Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Changhong Meiling Co., Ltd.
The First Quarterly Report of 2021
April 2021
1
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Section I. Important Notes
Board of Directors and the Supervisory Committee of Changhong Meiling Co., Ltd. (hereinafter referred to as 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.
Mr.Wu Dinggang, person in charge of the Company, Mr. Pang Haitao, person in charger of accounting works and
Mr.Yang Jun, person in charger of accounting organ (accounting officer) hereby confirm that the Financial Report
of this Quarterly Report is authentic, accurate and complete.
Prompt of non-standard audit opinion
□ Applicable √ Not applicable
The First Quarterly Report of 2021 has not been audited.
All Directors are attended the Board Meeting for Quarterly Report deliberation.
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Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Section II. Basic situation of the Company
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 period over same
This Period Same period of last year
period of last year
Operating income (RMB) 4,130,121,476.44 2,281,578,242.02 81.02%
Net profit attributable to shareholders of
5,297,826.42 -270,008,124.67 101.96%
the listed company (RMB)
Net profit attributable to shareholders of
the listed company after deducting -26,469,858.74 -282,956,643.92 90.65%
non-recurring gains and losses (RMB)
Net cash flow arising from operating
-968,522,457.80 -1,003,451,132.76 3.48%
activities (RMB)
Basic earnings per share (RMB/Share) 0.0051 -0.2585 101.97%
Diluted earnings per share (RMB/Share) 0.0051 -0.2585 101.97%
Weighted average ROE 0.11% -5.54% 5.65 percentage points increased
Changes of this period-end over
End of this period End of last period
same period-end of last year
Total assets (RMB) 16,470,661,999.78 16,103,355,454.46 2.28%
Net assets attributable to shareholder of
4,853,488,708.14 4,854,173,682.43 -0.01%
listed company (RMB)
Items of non-recurring gains and losses
√ Applicable □ Not applicable
In RMB
Amount from year-begin to
Item Note
period-end
Gains/losses from the disposal of non-current asset (including the Found in “Asset disposal income”,
-489,522.55
write-off that accrued for impairment of assets) “Non-operating expenditure”
Governmental subsidy reckoned into current gains/losses (not
including the subsidy enjoyed in quota or ration according to
13,160,582.16 Found in “Other income”
national standards, which are closely relevant to enterprise’s
business)
Losses/gains from changes of fair values occurred in holding Found in “Investment income” and
21,063,671.48
trading financial assets, derivative financial assets, trading “Changes in fair value gains/losses”
3
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
financial liabilities and derivative financial liabilities, and
investment income obtaining from the disposal of trading
financial assets, derivative financial assets, trading financial
liability, derivative financial liability and other debt investment,
excluded effective hedging business relevant with normal
operations of the Company
Other non-operating income and expenditure except for the Found in “Non-operating income”,
4,032,625.02
aforementioned items “Non-operating expenditure”
Less: impact on income tax 39,843.29
Impact on minority shareholders’ equity (post-tax) 5,959,827.66
Total 31,767,685.16 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and 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, explain reasons
□ Applicable √ Not applicable
The Company has 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,
in the period.
II. Total number of shareholders at the end of this report period and top ten shareholders
1. Total number of common shareholders and preference shareholders with voting rights recovered and top
ten common shareholders
In shares
Total preference shareholders
Total number of common shareholders at the end of with voting rights recovered at
85,066 0
report period end of reporting period (if
applicable)
Top ten shareholders
Number of share
Proportion Amount of pledged/frozen
Nature of Amount of
Shareholder’s name of shares lock-up shares
shareholder shares held State of Amo
held held
share unt
State-owned legal
Sichuan Changhong Electric Co., Ltd. 23.79% 248,457,724 0 - -
person
Hefei Industrial Investment Holding (Group) Co., State-owned legal
4.58% 47,823,401 0 - -
Ltd. person
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Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Foreign legal
Changhong (Hong Kong) Trade Co., Ltd. 2.59% 27,077,797 0 - -
person
Domestic nature
Ma Guobin 2.23% 23,333,500 0 - -
person
Foreign nature
CAO SHENGCHUN 1.41% 14,766,086 0 - -
person
Caitong Fund- Ningbo Bank-Haitong Xingtai Domestic
(Anhui) Emerging Industry Investment Fund non-state-owned 1.03% 10,733,452 0 - -
(Limited Partnership) legal person
Securities A/C for Repurchase under the name of Domestic general
0.80% 8,388,888 0 - -
Changhong Meiling Co., Ltd. legal person
Foreign legal
Philip Securities (H.K.) Co., Ltd. 0.60% 6,296,913 0 - -
person
Domestic nature
Gu Jie 0.41% 4,285,700 0 - -
person
Domestic nature
Wang Yumei 0.41% 4,267,600 0 - -
person
Top ten shareholders with unrestricted shares held
Amount of Type of shares
Shareholder’s name unrestricted shares
Type Amount
held
Sichuan Changhong Electric Co., Ltd. 248,457,724 RMB ordinary shares 248,457,724
Hefei Industrial Investment Holding (Group) Co., Ltd. 47,823,401 RMB ordinary shares 47,823,401
Domestically listed
Changhong (Hong Kong) Trade Co., Ltd. 27,077,797 27,077,797
foreign shares
Ma Guobin 23,333,500 RMB ordinary shares 23,333,500
Domestically listed
CAO SHENGCHUN 14,766,086 14,766,086
foreign shares
Caitong Fund- Ningbo Bank-Haitong Xingtai (Anhui) Emerging Industry
10,733,452 RMB ordinary shares 10,733,452
Investment Fund (Limited Partnership)
Securities A/C for Repurchase under the name of Changhong Meiling Domestically listed
8,388,888 8,388,888
Co., Ltd. foreign shares
Domestically listed
Philip Securities (H.K.) Co., Ltd. 6,296,913 6,296,913
foreign shares
Gu Jie 4,285,700 RMB ordinary shares 4,285,700
Wang Yumei 4,267,600 RMB ordinary shares 4,267,600
Explanation on Among the above shareholders, CHANGHONG (HK) TRADING LIMITED (hereinafter referred to as Hong
associated Kong Changhong) is the wholly-owned subsidiary of Sichuan Changhong Electric Co., Ltd. (Hereinafter referred
5
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
relationship to as Sichuan Changhong); except the shares of the Company directly held by Hong Kong Changhong, 6,296,913
among the shares of B-stock are also held through Phillip Securities (Hong Kong) Co., Ltd., the foregoing shareholders
aforesaid constitute persons of uniform action. There existed no associated relationship or belong to the concerted actors as
shareholders specified in the Measures for the Administration of Information Disclosure of Shareholder Equity Changes of
Listed Companies among Sichuan Changhong, Hong Kong Changhong and other top 6 shareholders (except
Philip Securities (H.K.) Co., Ltd.); “Caitong Fund- Ningbo Bank-Haitong Xingtai (Anhui) Emerging Industry
Investment Fund (Limited Partnership) ” refers to the products of Caitong Fund 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 “Administrative Measures on Information Disclosure of Changes in Shareholding of Listed Companies”.
Explanation on
As of March 31, 2021, among the top 10 common shareholders, Ma Guobin holds 22,514,000 shares of the
top ten common
Company through customer credit trading secured account of Founder Securities Co., Ltd., and 819,500 shares
shareholders
hold through common securities account, thus 23,333,500 shares of the Company are held in total. The
involving
shareholder-Gu Jie holds 4,285,700 shares of the Company through customer credit trading secured account of
margin business
China Merchants Securities Co., Ltd.
(if applicable)
Note 1: At end of the reporting period, the person acting in concert with controlling shareholder Sichuan Changhong--
CHANGHONG (HK) TRADING LIMITED, holds B-stock of the Company as 33,374,710 shares, among which, 6,296,913 shares
are held through Philip Securities (H.K.) Co., Ltd. by CHANGHONG (HK) TRADING LIMITED.
Note 2: In the above table, "Particulars about shares held above 5% by shareholders or top 10 shares holding" is subject to the data on
stock transfer books provided by China Securities Depository and Clearing Corporation Limited Shenzhen Branch.
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
dealing in reporting period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.
