Stock Code: 000521, 200521 Stock Abbreviation: Changhong Meiling, Hongmeiling BAnnouncement No.: 2024-022
Changhong Meiling Co., Ltd.The First Quarterly Report of 2024
The Company and whole members of the Board guarantee that the information disclosed is true, accurate andcomplete and there are no fictitious records, misleading statements or material omissions carried in the Report.
Important Note:
1. Board of Directors and the Supervisory Committee of Changhong Meiling Co., Ltd. (hereinafter referred to asthe Company) 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.
2. Mr. Wu Dinggang, Person in charge of the Company, Mr. Pang Haitao, head of accounting and Mr. Yang Jun,person in charger of accounting organ (accounting officer) hereby confirm that the financial information of thisQuarterly Report is authentic, accurate and complete.
3. The first quarterly report audited or not
□Yes √No
I. Main financial data(i) Main accounting data and financial indexesWhether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes √No
| Current Period | Same period of last year | Changes of this period over same period of last year | |
| Operating income (RMB) | 5,940,062,392.73 | 5,025,237,527.25 | 18.20% |
| Net profit attributable to shareholders of the listed company (RMB) | 155,536,230.57 | 122,540,351.10 | 26.93% |
| Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses (RMB) | 185,949,135.46 | 103,510,051.94 | 79.64% |
| Net cash flow arising from operating activities (RMB) | -114,083,183.60 | -372,008,676.48 | 69.33% |
| Basic earnings per share (RMB/Share) | 0.1510 | 0.1190 | 26.89% |
| Diluted earnings per share (RMB/Share) | 0.1510 | 0.1190 | 26.89% |
| Weighted average ROE | 2.64% | 2.34% | 0.30 percentage points up |
| End of this period | End of last period | Changes of this period-end over same period-end of last year | |
| Total assets (RMB) | 21,561,463,604.73 | 19,391,604,526.19 | 11.19% |
| Owners’ equity attributable to shareholders of listed company (RMB) | 5,980,802,290.29 | 5,824,782,654.09 | 2.68% |
(ii)Items of non-recurring gains and losses
√ Applicable □ Not applicable
In RMB
| Item | Current amount | Note |
| Gains/losses from the disposal of non-current asset (including the write-off that accrued for impairment of assets) | 36,334.95 | |
| Governmental subsidy calculated into current gains and losses(while closely related with the normal business of the Company, the government subsidy that accord with the provision of national policies and are continuously enjoyed in line with a certain standard quota or quantity are excluded) | 11,706,548.76 | Mainly due to government subsidies. |
| Gain and loss from change of the fair value arising from transactional monetary assets, transactional financial liabilities as held as well as the investment income arising from disposal of the transactional monetary assets, transactional financial liabilities and financial assets available for sale excluding the effective hedging transaction in connection with the Company’s normal business | -45,481,586.24 | Mainly due to the non cancelable orders and change of the fair value of forward foreign exchange contract changes |
| Switch back of the impairment for receivables that has impairment test independently | 730,284.97 | |
| Other non-operating income and expenses other than the above | -2,109,577.93 | |
| Less: impact on income tax | -4,947,542.79 | |
| Impact on minority shareholders’ equity (post-tax) | 242,452.19 | |
| Total | -30,412,904.89 | -- |
Details of other profit and loss items that meet the non-recurring profit and loss definition
□ Applicable √ Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.Explain the items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/lossin Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss(revised in 2023)
□ Applicable √ Not applicable
There are no items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/lossin Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss (revised in 2023).(iii)Particulars about material changes in items of main accounting statement and financial index andexplanations of reasons
