Changhong Meiling Co., Ltd.The First Quarterly Report of 2021
April 2021
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021Section I. Important Notes
Board of Directors and the Supervisory Committee of Changhong Meiling Co., Ltd. (hereinafter referred to as theCompany) and its directors, supervisors and senior executives should guarantee the reality, accuracy andcompletion of the quarterly report, there are no any fictitious statements, misleading statements or importantomissions 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 andMr.Yang Jun, person in charger of accounting organ (accounting officer) hereby confirm that the Financial Reportof 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.
Section II. Basic situation of the Company
I. Main accounting data and financial indexesWhether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes√ No
This Period Same period of last year
Changes of this period over sameperiod of last yearOperating income (RMB) 4,130,121,476.44
2,281,578,242.02
81.02%
Net profit attributable to shareholders ofthe listed company (RMB)
5,297,826.42
-270,008,124.67
101.96%
Net profit attributable to shareholders ofthe listed company after deductingnon-recurring gains and losses (RMB)
-26,469,858.74
-282,956,643.92
90.65%
Net cash flow arising from operatingactivities (RMB)
-968,522,457.80
-1,003,451,132.76
3.48%
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
End of this period End of last period
Changes of this period-end oversame period-end of last yearTotal assets (RMB) 16,470,661,999.78
16,103,355,454.46
2.28%
Net assets attributable to shareholder oflisted company (RMB)
4,853,488,708.14
4,854,173,682.43
-0.01%
Items of non-recurring gains and losses
√ Applicable □ Not applicable
In RMBItem
Amount from year-begin to
period-end
NoteGains/losses from the disposal of non-current asset (including thewrite-off that accrued for impairment of assets)
-489,522.55
Found in “Asset disposal income”,“Non-operating expenditure”Governmental subsidy reckoned into current gains/losses (notincluding the subsidy enjoyed in quota or ration according tonational standards, which are closely relevant to enterprise’sbusiness)
13,160,582.16
Found in “Other income”
trading financial assets, derivative finan
| cial assets, trading |
21,063,671.48
Found in “Investment income” and“Changes in fair value gains/losses”
liability, derivative financial liability and oth
| er debt investment, excluded effective hedging business relevant with normal |
operations of the CompanyOther non-operating income and expenditure except for theaforementioned items
4,032,625.02
Found in “Non-operating income”,“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 CompaniesOffering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according tothe lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering TheirSecurities 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&AAnnouncement 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 sharesTotal number of common shareholders at the end ofreport period
85,066
Total preference shareholders
| with voting rights recovered at |
end of reporting period (ifapplicable)
Top ten shareholdersShareholder’s name
Nature ofshareholder
Proportion
of shares
held
Amount ofshares held
Amount oflock-up shares
held
Number of share
pledged/frozenState ofshare
Amo
untSichuan Changhong Electric Co., Ltd.
State-owned legalperson
23.79%
| Proportion |
248,457,724
-
-
| Hefei Industrial Investment Holding (Group) Co., |
Ltd.
State-owned legalperson
4.58%
47,823,401
-
-
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021Changhong (Hong Kong) Trade Co., Ltd.
Foreign legalperson
2.59%
27,077,797
-
-
Ma Guobin
Domestic natureperson
2.23%
23,333,500
-
-
CAO SHENGCHUN
Foreign natureperson
1.41%
14,766,086
-
-
Caitong Fund- Ningbo Bank-
| Haitong Xingtai (Anhui) Emerging Industry Investment Fund |
(Limited Partnership)
Domesticnon-state-ownedlegal person
1.03%
10,733,452
-
-
| Securities A/C for Repurchase under the name of |
Changhong Meiling Co., Ltd.
Domestic generallegal person
0.80%
8,388,888
-
-
Philip Securities (H.K.) Co., Ltd.
Foreign legalperson
0.60%
6,296,913
-
-
Gu Jie
Domestic natureperson
0.41%
4,285,700
-
-
Wang Yumei
Domestic natureperson
0.41%
4,267,600
-
-
Top ten shareholders with unrestricted shares heldShareholder’s name
Amount of
held
Type of sharesType AmountSichuan Changhong Electric Co., Ltd. 248,457,724
| unrestricted shares |
RMB ordinary shares 248,457,724
Hefei Industrial Investment Holding (Group) Co., Ltd. 47,823,401
RMB ordinary shares 47,823,401
Changhong (Hong Kong) Trade Co., Ltd. 27,077,797
Domestically listedforeign shares
27,077,797
Ma Guobin 23,333,500
RMB ordinary shares 23,333,500
CAO SHENGCHUN 14,766,086
Domestically listedforeign shares
14,766,086
Caitong Fund- Ningbo Bank-
| Haitong Xingtai (Anhui) Emerging Industry |
Investment Fund (Limited Partnership)
10,733,452
RMB ordinary shares 10,733,452
| Securities A/C for Repurchase under the name of Changhong Meiling |
Co., Ltd.