2. Total shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held
□ Applicable √ Not applicable
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Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Section III. Significant Events
I. Particulars about material changes in items of main accounting statement and financial
index and explanations of reasons
√ Applicable □Not applicable
(i) Changes and reasons of items in balance sheet
In RMB
Changes
Item Ending balance Opening balance Item
ratio
Mainly due to the purchase of financial products and net cash
Money funds 4,408,281,323.05 6,594,786,789.98 -33.16%
outflow from operating activities in the Period
Trading financial assets 1,028,680,651.61 47,242,339.07 2,077.45% Mainly due to the purchase of financial products in the Period
Accounts receivable 1,778,186,759.73 1,130,275,780.66 57.32% Mainly due to the increase of operation revenue in the Period
Mainly due to the advance purchase payment increased in the
Advance payment 58,012,556.17 30,105,373.40 92.70%
Period
Inventory 2,667,019,319.18 1,715,354,951.43 55.48% Mainly due to the gain in yield in the Period
Mainly due to the implementation of new leasing standards in
Right-of-use asset 22,258,350.11 - 100.00%
the Period
Employee compensation
198,470,767.14 290,321,776.05 -31.64% Mainly due to the payment of wages in the Period
payable
Mainly due to the VAT retention credit from subsidiary
Taxes payable 61,038,028.05 89,682,433.90 -31.94%
Changhong Air-conditioner increased in the Period
Non-current liabilities due Mainly due to the repayment of long-term loans due within one
115,715,827.98 407,825,150.74 -71.63%
within one year year in the Period
Mainly due to the taxes on contract liabilities increased in the
Other current liabilities 34,135,600.19 22,923,698.73 48.91%
Period
Long term loan 488,518,705.55 188,231,439.30 159.53% Mainly due to the long-term loans increased in the Period
Mainly due to the implementation of new leasing standards in
Lease liability 12,940,572.85 - 100.00%
the Period
Deferred income tax Mainly due to the reversal of deferred income tax liabilities in
6,268,762.89 10,575,582.33 -40.72%
liabilities the Period
(ii) Changes and reasons of items in profit statement
In RMB
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Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Amount at the
Amount at the Changes
Item same period of last Reasons of changes
period ratio
year
Operation revenue Mainly due to the impact of COVID-19 outbreak in the same
4,130,121,476.44 2,281,578,242.02 81.02%
period of the previous year
Operating cost 3,462,713,769.04 1,991,759,544.67 73.85% Same as “Operation revenue”
Taxes and Same as “Operation revenue”
27,280,660.16 18,907,987.65 44.28%
surcharges
Financial expenses -1,483,821.14 4,376,275.14 -133.91% Mainly due to the gains/losses of changes in foreign exchange
Gains from changes Mainly due to the fair value changes in forward foreign exchange
-17,465,727.43 -3,935,681.27 -343.78%
in fair value contract
Mainly due to the y-o-y increase of forward foreign exchange
Investment income 31,431,230.42 7,493,976.04 319.42%
contract delivery proceeds
Credit impairment Mainly due to the impairment loss of note receivable and account
-14,975,095.55 -33,262,321.33 54.98%
loss receivable increased from a year earlier
Assets disposal Mainly due to the loss from part of the assets disposal in the
-132,879.85 262,008.65 -150.72%
income Period
Income tax expenses The income tax expenses increased due to the taxable income
5,426,757.07 -6,990,752.22 177.63%
amount increased in the Period
Profitability from part of the non-wholly-owned subsidiaries
Minority interest 6,070,032.95 -8,756,819.19 169.32%
increased from a year earlier
(iii) Changes and reasons of items in cash flow statement
In RMB
Amount at the
Amount at the Changes
Item same period of Reasons of changes
period ratio
last year
Cash received from selling goods and Cash received from selling goods and providing
3,373,434,107.23 2,514,448,244.56 34.16%
providing services services increased on a y-o-y basis
Other cash paid concerning operation
270,888,821.50 188,388,232.21 43.79% The restricted monetary funds increased in the Period
activities
At same period last year, received dividends from
Cash received from investment income 0.00 2,279,362.48 -100.00% joint venture subsidiaries while no such amount
occurred in the Period
Net cash received from disposal of
The cash received from disposal of fixed assets and
fixed assets, intangible assets and other 226,967.80 600.00 37,727.97%
intangible assets are increased from a year earlier
long-term assets
Other cash received in connection with 65,932,678.99 39,748,651.98 65.87% The income from forward foreign exchange contract
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Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
investment activities delivery proceeds increased from a year earlier
Cash paid for acquisition and
The cash flow paid for purchasing fixed assets in the
construction of fixed assets, intangible 86,274,381.23 65,387,929.38 31.94%
Period increased on a y-o-y basis
assets and other long-term assets
Purchase of financial management in the Period
Cash paid for investments 1,000,000,000.00 150,000,000.00 566.67%
increased on a y-o-y basis
The loans obtained in the Period declined on a y-o-y
Cash received from borrowing 647,079,820.49 976,420,210.00 -33.73%
basis
The cash paid for debt service in the Period increased
Cash paid for debt repayment 904,900,000.00 377,260,642.92 139.86%
on a y-o-y basis
Other cash paid concerning financing
6,339,329.84 358,999.60 1,665.83% Cash paid for buy-back of B-stock in the Period
activities
II. Analysis and explanation of significant events and their influence and solutions
√ Applicable □Not applicable
(i) Transaction with Sichuan Changhong Group Finance Co., Ltd.
The Company held the 41st session of 9th BOD, 22nd session of 9th BOS and Fourth Extraordinary Shareholder’s
Meeting of 2020 on 14 August 2020 and 12 October respectively, deliberated and approved the “Proposal on
Renewal of Financial Services Agreement with Sichuan Changhong Group Finance Co., Ltd and Related
Transactions”, and agreed the Company to continued financial services cooperation and renewal of the Financial
Services Agreement for a period of three years with Sichuan Changhong Group Finance Co. Ltd. (hereinafter
referred to as Changhong Finance Company). Changhong Finance Company shall provide a series of financial
services such as deposit and loan in its business scope according to the requirements of the Company and its
subsidiaries.
The Company held the 4th session of 10th BOD, 3rd session of 10th BOS and Fifth Extraordinary Shareholder’s
Meeting of 2020 on 11 December 2020 and 19 December respectively, deliberated and approved the “Proposal on
the Expected Continuing Related Transactions between the Company and its Subsidiaries and Sichuan Changhong
Group Finance Co., Ltd for year of 2021”.
The related transactions between the company and its subsidiaries and Changhong Finance Company from the
beginning of the year to the end of the reporting period are as follows:
In RMB
Interest,
Increased during Decreased during
Item Opening balance Ending balance handling charge
the Period the Period
paid or received
I. Savings in Changhong Group
2,798,256,008.52 10,043,782,166.63 10,530,709,013.62 2,311,329,161.53 20,366,873.01
Finance Company
II. Borrowings from Changhong
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Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Interest,
Increased during Decreased during
Item Opening balance Ending balance handling charge
the Period the Period
paid or received
Group Finance Company
1.Short-term loans
2.Long-term loans
III. Other financial business
1.Notes drawing 1,515,518,972.25 751,830,184.89 746,806,409.20 1,520,542,747.94 406,775.09
2.Notes discounted 1,346,246,973.62 219,112,106.42 721,317,558.85 844,041,521.19 2,792,620.67
(ii) Other significant events
Information index for temporary
Overview Date for disclosure
report disclosure
After review and approval by the resolution of the BOD and BOS, it was agreed that the
Juchao Website:
company would use the idle raised funds with 120 million yuan at most (the quota can be
http://www.cninfo.com.cn
used on a rolling basis) to invest in the high-security, good-liquidity and capital-guaranteed March 3, 2021
(No. 2021-008, No. 2021-009 and
financial products with maturity within one year. The matter is subject to the deliberation and
No. 2021-010)
approval by AGM of 2020 of the Company.
After review and approval by the resolution of the BOD, it was agreed that the subordinate
Juchao Website:
controlling subsidiary Zhongke Meiling to newly established a wholly-owned subsidiary-
March 3, 2021 http://www.cninfo.com.cn
Anhui Linghe Medical Devices Co., Ltd. (tentative name, subject to the approved name with
(No. 2021-008)
Industry & Commerce authority) with 10 million yuan.
After review and approval by the resolution of the BOD and BOS, it was agreed that the Juchao Website:
Company provide a credit guarantee line (not exceeding 359 million yuan) with a period of http://www.cninfo.com.cn
March 3, 2021
one year to its subordinate controlling subsidiary Changmei Domestic Appliance. The matter (No. 2021-008, No. 2021-009 and
is subject to the deliberation and approval by AGM of 2020 of the Company. No. 2021-011)
After review and approval by the resolution of the BOD, it was agreed to performing
technical renovations on the production line of Hefei Base Refrigerator (cabinet) with Juchao Website:
24.4276 million yuan, achieving the cost reduction and efficiency gains to reduce March 3, 2021 http://www.cninfo.com.cn
manufacturing costs and further enhance the market competitiveness of the company’s (No. 2021-008)
products.
After review and approval by the resolution of the BOD, it was agreed that the Company and
its subordinate subsidiaries carry out the forward foreign exchange funds trading business
Juchao Website:
between 1 July 2021 and 30 June 2022. The balance of trading shall not exceed US$ 720
March 31, 2021 http://www.cninfo.com.cn
million (mainly including: USD, AUD and EUR, all other foreign currencies are converted to
(No. 2021-013 and No. 2021-019)
USD), the maximum settlement period of a single transaction shall not exceed one year. The
matter is subject to the deliberation and approval by AGM of 2020 of the Company.
