CHANGHONGMEILINGCO.,LTD.
Semi-AnnualReport2025
August2025
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
CHANGHONGMEILINGCO.,LTDSEMI-ANNUALFINANCIALREPORT2025(Unaudited)I.AuditreportWhetherthesemi-annualreportisaudited
□Yes?NoThecompany'ssemi-annualfinancialreporthasnotbeenauditedII.FinancialStatementStatementinFinancialNotesarecarriedinRMB/CNY
1.ConsolidatedBalanceSheetPreparedbyCHANGHONGMEILINGCO.,LTD.
June30,2025
InRMB
Item
| Item | June30,2025 | January1,2025 |
| Currentassets: | ||
| Monetaryfunds | 9,480,979,069.79 | 10,492,450,750.61 |
| Settlementprovisions | ||
| Capitallent | ||
| Tradingfinancialassets | 2,136,929,526.59 | |
| Derivativefinancialassets | 44,278,588.05 | 72,010,074.43 |
| Notereceivable | ||
| Accountreceivable | 3,506,647,092.19 | 1,527,978,374.48 |
| Receivablefinancing | 965,174,858.85 | 1,516,987,953.83 |
| Accountspaidinadvance | 64,160,196.63 | 60,352,345.27 |
| Insurancereceivable | ||
| Reinsurancereceivables |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Contractreserveofreinsurancereceivable
| Contractreserveofreinsurancereceivable | ||
| Otheraccountreceivable | 55,585,833.84 | 135,391,270.79 |
| Including:Interestreceivable | ||
| Dividendreceivable | 12,124,951.70 | |
| Buyingbackthesaleoffinancialassets | ||
| Inventories | 3,930,240,031.50 | 3,514,968,009.34 |
| Including：Dataresources | ||
| Contractualassets | 1,316,305.32 | 2,763,866.97 |
| Assetsheldforsale | ||
| Non-currentassetduewithinoneyear | 499,403,885.22 | 60,242,921.84 |
| Othercurrentassets | 668,438,057.11 | 562,030,362.98 |
| Totalcurrentassets | 21,353,153,445.09 | 17,945,175,930.54 |
| Non-currentassets: | ||
| Loansandpaymentsonbehalf | ||
| Debtinvestment | 1,578,030,312.23 | 1,474,153,793.17 |
| Otherdebtinvestment | ||
| Long-termaccountreceivable | ||
| Long-termequityinvestment | 84,715,253.90 | 81,511,146.82 |
| Investmentinotherequityinstrument | ||
| Othernon-currentfinancialassets | 674,073,432.44 | 676,094,304.44 |
| Investmentrealestate | 65,158,804.83 | 66,720,850.69 |
| Fixedassets | 2,213,277,937.59 | 2,218,850,660.12 |
| Constructioninprogress | 137,461,480.68 | 97,807,983.40 |
| Productivebiologicalasset | ||
| Oilandgasasset | ||
| Right-of-useassets | 159,067,320.89 | 113,784,190.78 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Intangibleassets
| Intangibleassets | 1,000,308,845.16 | 994,429,966.05 |
| Including：Dataresources | ||
| ExpenseonResearchandDevelopment | 107,799,601.75 | 74,710,694.74 |
| Including：Dataresources | ||
| Goodwill | ||
| Long-termexpensestobeapportioned | 25,123,293.83 | 33,336,772.23 |
| Deferredincometaxasset | 146,356,862.03 | 176,953,941.27 |
| Othernon-currentasset | 81,709,327.93 | 19,073,662.23 |
| Totalnon-currentasset | 6,273,082,473.26 | 6,027,427,965.94 |
| Totalassets | 27,626,235,918.35 | 23,972,603,896.48 |
| Currentliabilities: | ||
| Short-termloans | 1,261,549,788.31 | 766,747,286.01 |
| Loanfromcentralbank | ||
| Capitalborrowed | ||
| Tradingfinancialliability | ||
| Derivativefinancialliability | 53,273,870.31 | 156,359,680.92 |
| Notepayable | 10,087,209,450.61 | 7,934,125,435.65 |
| Accountpayable | 7,338,677,032.64 | 6,132,020,588.41 |
| Accountsreceivedinadvance | 665,432.82 | 11,085.70 |
| Contractualliability | 375,324,818.58 | 609,737,871.24 |
| Sellingfinancialassetofrepurchase | ||
| Absorbingdepositandinterbankdeposit | ||
| Securitytradingofagency | ||
| Securitysalesofagency | ||
| Wagepayable | 342,796,057.07 | 389,952,777.46 |
| Taxespayable | 85,764,533.83 | 95,871,539.98 |
| Otheraccountpayable | 1,097,636,910.83 | 1,031,439,412.53 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Including:Interestpayable
| Including:Interestpayable | ||
| Dividendpayable | 7,492,505.08 | 6,005,989.72 |
| Commissionchargeandcommissionpayable | ||
| Reinsurancepayable | ||
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | 55,641,504.49 | 29,135,164.68 |
| Othercurrentliabilities | 10,975,143.87 | 23,824,389.50 |
| Totalcurrentliabilities | 20,709,514,543.36 | 17,169,225,232.08 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termloans | ||
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | 138,127,127.13 | 101,826,405.91 |
| Long-termaccountpayable | 284,000.40 | 455,409.20 |
| Long-termwagespayable | 9,397,626.43 | 10,195,289.45 |
| Accrualliability | 35,212,748.24 | 45,030,417.22 |
| Deferredincome | 113,860,607.33 | 125,435,177.90 |
| Deferredincometaxliabilities | 47,065,165.17 | 44,072,593.30 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 343,947,274.70 | 327,015,292.98 |
| Totalliabilities | 21,053,461,818.06 | 17,496,240,525.06 |
| Owner’sequity: | ||
| Sharecapital | 1,029,923,715.00 | 1,029,923,715.00 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Otherequityinstrument
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 2,750,470,215.39 | 2,750,470,215.39 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | -21,910,079.52 | -21,222,419.68 |
| Reasonablereserve | 32,081,084.56 | 20,968,173.59 |
| Surpluspublicreserve | 502,454,071.02 | 502,454,071.02 |
| Provisionofgeneralrisk | ||
| Retainedprofit | 1,880,519,704.39 | 1,803,207,185.06 |
| Totalowner’sequityattributabletoparentcompany | 6,173,538,710.84 | 6,085,800,940.38 |
| Minorityinterests | 399,235,389.45 | 390,562,431.04 |
| Totalowner’sequity | 6,572,774,100.29 | 6,476,363,371.42 |
| Totalliabilitiesandowner’sequity | 27,626,235,918.35 | 23,972,603,896.48 |
LegalRepresentative:WuDinggangPersoninchargeofaccountingworks:YangBingPersoninchargeofaccountinginstitute:HuXiangfei
2.BalanceSheetofParentCompany
InRMB
| Item | June30,2025 | January1,2025 |
| Currentassets: | ||
| Monetaryfunds | 3,254,462,734.62 | 3,939,389,057.28 |
| Tradingfinancialassets | 492,200,263.89 | |
| Derivativefinancialassets | 11,267,678.39 | 19,821,438.48 |
| Notereceivable | ||
| Accountreceivable | 2,049,122,151.03 | 833,235,885.99 |
| Receivablefinancing | 751,829,516.66 | 1,442,869,017.45 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Accountspaidinadvance
| Accountspaidinadvance | 52,082,856.91 | 48,554,780.33 |
| Otheraccountreceivable | 67,308,839.63 | 149,182,032.46 |
| Including:Interestreceivable | ||
| Dividendreceivable | 12,124,951.70 | |
| Inventories | 555,007,122.72 | 666,268,187.19 |
| Dataresources | ||
| Contractualassets | ||
| Assetsheldforsale | ||
| Non-currentassetsmaturingwithinoneyear | 215,284,277.78 | |
| Othercurrentassets | 319,148,746.95 | 291,466,689.98 |
| Totalcurrentassets | 7,767,714,188.58 | 7,390,787,089.16 |
| Non-currentassets: | ||
| Debtinvestment | 724,001,625.00 | 925,585,208.34 |
| Otherdebtinvestment | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 2,166,487,512.17 | 2,063,325,214.07 |
| Investmentinotherequityinstrument | ||
| Othernon-currentfinancialassets | 639,116,473.26 | 641,137,345.26 |
| Investmentrealestate | 3,021,753.51 | 3,126,179.84 |
| Fixedassets | 1,035,503,514.74 | 1,053,825,318.71 |
| Constructioninprogress | 111,151,501.57 | 59,788,586.47 |
| Productivebiologicalassets | ||
| Oilandnaturalgasassets | ||
| Right-of-useassets | 12,007,930.10 | 12,954,326.53 |
| Intangibleassets | 424,083,069.00 | 442,210,732.72 |
| Dataresources |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Researchanddevelopmentcosts
| Researchanddevelopmentcosts | 55,670,770.01 | 38,924,294.89 |
| Dataresources | ||
| Goodwill | ||
| Long-termdeferredexpenses | 10,883,455.52 | 17,709,281.58 |
| Deferredincometaxassets | 63,730,852.33 | 95,484,746.18 |
| Othernon-currentassets | 638,649.57 | 638,649.57 |
| Totalnon-currentassets | 5,246,297,106.78 | 5,354,709,884.16 |
| Totalassets | 13,014,011,295.36 | 12,745,496,973.32 |
| Currentliabilities: | ||
| Short-termborrowings | 1,251,414,538.68 | 746,224,022.12 |
| Tradingfinancialliability | ||
| Derivativefinancialliability | 21,174,358.12 | 35,876,471.02 |
| Notespayable | 2,907,532,648.73 | 2,977,167,497.82 |
| Accountpayable | 2,204,911,559.31 | 2,256,196,451.43 |
| Accountsreceivedinadvance | ||
| Contractualliability | 84,534,788.16 | 175,438,827.79 |
| Wagepayable | 79,831,984.61 | 107,686,556.89 |
| Taxespayable | 11,550,571.72 | 17,041,928.43 |
| Otheraccountspayable | 1,082,757,601.95 | 943,872,547.30 |
| Including:Interestpayable | ||
| Dividendpayable | 6,892,505.08 | 5,405,989.72 |
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | 5,860,850.42 | 2,368,977.68 |
| Othercurrentliabilities | 1,549,246.97 | 7,744,840.19 |
| Totalcurrentliabilities | 7,651,118,148.67 | 7,269,618,120.67 |
| Non-currentliabilities: |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Long-termloans
| Long-termloans | ||
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | 12,027,083.95 | 12,915,911.24 |
| Long-termaccountpayable | ||
| Longtermemployeecompensationpayable | 4,741,044.01 | 5,434,796.15 |
| Accruedliabilities | 8,108,377.98 | 12,165,219.71 |
| Deferredincome | 76,009,269.64 | 81,760,946.33 |
| Deferredincometaxliabilities | 14,795,491.83 | 15,926,816.74 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 115,681,267.41 | 128,203,690.17 |
| Totalliabilities | 7,766,799,416.08 | 7,397,821,810.84 |
| Owners’equity: | ||
| Sharecapital | 1,029,923,715.00 | 1,029,923,715.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 2,601,775,532.74 | 2,601,775,532.74 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | ||
| Specialreserve | 1,792,549.38 | |
| Surplusreserve | 502,235,905.34 | 502,235,905.34 |
| Retainedprofit | 1,111,484,176.82 | 1,213,740,009.40 |
| Totalowner’sequity | 5,247,211,879.28 | 5,347,675,162.48 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Totalliabilitiesandowner’sequity
| Totalliabilitiesandowner’sequity | 13,014,011,295.36 | 12,745,496,973.32 |
LegalRepresentative:WuDinggangPersoninchargeofaccountingworks:YangBingPersoninchargeofaccountinginstitute:HuXiangfei
3.ConsolidatedProfitStatement
InRMB
| Item | Semi-annualof2025 | Semi-annualof2024 |
| I.Totaloperatingincome | 18,071,515,842.15 | 14,959,351,023.54 |
| Including:Operatingincome | 18,071,515,842.15 | 14,959,351,023.54 |
| Interestincome | ||
| Insurancegained | ||
| Commissionchargeandcommissionincome | ||
| II.Totaloperatingcost | 17,588,399,482.97 | 14,503,339,525.46 |
| Including:Operatingcost | 16,184,229,553.79 | 13,341,412,638.44 |
| Interestexpense | ||
| Commissionchargeandcommissionexpense | ||
| Cashsurrendervalue | ||
| Netamountofexpenseofcompensation | ||
| Netamountofwithdrawalofinsurancecontractreserve | ||
| Bonusexpenseofguaranteeslip | ||
| Reinsuranceexpense | ||
| Taxandextras | 58,989,367.55 | 55,591,644.49 |
| Salesexpense | 834,522,622.88 | 757,588,062.94 |
| Administrativeexpense | 196,789,198.82 | 163,427,965.02 |
| R&Dexpense | 324,890,915.17 | 287,601,598.28 |
| Financialexpense | -11,022,175.24 | -102,282,383.71 |
| Including:Interestexpenses | 16,981,902.08 | 14,112,775.88 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Interestincome
| Interestincome | 71,912,776.32 | 98,862,200.53 |
| Add:Otherincome | 80,223,527.31 | 81,279,001.62 |
| Investmentincome(Lossislistedwith“-”) | -1,925,678.15 | 2,933,725.87 |
| Including:Investmentincomeonaffiliatedcompanyandjointventure | 3,878,898.03 | 7,391,368.30 |
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost | -18,998,835.41 | -24,604,289.53 |
| Exchangeincome(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Incomefromchangeoffairvalue(Lossislistedwith“-”) | 82,283,850.82 | -42,719,405.68 |
| Lossofcreditimpairment(Lossislistedwith“-”) | -68,032,093.37 | 11,712,225.75 |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | -65,475,481.29 | -29,258,587.16 |
| Incomefromassetsdisposal(Lossislistedwith“-”) | 108,659.65 | 36,334.95 |
| III.Operatingprofit(Lossislistedwith“-”) | 510,299,144.15 | 479,994,793.43 |
| Add:Non-operatingincome | 2,294,086.26 | 2,967,386.19 |
| Less:Non-operatingexpense | 2,468,650.99 | 4,861,760.61 |
| IV.Totalprofit(Lossislistedwith“-”) | 510,124,579.42 | 478,100,419.01 |
| Less:Incometaxexpense | 80,681,854.99 | 52,214,844.76 |
| V.Netprofit(Netlossislistedwith“-”) | 429,442,724.43 | 425,885,574.25 |
| (i)Classifybybusinesscontinuity | ||
| 1.continuousoperatingnetprofit(netlosslistedwith‘-”) | 429,442,724.43 | 425,885,574.25 |
| 2.terminationofnetprofit(netlosslistedwith‘-”) | ||
| (ii)Classifybyownership | ||
| 1.Netprofitattributabletoowner’sofparentcompany | 417,187,345.27 | 416,088,950.18 |
| 2.Minorityshareholders’gainsandlosses | 12,255,379.16 | 9,796,624.07 |
| VI.Netafter-taxofothercomprehensiveincome | -763,639.02 | -1,142,407.83 |
| Netafter-taxofothercomprehensiveincomeattributableto | -687,659.84 | -1,173,618.69 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
ownersofparentcompany
| ownersofparentcompany | ||
| (I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | -687,659.84 | -1,173,618.69 |
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | -687,659.84 | -1,173,618.69 |
| 7.Other | ||
| Netafter-taxofothercomprehensiveincomeattributabletominorityshareholders | -75,979.18 | 31,210.86 |
| VII.Totalcomprehensiveincome | 428,679,085.41 | 424,743,166.42 |
| TotalcomprehensiveincomeattributabletoownersofparentCompany | 416,499,685.43 | 414,915,331.49 |
| Totalcomprehensiveincomeattributabletominorityshareholders | 12,179,399.98 | 9,827,834.93 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
VIII.Earningspershare:
| VIII.Earningspershare: | ||
| (i)Basicearningspershare | 0.4051 | 0.404 |
| (ii)Dilutedearningspershare | 0.4051 | 0.404 |
Intheeventofabusinessmergerunderthesamecontrolinthecurrentperiod,thenetprofitrealizedbythemergedpartybeforethemergerwas0.00yuan,andthenetprofitrealizedbythemergedpartyinthepreviousperiodwas0.00yuan.LegalRepresentative:WuDinggangPersoninchargeofaccountingworks:YangBingPersoninchargeofaccountinginstitute:HuXiangfei
4.ProfitStatementofParentCompany
InRMB
| Item | Semi-annualof2025 | Semi-annualof2024 |
| I.Operatingincome | 4,939,655,534.15 | 4,969,902,647.32 |
| Less:Operatingcost | 4,348,705,689.54 | 4,532,916,186.15 |
| Taxesandsurcharge | 19,831,290.74 | 23,478,425.44 |
| Salesexpenses | 141,953,661.27 | 143,132,360.31 |
| Administrationexpenses | 52,820,846.20 | 50,816,647.13 |
| R&Dexpenses | 180,556,326.20 | 133,895,567.76 |
| Financialexpenses | -25,049,146.25 | -41,115,313.08 |
| Including:Interestexpenses | 8,557,134.21 | 9,500,234.85 |
| Interestincome | 24,157,132.82 | 50,681,932.56 |
| Add:Otherincome | 21,257,955.66 | 7,598,647.10 |
| Investmentincome(Lossislistedwith“-”) | 35,020,778.76 | 26,670,093.50 |
| Including:InvestmentincomeonaffiliatedCompanyandjointventure | 4,837,089.05 | 6,158,368.75 |
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”) | 556,040.92 | -2,635,478.39 |
| Netexposurehedgingincome(Lossislisted |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
with“-”)
| with“-”) | ||
| Changingincomeoffairvalue(Lossislistedwith“-”) | 8,348,616.70 | -21,247,008.05 |
| Lossofcreditimpairment(Lossislistedwith“-”) | -14,690,691.08 | -168,300.27 |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | -1,629,084.87 | -5,947,448.04 |
| Incomeondisposalofassets(Lossislistedwith“-”) | 3,044.16 | |
| II.Operatingprofit(Lossislistedwith“-”) | 269,144,441.62 | 133,687,802.01 |
| Add:Non-operatingincome | 681,872.78 | 165,605.98 |
| Less:Non-operatingexpense | 1,584,752.10 | 1,260,307.21 |
| III.TotalProfit(Lossislistedwith“-”) | 268,241,562.30 | 132,593,100.78 |
| Less:Incometax | 30,622,568.94 | 17,312,090.47 |
| IV.Netprofit(Netlossislistedwith“-”) | 237,618,993.36 | 115,281,010.31 |
| (i)continuousoperatingnetprofit(netlosslistedwith‘-”) | 237,618,993.36 | 115,281,010.31 |
| (ii)terminationofnetprofit(netlosslistedwith‘-”) | ||
| V.Netafter-taxofothercomprehensiveincome | ||
| (i)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
4.Fairvaluechangeofenterprise'screditrisk
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 7.Other | ||
| VI.Totalcomprehensiveincome | 237,618,993.36 | 115,281,010.31 |
| VII.Earningspershare: | ||
| (i)Basicearningspershare | 0.2307 | 0.1119 |
| (ii)Dilutedearningspershare | 0.2307 | 0.1119 |
LegalRepresentative:WuDinggangPersoninchargeofaccountingworks:YangBingPersoninchargeofaccountinginstitute:HuXiangfei
5.ConsolidatedCashFlowStatement
InRMB
| Item | Semi-annualof2025 | Semi-annualof2024 |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 18,024,966,579.93 | 15,348,070,718.35 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Netincreaseofcustomerdepositandinterbankdeposit
| Netincreaseofcustomerdepositandinterbankdeposit | ||
| Netincreaseofloanfromcentralbank | ||
| Netincreaseofcapitalborrowedfromotherfinancialinstitution | ||
| Cashreceivedfromoriginalinsurancecontractfee | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseofinsuredsavingsandinvestment | ||
| Cashreceivedfrominterest,commissionchargeandcommission | ||
| Netincreaseofcapitalborrowed | ||
| Netincreaseofreturnedbusinesscapital | ||
| Netcashreceivedbyagentsinsaleandpurchaseofsecurities | ||
| Write-backoftaxreceived | 859,882,005.15 | 563,109,006.37 |
| Othercashreceivedconcerningoperatingactivities | 64,855,328.53 | 40,441,550.63 |
| Subtotalofcashinflowarisingfromoperatingactivities | 18,949,703,913.61 | 15,951,621,275.35 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 15,531,280,024.53 | 11,553,383,554.37 |
| Netincreaseofcustomerloansandadvances | ||
| Netincreaseofdepositsincentralbankandinterbank | ||
| Cashpaidfororiginalinsurancecontractcompensation |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Netincreaseofcapitallent
| Netincreaseofcapitallent | ||
| Cashpaidforinterest,commissionchargeandcommission | ||
| Cashpaidforbonusofguaranteeslip | ||
| Cashpaidto/forstaffandworkers | 1,216,813,365.26 | 1,060,547,031.42 |
| Taxespaid | 257,324,900.15 | 204,715,594.76 |
| Othercashpaidconcerningoperatingactivities | 583,711,961.96 | 398,572,400.77 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 17,589,130,251.90 | 13,217,218,581.32 |
| Netcashflowsarisingfromoperatingactivities | 1,360,573,661.71 | 2,734,402,694.03 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 10,349,238,472.00 | 1,420,000,000.00 |
| Cashreceivedfrominvestmentincome | 44,863,355.09 | 28,412,801.63 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 842,094.55 | 200,791.00 |
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | 83,846,728.30 | 102,139,412.47 |
| Subtotalofcashinflowfrominvestingactivities | 10,478,790,649.94 | 1,550,753,005.10 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 236,621,756.72 | 149,362,697.07 |
| Cashpaidforinvestment | 13,145,000,000.00 | 3,580,000,000.00 |
| Netincreaseofmortgagedloans | ||
| Netcashreceivedfromsubsidiariesand |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
otherunitsobtained
| otherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | 103,409,698.19 | 16,523,261.95 |
| Subtotalofcashoutflowfrominvestingactivities | 13,485,031,454.91 | 3,745,885,959.02 |
| Netcashflowsarisingfrominvestingactivities | -3,006,240,804.97 | -2,195,132,953.92 |
| III.Cashflowsarisingfromfinancingactivities: | ||
| Cashreceivedfromabsorbinginvestment | ||
| Including:Cashreceivedfromabsorbingminorityshareholders’investmentbysubsidiaries | ||
| Cashreceivedfromloans | 2,031,143,747.01 | 1,127,882,556.92 |
| Othercashreceivedconcerningfinancingactivities | 538,295,512.53 | 74,184,955.05 |
| Subtotalofcashinflowfromfinancingactivities | 2,569,439,259.54 | 1,202,067,511.97 |
| Cashpaidforsettlingdebts | 1,536,858,532.12 | 1,131,967,080.14 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 356,474,745.48 | 325,527,935.72 |
| Including:Dividendandprofitofminorityshareholderpaidbysubsidiaries | 4,066,474.72 | 5,083,093.40 |
| Othercashpaidconcerningfinancingactivities | 262,259,380.19 | 79,329,165.34 |
| Subtotalofcashoutflowfromfinancingactivities | 2,155,592,657.79 | 1,536,824,181.20 |
| Netcashflowsarisingfromfinancingactivities | 413,846,601.75 | -334,756,669.23 |
| IV.Influenceoncashandcash | 6,322,906.16 | 17,439,311.30 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
equivalentsduetofluctuationinexchangerate
| equivalentsduetofluctuationinexchangerate | ||
| V.Netincreaseofcashandcashequivalents | -1,225,497,635.35 | 221,952,382.18 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 9,976,098,734.11 | 8,391,177,936.62 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 8,750,601,098.76 | 8,613,130,318.80 |
LegalRepresentative:WuDinggangPersoninchargeofaccountingworks:YangBingPersoninchargeofaccountinginstitute:HuXiangfei
6.CashFlowStatementofParentCompany
InRMB
| Item | Semi-annualof2025 | Semi-annualof2024 |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 4,282,390,841.11 | 5,280,211,025.34 |
| Write-backoftaxreceived | 313,278,239.40 | 293,706,672.31 |
| Othercashreceivedconcerningoperatingactivities | 20,710,675.41 | 14,519,557.10 |
| Subtotalofcashinflowarisingfromoperatingactivities | 4,616,379,755.92 | 5,588,437,254.75 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 4,464,130,616.45 | 4,180,482,491.50 |
| Cashpaidto/forstaffandworkers | 284,339,799.32 | 291,758,151.83 |
| Taxespaid | 32,644,734.65 | 43,581,975.81 |
| Othercashpaidconcerningoperatingactivities | 144,701,747.69 | 115,440,944.47 |
| Subtotalofcashoutflowarisingfrom | 4,925,816,898.11 | 4,631,263,563.61 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
operatingactivities
| operatingactivities | ||
| Netcashflowsarisingfromoperatingactivities | -309,437,142.19 | 957,173,691.14 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 5,804,238,472.00 | 620,000,000.00 |
| Cashreceivedfrominvestmentincome | 38,789,848.20 | 27,533,505.78 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 786,413.00 | 202,186.00 |
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | 36,637,150.50 | 53,882,098.29 |
| Subtotalofcashinflowfrominvestingactivities | 5,880,451,883.70 | 701,617,790.07 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 99,382,132.62 | 85,678,643.57 |
| Cashpaidforinvestment | 6,439,000,000.00 | 2,100,000,000.00 |
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | 21,079,682.40 | |
| Subtotalofcashoutflowfrominvestingactivities | 6,559,461,815.02 | 2,185,678,643.57 |
| Netcashflowsarisingfrominvestingactivities | -679,009,931.32 | -1,484,060,853.50 |
| III.Cashflowsarisingfromfinancingactivities: | ||
| Cashreceivedfromabsorbing |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
investment
| investment | ||
| Cashreceivedfromloans | 1,881,143,747.01 | 809,669,129.02 |
| Othercashreceivedconcerningfinancingactivities | 142,067,082.00 | 150,450,083.63 |
| Subtotalofcashinflowfromfinancingactivities | 2,023,210,829.01 | 960,119,212.65 |
| Cashpaidforsettlingdebts | 1,376,108,522.12 | 1,131,967,080.14 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 346,136,175.67 | 316,626,529.97 |
| Othercashpaidconcerningfinancingactivities | 56,284,214.73 | 7,491,686.80 |
| Subtotalofcashoutflowfromfinancingactivities | 1,778,528,912.52 | 1,456,085,296.91 |
| Netcashflowsarisingfromfinancingactivities | 244,681,916.49 | -495,966,084.26 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 4,835,720.68 | -1,950,942.84 |
| V.Netincreaseofcashandcashequivalents | -738,929,436.34 | -1,024,804,189.46 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 3,881,601,972.71 | 4,746,147,736.99 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 3,142,672,536.37 | 3,721,343,547.53 |
LegalRepresentative:WuDinggangPersoninchargeofaccountingworks:YangBingPersoninchargeofaccountinginstitute:HuXiangfei
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
7.StatementofChangesinOwners’Equity(Consolidated)
ThisPeriod
InRMB
Item
| Item | Semi-annualof2025 | ||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapitalsecurities | Other | |||||||||||||
| I.Theendingbalanceofthepreviousyear | 1,029,923,715.00 | 2,750,470,215.39 | -21,222,419.68 | 20,968,173.59 | 502,454,071.02 | 1,803,207,185.06 | 6,085,800,940.38 | 390,562,431.04 | 6,476,363,371.42 | ||||||
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Add:
Changesofaccountingpolicy
| Add:Changesofaccountingpolicy | |||||||||||||
| Errorcorrectionofthelastperiod | |||||||||||||
| Other | |||||||||||||
| II.Thebeginningbalanceofthecurrentyear | 1,029,923,715.00 | 2,750,470,215.39 | -21,222,419.68 | 20,968,173.59 | 502,454,071.02 | 1,803,207,185.06 | 6,085,800,940.38 | 390,562,431.04 | 6,476,363,371.42 | ||||
| III.Increase | -687,659.84 | 11,112,910.97 | 77,312,519.33 | 87,737,770.46 | 8,672,958.41 | 96,410,728.87 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
/Decreaseintheperiod(Decreaseislistedwith“-”)
| /Decreaseintheperiod(Decreaseislistedwith“-”) | ||||||||
| (i)Totalcomprehensiveincome | -687,659.84 | 417,187,345.27 | 416,499,685.43 | 12,179,399.98 | 428,679,085.41 | |||