8,388,888
Domestically listedforeign shares
8,388,888
Philip Securities (H.K.) Co., Ltd. 6,296,913
Domestically listedforeign shares
6,296,913
Gu Jie 4,285,700
RMB ordinary shares 4,285,700
Wang Yumei 4,267,600
RMB ordinary shares 4,267,600
| Explanation on |
associated
Kong Changhong) is the wholly-owned subsidiary of Sichuan Changhong Electric Co., Ltd. (He
| reinafter referred |
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021relationship
aforesaidshareholders
| among the | to as Sichuan Changhong); except the shares of the Company directly held by Hong Kong Changhong, 6,296,913 |
shares of B-
constitute persons of
stock are also held through Phillip Securities (Hong Kong) Co., Ltd., the foregoing shareholders
uniform action. There existed no associated relationship or belong to the concerted actors asspecified in the Measures for the Administration of Information Disclosure of Shareholder Equity Changes of
Listed Companies among Sichuan Changhong, Hong Kong C
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 subscr
the “Administrative Measures on Information Disclosure of Changes in Shareholding of Listed Companies”.
| ibe 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 | |
| Explanation on top ten common |
shareholdersinvolving
(if applicable)
| margin business | As of March 31, 2021, among the top 10 common shareholders, Ma Guobin holds 22,514,000 shares of the Company through customer credit trading secured account of Founder Securities Co., Ltd., and 819,500 shares |
hold through common securities account, thus 23,333,500
shareholder-Gu Jie
| holds 4,285,700 shares of the Company through customer credit trading secured account of |
China Merchants Securities Co., Ltd.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 sharesare 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 onstock 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 agreementdealing 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-backagreement 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
Section III. Significant EventsI. Particulars about material changes in items of main accounting statement and financialindex and explanations of reasons
√ Applicable □Not applicable
(i) Changes and reasons of items in balance sheet
In RMBItem Ending balance Opening balance
Changesratio
Item
| Money funds | 4,408,281,323.05 |
6,594,786,789.98
-
| 33.16% | Mainly due to the purchase of financial products and net cash 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 |
| Advance payment | 58,012,556.17 |
30,105,373.40
| 92.70% | Mainly due to the advance purchase payment increased in the Period |
| Inventory | 2,667,019,319.18 |
1,715,354,951.43
| 55.48% | Mainly due to the gain in yield in the Period |
-of-use asset
| Right | 22,258,350.11 |
-
| 100.00% | Mainly due to the implementation of new leasing standards in the Period |
| Employee compensation payable | 198,470,767.14 |
290,321,776.05
-
| 31.64% | Mainly due to the payment of wages in the Period |
| Taxes payable | 61,038,028.05 |
89,682,433.90
-
| 31.94% | Mainly due to |
-conditioner increased in the Period
| the VAT retention credit from subsidiary Changhong Air | ||
| Non |
-
| current liabilities due within one year | 115,715,827.98 |
407,825,150.74
-
| 71.63% | Mainly due to the repayment of long |
-
| term loans due within one year in the Period | ||
| Other current liabilities |
22,923,698.73
| 34,135,600.19 | 48.91% | Mainly due to the taxes on contract liabilities increased in the 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
liability
| Lease | 12,940,572.85 |
-
| 100.00% | Mainly due to the implementation of new leasing standards in the Period |
| Deferred income tax liabilities | 6,268,762.89 |
10,575,582.33
-
| 40.72% | Mainly due to the reversal of deferred income tax liabilities in the Period |
(ii) Changes and reasons of items in profit statement
In RMB
Item
Amount at the
period
Amount at thesame period of lastyear
Changesratio
Reasons of changes
| Operation revenue | 4,130,121,476.44 | 2,281,578,242.02 | 81.02% | Mainly due to the impact of COVID |
-
| 19 outbreak in the same 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 surcharges | 27,280,660.16 | 18,907,987.65 | 44.28% | Same as “Operation revenue” |
-
| 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 in fair value | 17,465,727.43 |
-
-
| 3,935,681.27 | 343.78% | Mainly due to the fair value changes in forward foreign exchange contract |
| Investment income | 31,431,230.42 | 7,493,976.04 | 319.42% | Mainly due to the y |
-o-
| y increase of forward foreign exchange contract delivery proceeds | ||
| Credit impairment loss |
-
-
| 14,975,095.55 | 33,262,321.33 | 54.98% | Mainly due to the impairment loss of note receivable and account receivable increased from a year earlier |