After review and approval by the resolution of the BOD, it was agreed that the Company to Juchao Website:
formulated the “Shareholder Return Plan for the Next Three Years (2021-2023)”. The matter March 31, 2021 http://www.cninfo.com.cn
is subject to the deliberation and approval by AGM of 2020 of the Company. (No. 2021-013)
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Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
After review and approval by the resolution of the BOD, it was agreed that the subordinate
Juchao Website:
subsidiary of the company- Zhongshan Changhong to write-off a bad debt of 1,657,332.46
March 31, 2021 http://www.cninfo.com.cn
yuan in total, which was really beyond collection. The matter is subject to the deliberation
(No. 2021-013 and No. 2021-020)
and approval by AGM of 2020 of the Company.
After review and approval by the resolution of the BOD, agreed to appoint Mr. Tang Youdao Juchao Website:
as the Vice President of the Company, his office term will same as the term as the current March 31, 2021 http://www.cninfo.com.cn
BOD. (No. 2021-013)
After review and approval by the resolution of the BOD and BOS, it was agreed that
Juchao Website:
controlling subsidiary - Zhongke Meiling Cryogenic Technology Co., Ltd to provide 60
http://www.cninfo.com.cn
million yuan credit guarantee line to its wholly-own subsidiary- Anhui Tuoxing Technology March 31, 2021
(No. 2021-013, No. 2021-014 and
Co., Ltd with guarantee period of one year. The matter is subject to the deliberation and
No. 2021-021)
approval by AGM of 2020 of the Company.
After review and approval by the resolution of the BOD, it was agreed that the company and
its subsidiaries to applying for a special credit line for the note pool from the follow
institutions as: up to 300 million yuan from Hefei Branch of Industrial Bank Co., ltd, up to
Juchao Website:
300 million yuan from Hefei Branch of Ping An Bank Co., ltd, up to 300 million yuan from
March 31, 2021 http://www.cninfo.com.cn
Hefei Economic Development Zone Branch of Huishang Bank Co., Ltd., up to 300 million
(No. 2021-013 and No. 2021-022)
yuan from Hefei Branch of China Merchants Bank and up to 50 million yuan from Hefei
Branch of CITIC Bank. The matter is subject to the deliberation and approval by AGM of
2020 of the Company.
After review and approval by the resolution of the BOD, agreed to re-appoints Shine Wing
Certified Public Accountants (LLP) as the audit institution of the annual financial report 2021
and internal control of the Company with one year period. At the same time, to request the Juchao Website:
shareholders’ general meeting to authorize management of the Company to determine its March 31, 2021 http://www.cninfo.com.cn
annual audit remuneration, according to the industry standards and actual audit works of the (No. 2021-013 and No. 2021-017)
company. The matter is subject to the deliberation and approval by AGM of 2020 of the
Company.
Former securities affairs representative and staff supervisor Mr. Zhu Wenjie, apply to resign
as the staff supervisor of 10th BOS and securities affairs representative due to personal
reasons. To ensure that the structure of the BOS conforms to the relevant legal requirements, Juchao Website:
the staff congress held on 30 March 2021, after voting by the staff representative, agreed to March 31, 2021 http://www.cninfo.com.cn
th
elected Ms. Sun Hongying as the staff supervisor of the 10 BOS, term of office shall (No. 2021-023)
commence from the date of deliberation and approved by Staff Congress to the date of
expiration of the 10th BOS.
(iii) Progress of shares buy-back
√Applicable □ Not applicable
The company’s 40th session of the ninth board of directors, the 21st session of the ninth board of supervisors, and
the 3rd extraordinary general meeting of shareholders in 2020 held on July 27, 2020 and August 18, 2020
deliberated and approved the Proposal on the Repurchase of Part of Domestically Listed Foreign Shares (B Shares)
of the Company. Agreed the Company to using the own funds to buy-back the B share by means of centralized
bidding transactions, within the 12 months since the Buy-back of B share proposal approved by Shareholders
11
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
general Meeting. The price of buy-back shall not exceed HK$ 2,21 per share (inclusive), and shall not be higher
than 150% of the average trading price of B shares for the 30 trading days prior to the date when the buy-back
proposal approved by the Board. The total amount of buy-back shall not be less than 50 million yuan (inclusive)
and not more than 100 million yuan (inclusive), converted at the mid-rate of HKD/CNY exchange rate dated 24
July 2020(HKD1=CNY0.9023), equivalent to not less than HK$55,413,942.15 (inclusive) and not exceeding
HK$ 110,827,884.30 (inclusive). (the actual amount of HKD is based on the exchange rate on the date of purchase
of foreign exchange, including the relevant expenses as foreign exchange purchase and transaction fees )
The company repurchased its shares for the first time from November 4, 2020 to the disclosure date of the report,
and repurchased 8,388,888 shares of the company by centralized bidding through a dedicated securities account
for repurchase, accounting for 0.8031% of the company’s total share capital, the highest transaction price was
HK$2.21/share, the lowest transaction price was HK$1.87/share, and the total amount of self-owned funds paid
was HK$17,946,867.40(excluding transaction fees such as stamp duty and commission).
Among which, from 1 January 2021 to 31 March 2021, repurchased 2,836,737 shares of the company by
centralized bidding through a dedicated securities account for repurchase, accounting for 0.2716% of the
company’s total share capital, the highest transaction price was HK$2.21/share, the lowest transaction price was
HK$2.15/share, and the total amount of self-owned funds paid was HK$6,247,402.13(excluding transaction fees
such as stamp duty and commission).
Found more on announcement (Notice No.:2020-047, 2020-048, 2020-049, 2020-063, 2020-064, 2020-066,
2020-081, 2020-092, 2020-093, 2020-094, 2020-095, 2021-001, 2021-007, 2021-012 and 2021-025) released on
appointed media China Securities Journal, Securities Times, Hong Kong Commercial Daily and Juchao Website
(www.cninfo.com.cn) respectively dated 28 July 2020, 31 July, 14 August, 19 August, 4 September, 10 October, 3
November, 5 November, 6 November, 2 December and 5 January 2021, 3 February, 3 March and 3 April.
(iv) Implementation progress of the reduction of repurchases shares by centralized bidding
□ Applicable √ Not applicable
III. Commitments completed in Period and those without completed till end of the Period
from actual controller, shareholders, related parties, purchaser and companies
□ Applicable √ Not applicable
The Company has no commitments completed in Period and those without completed till end of the Period from
actual controller, shareholders, related parties, purchaser and companies.
IV. Financial asset investment
1. Securities investment
□ Applicable √ Not applicable
There was no securities investment in the company during the reporting period.
12
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
2. Derivative investment
√ Applicable □Not applicable
In 10 thousand Yuan
Amount of
Ratio of
reserve for
investment
Whether Amount Amount devaluatio
Related Investment Investment amount at Actual
related Initial purchased in sales in the n of
Operator relationshi Type Start date End date amount at amount at period-end in gains/losses in
trade or investment the reporting reporting withdrawi
p period-begin period-end net assets of the period
not period period ng (if
Company at
applicable
period-end
)
Forward
Financial
N/A No foreign 328,707.20 April 22, 2020 December 31, 2021 208,749.56 119,957.64 97,475.87 - 227,378.39 46.85% 3,852.94
institution
exchange
Total 328,707.20 -- -- 208,749.56 119,957.64 97,475.87 - 227,378.39 46.85% 3,852.94
Capital resource Self-owned capital
Lawsuit involved (if applicable) Not applicable
Disclosure date for approval from the Board for
March 28, 2020
investment of derivatives (if applicable)
Disclosure date for approval from board of
shareholders for investment of derivatives (if May 30, 2020
applicable)
Risk analysis:
Risk analysis and controlling measures for 1. Market risk: domestic and international economic situation changes may lead to exchange rate fluctuations, forward foreign exchange transactions are
derivatives holdings in the Period (including but under certain market risk. Forward foreign exchange business is aiming to reducing impact on corporate profits by foreign exchange settlement and sale
not limited to market risk, liquidity risk, credit prices, exchange rate fluctuations. The Company will follow up the exchange fluctuation, on the basis of target rate determined from the business, relying on
risks, operation risk and law risks etc.) the research of the foreign currency exchange rates, combined with prediction of consignments, and burdening ability to price variations due to exchange rate
fluctuations, then determine the plan of forward foreign exchange contracts, and make dynamic management to the business, to ensure reasonable profit
13
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
level.
2. Liquidity risk: all foreign exchange transactions are based on a reasonable estimate of the future import and export business, to meet the requirements of
the trade authenticity. In addition, forward foreign exchange transactions are processed with bank credit, will not affect liquidity of company funds.