√ Applicable □Not applicable
1.Changes and reasons of items in balance sheet
In RMB
| Item | Ending balance | Opening balance | Changes ratio | Reasons of changes |
| Trading financial assets | 693,164,688.08 | 39,236,447.63 | 1,666.63% | Mainly due to the purchase of wealth management products by the Company in the current period. |
| Account receivable | 2,375,000,927.75 | 1,633,706,889.06 | 45.37% | Mainly due to the increase in sales during the current period |
| Inventory | 3,402,387,173.63 | 2,022,738,412.97 | 68.21% | Mainly due to the increase in stocking for peak seasonin the current period. |
| Contract assets | 9,245,092.98 | 13,261,690.62 | -30.29% | Mainly due to the transfer of the Company's contract assets to accounts receivable in the current period |
| Non-current asset due within one year | 22,226,166.67 | 122,294,027.78 | -81.83% | Mainly due to the maturity of the Company's large-amount certificates of deposit in the current period |
| Other current assets | 316,348,294.36 | 225,419,883.07 | 40.34% | Mainly due to the increase in the Company's fixed deposits and value-added tax to be deducted during the current period |
| Creditor's rights investment | 624,913,378.80 | 420,537,485.54 | 48.60% | Mainly due to the increase in the Company's large certificates of deposit in the current period. |
| Trading financial Liabilities | 42,369,591.70 | 32,229,012.86 | 31.46% | Mainly due to the non cancelable orders and change of the fair value of forward foreign exchange contract changes |
| Account payable | 5,231,251,785.68 | 3,882,303,908.89 | 34.75% | Mainly due to the increase in the Company's procurement in the current period. |
2.Changes and reasons of items in profit statement
In RMB
| Item | Current period | Amount at the same period of last year | Changes ratio | Reasons of changes |
| Tax and extras | 26,505,967.26 | 39,314,902.23 | -32.58% | Mainly due to the payment of the waste electrical and electronic products disposal fund in the previous period, and there is none of that in the current period. |
| Other income | 30,658,322.37 | 11,993,948.27 | 155.61% | Mainly due to the Company's recognition of VAT deductible income in the current period |
| Investment earnings | 4,806,025.95 | 11,296,852.87 | -57.46% | Mainly due to the decrease in investment income obtained from the disposal of trading financial assets by the Company during the current period |
| Gains on changes in fair value | -36,212,338.39 | 1,581,886.04 | -2,389.19% | Mainly due to the non cancelable orders and change of the fair value of forward foreign exchange contract changes |
| Credit impairment loss | 1,826,872.78 | -15,886,816.82 | -111.50% | Mainly due to the reversal of the Company's bad debt provision in the current period |
| Non-operating income | 842,845.67 | 5,645,604.54 | -85.07% | Mainly due to the decrease in liquidated damages received by the Company during the period |
| Non-operating expenses | 2,952,423.60 | 633,242.26 | 366.24% | Mainly due to the provision of plant relocation expenses in the current period |
| Income tax expenses | 20,354,739.63 | 7,491,433.56 | 171.71% | Mainly due to the increase in income tax expense due to the increase in the Company's taxable income in the current period |
3.Changes and reasons of items in cash flow statement
In RMB
| Item | Current period | Amount at the same period of last year | Changes ratio | Reasons of changes |
| Tax refund received | 256,947,465.72 | 119,861,984.88 | 114.37% | Mainly due to the YOY increase in export tax rebates received by the Company during the current period |
| Other cash received concerning operation activities | 12,948,696.05 | 23,940,223.82 | -45.91% | Mainly due to the YOY decrease in the guarantee deposit recovered by the Company in the current period |
| Cash received from recovery of investment | 100,000,000.00 | 150,000,000.00 | -33.33% | Mainly due to the YOY decrease in the recovery of the Company's wealth management products in the current period |