-
| Assets disposal income | 132,879.85 | 262,008.65 |
-
| 150.72% | Mainly due to the loss from part of the assets disposal in the Period |
| Income tax expenses | 5,426,757.07 |
-
| 6,990,752.22 | 177.63% | The income tax expenses increased due to the taxable income amount increased in the Period |
| Minority interest | 6,070,032.95 |
-
| 8,756,819.19 | 169.32% | Profitability from part of the non |
-wholly-
(iii) Changes and reasons of items in cash flow statement
In RMBItem
Amount at the
period
Amount at thesame period oflast year
Changes
ratio
Reasons of changesCash received from selling goods andproviding services
owned subsidiariesincreased from a year earlier3,373,434,107.23
| 3,373,434,107.23 | 2,514,448,244.56 | 34.16% | Cash received from selling goods and providing services increased on a y |
-o-y basisOther cash paid concerning operationactivities
| 270,888,821.50 | 188,388,232.21 | 43.79% | The restricted monetary funds increased in the Period |
Cash received from investment income
0.00
| 2,279,362.48 |
-
| 100.00% | At same period last year, received dividends from joint venture subsidiaries while no such amount occurred in the Period |
Net cash received from disposal of
long-term assets
| fixed assets, intangible assets and other | 226,967.80 | 600.00 | 37,727.97% | The cash received from disposal of fixed assets and intangible assets are increased from a year earlier |
| Other cash received in connection with | 65,932,678.99 | 39,748,651.98 | 65.87% | The income from forward foreign exchange contract |
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021investment activities
livery proceeds increased from a year earlierCash paid for acquisition andconstruction of fixed assets, intangibleassets and other long-term assets
de
86,274,381.23
| 86,274,381.23 | 65,387,929.38 | 31.94% | The cash flow paid for purchasing fixed assets in the Period increased on a y |
-o-y basisCash paid for investments
| 1,000,000,000.00 | 150,000,000.00 | 566.67% | Purchase of financial management in the Period increased on a y |
-o-y basisCash received from borrowing
| 647,079,820.49 | 976,420,210.00 |
-
| 33.73% | The loans obtained in the Period declined on a y |
-o-
Cash paid for debt repayment
| y basis | |||
| 904,900,000.00 | 377,260,642.92 | 139.86% | The cash paid for debt service in the Period increased on a y |
-o-y basisOther cash paid concerning financingactivities
| 6,339,329.84 | 358,999.60 | 1,665.83% | Cash paid for buy |
-back of B-stock in the PeriodII. 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 41
st session of 9
th
BOD, 22
nd session of 9
th
BOS and Fourth Extraordinary Shareholder’sMeeting of 2020 on 14 August 2020 and 12 October respectively, deliberated and approved the “Proposal onRenewal of Financial Services Agreement with Sichuan Changhong Group Finance Co., Ltd and RelatedTransactions”, and agreed the Company to continued financial services cooperation and renewal of the FinancialServices Agreement for a period of three years with Sichuan Changhong Group Finance Co. Ltd. (hereinafterreferred to as Changhong Finance Company). Changhong Finance Company shall provide a series of financialservices such as deposit and loan in its business scope according to the requirements of the Company and itssubsidiaries.The Company held the 4
th
session of 10
th BOD, 3
rd
session of 10
thBOS and Fifth Extraordinary Shareholder’sMeeting of 2020 on 11 December 2020 and 19 December respectively, deliberated and approved the “Proposal onthe Expected Continuing Related Transactions between the Company and its Subsidiaries and Sichuan ChanghongGroup Finance Co., Ltd for year of 2021”.The related transactions between the company and its subsidiaries and Changhong Finance Company from thebeginning of the year to the end of the reporting period are as follows:
In RMBItem Opening balance
Increased during
the Period
Decreased duringthe Period
Ending balance
Interest,handling chargepaid or received
I. Savings in Changhong GroupFinance Company
2,798,256,008.52 10,043,782,166.63 10,530,709,013.62 2,311,329,161.53 20,366,873.01II. Borrowings from Changhong
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021Item Opening balance
Increased during
the Period
Decreased during
the Period
Ending balance
Interest,handling chargepaid 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
Overview Date for disclosure
Information index for temporary
report disclosure
After review and approval by the resolution of the BOD and BOS, it was agreed that thecompany would use the idle raised funds with 120 million yuan at most (the quota can be
used on a rolling basis) to invest in the high-security, good-liquidity and capital-
| guaranteed |
financial products with maturity within one year.
approval by AGM of 2020 of the Company.