3. Bank default risk: if cooperative banks collapse within the contract time, the Company will not be able to transact the original foreign exchange contracts
with contract price, which leads the risk of income uncertainty. So the Company chose Bank of China, Agricultural Bank of China, Industrial and
Commercial Bank of China, China Construction Bank and other Chines e-funded banks with a joint-stock system as Everbright and Industrial Bank, as well
as the foreign-funded banks as UOB, Oversea Chinese Bank and the Bank of East Asia etc. to conduct the trading of foreign exchange capital. These banks
share a solid strength and management whose failure and the risk of loss may bring to the Company is very low.
4. Operational risk: improper operation of the person in charge of forward foreign exchange transactions may cause related risk also. The Company has
formulated related management system which defines the operation process and responsibility to prevent and control risks.
5. The legal risks: unclear terms based in contract signed with banks for related transactions may lead legal risks when forward foreign exchange transactions
are processing. The Company will strengthen legal review, and choose good bank to carry out this kind of business as to risk control.
The Company determines fair value in accordance with the Chapter VII “Determination of Fair Value” carried in the Accounting Standards for Business
Risk analysis and controlling measures for
Enterprises No.22 - Recognition and Measurement of Financial Instruments. Fair-value is basically obtained according to prices offered by bank and other
derivatives holdings in the Period (including but
pricing services. While fair-value of derivatives is mainly obtained according to the balance between prices given by outstanding contracts and forward
not limited to market risk, liquidity risk, credit
prices given by contracts signed during the reporting period with bank. The differences are identified as trading financial assets and liabilities. During the
risks, operation risk and law risks etc.)
reporting period, forward foreign exchange contracts and losses of the Company is 38.5294 million yuan.
Specific principle of the accounting policy and
calculation for derivatives in the Period
Not applicable
compared with last period in aspect of major
changes
Upon inspection, the independent directors of the Company believes that: during the reporting period, the Company carried out its foreign exchange forward
deals in strict compliance with the Standardized Operation Guidelines for Listed Company issued by Shenzhen Stock Exchange, the Articles of Association,
Authorization Management of the Company, Management System in relating to Foreign Exchange Forward Deals of the Company, and these deals were
Special opinion on derivative investment and conducted within the authorization scope under general meeting and board meeting. The Company conducts no foreign exchange transactions on the purpose
risk control by independent directors of getting profit only, all of the forward foreign exchange transactions are operates based on normal operating and production, which is relying on specific
business operations with purpose of avoiding the preventing the risks in exchange rate. The forward foreign exchange transactions of the Company are
beneficial to prevent the exchange risks exposed by import and export business and thus met its requirement for operation development. There was no
speculative operation, no break of relevant rules and regulations and relevant business was conducted under corresponding decision-making procedures.
14
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Interests of the Company and entire shareholders, especially minority shareholders, were not prejudiced.
15
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
V. Progress of investment projects with raised funds
√ Applicable □Not applicable
(i) Particular about process of the fund raised
The Company implemented a private placement of A-share in year of 2016, totally 1,569,999,998.84 Yuan raised,
net money raised amounting to 1,540,732,722.76 Yuan after deducted vary issuance costs (tax included)
29,267,276.08 Yuan.
Being deliberated and approved by the 24th session of the 9th board of directors, the 13th session of the 9th board of
supervisors, and the second extraordinary general meeting of shareholders in 2019,it was agreed that the company
to change the unused raised funds of 120 million yuan from the sub-project “annual additional 600000 sets of
medium and large volume environmental protection and energy-saving freezer intelligent production line” under
the fund raise project -"Intelligent Manufacturing Construction Project" and put into the "Production base project
of annual output of 2 million washing machines(Phase II) "; and agreed the company to terminate the
implementation of “Intelligent Life Project” and use the remaining proceeds of the project and interest from
financial management to permanently replenish the working capital. Up to now, the company regulates the use of
funds raised in line with the decision-making of the shareholders general meeting and relevant regulation.
As of 31 March 2021, the fund raising project of private issuance of 2016 has 1,519,817,853.08 yuan (including
the amount of permanent supplementary working capital) actually used in total, balance of the dedicated fund
raising account was 145,133,593.35 yuan (including interest income of 3,868,587.54 yuan and maturity income of
the bank financial management 38,511,235.70 yuan). Among them, from January to March 2021, the company
used a total of 11668519.11 yuan of raised funds.
(ii) Progress of the projects with fund raised involved
1. “Construction of intelligent manufacturing project”
(1) Sub-project “Intelligent manufacturing (Hefei)”: up to now, the project has reached the intended useable
condition. The cumulative proceeds amounted to 271,000,000.00 yuan and 38,321,431.22 yuan remain, all of
which were the deposit interest and income from financial managements.
(2) Production base project of annual output of 2 million washing machines (Phase II) has a trial production in
June 2020. Up to now, the project has substantially reached its intended useable condition. Other projects are
ready for use, and the remaining payment is till in the process of payment. The cumulative proceeds amounted to
86,328,918.14 yuan and 37,676,856.31 yuan remain (including 3,880,593.68 yuan financial management income
and 125,180.77 yuan deposit interest)
2. “Construction of intelligent R&D capability and new products development of the intelligent appliance
technology”
Except for the sub-project “intelligent R&D management platform construction”, other projects have been
completed. As of the end of the reporting period, the cumulative proceeds of “Construction of intelligent R&D
capability and new products development of the intelligent appliance technology” amounted to 540,764,219.90
yuan (including the cash supplemented the working capital 126,766,362.64 yuan), 69,135,305.82 yuan remain
(including interest income 52,617.57 yuan and financial management income 0 yuan)
16
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Being deliberated and approved by 31st session of 9th BOD, 16th session of 9th BOS and Fourth Extraordinary
Shareholders Meeting of 2019, it was agreed that the company to change the use and investment of some of the
funds raised in the “intelligent research and development project”, and use them to purchase intelligent
infrastructure platform construction and software R & D platforms and other R & D assets from Sichuan
Changhong Electric Co., Ltd.and its subsidiaries, in order to completed the sub-project “intelligent R&D
management platform construction” under the “intelligent research and development project”. However, due to
the certain changes outside the environment during the trading period, material uncertainty has arisen regarding
the timing and outcome of the completion of the delivery of the underlying assets of the transaction. In order to
effectively safeguard the interest of the listed company and all shareholders, considering that the listed company
has not yet paid the transaction funds, and has not yet carried out the transfer procedures of the underlying assets,
and being deliberated and approved by the 7th session of 10th BOD and 6th session of 10th BOS held on 19 April
2021, agreed the company to terminated the purchasing of R&D assets, such as intelligent infrastructural platform
construction and software development platform from Sichuan Changhong and its subsidiary as well as the related
transactions. The amount of the related transaction termination amounted to 46.6173 million yuan. After
transaction terminated, the remain fund raise of “intelligent R&D capacity construction and new product
development project on intelligent home appliance technology” will still be used for the follow-up investment.
The company builds its own R&D platform to meet the rapid response of technology iteration and upgrade,
improve the R&D efficiency and enhance the competitiveness of independent R&D core technology.
3. “Intelligent life project”
The resolutions of the 24thsession of the ninth board of directors of the company, the 13thsession of the ninth board
of supervisors, and the 2nd extraordinary shareholders’ meeting in 2019 passed and approved the company to
terminate the implementation of the “Intelligent life project” and use the remaining raised funds and financial
management interest of the project to permanently supplement the working capital. The company has withdrawn
the remaining funds raised and interest income from this account, a total of 305,843,051.27 yuan, to permanently
supplement the company’s working capital. Meanwhile, the implement subject - Changmei Technology Co., Ltd.
(hereinafter referred to as the “Changmei Technology”) has been liquidated and cancelled.
4. Supplementary the floating capital was completed, and the cumulative use of proceeds amounted to
270,880,063.77 yuan (including deposit interest 147,341.01 yuan)
VI. Forecast of operation performance from January – June of 2021
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation on reason
□ Applicable √ Not applicable
VII. Major contracts for daily operations
□ Applicable √ Not applicable
17
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
VIII. Trust financing
√Applicable □ Not applicable
In 10 thousand Yuan
Type Capital resources Amount for entrust Undue balance Overdue amount
Bank financing products Idle own funds 100,000 100,000 0
Total 100,000 100,000 0
Details of the single major amount, or high-risk trust investment with low security, poor fluidity and
non-guaranteed:
√Applicable □ Not applicable
18
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
In 10 thousand Yuan
Amount
of
Wheth
reserve Whether
er
Anticipate Actual Actual for has Summary of
Criteri Referenc approv
Source d income gains/l collected devaluat entrust the items and
Trustee institution Trustee Produc Expiry a for e annual ed by
Amount of Start date Capital investment purpose (if osses gains/los ion of finance related query
(or name of trustee) type t type date fixing rate of legal
funds applicable in ses in withdra plan in index (if
reward return proced
) period period wing the applicable)
ure
(if future
(Y/N)
applicab
le)
Princi
pal-gu
Juchao
arante Deposits embedded in financial Annua
Website(ww
Hefei Branch of ed Idle derivatives absorbed by the Bank are lized Not
January July 15, w.cninfo.co
Bank of East Asia Bank with 10,000 own linked to exchange rate fluctuations so returns 3.60% 181.00 - - N/A Y applicab
15, 2021 2021 m.cn)
(China) Co., Ltd. floatin funds that depositors can obtain corresponding : le
(Notice No.:
g returns on the basis of certain risks. 3.60%
2021-003)
incom
e
19
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
The funds raised from the structured
deposit products of Bank of
Communications are operated uniformly
by the Bank of Communications, and
Princi
business management is carried out in
pal-gu
accordance with the principle of Juchao
arante Annua
Mianyang Branch separating basic deposits from derivative Website(ww
ed Idle lized Not
of Bank of January April 19, transactions. The principal part raised is w.cninfo.co
Bank with 20,000 own returns 3.15% 157.07 - - N/A Y applicab
Communications 18, 2021 2021 included in the unified operation and m.cn)
floatin funds : le
Co., Ltd. management of the internal funds of the (Notice No.:
g 3.15%
Bank of China, and included in the 2021-003)
incom
payment scope of deposit reserves and
e
deposit insurance premiums. The
embedded derivatives of a product are
lined to exchange rates, interest rates,
commodities indexes and other targets.