| Cash received from absorbing investment | 2,535,371.20 | 11,517,830.00 | -77.99% |
Mainly due to that the Companyreceived dividends fromassociates in the previous period,but there is no such dividend inthe current period
| Cash paid for investments | 980,000,000.00 | 560,000,000.00 | 75.00% | Mainly due to the YOY increase in the Company's purchase of wealth management products and large-amount certificates of deposit in the current period. |
| Cash received from borrowing | 560,575,979.93 | 248,567,208.06 | 125.52% | Mainly due to the increase in bank borrowings obtained by the Company during the period |
| Other cash received concerning financing activities | 39,855,330.30 | 250,646,926.33 | -84.10% | Mainly due to the YOY decrease in limited recovery of the Company's guarantee deposits in |
| Item | Current period | Amount at the same period of last year | Changes ratio | Reasons of changes |
| the current period. | ||||
| Cash paid for dividend and profit distributing or interest paying | 6,720,779.16 | 4,998,050.47 | 34.47% | Mainly due to the YOY increase in bank interest paid by the Company in the current period |
| Other cash paid concerning financing activities | 21,636,276.00 | 45,458,808.90 | -52.40% | Mainly due to the YOY decrease in restrictions of the Company guarantee deposits in the current period |
| Effect of exchange rate changes on cash | -432,457.38 | -11,739,344.83 | 96.32% | Mainly due to the change of exchange rate in the Period |
II. Shareholders
(i)Total number of common shareholders and preference shareholders with voting rights recovered andtop ten shareholders
In Shares
| Total number of common shareholders at the end of report period | 42,282 | Total preference shareholders with voting rights recovered at end of reporting period (if applicable) | 0 | ||||||
| Top ten shareholders | |||||||||
| Shareholder’s name | Nature of shareholder | Proportion of shares held | Amount of shares held | Amount of lock-up shares held | Information of shares pledged, tagged or frozen | ||||
| State of share | Amount | ||||||||
| Sichuan Changhong Electric Co., Ltd. | State-owned legal person | 24.12% | 248,457,724 | 0 | - | -- | |||
| HKSCC | Overseas Legal person | 6.42% | 66,131,044 | 0 | - | - | |||
| Hefei Industry Investment Holding (Group) Co., Ltd. | State-owned legal person | 3.68% | 37,923,401 | 0 | - | - | |||
| The National Social Security Fund 101 portfolio | Domestic non-state-owned legal person | 3.44% | 35,423,661 | 0 | - | - | |||
| CHANGHONG (HK) TRADING LIMITE | Overseas Legal person | 2.63% | 27,077,797 | 0 | - | - | |||
| CAOSHENGCHUN | Overseas natural person | 1.43% | 14,766,086 | 0 | - | - | |||
| ICBC－Guangfa Jufeng hybrid securities investment fund | Domestic non-state-owned legal person | 1.36% | 14,000,078 | 0 | - | - | |||
| Industrial Bank－Southern Xingrun value one-year holding period of hybrid securities investment fund | Domestic non-state-owned legal person | 1.34% | 13,797,353 | 0 | - | - | |||
| ICBC－South Excellent Growth Stock Securities Investment Fund | Domestic non-state-owned legal person | 1.25% | 12,823,000 | 0 | - | - | |||
| China Construction Bank Co., Ltd.- Jiashixin Consumer Stock Securities Investment Fund | Domestic non-state-owned legal person | 1.17% | 12,082,100 | 0 | - | - | ||||
| Top ten shareholders with unrestricted shares held | ||||||||||
| Shareholder’s name | Amount of unrestricted shares held | Type of shares | ||||||||
| Type | Amount | |||||||||
| Sichuan Changhong Electric Co., Ltd. | 248,457,724 | RMB ordinary shares | 248,457,724 | |||||||
| HKSCC | 66,131,044 | Domestically listed foreign shares | 66,131,044 | |||||||
| Hefei Industry Investment Holding (Group) Co., Ltd. | 37,923,401 | RMB ordinary shares | 37,923,401 | |||||||
| The National Social Security Fund 101 portfolio | 35,423,661 | RMB ordinary shares | 35,423,661 | |||||||
| CHANGHONG (HK) TRADING LIMITE | 27,077,797 | Domestically listed foreign shares | 27,077,797 | |||||||
| CAOSHENGCHUN | 14,766,086 | Domestically listed foreign shares | 14,766,086 | |||||||