March 3, 2021
| The matter is subject to the deliberation and | Juchao Website: |
http://www.cninfo.com.cn(No. 2021-008, No. 2021-
No. 2021-010)
| 009 and | ||
| After review and approval by the resolution of the BOD, it was agreed that the subordinate |
controlling subsidiary Zhongke Meiling to newly established a wholly-owned subsidiary-
Anhui Linghe Medical Devices Co., Ltd. (tentative name, subject to the approve
| d name with |
Industry & Commerce authority) with 10 million yuan.
March 3, 2021
http://www.cninfo.com.cn(No. 2021-008)
| Juchao Website: | ||
| After review and approval by the resolution of the BOD and BOS, it was agreed that the |
Company provide a credit guarant
one year to its subordinate controlling subsidiary Changmei Domestic Appliance.
| The matter |
is subject to the deliberation and approval by AGM of 2020 of the Company.
March 3, 2021
http://www.cninfo.com.cn(No. 2021-008, No. 2021-
| 009 and |
No. 2021-011)
24.4276 millio
| n yuan, achieving the cost reduction and efficiency gains to reduce manufacturing costs and further enhance the market competitiveness of the company’s |
products.
March 3, 2021
http://www.cninfo.com.cn(No. 2021-008)
| Juchao Website: | ||
| 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 |
between 1 July 2021 and 30 June 2022. The balance of trading shall not exc
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.
March 31, 2021
http://www.cninfo.com.cn(No. 2021-013 and No. 2021-019)
| Juchao Website: | ||
| After review and approval by the resolution of the BOD, it was agreed that the Company to |
formulated the “Shareholder Return Plan for the Next Three Years (2021-2023)”.
is subject to the deliberation and approval by AGM of 2020 of the Company.
March 31, 2021
| The matter | Juchao Website: |
http://www.cninfo.com.cn(No. 2021-013)
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021After review and approval by the resolution of the BOD, it was agreed that
subsidiary of the company- Zhongshan Changhong to write-off a bad debt of
| 1,657,332.46 yuan in total, which was really beyond collection. The matter is subject to the deliberation |
and approval by AGM of 2020 of the Company.
March 31, 2021
http://www.cninfo.com.cn(No. 2021-013 and No. 2021-020)
| Juchao Website: | ||
| After review and approval by the resolution of the BOD, agreed to appoint Mr. Tang Youdao as the Vice President of the Company, his office term will same as the term as the current |
BOD.
March 31, 2021
http://www.cninfo.com.cn(No. 2021-013)
| Juchao Website: | ||
| After review and approval by the resolution of the BOD and BOS, it was agreed that |
controlling subsidiary -
million yuan credit guarantee line to its wholly-own subsidiary- Anhui Tuoxing Techno
| logy Co., Ltd with guarantee period of one year. The matter is subject to the deliberation and |
approval by AGM of 2020 of the Company.
March 31, 2021
http://www.cninfo.com.cn(No. 2021-013, No. 2021-
| 014 and |
No. 2021-021)After review and
institutions as: up to 300 million yuan from Hefei Branch of Industrial Bank Co., ltd, up to
| 300 million yuan from Hefei Branch of Ping An Bank Co., ltd, up to 300 million yuan from Hefei Economic Development Zone Branch of Huishang Bank Co., Ltd., up to 300 million |
yuan from Hefei Branch of China Merchants Bank and up to 50 million yuan from Hef
Branch of CITIC Bank.
| The matter is subject to the deliberation and approval by AGM of |
2020 of the Company.
March 31, 2021
http://www.cninfo.com.cn
(No. 2021-013 and No. 2021-022)
After review and approval by the resolution of the BOD, agreed to re-appoints
| Juchao Website: | ||
| 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 |
shareholders’ general meeting to au
Company.
March 31, 2021
| thorize management of the Company to determine its annual audit remuneration, according to the industry standards and actual audit works of the company. The matter is subject to the deliberation and approval by AGM of 2020 of the | Juchao Website: |
http://www.cninfo.com.cn
(No. 2021-013 and No. 2021-017)
as the staff supervisor of 10
th BOS and securities affairs representative due to persona
| l reasons. To ensure that the structure of the BOS conforms to the relevant legal requirements, the staff congress held on 30 March 2021, after voting by the staff representative, agreed to |
elected Ms. Sun Hongying as the staff supervisor of the 10
thBOS,
expiration of the 10
thBOS.