| (ii)Owners’devotedanddecreasedcapital | ||||||||
| 1.Common |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
sharesinvestedbyshareholders
| sharesinvestedbyshareholders |
| 2.Capitalinvestedbyholdersofotherequityinstruments |
| 3.Amountreckonedintoownersequitywithshare-ba |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
sedpayment
| sedpayment | ||||||
| 4.Other | ||||||
| (iii)Profitdistribution | -339,874,825.94 | -339,874,825.94 | -4,066,474.72 | -343,941,300.66 | ||
| 1.Withdrawalofsurplusreserves | ||||||
| 2.Withdrawalofgeneralriskprovisions | ||||||
| 3. | -339,874,825.94 | -339,874,825.94 | -4,066,474.72 | -343,941,300.66 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Distributionforowners(orshareholders)
| Distributionforowners(orshareholders) |
| 4.Other |
| (iv)Carryingforwardinternalowners’equity |
| 1.Capitalreservesconversedtocapital(share |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
capital)
| capital) |
| 2.Surplusreservesconversedtocapital(sharecapital) |
| 3.Remedyinglosswithsurplusreserve |
| 4.Carry-overretainedearningsfromthe |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
definedbenefitplans
| definedbenefitplans | ||||||
| 5.Carry-overretainedearningsfromothercomprehensiveincome | ||||||
| 6.Other | ||||||
| (v)Reasonablereserve | 11,112,910.97 | 11,112,910.97 | 560,033.15 | 11,672,944.12 | ||
| 1.Withdrawalin | 21,140,216.03 | 21,140,216.03 | 991,714.29 | 22,131,930.32 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
thereportperiod
| thereportperiod | |||||||||||||
| 2.Usageinthereportperiod | 10,027,305.06 | 10,027,305.06 | 431,681.14 | 10,458,986.20 | |||||||||
| (vi)Others | |||||||||||||
| IV.Balanceattheendoftheperiod | 1,029,923,715.00 | 2,750,470,215.39 | -21,910,079.52 | 32,081,084.56 | 502,454,071.02 | 1,880,519,704.39 | 6,173,538,710.84 | 399,235,389.45 | 6,572,774,100.29 |
LastPeriod
InRMB
| Item | Semi-annualof2024 | ||||||||||||
| Owners’equityattributabletotheparentCompany | Minority | Totalowners’ | |||||||||||
| Share | Other | Capital | Less: | Other | Reasonable | Surplus | Provisio | Retainedprofit | Othe | Subtotal | |||
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
interests
| capital | equityinstrument | reserve | Inventoryshares | comprehensiveincome | reserve | reserve | nofgeneralrisk | r | interests | equity | |||||
| Preferredstock | Perpetualcapitalsecurities | Other | |||||||||||||
| I.Theendingbalanceofthepreviousyear | 1,029,923,715.00 | 2,805,503,457.77 | -20,704,362.05 | 11,246,811.91 | 477,053,194.82 | 1,521,759,836.64 | 5,824,782,654.09 | 369,252,132.37 | 6,194,034,786.46 | ||||||
| Add:Changesofaccountingpolicy | |||||||||||||||
| Errorcorrection | |||||||||||||||
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
ofthelastperiod
| ofthelastperiod | |||||||||||||
| Other | 320,000,000.00 | -83,444,712.70 | 236,555,287.30 | 236,555,287.30 | |||||||||
| II.Thebeginningbalanceofthecurrentyear | 1,029,923,715.00 | 3,125,503,457.77 | -20,704,362.05 | 11,246,811.91 | 477,053,194.82 | 1,438,315,123.94 | 6,061,337,941.39 | 369,252,132.37 | 6,430,590,073.76 | ||||
| III.Increase/Decreaseintheperiod(Decreaseislistedwith“-”) | -1,173,618.69 | 3,207,366.13 | 107,111,835.68 | 109,145,583.12 | 5,214,743.84 | 114,360,326.96 | |||||||
| (i)Totalcomprehensiveincome | -1,173,618.69 | 416,088,950.18 | 414,915,331.49 | 9,827,834.93 | 424,743,166.42 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
(ii)Owners’devotedanddecreasedcapital
| (ii)Owners’devotedanddecreasedcapital |
| 1.Commonsharesinvestedbyshareholders |
| 2.Capitalinvestedbyholdersofotherequityinstruments |
| 3.Amountreckoned |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
intoownersequitywithshare-basedpayment
| intoownersequitywithshare-basedpayment | ||||||
| 4.Other | ||||||
| (iii)Profitdistribution | -308,977,114.50 | -308,977,114.50 | -5,083,093.40 | -314,060,207.90 | ||
| 1.Withdrawalofsurplusreserves | ||||||
| 2.Withdrawalofgeneralrisk |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
provisions
| provisions | ||||||
| 3.Distributionforowners(orshareholders) | -308,977,114.50 | -308,977,114.50 | -5,083,093.40 | -314,060,207.90 | ||
| 4.Other | ||||||
| (iv)Carryingforwardinternalowners’equity | ||||||
| 1.Capitalreservesconversedtocapital(sharecapital) |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
2.Surplusreservesconversedtocapital(sharecapital)
| 2.Surplusreservesconversedtocapital(sharecapital) |
| 3.Remedyinglosswithsurplusreserve |
| 4.Carry-overretainedearningsfromthedefinedbenefitplans |
| 5. |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Carry-overretainedearningsfromothercomprehensiveincome
| Carry-overretainedearningsfromothercomprehensiveincome | ||||||
| 6.Other | ||||||
| (v)Reasonablereserve | 3,207,366.13 | 3,207,366.13 | 470,002.31 | 3,677,368.44 | ||
| 1.Withdrawalinthereportperiod | 17,312,570.32 | 17,312,570.32 | 878,578.37 | 18,191,148.69 | ||
| 2.Usageinthereportperiod | 14,105,204.19 | 14,105,204.19 | 408,576.06 | 14,513,780.25 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
(vi)Others
| (vi)Others | |||||||||||||
| IV.Balanceattheendoftheperiod | 1,029,923,715.00 | 3,125,503,457.77 | -21,877,980.74 | 14,454,178.04 | 477,053,194.82 | 1,545,426,959.62 | 6,170,483,524.51 | 374,466,876.21 | 6,544,950,400.72 |
LegalRepresentative:WuDinggangPersoninchargeofaccountingworks:YangBingPersoninchargeofaccountinginstitute:HuXiangfei
8.StatementofChangesinOwners’Equity(ParentCompany)
ThisPeriod
InRMB
| Item | Semi-annualof2025 | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Retainedprofit | Other | Totalowners’equity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | ||||||||||
| I.Theendingbalanceofthepreviousyear | 1,029,923,715.00 | 2,601,775,532.74 | 502,235,905.34 | 1,213,740,009.40 | 5,347,675,162.48 | |||||||
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
Add:Changesofaccountingpolicy
| Add:Changesofaccountingpolicy | |||||||||
| Errorcorrectionofthelastperiod | |||||||||
| Other | |||||||||
| II.Thebeginningbalanceofthecurrentyear | 1,029,923,715.00 | 2,601,775,532.74 | 502,235,905.34 | 1,213,740,009.40 | 5,347,675,162.48 | ||||
| III.Increase/Decreaseintheperiod(Decreaseislistedwith“-”) | 1,792,549.38 | -102,255,832.58 | -100,463,283.20 | ||||||
| (i)Totalcomprehensiveincome | 237,618,993.36 | 237,618,993.36 | |||||||
| (ii)Owners’devotedanddecreasedcapital | |||||||||
| 1.Commonsharesinvestedbyshareholders | |||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | |||||||||
| 3.Amountreckonedinto |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
ownersequitywithshare-basedpayment
| ownersequitywithshare-basedpayment | ||||
| 4.Other | ||||
| (iii)Profitdistribution | -339,874,825.94 | -339,874,825.94 | ||
| 1.Withdrawalofsurplusreserves | ||||
| 2.Distributionforowners(orshareholders) | -339,874,825.94 | -339,874,825.94 | ||
| 3.Other | ||||
| (iv)Carryingforwardinternalowners’equity | ||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||
| 2.Surplusreservesconversedtocapital(sharecapital) | ||||
| 3.Remedyinglosswithsurplusreserve | ||||
| 4.Carry-overretainedearnings |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
fromthedefinedbenefitplans
| fromthedefinedbenefitplans | |||||||||
| 5.Carry-overretainedearningsfromothercomprehensiveincome | |||||||||
| 6.Other | |||||||||
| (v)Reasonablereserve | 1,792,549.38 | 1,792,549.38 | |||||||
| 1.Withdrawalinthereportperiod | 4,990,854.12 | 4,990,854.12 | |||||||
| 2.Usageinthereportperiod | 3,198,304.74 | 3,198,304.74 | |||||||
| (vi)Others | |||||||||
| IV.Balanceattheendoftheperiod | 1,029,923,715.00 | 2,601,775,532.74 | 1,792,549.38 | 502,235,905.34 | 1,111,484,176.82 | 5,247,211,879.28 |
Lastperiod
InRMB
| Item | Semi-annualof2024 | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Retainedprofit | Other | Totalowners’equity | |||
| Preferredstock | Perpetualcapital | Other | ||||||||||
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
securities
| securities | |||||||||||
| I.Theendingbalanceofthepreviousyear | 1,029,923,715.00 | 2,740,508,510.57 | 505,111.75 | 476,835,029.14 | 1,294,109,238.10 | 5,541,881,604.56 | |||||
| Add:Changesofaccountingpolicy | |||||||||||
| Errorcorrectionofthelastperiod | |||||||||||
| Other | |||||||||||
| II.Thebeginningbalanceofthecurrentyear | 1,029,923,715.00 | 2,740,508,510.57 | 505,111.75 | 476,835,029.14 | 1,294,109,238.10 | 5,541,881,604.56 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
III.Increase/Decreaseintheperiod(Decreaseislistedwith“-”)
| III.Increase/Decreaseintheperiod(Decreaseislistedwith“-”) | 825,666.62 | -193,696,104.19 | -192,870,437.57 | |||
| (i)Totalcomprehensiveincome | 115,281,010.31 | 115,281,010.31 | ||||
| (ii)Owners’devotedanddecreasedcapital | ||||||
| 1.Commonsharesinvestedbyshareholders | ||||||
| 2.Capitalinvestedbyholdersofotherequity |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
instruments
| instruments | ||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||
| 4.Other | ||||
| (iii)Profitdistribution | -308,977,114.50 | -308,977,114.50 | ||
| 1.Withdrawalofsurplusreserves | ||||
| 2.Distributionforowners(orshareholders) | -308,977,114.50 | -308,977,114.50 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
3.Other
| 3.Other |
| (iv)Carryingforwardinternalowners’equity |
| 1.Capitalreservesconversedtocapital(sharecapital) |
| 2.Surplusreservesconversedtocapital(sharecapital) |
| 3.Remedyinglosswith |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
surplusreserve
| surplusreserve | ||||
| 4.Carry-overretainedearningsfromthedefinedbenefitplans | ||||
| 5.Carry-overretainedearningsfromothercomprehensiveincome | ||||
| 6.Other | ||||
| (v)Reasonablereserve | 825,666.62 | 825,666.62 |
ChanghongMeilingCo.,Ltd.Semi-AnnualReport2025
1.Withdrawalinthereportperiod
| 1.Withdrawalinthereportperiod | 4,842,286.80 | 4,842,286.80 | |||||||
| 2.Usageinthereportperiod | 4,016,620.18 | 4,016,620.18 | |||||||
| (vi)Others | |||||||||
| IV.Balanceattheendoftheperiod | 1,029,923,715.00 | 2,740,508,510.57 | 1,330,778.37 | 476,835,029.14 | 1,100,413,133.91 | 5,349,011,166.99 |
LegalRepresentative:WuDinggangPersoninchargeofaccountingworks:YangBingPersoninchargeofaccountinginstitute:HuXiangfei
I.CompanyprofileChanghongMeilingCo.,Ltd(hereinafterreferredtoas“theCompany”)，originallynamedasHefeiMeilingCo.,Ltd.isanincorporatedCompanyestablishedandreorganizedbyHefeiMeilingRefrigeratorGeneralFactoryandapprovedonJune12
th
1992through[WanTiGaiHanZi(1992)No.039]issuedbyoriginalMechanismReformCommitteeofAnhuiProvince.OnAugust30
th
1993,throughAnhuiProvincialGovernment[Wanzhenmi(1993)No.166]andre-examinationofChinaSecuritiesRegulatoryCommission,theCompanymadefirstpublicissuefor30millionAsharesandtheCompanywaslistedonOct.18
th
,1993inShenzhenStockExchange.OnAugust
th
,1996,theCompanywasapprovedtoissue100millionBsharestoinvestorsabroadthrough[ZhengWeiFa(1996)No.26]issuedbyChinaSecuritiesRegulatoryCommission.TheCompanywentpublicinShenzhenStockExchangeonAugust28
th
,1996.State-ownedAssetsSupervision&AdministrationCommissionoftheStateCouncilapprovedsuchtransferswithDocumentGuoziChanquan(2007)No.253ReplyonMattersofHefeiMeilingGroupHoldingsLimitedTransferringPartialState-ownedOwnership,HefeiMeilingGroupHoldingsLimited(hereinafterreferredtoasMeilingGroup)transferreditsholding37,852,683sharesin82,852,683state-ownedsharesoftheCompanytoSichuanChanghongElectronicGroupCo.,Ltd(hereinafterreferredtoasChanghongGroup),other45,000,000sharestoSichuanChanghongElectricCo.Ltd(hereinafterreferredtoasSichuanChanghong).OnAug15,2007,theaboveownershipwastransferredandCleaningCorporationLimited.On27August2007,State-ownedAssetsSupervision&AdministrationCommissionofAnhuiProvincialGovernmentrepliedwithDocument[WGZCQH(2007)No.309]Replyon“RelatedMattersofShareMergerReformofHefeiMeilingCo.,Ltd.”,agreedtheCompany’sownershipsplitreformplan.TheCompanymadeconsiderationthatnon-tradableshareholdersdeliver1.5sharestoAshareholdersper10shares,andoriginalMeilingGroupmadeprepayment3,360,329sharesforsomenon-tradableshareholdersasconsiderationforsplitreformplan.On29May2008,concerning34,359,384state-ownedshares(including3,360,329sharespaidforothernon-tradableshareholdersbyoriginalMeilingGroupinsharereform)heldbyoriginalMeilingGroup,the“NoticeofFreelyTransferofMeilingElectricsEquityheldbyMeilingGroup”[HGZCQ(2008)No.59]issuedfromState-ownedAssetsSupervision&AdministrationCommissionofHefeiMunicipal,agreestotransfertheabovesaidsharestoHefeiXingtaiHoldingGroupCo.,Ltd.(“XingtaiHoldingCo.,”)forfree.On7August2008,the“ReplyofTransferFreelyofPartoftheSharesofHefeiMeilingCo.,Ltd.heldbyState-ownedshareholders”[GZCQ(2007)No.752]issuedbySASAC,agreestheabovesaidtransferring.OnOctober29,2008,ChanghongGroupsignedAgreementonEquityTransferofHefeiMeiling
Co.,LtdwithSichuanChanghong,inwhich32,078,846tradableA-shareswithconditionalsubscriptionoftheCompany(accountingfor7.76%intotalshares)heldbyChanghongGroup.On23December2008,“ReplyofTransferFreelyofPartoftheSharesofHefeiMeilingCo.,Ltd.heldbyState-ownedshareholders”[GZCQ(2008)No.1413]issuedbySASACagreestheabovesaidsharetransferring.On24December2010,beingdeliberatedandapprovedin32
nd
Sessionof6
thBODand2
ndExtraordinaryShareholders’GeneralMeetingof2010aswellasapprovalofdocument[ZJXK(2010)No.1715]fromCSRC,totally116,731,500RMBordinaryshares(Astock)wereofferingprivatelytotargetinvestorswithissuepriceofRMB10.28/share.CapitalcollectingamountingtoRMB1,199,999,820afterissuingexpensesRMB22,045,500deducted,netcapitalcollectedamountingtoRMB1,177,954,320,andpaid-incapital(sharecapital)increasedRMB116,731,500withcapitalreserve(sharepremium)RMB1,061,106,088.5increased.TheincreasingcapitalhasbeenverifiedbyCapitalVerificationReportNo.:［XYZH2010CDA6021］issuedfromShinWingCPACo.,Ltd.On20June2011,thegeneralmeetingoftheCompanyconsideredandapprovedthe2010profitdistributionplan,namelytodistributecashdividendsofRMB0.5(taxincluded)plustwosharesforeverytensharesheldbyshareholderstoallshareholders,basedonthetotalsharecapitalof530,374,449sharesasof31December2010.ThetotalsharecapitaloftheCompanyuponprofitdistributionincreasedto636,449,338shares.ThecapitalincreasewasverifiedbyAnhuiHuashenZhengdaAccountingFirmwiththeverificationreportWHSZDKYZ(2011)No.141.On26June2012,thegeneralmeetingoftheCompanyconsideredandapprovedthe2011profitdistributionandcapitalizationofcapitalreserveplan,namelytodistributecashdividendsofRMB0.5(taxincluded)plustwosharesforeverytensharestoallshareholderscapitalizedfromcapitalreserve,basedonthetotalsharecapitalof636,449,338sharesasof31December2011.ThetotalsharecapitaloftheCompanyuponimplementationofcapitalizationofcapitalreserveincreasedto763,739,205sharesfrom636,449,338shares,andwasverifiedbyAnhuiAnlianXindaAccountingFirmwiththeverificationreportWALXDYZ(2012)No.093.OnNovember18,2015,consideredandapprovedbythe12
thSessionofthe8
th
BODofthecompanyandthefirstextraordinarygeneralmeetingin2016,andapprovedbythedocumentofChinaSecuritiesRegulatoryCommission[CSRCLicenseNo.(2016)1396]“Replytotheapprovalofnon-publicofferingofsharesofHefeiMeilingCo.,Ltd.”,thecompanyhasactuallyraisedfundsof1,569,999,998.84yuanbynon-publicofferingofnomorethan334,042,553newsharesatfacevalueof1yuanpershareandwithissuepricenolessthan4.70yuanpershare,afterdeductingtheissuecostsof29,267,276.08yuan,thenetamountofraisedfundsis
1,540,732,722.76yuan,theincreasedpaid-incapital(sharecapital)of280,858,676.00yuan,increasedcapitalreserve(sharepremium)of1,259,874,046.76yuan.ThiscapitalincreasehasbeenverifiedbyNo.［XYZH2016CDA40272］capitalverificationreportofShineWingCertifiedPublicAccountants(LLP).SincethefirstrepurchaseofsharesonNovember4,2020,thecompanyhadcumulativelyrepurchased14,674,166sharesofthecompany(Bshares)incentralizedbiddingtransactionsthroughthespecialsecuritiesaccountforrepurchaseuntilFebruary18,2022,andcompletedthecancellationproceduresoftherepurchasedsharesattheShenzhenBranchofChinaSecuritiesDepositoryandClearingCo.,Ltd.onMarch2,2022,atotalof14,674,166sharesofthecompany(Bshares)werecancelled,accountingfor1.4048%ofthecompany'stotalsharecapitalbeforecancellation.Afterthecancellation,thetotalsharecapitalofthecompanywasreducedfrom1,044,597,881sharesto1,029,923,715shares.EndedasJune30,2025,totalsharecapitaloftheCompanyamountingto1,029,923,715shareswithordinarysharesinfull.Amongwhich,881,733,881sharesofA-shareaccounting85.61%intotalshareswhileB-sharewith148,189,834sharesaccounting14.39%intotalshares.Specificcapitalstructureisasfollows:
| Typeofstock | Quantity | Proportion |
| (I)Restrictedshares | 6,154,193 | 0.60% |
| 1.State-ownedshares | ||
| 2.State-ownedlegalperson’sshares | 1,141,053 | 0.11% |
| 3.Otherdomesticshares | 5,013,140 | 0.49% |
| Including:Domesticlegalperson’sshares | 3,363,539 | 0.33% |
| Domesticnaturalperson’sshares | 1,649,601 | 0.16% |
| 4.Foreignshares | ||
| (II)Unrestrictedshares | 1,023,769,522 | 99.40% |
| 1.RMBOrdinaryshares | 875,579,688 | 85.01% |
| 2.Domesticallylistedforeignshares | 148,189,834 | 14.39% |
| 3.Overseaslistedforeignshares | ||
| 4.Others |
| Typeofstock | Quantity | Proportion |
| Totalshares | 1,029,923,715 | 100.00% |
TheCompanybelongstothemanufactureoflightindustry,andengagedintheproductionandsaleofrefrigerator,freezerandair-conditioner.UnifiedsocialcreditcodeoftheCompany:
9134000014918555XK;Address:No.2163,LianhuaRoad,EconomyandTechnologyDevelopmentZone,HefeiCity;LegalRepresentative:WuDinggang;registercapital(paid-incapital):1,029,923,715yuan;typeofcompany:limitedliabilitycompany(jointventureandlistedofTaiwan,HongKongandMacao).
ThisfinancialstatementwasapprovedbytheBoardofDirectorsoftheCompanyonAugust19,2025.AccordingtotheArticlesofAssociationoftheCompany,thefinancialstatementwillbesubmittedtotheGeneralMeetingofShareholdersforreview.II.Basisforpreparationoffinancialstatement
1.BasisforpreparationAccordingtotheactualtransactionsandmatters,theCompany'sfinancialstatementsarepreparedinaccordancewiththeAccountingStandardsforBusinessEnterprisesanditsapplicationguidelines,explanationsandotherrelevantprovisions(hereinafterreferredtoas"AccountingStandardsforBusinessEnterprises")promulgatedbytheMinistryofFinance,aswellasthedisclosure-relatedprovisionsofNo.15RulesonInformationDisclosureandCompilationofCompaniesOfferingSecuritiestothePublic-GeneralProvisionsonFinancialReports(revisedin2023)issuedbyChinaSecuritiesRegulatoryCommission(hereinafterreferredtoas"CSRC").
2.ContinuousoperationTheCompanyrecentlyhasahistoryofprofitabilityoperationandhasfinancialresourcessupporting,andpreparedthefinancialstatementonbasisofgoingconcernisreasonable.III.SignificantAccountingPolicyandaccountingEstimationSpecificaccountingpoliciesandaccountingestimatestips:Thespecificaccountingpoliciesandaccountingestimatesformulatedbythecompanyaccordingtotheactualproductionandoperationcharacteristicsincludereceivablesprovisionsforbaddebts,inventorydepreciationprovisions,capitalizationconditionsofR&Dexpenses,revenuerecognitionandmeasurement,etc.
1.Statementonobservationofaccountingstandardsforenterprise
ThefinancialstatementspreparedbytheCompanymeettherequirementsoftheAccountingStandardsforBusinessEnterprises,andtruly,accuratelyandcompletelyreflectthefinancialstatusoftheCompanyonJune30,2025,aswellastheoperatingresultsandcashflowfirsthalf-yearof2025.
2.AccountingperiodTheaccountingperiodoftheCompanyisthecalendardatefrom1Januaryto31December.
3.OperationcycleOperationcycleoftheCompanywas12months,anditisthestandardofflowclassificationforassetsandliabilities.
4.StandardcurrencyforaccountingTheCompanytakesRMBasthestandardcurrencyforaccounting.
5.DeterminationmethodandselectionbasisofimportancestandardTheCompanyfollowstheprincipleofmaterialityinpreparinganddisclosingfinancialstatements.Themattersdisclosedinthenotestothefinancialstatementsinvolvingjudgementbymaterialitystandard,andthedeterminationmethodandselectionbasisofmaterialitystandardareasfollows:
| Mattersdisclosedinvolvingthejudgmentbymaterialitystandards | Determinationmethodandselectionbasisofimportancestandard |
| Recoveryorreversalofimportantaccountsreceivablebaddebtreserves | Theindividualrecoveryorreversalamountaccountsformorethan10%ofthetotalrecoveryorreversalamountofaccountsreceivable,andtheamountisgreaterthanRMB10million |
| Actualwriteoffofimportantaccountsreceivable | Thesingleitemwriteoffamountaccountsformorethan10%ofthetotalbaddebtwriteoffamountofvariousreceivables,andtheamountisgreaterthan5millionyuan |
| Importantaccountsreceivablewithsingleprovisionforbaddebtreserves | Thesingleprovisionamountaccountsfor10%ofthetotalbaddebtprovisionforvariousaccountsreceivableandisgreaterthanRMB50million |
| Importantdebtinvestment | Singledebtinvestmentaccountsfor5%ofthetotaldebt |
| Mattersdisclosedinvolvingthejudgmentbymaterialitystandards | Determinationmethodandselectionbasisofimportancestandard |
| investmentandtheamountisgreaterthanRMB20million | |
| Importanttoothernon-currentassets | Singlenon-currentassetsaccountsfor10%ofthetotalnon-currentassetsandtheamountisgreaterthanRMB10million |
| Significantchangesinthebookvalueofcontractassets | Thechangeinthebookvalueofcontractassetsaccountsformorethan30%oftheinitialbalanceofcontractassets |
| Materialconstructioninprogress | ThebudgetofasingleprojectismorethanRMB50million |
| MaterialcapitalizedR&Dprojects | ThebudgetofasingleprojectismorethanRMB20million |
| Materialcontractualliabilitieswithanageofmorethanoneyear | Contractualliabilitieswithasingleagingofmorethanoneyearaccountformorethan10%ofthetotalcontractualliabilitiesandaremorethanRMB50million |
| Significantchangesinthebookvalueofcontractualliabilities | Thechangeinthebookvalueofcontractualliabilitiesaccountsformorethan30%oftheinitialbalanceofcontractualliabilities |
| Importantaccountspayable | Accountspayablewithasingleaccountageexceeding1yearaccountformorethan5%ofthetotalaccountspayableandwithanamountgreaterthanRMB100million |
| Importantotherpayables | Otherpayableswithasingleaccountageexceeding1yearaccountformorethan5%ofthetotalotherpayablesandanamountgreaterthanRMB50million |
| Importantnonwholly-ownedsubsidiaries | Subsidiarynetassetsaccountforover1%ofthecompany'snetassets |
| Importantjointventuresorassociates | Thebookvalueoflong-termequityinvestmentsinasingleinvestedentityaccountsformorethan1%ofthecompany'snetassetsandtheamountisgreaterthanRMB50million,ortheinvestmentgainsandlossesundertheequitymethodaccountformorethan1%ofthecompany'sconsolidatednetprofit |
| Mattersdisclosedinvolvingthejudgmentbymaterialitystandards | Determinationmethodandselectionbasisofimportancestandard |
| Importantinvestmentactivities | Individualinvestmentactivitiesaccountformorethan10%ofthetotalcashinflowsoroutflowsrelatedtoreceivedorpaidinvestmentactivities,andtheamountisgreaterthanRMB100million |
| Significantactivitiesthatdonotinvolvecurrentcashinflowsandoutflows | Notinvolvingcurrentcashinflowsandoutflows,withanimpactonthecurrentfinancialstatementsgreaterthan10%ofnetassets |
6.AccountantarrangementmethodofbusinesscombinationundercommoncontrolandnotundercommoncontrolAsacquirer,theCompanymeasurestheassetsandliabilitiesacquiredthroughbusinesscombinationundercommoncontrolattheircarryingvaluesasreflectedintheconsolidatedfinancialstatementoftheultimatecontrollerasofthecombinationdate.Capitalreserveshallbeadjustedinrespectofanydifferencebetweencarryingvalueofthenetassetsacquiredandcarryingvalueofthecombinationconsiderationpaid.Incasethatcapitalreserveisinsufficienttooffset,theCompanywouldadjustretainedearnings.Theacquiree’snetidentifiableassets,liabilitiesorcontingentliabilitiesacquiredthroughbusinesscombinationnotundercommoncontrolshallbemeasuredatfairvalueasoftheacquisitiondate.Thecostofcombinationrepresentsthefairvalueofthecashornon-cashassetspaid,liabilitiesissuedorcommittedandequitysecuritiesissuedbytheCompanyasatthedateofcombinationinconsiderationforacquiringthecontrollingpowerintheacquiree,togetherwiththesumofanydirectlyrelatedexpensesoccurredduringbusinesscombination(incaseofsuchbusinesscombinationasgraduallyrealizedthroughvarioustransactions,thecombinationcostreferstothesumofeachcostofrespectiveseparatetransaction).Wherethecostofthecombinationexceedstheacquirer’sinterestinthefairvalueoftheacquirer’sidentifiablenetassetsacquired,thedifferenceisrecognizedasgoodwill;wherethecostofcombinationislowerthantheacquirer’sinterestinthefairvalueoftheacquiree’sidentifiablenetassets,theCompanyshallfirstlymakefurtherreviewonthefairvaluesofthenetidentifiableassets,liabilitiesorcontingentliabilitiesacquiredaswellasthefairvalueofthenon-cashassetsportionofcombinationconsiderationortheequitysecuritiesissuedbytheCompany.IncasethattheCompanyfindsthecostof
combinationisstilllowerthantheacquirer’sinterestinthefairvalueoftheacquiree’sidentifiablenetassetsaftersuchfurtherreview,thedifferenceisrecognizedinnon-operatingincomeforthecurrentperiodwhencombinationoccurs.
