
Net cash received from disposal of subsidiaries and other
units
Other cash received concerning investing activities 110,063,532.63 157,222,294.61
Subtotal of cash inflow from investing activities 484,446,181.35 1,602,481,155.63
Cash paid for purchasing fixed, intangible and other
202,669,585.70 187,456,291.30
long-term assets
Cash paid for investment 1,150,000,000.00 1,799,000,000.00
Net increase of mortgaged loans
Net cash received from subsidiaries and other units
obtained
Other cash paid concerning investing activities 66,344,241.47 58,411.60
Subtotal of cash outflow from investing activities 1,419,013,827.17 1,986,514,702.90
Net cash flows arising from investing activities -934,567,645.82 -384,033,547.27
III. Cash flows arising from financing activities
Cash received from absorbing investment 368,459,272.52 15,000,000.00
Including: Cash received from absorbing minority
368,459,272.52 15,000,000.00
shareholders’ investment by subsidiaries
Cash received from loans 868,040,918.37 1,293,560,455.26
Other cash received concerning financing activities 11,404,482.95 5,986,105.14
Subtotal of cash inflow from financing activities 1,247,904,673.84 1,314,546,560.40
16
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2022
Cash paid for settling debts 695,000,000.00 1,674,330,870.00
Cash paid for dividend and profit distributing or interest
102,939,182.56 89,877,378.92
paying
Including: Dividend and profit of minority shareholder
25,417,858.64 1,598,892.00
paid by subsidiaries
Other cash paid concerning financing activities 869,994,470.14 15,403,414.62
Subtotal of cash outflow from financing activities 1,667,933,652.70 1,779,611,663.54
Net cash flows arising from financing activities -420,028,978.86 -465,065,103.14
IV. Influence on cash and cash equivalents due to fluctuation
47,997,201.13 24,846,222.17
in exchange rate
V. Net increase of cash and cash equivalents 532,626,963.29 -1,008,981,788.63
Add: Balance of cash and cash equivalents at the period-
5,840,194,931.57 6,425,529,815.10
begin
VI. Balance of cash and cash equivalents at the period-end 6,372,821,894.86 5,416,548,026.47
Legal Representative: Wu Dinggang
Person in charge of accounting works: Pang Haitao
Person in charge of accounting institute: Yang Jun
(ii) Audit report
Whether the 3rd quarterly report has been audited or not
□Yes √ No
The 3rd quarterly report of the Company has not been audited.
Board of Directors of
Changhong Meiling Co., Ltd.
October 25, 2022
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