March 31, 2021
| term of office shall commence from the date of deliberation and approved by Staff Congress to the date of | Juchao Website: |
http://www.cninfo.com.cn
(No. 2021-023)
(iii) Progress of shares buy-back
√Applicable □ Not applicable
The company’s 40
thsession of the ninth board of directors, the 21
stsession of the ninth board of supervisors, andthe 3rdextraordinary general meeting of shareholders in 2020 held on July 27, 2020 and August 18, 2020deliberated 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 centralizedbidding transactions, within the 12 months since the Buy-back of B share proposal approved by Shareholders
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021general Meeting. The price of buy-back shall not exceed HK$ 2,21 per share (inclusive), and shall not be higherthan 150% of the average trading price of B shares for the 30 trading days prior to the date when the buy-backproposal 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 24July 2020(HKD1=CNY0.9023), equivalent to not less than HK$55,413,942.15 (inclusive) and not exceedingHK$ 110,827,884.30 (inclusive). (the actual amount of HKD is based on the exchange rate on the date of purchaseof 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 accountfor repurchase, accounting for 0.8031% of the company’s total share capital, the highest transaction price wasHK$2.21/share, the lowest transaction price was HK$1.87/share, and the total amount of self-owned funds paidwas 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 bycentralized bidding through a dedicated securities account for repurchase, accounting for 0.2716% of thecompany’s total share capital, the highest transaction price was HK$2.21/share, the lowest transaction price wasHK$2.15/share, and the total amount of self-owned funds paid was HK$6,247,402.13(excluding transaction feessuch 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 onappointed 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, 3November, 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 Periodfrom 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 fromactual 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.
2. Derivative investment
√ Applicable □Not applicable
In 10 thousand Yuan
Operator
Relatedrelationshi
p
relatedtrade ornot
Type
Initialinvestment
Start date End date
Investmentamount atperiod-begin
| Whether |
Amount
period
Amountsales in thereportingperiod
| purchased in the reporting | Amount of reserve for |
devaluatio
n ofwithdrawi
ng (ifapplicable)
Investmentamount atperiod-end
Ratio ofinvestmentamount atperiod-end innet
Company atperiod-end
Actual
| assets of the | gains/losses in |
period
Financialinstitution
N/A No
Forwardforeignexchange
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
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 capitalLawsuit involved (if applicable) Not applicableDisclosure date for approval from the Board forinvestment of derivatives (if applicable)
March 28, 2020Disclosure date for approval from board ofshareholders for investment of derivatives (ifapplicable)
May 30, 2020
Risk analysis and controlling measures forderivatives holdings in the Period (including but
not limited to market risk, liquidity risk,
| credit |
risks, operation risk and law risks etc.)
Risk analysis:
1. Market risk: domestic and international economic situation changes may lead to exchange rate fluctuations, forward foreign
under certain market risk. Forward forei
| gn exchange business is aiming to reducing impact on corporate profits by foreign exchange settlement and sale |
prices, exchange rate fluctuations. The Company will follow up the exchange fluctuation, on the basis of target rate determined from the business
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
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021level.
2. Liquidity risk: all foreign exchange transactions are based on a reasonable estimate of the future import and export busin
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 origina
| l foreign exchange contracts |
with contract price, which leads the risk of income uncertainty. So the Company chose Bank of China, Agricultural Bank of Chi
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.
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 ri
| sk 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 forw
are processing. The Company will strengthen legal review, and choose good bank to carry out this kind of business as to risk control.
| ard foreign exchange transactions | |
| Risk analysis and controlling measures for derivatives holdings in the Period (including but not limited to market risk, liquidity risk, credit |
risks, operation risk and law risks etc.)
The Company determines fair value in accordance with the Chapter VII “Determination of Fair Value” carried in the Accounting Standards for B
Enterprises No.22 - Recognition and Measurement of Financial Instruments. Fair-value is basically obtained according to pri
| ces offered by bank and other |
pricing services. While fair-
prices given by contracts signed during the reporting period with bank. Th
| e differences are identified as trading financial assets and liabilities. During the |
reporting period, forward foreign exchange contracts and losses of the Company is 38.5294 million yuan.Specific principle of the accounting policy andcalculation for derivatives in the Periodcompared with last period in aspect of majorchanges
Not applicable
risk control by independent directors
Upon inspection, the independent directors of the Company believes that: during
| Special opinion on derivative investment and | 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 |
conducted within the authorization scope under general meeting and board meeting. The Company conducts no foreign exchange transactions on th
of getting profit only, all of the forward foreign exchange transactions are operates based on normal operating and productio
| n, which is relying on specific |
business operations with purpose of avoiding the preventing the risks in exchange rate. T
beneficial to prevent the exchange risks exposed by import and export business and thus met its requirement for operation dev
| elopment. There was no |
speculative operation, no break of relevant rules and regulations and relevant business was conducted under corresponding decision-
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021Interests of the Company and entire shareholders, especially minority shareholders, were not prejudiced.