20
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
The funds raised from the structured
deposit products of Bank of
Communications are operated uniformly
by the Bank of Communications, and
Princi
business management is carried out in
pal-gu
accordance with the principle of Juchao
arante Annua
Anhui Branch of separating basic deposits from derivative Website(ww
ed Idle lized Not
Bank of January April 19, transactions. The principal part raised is w.cninfo.co
Bank with 10,000 own returns 3.15% 77.67 - - N/A Y applicab
Communications 19, 2021 2021 included in the unified operation and m.cn)
floatin funds : le
Co., Ltd. management of the internal funds of the (Notice No.:
g 3.15%
Bank of China, and included in the 2021-003)
incom
payment scope of deposit reserves and
e
deposit insurance premiums. The
embedded derivatives of a product are
lined to exchange rates, interest rates,
commodities indexes and other targets.
21
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Funds raised by this product are operated
uniformly by the Bank of China, and
business management is carried out in
accordance with the principle of
separating basic deposits from derivative
Guara
transactions. The principal part raised is Juchao
nteed Annua
included in the unified operation and Website(ww
Hefei Branch of capital Idle lized Not
January July 14, management of the internal funds of the w.cninfo.co
Bank of China Bank and 10,000 own returns 3.63% 176.03 - - N/A Y applicab
18, 2021 2021 Bank of China, and included in the m.cn)
Limited minim funds : le
payment scope of deposit reserves and (Notice No.:
um 3.63%
deposit insurance premiums. Products 2021-003)
return
embedded derivatives are partly invested
in derivatives markets such as exchange
rates, interest rates, commodities, and
indices, and the final product performance
is linked to derivatives.
Princi
pal-gu
Juchao
arante Annua
A structured deposit product whose Website(ww
Hefei Branch of ed Idle lized Not
January July 21, derivatives are partially linked to the w.cninfo.co
Bohai Bank Co., Bank with 5,000 own returns 3.50% 87.26 - - N/A Y applicab
20, 2021 2021 mid-rate of the U.S. dollar against m.cn)
Ltd. floatin funds : le
Japanese Yen exchange rate (Notice No.:
g 3.50%
2021-003)
incom
e
22
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Princi
pal-gu
Juchao
arante Annua
A structured deposit product whose Website(ww
Chengdu Branch of ed Idle lized Not
January July 21, derivatives are partially linked to the w.cninfo.co
Bohai Bank Co., Bank with 10,000 own returns 3.50% 174.52 - - N/A Y applicab
20, 2021 2021 mid-rate of the U.S. dollar against m.cn)
Ltd. floatin funds : le
Japanese Yen exchange rate (Notice No.:
g 3.50%
2021-004)
incom
e
Funds raised by this product are operated
uniformly by the Bank of China, and
business management is carried out in
accordance with the principle of
separating basic deposits from derivative
transactions. The principal part raised is
Guara included in the unified operation and
Juchao
nteed management of the internal funds of the Annua
Website(ww
Mianyang branch of capital Idle Bank of China, and included in the lized Not
January April 20, w.cninfo.co
Bank of China Bank and 20,000 own payment scope of deposit reserves and returns 3.54% 178.45 - - N/A Y applicab
18, 2021 2021 m.cn)
Limited minim funds deposit insurance premiums. Products : le
(Notice No.:
um embedded derivatives are partly invested 3.54%
2021-003)
return in derivatives markets such as exchange
rates, interest rates, commodities, and
indices, and the final product performance
is linked to derivatives. During the
investment period, Bank of China uses the
income method to value the embedded
option price of this structured deposit.
23
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
The principal part of this product shall be
incorporated into the unified internal fund
Princi operation and management of ICBC, the
pal-gu income is invested in the derivative linked
Juchao
Hefei Changdong arante to the exchange rate of US dollar against Annua
Website(ww
Branch of Industrial ed Idle Japanese Yen, and earnings of the lized Not
January April 28, w.cninfo.co
and Commercial Bank with 10,000 own products are linked to the performance of returns 3.30% 83.18 - - N/A Y applicab
26, 2021 2021 m.cn)
Bank of China floatin funds the US dollar/Japanese Yen exchange rate : le
(Notice No.:
Limited g in the international markets during the 3.30%
2021-005)
incom observation period. Returns of the
e investors are depend on the performance
of the US dollar against the Japanese Yen
over the observation period.
This product is a RMB structured deposit
product with embedded financial
derivative instruments. The bank will
Princi invest the raised structured deposit funds
pal-gu in bank time deposits, and at the same
Juchao
arante time invest in financial derivative Annua
Website(ww
Hefei Branch of ed Idle transactions (including but not limited to lized Not
January April 15, w.cninfo.co
China Everbright Bank with 5,000 own options and swaps and other derivative returns 3.00% 37.50 - - N/A Y applicab
15, 2021 2021 m.cn)
Bank Co., Ltd. floatin funds transactions) in domestic or international : le
(Notice No.:
g financial markets by limiting the income 3.00%
2021-004)
incom of the time deposits to the upper limit, the
e sum of the investment gains and losses of
financial derivative transactions and the
bank deposit interest together constitute
the income of structured deposit products.
Total 100,000 -- -- -- -- -- -- 1,152.68 - -- -- -- -- --
24
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Entrust financial expected to be unable to recover the principal or impairment might be occurred
□Applicable √ Not applicable
IX. Guarantee outside against the regulation
□Applicable √Not applicable
The Company had no guarantee outside against the regulation in the reporting period.
X. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
The Company had no non-operational fund occupation from controlling shareholders or its related party in the
reporting period.
XI. Registration form for receiving research, communication and interview in the report
period
□Applicable √Not applicable
The Company had no receiving research, communication or interview in the report period.
25
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Section IV. Financial Statement
I. Financial statement
1. Consolidate balance sheet
Prepared by Changhong Meiling Co., Ltd.