7.CriteriaforControlandPreparationMethodofConsolidatedFinancialStatementsControlmeansthattheCompanyhasthepowerovertheinvestee,enjoysvariablereturnsbyparticipatingintherelatedactivitiesoftheinvestee,andhastheabilitytoinfluencetheamountofreturnsbyusingthepowerovertheinvestee.TheCompanyshallputallthesubsidiariescontrolledandmainbodystructuredintoconsolidatedfinancialstatements.AnydifferencearisingfromtheinconformityofaccountingyearoraccountingpoliciesbetweenthesubsidiariesandtheCompanyshallbeadjustedintheconsolidatedfinancialstatements.Allthematerialinter-companytransactions,non-extraordinaryitemsandunrealizedprofitwithinthecombinationscopearewritten-offwhenpreparingconsolidatedfinancialstatement.Owners’equityofsubsidiarynotattributabletoparentcompanyandcurrentnetgainsandlosses,othercomprehensiveincomeandtotalcomprehensiveincomeattributabletominorityshareholdersarerecognizedasnon-controllinginterests,minorityinterests,othercomprehensiveincomeattributabletominorityshareholdersandtotalcomprehensiveincomeattributabletominorityshareholdersinconsolidatedfinancialstatementrespectively.Asforsubsidiaryacquiredthroughbusinesscombinationundercommoncontrol,itsoperatingresultsandcashflowwillbeincludedinconsolidatedfinancialstatementsincethebeginningoftheperiodwhencombinationoccurs.Whenpreparingcomparativeconsolidatedfinancialstatement,therelevantitemsinpreviousyearsfinancialstatementshallbeadjustedasifthereportingentityformeduponcombinationhasbeenexistingsincetheultimatecontrollercommencedrelevantcontrol.Asforequityinterestsoftheinvesteeundercommoncontrolacquiredthroughvarioustransactionswhicheventuallyformedbusinesscombination,theCompanyshallsupplementdisclosureoftheaccountingtreatmentinconsolidatedfinancialstatementinthereportingperiodwhencontrollingpowerisobtained.Forexample,asforequityinterestsoftheinvesteeundercommoncontrolacquiredthroughvarioustransactionswhicheventuallyformedbusinesscombination,adjustmentsshallbemadeasifthecurrentstatushadbeenexistingwhenthe
ultimatecontrollercommencedcontrolinconnectionofpreparingconsolidatedfinancialstatement;inconnectionwithpreparingcomparativestatement,theCompanyshallconsolidatetherelevantassetsandliabilitiesoftheacquireeintotheCompany’scomparativeconsolidatedfinancialstatementtotheextentnotearlierthanthetimingwhentheCompanyandtheacquireeareallundercontroloftheultimatecontroller,andthenetassetsincreasedduetocombinationshallbeusedtoadjustrelevantitemsunderowners’equityincomparativestatement.Inordertopreventdoublecomputationofthevalueoftheacquiree’snetassets,therelevantprofitsandlosses,othercomprehensiveincomeandchangeofothernetassetsrecognizedduringtheperiodfromthedatewhentheCompanyacquiresoriginalequityinterestsandthedatewhentheCompanyandtheacquireeareallunderultimatecontrolofthesameparty(whicheverislater)tothedateofcombinationinrespectofthelong-termequityinvestmentheldbytheCompanybeforesatisfactionofcombinationshallbeutilizedtooffsetthebeginningretainedearningsandcurrentgainsandlossesintheperiodasthecomparativefinancialstatementinvolves,respectively.Asforsubsidiaryacquiredthroughbusinesscombinationnotundercommoncontrol,itsoperatingresultsandcashflowwillbeincludedinconsolidatedfinancialstatementsincetheCompanyobtainscontrollingpower.Whenpreparingconsolidatedfinancialstatement,theCompanyshalladjustthesubsidiary’sfinancialstatementbasedonthefairvalueofthevariousidentifiableassets,liabilitiesorcontingentliabilitiesrecognizedasoftheacquisitiondate.Asforequityinterestsoftheinvesteenotundercommoncontrolacquiredthroughvarioustransactionswhicheventuallyformedbusinesscombination,theCompanyshallsupplementdisclosureoftheaccountingtreatmentinconsolidatedfinancialstatementinthereportingperiodwhencontrollingpowerisobtained.Forexample,asforequityinterestsoftheinvesteenotundercommoncontrolacquiredthroughvarioustransactionswhicheventuallyformedbusinesscombination,whenpreparingconsolidatedfinancialstatement,theCompanywouldre-measuretheequityinterestsheldintheacquireebeforeacquisitiondateattheirfairvalueasoftheacquisitiondate,andanydifferencebetweenthefairvalueandcarryingvalueisincludedincurrentinvestmentincome.incasethattheequityinterestsinacquireeheldbytheCompanybeforetherelevantacquisitiondateinvolvesothercomprehensiveincomeatequitymethodandchangeofotherowners’equity(otherthannetgainsandlosses,othercomprehensiveincomeandprofitdistribution),thentheequityinterestswouldtransfertoinvestmentgainsandlossesfortheperiodwhichtheacquisitiondatefallsupon.Theothercomprehensiveincomearisingfromchangeofthenetliabilitiesornetassetsunderestablishedbenefitschemeasacquiree’sre-measuredsuchschemeisexcluded.
Thetransactionwithnon-controllinginteresttodisposelong-termequityinvestmentinasubsidiarywithoutlosingcontrolrightsoverthesubsidiary,thedifferencebetweentheproceedsfromdisposalofinterestsandthedecreaseofthesharednetassetsofthesubsidiaryisadjustedtocapitalpremium(sharepremium).Incasecapitalreserveisnotsufficienttooffsetthedifference,retainedearningswillbeadjusted.Asfordisposalofpartequityinvestmentwhichleadstolosingcontrolovertheinvestee,theCompanywouldre-measuretheremainingequityinterestsattheirfairvalueasofthedatewhentheCompanylosescontrolovertheinvesteewhenpreparingconsolidatedfinancialstatement.Thesumofconsiderationreceivedfromdisposalofequityinterestandfairvalueoftheremainingequityinterest,lessthenetassetsoftheoriginalsubsidiaryattributabletotheCompanycalculatedbasedontheoriginalshareholdingproportionsincetheacquisitiondateorthedatethenconsolidationcommences,isincludedininvestmentgainsandlossesfortheperiodwhencontrolislost,meanwhiletooffsetgoodwill.Othercomprehensiveincomerelatedtoequityinterestinvestmentinoriginalsubsidiariesistransferredintocurrentinvestmentgainsandlossesuponlostofcontrol.Ifthedisposaloftheequityinvestmentofsubsidiaryisrealizedthroughmultipletransectionsunlitlossofcontrolandisapackagedeal.theaccountingtreatmentofthesternasectionsshouldbedealtwithasonetransactionofdisposalofthesubsidiaryuntillossofcontrol.However,beforetheCompanylosestotalcontrolofthesubsidiary,thedifferencesbetweentheactualdisposalpriceandtheshareofthenetassetsofthesubsidiarydisposedofineverytransactionshouldberecognizedasothercomprehensiveincomeintheconsolidatedfinancialstatements,andtransferredtoprofitorlosswhenlosingcontrol.
8.AccountingtreatmentforjointventurearrangementandjointcontrolledentityThejointventurearrangementoftheCompanyconsistsofjointcontrolledentityandjointventure.Asforjointlycontrolledentity,theCompanydeterminestheassetsheldandliabilitiesassumedseparatelyasapartytothejointlycontrolledentity,recognizessuchassetsandliabilitiesaccordingtoitsproportion,andrecognizesrelevantincomeandexpenseseparatelyunderrelevantagreementoraccordingtoitsproportion.Asforassettransactionrelatingtopurchaseandsaleswiththejointlycontrolledentitywhichdoesnotconstitutebusinessactivity,partofthegainsandlossesarisingfromsuchtransactionattributabletootherparticipatorsofthejointlycontrolledentityisonlyrecognized.
9.Cashandcashequivalents
CashinthecashflowstatementcomprisestheGroup’scashonhandanddepositsthatcanbereadilywithdrawnondemand.Cashequivalentsareshort-term,highlyliquidinvestmentsheldbytheGroup,thatarereadilyconvertibletoknownamountsofcashandwhicharesubjecttoaninsignificantriskofchangesinvalue.
10.Foreigncurrencybusinessandforeigncurrencyfinancialstatementconversion
(1)ForeigncurrencybusinessAsfortheforeigncurrencybusiness,theCompanyconvertstheforeigncurrencyamountintoRMBamountpursuanttothespotexchangerateasofthebusinessday.Asatthebalancesheetdate,monetaryitemsexpressedbyforeigncurrencyareconvertedintoRMBpursuanttothespotexchangerateasofthebalancesheetdate.Theconversiondifferenceoccurredisrecordedintoprevailinggainsandlosses,otherthanthedisclosurewhichismadeaccordingtocapitalizationrulesfortheexchangedifferenceoccurredfromthespecialforeigncurrencyborrowingsborrowedforconstructingandproducingtheassetssatisfyingconditionofcapitalization.Asfortheforeigncurrencynon-monetaryitemsmeasuredbyfairvalue,theamountisthenconvertedintoRMBaccordingtothespotexchangerateasoftheconfirmationdayforfairvalue.Andtheconversiondifferenceoccurredduringtheprocedureisrecordedintoprevailinggainsandlossesdirectlyaschangeoffairvalue.Asfortheforeigncurrencynon-monetaryitemsmeasuredbyhistoricalcost,conversionismadewiththespotexchangerateasofthebusinessday,withnochangeinRMBamount.
(2)ConversionofforeigncurrencyfinancialstatementSpotexchangerateasofthebalancesheetdateisadoptedforconversionofassetsandliabilitiesinforeigncurrencybalancesheet;asfortheitemsinstatementofowners’equityexceptfor“Retainedprofit”,conversionismadepursuanttothespotexchangerateofbusinessday;incomeandexpenseitemsinincomestatementthenarealsoconvertedpursuanttothespotexchangerateoftransactionday.Differencearisingfromtheaforementionedconversionsshallbelistedseparatelyinitemsofowners’equity.Spotexchangerateasoftheoccurrencedateofcashflowisadoptedforconversionofforeigncurrencycashflow.Theamountofcashaffectedbyexchangeratemovementshallbelistedseparatelyincashflowstatement.
11.FinancialassetsandliabilitiesAfinancialassetorliabilityisrecognizedwhenthegroupbecomesapartytoafinancialinstrumentcontract.Thefinancialassetsandfinancialliabilitiesaremeasuredatfairvalueon
initialrecognition.Forthefinancialassetsandliabilitiesmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses,therelatedtransactionexpensesaredirectlyincludedincurrentgainsorlosses;forothertypesoffinancialassetsandliabilities,therelatedtransactioncostsareincludedintheinitialrecognitionamount.
(1)MethodfordeterminingthefairvalueoffinancialassetsandfinancialliabilitiesFairvaluereferstothepricethatamarketparticipantcangetbysellinganassetorhastopayfortransferringaliabilityinanorderlytransactionthatoccursonthemeasurementdate.Forafinancialinstrumenthavinganactivemarket,theCompanyusesthequotedpricesintheactivemarkettodetermineitsfairvalue.Quotationsinanactivemarketrefertopricesthatarereadilyavailablefromexchanges,brokers,industryassociations,pricingservices,etc.,andrepresentthepricesofmarkettransactionsthatactuallyoccurinanarm'slengthtransaction.Ifthereisnoactivemarketforafinancialinstrument,theCompanyusesvaluationtechniquestodetermineitsfairvalue.Valuationtechniquesincludereferencetopricesusedinrecentmarkettransactionsbypartiesfamiliarwiththesituationandthroughvoluntarytrade,andreferencetocurrentfairvaluesofotherfinancialinstrumentsthataresubstantiallyidentical,discountedcashflowmethods,andoptionpricingmodels.
(2)CategoryandmeasurementonfinancialassetsThegroupdividedthefinancialassetsasthefollowwhileinitiallyrecognized:thefinancialassetsmeasuredatamortizedcost;thefinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome;andthefinancialassetsmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses.TheclassificationoffinancialassetsdependsonthebusinessmodelthattheGroup'senterprisesmanagethefinancialassetsandthecashflowcharacteristicsofthefinancialassets.
1)ThefinancialassetsmeasuredatamortizedcostFinancialassetsareclassifiedasfinancialassetsmeasuredatamortizedcostwhentheyalsomeetthefollowingconditions:Thegroup'sbusinessmodelformanagingthefinancialassetsistocollectcontractualcashflows;thecontractualtermsofthefinancialassetsstipulatethatcashflowgeneratedonaspecificdateisonlypaidfortheprincipalandinterestbasedontheoutstandingprincipalamount.Forsuchfinancialassets,theeffectiveinterestmethodisusedforsubsequentmeasurementaccordingtotheamortizedcost,andthegainsorlossesarisingfromamortizationorimpairmentareincludedincurrentprofitsandlosses.Suchfinancialassetsmainlyinclude
monetaryfunds,notesreceivable,accountsreceivable,otherreceivables,debtinvestmentandlong-termreceivables,andsoon.TheGroupliststhedebtinvestmentandlong-termreceivablesduewithinoneyear(includingoneyear)fromthebalancesheetdateasnon-currentassetsduewithinoneyear,andliststhedebtinvestmentwithtimelimitwithinoneyear(includingoneyear)whenacquiredasothercurrentassets.
2)FinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeFinancialassetsareclassifiedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomewhentheyalsomeetthefollowingconditions:TheGroup'sbusinessmodelformanagingthefinancialassetsistargetedatboththecollectionofcontractualcashflowsandthesaleoffinancialassets;thecontractualtermsofthefinancialassetstipulatethatthecashflowgeneratedonaspecificdateisonlythepaymentoftheprincipalandtheinterestbasedontheoutstandingprincipalamount.Forsuchfinancialassets,fairvalueisusedforsubsequentmeasurement.Thediscountorpremiumisamortizedbyusingtheeffectiveinterestmethodandisrecognizedasinterestincomeorexpenses.Excepttheimpairmentlossesandtheexchangedifferencesofforeigncurrencymonetaryfinancialassetsarerecognizedasthecurrentprofitsandlosses,thechangesinthefairvalueofsuchfinancialassetsarerecognizedasothercomprehensiveincomeuntilthefinancialassetsarederecognized,theaccumulatedgainsorlossesaretransferredtothecurrentprofitsandlosses.Interestincomerelatedtosuchfinancialassetsisincludedinthecurrentprofitandloss.Suchfinancialassetsarelistedasotherdebtinvestments,otherdebtinvestmentsduewithinoneyear(includingoneyear)fromthebalancesheetdatearelistedasnon-currentassetsduewithinoneyear;andotherdebtinvestmentswithtimelimitwithinoneyear(includingoneyear)whenacquiredarelistedasothercurrentassets.
3)Financialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentgains/lossesFinancialassetsexceptfortheabove-mentionedfinancialassetsmeasuredatamortizedcostandfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeareclassifiedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitsandlosses,whichadoptfairvalueforsubsequentmeasurementandallchangesinfairvalueareincludedincurrentprofitsandlosses.TheGroupclassifiesnon-tradingequityinstrumentsasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitsandlosses.Suchfinancialassetsarepresentedastradingfinancialassets,andthoseexpire
aftermorethanoneyearandareexpectedtobeheldformorethanoneyeararepresentedasothernon-currentfinancialassets.
(3)DevaluationoffinancialinstrumentOnthebasisofexpectedcreditlosses,theGroupperformsimpairmenttreatmentonfinancialassetsmeasuredatamortizedcostandfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeandrecognizetheprovisionsforloss.CreditlossreferstothedifferencebetweenallcontractualcashflowsthattheCompanydiscountsattheoriginalactualinterestrateandarereceivableinaccordancewithcontractandallcashflowsexpectedtobereceived,thatis,thepresentvalueofallcashshortages.Amongthem,forthepurchaseorsourceoffinancialassetsthathavesufferedcreditimpairment,theCompanydiscountsthefinancialassetsattheactualinterestrateadjustedbycredit.TheGroupconsidersallreasonableandevidencedinformation,includingforward-lookinginformation,basedoncreditriskcharacteristics.Whenassessingtheexpectedcreditlossesofreceivables,theyareclassifiedaccordingtothespecificcreditriskcharacteristicsasfollows:
1)Forreceivablesandcontractualassetsandleasereceivables(includingsignificantfinancingcomponentsandnotincludingsignificantfinancingcomponents),theGroupmeasurestheprovisionsforlossbasedontheamountofexpectedcreditlossesequivalenttotheentireduration.
①Evaluateexpectedcreditlossesbasedonindividualitems:creditnotesreceivable(includingacceptedlettersofcredit)offinancialinstitutionsinnotesreceivableandaccountsreceivable,andrelatedpartypayments(relatedpartiesunderthesamecontrolandsignificantrelatedparties);dividendsreceivable,interestreceivable,reservefunds,investmentloans,cashdeposits(includingwarranty),governmentgrants(includingdismantlingsubsidies)inotherreceivables,andreceivableswithsignificantfinancingcomponents(i.e.long-termreceivables);
②TheGroupconsidersallreasonableandevidencedinformation,includingforward-lookinginformation,whenassessingexpectedcreditlosses.Whenthereisobjectiveevidencethatitscustomercreditcharacteristicsandageingcombinationcannotreasonablyreflectitsexpectedcreditloss,thecurrentvalueoftheexpectedfuturecashflowismeasuredbyasingleitem,andthecashflowshortageisdirectlywrittendownthebookbalanceofthefinancialasset.TheGroupconsidersallreasonableandevidencedinformation,includingforward-lookinginformation,whenassessingexpectedcreditlosses.Whenthereisobjectiveevidencethatits
customercreditcharacteristicsandageingcombinationcannotreasonablyreflectitsexpectedcreditloss,thecurrentvalueoftheexpectedfuturecashflowismeasuredbyasingleitem,andthecashflowshortageisdirectlywrittendownthebookbalanceofthefinancialasset.
2)Assesstheexpectedcreditlossesonacase-by-casebasisforotherassetstowhichthefinancialinstrumentsareimpaired,suchastheloancommitmentsandfinancialguaranteecontractsthatarenotmeasuredatfairvaluethroughprofitorloss,financialassetsmeasuredatfairvalueandwhosechangesarerecognizedinothercomprehensiveincome;otherfinancialassetsmeasuredatamortizedcost(suchasothercurrentassets,othernon-currentfinancialassets,etc.).
(4)ReorganizationbasisandmeasuremethodfortransferoffinancialassetsThefinancialassetsmeetoneoffollowingrequirementswillbeterminatedrecognition:①Thecontractrightsofcollectingcashflowofthefinancialassetsisterminated;②Thefinancialassetshasalreadybeentransferred,andtheCompanyhastransferredalmostallrisksandremunerationsoffinancialassetsownershiptothetransferee;③Thefinancialassetshasbeentransferred,eventhoughtheCompanyhasneithertransferrednorkeptalmostallrisksandremunerationsoffinancialassetsownership,theCompanyhasgivenupcontrollingthefinancialassets.Iftheenterprisehasneithertransferredorkeptalmostallrisksandremunerationsoffinancialassetsownership,norgivenupcontrollingthefinancialassets,thenconfirmtherelevantfinancialassetsaccordingtohowitcontinuestoinvolveintothetransferredfinancialassetsandconfirmtherelevantliabilitiesaccordingly.Theextentofcontinuinginvolvementinthetransferredfinancialassetsreferstothelevelofriskarisingfromthechangesinfinancialassetsvaluefacedbytheenterprise.Iftheentiretransferoffinancialassetssatisfiesthedemandforderecognition,reckonthebalancebetweenthebookvalueofthetransferredfinancialassetsandthesumofconsiderationreceivedfromtransferandfluctuationaccumulatedamountoffairvalueformerlyreckonedinotherconsolidatedincomeinthecurrentprofitsandlosses.Ifparttransferoffinancialassetssatisfiesthedemandforderecognition,apportiontheintegralbookvalueofthetransferredfinancialassetsbetweenthederecognizedpartsandthepartsnotyetderecognizedaccordingtoeachrelativefairvalue,andreckonthebalancebetweenthesumofconsiderationreceivedfromtransferandfluctuationaccumulatedamountoffairvalueformerlyreckonedinotherconsolidatedincomethatshouldbeapportionedtothederecognizedpartsandtheapportionedaforementionedcarryingamountsinthecurrentprofitsandlosses.
WhentheGroupsellsfinancialassetsadoptingthemodeofrecourse,orendorsesandtransfersitsfinancialassets,itisnecessarytoensurewhetheralmostalltherisksandrewardsofownershipofthefinancialassetshavebeentransferred.Ifalmostalltherisksandrewardsofownershipofthefinancialassetshavebeentransferredtothetransferee,thefinancialassetsshallbederecognized;ifalmostalltherisksandrewardsofownershipofthefinancialassetsareretained,thefinancialassetsshallnotbederecognized;ifalmostalltherisksandrewardsofownershipofthefinancialassetsareneithertransferrednorretained,continuetojudgewhetherthecompanyretainscontrolovertheassets,andconductaccountingtreatmentaccordingtotheprinciplesdescribedintheprecedingparagraphs.
(5)CategoryandmeasurementoffinancialliabilityFinancialliabilityisclassifiedintofinancialliabilitymeasuredbyfairvalueandwithvariationreckonedintocurrentgains/lossesandotherfinancialliabilityatinitiallymeasurement.
①thefinancialliabilitymeasuredbyfairvalueandwithvariationreckonedintocurrentgains/lossesTheconditionstobeclassifiedastradingfinancialliabilitiesandasfinancialliabilitiesdesignatedtobemeasuredatfairvalueandwhosechangesareincludedincurrentprofitorlossattheinitialrecognitionareconsistentwiththeconditionstobeclassifiedastradingfinancialassetsandasfinancialassetsdesignatedtobemeasuredatfairvalueandwhosechangesareincludedincurrentprofitorlossattheinitialrecognition.Financialliabilitiesmeasuredatfairvalueandwhosechangesareincludedincurrentprofitorlossaresubsequentlymeasuredatfairvalue,andthegainorlossarisingfromchangesinfairvalueandthedividendsandinterestexpenserelatedtothesefinancialliabilitiesareincludedincurrentprofitorloss.
②OtherfinancialliabilityItmustgothroughthedeliveryofthederivativefinancialliabilitiessettledbytheequityinstrumenttolinktotheequityinstrumentsthatarenotquotedinanactivemarketandwhosefairvaluecannotbereliablymeasured,andthesubsequentmeasurementiscarriedoutinaccordancewiththecost.Otherfinancialliabilitiesaresubsequentlymeasuredatamortizedcostbyusingtheeffectiveinterestmethod.Thegainorlossarisingfromderecognitionoramortizationisincludedincurrentprofitorloss.
③Financialguaranteecontract
Thefinancialguaranteecontractofafinancialliabilitywhichisnotdesignatedtobemeasuredatfairvaluethroughprofitorlossisinitiallyrecognizedatfairvalue,anditssubsequentmeasurementiscarriedoutbythehigheronebetweentheamountconfirmedinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.13—ContingenciesafterinitialrecognitionandthebalanceafterdeductingtheaccumulatedamortizationamountdeterminedinaccordancewiththeprincipleofAccountingStandardsforBusinessEnterprisesNo.14—Revenuefromtheinitialrecognitionamount.
(6)TerminationofrecognitionoffinancialliabilityThefinancialliabilityorpartofitcanonlybeterminatedforrecognizedwhenallorpartofthecurrentobligationofthefinancialliabilityhasbeendischarged.TheGroup(debtor)andthecreditorsignanagreementtoreplacetheexistingfinancialliabilitieswithnewfinancialliabilities,andifthecontracttermsofthenewfinancialliabilitiesaresubstantiallydifferentfromtheexistingfinancialliabilities,terminatedforrecognizedtheexistingfinancialliabilitiesandatthesametimerecognizethenewfinancialliabilities.Ifthefinancialliabilityisterminatedforrecognizedinwholeorinpart,thedifferencebetweenthecarryingamountofthepartthatterminatedforrecognizedandtheconsiderationpaid(includingthetransferrednon-cashassetsortheassumednewfinancialliabilities)isincludedincurrentprofitsandlosses.
(7)Off-setbetweenthefinancialassetsandliabilitiesWhentheCompanyhasalegalrighttooffsetarecognizedfinancialassetandafinancialliabilityandsuchlegalrightiscurrentlyenforceable,andtheCompanyplanstosettlethefinancialassetonanetbasisortorealizethefinancialassetandsettlethefinancialliabilitysimultaneously,thefinancialassetandthefinancialliabilityarepresentedinthebalancesheetattheirrespectiveoffsettingamounts.Inaddition,thefinancialassetsandfinancialliabilitiesarepresentedinthebalancesheetseparately,andarenotoffsetagainsteachother.
(8)DerivativesandembeddedderivativesDerivativesareinitiallymeasuredatfairvalueonthesigningdateoftherelevantcontract,andaresubsequentlymeasuredatfairvalue.Exceptforderivativesthataredesignatedashedginginstrumentsandarehighlyeffectiveinhedging,thegainsorlossesarisingfromchangesinfairvaluewillbedeterminedbasedonthenatureofthehedgingrelationshipinaccordancewiththerequirementsofthehedgeaccountingandbeincludedintheperiodofprofitandloss,other
changesinfairvalueofderivativesareincludedincurrentprofitsandlosses.Forahybridinstrumentthatincludesanembeddedderivative,ifitisnotdesignatedasafinancialassetorfinancialliabilitymeasuredatfairvalueandwhosechangesareincludedincurrentprofitorloss,theembeddedderivativedoesnothaveacloserelationshipwiththemaincontractintermsofeconomiccharacteristicsandrisks,andaswithembeddedderivatives,ifthetoolsexistingseparatelyconformtothedefinitionofthederivatives,theembeddedderivativesaresplitfromthehybridinstrumentsandaretreatedasseparatederivativefinancialinstruments.Ifitisnotpossibletomeasuretheembeddedderivativeseparatelyatthetimeofacquisitionorsubsequentbalancesheetdate,thewholehybridinstrumentisdesignatedasafinancialassetorfinancialliabilitymeasuredatfairvalueandwhosechangesareincludedincurrentprofitsandlosses.
(9)EquityinstrumentTheequityinstrumentisthecontracttoprovetheholdingofthesurplusstockoftheassetswiththedeductionofallliabilitiesintheGroup.TheCompanyissues(includingrefinancing),repurchases,sellsorcancelsequityinstrumentsasmovementofequity.NofairvaluechangeofequityinstrumentwouldberecognizedbytheCompany.Transactioncostsassociatedwithequitytransactionsaredeductedfromequity.TheGroup'svariousdistributionstoequityinstrumentholders(excludingstockdividends)reduceshareholders'equity.
12.InventoryInventoriesoftheCompanyprincipallyincluderawmaterials,stockgoods;workinprocess,self-madesemi-finishedproduct,materialsconsignedtoprecede,low-valueconsumptiongoods,goodsintransit,goodsinprocess,mouldandcontractperformancecosts.Perpetualinventorysystemisapplicabletoinventories.Fordailycalculation,standardpriceisadoptedforrawmaterials,low-valueconsumptiongoodsandstockgoods.Switch-backcostofthecurrentmonthisadjustedbydistributionpricedifferenceattheendofthemonth,thedispatchedgoodswillsharethecostdifferencesofinventorywhileinsettlementthebusinessincome;andlow-valueconsumptiongoodsiscarriedforwardatoncewhenbeingappliedforuseandthemouldshallbeamortizedwithinoneyearafterreceipt.Inventoryatperiod-endisvaluedbytheLower-of-valuebetweenthecostandnetrealizablevalue.Theprovisionforinventorydepreciationshallbedrawnfromthedifferencebetweenthebookcost
ofasingleinventoryitemanditsnetrealizablevalue,andtheprovisionforinventorydepreciationshallberecordedintothecurrentprofitandloss.