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021V. Progress of investment projects with raised funds
√ Applicable □Not applicable
(i) Particular about process of the fund raisedThe 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 24
th session of the 9
th board of directors, the 13
th session of the 9
thboard ofsupervisors, and the second extraordinary general meeting of shareholders in 2019,it was agreed that the companyto change the unused raised funds of 120 million yuan from the sub-project “annual additional 600000 sets ofmedium and large volume environmental protection and energy-saving freezer intelligent production line” underthe fund raise project -"Intelligent Manufacturing Construction Project" and put into the "Production base projectof annual output of 2 million washing machines(Phase II) "; and agreed the company to terminate theimplementation of “Intelligent Life Project” and use the remaining proceeds of the project and interest fromfinancial management to permanently replenish the working capital. Up to now, the company regulates the use offunds 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 (includingthe amount of permanent supplementary working capital) actually used in total, balance of the dedicated fundraising account was 145,133,593.35 yuan (including interest income of 3,868,587.54 yuan and maturity income ofthe bank financial management 38,511,235.70 yuan). Among them, from January to March 2021, the companyused 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 ofwhich 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 areready for use, and the remaining payment is till in the process of payment. The cumulative proceeds amounted to86,328,918.14 yuan and 37,676,856.31 yuan remain (including 3,880,593.68 yuan financial management incomeand 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 beencompleted. As of the end of the reporting period, the cumulative proceeds of “Construction of intelligent R&Dcapability and new products development of the intelligent appliance technology” amounted to 540,764,219.90yuan (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)
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021Being deliberated and approved by 31
st
session of 9
th
BOD, 16
th session of 9
thBOS and Fourth ExtraordinaryShareholders Meeting of 2019, it was agreed that the company to change the use and investment of some of thefunds raised in the “intelligent research and development project”, and use them to purchase intelligentinfrastructure platform construction and software R & D platforms and other R & D assets from SichuanChanghong Electric Co., Ltd.and its subsidiaries, in order to completed the sub-project “intelligent R&Dmanagement platform construction” under the “intelligent research and development project”. However, due tothe certain changes outside the environment during the trading period, material uncertainty has arisen regardingthe timing and outcome of the completion of the delivery of the underlying assets of the transaction. In order toeffectively safeguard the interest of the listed company and all shareholders, considering that the listed companyhas 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 7
th
session of 10
th BOD and 6
th
session of 10
thBOS held on 19 April2021, agreed the company to terminated the purchasing of R&D assets, such as intelligent infrastructural platformconstruction and software development platform from Sichuan Changhong and its subsidiary as well as the relatedtransactions. The amount of the related transaction termination amounted to 46.6173 million yuan. Aftertransaction terminated, the remain fund raise of “intelligent R&D capacity construction and new productdevelopment 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 24
thsession of the ninth board of directors of the company, the 13
thsession of the ninth boardof supervisors, and the 2
nd
extraordinary shareholders’ meeting in 2019 passed and approved the company toterminate the implementation of the “Intelligent life project” and use the remaining raised funds and financialmanagement interest of the project to permanently supplement the working capital. The company has withdrawnthe remaining funds raised and interest income from this account, a total of 305,843,051.27 yuan, to permanentlysupplement 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 2021Estimation on accumulative net profit from the beginning of the year to the end of next report period to be lossprobably or the warning of its material change compared with the corresponding period of the last year andexplanation on reason
□ Applicable √ Not applicable
VII. Major contracts for daily operations
□ Applicable √ Not applicable
VIII. Trust financing
√Applicable □ Not applicable
In 10 thousand YuanType Capital resources Amount for entrust Undue balance Overdue amountBank financing products
Idle own funds 100,000
100,000
Total 100,000
100,000
Details of the single major amount, or high-risk trust investment with low security, poor fluidity andnon-guaranteed:
√Applicable □ Not applicable
In 10 thousand Yuan
Trustee institution(or name of trustee)
TrusteetypeProduct typeAmount
offunds
Start date
Expirydate
Capital investment purpose
Criteria forfixingreward
| Source |
Referenc
rate ofreturn
Anticipated income(ifapplicable)
| e annual | Actual |
gains/losses
inperiod
Actual
| collected |
gains/los
ses inperiod
ofreserve
fordevaluation ofwithdrawing
(ifapplicab
le)
Whetherapproved bylegalprocedure(Y/N)
| Amount | Whether |
hasentrustfinanceplan inthefuture
Summary of
index (ifapplicable)
Hefei Branch ofBank of East Asia(China) Co., Ltd.