In RMB
Item March 31, 2021 March 31, 2020
Current assets:
Monetary fund 4,408,281,323.05 6,594,786,789.98
Settlement provisions
Capital lent
Trading financial assets 1,028,680,651.61 47,242,339.07
Derivative financial assets
Note receivable 319,034,920.06 340,421,386.71
Account receivable 1,778,186,759.73 1,130,275,780.66
Receivable financing 1,528,145,863.81 1,632,388,702.83
Accounts paid in advance 58,012,556.17 30,105,373.40
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Other account receivable 149,284,188.35 145,705,978.26
Including: Interest receivable
Dividend receivable
Buying back the sale of financial assets
Inventories 2,667,019,319.18 1,715,354,951.43
Contractual assets
Assets held for sale
Non-current asset due within one year
Other current assets 244,822,465.13 198,353,464.98
Total current assets 12,181,468,047.09 11,834,634,767.32
Non-current assets:
Loans and payments on behalf
Debt investment
26
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Other debt investment
Long-term account receivable
Long-term equity investment 69,683,549.24 76,982,822.38
Investment in other equity instrument
Other non-current financial assets 548,148,931.34 548,148,931.34
Investment real estate 54,588,057.54 53,888,462.00
Fixed assets 2,369,501,821.01 2,391,859,440.31
Construction in progress 67,835,296.75 60,775,088.96
Productive biological asset
Oil and gas asset
Right-of-use assets 22,258,350.11
Intangible assets 953,035,638.26 936,851,520.65
Expense on Research and Development 79,614,245.23 73,028,441.56
Goodwill
Long-term expenses to be apportioned
Deferred income tax asset 124,528,063.21 127,185,979.94
Other non-current asset
Total non-current asset 4,289,193,952.69 4,268,720,687.14
Total assets 16,470,661,999.78 16,103,355,454.46
Current liabilities:
Short-term loans 993,337,141.77 1,336,209,050.55
Loan from central bank
Capital borrowed
Trading financial liability 3,488,116.48 4,584,076.51
Derivative financial liability
Note payable 4,653,004,079.61 4,439,607,982.34
Account payable 3,451,101,623.90 2,851,999,684.30
Accounts received in advance
Contractual liability 455,639,599.56 522,550,891.28
Selling financial asset of repurchase
Absorbing deposit and interbank deposit
Security trading of agency
Security sales of agency
Wage payable 198,470,767.14 290,321,776.05
27
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Taxes payable 61,038,028.05 89,682,433.90
Other account payable 781,898,901.41 724,701,686.72
Including: Interest payable
Dividend payable 4,466,628.25 4,466,628.25
Commission charge and commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due within one year 115,715,827.98 407,825,150.74
Other current liabilities 34,135,600.19 22,923,698.73
Total current liabilities 10,747,829,686.09 10,690,406,431.12
Non-current liabilities:
Insurance contract reserve
Long-term loans 488,518,705.55 188,231,439.30
Bonds payable
Including: Preferred stock
Perpetual capital securities
Lease liability 12,940,572.85
Long-term account payable 1,481,910.81 1,705,323.91
Long-term wages payable 9,804,235.21 10,571,526.69
Accrual liability 46,674,564.52 62,392,735.07
Deferred income 174,664,662.34 177,377,450.12
Deferred income tax liabilities 6,268,762.89 10,575,582.33
Other non-current liabilities
Total non-current liabilities 740,353,414.17 450,854,057.42
Total liabilities 11,488,183,100.26 11,141,260,488.54
Owner’s equity:
Share capital 1,044,597,881.00 1,044,597,881.00
Other equity instrument
Including: Preferred stock
Perpetual capital securities
Capital public reserve 2,683,834,267.96 2,683,837,229.12
Less: Inventory shares 15,158,122.98 9,929,336.18
Other comprehensive income -22,202,136.92 -21,451,084.17
Reasonable reserve
28
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Surplus public reserve 416,364,790.43 416,364,790.43
Provision of general risk
Retained profit 746,052,028.65 740,754,202.23
Total owner’ s equity attributable to parent company 4,853,488,708.14 4,854,173,682.43
Minority interests 128,990,191.38 107,921,283.49
Total owner’ s equity 4,982,478,899.52 4,962,094,965.92
Total liabilities and owner’ s equity 16,470,661,999.78 16,103,355,454.46
Legal Representative: Wu Dinggang
Person in charge of accounting works: Pang Haitao
Person in charge of accounting institute: Yang Jun
2. Balance Sheet of Parent Company
In RMB
Item March 31, 2021 March 31, 2020
Current assets:
Monetary funds 2,815,568,155.70 4,605,962,184.11
Trading financial assets 1,016,113,133.40 37,589,391.07
Derivative financial assets
Note receivable 259,552,018.68 286,990,200.00
Account receivable 1,412,255,771.35 1,019,299,017.40
Receivable financing 1,403,688,997.80 1,561,429,139.80
Accounts paid in advance 61,624,838.78 39,571,728.09
Other account receivable 57,048,384.71 49,093,918.57
Including: Interest receivable
Dividend receivable
Inventories 718,459,280.47 578,905,855.30
Contractual assets
Assets held for sale
Non-current assets maturing within one year
Other current assets 130,304,219.64 142,573,164.77
Total current assets 7,874,614,800.53 8,321,414,599.11
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
29
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Long-term equity investments 1,861,699,274.53 1,834,115,835.95
Investment in other equity instrument
Other non-current financial assets 548,148,931.34 548,148,931.34
Investment real estate 3,909,377.22 3,961,590.38
Fixed assets 1,216,967,117.05 1,229,803,474.56
Construction in progress 48,794,936.02 47,570,309.13
Productive biological assets
Oil and natural gas assets
Right-of-use assets
Intangible assets 474,746,704.55 479,923,618.32
Research and development costs 55,584,317.14 42,913,363.51
Goodwill
Long-term deferred expenses
Deferred income tax assets 102,112,716.18 103,462,284.33
Other non-current assets
Total non-current assets 4,311,963,374.03 4,289,899,407.52
Total assets 12,186,578,174.56 12,611,314,006.63
Current liabilities
Short-term borrowings 961,070,887.80 1,234,926,592.05
Trading financial liability 2,255,736.00 2,512,269.00
Derivative financial liability
Notes payable 2,779,772,716.35 2,510,288,511.69
Account payable 1,624,897,477.72 1,918,960,127.71
Accounts received in advance
Contractual liability 178,104,923.64 281,974,752.24
Wage payable 84,860,294.58 130,314,834.51
Taxes payable 12,451,118.30 19,582,700.30
Other accounts payable 673,838,162.33 624,090,798.72
Including: Interest payable
Dividend payable 3,866,628.25 3,866,628.25
Liability held for sale
Non-current liabilities due within one year 106,761,067.52 407,141,888.08
Other current liabilities 5,000,621.88 6,432,113.43
Total current liabilities 6,429,013,006.12 7,136,224,587.73
30
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Non-current liabilities:
Long-term loans 488,518,705.55 188,231,439.30
Bonds payable
Including: preferred stock
Perpetual capital securities
Lease liability
Long-term account payable
Long term employee compensation payable 9,804,235.21 10,571,526.69
Accrued liabilities 39,317,739.76 55,035,910.31
Deferred income 66,752,084.26 67,315,337.57
Deferred income tax liabilities 1,969,647.39 6,102,908.01
Other non-current liabilities
Total non-current liabilities 606,362,412.17 327,257,121.88
Total liabilities 7,035,375,418.29 7,463,481,709.61
Owners’ equity:
Share capital 1,044,597,881.00 1,044,597,881.00
Other equity instrument
Including: preferred stock
Perpetual capital securities
Capital public reserve 2,753,134,826.83 2,753,137,787.99
Less: Inventory shares 15,158,122.98 9,929,336.18
Other comprehensive income
Special reserve
Surplus reserve 416,146,624.75 416,146,624.75
Retained profit 952,481,546.67 943,879,339.46
Total owner’s equity 5,151,202,756.27 5,147,832,297.02
Total liabilities and owner’s equity 12,186,578,174.56 12,611,314,006.63
Legal Representative: Wu Dinggang
Person in charge of accounting works: Pang Haitao
Person in charge of accounting institute: Yang Jun
3. Consolidated Profit Statement
In RMB
Item Current period Last period
I. Total operating income 4,130,121,476.44 2,281,578,242.02
31
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Including: Operating income 4,130,121,476.44 2,281,578,242.02
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost 4,114,082,728.16 2,534,145,650.00
Including: Operating cost 3,462,713,769.04 1,991,759,544.67
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 27,280,660.16 18,907,987.65
Sales expense 470,854,477.88 371,060,681.20
Administrative expense 69,868,119.38 66,823,587.40
R&D expense 84,849,522.84 81,217,573.94
Financial expense -1,483,821.14 4,376,275.14
Including: Interest expenses 19,017,594.62 21,823,849.54
Interest income 32,955,063.89 36,615,193.00
Add: other income 13,160,582.16 10,962,097.40
Investment income (Loss is listed with “-”) 31,431,230.42 7,493,976.04
Including: Investment income on affiliated company and joint
-7,098,168.49 -131,480.96
venture
The termination of income recognition for financial
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 “-”) -17,465,727.43 -3,935,681.27
Loss of credit impairment (Loss is listed with “-”) -14,975,095.55 -33,262,321.33
Losses of devaluation of asset (Loss is listed with “-”) -14,938,223.91 -15,425,929.32
Income from assets disposal (Loss is listed with “-”) -132,879.85 262,008.65
III. Operating profit (Loss is listed with “-”) 13,118,634.12 -286,473,257.81
Add: Non-operating income 4,126,563.91 1,226,885.79
Less: Non-operating expense 450,581.59 509,324.06
32
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
IV. Total profit (Loss is listed with “-”) 16,794,616.44 -285,755,696.08
Less: Income tax expense 5,426,757.07 -6,990,752.22