13.Contractassets
(1)ConfirmationmethodsandstandardsofcontractassetsContractassetsrefertotherightoftheCompanytoreceiveconsiderationaftertransferringgoodstocustomers,andthisrightdependsonfactorsotherthanthepassageoftime.IftheCompanysellstwoclearlydistinguishablecommoditiestoacustomerandhastherighttoreceivepaymentbecauseoneofthecommoditieshasbeendelivered,butthepaymentisalsodependentonthedeliveryoftheothercommodity,theCompanyshalltaketherighttoreceivepaymentasacontractasset.
(2)DeterminationmethodandaccountingtreatmentmethodofexpectedcreditlossofcontractassetsForthedeterminationmethodforexpectedcreditlossofcontractassets,pleaserefertotheabove-mentionedAccountingtreatmentmethodsforfinancialinstrumentimpairment.TheCompanycalculatestheexpectedcreditlossofcontractassetsonthebalancesheetdate,iftheexpectedcreditlossisgreaterthanthebookvalueofprovisionforimpairmentofcontractassets,theCompanyshallrecognizethedifferenceasanimpairmentloss,debitingthe"assetimpairmentloss"andcreditingthe"contractassetimpairmentprovision".Onthecontrary,theCompanyshallrecognizethedifferenceasanimpairmentgainandkeeptheoppositeaccountingrecords.IftheCompanyactuallyincurscreditlossesanddeterminesthattherelevantcontractassetscannotberecovered,forthoseapprovedtobewrittenoff,debitthe"contractassetimpairmentreserve"andcreditthe"contractedasset"basedontheapprovedwrite-offamount.Ifthewritten-offamountisgreaterthantheprovisionforlossthathasbeenwithdrawn,the"assetimpairmentloss"isdebitedbasedonthedifference.
14.Contractcost
(1)ThemethodofdeterminingtheamountofassetsrelatedtothecontractcostTheCompany’sassetsrelatedtocontractcostsincludecontractperformancecostandcontractacquisitioncost.
ThecontractperformancecostisthecostincurredbytheCompanyfortheperformanceofthecontract,thosethatdonotfallwithinthescopeofotheraccountingstandardsandmeetthefollowingconditionsatthesametimearerecognizedasasanassetasthecontractperformancecost:thecostisdirectlyrelatedtoacurrentorexpectedcontract,includingdirectlabor,directmaterials,manufacturingexpenses(orsimilarexpenses),costsclarifiedtobebornebythecustomer,andothercostsincurredsolelyduetothecontract;thiscostincreasestheCompany'sfutureresourcesforfulfillingthecontract'sperformanceobligations;thiscostisexpectedtoberecovered.ContractacquisitioncostistheincrementalcostincurredbytheCompanytoobtainthecontract,thosethatareexpectedtoberecoveredarerecognizedasthecontractacquisitioncostasanasset;iftheassetamortizationperioddoesnotexceedoneyear,itshallbeincludedinthecurrentprofitandlosswhenitoccurs.Incrementalcostreferstothecost(suchassalescommission,etc.)thatwillnotincuriftheCompanydoesn’tobtainthecontract.TheCompany’sexpenses(suchastravelexpensesincurredregardlessofwhetherthecontractisobtained)incurredforobtainingthecontractotherthantheincrementalcostsexpectedtoberecoveredareincludedinthecurrentprofitsandlosseswhentheyareincurred,exceptthoseareclarifiedtobebornebythecustomer.
(2)AmortizationofassetsrelatedtocontractcostsTheCompany’sassetsrelatedtocontractcostsareamortizedonthesamebasisastherecognitionofcommodityincomerelatedtotheassetandincludedinthecurrentprofitandloss.
(3)ImpairmentofassetsrelatedtocontractcostsWhentheCompanydeterminestheimpairmentlossofassetsrelatedtothecontractcost,itfirstdeterminestheimpairmentlossofotherassetsrelatedtothecontractthatareconfirmedinaccordancewithotherrelevantaccountingstandardsforbusinessenterprises;thenbasedonthedifferencebetweenthebookvalueofwhichishigherthantheremainingconsiderationthattheCompanyisexpectedtoobtainduetothetransferofthecommodityrelatedtotheassetandtheestimatedcostoftransferringtherelatedcommodity,theexcessshallbeprovidedforimpairmentandrecognizedasanassetimpairmentloss.Ifthedepreciationfactorsofthepreviousperiodchangedlater,causingtheaforementioneddifferencetobehigherthanthebookvalueoftheasset,theoriginalprovisionforassetimpairmentshallbereversedandincludedinthecurrentprofitandloss,butthebookvalueoftheassetafterthereversalshallnotexceedthebookvalueoftheassetonthereversaldateundertheassumption
thatnoimpairmentprovisionismade.
15.Long-termequityinvestmentLong-termequityinvestmentoftheCompanyismainlyaboutinvestmentinsubsidiary,investmentinassociatesandinvestmentinjoint-ventures.Forlong-termequityinvestmentsacquiredthroughbusinesscombinationundercommoncontrol,theinitialinvestmentcostshallbetheacquirer’sshareofthecarryingamountofnetassetsoftheacquireeasofthecombinationdateasreflectedintheconsolidatedfinancialstatementoftheultimatecontroller.Ifthecarryingamountofnetassetsoftheacquireeasofthecombinationdateisnegative,theinvestmentcostoflong-termequityinvestmentshallbezero.Forlong-termequityinvestmentacquiredthroughbusinesscombinationnotundercommoncontrol,theinitialinvestmentcostshallbethecombinationcost.Excludingthelong-termequityinvestmentacquiredthroughbusinesscombination,thereisalsoakingoflong-termequityinvestmentacquiredthroughcashpayment,forwhichtheactualpaymentforthepurchaseshallbeinvestmentcost;IfLong-termequityinvestmentsareacquiredbyissuingequitysecurities,fairvalueofissuingequityinvestmentshallbeinvestmentcost;forLong-termequityinvestmentswhichareinvestedbyinvestors,theagreedpriceininvestmentcontractoragreementshallbeinvestmentcost;andforlong-termequityinvestmentwhichisacquiredthroughdebtreorganizationandnon-monetaryassetsexchange,regulationsofrelevantaccountingstandardsshallbereferredtoforconfirminginvestmentcost.TheCompanyadoptscostmethodforinvestmentinsubsidiaries,makescalculationforinvestmentsinjoint-venturesandassociatesbyequitymethod.Whencalculatedbycostmethod,long-termequityinvestmentispricedaccordingtoitsinvestmentcost,andcostoftheinvestmentisadjustedwhenmakingadditionalinvestmentorwritingoffinvestment;Whencalculatedbyequitymethod,currentinvestmentgainsandlossesrepresenttheproportionofthenetgainsandlossesrealizedbytheinvestedunitincurrentyearattributabletoorundertakenbytheinvestor.WhentheCompanyisbelievedtoenjoyproportionofnetgainsandlossesofinvestedunit,gainsandlossesattributabletotheCompanyaccordingtoitsshareholdingratioistocomputeroutaccordingtotheaccountingpolicyandaccountingperiodoftheCompany,onthebasisofthefairvalueofvariousrecognizableassetsoftheinvestedunitasatthedateofobtainingoftheinvestment,afteroffsetofgainsandlossesarisingfrominternaltransactionswithassociatesandjoint-ventures,andfinallytomakeconfirmationafteradjustment
ofnetprofitoftheinvestedunit.Confirmationongainsandlossesfromthelong-termequityinvestmentinassociatesandjoint-venturesheldbytheCompanypriortothefirstexecutionday,couldonlystandupwiththeprecedentconditionthatdebitbalanceofequityinvestmentstraightlyamortizedaccordingtoitsoriginalremainingtermhasalreadybeendeducted,iftheaforementionedbalancerelatingtotheinvestmentdoexist.Incasethatinvestorlosesjointcontrolorsignificantinfluenceoverinvesteeduetodisposalofpartequityinterestinvestment,theremainingequityinterestshallbecalculatedaccordingtoAccountingStandardsforBusinessEnterpriseNo.22-RecognitionandMeasurementofFinancialInstrument.Differencebetweenthefairvalueoftheremainingequityinterestasofthedatewhenlossofjointcontrolorsignificantinfluenceandthecarryingvalueisincludedincurrentgainsandlosses.Othercomprehensiveincomerecognizedinrespectoftheoriginalequityinterestinvestmentunderequitymethodshouldbetreatedaccordingtothesamebasiswhichtheinvesteeadoptstodirectlydisposetherelevantassetsorliabilitieswhenceasingadoptionofequitymethodcalculation;andalsoswitchestocostmethodforcalculatingthelong-termequityinvestmentswhichentitlestheCompanytohaveconductcontrolovertheinvestedunitsduetoitsadditionalinvestments;andswitchestoequitymethodforcalculatingthelong-termequityinvestmentswhichentitlestheCompanytoconductcommoncontrolorsignificantinfluence,whilenocontrolovertheinvestedunitsduetoitsadditionalinvestments,orthelong-termequityinvestmentswhichentitlestheCompanywithnocontrolovertheinvestedunitsanylongerwhilewithcommoncontrolorsignificantinfluence.Whendisposinglong-termequityinvestment,thebalancebetweenitcarryingvalueandeffectivepriceforobtainingshallberecordedintocurrentinvestmentincome.Whendisposinglong-termequityinvestmentwhichiscalculatedbyequitymethod,theproportionoriginallyrecordedinowners’equityshallbetransferredtocurrentinvestmentincomeaccordingtorelevantratio,exceptforthatothermovementsofowners’equityexcludingnetgainsandlossesoftheinvestedunitsshallberecordedintoowners’equity
16.InvestmentrealestateTheinvestmentrealestateoftheCompanyincludesleasedhousesandbuildings,andisaccountedvaluebyitscost.Costofpurchased-ininvestmentrealestateconsistsofpaymentforpurchase,relevanttaxesandotherexpenditurewhichisattributabletotheassetsdirectly;whilecostofself-builtinvestmentrealestateisformedwithallnecessaryexpendituresoccurredbeforeconstructioncompletionoftheassetsarrivingattheestimatedutilizationstate.
Consequentmeasurementofinvestmentestateshallbemeasuredbycostmethod.Depreciationisprovidedwithaverageservicelifemethodpursuanttothepredictedservicelifeandnetrateofsalvagevalue.Thepredictedservicelifeandnetrateofsalvagevalueandannualdepreciationarelistedasfollows:
| Category | Depreciationterm(Year) | Predictedrateofsalvagevalue(%) | Depreciationrateperannual(%) |
| Houseandbuildings | 30-40 | 4.00-5.00 | 2.375-3.20 |
Wheninvestmentrealestateturnstobeusedbyholders,itshallswitchtofixedassetsorintangibleassetscommencingfromthedateofsuchturning.Andwhenself-usedrealestateturnstobeleasedoutforrentaloradditionalcapital,thefixedassetsorintangibleassetsshallswitchtoinvestmentrealestatecommencingfromthedateofsuchturning.Insituationofswitch,thecarryingvaluebeforetheswitchshallbedeemedasthecreditvalueaftertheswitch.
Wheninvestmentrealestateisdisposed,oroutofutilizationforeverandnoeconomicbenefitwouldbepredictedtoobtainthroughthedisposal,theCompanyshallterminaterecognitionofsuchinvestmentrealestate.Theamountofincomefromdisposal,transfer,discardingasscrapordamageofinvestmentrealestateafterdeductingtheasset’scarryingvalueandrelevanttaxationshallbewrittenintocurrentgainsandlosses.
17.FixedassetsFixedassetsoftheCompanyaretangibleassetsthatarealsoheldfortheproductionofgoods,provisionofservices,rentalormanagementofoperations,haveausefullifeofmorethanoneyearandhaveaunitvalueofmorethan2,000yuan.
Theircreditvalueisdeterminedonthebasisofthecosttakenforobtainingthem.Ofwhich,costofpurchased-infixedassetsincludebiddingpriceandimportdutyandrelevanttaxes,andotherexpenditurewhichoccursbeforethefixedassetsarriveatthestateofpredictedutilizationandwhichcouldbedirectlyattributabletotheassets;whilecostofself-builtfixedassetisformedwithallnecessaryexpendituresoccurredbeforeconstructioncompletionoftheassetsarrivingattheestimatedutilizationstate;creditvalueofthefixedassetsinjectedbyinvestorsisdeterminedbasedontheagreedvalueofinvestmentcontractsoragreements,whileasfortheagreedvalueof
investmentcontractsoragreementswhichisnotfair,itshalltakeitsfairvalueascreditvalue;andforfixedassetswhichareleasedinthroughfinanceleasing,creditvalueistheloweroffairvalueofleasedassetsandpresentvalueofminimizedleasingpaymentasatthecommencingdateofleasing.Consequentexpenditurerelatedtofixedassetsconsistsofexpendituresforrepairandupdatereform.Forthosemeetingrequirementsforrecognizationoffixedassets,theywouldbeaccountedasfixedassetcost;andforthepartwhichisreplaced,recognizationofitscarryingvalueshallcease;forthosenotmeetingrequirementsforrecognizationoffixedassets,theyshallbeaccountedincurrentgainsandlossesaslongastheyoccur.Whenfixedassetisdisposed,ornoeconomicbenefitwouldbepredictedtoobtainthroughutilizationordisposaloftheasset,theCompanyshallterminaterecognizationofsuchfixedasset.Theamountofincomefromdisposal,transfer,discardingasscrapordamageoffixedassetafterdeductingtheasset’scarryingvalueandrelevanttaxationshallbewrittenintocurrentgainsandlosses.TheCompanywithdrawsdepreciationforallfixedassetsexceptforthosewhichhavebeenfullydepreciatedwhilecontinuingtouse.Itadoptsaverageservicelifemethodforwithdrawingdepreciationwhichistreatedrespectivelyascostorcurrentexpenseofrelevantassetsaccordingtopurposeofuse.Thedepreciationterm,predictedrateofsalvagevalueanddepreciationrateappliedtofixedassetsoftheCompanyareasfollows:
| Category | Depreciationterm | Predictedrateofsalvagevalue | Depreciationrateperyear |
| Houseandbuildings | 30-40years | 4%-5% | 2.375%-3.20% |
| Machineryequipment | 10-14years | 4%-5% | 6.786%-9.60% |
| Transportequipment | 5-12years | 4%-5% | 7.92%-19.20% |
| Otherequipment | 8-12years | 4%-5% | 7.92%-12.00% |
Endofeachyear,theCompanymakesre-examinationonpredictedservicelife,predictedrateofsalvagevalueanddepreciationmethodateachyear-end.Anychangewillbetreatedasaccountingestimationchange.
18.Constructioninprogress
Onthedaywhentheconstructioninprogressreachestheexpectedusablestate,itwillbecarriedforwardtofixedassetsaccordingtotheestimatedvaluebasedontheconstructionbudget,costoractualconstructioncost,anddepreciationwillbeaccruedfromthenextmonth,andthedifferenceintheoriginalvalueoffixedassetsshallbeadjustedafterthecompletionofthefinalaccountingprocedures.
19.BorrowingexpenseFortheincurredborrowingexpensethatcanbedirectlyattributabletofixedassets,investmentrealestate,andinventorywhichrequiremorethanoneyearofpurchase,constructionorproductionactivitiestoreachtheintendedusableorsaleablestate,thecapitalizationbeginswhentheassetexpenditurehasoccurred,theborrowingexpensehaveoccurred,andtheacquisition,constructionorproductionactivitiesnecessarytomaketheassetreachtheintendedusableorsaleablestatehavebegun;whentheacquisition,constructionorproductionofassetsthatmeetthecapitalizationconditionsreachestheintendedusableorsaleablestate,stopthecapitalization,theborrowingexpenseincurredthereafterareincludedinthecurrentprofitandloss.Ifanassetthatmeetsthecapitalizationconditionsisabnormallyinterruptedduringtheacquisition,constructionorproductionprocess,andtheinterruptionlastsformorethan3months,thecapitalizationofborrowingexpenseshallbesuspendeduntiltheacquisition,constructionorproductionactivitiesoftheassetrestart.Capitalizationshallbeexercisedforinterestexpenseactuallyoccurredfromspecialborrowingsincurrentperiodafterdeductionoftheinterestincomearisingfromunutilizedborrowingcapitalwhichissavedinbanksordeductionofinvestmentincomeobtainedfromtemporaryinvestment;Forrecognizationofcapitalizedamountofcommonborrowing,itequalstotheweightedaverageoftheassetswhoseaccumulatedexpenseorcapitaldisburseismorethancommonborrowingtimescapitalizationrateofoccupiedcommonborrowing.Capitalizationrateisdeterminedaccordingtoweightedaverageinterestrateofcommonborrowing.
20.Right-of-useassetsUponbecomingalesseeunderaleasecontract,theCompanyisentitledtoreceivesubstantiallyalloftheeconomicbenefits,arisingfromtheuseoftheidentifiedassetsduringtheperiodofuseandisentitledtorecognizedtheright-of-useassetsatthesumofthepresentvalueoftheleaseliability,prepaidrentandinitialdirectcosts,andtorecognizedthedepreciationandinterestexpenses
respectively,whentheuseoftheidentifiedassetsdominatesduringthatperiodofuse.WhentheCompanybecomesthelesseeofaleasecontract,forshort-termleasesoflessthanoneyearwithoutapurchaseoptionandleaseswithavalueoflessthan40000yuan(excludingsubleaseorexpectedsubleaseassets),theCompanyelectstofollowsimplifiedtreatmentandrecordtherelatedassetsatcostorcurrentgain/lossonastraight-linebasisovertheleaseperiod.
21.Intangibleassets
(1)Valuationmethod,servicelifeandimpairmenttestTheCompany’sintangibleassetsincludelanduserights,trademarkrightsandnon-proprietarytechnology,whicharemeasuredatactualcostatthetimeofacquisition,ofwhich,acquiredintangibleassetsarestatedatactualcostbasedonthepriceactuallypaidandrelatedotherexpenditure;theactualcostofanintangibleassetinvestedbyaninvestorisdeterminedatthevalueagreedintheinvestmentcontractoragreement,exceptwheretheagreedvalueinthecontractoragreementisnotfair,inwhichcasetheactualcostisdeterminedatfairvalue.TheCompanyanalyzesandjudgestheservicelifeofintangibleassetswhenacquiringthem.Intangibleassetswithdefiniteservicelife,suchaslanduserights,areamortizedbythestraight-linemethodduringtheservicelifefromthetimewhentheintangibleassetsareavailableforuseuntiltheyarenolongerrecognizedasintangibleassets.Otherintangibleassetsshallbeamortizedaccordingtotheservicelifestipulatedinthecontractorlaw.Intangibleassetswithuncertainservicelifeshallnotbeamortized.IntangibleassetsdevelopedbytheCompanyshallbegenerallyamortizedonanaverageof3-5yearsaccordingtothebenefitperiodoftheresultsoftheprojectrecognizedinadvance.Theservicelifeandamortizationmethodofintangibleassetswithlimitedservicelifeshallbereviewedattheendoftheyear.Iftheestimatedservicelifeandamortizationmethodofintangibleassetsaredifferentfromthosepreviouslyestimated,theamortizationperiodandamortizationmethodshallbechanged.Theservicelifeofintangibleassetswithuncertainservicelifeshallberechecked.Ifthereisevidencethattheirservicelifeislimited,estimatetheirservicelifeandtreatthemasintangibleassetswithlimitedservicelife.Ifthereisanychangeaftertherecheck,itwillberegardedasthechangeofaccountingestimate.
(2)CollectionscopeofR&DexpenditureandrelatedaccountingtreatmentmethodsTheCompany'sR&DexpenditureisdirectlyrelatedtotheCompany'sR&Dactivities,including
R&Dstaffsalaries,directinputexpenses,depreciationexpensesandotherexpenses.TheR&DexpenditureoftheCompanyisdividedintoresearchstageexpenditureanddevelopmentstageexpenditureaccordingtoitsnatureandwhetherthereisgreatuncertaintyinthefinalformationofintangibleassetsfromR&Dactivities.Researchstageexpenditureisincludedinthecurrentprofitsandlosseswhenitoccurs;Developmentstageexpenditureisrecognizedasintangibleassetsifitmeetsthefollowingconditionsatthesametime:(1)Itistechnicallyfeasibletocompletetheintangibleassetssothattheycanbeusedorsold;(2)Ithastheintentiontocompletetheintangibleassetsanduseorsellthem;(3)Theproductsproducedbyusingtheintangibleassetsexistinthemarketortheintangibleassetsthemselvesexistinthemarket;(4)Ithassufficienttechnical,financialandotherresourcestosupportthedevelopmentoftheintangibleassets,andhastheabilitytouseorselltheintangibleassets;(5)Expenditureattributabletothedevelopmentstageoftheintangibleassetscanbereliablymeasured.-Expenditureattributabletodevelopmentoftheintangibleassetscouldbereliablemeasured.Expenditurearisingduringdevelopmentnotsatisfyingtheaboveconditionsshallberecordedincurrentgainsandlossesuponoccurrence.Developmentexpenditurewhichhadbeenrecordedingainsandlossesinpreviousperiodwouldnotberecognizedasassetsinlaterperiod.Expenditurearisingduringdevelopmentphasewhichhasbeenstartingcapitalizationislistedinbalancesheetasdevelopmentexpenditure,andtransferredtointangibleassetssincetheprojectreachesatpredictedutilizationstate.
22.Impairmentoflong-termassetsAsateachbalancesheetdate,theCompanyhasinspectiononfixedassets,constructioninprocessandintangibleassetswithlimitedservicelife.Whenthefollowingindicationsappear,assetsmaybeimpaired,andtheCompanywouldhaveimpairmenttest.Asforgoodwillandintangibleassetswhichhaveuncertainservicelife,nomatterthereisimpairmentornot,impairmenttestshallbeconductedattheendofeveryyear.Ifitishardtomaketestonrecoverableamountofsingleasset,testisexpectedtomakeonthebasisoftheassetsgrouporassetsgroupportfoliowheresuchassetbelongsto.
Indicationsforimpairmentareasfollows:
(1)Marketvalueofassetdropsalotincurrentperiod,thedropscopeisobviouslygreaterthanthepredicteddropduetomove-onoftimesornormalutilization;
(2)Economy,technologyorlawenvironmentwhereenterpriseoperatesormarketwhereassetislocatedwillhavesignificantchangeincurrentorrecentperiods,whichbringsnegativeinfluencetoenterprise;
(3)Marketinterestrateorreturningrateofothermarketinvestmentshaverisenincurrentperiod,whichbringsinfluenceincalculatingdiscountrateofpresentvalueofpredictedfuturecashflowofassets,whichleadstoagreatdropinrecoverableamountofsuchassets;
(4)Evidenceprovingthatassetisobsoleteandoutoftimeoritsentityhasbeendamaged;
(5)Assethasbeenorwillbekeepaside,terminatingutilizationordisposedadvance;
(6)Internalreportofenterpriseshowsthateconomicperformanceofassethasbeenorwillbelowerthanprediction,suchasthatnetcashflowcreatedbyassetoroperationprofit(orloss)realizedbyassetisgreatlylower(orhigher)thanthepredictedamount;
(7)Otherindicationsshowingpossibleimpairmentofassets
Afterimpairmenttest,ifthecarryingvalueexceedstherecoverableamountoftheasset,thebalanceisrecognizedasimpairmentloss.Aslongasimpairmentlossoftheaforementionedassetsisrecognized,itcouldn’tbeswitchedbackinlateraccountingperiods.Recoverableamountofassetsreferstothehigheroffairvalueofassetsnetdisposalexpenseandpresentvalueofpredictedcashflowoftheasset.
23.ContractliabilityContractliabilitiesreflecttheCompany'sobligationtotransfergoodstocustomersforconsiderationreceivedorreceivablefromcustomers.BeforetheCompanytransfersthegoodstothecustomer,ifthecustomerhaspaidthecontractconsiderationortheCompanyhasobtainedtherighttounconditionallyreceivethecontractconsideration,thecontractliabilityisrecognizedbasedonthereceivedorreceivableamountattheearliertimepointoftheactualpaymentbythecustomerandthepaymentdue.
24.GoodwillGoodwillrepresentsbalancebetweenequityinvestmentcostorbusinesscombinationcostundernocommoncontrolexceedingtheattributablepartorfairvalueofrecognizablenetassetsofpartyinvestedorpurchased(obtainedthroughbusinesscombination)asofacquisitiondayorpurchaseday.
Goodwillrelatingtosubsidiariesisseparatelylistedinconsolidatedfinancialstatement.Andgoodwillrelatingtoassociatesandjoint-venturesisincludedincarryingvalueoflong-termequityinvestment.
25.Long-termdeferredexpensesThecompany'slong-termdeferredexpensesrefertotheexpensesthathavebeenpaid,butshouldbebornebythecurrentperiodandfutureperiodswithanamortizationperiodofmorethanoneyear(excludingoneyear),andtheseexpensesareamortizedevenlyduringthebenefitperiod.Ifthelong-termdeferredexpenseitemcannotbenefitthefutureaccountingperiod,alltheamortizedvalueoftheitemthathasnotbeenamortizedwillbetransferredintothecurrentprofitandloss.
26.StaffremunerationEmployeebenefitsmainlyincludeallkindsofremunerationincurredinexchangeforservicesrenderedbyemployeesorcompensationtotheterminationofemploymentrelationshipsuchasshort-termwages,post-employmentbenefits,compensationfortheterminationofemploymentrelationshipandotherlong-termemployeewelfare.Short-termremunerationincludes:staffsalary,bonus,allowancesandsubsidies,staffbenefits,socialinsuranceslikemedicalinsurance,work-relatedinjuryinsuranceandmaternityinsurance,housingfund,laborunionfundsandstaffeducationfunds,short-termpaidabsenceofduty,short-termprofitsharingscheme,andnon-monetarybenefitsaswellasothershort-termremuneration.Duringtheaccountingperiodwhenstaffprovidesservices,theshort-termremunerationactuallyoccurredisrecognizedasliabilitiesandshallbeincludedincurrentgainsandlossesorrelatedassetcostsaccordingtothebeneficialitems.Retirementbenefitsmainlyconsistofbasicpensioninsurance,unemploymentinsuranceandearly-retirementbenefits,etc.retirementbenefitschemerepresentstheagreementreachedbytheCompanyanditsemployeesinrespectofretirementbenefits,ortherulesorregulationsestablishedbytheCompanyforprovidingretirementbenefitstoemployees.Inparticular,definedcontributionplanmeansaretirementbenefitplan,pursuanttowhich,theCompanymakesfixedcontributiontoindependentfund,uponwhich,anditisnotobligedtomakefurtherpayment.Definedbenefitplanreferstoretirementbenefitschemeotherthandefinedcontributionplan.
TheearlyretirementpolicyforstaffandworkersoftheCompanyisthecompensationforencouragingstaffandworkerstoacceptthereductionvoluntarily.Theemployeesmakeapplicationsvoluntarily,thetwopartiessignthecompensationagreementafterapprovedbytheCompanyandcalculatethecompensationamountaccordingtothecompensationstandardpassedbythestaffrepresentativeconference,andtheCompanyconfirmsitasdismisswelfareandreckonsitincurrentprofitsandlosses.AstheCompanypromisestoadjustthetreatmentforearlyretiringstaffandworkerswiththeincreaseofsocialbasiccostoflivingallowances,thediscountelementswillnotbeconsideredforcalculatingthedismisswelfare.
27.LeaseliabilityUponbecomingalesseeunderaleasecontract,theCompanyrecognizesaleaseliabilityfortheleased-inassetatthepresentvalueoftheunpaidleasepayments,netofleaseincentives(exceptforshort-termleasesandleasesoflow-valueassetsforwhichsimplifiedtreatmentiselected),whenitisentitledtoreceivesubstantiallyalloftheeconomicbenefitsarisingfromtheuseoftheidentifiedassetduringtheperiodofuseandisentitledtodominatetheuseoftheidentifiedassetduringthatperiodofuse.