| ICBC－Guangfa Jufeng hybrid securities investment fund | 14,000,078 | RMB ordinary shares | 14,000,078 | |||||||
| Industrial Bank－Southern Xingrun value one-year holding period of hybrid securities investment fund | 13,797,353 | RMB ordinary shares | 13,797,353 | |||||||
| ICBC－South Excellent Growth Stock Securities Investment Fund | 12,823,000 | RMB ordinary shares | 12,823,000 | |||||||
| China Construction Bank Co., Ltd.- Jiashixin Consumer Stock Securities Investment Fund | 12,082,100 | RMB ordinary shares | 12,082,100 | |||||||
| Explanation on associated relationship among the aforesaid shareholders | Among the above shareholders, CHANGHONG (HK) TRADING LIMITED (hereinafter referred to as Hong Kong Changhong) is the wholly-owned subsidiary of Sichuan Changhong Electric Co., Ltd., the foregoing shareholders constitute persons of uniform action. There existed no associated relationship or belong to the concerted actors as specified in the Measures for the Administration of Information Disclosure of Shareholder Equity Changes of Listed Companies among Sichuan Changhong Electric Co., Ltd, Hong Kong Changhong and other top 8 shareholders, The company neither knows whether there is any association among other shareholders, nor knows whether other shareholders belong to the persons acting in concert that is stipulated in the “Administrative Measures on Information Disclosure of Changes in Shareholding of Listed Companies”. | |||||||||
| Explanation on top ten shareholders involving margin business (if applicable) | Not applicable | |||||||||
Information of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10shareholders of unrestricted tradable shares participating in the lending of shares in securities lending andborrowing business
□Applicable ?Not applicable
The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed comparedwith the previous period due to the securities lending/returning,
□Applicable ?Not applicable
(ii)Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the endof the report period
□ Applicable √Not applicable
III. Other important matters
√ Applicable □ Not applicable
| Overview | Date for disclosure | Information index for temporary report disclosure |
| Through the resolution passed by the Company's board of directors, it’s agreed that the Company shall establish an ESG management organizational structure and set up an ESG management committee under the board of directors of the Company, which is composed of six directors-Mr. Wu Dinggang, Mr. Zhong Ming, Mr. Zhao Qilin, Mr. Kou Huameng, Mr. Hu Zhaogui and Ms. Mou Wen (independent directors)-of the board of directors of the Company and the chairman is Mr. Wu Dinggang, taking effect from the date of deliberation and approval of the board of directors, and the term of office of the above members is the same as that of the board of directors. | February 20,2024 | Juchao Website:http://www.cninfo.com.cn（No.: 2024-004 and 2024-005） |
| Through the resolution passed by the Company's board of directors, it’s agreed that the Company will invest 88 million yuan to renovate the front-end production line of refrigerators in the Hefei manufacturing base, in order to enhance the Company's production and manufacturing capacity of refrigerators in the Hefei base and enhance the product market competitiveness. | February 20,2024 | Juchao Website:http://www.cninfo.com.cn（No.: 2024-004） |
| Through the resolution of the board of directors of the Company, it’s agreed that Sichuan Changhong Air Conditioning Co., Ltd., a subsidiary of the Company, will invest 100 million yuan by its own funds to establish a wholly-owned subsidiary, Sichuan Changhong Air Conditioning Intelligent Home Appliance Technology Co., Ltd. (tentative name, subject to industrial and commercial approval), to engage in related business with the manufacturing and sales of variable frequency drive control boards in the air conditioning industry (including special air conditioners) as the core. | March 15,2024 | Juchao Website:http://www.cninfo.com.cn（No.: 2024-006） |