V. Net profit (Net loss is listed with “-”) 11,367,859.37 -278,764,943.86
(i) Classify by business continuity
1.continuous operating net profit (net loss listed with ‘-”) 11,367,859.37 -278,764,943.86
2.termination of net profit (net loss listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s of parent company 5,297,826.42 -270,008,124.67
2.Minority shareholders’ gains and losses 6,070,032.95 -8,756,819.19
VI. Net after-tax of other comprehensive income -1,223,856.13 -5,014,374.15
Net after-tax of other comprehensive income attributable to owners
-751,052.75 -4,643,772.99
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 reclassified
-751,052.75 -4,643,772.99
subsequently to profit or loss
1.Other comprehensive income under equity method that
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
-751,052.75 -4,643,772.99
currency financial statements
7.Other
Net after-tax of other comprehensive income attributable to minority
-472,803.38 -370,601.16
shareholders
VII. Total comprehensive income 10,144,003.24 -283,779,318.01
33
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Total comprehensive income attributable to owners of parent
4,546,773.67 -274,651,897.66
Company
Total comprehensive income attributable to minority shareholders 5,597,229.57 -9,127,420.35
VIII. Earnings per share:
(i) Basic earnings per share 0.0051 -0.2585
(ii) Diluted earnings per share 0.0051 -0.2585
Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
realized 0 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
4. Profit Statement of Parent Company
In RMB
Item Current period Last period
I. Operating income 2,002,187,328.72 1,281,482,775.64
Less: Operating cost 1,884,584,795.96 1,184,575,349.81
Taxes and surcharge 12,864,364.47 11,663,936.82
Sales expenses 39,803,747.21 33,721,660.12
Administration expenses 28,593,297.77 27,845,465.65
R&D expenses 34,843,973.62 36,443,568.44
Financial expenses -3,887,945.46 -3,083,596.30
Including: interest expenses 15,877,999.09 18,493,137.60
Interest income 21,275,632.44 29,941,251.74
Add: other income 6,222,349.77 4,057,643.39
Investment income (Loss is listed with “-”) 26,150,697.17 5,887,302.00
Including: Investment income on affiliated Company and
-7,416,561.42
joint venture
The termination of income recognition for financial
assets measured by amortized cost (Loss is listed with “-”)
Net exposure hedging income (Loss is listed with “-”)
Changing income of fair value (Loss is listed with “-”) -21,219,724.67 -3,210,372.30
Loss of credit impairment (Loss is listed with “-”) -10,302,416.82 -22,678,326.56
Losses of devaluation of asset (Loss is listed with “-”) -1,578,459.71 -2,385,899.85
Income on disposal of assets (Loss is listed with “-”) -117,050.08 -4,964.88
II. Operating profit (Loss is listed with “-”) 4,540,490.81 -28,018,227.10
34
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Add: Non-operating income 1,278,023.93 125,200.11
Less: Non-operating expense
III. Total Profit (Loss is listed with “-”) 5,818,514.74 -27,893,026.99
Less: Income tax -2,783,692.47 -7,778,997.67
IV. Net profit (Net loss is listed with “-”) 8,602,207.21 -20,114,029.32
(i) continuous operating net profit (net loss listed with ‘-”) 8,602,207.21 -20,114,029.32
(ii) termination of net profit (net loss listed with ‘-”)
V. Net after-tax of other comprehensive income
(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 reclassified
subsequently to profit or loss
1.Other comprehensive income under equity method that
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
currency financial statements
7.Other
VI. Total comprehensive income 8,602,207.21 -20,114,029.32
VII. Earnings per share:
(i) Basic earnings per share 0.0082 -0.0193
(ii) Diluted earnings per share 0.0082 -0.0193
Legal Representative: Wu Dinggang
Person in charge of accounting works: Pang Haitao
Person in charge of accounting institute: Yang Jun
35
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
5. Consolidated Cash Flow Statement
In RMB
Item Current period Last period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor
3,373,434,107.23 2,514,448,244.56
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 143,775,589.37 110,892,572.91
Other cash received concerning operating activities 20,772,768.09 25,388,923.86
Subtotal of cash inflow arising from operating activities 3,537,982,464.69 2,650,729,741.33
Cash paid for purchasing commodities and receiving labor service 3,693,784,072.40 3,028,183,707.21
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 460,407,255.70 357,488,873.85
Taxes paid 81,424,772.89 80,120,060.82
Other cash paid concerning operating activities 270,888,821.50 188,388,232.21
Subtotal of cash outflow arising from operating activities 4,506,504,922.49 3,654,180,874.09
Net cash flows arising from operating activities -968,522,457.80 -1,003,451,132.76
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income 2,279,362.48
36
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Net cash received from disposal of fixed, intangible and other
226,967.80 600.00
long-term assets
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities 65,932,678.99 39,748,651.98
Subtotal of cash inflow from investing activities 66,159,646.79 42,028,614.46
Cash paid for purchasing fixed, intangible and other long-term
86,274,381.23 65,387,929.38
assets
Cash paid for investment 1,000,000,000.00 150,000,000.00
Net increase of mortgaged loans
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities 24,740.79
Subtotal of cash outflow from investing activities 1,086,299,122.02 215,387,929.38
Net cash flows arising from investing activities -1,020,139,475.23 -173,359,314.92
III. Cash flows arising from financing activities
Cash received from absorbing investment 15,000,000.00
Including: Cash received from absorbing minority shareholders’
15,000,000.00
investment by subsidiaries
Cash received from loans 647,079,820.49 976,420,210.00
Other cash received concerning financing activities 3,982,026.24
Subtotal of cash inflow from financing activities 666,061,846.73 976,420,210.00
Cash paid for settling debts 904,900,000.00 377,260,642.92
Cash paid for dividend and profit distributing or interest paying 19,467,766.75 23,019,861.96
Including: Dividend and profit of minority shareholder paid by
subsidiaries
Other cash paid concerning financing activities 6,339,329.84 358,999.60
Subtotal of cash outflow from financing activities 930,707,096.59 400,639,504.48
Net cash flows arising from financing activities -264,645,249.86 575,780,705.52
IV. Influence on cash and cash equivalents due to fluctuation in
-3,538,183.05 -3,198,606.93
exchange rate
V. Net increase of cash and cash equivalents -2,256,845,365.94 -604,228,349.09
Add: Balance of cash and cash equivalents at the period -begin 6,425,529,815.10 5,385,807,475.51
VI. Balance of cash and cash equivalents at the period -end 4,168,684,449.16 4,781,579,126.42
Legal Representative: Wu Dinggang
Person in charge of accounting works: Pang Haitao
Person in charge of accounting institute: Yang Jun
37
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
6. Cash Flow Statement of Parent Company
In RMB
Item Current period Last period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor
1,414,975,958.11 1,503,481,532.94
services
Write-back of tax received 80,886,642.50 68,849,689.93
Other cash received concerning operating activities 8,342,146.00 7,674,946.80
Subtotal of cash inflow arising from operating activities 1,504,204,746.61 1,580,006,169.67
Cash paid for purchasing commodities and receiving labor service 1,883,907,437.30 1,611,391,194.70
Cash paid to/for staff and workers 138,209,129.02 92,574,310.37
Taxes paid 19,528,320.95 19,950,761.92
Other cash paid concerning operating activities 65,698,344.94 83,323,378.97
Subtotal of cash outflow arising from operating activities 2,107,343,232.21 1,807,239,645.96
Net cash flows arising from operating activities -603,138,485.60 -227,233,476.29
II. Cash flows arising from investing activities:
Cash received from recovering investment
Cash received from investment income 661,434.48
Net cash received from disposal of fixed, intangible and other
221,343.80
long-term assets
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities 54,389,725.95 30,225,918.40
Subtotal of cash inflow from investing activities 54,611,069.75 30,887,352.88
Cash paid for purchasing fixed, intangible and other long-term
46,747,393.22 37,868,399.94
assets
Cash paid for investment 1,035,000,000.00 150,000,000.00
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities 97,662.47
Subtotal of cash outflow from investing activities 1,081,845,055.69 187,868,399.94
Net cash flows arising from investing activities -1,027,233,985.94 -156,981,047.06
III. Cash flows arising from financing activities
Cash received from absorbing investment
Cash received from loans 642,079,820.49 699,899,950.00
Other cash received concerning financing activities 57,660,735.85 5,230,480.90
38
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Subtotal of cash inflow from financing activities 699,740,556.34 705,130,430.90
Cash paid for settling debts 830,000,000.00 359,757,944.82
Cash paid for dividend and profit distributing or interest paying 18,628,079.68 20,706,333.52
Other cash paid concerning financing activities 9,281,338.94 56,113,405.64
Subtotal of cash outflow from financing activities 857,909,418.62 436,577,683.98
Net cash flows arising from financing activities -158,168,862.28 268,552,746.92
IV. Influence on cash and cash equivalents due to fluctuation in
-2,620,717.67 -98,749.36
exchange rate
V. Net increase of cash and cash equivalents -1,791,162,051.49 -115,760,525.79