28.AccrualliabilityIfthebusinessinconnectionwithsuchcontingenciesasasecurityinvolvingaforeignparty,commercialacceptancebilldiscount,pendinglitigationorarbitration,productqualityassurance,etc.meetsallofthefollowingconditions,theCompanywillconfirmtheaforesaidasliabilities:
theobligationisanexistingobligationoftheCompany;performanceoftheobligationislikelytocauseeconomicbenefitstoflowoutoftheenterprise;theamountoftheobligationisreliablymeasurable.
29.SpecialreserveTheworksafetyexpenseextractedaccordingtotheregulationswillbeincludedinthecostofrelatedproductsorthecurrentprofitandloss,andalsoincludedinthespecialreserve;Whenused,itwillbetreatedseparatelyaccordingtowhetherfixedassetsareformedornot:ifitisanexpenseexpenditure,thespecialreservewillbedirectlyoffset;Ifthefixedassetsareformed,theexpensesincurredshallbecollected,andthefixedassetsshallbeconfirmedwhenthepredeterminedusablestateisreached,andatthesametime,theequivalentspecialreserveshallbeoffsetandtheequivalentaccumulateddepreciationshallbeconfirmed.
30.RevenueTheCompany’ssalesrevenueismainlycomprisedofrevenuefromsaleofgoods,laborprovidingincomeandrevenuefromassignmentofassetuserights.TheCompanyhasfulfilledtheperformanceobligationsinthecontract,thatis,revenueisrecognizedwhenthecustomerobtainscontroloftherelevantgoodsorservices.Ifthecontractcontainstwoormoreperformanceobligations,theCompanywillallocatethetransactionpricetoeachindividualperformanceobligationaccordingtotherelativeproportionofthestand-alonesellingpriceofthegoodsorservicespromisedbyeachindividualperformanceobligationonthedateofthecontract.Therevenueismeasuredaccordingtothetransactionpriceofeachindividualperformanceobligation.ThetransactionpriceistheamountofconsiderationthattheCompanyexpectstobeentitledtoreceiveduetothetransferofgoodsorservicestocustomers,excludingpaymentsonbehalfofthirdparties.ThetransactionpriceconfirmedbytheCompanydoesnotexceedtheamountatwhichthecumulativelyrecognizedrevenuewillmostlikelynottoundergoasignificantswitchbackwhentherelevantuncertaintyiseliminated.Themoneyexpectedtobereturnedtothecustomerwillberegardedasareturnliabilityandnotincludedinthetransactionprice.Ifthereisasignificantfinancingcomponentinthecontract,theCompanyshalldeterminethetransactionpricebasedontheamountpayableontheassumptionthatthecustomerpaysincashwhenobtainingthecontrolofthegoodsorservices.Thedifferencebetweenthetransactionpriceandthecontractconsiderationshallbeamortizedbytheeffectiveinterestmethodduringthecontractperiod.Onthestartingdateofthecontract,iftheCompanyexpectsthattheintervalbetweenthecustomer'sacquisitionofcontrolofthegoodsorservicesandthecustomer'spaymentofthepricedoesn’texceedoneyear,thesignificantfinancingcomponentsinthecontractshallberuledout.Whenmeetingoneofthefollowingconditions,theCompanyistoperformitsperformanceobligationswithinacertainperiodoftime,otherwise,itistoperformitsperformanceobligationsatacertainpointintime:
1)ThecustomerobtainsandconsumestheeconomicbenefitsbroughtbytheCompany'sperformanceatthesametimeastheCompany'sperformance;
2)Customerscancontroltheproductsunderconstructionduringtheperformanceofthe
Company;
3)ThegoodsproducedbytheCompanyduringtheperformanceofthecontracthaveirreplaceableuses,andtheCompanyhastherighttocollectpaymentfortheaccumulatedperformancepartofthecontractduringtheentirecontractperiod.Forperformanceobligationsperformedwithinacertainperiodoftime,theCompanyrecognizesrevenueinaccordancewiththeperformanceprogressduringthatperiodanddeterminetheprogressofperformanceinaccordancewiththeoutputmethod.Whentheperformanceprogresscannotbereasonablydetermined,ifthecostincurredbytheCompanyisexpectedtobecompensated,therevenueshallberecognizedaccordingtotheamountofthecostincurreduntiltheperformanceprogresscanbereasonablydetermined.Forperformanceobligationsperformedatacertainpointintime,theCompanyrecognizesrevenueatthepointwhenthecustomerobtainscontroloftherelevantgoodsorservices.Whenjudgingwhetheracustomerhasobtainedcontrolofgoodsorservices,theCompanywillconsiderthefollowingsigns:
1)TheCompanyhasthecurrentrighttocollectpaymentforthegoodsorservices;
2)TheCompanyhastransferredthegoodsinkindtothecustomer;
3)TheCompanyhasphysicallytransferredthegoodstothecustomer;
4)TheCompanyhastransferredtheprincipalrisksandrewardsofownershipofthegoodstothecustomer;
5)Thecustomerhasacceptedthegoodsorservices,etc.TheCompany’srighttoreceiveconsiderationforgoodsorservicesthathavebeentransferredtocustomersarepresentedascontractualassets,whichareimpairedonthebasisofexpectedcreditlosses.TheCompany’sunconditionalrighttoreceiveconsiderationfromcustomersisshownasaaccountreceivable.TheobligationtotransfergoodsorservicestocustomersforwhichtheCompanyhasreceivedconsiderationreceivablefromthemisshownasacontractualliability.
Specificmethodsofincomerecognition:
1.IncomefromtransferofcommoditiesForthecommoditiessoldbetweentheCompanyandcustomers,incomeisusuallyrecognizedatthetimewhenthecontrolrightofthecommodities
istransferred,basedoncomprehensiveconsiderationofthefactorssuchasobtainingthecurrentrighttocollectthecommoditypayment,thetransferofthemainrisksandrewardsintheownershipofthecommodities,thetransferofthelegalownershipofthecommodities,thetransferofthephysicalassetsofthecommodities,andtheacceptanceofthecommoditiesbythecustomers.Forthegoodspickedupbythemerchantsthemselves,theincomeisrecognizedwhenthegoodsarepickedup;Forthegoodsdeliveredbylogistics,theincomeisrecognizedwhenthegoodsaredeliveredatthemerchantforsigning;Forthesalesbusinesswithconsignmentcharacteristics,accordingtothecontract,theincomeisrecognizedwhenthemerchantprovidesthecommoditysettlementlist;Forthesalesbusinessthroughonlinesaleschannels,whenthecommoditiesaredeliveredtocustomersforreceipt,itisregardedasthemainriskandrewardsontheownershipofthecommoditiesaretransferred,andtherealizationofthesalesincomeofthecommoditiesisrecognized;Withregardtoexportincome,accordingtothecontract,afterthegoodsaredeliveredtotheportorplacedesignatedbythecustomerortothecarrierdesignatedbythecustomer,andthecustomsdeclarationispassed,theincomeisrecognized.
2.IncomefromprovidinglaborservicesForthequalityassuranceservice,theservicehasbeenprovidedaccordingtothecontract,andtheincomeisrecognizedwhenthepaymentisreceivedorthedocuments(includingtheamount)signedbythecustomerareobtained(unlessitisindicatedthatitisnotaconditionforincomerecognition);Fortechnicaldevelopmentservice,theservicehasbeenprovidedaccordingtothecontract,andtheincomeisrecognizedaccordingtothebusinessrecognitiondocumentsofbothparties;Forotherengineeringservices,theincomeisrecognizedbystagesaccordingtotheprojectperformanceprogress,andtheperformanceprogressisdeterminedaccordingtotheoutputmethod.
31.GovernmentsubsidyGovernmentsubsidyoftheCompanyincludeprojectgrants,financialsubsidiesandjobstabilizationsubsidies.Ofwhich,asset-relatedgovernmentsubsidyaregovernmentsubsidyacquiredbytheCompanyfortheacquisitionorotherformationoflong-termassets;governmentsubsidyrelatedtorevenuearegovernmentsubsidyotherthanthoserelatedtoassets.Ifthegovernmentdocumentdoesnotclearlyspecifythesubsidyobject,theCompanywilljudge
AnnotationsofFinancialStatementsofChanghongMeilingCo.,Ltd.
From1January2025to30June2025(Unlessotherwisespecified,RMBforrecordintheStatement)
accordingtotheabove-mentioneddistinguishingprinciple.Ifitisdifficulttodistinguish,itwillbeoverallclassifiedasagovernmentsubsidyrelatedtoincome.Ifgovernmentsubsidiesaremonetaryassets,theyaremeasuredaccordingtotheamountactuallyreceived.Forsubsidiespaidonthebasisofafixedquotastandard,whenthereisconclusiveevidenceattheendoftheyearthatitcanmeettherelevantconditionsstipulatedbythefinancialsupportpolicyandisexpectedtoreceivefinancialsupportfunds,theyaremeasuredaccordingtotheamountreceivable.Ifthegovernmentsubsidyisanon-monetaryasset,itshallbemeasuredatitsfairvalue,whenthefairvaluecannotbeobtainedreliably,itshallbemeasuredatitsnominalamount(1yuan).Governmentsubsidiesrelatedtoassetsarerecognizedasdeferredincome.Asset-relatedgovernmentsubsidiesthatarerecognizedasdeferredincomeareincludedinthecurrentprofitandlossininstallmentsaccordingtotheaveragelifemethodduringtheusefullifeoftherelevantassets.Iftherelevantassetissold,transferred,scrappedordamagedbeforetheendofitsusefullife,theundistributeddeferredincomebalanceshallbetransferredtothecurrentprofitandlossofassetdisposal.
32.DeferredIncomeTaxAssetsandDeferredIncomeTaxLiabilitiesAdeferredtaxassetanddeferredtaxliabilityshallbedeterminedbyadifference(temporarydifference)betweenthecarryingamountofanassetorliabilityanditstaxbase.Thedeferredtaxassetshallberecognizedforthecarryforwardofunuseddeductiblelossesthatitisprobablethatfuturetaxableprofitswillbeavailableagainstwhichthedeductiblelossescanbeutilized.Fortemporarydifferencearisingfrominitialrecognitionofgoodwill,nocorrespondingdeferredincometaxliabilitieswillberecognized.Fortemporarydifferencearisingfrominitialrecognitionofassetsandliabilitiesoccurredinthetransactionrelatedtonon-businesscombinationwhichneitheraffectaccountingprofitnortaxableincome(ordeductiblelosses),nocorrespondingdeferredincometaxassetsanddeferredincometaxliabilitieswillberecognized.Asofthebalancesheetdate,deferredincometaxassetsanddeferredincometaxliabilitiesaremeasuredattheeffectivetaxrateapplicabletotheperiodwhenrecoveryofassetsorsettlementofliabilitiesoccur.TheCompanyrecognizesdeferredincometaxassetstotheextentoffuturetaxableincometaxwhichislikelytobeobtainedtooffsetdeductibletemporarydifference,deductiblelossesandtaxcredits.Fortheconfirmeddeferredincometaxassets.
33.LeaseWhentheCompanybecomesthelesseeoftheleasecontract,hastherighttoobtainalmostalltheeconomicbenefitsarisingfromtheuseoftheidentifiedassetsduringtheperiodofuse,andhastherighttoleadtheuseoftheidentifiedassetsduringtheperiodofuse,thepresentvalueofunpaidleasepaymentsoftheleaseassetsafterdeductingleaseincentives(exceptforshort-termleasesandleasesoflow-valueassetsforwhichsimplifiedtreatmentisselected)isrecognizedasaleaseliability,andaright-of-useassetisrecognizedbasedonthesumofthepresentvalueoftheleaseliability,prepaidrent,andinitialdirectcosts,anddepreciationandinterestexpensesarerecognizedseparately.WhentheCompanybecomesthelesseeofaleasecontract,forshort-termleasesoflessthanoneyearwithoutapurchaseoptionandleaseswithavalueoflessthan40,000yuan(excludingsubleaseorexpectedsubleaseassets),theCompanyelectstofollowsimplifiedtreatmentandrecordtherelatedassetsatcostorcurrentgain/lossonastraight-linebasisovertheleaseperiod.WhentheCompanybecomesthelessorofaleasecontract,itclassifiestheleaseintoanoperatingleaseandafinanceleaseattheleasecommencementdate.Afinanceleaseisaleasethattransferssubstantiallyalltherisksandrewardsassociatedwiththeownershipofanasset.Operatingleasesareleasesotherthanfinanceleases.Rentalsunderoperatingleasesarerecognizedasincomeonastraight-linebasisovertheleaseterm.Financeleasesarerecordedatthenetleaseinvestmentvalueofthefinanceleasereceivable,whichisthesumoftheunguaranteedresidualvalueandthepresentvalueoftheleasereceiptsnotyetreceivedasofthecommencementdateoftheleaseterm.Therearebothleasingandnon-leasingbusinessesinthecontractandcanbesplit,andtheleasingbusinessisfinanciallyaccountedaccordingtotheleasestandards.Therearebothleasingandnon-leasingbusinessesinthecontractandcannotbesplit,andtheentirecontractisincludedintheleasebusinessforfinancialaccountingaccordingtotheleasestandards.Theleasechangeneedstobejudgedwhetheritcanberecognizedasasingleleasingbusiness,anditneedstoberecognizedseparatelyifitmeetstherecognitionconditionsofasinglelease;ifitdoesnotmeettherecognitionofasingleleasingbusiness,orthereisamajoreventorchangewithinthecontrollablerangeofthelessee,re-evaluateandmeasurethepresentvalueofleaseliabilities,andadjustthebookvalueoftheright-of-useassetaccordingly.Ifthebookvalueoftheright-of-useassethasbeenreducedtozero,buttheleaseliabilitystillneedstobefurtherreduced,thelesseeshallincludetheremainingamountinthecorrespondingexpensesforthecurrentperiod.
WhentheCompanybecomesthelessorofaleasecontract,theleaseisdividedintooperatingleaseandfinanceleaseonthestartdateoflease.Afinanceleaseisaleasethattransferssubstantiallyalltherisksandrewardsassociatedwithownershipofanasset.Anoperatingleasereferstoaleaseotherthanfinanceleases.Therentofanoperatingleaseisrecognizedasincomeonastraight-linebasisduringtheleaseterm.Foranfinancelease,thenetinvestmentintheleaseisregardedastheentryvalueofthefinanceleasereceivables,andthenetinvestmentintheleaseisthesumoftheunguaranteedresidualvalueandthepresentvalueoftheleasereceiptsthathavenotbeenreceivedonthestartdateoftheleaseterm.
34.IncometaxaccountingTheCompanyaccountedtheincometaxinamethodofdebitinbalancesheet.Theincometaxexpensesincludeincometaxinthecurrentyearanddeferredincometax.Theincometaxassociatedwiththeeventsandtransactionsdirectlyincludedintheowners’equityshallbeincludedintheowners’equity;andthedeferredincometaxderivedfrombusinesscombinationshallbeincludedinthecarryingamountofgoodwill,exceptforthatabove,theincometaxexpenseshallbeincludedintheprofitorlossinthecurrentperiod.Theincometaxexpenseinthecurrentyearreferstothetaxpayable,whichiscalculatedaccordingtothetaxlawsontheeventsandtransactionsincurredinthecurrentperiod.ThedeferredincometaxreferstothedifferencebetweenthecarryingamountandthedeferredtaxassetsanddeferredtaxliabilitiesatCurrentYear-endrecognizedinthemethodofdebitinthebalancesheet.
35.SegmentinformationBusinesssegmentwasthemajorreportingformoftheCompany,whichdividedintofourparts:air-conditioning,refrigerator&freezer&washingmachine,smallhomeapplianceandothers.Thetransferpriceamongthesegmentswillrecognizebasedonthemarketprice,commoncostswillallocatedbyincomeproportionbetweensegmentsexceptforthepartsthatwithoutreasonableallocation.
36.ExplanationonsignificantaccountingestimationThemanagementoftheCompanyneedstoapplyestimationandassumptionwhenpreparingfinancialstatementwhichwillaffecttheapplicationofaccountingpolicyandamountsofassets,liabilities,incomeandexpense.Theactualconditionmaydifferfromtheestimation.Constantevaluationisconductedbythemanagementinrespectofthekeyassumptioninvolvedinthe
estimationandjudgmentofuncertainties.Effectresultingfromchangeofaccountingestimationisrecognizedintheperiodthechangeoccursandfutureperiods.Thefollowingaccountingestimationandkeyassumptionmayresultinmaterialadjustmenttothebookvalueofassetsandliabilitiesinfutureperiod.
(1)InventoryimpairmentprovisionTheCompany'sprovisionforimpairmentofinventoriesonthebalancesheetdateisthepartofthenetrealizablevaluelowerthanthecostofinventories.Thenetrealizablevalueoftheinventoryofgoodsthataredirectlyusedforsale,suchasthegoodsinstock,thegoodssentout,andthematerialsforsale,andthelow-consumptiongoods,shallbedeterminedbytheamountoftheestimatedsellingpriceoftheinventoryminustheestimatedsellingexpensesandrelevanttaxes.Thenetrealizablevalueofthematerialinventoryheldforproductionisdeterminedbytheamountoftheestimatedsellingpriceofthefinishedproductproducedminustheestimatedcosttobeincurredatthetimeofcompletion,theestimatedsellingexpensesandrelevanttaxes.
(2)Accountingestimationonlong-termassetsimpairmentprovisionTheCompanymakesimpairmenttestonfixedassetssuchasbuildings,machineandequipmentwhichhaveimpairmentindicationandlong-termassetssuchasgoodwillasatthebalancesheetdate.Therecoverableamountofrelevantassetsandassetsgroupshallbethepresentvalueoftheprojectedfuturecashflowwhichshallbecalculatedwithaccountingestimation.Ifthemanagementamendsthegrossprofitmarginanddiscountrateadoptedincalculationoffuturecashflowofassetsandassetsgroupandtheamendedgrossprofitmarginislowerthanthecurrentlyadoptedoneortheamendeddiscountrateishigherthanthecurrentlyadoptedone,theCompanyneedstoincreaseprovisionofimpairmentprovision.Iftheactualgrossprofitmarginishigher(orthediscountrateislower)thantheestimationofmanagement,theCompanycannottransferbackthelongtermassetsimpairmentprovisionprovidedalready.
(3)AccountingestimationonrealizationofdeferredincometaxassetsEstimationondeferredincometaxassetsneedsestimationonthetaxableincomeandapplicabletaxrateforeachfutureyear.Realizationofdeferredincometaxassetsdependsonwhetheracompanyisabletoobtainsufficienttaxableincomeinfuture.Changeoffuturetaxrateandswitchbackoftemporarydifferencecouldaffectthebalanceofincometaxexpense(gains)anddeferredincometax.Changeoftheaforesaidestimationmayresultinmaterialadjustmenttodeferred
incometax.
(4)UsabletermandresidualvaluerateoffixedassetsandintangibleassetsTheCompany,atleastattheendofeachaccountingyear,reviewstheprojectedusablelifeandresidualvaluerateoffixedassetsandintangibleassets.Theprojectedusablelifeandresidualvalueratearedeterminedbythemanagementbasedonthehistoricalexperiencesofsimilarassetsbyreferencetotheestimationgenerallyusedbythesameindustrywithconsiderationonprojectedtechnicalupgrade.Ifmaterialchangeoccurstopreviousestimation,theCompanyshallaccordinglyadjustthedepreciationexpensesandamortizationexpensesforfutureperiod.
37.OthercomprehensiveincomeOthercomprehensiveincomerepresentsvariousgainsandlossesnotrecognizedincurrentgainsandlossesaccordingtootheraccountingrules.Othercomprehensiveincomeitemsshallbereportedinthefollowingtwoclassesunderotherrelevantaccountingrules:
(1)Othercomprehensiveincomeitemsthatcannotbereclassifiedintogainsandlossesinfutureaccountingperiods,mainlyincludingchangesarisingfromre-measurementofnetliabilitiesornetassetsunderdefinedbenefitplanandinterestininvestee’sothercomprehensiveincomewhicharemeasuredunderequitymethodandwhichcannotbereclassifiedintogainsandlossesinfutureaccountingperiods;
(2)Othercomprehensiveincomeitemsthatwillbereclassifiedintogainsandlossesinfutureaccountingperiodsuponsatisfactionofrequiredconditions,mainlyincludestheshareofothercomprehensiveincomethatisreclassifiedintoprofitandlosswhentheinvestee’ssubsequentaccountingperiodsareaccountedforinaccordancewiththeequitymethodandmeetthespecifiedconditions,thefairvaluechangesoccurredbythedebtinvestmentthatismeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,thedifferencebetweentheoriginalbookvalueincludedinothercomprehensiveincomeandthefairvaluewhenafinancialassetmeasuredatamortizedcostisreclassifiedasafinancialassetmeasuredatfairvalueanditschangesareincludedinothercomprehensiveincome,thelossprovisionsforfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,thegainsorlossesgeneratedfromcashflowhedginginstrumentsarepartofeffectivehedging,andthedifferencesinconversionofforeigncurrencyfinancialstatements.
38.Changeofsignificantaccountingpoliciesandaccountingestimates
(1)Changeofsignificantaccountingpolicy:N/A
(2)Changeofsignificantaccountingestimates:N/AIV.Taxation
1.Majortaxesandtaxrates
| Tax(expenses) | Tax(expenses)base | Tax(expenses)rate |
| VAT | Theoutputtaxiscalculatedbasedontheincomefromsalesofgoodsandtaxableservicescalculatedaccordingtotheprovisionsofthetaxlaw.Afterdeductingtheinputtaxallowedtobedeductedinthecurrentperiod,thedifferenceistheVATtaxable | 13%.9%,6%,5%、3% |
| HousePropertyTax | Incaseofadvalorem,itwillbeleviedaccordingto1.2%oftheresidualvalueafterdeducting30%fromtheoriginalvalueoftheproperty;Incaseofrent-basedcollection,itwillbeleviedaccordingto12%oftherentalincome | 1.2%,12% |
| Landusetax | Actuallandareaused | 1-6yuan/㎡ |
| Urbanmaintenanceandconstructiontax | Turnovertax | 7%,5% |
| Educationsurcharge | Turnovertax | 3% |
| Localeducationsurcharge | Turnovertax | 2% |
| Corporateincometax | Taxableincome | 29%,25%,22%,20%,15% |
Descriptionoftaxpayerswithdifferentcorporateincometaxrates:
| Name | Incometaxrate |
| TheCompany | 15.00% |
| ZhongkeMeilingCryogenicTechnologyCo.,Ltd. | 15.00% |
| Name | Incometaxrate |
| ZhongshanChanghongElectricCo.,Ltd. | 15.00% |
| SichuanHongmeiIntelligentTechnologyCo.,Ltd. | 15.00% |
| MianyangMeilingRefrigerationCo.,Ltd. | 15.00% |
| GroundEnergyHeatPumpTech.(Zhongshan)Co.,Ltd | 15.00% |
| HefeiMeilingNonferrousMetalProductsCo.,Ltd. | 15.00% |
| JiangxiMeilingElectricApplianceCo.,Ltd. | 15.00% |
| SichuanChanghongAir-conditionerCo.,Ltd. | 15.00% |
| HefeiMeilingWulianTechnologyCo.,Ltd | 15.00% |
| AnhuiTuoxingTechnologyCo.,Ltd. | 20.00% |
| GuangzhouChanghongTradingCo.,Ltd. | 20.00% |
| HebeiHongmaoDailyApplianceTechnologyCo.,Ltd. | 20.00% |
| CH-MeilingInternational(Philippines)Inc. | 20.00% |
| ChanghongRubaTradingCompany(Private)Limited | 29.00% |
| CHANGHONGMEILINGELECTRICINDONESIA,PT | 22.00% |
| Othertaxpayersexcepttheabove | 25.00% |
2.Preferentialtax
(1)OnNovember30,2023,theCompanypassedthehigh-techenterprisecertificationandobtainedthehigh-techenterprisecertificatenumberedGR2020340006385,andshallenjoythenationalhigh-techenterpriseincometaxrateof15%,whichisvalidforthreeyears.
(2)OnOctober16,2023,thesubsidiaryZhongkeMeilingCryogenicTechnologyCo.,Ltd.obtainedthehigh-techenterprisecertificatenumberedGR202334003036approvedbytheAnhuiProvincialDepartmentofScienceandTechnology,theAnhuiProvincialDepartmentofFinance,andtheAnhuiProvincialTaxationBureauoftheStateAdministrationofTaxation,andshallenjoythe15%enterpriseincometaxrateofthenationalhigh-techenterprise,whichisvalidforthreeyears.
(3)OnDecember28,2023,thesubsidiaryZhongshanChanghongElectricApplianceCo.,Ltd.obtainedahigh-techenterprisecertificatewithacertificatenumberofGR202344012950approvedbytheGuangdongProvincialDepartmentofScienceandTechnology,theGuangdong
ProvincialDepartmentofFinanceandtheGuangdongProvincialTaxationBureauoftheStateAdministrationofTaxation,andshallenjoyanationalenterpriseincometaxrateof15%forhigh-techenterprises,whichisvalidforthreeyears.
(4)OnDecember6,2024,thesubsidiarySichuanHongmeiIntelligentTechnologyCo.,Ltd.obtainedthehigh-techenterprisecertificatewithacertificatenumberofGR202451002000approvedbytheScienceandTechnologyDepartmentofSichuanProvince,theFinanceDepartmentofSichuanProvinceandtheSichuanProvincialTaxService,StateTaxationAdministration,andwasentitledtotheincometaxrateof15%fornationalhigh-techenterprisesforaperiodofthreeyears.
(5)SubsidiaryMianyangMeilingRefrigerationCo.,Ltd.,belongstotheencouragedindustryintheIndustrialStructureAdjustmentGuidanceCatalogandenjoysthepreferentialtaxationpolicyofcorporateincometaxfortheWesternDevelopment,andthecorporateincometaxisleviedatareducedtaxrateof15%,validuntilDecember31,2030.
(6)OnDecember22nd,2022,thesubsidiaryHongyuanGroundEnergyHeatPumpTechnology(Zhongshan)Co.,Ltd.obtainedthehigh-techenterprisecertificatewithacertificatenumberofGR202244005222approvedbytheDepartmentofScienceandTechnologyofGuangdongProvince,DepartmentofFinanceofGuangdongProvinceandGuangdongProvincialTaxService,StateTaxationAdministration,andwasentitledtotheenterpriseincometaxrateof15%fornationalhigh-techenterprisesforaperiodofthreeyears.
(7)OnNovember28,2024,thesubsidiaryHefeiMeilingNonferrousMetalProductsCo.,Ltd.obtainedthehigh-techenterprisecertificatewithacertificatenumberofGR202434004167approvedbyAnhuiProvincialDepartmentofScienceandTechnology,AnhuiProvincialDepartmentofFinanceandAnhuiProvincialTaxationService,StateTaxationAdministration,andwasentitledtotheincometaxrateof15%fornationalhigh-techenterprisesforaperiodofthreeyears.
(8)OnNovember4,2022,thesubsidiaryJiangxiMeilingElectricApplianceCo.,Ltd.obtainedthehigh-techenterprisecertificatewithacertificatenumberofGR202236000475approvedbyScienceandTechnologyDepartmentofJiangxiProvince,JiangxiProvincialDepartmentofFinanceandJiangxiTaxService,StateTaxationAdministration,andwasentitledtotheincometaxrateof15%fornationalhigh-techenterprisesforaperiodofthreeyears.
(9)OnNovember29,2022,thesubsidiarySichuanChanghongAirConditioningCo.,Ltd.
obtainedthehigh-techenterprisecertificatewithacertificatenumberofGR202251005824approvedbyScienceandTechnologyDepartmentofSichuanProvince,SichuanProvincialFinanceDepartmentandStateTaxationAdministration,andwasentitledtotheincometaxrateof15%fornationalhigh-techenterprisesforaperiodofthreeyears.
(10)OnNovember28,2024,thesubsidiaryHefeiMeilingWulianTechnologyCo.,Ltd.obtainedthehigh-techenterprisecertificatewithacertificatenumberofGR202434004986approvedbyAnhuiProvincialDepartmentofScienceandTechnology,AnhuiProvincialDepartmentofFinanceandAnhuiProvincialTaxationService,StateTaxationAdministration,andwasentitledtotheincometaxrateof15%fornationalhigh-techenterprisesforaperiodofthreeyears.