Bank
Principal-guaranteedwithfloatingincome
10,000
| the items and related query | ||
Idleownfunds
January15, 2021
July 15,2021
linked to exchange rate fluctuation
| s so that depositors can obtain corresponding |
returns on the basis of certain risks.
Annualizedreturns:
3.60%
3.60%
181.00
- - N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2021-003)
Mianyang Branchof Bank ofCommunicationsCo., Ltd.
Bank
Principal-guaranteedwithfloatingincome
20,000
Idleownfunds
January18, 2021
April 19,2021
| The funds raised from the structured deposit products of Bank of Communications are operated uniformly by the Bank of Communications, and |
business man
Bank of China, and included in the
| payment scope of deposit reserves and deposit insurance premiums. The embedded derivatives of a product are lined to exchange rates, interest rates, |
commodities indexes and other targets.
Annualizedreturns:
3.15%
3.15%
157.07
- - N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2021-003)
Anhui Branch ofBank ofCommunicationsCo., Ltd.
Bank
Principal-guaranteedwithfloatingincome
10,000
Idleownfunds
January19, 2021
April 19,2021
| The funds raised from the structured |
deposit
include
| d in the unified operation and management of the internal funds of the |
Bank of China, and i
commodities indexes and other targets.
Annualizedreturns:
3.15%
3.15%
| ncluded in the payment scope of deposit reserves and deposit insurance premiums. The embedded derivatives of a product are lined to exchange rates, interest rates, |
77.67
- - N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2021-003)
Hefei Branch ofBank of ChinaLimited
Bank
Guaranteed
andminimumreturn
10,000
| capital |
Idleownfunds
January18, 2021
July 14,2021
transactions. The princi
| pal part raised is included in the unified operation and management of the internal funds of the Bank of China, and included in the payment scope of deposit reserves and deposit insurance premiums. Products embedded derivatives are partly invested |
in deriv
is linked to derivatives.
Annualizedreturns:
3.63%
3.63%
| atives markets such as exchange rates, interest rates, commodities, and indices, and the final product performance |
176.03
- - N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2021-003)
Hefei Branch ofBohai Bank Co.,Ltd.
Bank
Principal-guaranteedwithfloatingincome
5,000
Idleownfunds
January20, 2021
July 21,2021
mid-rate of the U.S. dollar
| against |
Japanese Yen exchange rate
Annualizedreturns:
3.50%
3.50%
87.26
- - N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2021-003)
Chengdu Branch ofBohai Bank Co.,Ltd.
Bank
Principal-guaranteedwithfloatingincome
10,000
Idleownfunds
January20, 2021
July 21,2021
| A structured deposit product whose derivatives are partially linked to the |
mid-
Japanese Yen exchange rate
Annualizedreturns:
3.50%
3.50%
| rate of the U.S. dollar against |
174.52
- - N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2021-004)
| Mianyang branch of |
Bank of ChinaLimited
Bank
Guaranteed
andminimumreturn
20,000
| capital |
Idleownfunds
January18, 2021
April 20,2021
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 included in the unified operation and management of the internal funds of the |
Bank of Ch
indices, and the final product perf
| ormance 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.
Annualizedreturns:
3.54%
3.54%
178.45
- - N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2021-003)
Hefei ChangdongBranch of
and CommercialBank of ChinaLimited
Bank
Principal-guaranteedwithfloatingincome
10,000
| Industrial |
Idleownfunds
January26, 2021
April 28,2021
products a
| re linked to the performance of the US dollar/Japanese Yen exchange rate in the international markets during the observation period. Returns of the investors are depend on the performance of the US dollar against the Japanese Yen |
over the observation period.
Annualizedreturns:
3.30%
3.30%
83.18
- - N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2021-005)
Hefei Branch ofChina EverbrightBank Co., Ltd.
Bank
Principal-guaranteedwithfloatingincome
5,000
Idleownfunds
January15, 2021
April 15,2021
| This product is a RMB structured deposit product with embedded financial derivative instruments. The bank will invest the raised structured deposit funds in bank time deposits, and at the same time invest in financial derivative |
transac
financial
| derivative transactions and the bank deposit interest together constitute |
the income of structured deposit products.