Add: Balance of cash and cash equivalents at the period -begin 4,597,503,833.78 4,017,400,437.18
VI. Balance of cash and cash equivalents at the period -end 2,806,341,782.29 3,901,639,911.39
Legal Representative: Wu Dinggang
Person in charge of accounting works: Pang Haitao
Person in charge of accounting institute: Yang Jun
II. Explanation on financial statement adjustment
1. Financial statement adjustment at the beginning of the first year when implementation of new leasing
rules from 2021
√ Applicable □Not applicable
Whether to adjust the balance sheet account at the beginning of the year
√ Yes □No
(1) Consolidate balance sheet
In RMB
Item December 31, 2020 January 1, 2021 Adjustment amount
Current assets:
Monetary fund 6,594,786,789.98 6,594,786,789.98
Settlement provisions
Capital lent
Trading financial assets 47,242,339.07 47,242,339.07
Derivative financial assets
Note receivable 340,421,386.71 340,421,386.71
Account receivable 1,130,275,780.66 1,130,275,780.66
Receivable financing 1,632,388,702.83 1,632,388,702.83
Accounts paid in advance 30,105,373.40 30,070,303.06 -35,070.34
Insurance receivable
Reinsurance receivables
39
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Contract reserve of reinsurance receivable
Other account receivable 145,705,978.26 145,705,978.26
Including: Interest receivable
Dividend receivable
Buying back the sale of financial assets
Inventories 1,715,354,951.43 1,715,354,951.43
Contractual assets
Assets held for sale
Non-current asset due within one year
Other current assets 198,353,464.98 198,353,464.98
Total current assets 11,834,634,767.32 11,834,599,696.98 -35,070.34
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 76,982,822.38 76,982,822.38
Investment in other equity instrument
Other non-current financial assets 548,148,931.34 548,148,931.34
Investment real estate 53,888,462.00 53,888,462.00
Fixed assets 2,391,859,440.31 2,391,859,440.31
Construction in progress 60,775,088.96 60,775,088.96
Productive biological asset
Oil and gas asset
Right-of-use assets 9,818,834.44 9,818,834.44
Intangible assets 936,851,520.65 936,851,520.65
Expense on Research and Development 73,028,441.56 73,028,441.56
Goodwill
Long-term expenses to be apportioned
Deferred income tax asset 127,185,979.94 127,185,979.94
Other non-current asset
Total non-current asset 4,268,720,687.14 4,278,539,521.58 9,818,834.44
Total assets 16,103,355,454.46 16,113,139,218.56 9,783,764.10
Current liabilities:
40
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Short-term loans 1,336,209,050.55 1,336,209,050.55
Loan from central bank
Capital borrowed
Trading financial liability 4,584,076.51 4,584,076.51
Derivative financial liability
Note payable 4,439,607,982.34 4,439,607,982.34
Account payable 2,851,999,684.30 2,851,999,684.30
Accounts received in advance
Contractual liability 522,550,891.28 522,550,891.28
Selling financial asset of repurchase
Absorbing deposit and interbank deposit
Security trading of agency
Security sales of agency
Wage payable 290,321,776.05 290,321,776.05
Taxes payable 89,682,433.90 89,682,433.90
Other account payable 724,701,686.72 724,701,686.72
Including: Interest payable
Dividend payable 4,466,628.25 4,466,628.25
Commission charge and commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due within one year 407,825,150.74 412,825,431.41 5,000,280.67
Other current liabilities 22,923,698.73 22,923,698.73
Total current liabilities 10,690,406,431.12 10,695,406,711.79 5,000,280.67
Non-current liabilities:
Insurance contract reserve
Long-term loans 188,231,439.30 188,231,439.30
Bonds payable
Including: Preferred stock
Perpetual capital securities
Lease liability 4,783,483.43 4,783,483.43
Long-term account payable 1,705,323.91 1,705,323.91
Long-term wages payable 10,571,526.69 10,571,526.69
Accrual liability 62,392,735.07 62,392,735.07
41
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Deferred income 177,377,450.12 177,377,450.12
Deferred income tax liabilities 10,575,582.33 10,575,582.33
Other non-current liabilities
Total non-current liabilities 450,854,057.42 455,637,540.85 4,783,483.43
Total liabilities 11,141,260,488.54 11,151,044,252.64 9,783,764.10
Owner’s equity:
Share capital 1,044,597,881.00 1,044,597,881.00
Other equity instrument
Including: Preferred stock
Perpetual capital securities
Capital public reserve 2,683,837,229.12 2,683,837,229.12
Less: Inventory shares 9,929,336.18 9,929,336.18
Other comprehensive income -21,451,084.17 -21,451,084.17
Reasonable reserve
Surplus public reserve 416,364,790.43 416,364,790.43
Provision of general risk
Retained profit 740,754,202.23 740,754,202.23
Total owner’ s equity attributable to parent company 4,854,173,682.43 4,854,173,682.43
Minority interests 107,921,283.49 107,921,283.49
Total owner’ s equity 4,962,094,965.92 4,962,094,965.92
Total liabilities and owner’ s equity 16,103,355,454.46 16,113,139,218.56 9,783,764.10
Statement of adjustment:
The Company implemented the new leasing standards since 1 January 2021, and according to the cumulative impact of the first
implementation of new leasing standards, adjust the amount of items related to financial statements at the beginning of the first year
of implementation, without adjusting the information for comparable periods. For the operating lease prior to the first implementation
date, the company measures the leasing liability based on the present value of remaining lease payments discounted at the internal
resources-internal placement rate, at the date of initial implementation, and the right-of-use assets are adjusted as necessary according
to the sum of the leasing liabilities and the prepayment.
(2) Balance Sheet of Parent Company
In RMB
Item December 31, 2020 January 1, 2021 Adjustment amount
Current assets:
Monetary funds 4,605,962,184.11 4,605,962,184.11
Trading financial assets 37,589,391.07 37,589,391.07
Derivative financial assets
Note receivable 286,990,200.00 286,990,200.00
42
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Account receivable 1,019,299,017.40 1,019,299,017.40
Receivable financing 1,561,429,139.80 1,561,429,139.80
Accounts paid in advance 39,571,728.09 39,571,728.09
Other account receivable 49,093,918.57 49,093,918.57
Including: Interest receivable
Dividend receivable
Inventories 578,905,855.30 578,905,855.30
Contractual assets
Assets held for sale
Non-current assets maturing within one year
Other current assets 142,573,164.77 142,573,164.77
Total current assets 8,321,414,599.11 8,321,414,599.11
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments 1,834,115,835.95 1,834,115,835.95
Investment in other equity instrument
Other non-current financial assets 548,148,931.34 548,148,931.34
Investment real estate 3,961,590.38 3,961,590.38
Fixed assets 1,229,803,474.56 1,229,803,474.56
Construction in progress 47,570,309.13 47,570,309.13
Productive biological assets
Oil and natural gas assets
Right-of-use assets
Intangible assets 479,923,618.32 479,923,618.32
Research and development costs 42,913,363.51 42,913,363.51
Goodwill
Long-term deferred expenses
Deferred income tax assets 103,462,284.33 103,462,284.33
Other non-current assets
Total non-current assets 4,289,899,407.52 4,289,899,407.52
Total assets 12,611,314,006.63 12,611,314,006.63
Current liabilities
43
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Short-term borrowings 1,234,926,592.05 1,234,926,592.05
Trading financial liability 2,512,269.00 2,512,269.00
Derivative financial liability
Notes payable 2,510,288,511.69 2,510,288,511.69
Account payable 1,918,960,127.71 1,918,960,127.71
Accounts received in advance
Contractual liability 281,974,752.24 281,974,752.24
Wage payable 130,314,834.51 130,314,834.51
Taxes payable 19,582,700.30 19,582,700.30
Other accounts payable 624,090,798.72 624,090,798.72
Including: Interest payable
Dividend payable 3,866,628.25 3,866,628.25
Liability held for sale
Non-current liabilities due within one year 407,141,888.08 407,141,888.08
Other current liabilities 6,432,113.43 6,432,113.43
Total current liabilities 7,136,224,587.73 7,136,224,587.73
Non-current liabilities:
Long-term loans 188,231,439.30 188,231,439.30
Bonds payable
Including: preferred stock
Perpetual capital securities
Lease liability
Long-term account payable
Long term employee compensation payable 10,571,526.69 10,571,526.69
Accrued liabilities 55,035,910.31 55,035,910.31
Deferred income 67,315,337.57 67,315,337.57
Deferred income tax liabilities 6,102,908.01 6,102,908.01
Other non-current liabilities
Total non-current liabilities 327,257,121.88 327,257,121.88
Total liabilities 7,463,481,709.61 7,463,481,709.61
Owners’ equity:
Share capital 1,044,597,881.00 1,044,597,881.00
Other equity instrument
Including: preferred stock
44
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
Perpetual capital securities
Capital public reserve 2,753,137,787.99 2,753,137,787.99
Less: Inventory shares 9,929,336.18 9,929,336.18
Other comprehensive income
Special reserve
Surplus reserve 416,146,624.75 416,146,624.75
Retained profit 943,879,339.46 943,879,339.46
Total owner’s equity 5,147,832,297.02 5,147,832,297.02
Total liabilities and owner’s equity 12,611,314,006.63 12,611,314,006.63
Statement of adjustment: the parent company has no business applicable to the new leasing standard, there is no adjustment therefore.
2. Retrospective adjustment of the comparative data for initial new leasing rules from 2021
□Applicable √Not applicable
III. Audit report
Whether the Q1 report has been audited or not
□Yes √ No
The Q1 report of the Company has not been audited.
Changhong Meiling Co., Ltd.
Chairman: Wu Dinggang
20 April 2021
45