(11)AccordingtotheAnnouncementoftheMinistryofFinanceandtheStateTaxationAdministrationonFurtherSupportingtheDevelopmentofTaxandFeePoliciesforSmallandMicroEnterprisesandIndividualIndustrialandCommercialHouseholds(AnnouncementNo.12oftheMinistryofFinanceandtheStateTaxationAdministrationin2023),"Thetaxableincomeofsmallandlow-profitenterpriseswillbereducedby25%,andtheenterpriseincometaxpolicywillbepaidatarateof20%,whichwillbeimplementeduntilDecember31,2027".ThesubsidiariesAnhuiTuoxingTechnologyCo.,Ltd.,GuangzhouChanghongTradingCo.,Ltd.andHebeiHongmaoHouseholdApplianceTechnologyCo.,Ltd.appliedtheabovepreferentialpoliciesthisyear.
2.VAT
(1)AccordingtotheAnnouncementoftheMinistryofFinanceandtheStateTaxationAdministrationonthePolicyofAddingandDeductingVATforAdvancedManufacturingEnterprises(AnnouncementNo.43oftheMinistryofFinanceandtheStateTaxationAdministrationin2023),additionalVATpayableof5%willbedeductedaccordingtothedeductibleinputtaxinthecurrentperiodforadvancedmanufacturingenterprisesfromJanuary1,2023toDecember31,2027.TheCompanyanditssubsidiariesZhongkeMeilingCryogenicsTechnologyCo.,Ltd.,ZhongshanChanghongElectricCo.,Ltd.,GroundEnergyHeatPumpTech.(Zhongshan)Co.,Ltd.,HefeiMeilingNon-ferrousMetalProductsCo.,Ltd.,JiangxiMeilingElectricApplianceCo.,Ltd.andSichuanChanghongAirConditioningCo.,Ltd.appliedtheabove
preferentialpolicies.
(2)AccordingtotheNoticeoftheMinistryofFinanceandtheStateTaxationAdministrationontheVATPolicyofSoftwareProducts(CS[2011]No.100),forsalesbygeneralVATtaxpayersofthesoftwareproductsdevelopedandproducedbythemselves,aftertheVATisleviedattherateof13%,thepartwhoseactualVATtaxexceeds3%willberefundedimmediately.ThesubsidiariesZhongkeMeilingCryogenicsTechnologyCo.,Ltd.andSichuanHongmeiIntelligentTechnologyCo.,Ltd.appliedtheabovepreferentialpolicies.V.Notestothemajoritemsintheconsolidatedfinancialstatements
(1)Consolidatedbalancesheetitemnotes
1.Monetaryfund
| Item | Endingbalance | Beginningbalance |
| Cash | 23,466.68 | 19,623.13 |
| Bankdeposit | 4,269,948,407.17 | 5,430,927,146.17 |
| Othermonetaryfund | 708,898,229.24 | 492,614,908.35 |
| Interestreceivableondeposit | 4,502,108,966.70 | 4,568,889,072.96 |
| Total | 9,480,979,069.79 | 10,492,450,750.61 |
| Including:totalamountdepositedinoverseas | 45,564,166.58 | 39,440,542.18 |
2.Tradablefinancialassets
| Item | EndingBalance | BeginningBalance |
| Financialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentgains/losses | 2,136,929,526.59 | |
| Including：Principalandinterestofstructureddeposits | 2,136,929,526.59 | |
| Total | 2,136,929,526.59 |
3.Derivativefinancialassets
| Item | EndingBalance | BeginningBalance |
| Item | EndingBalance | BeginningBalance |
| forwardexchangecontract | 44,278,588.05 | 72,010,074.43 |
| Total | 44,278,588.05 | 72,010,074.43 |
4.Accountreceivable
(1)Categoryofaccountreceivablebyaging
| Accountage | EndingBalance | BeginningBalance |
| Within1year（Including1year） | 3,564,643,143.09 | 1,497,253,392.98 |
| Including：Within3months | 3,228,253,882.80 | 1,368,463,315.70 |
| 3-6months | 271,204,414.23 | 97,181,265.60 |
| 6months–1year | 65,184,846.06 | 31,608,811.68 |
| 1-2years | 68,854,146.67 | 75,307,523.19 |
| 2-3years | 54,286,465.24 | 87,182,259.34 |
| Over3years | 207,260,293.47 | 188,612,629.93 |
| Total | 3,895,044,048.47 | 1,848,355,805.44 |
(2)Categoryofaccountreceivablebybaddebtaccrual
1)Detail
| Category | Amountatyear-end | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Accountreceivablethatwithdrawalbaddebtprovisionbysingleitem | 1,211,199,965.22 | 31.10 | 207,910,230.23 | 17.17 | 1,003,289,734.99 |
| Including：Accountreceivablewithletterofcredit | 183,910,670.92 | 4.72 | 183,910,670.92 | ||
| Currentpaymentwithrelatedparty | 980,050,871.59 | 25.16 | 160,671,807.52 | 16.39 | 819,379,064.07 |
| Receivableswhosesingleamountisnotsignificantbutwhosesingleprovisionforbad | 47,238,422.71 | 1.22 | 47,238,422.71 | 100.00 | |
| Category | Amountatyear-end | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| debts | |||||
| Accountreceivablewithdrawalbaddebtprovisionbyportfolio | 2,683,844,083.25 | 68.90 | 180,486,726.05 | 6.72 | 2,503,357,357.20 |
| Including:accountreceivableofengineeringcustomers | 180,053,513.06 | 4.62 | 55,655,202.75 | 30.91 | 124,398,310.31 |
| Receivablesotherthanengineeringcustomer | 2,503,790,570.19 | 64.28 | 124,831,523.30 | 4.99 | 2,378,959,046.89 |
| Total | 3,895,044,048.47 | 100.00 | 388,396,956.28 | 9.97 | 3,506,647,092.19 |
（Continued）
| Category | Amountatyear-begin | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Accountreceivablethatwithdrawalbaddebtprovisionbysingleitem | 736,905,399.87 | 39.87 | 174,360,359.87 | 23.66 | 562,545,040.00 |
| Including：Accountreceivablewithletterofcredit | 204,543,428.36 | 11.07 | 204,543,428.36 | ||
| Currentpaymentwithrelatedparty | 485,828,526.67 | 26.28 | 129,934,772.07 | 26.74 | 355,893,754.60 |
| Receivableswhosesingleamountisnotsignificantbutwhosesingleprovisionforbaddebts | 46,533,444.84 | 2.52 | 44,425,587.80 | 95.47 | 2,107,857.04 |
| Accountreceivablewithdrawalbaddebtprovisionbyportfolio | 1,111,450,405.57 | 60.13 | 146,017,071.09 | 13.14 | 965,433,334.48 |
| Including:accountreceivableofengineeringcustomers | 185,634,242.24 | 10.04 | 54,756,852.90 | 29.50 | 130,877,389.34 |
| Receivablesotherthanengineeringcustomer | 925,816,163.33 | 50.09 | 91,260,218.19 | 9.86 | 834,555,945.14 |
| Total | 1,848,355,805.44 | 100.00 | 320,377,430.96 | 17.33 | 1,527,978,374.48 |
2)AccountreceivablethatwithdrawalbaddebtprovisionbysingleitemAccountreceivablewithsingleminoramountbutwithdrawalbaddebtprovisionsingly,referstotheminorsinglereceivables,andwithdrawalbaddebtprovisionbycombinationshowsnoriskcharacteristicofthereceivables,89clientsinvolved.
3)Accountreceivablewithdrawalbaddebtprovisionbyportfolio
A.Accountreceivableofengineeringcustomers
| Accountage | Endingbalance | ||
| Bookbalance | Baddebtprovision | Provisionratio(%) | |
| Within3months(3monthsincluded) | 30,324,266.41 | ||
| 3-6months | 3,467,601.71 | ||
| 6months-1year | 29,099,305.06 | ||
| 1-2years | 63,716,889.63 | 12,743,377.93 | 20.00 |
| 2-3years | 21,067,250.86 | 10,533,625.43 | 50.00 |
| Over3years | 32,378,199.39 | 32,378,199.39 | 100.00 |
| Subtotal | 180,053,513.06 | 55,655,202.75 | 30.91 |
（Continued）
| Accountage | Beginningbalance | ||
| Bookbalance | Baddebtprovision | Provisionratio(%) | |
| Within3months(3monthsincluded) | 25,327,660.33 | ||
| 3-6months | 14,901,434.29 | ||
| 6months-1year | 28,923,666.97 | ||
| 1-2years | 56,974,354.61 | 11,394,870.93 | 20.00 |
| 2-3years | 32,290,288.15 | 16,145,144.08 | 50.00 |
| Over3years | 27,216,837.89 | 27,216,837.89 | 100.00 |
| Subtotal | 185,634,242.24 | 54,756,852.90 | 29.50 |
B.Receivablesotherthanengineeringcustomers
| Accountage | Endingbalance | ||
| Bookbalance | Baddebtprovision | Provisionratio(%) | |
| Within3months(3monthsincluded) | 2,202,874,594.00 | 22,028,745.94 | 1.00 |
| 3-6months | 200,646,356.95 | 20,064,635.70 | 10.00 |
| 6months-1year | 19,904,456.20 | 3,980,891.24 | 20.00 |
| 1-2years | 3,101,972.59 | 1,550,986.30 | 50.00 |
| 2-3years | 284,631.66 | 227,705.33 | 80.00 |
| Over3years | 76,978,558.79 | 76,978,558.79 | 100.00 |
| Subtotal | 2,503,790,570.19 | 124,831,523.30 | 4.99 |
（Continued）
| Accountage | Beginningbalance | ||
| Bookbalance | Baddebtprovision | Provisionratio(%) | |
| Within3months(3monthsincluded) | 832,210,142.16 | 8,322,101.42 | 1.00 |
| 3-6months | 8,867,933.33 | 886,793.33 | 10.00 |
| 6months-1year | 2,545,036.25 | 509,007.25 | 20.00 |
| 1-2years | 1,083,159.99 | 541,580.00 | 50.00 |
| 2-3years | 545,777.06 | 436,621.65 | 80.00 |
| Over3years | 80,564,114.54 | 80,564,114.54 | 100.00 |
| Subtotal | 925,816,163.33 | 91,260,218.19 | 9.86 |
C.Baddebtprovisionofaccountsreceivable
1)Detail
| Category | Beginningbalance | Changesthisyear | EndingBalance | |||
| Accrual | Withdrawalorreversal | Resaleorwrite-off | Otherdecreases | |||
| Category | Beginningbalance | Changesthisyear | EndingBalance | |||
| Accrual | Withdrawalorreversal | Resaleorwrite-off | Otherdecreases | |||
| Withdrawalbaddebtprovisionbysingleitem | 174,360,359.87 | 43,104,716.93 | 9,898,942.17 | 344,095.60 | 207,910,230.23 | |
| Withdrawalbaddebtprovisionbyportfolio | 146,017,071.09 | 34,461,468.20 | 8,186.76 | 180,486,726.05 | ||
| Total | 320,377,430.96 | 77,566,185.13 | 9,898,942.17 | 352,282.36 | 388,396,956.28 | |
2)Provisionforbaddebtsofaccountsreceivableactuallyrecoveredorreversedinthecurrentperiod
None
(4)Accountreceivableactuallywritten-offinCurrentYear
None
(5)Top5accountsreceivableandcontractassetsamountTop5receivablescollectedbyarrearspartyamountingto1,645,880,093.00yuanintotal,accountedfor42.09%ofthereceivablesofcurrentyear-end,thebaddebtprovisionaccrualcorrespondinglyamountingto110,254,924.82yuanatyear-endbalance
5.Receivablesfinancing
（1）Detail
| Item | Endingbalance | Beginningbalance |
| Bankacceptance | 939,704,220.30 | 1,482,928,143.55 |
| Financialcompanyacceptancebill | 25,470,638.55 | 34,059,810.28 |
| Total | 965,174,858.85 | 1,516,987,953.83 |
(2)Byaccrualofbaddebtprovision
| Category | Endingbalance | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Withdrawalbaddebtprovisionbysingleitem | 965,174,858.85 | 100.00 | 965,174,858.85 | ||
| Including：Bankacceptance | 939,704,220.30 | 97.36 | 939,704,220.30 | ||
| Financialcompanyacceptancebill | 25,470,638.55 | 2.64 | 25,470,638.55 | ||
| Total | 965,174,858.85 | 100.00 | 965,174,858.85 | ||
（Continued
| Category | Beginningbalance | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Withdrawalbaddebtprovisionbysingleitem | 1,516,987,953.83 | 100.00 | 1,516,987,953.83 | ||
| Including：Bankacceptance | 1,482,928,143.55 | 97.75 | 1,482,928,143.55 | ||
| Financialcompanyacceptancebill | 34,059,810.28 | 2.25 | 34,059,810.28 | ||
| Total | 1,516,987,953.83 | 100.00 | 1,516,987,953.83 | ||
(3)Changesincreditimpairmentprovisions
Thereisnobaddebtprovisionaccrued,recoveredorreversedthisyear.
(4)Financingofreceivablesthathavebeenpledgedattheendoftheyear
| Item | Period-endpledgedamount |
| Bankacceptance | 386,358,345.21 |
| Subtotal | 386,358,345.21 |
Note:withpurposeofimprovingthenoteutilization,theCompanydrawupbankacceptancebypledgepartsoftheoutstandingnotesreceivabletothebank.Fordetailsofthepledgeofbillsreceivable,seeNoteV(1).25.Assetswithrestrictedownershiporuserights.
(5)Notesendorsementordiscountandundueonbalancesheetdatelistedinreceivablesfinancingattheendoftheperiod
| Item | Amountderecognitionatperiod-end |
| Bankacceptance | 887,317,977.38 |
| Financialcompanyacceptancebill | 28,651,396.62 |
| Subtotal | 915,969,374.00 |
6.Accountspaidinadvance
(1)Ageofaccountpaidinadvance
| Item | Endingbalance | |||
| Amount | Ratio(%) | Provisionforimpairment | Bookvalue | |
| Within1months(1monthsincluded) | 63,623,238.10 | 99.16 | 63,623,238.10 | |
| 1-2years | 272,630.15 | 0.42 | 272,630.15 | |
| 2-3years | 157,845.76 | 0.25 | 157,845.76 | |
| Over3years | 106,482.62 | 0.17 | 106,482.62 | |
| Total | 64,160,196.63 | 100.00 | 64,160,196.63 | |
(Continued)
| Accountage | Balanceatyear-begin | |||
| Bookbalance | Baddebtprovision | Provisionratio(%) | Bookvalue | |
| Within1months(1monthsincluded) | 59,929,582.83 | 99.30 | 59,929,582.83 | |
| 1-2years | 266,216.81 | 0.44 | 266,216.81 | |
| 2-3years | 47,912.63 | 0.08 | 47,912.63 | |
| Over3years | 108,633.00 | 0.18 | 108,633.00 | |
| Total | 60,352,345.27 | 100.00 | 60,352,345.27 | |
(2)Top5ofaccountpaidinadvanceinbalanceatyear-endamountingto53,436,424.96yuan,accountedfor83.29%oftheaccount.
7.Otheraccountreceivable
(1)Detail
| Item | Balanceatyear-end | Balanceatyear-begin |
| Dividendreceivable | 12,124,951.70 | |
| Otheraccountreceivable | 55,585,833.84 | 123,266,319.09 |
| Total | 55,585,833.84 | 135,391,270.79 |
(2)Dividendreceivable
| Item | Balanceatyear-end | Balanceatyear-begin |
| SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | 11,849,751.70 | |
| SichuanHongyunNewGenerationInformationTechnologyVentureCapitalFundPartnershipEnterprise(LimitedPartnership | 275,200.00 | |
| Subtotal | 12,124,951.70 |
(3)Otherreceivable
1)Categoryofotheraccountreceivable
| Nature | Balanceatyear-end | Balanceatyear-begin |
| Exportrebate | 25,228,313.98 | 95,274,068.20 |
| Cashdeposit | 13,642,743.06 | 11,343,322.56 |
| Loansofemployee’sprettycash | 18,877,349.19 | 15,452,988.04 |
| Relatedpartynotinconsolidationstatement | 739,461.48 | 3,020,490.22 |
| Other | 615,247.62 | 1,327,326.50 |
| Subtotal | 59,103,115.33 | 126,418,195.52 |
(2)Byaccountage
| Accountage | Endingbalance | Beginningbalance |
| Within3months | 39,969,753.45 | 112,225,289.22 |
| 3-6months | 3,073,710.28 | 787,433.33 |
| 6months-1year | 3,399,400.51 | 3,137,720.39 |
| 1-2years | 4,084,826.02 | 2,433,214.96 |
| Accountage | Endingbalance | Beginningbalance |
| 2-3years | 1,671,347.00 | 2,216,446.08 |
| Over3years | 6,904,078.07 | 5,618,091.54 |
| Subtotal | 59,103,115.33 | 126,418,195.52 |
3)Byaccrualofbaddebtprovision
| Category | Amountatyear-end | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Thatwithdrawalbaddebtprovisionbysingleitem | 58,844,476.98 | 99.56 | 3,420,646.86 | 5.81 | 55,423,830.12 |
| Inwhich:otherreceivableswithnomajorindividualamountbutbaddebtprovisionaccruedindividually | 32,876,701.52 | 55.63 | 3,420,646.86 | 10.40 | 29,456,054.66 |
| Exportrebate | 25,228,313.98 | 42.68 | 25,228,313.98 | ||
| Relatedpartyfunds | 739,461.48 | 1.25 | 739,461.48 | ||
| Baddebtprovisionaccruedbyportfolio | 258,638.35 | 0.44 | 96,634.63 | 37.36 | 162,003.72 |
| Inwhich:otherreceivablesaccruedbyagingportfolio | 258,638.35 | 0.44 | 96,634.63 | 37.36 | 162,003.72 |
| Total | 59,103,115.33 | 100.00 | 3,517,281.49 | 5.95 | 55,585,833.84 |
（Continued）
| Category | Beginningbalance | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Thatwithdrawalbaddebtprovisionbysingleitem | 126,192,156.34 | 99.82 | 3,057,306.45 | 2.42 | 123,134,849.89 |
| Category | Beginningbalance | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Inwhich:otherreceivableswithnomajorindividualamountbutbaddebtprovisionaccruedindividually | 27,897,597.92 | 22.07 | 3,057,306.45 | 10.96 | 24,840,291.47 |
| Exportrebate | 95,274,068.20 | 75.36 | 95,274,068.20 | ||
| Relatedpartyfunds | 3,020,490.22 | 2.39 | 3,020,490.22 | ||
| Baddebtprovisionaccruedbyportfolio | 226,039.18 | 0.18 | 94,569.98 | 41.84 | 131,469.20 |
| Inwhich:otherreceivablesaccruedbyagingportfolio | 226,039.18 | 0.18 | 94,569.98 | 41.84 | 131,469.20 |
| Total | 126,418,195.52 | 100.00 | 3,151,876.43 | 2.49 | 123,266,319.09 |
4)Changesinbaddebtprovisions
①Detail
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Subtotal |
| Expectedcreditlossinnext12months | Expectedcreditlossforthewholeduration(nocreditimpairment) | Expectedcreditlossforthewholeduration(creditimpairmenthasoccurred) | ||
| Balanceatyear-begin | 5,931.27 | 22,405.08 | 3,123,540.08 | 3,151,876.43 |
| Balanceatyear-begininCurrentYear | —— | —— | —— | |
| --Transfertothesecondstage | ||||
| --Transfertothethirdstage | ||||
| --Reversaltothesecondstage |
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Subtotal |
| Expectedcreditlossinnext12months | Expectedcreditlossforthewholeduration(nocreditimpairment) | Expectedcreditlossforthewholeduration(creditimpairmenthasoccurred) | ||
| --Reversaltothefirststage | ||||
| ProvisioninCurrentYear | 5,232.65 | -3,722.65 | 363,340.41 | 364,850.41 |
| ReversalinCurrentYear | ||||
| WriteoffinCurrentYear | ||||
| Otherchange | 554.65 | 554.65 | ||
| Balanceatyear-end | 11,718.57 | 18,682.43 | 3,486,880.49 | 3,517,281.49 |
②Baddebtprovisionforotherreceivablesaccrued,recoveredorreversedinthecurrentperiod
| Category | Beginningbalance | Amountofchangethisperiod | Endingbalance | |||
| Accrual | Recoveryorreversal | Write-offorcancellation | Other | |||
| Withdrawalbaddebtprovisionbysingleitem | 3,057,306.45 | 363,265.42 | 3,420,571.87 | |||
| Withdrawalbaddebtprovisionbyportfolio | 94,569.98 | 1,584.99 | 554.65 | 96,709.62 | ||
| Total | 3,151,876.43 | 364,850.41 | 554.65 | 3,517,281.49 | ||
5)Otheraccountreceivableactuallywritten-offinCurrentYear:
None
6)Top5otherreceivablescollectedbyarrearspartyatbalanceofperiod-end
| Name | Nature | Endingbalance | Accountage | Proportionintotalotherreceivablesendingbalance(%) | BaddebtprovisionEndingbalance |
| UnitI | Exportrebate | 24,659,484.61 | Within3months | 41.72 |
| Name | Nature | Endingbalance | Accountage | Proportionintotalotherreceivablesendingbalance(%) | BaddebtprovisionEndingbalance |
| UnitII | Cashdeposit | 2,642,725.12 | Within3months,1-2years | 4.47 | |
| UnitIII | Loansofemployee’sprettycash | 1,551,548.25 | Within3moths | 2.63 | |
| UnitIV | Loansofemployee’sprettycash | 1,467,720.00 | 3months-1year | 2.48 | |
| UnitV | Loansofemployee’sprettycash | 1,406,898.84 | 3months,3-6moths,1-2years | 2.38 | |
| Total | 31,728,376.82 | 53.68 |
8.Inventories
(1)Detail
| Item | EndingAmount | ||
| Bookbalance | Inventorypricedeclineprovision/contractperformancecostimpairmentprovision | Bookvalue | |
| Rawmaterials | 272,752,907.26 | 5,466,918.51 | 267,285,988.75 |
| Lowvalueconsumablearticles | 587,349.65 | 81,096.62 | 506,253.03 |
| Deferredexpenseformould | 111,806,400.87 | 111,806,400.87 | |
| Stockcommodities | 1,614,060,803.61 | 106,726,572.31 | 1,507,334,231.30 |
| Goodsintransit | 2,042,462,238.98 | 22,639,021.69 | 2,019,823,217.29 |
| Goods-in-process | 15,234,407.57 | 15,234,407.57 | |
| Contractperformancecost | 8,253,641.07 | 4,108.38 | 8,249,532.69 |
| Total | 4,065,157,749.01 | 134,917,717.51 | 3,930,240,031.50 |
(Continued)
| Item | Beginningamount | ||
| Bookbalance | Inventorypricedeclineprovision/contractperformancecostimpairmentprovision | Bookvalue | |
| Rawmaterials | 212,959,918.52 | 5,083,192.31 | 207,876,726.21 |
| Lowvalueconsumablearticles | 266,404.78 | 97,317.58 | 169,087.20 |
| Deferredexpenseformould | 90,498,578.88 | 90,498,578.88 | |
| Stockcommodities | 2,140,311,193.05 | 101,125,135.79 | 2,039,186,057.26 |
| Goodsintransit | 1,144,852,004.99 | 9,982,021.26 | 1,134,869,983.73 |
| Goods-in-process | 10,482,237.67 | 39,214.30 | 10,443,023.37 |
| Contractperformancecost | 31,928,661.07 | 4,108.38 | 31,924,552.69 |
| Total | 3,631,298,998.96 | 116,330,989.62 | 3,514,968,009.34 |
(2)Provisionforinventorydepreciationandcontractperformancecostimpairmentprovision
1)Detail
| Item | Amountatperiod-begin | Increasethisperiod | Decreasethisperiod | Amountatperiod-end | ||
| Accrual | Other | Reversalorreselling | Other | |||
| Rawmaterials | 5,083,192.31 | 2,234,176.37 | 1,850,450.17 | 5,466,918.51 | ||
| Lowvalueconsumablearticles | 97,317.58 | 304.67 | 16,525.63 | 81,096.62 | ||
| Stockcommodities | 101,125,135.79 | 43,914,019.15 | 38,309,478.45 | 3,104.18 | 106,726,572.31 | |
| Goodsintransit | 9,982,021.26 | 19,850,436.50 | 7,193,436.07 | 22,639,021.69 | ||
| Goods-in-process | 39,214.30 | 39,214.30 | ||||
| Item | Amountatperiod-begin | Increasethisperiod | Decreasethisperiod | Amountatperiod-end | ||
| Accrual | Other | Reversalorreselling | Other | |||
| Contractperformancecost | 4,108.38 | 4,108.38 | ||||
| Total | 116,330,989.62 | 65,998,936.69 | 47,409,104.62 | 3,104.18 | 134,917,717.51 | |
2)Accrualforinventoryfallingpricereserves
| Item | Specificbasisfordeterminingofnetrealizablevalue | ReasonsforthereversalorresellinginCurrentYear |
| Rawmaterials | Costishigherthannetrealizablevalue(Theprocessedproductsaredecline) | Forproduction |
| Stockcommodities | Costishigherthannetrealizablevalue(Themarketpriceatperiod-endfell) | Forsale |
| Goodsintransit | Costishigherthannetrealizablevalue(Themarketpriceatperiod-endfell) | Forsale |
| Lowvalueconsumablearticles | Costishigherthannetrealizablevalue | Alreadyused |
| Contractperformancecost | EngineeringconstructionCostishigherthannetrealizablevalue(Theprocessedproductsaredecline) | Alreadyused |