| Through the resolution of the Company's board of directors and supervisory board, it’s agreed to the 2023 profit distribution plan of the Company. Based on the total share capital of 1,029,923,715 shares as of December 31, 2023, a cash dividend of 3 yuan (including tax) will be distributed to all shareholders for every 10 shares, without bonus shares or conversion of reserve funds into share capital. It’s expected to distribute a cash dividend of 308,977,114.50 yuan(including tax). | March 30,2024 | Juchao Website:http://www.cninfo.com.cn（No.: 2024-007, 2024-008 and 2024-010） |
| Through the resolution of the Company's board of directors, it’s agreed to appoint Pan-China Certified Public Accounts (LLP) as the auditing agency for the Company's 2024 financial report and internal control, with a term of one year. | March 30,2024 | Juchao Website:http://www.cninfo.com.cn（No.: 2024-007 and 2024-011） |
| Through the resolution of the Company's board of directors and supervisory board, it’s agreed that the subsidiary of the Company, Hefei Meiling Nonferrous Metal Products Co., Ltd., will write off a total of 3,092,614.56 yuan in bad debts of part accounts receivable that cannot be recovered. | March 30,2024 | Juchao Website:http://www.cninfo.com.cn（No.: 2024-007, 2024-008 and 2024-012） |
| Through the resolution of the board of directors of the Company, it’s agreed that the Company and its subsidiaries will carry out forward foreign exchange fund trading business from July 1, 2024 to June 30, 2025, with a transaction balance not exceeding 1.199 billion US dollars (mainly including US dollars, Australian dollars, Euros, and all other foreign currencies converted into US dollars), and the delivery period of a single transaction shall not exceed one year. | March 30,2024 | Juchao Website:http://www.cninfo.com.cn（No.: 2024-007 and 2024-013） |
| Through the resolution of the Company's board of directors and supervisory board, it’s agreed to the Company’s formulated "Shareholders' Return Plan for the Next Three Years (2021-2023) by the Company". | March 30,2024 | Juchao Website:http://www.cninfo.com.cn（No.: 2024-007 and 2024-008） |
| Overview | Date for disclosure | Information index for temporary report disclosure |
| Through the resolution of the Company's board of directors and supervisory board, it’s agreed that the Company will increase the expected amount of no more than 1,138 million yuan (excluding tax) of routine related party transactions including purchase of raw materials and commodities between the Company and its subsidiaries and Sichuan Changhong Electronic Holding Group Co., Ltd. in 2024. After this increase, it’s expected that the total amount of routine related party transactions between the Company and its subsidiaries and Sichuan Changhong Electronic Holding Group Co., Ltd., including purchasing goods, receiving services, and leasing, will not exceed 2,938 million yuan (excluding tax) in 2024. | March 30,2024 | Juchao Website:http://www.cninfo.com.cn（No.: 2024-007 and 2024-008） |
| Through the resolution of the board of directors of the Company, it’s agreed that the Company and its subsidiaries can apply for a special line of up to RMB 400 million for the bill pool to the Hefei Branch of Industrial Bank Co., Ltd; and apply to Hefei Branch Ping An Bank Co., Ltd. for a special credit line of up to RMB 500 million for the bill pool. | March 30,2024 | Juchao Website:http://www.cninfo.com.cn（No.: 2024-007 and 2024-015） |
IV. Quarterly financial statements(i) Financial statement
1. Consolidate Balance Sheet
Prepared by Changhong Meiling Co., Ltd.
In RMB
| Item | Ending balance | Opening balance |
| Current assets: | ||
| Monetary fund | 7,922,075,565.97 | 8,840,685,525.71 |
| Settlement provisions | ||
| Capital lent | ||
| Trading financial assets | 693,164,688.08 | 39,236,447.63 |
| Derivative financial assets | ||
| Note receivable | 228,500.00 | 267,174.50 |
| Account receivable | 2,375,000,927.75 | 1,633,706,889.06 |