Annualizedreturns:
3.00%
3.00%
37.50
- - N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2021-004)
Total 100,000 -- -- -- -- -- -- 1,152.68 - -- -- -- -- --
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 thereporting period.XI. Registration form for receiving research, communication and interview in the reportperiod
□Applicable √Not applicable
The Company had no receiving research, communication or interview in the report period.
Section IV. Financial StatementI. Financial statement
1. Consolidate balance sheet
Prepared by Changhong Meiling Co., Ltd.
In RMBItem March 31, 2021 March 31, 2020Current 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
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021Other 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
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
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 DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
2. Balance Sheet of Parent Company
In RMBItem March 31, 2021 March 31, 2020Current 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
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
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021Non-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 DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
3. Consolidated Profit Statement
In RMBItem Current period Last periodI. Total operating income 4,130,121,476.44
2,281,578,242.02
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
venture
-7,098,168.49
| Including: Investment income on affiliated company and joint |
-131,480.96
The termination of income recognition for financialassets 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
1,226,885.79
| 4,126,563.91 |
Less: Non-operating expense
509,324.06
| 450,581.59 |
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021IV. 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 ownersof parent company
-751,052.75
-4,643,772.99
(I) Other comprehensive income items which will not bereclassified 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
subsequently to profit or loss
-751,052.75
| (ii) Other comprehensive income items which will be reclassified |
-4,643,772.99
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
-751,052.75
-4,643,772.99
7.Other
Net after-tax of other comprehensive income attributable to minorityshareholders
-472,803.38
-370,601.16
VII. Total comprehensive income 10,144,003.24
-283,779,318.01
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021Total comprehensive income attributable to owners of parentCompany
4,546,773.67
-274,651,897.66
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, andrealized 0 Yuan at last period for combined partyLegal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
4. Profit Statement of Parent Company
In RMBItem Current period Last periodI. 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 andjoint venture
-7,416,561.42
The termination of income recognition for financialassets 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
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 bereclassified 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
subsequently to profit or loss
| (II) Other comprehensive income items which will be reclassified |
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 DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
5. Consolidated Cash Flow Statement
In RMBItem Current period Last periodI. Cash flows arising from operating activities:
Cash received from selling commodities and providing laborservices
3,373,434,107.23
2,514,448,244.56
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
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021Net cash received from disposal of fixed, intangible and otherlong-term assets
226,967.80
600.00
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-termassets
86,274,381.23
65,387,929.38
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’investment by subsidiaries
15,000,000.00
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 bysubsidiaries
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 inexchange rate
-3,538,183.05
-3,198,606.93
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 DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
6. Cash Flow Statement of Parent Company
In RMBItem Current period Last periodI. Cash flows arising from operating activities:
Cash received from selling commodities and providing laborservices
1,414,975,958.11
1,503,481,532.94
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 otherlong-term assets
221,343.80
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-termassets
46,747,393.22
37,868,399.94
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 activitiesCash 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
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021Subtotal 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 inexchange rate
-2,620,717.67
-98,749.36
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 DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang JunII. 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 RMBItem December 31, 2020 January 1, 2021
Current assets:
Monetary fund 6,594,786,789.98
Adjustment amount
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
-
Insurance receivable
| 35,070.34 | ||
Reinsurance receivables
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021Contract 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
Intangible assets 936,851,520.65
| 9,818,834.44 | ||
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
Total assets 16,103,355,454.46
| 9,818,834.44 | ||
16,113,139,218.56
| 9,783,764.10 |
Current liabilities:
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
Other current liabilities 22,923,698.73
| 5,000,280.67 | ||
22,923,698.73
Total current liabilities 10,690,406,431.12
10,695,406,711.79
Non-current liabilities:
Insurance contract reserve
5,000,280.67
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
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 firstimplementation of new leasing standards, adjust the amount of items related to financial statements at the beginning of the first yearof implementation, without adjusting the information for comparable periods. For the operating lease prior to the first implementationdate, the company measures the leasing liability based on the present value of remaining lease payments discounted at the internalresources-internal placement rate, at the date of initial implementation, and the right-of-use assets are adjusted as necessary accordingto the sum of the leasing liabilities and the prepayment.
(2) Balance Sheet of Parent Company
In RMBItem December 31, 2020 January 1, 2021
Adjustment amount
Current assets:
Monetary funds 4,605,962,184.11
Adjustment amount
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
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
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
Changhong Meiling Co., Ltd.The First Quarterly Report of 2021Perpetual 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 reportWhether 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 Dinggang20 April 2021