9.Contractassets
(1)Detail
| Item | Endingbalance | ||
| Bookbalance | Impairmentprovision | Bookvalue | |
| Warranty | 1,778,013.37 | 461,708.05 | 1,316,305.32 |
| Total | 1,778,013.37 | 461,708.05 | 1,316,305.32 |
(Continued)
| Item | Beginningbalance | ||
| Bookbalance | Impairmentprovision | Bookvalue | |
| Warranty | 3,226,503.19 | 462,636.22 | 2,763,866.97 |
| Total | 3,226,503.19 | 462,636.22 | 2,763,866.97 |
(2)Amountandreasonsforsignificantchangesinbookvalueduringtheyear
| Items | Changeamount | Changecause |
| Warranty | -1,447,561.65 | Thequalityguaranteeisdueandthecontractassetsarereclassifiedasreceivables |
| Subtotal | -1,447,561.65 |
(3)ProvisionforimpairmentofcontractassetinthePeriod
| Category | Balanceatyear-end | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Withdrawalbaddebtprovisionbysingle | 1,778,013.37 | 100.00 | 461,708.05 | 25.97 | 1,316,305.32 |
| Total | 1,778,013.37 | 100.00 | 461,708.05 | 25.97 | 1,316,305.32 |
(Continued)
| Category | Amountatyear-begin | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Withdrawalbaddebtprovisionbysingle | 3,226,503.19 | 100.00 | 462,636.22 | 14.34 | 2,763,866.97 |
| Total | 3,226,503.19 | 100.00 | 462,636.22 | 14.34 | 2,763,866.97 |
(4)Changesinbaddebtprovisions
| Item | Amountatyear-begin | Amountofchangethisyear | Year-end |
| Accrual | Recoveryorreversal | Write-offorcancellation | Other | |||
| Withdrawalbaddebtprovisionbysingle | 462,636.22 | 928.17 | 461,708.05 | |||
| Total | 462,636.22 | 928.17 | 461,708.05 |
10.Non-currentassetscomingduewithinoneyear
(1)Detail
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Creditor'srightinvestmentduewithinoneyear | 494,428,966.50 | 494,428,966.50 | 53,831,301.37 | 53,831,301.37 | ||
| Warrantymoneyduewithinoneyear | 5,034,918.72 | 60,000.00 | 4,974,918.72 | 6,531,620.47 | 120,000.00 | 6,411,620.47 |
| Total | 499,463,885.22 | 60,000.00 | 499,403,885.22 | 60,362,921.84 | 120,000.00 | 60,242,921.84 |
(2)Creditor'srightinvestmentduewithinoneyear
| Name | Balanceatyear-end | Balanceatyear-begin | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| largedepositcertificates | 494,428,966.50 | 494,428,966.50 | 53,831,301.37 | 53,831,301.37 | ||
| Total | 494,428,966.50 | 494,428,966.50 | 53,831,301.37 | 53,831,301.37 | ||
(3)Creditor'srightinvestmentduewithin1yearattheendoftheyear
| Item | Facevalue | Interestrate | Dateofexpiring | Actualrate | Overdueprincipal | ||
| Closingbalance | InitBalanceatyear-begin | Balanceatyear-end | Beginningbalance | ||||
| largedepositcertificates | 80,000,000.00 | 3.35% | 2026/3/28 | 3.35% | 3.35% | ||
11.Othercurrentasset
| Item | Balanceatyear-end | Balanceatyear-begin | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| VATtobededucted | 2,186,737.17 | 2,186,737.17 | 6,591,963.44 | 6,591,963.44 | ||
| Advancepaymentofincometax | 35,978,547.13 | 35,978,547.13 | 38,375,210.13 | 38,375,210.13 | ||
| VATtobededucted | 163,363,527.05 | 163,363,527.05 | 199,284,116.97 | 199,284,116.97 | ||
| Heldtomaturityfixeddeposits | 302,602,361.11 | 302,602,361.11 | 253,112,899.55 | 253,112,899.55 | ||
| Heldtomaturitylargedepositcertificates | 156,945,681.13 | 156,945,681.13 | 54,770,499.43 | 54,770,499.43 | ||
| LocalsalestaxinPakistan | 763,825.18 | 763,825.18 | 689,887.41 | 689,887.41 | ||
| .Amortizationexpense | 6,597,378.34 | 6,597,378.34 | 9,205,786.05 | 9,205,786.05 | ||
| Total | 668,438,057.11 | 668,438,057.11 | 562,030,362.98 | 562,030,362.98 | ||
12.Creditors'rightinvestment
(1)Detail
| Item | Balanceatyear-end | ||
| Bookbalance | Impairmentprovision | Bookvalue | |
| Item | Balanceatyear-end | ||
| Bookbalance | Impairmentprovision | Bookvalue | |
| largedepositcertificates | 1,578,030,312.23 | 1,578,030,312.23 | |
| Total | 1,578,030,312.23 | 1,578,030,312.23 | |
（Continued）
| Item | Balanceatyear-begin | ||
| Bookbalance | Impairmentprovision | Bookvalue | |
| largedepositcertificates | 1,474,153,793.17 | 1,474,153,793.17 | |
| Total | 1,474,153,793.17 | 1,474,153,793.17 | |
(2)Otherimportantcreditor'srightinvestment
| Item | Balanceatyear-end | ||||
| Facevalue | Interestrate | Actualrate | Dateofexpiring | Overdueprincipal | |
| largedepositcertificates | 100,000,000.00 | 2.60 | 2.60 | 2027-6-21 | |
| largedepositcertificates | 150,000,000.00 | 3.15 | 3.15 | 2027-5-16 | |
| Fixedcertificates | 250,000,000.00 | 3.05 | 3.05 | 2027-5-24 | |
| Fixedcertificates | 150,000,000.00 | 2.70 | 2.70 | 2026-8-7 | |
| Subtotal | 650,000,000.00 | ||||
（Continued）
| Item | Balanceatyear-begin | ||||
| Facevalue | Interestrate | Actualrate | Dateofexpiring | Overdueprincipal | |
| largedepositcertificates | 150,000,000.00 | 3.15 | 3.15 | 2027-5-16 | |
| largedepositcertificates | 100,000,000.00 | 2.60 | 2.60 | 2027-6-21 | |
| Item | Balanceatyear-begin | ||||
| Facevalue | Interestrate | Actualrate | Dateofexpiring | Overdueprincipal | |
| largedepositcertificates | 80,000,000.00 | 3.35 | 3.35 | 2026-3-28 | |
| Fixedcertificates | 250,000,000.00 | 3.05 | 3.05 | 2027-5-24 | |
| Fixedcertificates | 150,000,000.00 | 2.70 | 2.70 | 2026-8-7 | |
| Subtotal | 730,000,000.00 | ||||
13.Long-termequityinvestment
(1)Classificationsituation
| Item | Balanceatyear-end | ||
| Bookbalance | Impairmentprovision | Bookvalue | |
| Associatedcompanies | 87,812,658.90 | 3,097,405.00 | 84,715,253.90 |
| Total | 87,812,658.90 | 3,097,405.00 | 84,715,253.90 |
（Continued）
| Item | Balanceatyear-begin | ||
| Bookbalance | Impairmentprovision | Bookvalue | |
| Associatedcompanies | 84,608,551.82 | 3,097,405.00 | 81,511,146.82 |
| Total | 84,608,551.82 | 3,097,405.00 | 81,511,146.82 |
(2)Detail
| Investedenterprise | Balanceatyear-begin | ChangesinCurrentYear | ||||
| Bookvalue | Impairmentprovision | Additionalinvestment | Disinvestment | Investmentprofitandlossconfirmedbyequitymethod | Othercomprehensiveincomeadjustment | |
| SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | 60,175,669.07 | 4,835,600.70 | ||||
| HefeiXingmeiAssetsManagementCo.,Ltd. | 14,164,491.99 | 1,488.35 | ||||
| Investedenterprise | Balanceatyear-begin | ChangesinCurrentYear | ||||
| Bookvalue | Impairmentprovision | Additionalinvestment | Disinvestment | Investmentprofitandlossconfirmedbyequitymethod | Othercomprehensiveincomeadjustment | |
| ChengduGuiguEnvironmentalTech.Co.,Ltd | 4,495,425.39 | 3,008,655.00 | -921,828.43 | |||
| SichuanTianyouGuiguTechnologyCo.,Ltd | 2,675,560.37 | 88,750.00 | -36,362.59 | |||
| ChanghongRubaElectricCompany(Private)Ltd. | ||||||
| HefeiXinmeiSolarEnergyTechnologyCo.,Ltd.note | ||||||
| Total | 81,511,146.82 | 3,097,405.00 | 3,878,898.03 | |||
（Continued）
| Investedenterprise | ChangesinCurrentperiod | Endingbalance | ||||
| Otherchangesofequity | Declarationofcashdividendsorprofits | Provisionforimpairment | Other | Bookvalue | Impairmentprovision | |
| SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | 674,790.95 | 64,336,478.82 | ||||
| HefeiXingmeiAssetsManagementCo.,Ltd. | 14,165,980.34 | |||||
| ChengduGuiguEnvironmentalTech.Co.,Ltd | 3,573,596.96 | 3,008,655.00 | ||||
| SichuanTianyouGuiguTechnologyCo.,Ltd | 2,639,197.78 | 88,750.00 | ||||
| ChanghongRubaElectricCompany(Private)Ltd. | ||||||
| HefeiXinmeiSolarEnergyTechnologyCo.,Ltd.note | ||||||
| Total | 674,790.95 | 84,715,253.90 | 3,097,405.00 | |||
14.Othernon-currentfinancialassets
| Item | Endingbalance | Beginningbalance |
| SichuanChanghongGroupFinanceCo.,Ltd. | 556,681,286.83 | 556,681,286.83 |
| SichuanHongyunNew-GenerationInformationtechnologyVentureCapitalFundPartnership(limitedpartnership) | 28,908,227.25 | 30,929,099.25 |
| ChanghongGroupSichuanShenwanHongyuanStrategicNewIndustrialParentFundPartnership(limitedpartnership) | 69,913,918.36 | 69,913,918.36 |
| HuishangBankCo.,Ltd. | 18,570,000.00 | 18,570,000.00 |
| Total | 674,073,432.44 | 676,094,304.44 |
15.Investmentrealestate
(1)Detail
| Item | Houseandbuildings | Total |
| Originalbookvalue | ||
| Beginningbalance | 97,362,612.42 | 97,362,612.42 |
| Increaseinthisyear | ||
| Decreaseinthisyear | ||
| Endingbalance | 97,362,612.42 | 97,362,612.42 |
| Accumulateddepreciationandaccumulatedamortization | ||
| Beginningbalance | 30,641,761.73 | 30,641,761.73 |
| Increaseinthisyear | 1,562,045.86 | 1,562,045.86 |
| （1）Withdrawaloramortization | 1,562,045.86 | 1,562,045.86 |
| Decreaseinthisyear | ||
| Endingbalance | 32,203,807.59 | 32,203,807.59 |
| Bookvalue | ||
| .Endingbookvalue | 65,158,804.83 | 65,158,804.83 |
| Openingbookvalue | 66,720,850.69 | 66,720,850.69 |
(2)Investmentrealestatewithoutpropertycertificationheld
| Item | Bookvalue | Reasonsforfailingtocompletepropertyrightscertificate |
| J03Workshop | 17,385,049.02 | Relatedpropertyrightsinprocedure |
| Subtotal | 17,385,049.02 |
16.Fixedassets
(1)Detail
| Item | Bookvalueatyear-end | Bookvalueatyear-begin |
| Fixedassets | 2,180,984,753.83 | 2,186,003,136.01 |
| Liquidationoffixedassets | 32,293,183.76 | 32,847,524.11 |
| Total | 2,213,277,937.59 | 2,218,850,660.12 |
(2)Fixedassets
1)Detail
| Item | Houseandbuildings | Machineryequipment | Transportequipment | Otherequipment | Total |
| Originalbookvalue | |||||
| Balanceatyear-begin | 1,926,735,273.03 | 2,008,694,068.48 | 39,848,511.25 | 318,556,541.88 | 4,293,834,394.64 |
| Increaseinthisyear | 10,731,769.46 | 100,841,036.19 | 2,400,966.54 | 15,850,504.20 | 129,824,276.39 |
| Purchase | 4,674,298.89 | 362,440.71 | 790,977.77 | 5,827,717.37 | |
| Constructioninprogresstransfer-in | 10,731,769.46 | 96,166,737.30 | 2,038,525.83 | 15,059,526.43 | 123,996,559.02 |
| Decreaseinthisyear | 130,899.82 | 38,028,501.24 | 797,163.50 | 9,791,105.44 | 48,747,670.00 |
| Disposeorretirement | 98,000.00 | 26,600,199.25 | 779,540.44 | 7,065,194.11 | 34,542,933.80 |
| Constructioninprogresstransfer-in | 11,399,027.65 | 2,630,279.69 | 14,029,307.34 | ||
| 3)Foreigncurrencyconversiondecreased | 17,623.06 | 95,551.99 | 113,175.05 | ||
| 4)Other | 32,899.82 | 29,274.34 | 79.65 | 62,253.81 | |
| Balanceatyear-end | 1,937,336,142.67 | 2,071,506,603.43 | 41,452,314.29 | 324,615,940.64 | 4,374,911,001.03 |
| Item | Houseandbuildings | Machineryequipment | Transportequipment | Otherequipment | Total |
| Accumulateddepreciation | |||||
| Balanceatyear-begin | 658,583,789.90 | 1,249,986,359.00 | 26,345,062.66 | 166,836,619.33 | 2,101,751,830.89 |
| Increaseinthisyear | 31,054,703.77 | 77,343,243.76 | 1,385,959.24 | 14,153,752.34 | 123,937,659.11 |
| (1)Accrual | 31,054,703.77 | 77,343,243.76 | 1,385,959.24 | 14,153,752.34 | 123,937,659.11 |
| Decreaseinthisyear | 42,648.81 | 29,937,724.18 | 756,705.81 | 6,996,844.09 | 37,733,922.89 |
| Disposeorretirement | 42,648.81 | 24,446,881.96 | 740,563.41 | 6,667,597.28 | 31,897,691.46 |
| Constructioninprogresstransfer-in | 5,490,842.22 | 260,475.70 | 5,751,317.92 | ||
| 3)Foreigncurrencyconversiondecreased | 16,142.40 | 68,771.11 | 84,913.51 | ||
| Balanceatyear-end | 689,595,844.86 | 1,297,391,878.58 | 26,974,316.09 | 173,993,527.58 | 2,187,955,567.11 |
| Impairmentprovision | |||||
| .Balanceatyear-begin | 199,392.18 | 4,854,224.57 | 1,025,810.99 | 6,079,427.74 | |
| .Increaseinthisyear | |||||
| Decreaseinthisyear | 108,747.65 | 108,747.65 | |||
| 1)Disposeorretirement | 108,747.65 | 108,747.65 | |||
| Balanceatyear-end | 199,392.18 | 4,854,224.57 | 917,063.34 | 5,970,680.09 | |
| Bookvalue | |||||
| Endingbookvalue | 1,247,540,905.63 | 769,260,500.28 | 14,477,998.20 | 149,705,349.72 | 2,180,984,753.83 |
| Openingbookvalue | 1,267,952,090.95 | 753,853,484.91 | 13,503,448.59 | 150,694,111.56 | 2,186,003,136.01 |
2)Fixedassetstemporaryidle
| Item | Originalbookvalue | Accumulateddepreciation | Impairmentprovision | Bookvalue | Remark |
| Machineryequipment | 33,625,486.70 | 26,488,906.13 | 4,708,327.50 | 2,428,253.07 |
| Item | Originalbookvalue | Accumulateddepreciation | Impairmentprovision | Bookvalue | Remark |
| Transportequipment | 311,972.65 | 296,374.00 | 15,598.65 | ||
| Otherequipment | 2,499,298.25 | 2,345,645.00 | 28,688.29 | 124,964.96 | |
| Subtotal | 36,436,757.60 | 29,130,925.13 | 4,737,015.79 | 2,568,816.68 |
3)Fixedassetsleasedthroughoperatinglease
| Item | Originalbookvalue | Accumulateddepreciation | Impairmentprovision | Bookvalue | Remark |
| Houseandbuildings | 96,725,138.01 | 41,961,619.22 | 54,763,518.79 | ||
| Machineryequipment | 24,020,373.42 | 15,314,892.90 | 8,705,480.52 | ||
| Otherequipment | 290,703.88 | 285,087.47 | 5,616.41 | ||
| Subtotal | 121,036,215.31 | 57,561,599.59 | 63,474,615.72 |
4)Fixedassetswithoutpropertycertificate
| Item | Bookvalue | Reasonofnotcompletethepropertycertificate |
| J01workshop | 24,625,231.24 | Relatedpropertyrightsinprocedure |
| J02workshop | 26,568,149.00 | Relatedpropertyrightsinprocedure |
| J08packingmaterialswarehouse | 4,089,944.83 | Relatedpropertyrightsinprocedure |
| J09rawmaterialwarehouse | 5,890,558.98 | Relatedpropertyrightsinprocedure |
| J50finishedproductwarehouse | 15,326,068.55 | Relatedpropertyrightsinprocedure |
| J51finishedproductwarehouse | 14,870,560.16 | Relatedpropertyrightsinprocedure |
| J52finishedproductwarehouse | 10,786,965.59 | Relatedpropertyrightsinprocedure |
| J53inishedproductwarehouse | 11,283,811.35 | Relatedpropertyrightsinprocedure |
| J54finishedproductwarehouse | 10,546,251.51 | Relatedpropertyrightsinprocedure |
| J55finishedproductwarehouse | 9,723,224.02 | Relatedpropertyrightsinprocedure |
| J56finishedproductwarehouse | 9,723,224.02 | Relatedpropertyrightsinprocedure |
| Item | Bookvalue | Reasonofnotcompletethepropertycertificate |
| Canopy | 1,445,037.22 | Relatedpropertyrightsinprocedure |
| Corridor | 2,996,203.72 | Relatedpropertyrightsinprocedure |
| 8#R&DBuilding | 22,720,111.74 | Relatedpropertyrightsinprocedure |
| Subtotal | 170,595,341.93 |
(3)Disposaloffixedassets
| Item | Amountatyear-end | Amountatyear-begin |
| Relevantassetsdisposalforreservedlands | 32,293,183.76 | 32,293,183.76 |
| Machineryequipment | 554,340.35 | |
| Subtotal | 32,293,183.76 | 32,847,524.11 |
PursuanttotheurbanplanningrequirementsofHefeiMunicipalGovernmentandtheGovernmentofFeidongcounty,thelandreservecenterofFeidongcountywillpurchaseandstorethelanduserightofaneconomicdevelopmentzonelocatedatFeidongcounty,Hefeicity,whichisownedbytheCompany’ssubordinatecompanies,EquatorElectricandEquatorHomeAppliance,respectively,withanareaof19,245.09sq.m.(Approximately28.87mu,LandUseRightCertificateNo.:DongGuoYong(2008)No.0366,thestateduseofthelandisforindustrialpurpose)andanareaof46,161.9sq.m.(Approximately69.24mu,LandUseRightCertificateNo.:DongGuoYong(2008)No.0367,thestateduseofthelandisforindustrialpurpose).Thetotalconsiderationforpurchasingandstorageisapproximately36millionyuan,ofwhichtheconsiderationforthelanduserightownedbyEquatorElectricandEquatorHomeApplianceisapproximately10.59millionyuanand
25.41millionyuan,respectively.TheCompanyhascompletedtherelocationofoccupantsofthepremises,andthenetfixedassetsinrelationtothelandwilltransferasdisposal,accountingtreatmentwillbeconductinlinewithrelevantrulesuponreceivingoftherelocationcompensation.Noimpairmentofrelevantassetsdisposalforreservedlandsatyear-end.
17.Constructioninprogress
(1)Detail
| Item | Endingbalance | Beginningbalance |
| Constructioninprogress | 137,461,480.68 | 97,807,983.40 |
| Item | Endingbalance | Beginningbalance |
| Total | 137,461,480.68 | 97,807,983.40 |
(2)Constructioninprogress
1)Detail
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Hefeimanufacturingbaserefrigeratorfront-endproductioncapacitypromotionproject | 25,142,732.96 | 25,142,732.96 | 27,527,110.50 | 27,527,110.50 | ||
| TechnicaltransformationprojectofZhongshanChanghong | 15,445,888.68 | 15,445,888.68 | 6,432,519.38 | 6,432,519.38 | ||
| InvestmentProjecttoManufacturingCompanybyWashingMachineBusinessDepartmenttoIncreaseProductionandGuaranteeSupplyin2024 | 14,863,370.92 | 14,863,370.92 | 8,092,928.45 | 8,092,928.45 | ||
| IntelligenttestequipmentupdateprojectofthetestingCenter | 9,619,337.33 | 9,619,337.33 | ||||
| Airconditioningmanufacturingsystemcapacityupgradingproject | 7,961,040.19 | 7,961,040.19 | 14,077,889.01 | 14,077,889.01 | ||
| LivingareaNo.3apartmentbuildingrenovationproject | 4,765,530.11 | 4,765,530.11 | ||||
| Renewalprojectofmulti-gunfilingequipmentonthebackoflargerefrigerator | 4,429,450.36 | 4,429,450.36 | 1,446,902.65 | 1,446,902.65 | ||
| ExtrusionandCrushingCapacityImprovement | 4,060,600.12 | 4,060,600.12 | 3,654,455.49 | 3,654,455.49 | ||
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| DemandProjectofHefeiRefrigeratorManufacturingCompany | ||||||
| Drumwashingmachineinnercylinderstampingandpartloadinglineequipmentprocurementproject | 4,035,398.24 | 4,035,398.24 | ||||
| Basterassemblylineequipmentproject | 2,649,557.52 | 2,649,557.52 | ||||
| The5gbasestationequipmentproject | 2,555,715.14 | 2,555,715.14 | ||||
| Drumwashingmachineinnercylinderautomaticweldingformingequipmentproject | 2,208,849.56 | 2,208,849.56 | ||||
| Pre-installationandcleaningofBaotousteelplatformconstructionprojectofworkshopNo.1andNo.3 | 1,885,736.41 | 1,885,736.41 | ||||
| Bmachineboxfrontcoverstampingmoldingequipmentproject | 1,853,097.35 | 1,853,097.35 | ||||
| InvestmentProjectofProductionEquipmentforInnerCylinderofMeilingExportDryer | 1,441,592.92 | 1,441,592.92 | 1,441,592.92 | 1,441,592.92 | ||
| DoorShellCapacityEquipmentUpdateProject | 218,951.80 | 218,951.80 | 1,947,251.99 | 1,947,251.99 | ||
| To-be-installedEquipmentProject | 2,774,000.00 | 2,774,000.00 | ||||
| PlasticVacuumFormingMachineProject | 3,590,796.45 | 3,590,796.45 | ||||
| FixedAssetsProjectof7kgSupportingProductionEquipment | 3,535,542.99 | 3,535,542.99 | ||||
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| ReconstructionofJ05Two-DeviceWorkshopofAirConditioningCompany-SteelPlatformProject | 3,447,901.14 | 3,447,901.14 | ||||
| InvestmentProjectforSwitchingTechnologyPlatformofCabinetAirConditioningHeatExchanger | 1,686,232.80 | 1,686,232.80 | ||||
| Otherproject | 34,324,631.07 | 34,324,631.07 | 18,152,859.63 | 18,152,859.63 | ||
| Total | 137,461,480.68 | 137,461,480.68 | 97,807,983.40 | 97,807,983.40 | ||
2)Changesinsignificantconstructioninprogress
| Nameoftheproject | Budget | Beginningbalance | Amountincreasedinthecurrentperiod | Amountoffixedassetstransferredinthecurrentperiod | Otherdecreasesfortheperiod | Endingbalance |
| Hefeimanufacturingbaserefrigeratorfront-endproductioncapacityimprovementproject | 88,000,000.00 | 27,527,110.50 | 11,219,851.69 | 13,604,229.23 | 25,142,732.96 |
（Continued）
| Name | Theproportionofthecumulativeinvestmentoftheprojecttothebudget | Progressoftheproject | Theaccumulatedamountofinterestcapitalization | Thereinto:theamountofinterestcapitalizationinthecurrentperiod | Capitalizationrateofinterestforthecurrentperiod | Fundssource |
| Hefeimanufacturingbaserefrigeratorfront-endproductioncapacityimprovementproject | 63.91 | 71.07 | Selffunds |
18.Right-of-useassets
| Item | Houseandbuildings | Total |
| Originalbookvalue | ||
| .Balanceatyear-begin | 132,214,806.53 | 132,214,806.53 |
| Increaseinthisyear | 58,728,740.68 | 58,728,740.68 |
| (1)Rentin | 58,728,740.68 | 58,728,740.68 |
| Decreaseinthisyear | ||
| Endingbalance | 190,943,547.21 | 190,943,547.21 |
| Accumulateddepreciation | ||
| Beginningbalance | 18,430,615.75 | 18,430,615.75 |
| Increaseinthisyear | 13,445,610.57 | 13,445,610.57 |
| (1)Accrual | 13,445,610.57 | 13,445,610.57 |
| Decreaseinthisyear | ||
| Endingbalance | 31,876,226.32 | 31,876,226.32 |
| .Bookvalue | ||
| Endingbookvalue | 159,067,320.89 | 159,067,320.89 |
| Openingbookvalue | 113,784,190.78 | 113,784,190.78 |
TheCompanyaccrualthedepreciationonright-of-useassetsfromthecommencementdateoftheleaseperiod.Dependingonuseoftheassets,amountofaccrualwillincludedincostsofrelevant
assetsorcurrentgain/loss.