| Receivable financing | 1,761,920,592.80 | 1,641,858,740.34 |
| Account paid in advance | 40,216,846.55 | 45,738,805.90 |
| Insurance receivable | ||
| Reinsurance receivables | ||
| Contract reserve of reinsurance receivable | ||
| Other account receivable | 88,885,982.14 | 82,953,808.97 |
| Including: Interest receivable | ||
| Dividend receivable |
| Buying back the sale of financial assets | ||
| Inventory | 3,402,387,173.63 | 2,022,738,412.97 |
| Contract assets | 9,245,092.98 | 13,261,690.62 |
| Assets held for sale | ||
| Non-current asset due within one year | 22,226,166.67 | 122,294,027.78 |
| Other current assets | 316,348,294.36 | 225,419,883.07 |
| Total current assets | 16,631,699,830.93 | 14,668,161,406.55 |
| Non-current assets: | ||
| Loans and payments on behalf | ||
| Creditor's rights investment | 624,913,378.80 | 420,537,485.54 |
| Other Creditor's rights investment | ||
| Long-term account receivable | ||
| Long-term equity investment | 117,123,664.62 | 112,745,811.75 |
| Investment in other equity instrument | ||
| Other non-current financial assets | 674,139,515.48 | 674,139,515.48 |
| Investment real estate | 50,442,654.58 | 50,920,487.71 |
| Fixed assets | 2,168,396,156.23 | 2,136,912,034.28 |
| Construction in progress | 54,879,258.35 | 69,920,839.20 |
| Productive biological asset | ||
| Oil and gas asset | ||
| Right-of-use assets | 49,798,868.38 | 49,993,400.61 |
| Intangible assets | 886,849,631.15 | 886,455,434.73 |
| Expense on research and development | 95,193,192.66 | 97,177,535.34 |
| Goodwill | ||
| Long-term expenses to be apportioned | 33,377,822.98 | 35,698,465.62 |
| Deferred income tax asset | 153,713,398.16 | 162,340,495.03 |
| Other non-current assets | 20,936,232.41 | 26,601,614.35 |
| Total non-current asset | 4,929,763,773.80 | 4,723,443,119.64 |
| Total assets | 21,561,463,604.73 | 19,391,604,526.19 |
| Current liabilities: | ||
| Short-term loans | 1,247,208,244.26 | 1,134,102,419.03 |
| Loan from central bank | ||
| Capital borrowed | ||
| Trading financial liability | 42,369,591.70 | 32,229,012.86 |
| Derivative financial liability | ||
| Note payable | 6,291,342,844.45 | 5,904,387,089.98 |
| Account payable | 5,231,251,785.68 | 3,882,303,908.89 |
| Accounts received in advance | 24,036.69 | 55,949.90 |
| Contract liabilities | 474,082,425.90 | 405,698,756.02 |
| Selling financial asset of repurchase | ||
| Absorbing deposit and interbank deposit | ||
| Security trading of agency | ||
| Security sales of agency | ||
| Wage payable | 392,902,465.90 | 443,612,216.56 |
| Taxes payable | 95,345,968.55 | 91,917,751.71 |
| Other account payable | 1,026,377,817.65 | 884,714,721.30 |
| Including: Interest payable | ||
| Dividend payable | 4,654,612.12 | 5,384,407.44 |
| Commission charge and commission payable | ||
| Reinsurance payable | ||
| Liability held for sale | ||
| Non-current liabilities due within one year | 49,295,443.93 | 48,822,798.47 |
| Other current liabilities | 19,272,913.38 | 19,172,541.50 |
| Total current liabilities | 14,869,473,538.09 | 12,847,017,166.22 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term loans | 108,000,000.00 | 108,000,000.00 |
| Bonds payable | ||
| Including: Preferred stock | ||
| Perpetual capital securities | ||
| Lease liability | 41,615,065.51 | 43,488,292.70 |
| Long-term account payable | 714,113.18 | 800,347.84 |
| Long-term wages payable | 11,119,405.82 | 11,417,181.82 |
| Accrual liability | 33,452,563.44 | 32,054,790.39 |
| Deferred income | 126,075,154.57 | 132,977,494.33 |
| Deferred income tax liabilities | 17,526,566.05 | 21,814,466.43 |
| Other non-current liabilities |
| Total non-current liabilities | 338,502,868.57 | 350,552,573.51 |
| Total liabilities | 15,207,976,406.66 | 13,197,569,739.73 |
| Owner’s equity: | ||
| Share capital | 1,029,923,715.00 | 1,029,923,715.00 |
| Other equity instrument | ||
| Including: Preferred stock | ||
| Perpetual capital securities | ||
| Capital public reserve | 2,805,503,457.77 | 2,805,503,457.77 |
| Less: Treasury shares | ||
| Other comprehensive income | -21,170,679.74 | -20,704,362.05 |
| Special reserve | 12,196,535.23 | 11,246,811.91 |
| Surplus public reserve | 477,053,194.82 | 477,053,194.82 |
| Provision of general risk | ||
| Retained profit | 1,677,296,067.21 | 1,521,759,836.64 |
| Total owner’ s equity attributable to parent company | 5,980,802,290.29 | 5,824,782,654.09 |
| Minority interests | 372,684,907.78 | 369,252,132.37 |
| Total owner’ s equity | 6,353,487,198.07 | 6,194,034,786.46 |
| Total liabilities and owner’ s equity | 21,561,463,604.73 | 19,391,604,526.19 |
Legal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
2. Consolidated Profit Statement
In RMB
| Item | Current period | Last period |
| I. Total operating income | 5,940,062,392.73 | 5,025,237,527.25 |
| Including: Operating income | 5,940,062,392.73 | 5,025,237,527.25 |
| Interest income | ||
| Insurance gained | ||
| Commission charge and commission income | ||
| II. Total operating cost | 5,749,860,510.77 | 4,890,898,229.81 |
| Including: Operating cost | 5,144,642,937.71 | 4,288,663,147.76 |
| 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 | 26,505,967.26 | 39,314,902.23 |
| Sales expense | 417,478,652.51 | 396,134,102.96 |
| Administrative expense | 70,645,748.97 | 77,699,944.12 |
| R&D expense | 132,424,604.27 | 127,905,030.12 |
| Financial expenses | -41,837,399.95 | -38,818,897.38 |
| Including: Interest expenses | 6,712,613.15 | 5,614,718.39 |
| Interest income | 48,736,992.02 | 39,706,698.73 |
| Add: other income | 30,658,322.37 | 11,993,948.27 |
| Investment income | 4,806,025.95 | 11,296,852.87 |
| Including: Investment income on affiliated company and joint venture | 6,580,724.07 | 6,156,271.45 |
| The termination of income recognition for financial assets measured by amortized cost | -589,721.74 | -2,610,734.55 |
| Exchange income | ||
| Net exposure hedging income | ||
| Income from change of fair value | -36,212,338.39 | 1,581,886.04 |
| Loss of credit impairment | 1,826,872.78 | -15,886,816.82 |
| Losses of devaluation of asset ( | -10,212,156.71 | -12,758,737.76 |
| Income from assets disposal | 36,334.95 | |
| III. Operating profit (Loss is listed with “-”) | 181,104,942.91 | 130,566,430.04 |
| Add: Non-operating income | 842,845.67 | 5,645,604.54 |
| Less: Non-operating expense | 2,952,423.60 | 633,242.26 |
| IV. Total profit (Loss is listed with “-”) | 178,995,364.98 | 135,578,792.32 |
| Less: Income tax expense | 20,354,739.63 | 7,491,433.56 |
| V. Net profit (Net loss is listed with “-”) | 158,640,625.35 | 128,087,358.76 |
| (i) Classify by business continuity | ||
| 1. Net profit from continuing operations (net loss listed with “-”) | 158,640,625.35 | 128,087,358.76 |
| 2. Net profit from termination of operations (net loss listed with “-”) |
| (ii) Classify by ownership | ||
| 1.Net profit attributable to owner’s of parent company | 155,536,230.57 | 122,540,351.10 |
| 2.Minority shareholders’ gains and losses | 3,104,394.78 | 5,547,007.66 |
| VI. Net after-tax of other comprehensive income | -444,448.87 | 1,054,218.75 |
| Net after-tax of other comprehensive income attributable to owners of parent company | -466,317.69 | 812,237.88 |
| (i) Other comprehensive income items which will not be reclassified subsequently to profit of loss | ||
| 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 | -466,317.69 | 812,237.88 |
| 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 | -466,317.69 | 812,237.88 |
| 7.Other | ||
| Net after-tax of other comprehensive income attributable to minority shareholders | 21,868.82 | 241,980.87 |
| VII. Total comprehensive income | 158,196,176.48 | 129,141,577.51 |
| Total comprehensive income attributable to owners of parent Company | 155,069,912.88 | 123,352,588.98 |
| Total comprehensive income attributable to minority shareholders | 3,126,263.60 | 5,788,988.53 |
| VIII. Earnings per share: | ||
| (i) Basic earnings per share | 0.1510 | 0.1190 |
| (ii) Diluted earnings per share | 0.1510 | 0.1190 |
Enterprise combine under the same control in the Period, the combined party realized net profit of 0.00 Yuanbefore combination, and realized 0.00 Yuan at last period for combined party.Legal Representative: Wu Dinggang
Person in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
3. 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 services | 5,613,732,114.23 | 4,561,489,109.85 |
| 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 | 256,947,465.72 | 119,861,984.88 |
| Other cash received concerning operating activities | 12,948,696.05 | 23,940,223.82 |
| Subtotal of cash inflow arising from operating activities | 5,883,628,276.00 | 4,705,291,318.55 |
| Cash paid for purchasing commodities and receiving labor service | 5,173,799,436.04 | 4,319,024,021.57 |
| 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 | 543,975,632.36 | 500,241,447.73 |
| Taxes paid | 94,056,077.45 | 75,109,108.69 |
| Other cash paid concerning operating activities | 185,880,313.75 | 182,925,417.04 |
| Subtotal of cash outflow arising from operating activities | 5,997,711,459.60 | 5,077,299,995.03 |
| Net cash flows arising from operating activities | -114,083,183.60 | -372,008,676.48 |
| II. Cash flows arising from investing activities: |
| Cash received from recovering investment | 100,000,000.00 | 150,000,000.00 |
| Cash received from investment income | 2,535,371.20 | 11,517,830.00 |
| Net cash received from disposal of fixed, intangible and other long-term assets | 95,000.00 | 114,445.00 |
| Net cash received from disposal of subsidiaries and other units | ||
| Other cash received concerning investing activities | 58,819,533.09 | 54,625,623.42 |
| Subtotal of cash inflow from investing activities | 161,449,904.29 | 216,257,898.42 |
| Cash paid for purchasing fixed, intangible and other long-term assets | 75,706,154.21 | 69,827,261.89 |
| Cash paid for investment | 980,000,000.00 | 560,000,000.00 |
| Net increase of mortgaged loans | ||
| Net cash received from subsidiaries and other units obtained | ||
| Other cash paid concerning investing activities | 8,997.51 | |
| Subtotal of cash outflow from investing activities | 1,055,706,154.21 | 629,836,259.40 |
| Net cash flows arising from investing activities | -894,256,249.92 | -413,578,360.98 |
| III. Cash flows arising from financing activities | ||
| Cash received from absorbing investment | ||
| Including: Cash received from absorbing minority shareholders’ investment by subsidiaries | ||
| Cash received from loans | 560,575,979.93 | 248,567,208.06 |
| Other cash received concerning financing activities | 39,855,330.30 | 250,646,926.33 |
| Subtotal of cash inflow from financing activities | 600,431,310.23 | 499,214,134.39 |
| Cash paid for settling debts | 448,206,057.48 | 435,000,000.00 |
| Cash paid for dividend and profit distributing or interest paying | 6,720,779.16 | 4,998,050.47 |
| Including: Dividend and profit of minority shareholder paid by subsidiaries | ||
| Other cash paid concerning financing activities | 21,636,276.00 | 45,458,808.90 |
| Subtotal of cash outflow from financing activities | 476,563,112.64 | 485,456,859.37 |
| Net cash flows arising from financing activities | 123,868,197.59 | 13,757,275.02 |
| IV. Influence on cash and cash equivalents due to fluctuation in exchange rate | -432,457.38 | -11,739,344.83 |
| V. Net increase of cash and cash equivalents | -884,903,693.31 | -783,569,107.27 |
| Add: Balance of cash and cash equivalents at the period-begin | 8,391,128,635.87 | 6,113,222,069.76 |
| VI. Balance of cash and cash equivalents at the period-end | 7,506,224,942.56 | 5,329,652,962.49 |
Legal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
（ii）The Company started implementing the updated accounting standards commencing from 2024and adjusted the relevant items in the financial statements at the beginning of the very year involvedin the initial implementation of the said standards
□Applicable √Not applicable
(iii) Audit report
Whether the First quarterly report has been audited or not
□Yes √ No
The First quarterly report of the Company has not been audited.
Board of Directors of Changhong Meiling Co., Ltd.
April 20, 2024。