19.Intangibleassets
(1)Detail
| Item | Landuseright | Trademarkspecialright | Non-patenttechnology | Patenttechnology | Other | Total |
| Originalbookvalue | ||||||
| Beginningbalance | 926,964,151.60 | 283,292,439.34 | 838,399,894.77 | 310,434,004.48 | 11,769,444.20 | 2,370,859,934.39 |
| Increaseinthisyear | 52,154,815.41 | 33,979,359.15 | 2,048,071.46 | 88,182,246.02 | ||
| 1)Purchase | 2,048,071.46 | 2,048,071.46 | ||||
| 2)InternalR&D | 52,154,815.41 | 33,979,359.15 | 86,134,174.56 | |||
| 3)Other | ||||||
| Decreaseinthisyear | 11,572,776.34 | 11,572,776.34 | ||||
| 1)Disposal | 11,572,776.34 | 11,572,776.34 | ||||
| 2)Other | ||||||
| Endingbalance | 926,964,151.60 | 283,292,439.34 | 878,981,933.84 | 344,413,363.63 | 13,817,515.66 | 2,447,469,404.07 |
| Accumulatedamortization | ||||||
| Beginningbalance | 271,524,126.38 | 283,292,439.34 | 625,782,954.06 | 115,102,831.62 | 5,607,264.60 | 1,301,309,616.00 |
| Increaseinthisyear | 9,831,909.67 | 45,288,523.28 | 26,565,106.67 | 617,827.29 | 82,303,366.91 | |
| (1)Accrual | 9,831,909.67 | 45,288,523.28 | 26,565,106.67 | 617,827.29 | 82,303,366.91 | |
| 2)Other | ||||||
| Decreaseinthisyear | 11,572,776.34 | 11,572,776.34 | ||||
| 1)Disposal | 11,572,776.34 | 11,572,776.34 | ||||
| 2)Other | ||||||
| Endingbalance | 281,356,036.05 | 283,292,439.34 | 659,498,701.00 | 141,667,938.29 | 6,225,091.89 | 1,372,040,206.57 |
| .Impairmentprovision | ||||||
| .Beginningbalance | 49,048,935.23 | 21,946,682.50 | 4,124,734.61 | 75,120,352.34 |
| Item | Landuseright | Trademarkspecialright | Non-patenttechnology | Patenttechnology | Other | Total |
| Increaseinthisyear | ||||||
| 1)Accrual | ||||||
| Decreaseinthisyear | ||||||
| 1)Disposal | ||||||
| 2)Other | ||||||
| Endingbalance | 49,048,935.23 | 21,946,682.50 | 4,124,734.61 | 75,120,352.34 | ||
| Bookvalue | ||||||
| Endingbookvalue | 645,608,115.55 | 170,434,297.61 | 180,798,742.84 | 3,467,689.16 | 1,000,308,845.16 | |
| Openingbookvalue | 655,440,025.22 | 163,568,005.48 | 173,384,490.36 | 2,037,444.99 | 994,429,966.05 |
Theintangibleassetsresultedfrominternalresearchtakes3.52%ofthebalanceofintangibleassetsatyear-end
20.Developmentexpense
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| TechnologydevelopmentforAir-conditioner | 52,128,831.74 | 52,128,831.74 | 35,786,399.85 | 35,786,399.85 | ||
| Technologydevelopmentforrefrigerator | 55,670,770.01 | 55,670,770.01 | 38,924,294.89 | 38,924,294.89 | ||
| Total | 107,799,601.75 | 107,799,601.75 | 74,710,694.74 | 74,710,694.74 | ||
21.Goodwill
(1)Originalvalueofgoodwill
| Investedenterprise | Balanceatyear-begin | Formationfromenterprisemerger | Decreasethisyear | Endingbalance | |
| Disposal | Other | ||||
| Investedenterprise | Balanceatyear-begin | Formationfromenterprisemerger | Decreasethisyear | Endingbalance | |
| Disposal | Other | ||||
| HefeiMeilingGroupHoldingsLimited | 3,553,367.77 | 3,553,367.77 | |||
| Total | 3,553,367.77 | 3,553,367.77 | |||
(2)Impairmentlossofgoodwill
| Investedenterprise | Beginningbalance | Increasethisyear | Decreasethisyear | Endingbalance | ||
| Accrual | Other | Accrual | Other | |||
| HefeiMeilingGroupHoldingsLimited | 3,553,367.77 | 3,553,367.77 | ||||
| Total | 3,553,367.77 | 3,553,367.77 | ||||
22.Long-termprepaidexpenses
| Item | Openingbalance | Increasethisperiod | Amortizationfortheperiod | Otherdecreases | Endingbalance |
| Fixedassetsoverhaul | 30,772,234.51 | 3,233,938.05 | 10,663,276.93 | 128,989.20 | 23,213,906.43 |
| Rentalplantdecorationproject | 2,564,537.72 | 655,150.32 | 1,909,387.40 | ||
| Total | 33,336,772.23 | 3,233,938.05 | 11,318,427.25 | 128,989.20 | 25,123,293.83 |
22.Deferredtaxassetsanddeferredtaxliabilities
(1)Deferredincometaxassetswithouttheoffset
| Item | Endingbalance | Openingbalance | ||
| Deductibletemporarydifference | Deferredincometaxassets | Deductibletemporarydifference | Deferredincometaxassets | |
| Deductionofloss | 156,797,461.99 | 23,519,619.30 | 360,864,560.75 | 54,129,684.11 |
| Assetimpairmentprovision | 392,491,757.09 | 59,240,768.37 | 338,637,346.07 | 51,171,867.09 |
| Item | Endingbalance | Openingbalance | ||
| Deductibletemporarydifference | Deferredincometaxassets | Deductibletemporarydifference | Deferredincometaxassets | |
| Leaseliabilities | 173,928,587.46 | 26,797,777.00 | 121,116,910.59 | 18,556,500.32 |
| Changesinfairvalue | 47,736,138.44 | 7,160,420.77 | 156,334,600.79 | 23,450,190.12 |
| Deferredincome | 68,768,731.79 | 10,315,309.78 | 77,980,146.46 | 11,697,021.96 |
| Estimatedliability | 49,148,461.85 | 7,720,588.16 | 44,310,978.00 | 6,994,965.59 |
| Dismissionwelfare | 11,803,234.12 | 1,770,485.12 | 12,394,842.89 | 1,859,226.44 |
| Witholdingexpenses | 8,782,663.76 | 1,889,281.53 | 6,624,971.58 | 1,387,454.96 |
| Accelerateddepreciationandamortizationofintangibleassets | 55,758,680.09 | 7,942,612.00 | 51,380,204.58 | 7,707,030.68 |
| Total | 965,215,716.59 | 146,356,862.03 | 1,169,644,561.71 | 176,953,941.27 |
(2)Deferredincometaxliabilitieswithouttheoffset
| Item | Endingbalance | Openingbalance | ||
| Taxabletemporarydifferences | Deferredincometaxliability | Taxabletemporarydifferences | Deferredincometaxliability | |
| Recognizedbychangesinfairvalue | 119,322,057.32 | 17,898,308.60 | 143,241,777.44 | 21,486,266.61 |
| Deferredincometaxliabilitiesrecognizedbyuseasset | 158,355,889.37 | 24,110,814.06 | 112,973,204.23 | 17,323,066.27 |
| Recognizedbyfixedassetsdepreciation | 33,706,949.96 | 5,056,042.51 | 35,081,399.76 | 5,263,260.42 |
| Total | 311,384,896.65 | 47,065,165.17 | 291,296,381.43 | 44,072,593.30 |
(3)Detailsofunrecognizeddeferredincometaxassets
| Item | Endingbalance | Openingbalance |
| Deductibletemporarydifference | 194,824,144.90 | 175,445,032.54 |
| Deductibleloss | 250,401,533.29 | 204,180,133.57 |
| Item | Endingbalance | Openingbalance |
| Total | 445,225,678.19 | 379,625,166.11 |
24.Othernon-currentassets
(1)Detail
| Item | Amountatyear-end | Amountatyear-begin | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Prepaidengineering | 139,360.21 | 139,360.21 | 276,000.00 | 276,000.00 | ||
| Prepaidequipment | 11,098,209.79 | 11,098,209.79 | 9,704,450.56 | 9,704,450.56 | ||
| Prepaidland | 61,368,941.92 | 61,368,941.92 | ||||
| Warrantymoneyduewithinoneyear | 9,132,816.01 | 30,000.00 | 9,102,816.01 | 9,623,211.67 | 530,000.00 | 9,093,211.67 |
| Total | 81,739,327.93 | 30,000.00 | 81,709,327.93 | 19,603,662.23 | 530,000.00 | 19,073,662.23 |
(2)Importanttoothernon-currentassets
| Item | Amountatyear-end | Amountatyear-begin |
| Prepaidland | 61,368,941.92 | |
| Total | 61,368,941.92 |
25.Assetswithrestrictedownershiporuseright
| Item | BookBalance | Bookvalue | Restrictiontype | Restrictioninformation |
| Monetaryfunds | 723,962,679.56 | 723,962,679.56 | Frozen | Securitydeposit;Frozenforlitigation |
| Receivablefinancing | 386,358,345.21 | 386,358,345.21 | Pledge | Pledgeforissuingbankacceptancebills |
| Total | 1,110,321,024.77 | 1,110,321,024.77 |
（Continued）
| Item | BookBalance | Bookvalue | Restrictiontype | Restrictioninformation |
| Monetaryfunds | 510,680,650.07 | 510,680,650.07 | Frozen | Securitydeposit;Frozenforlitigation |
| Receivablefinancing | 584,233,204.78 | 584,233,204.78 | Pledge | Pledgeforissuingbankacceptancebills |
| Total | 1,094,913,854.85 | 1,094,913,854.85 |
26.Short-termloans
| Category | Endingbalance | Openingbalance |
| Loanincredit | 1,261,143,747.01 | 750,608,522.12 |
| Pledgeloan | 16,000,000.00 | |
| Interestpayable | 406,041.30 | 138,763.89 |
| Total | 1,261,549,788.31 | 766,747,286.01 |
27.Derivativefinancialliabilities
| Item | Endingbalance | Openingbalance |
| Forwardexchangecontract | 53,273,870.31 | 156,359,680.92 |
| Total | 53,273,870.31 | 156,359,680.92 |
28.Notepayable
| Type | Endingbalance | Beginningbalance |
| Bankacceptance | 8,433,910,684.20 | 6,418,137,195.82 |
| TradeacceptanceofFinanceCompany | 789,194,260.53 | 870,829,729.52 |
| CommercialAcceptanceBill | 864,104,505.88 | 645,158,510.31 |
| Total | 10,087,209,450.61 | 7,934,125,435.65 |
29.Accountpayable
(1)Detail
| Item | Amountatyear-end | Amountatyear-begin |
| Within1year | 7,268,109,309.01 | 6,045,137,505.31 |
| Amountagedover1year | 70,567,723.63 | 86,883,083.10 |
| Total | 7,338,677,032.64 | 6,132,020,588.41 |
(2)Majoraccountpayablewithoveroneyearbookageatyear-end:N/A30Receivedinadvance.
| Category | Amountatyear-end | Amountatyear-begin |
| Rentreceivedinadvance | 665,432.82 | 11,085.70 |
| Total | 665,432.82 | 11,085.70 |
31.Contractliabilities
(1)Detail
| Item | Amountatyear-end | Amountatyear-begin |
| Within1year | 344,293,404.98 | 583,600,476.83 |
| Amountagedover1year | 31,031,413.60 | 26,137,394.41 |
| Total | 375,324,818.58 | 609,737,871.24 |
(2)Majorcontractliabilitieswithoveroneyearbookageatyear-end.:N/A
(3)Significantchangesinthebookvalueinthecurrentperiod
| Item | Changeamount | Reason |
| Goods | 234,413,052.66 | Advancepaymentforgoodsdecreased |
| Subtotal | 234,413,052.66 |
32.Wagespayable
(1)Detail
| Item | Beginningbalance | Increasethisyear | Decreasethisyear | Endingbalance |
| Short-term | 384,437,904.80 | 1,104,275,728.17 | 1,150,765,437.75 | 337,948,195.22 |
| Item | Beginningbalance | Increasethisyear | Decreasethisyear | Endingbalance |
| compensation | ||||
| After-servicewelfare-definedcontributionplans | 1,400,515.59 | 79,353,734.52 | 79,540,506.98 | 1,213,743.13 |
| Dismisswelfare | 4,114,357.07 | 3,288,187.79 | 3,768,426.14 | 3,634,118.72 |
| Total | 389,952,777.46 | 1,186,917,650.48 | 1,234,074,370.87 | 342,796,057.07 |
(2)Short-termcompensation
| Item | Beginningbalance | Increasethisyear | Decreasethisyear | Endingbalance |
| Wages,bonuses,allowancesandsubsidies | 374,843,225.41 | 992,788,306.08 | 1,040,405,521.72 | 327,226,009.77 |
| Welfareforworkersandstaff | 893,842.87 | 33,375,708.26 | 32,789,338.20 | 1,480,212.93 |
| Socialinsurance | 1,457,416.62 | 33,417,105.65 | 33,088,142.77 | 1,786,379.50 |
| Including:Medicalinsurance | 1,433,762.81 | 30,315,764.46 | 30,531,921.66 | 1,217,605.61 |
| Workinjuryinsurance | 23,653.81 | 3,101,341.19 | 2,556,221.11 | 568,773.89 |
| Housingaccumulationfund | 5,552,586.89 | 41,041,959.49 | 41,124,962.28 | 5,469,584.10 |
| Laborunionexpenditureandpersonneleducationexpense | 1,690,833.01 | 3,652,648.69 | 3,357,472.78 | 1,986,008.92 |
| Subtotal | 384,437,904.80 | 1,104,275,728.17 | 1,150,765,437.75 | 337,948,195.22 |
(3)Definedcontributionplans
| Item | Beginningbalance | Increasethisyear | Decreasethisyear | Endingbalance |
| Basicendowmentinsurance | 714,811.55 | 76,541,954.41 | 76,727,269.49 | 529,496.47 |
| Unemployment | 685,704.04 | 2,811,780.11 | 2,813,237.49 | 684,246.66 |
| Item | Beginningbalance | Increasethisyear | Decreasethisyear | Endingbalance |
| insurance | ||||
| Total | 1,400,515.59 | 79,353,734.52 | 79,540,506.98 | 1,213,743.13 |
33.Taxpayable
| Item | Endingbalance | Beginningbalance |
| Enterpriseincometax | 37,481,000.96 | 37,295,721.67 |
| Value-addedtax | 15,574,753.90 | 18,736,805.30 |
| Individualincometax | 1,946,893.31 | 10,765,426.61 |
| Urbanmaintenanceandconstructiontax | 8,972,334.10 | 9,332,329.70 |
| Educationalsurtax | 6,570,808.34 | 6,751,533.75 |
| Stamptax | 7,061,732.63 | 5,165,439.65 |
| Realestatetax | 4,719,305.93 | 4,547,226.68 |
| Landusetax | 1,752,087.58 | 1,752,087.81 |
| Other | 1,685,617.08 | 1,524,968.81 |
| Total | 85,764,533.83 | 95,871,539.98 |
34.Otheraccountpayable
(1)Detail
| Item | Endingbalance | Beginningbalance |
| Dividendpayable | 7,492,505.08 | 6,005,989.72 |
| Otheraccountpayable | 1,090,144,405.75 | 1,025,433,422.81 |
| Total | 1,097,636,910.83 | 1,031,439,412.53 |
(2)Dividendpayable
Dividendspayableareclassifiedbythenameoftheunitpayable
| Item | Balanceatyear-end | Balanceatyear-begin |
| ChinaLifeInsurance(Group)Company | 43,992.07 | 43,992.07 |
| PICC | 65,987.57 | 65,987.57 |
| BankofCommunications-FuguoTianyiValueSecuritiesInvestmentFund | 153,697.50 | 153,697.50 |
| HefeiBranchofBankofChina | 833,894.30 | 631,013.60 |
| HefeiCollectiveIndustrialAssociation | 833,892.97 | 631,012.60 |
| ProvincialtrustandinvestmentcompanyWuhuoffice | 667,115.46 | 504,810.90 |
| Other | 4,893,925.21 | 3,975,475.48 |
| Total | 7,492,505.08 | 6,005,989.72 |
(3)Otheraccountpayablebynature
| Item | Balanceatyear-end | Balanceatyear-begin |
| Accruedexpenses | 569,688,140.93 | 503,726,134.42 |
| Receivablesreceivedtemporaryanddeductedtemporary | 7,066,209.50 | 6,356,898.80 |
| Deposit,margin | 173,223,703.42 | 170,587,261.56 |
| Notthecome-and-gowithrelatedpartiesinstatementscope | 303,901,476.91 | 312,082,468.47 |
| Other | 36,264,874.99 | 32,680,659.56 |
| Total | 1,090,144,405.75 | 1,025,433,422.81 |
35.Non-currentliabilityduewithinoneyear
| Item | Balanceatyear-end | Balanceatyear-begin |
| Long-termloanprincipalandinterestduewithinoneyear | 9,594,650.00 | 9,844,660.00 |
| Leaseliabilitiesduewithinoneyear | 31,596,844.38 | 19,290,504.68 |
| Productqualityduewithinoneyear | 14,450,010.11 | |
| Total | 55,641,504.49 | 29,135,164.68 |
36.Othercurrentliabilities
| Item | Balanceatyear-end | Balanceatyear-begin |
| Pendingsalestax | 10,975,143.87 | 18,610,598.53 |
| Factoringfeespayable | 5,213,790.97 | |
| Total | 10,975,143.87 | 23,824,389.50 |
37.Leaseliability
| Item | Balanceatyear-end | Balanceatyear-begin |
| Leaseprepayment | 156,570,252.98 | 119,266,218.75 |
| Less：Unrecognizedfinancingcharges | 18,443,125.85 | 17,439,812.84 |
| Total | 138,127,127.13 | 101,826,405.91 |
38.Long-termpayable
(1)Detail
| Item | Endingbalance | Beginningbalance |
| Specialpayable | 284,000.40 | 455,409.20 |
| Total | 284,000.40 | 455,409.20 |
(2)Specialpayable
| Item | Beginningbalance | Increasethisyear | Decreasethisyear | Endingbalance |
| SpecialfundsfortechnologicaltransformationfromZhongshanChanghong | 455,409.20 | 171,408.80 | 284,000.40 | |
| Subtotal | 455,409.20 | 171,408.80 | 284,000.40 |
39.Long-termwagepayable
| Item | Endingbalance | Beginningbalance |
| Dismissalwelfare | 9,397,626.43 | 10,195,289.45 |
| Item | Endingbalance | Beginningbalance |
| Total | 9,397,626.43 | 10,195,289.45 |
40.Accrualliability
| Item | Endingbalance | Beginningbalance |
| Productqualityguaranteenote1 | 33,279,788.53 | 41,657,177.57 |
| Litigationmattersnote2 | 1,932,959.71 | 3,373,239.65 |
| Total | 35,212,748.24 | 45,030,417.22 |
Note1:ProductqualitydepositisthemaintenanceexpenseprovidedbytheCompanyunderthenationalpolicy.Note2:InNovember2021,ZhejiangTeruisiPharmaceuticalInc.filedalawsuitagainstZhongkeMeilingforthe"ColdStorageDesign,EquipmentPurchaseandInstallationConstructionContract".Currently,qualityofthesubjectunderthecontractisbeingauthenticatedbyathirdpartyengineeringqualityappraisalagency,theinitialstart-upoperationtestisnowcompleted.ZhongkeMeilingintendstomaintainthecoldstorageproject,andtheestimatedmaintenancecostis1,720,534.42yuan.Themanagementhasprovidedatotalestimatedliabilityof394337.90yuanforotherbusinesslawsuitsTheestimatedliabilitiesofRMB150,000.00werereversedaftertheconclusionofthelitigationinthecurrentperiod,andtheestimatedliabilitiesofRMB212,425.29wereremaininginprovision.
41.Deferredincome
| Item | Beginningbalance | Increasethisyear | Decreasethisyear | Endingbalance | Reason |
| Governmentsubsidies---subsidiesofdevelopmentproject | 97,151,856.84 | 2,727,513.27 | 12,974,325.85 | 86,905,044.26 | Governmentsubsidies |
| Governmentsubsidies---subsidiesofRelocation | 28,283,321.06 | 1,327,757.99 | 26,955,563.07 | Governmentsubsidies |
| Item | Beginningbalance | Increasethisyear | Decreasethisyear | Endingbalance | Reason |
| Total | 125,435,177.90 | 2,727,513.27 | 14,302,083.84 | 113,860,607.33 |
42.Sharecapital
| Items | Beginningbalance | Changeduringtheyear(+、-) | Endingbalance | ||||
| Newsharesissued | Bonusshare | Sharestransferredfromcapitalreserve | Other | Subtotal | |||
| Totalshares | 1,029,923,715.00 | 1,029,923,715.00 | |||||
43.Capitalreserve
| Item | Beginningbalance | Increasethisperiod | Decreasethisperiod | Endingbalance |
| Sharepremium | 2,702,427,123.99 | 2,702,427,123.99 | ||
| Othercapitalreserve | 48,043,091.40 | 48,043,091.40 | ||
| Total | 2,750,470,215.39 | 2,750,470,215.39 |
44.Othercomprehensiveincome
| Item | Beginningbalance | Currentperiod | Balanceatyear-end | |
| Netafter-taxamountofothercomprehensiveincome | Less:previously | |||
| AccountbeforeincometaxinCurrentYear | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtogainsandlossesincurrentperiod | Less：Incometaxexpenses | Belongtoparentcompanyaftertax | Belongtominorityshareholdersaftertax | ||||
| Reclassifyothercomprehensiveincomeintoprofitorloss | -21,222,419.68 | -763,639.02 | -687,659.84 | -75,979.18 | -21,910,079.52 | |||
| Including:Conversiondifferencearisingfromforeigncurrencyfinancialstatement | -21,222,419.68 | -763,639.02 | -687,659.84 | -75,979.18 | -21,910,079.52 | |||
| Total | -21,222,419.68 | -763,639.02 | -687,659.84 | -75,979.18 | -21,910,079.52 |
45.Specialreserves
(1)Detail
| Item | Amountatyear-begin | Increasethisyear | Decreasethisyear | Amountatyear-end |
| Safetyproductioncosts | 20,968,173.59 | 21,473,282.31 | 10,360,371.34 | 32,081,084.56 |
| Total | 20,968,173.59 | 21,473,282.31 | 10,360,371.34 | 32,081,084.56 |
(2)OthernoteNote:Thisyear'sincreasereferstotheworksafetyexpensesaccruedaccordingtothenoticeissuedbytheMinistryofFinanceonNovember21,2022onprintinganddistributingtheAdministrativeMeasuresfortheExtractionandUseofWorkSafetyExpensesofEnterprises(CZ[2022]No.136).
46.Surplusreserves
| Item | Amountatyear-begin | Increasethisyear | Decreasethisyear | Amountatyear-end |
| Statutorysurplusreserve | 386,846,368.86 | 386,846,368.86 | ||
| Discretionarysurplusreserve | 115,607,702.16 | 115,607,702.16 | ||
| Total | 502,454,071.02 | 502,454,071.02 |
47.Retainedprofit
(1)Detail
| Item | CurrentYear | LastYear |
| Prioryear-endbalance | 1,803,207,185.06 | 1,521,759,836.64 |
| Add:adjustmentfromundistributedprofitatyear-begin | -83,444,712.70 | |
| Including:retroactiveadjustmentbyAccountingStandardsforBusinessEnterprise | 1,803,207,185.06 | 1,438,315,123.94 |
| Add:netprofitattributabletoshareholdersofparentcompanyforthisyear | 417,187,345.27 | 699,270,051.82 |
| Less:withdrawofstatutorysurplusreserve | 25,400,876.20 | |
| Withdrawofgeneralriskprovision | ||
| Dividendpayableforordinaryshares | 339,874,825.94 | 308,977,114.50 |
| Undistributedprofitattheendoftheperiod | 1,880,519,704.39 | 1,803,207,185.06 |
(2)AdjustmentofthedetailsofundistributedprofitsatthebeginningoftheperiodThechangeofconsolidationscopecausedbythesamecontrolaffectstheundistributedprofitatthe
beginningoftheperiodRMB-83,444,712.70.
(II)Itemnotesoftheconsolidatedprofitstatement
1.Operationincomeandoperationcost
(1)Detail
| Item | Currentperiod | Lastperiod | ||
| Income | Cost | Income | Cost | |
| Mainbusiness | 17,934,000,029.18 | 16,111,118,535.91 | 14,847,789,922.86 | 13,284,533,174.58 |
| Otherbusiness | 137,515,812.97 | 73,111,017.88 | 111,561,100.68 | 56,879,463.86 |
| Total | 18,071,515,842.15 | 16,184,229,553.79 | 14,959,351,023.54 | 13,341,412,638.44 |
(2)Thedecompositioninformationofoperationincomeandoperationcost
| Type | CurrentPeriod | LastYear | ||
| Income | Cost | Income | Cost | |
| Product | ||||
| Including：Refrigerator | 11,575,132,133.83 | 10,767,469,443.16 | 8,499,905,660.36 | 7,927,249,747.85 |
| Freezer | 4,545,124,381.31 | 3,817,805,494.89 | 4,739,349,946.80 | 3,982,766,991.26 |
| Washingmachine | 1,040,297,063.65 | 860,191,967.10 | 783,936,724.28 | 668,562,117.28 |
| Smallhouseholdappliancesandkitchenandbathroom | 698,777,012.65 | 609,727,061.54 | 744,514,913.93 | 645,526,400.45 |
| Otherproduct | 74,669,437.74 | 55,924,569.22 | 80,082,677.49 | 60,427,917.74 |
| Otherbusiness | 137,515,812.97 | 73,111,017.88 | 111,561,100.68 | 56,879,463.86 |
| Area | ||||
| Domestic | 11,704,228,305.86 | 10,533,000,655.34 | 10,141,960,207.61 | 8,998,678,384.62 |
| Overseas | 6,367,287,536.29 | 5,651,228,898.45 | 4,817,390,815.93 | 4,342,734,253.82 |
| Subtotal | 18,071,515,842.15 | 16,184,229,553.79 | 14,959,351,023.54 | 13,341,412,638.44 |
(3)Informationrelatedtothetransactionpriceallocatedtotheremainingperformanceobligations
OnJune30,2025,theincomecorrespondingtotheperformanceobligationsthathavebeensignedbutnotyetfulfilledornotyetfullyfulfilledisRMB61,601,498.50*,ofwhichRMB61,374,246.17isexpectedtoberecognizedin2025,andRMB227,252.33in2026.
2.Businesstaxandextracharges
| Item | Currentperiod | Lastperiod |
| Stampduty | 15,212,183.90 | 12,585,245.79 |
| Cityconstructiontax | 12,970,196.28 | 12,702,987.89 |
| Realestatetax | 12,283,335.94 | 12,315,786.85 |
| Educationsurcharge | 10,076,956.20 | 9,560,933.80 |
| Landusetax | 4,513,182.26 | 4,513,182.52 |
| Waterfund | 3,915,580.03 | 3,898,938.49 |
| Other | 17,932.94 | 14,569.15 |
| Total | 58,989,367.55 | 55,591,644.49 |
3.Salesexpense
| Item | Currentperiod | Lastperiod |
| Salary,extrachargesandlaborserviceexpenses | 314,016,874.12 | 301,793,753.60 |
| Marketsupportexpenses | 201,984,864.34 | 187,323,915.04 |
| ShippingandInstallationexpense | 102,076,111.15 | 91,952,697.03 |
| Storageleaseexpenses | 77,992,927.54 | 70,156,124.81 |
| Insurance | 37,015,580.01 | 26,125,049.13 |
| Travellingexpenses | 22,428,121.23 | 12,042,153.80 |
| Qualitycompensationfee | 14,693,361.45 | 13,238,020.07 |
| Threefee | 13,862,035.97 | 17,004,634.35 |
| Service | 8,335,855.04 | 136,057.92 |
| Item | Currentperiod | Lastperiod |
| Businessactivityexpenses | 7,709,818.45 | 7,428,851.26 |
| Inspectioncertificationfee | 6,283,114.50 | 6,356,358.97 |
| Depreciationexpenses | 5,870,513.19 | 4,127,717.61 |
| Vehicleexpenses | 5,186,209.76 | 7,091,465.14 |
| Servicesupportfee | 5,084,672.79 | 1,062,989.28 |
| Otherexpenses | 11,982,563.34 | 11,748,274.93 |
| Total | 834,522,622.88 | 757,588,062.94 |
4.Administrationexpense
| Item | CurrentYear | LastYear |
| Salaryandsocialinsuranceetc. | 135,241,937.24 | 105,453,522.40 |
| Depreciation | 23,578,248.25 | 23,982,635.64 |
| Softwareuse | 5,242,763.53 | 2,036,485.69 |
| Waterandelectricityfee | 3,808,112.62 | 3,480,062.62 |
| Insurance | 2,993,293.26 | 2,328,910.71 |
| Servicesupportfee | 2,790,328.64 | 3,916,150.51 |
| Businessactivitiesfee | 2,002,249.17 | 2,172,710.94 |
| Domestictravellingfee | 1,923,419.88 | 1,704,388.21 |
| Otherlow-valueconsumablesamortization | 1,485,031.26 | 684,751.97 |
| Safetyinproduction | 951,798.97 | 2,187,081.24 |
| Otherexpenses | 16,772,016.00 | 15,481,265.09 |
| Total | 196,789,198.82 | 163,427,965.02 |
5.R&Dexpenses
| Item | Currentperiod | Lastperiod |
| Salaryandsocialinsuranceetc. | 106,858,580.65 | 101,526,779.61 |
| Item | Currentperiod | Lastperiod |
| Amortizedintangibleassets | 84,015,906.64 | 73,956,521.52 |
| TrialfeeofR&D | 73,414,296.20 | 67,287,425.45 |
| Costofmould | 38,833,887.03 | 19,477,506.31 |
| Waterandelectricityfee | 5,817,758.63 | 5,451,257.04 |
| Marketsupportfee | 5,271,459.06 | 4,576,957.56 |
| Inspectionandauthenticationfee | 4,117,838.43 | 7,681,408.61 |
| Otherexpenses | 6,561,188.53 | 7,643,742.18 |
| Total | 324,890,915.17 | 287,601,598.28 |
6.Financialexpenses
| Item | CurrentYear | LastYear |
| Interestexpenditure | 16,981,902.08 | 14,112,775.88 |
| Including：Noamortizationoffinancingcharges | 2,570,683.48 | 1,313,056.18 |
| Less:Interestincome | 71,912,776.32 | 98,862,200.53 |
| Add:exchangeloss | 50,264,386.11 | -8,064,704.24 |
| Discountexpenditure | -16,786,123.47 | -18,083,136.98 |
| Handlingfeeexpenditure | 10,430,436.36 | 8,614,882.16 |
| Total | -11,022,175.24 | -102,282,383.71 |
7.Otherincome
| Item | CurrentPeriod | LastPeriod | Amountincludedincurrentnon-recurringgainsandlosses |
| Advancedmanufacturingvalue-addedtaxdeduction | 14,473,492.64 | 15,829,786.63 | 14,473,492.64 |
| Thedeferredincomeistransferred | 23,223,527.95 | 14,215,806.48 | 20,482,618.09 |
| ImmediateVATrefundaftercollection | 2,740,909.86 | 4,288,247.02 |
| Item | CurrentPeriod | LastPeriod | Amountincludedincurrentnon-recurringgainsandlosses |
| Refundofhandlingfeeforpersonalincometaxwithheld | 927,431.44 | 765,034.50 | |
| AdditionalVATdeduction | 41,515,022.75 | 50,468,374.01 | |
| Debtrestructuringearnings | 84,052.53 | 84,052.53 | |
| Total | 80,223,527.31 | 81,279,001.62 | 35,040,163.26 |
8.Investmentincome
| Item | CurrentYear | LastYear |
| Long-termequityinvestmentincomebyequitymethod | 3,878,898.03 | 7,391,368.30 |
| Dispositionoftheinvestmentincomegeneratedbythelong-termequityinvestment | 38,829.19 | |
| Investmentincomeofothercurrentfinancialassetsduringholdingperiod | 1,656,388.88 | |
| Investmentincomeofothernon-currentfinancialassetsduringholdingperiod | 13,209,863.22 | 12,912,196.37 |
| Investmentincomeobtainedfromthedisposaloftradingfinancialassets | 17,632,788.91 | 5,161,010.58 |
| Investmentincomeobtainedfromdisposalofderivativefinancialassets | -41,561,284.50 | -11,176,333.81 |
| Interestincomefromdebtinvestmentduringtheholdingperiod | 23,874,062.41 | 11,593,385.08 |
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost | -18,998,835.41 | -24,604,289.53 |
| Total | -1,925,678.15 | 2,933,725.87 |
9.Changesinfairvaluegains
| Item | CurrentPeriod | LastPeriod |
| Tradingfinancialassets | 6,929,526.59 | 2,440,667.00 |
| Including：Thefairvalueofstructureddepositschangeincome | 6,929,526.59 | 2,440,667.00 |
| derivativefinancialassets | -27,731,486.38 | -30,482,326.98 |
| Item | CurrentPeriod | LastPeriod |
| Including:Incomeoffairvaluechangesfromderivativefinancialinstruments | -27,731,486.38 | -30,482,326.98 |
| derivativefinancialliabilities | 103,085,810.61 | -14,677,745.70 |
| Including:Incomeoffairvaluechangesfromderivativefinancialinstruments | 103,085,810.61 | -14,677,745.70 |
| Total | 82,283,850.82 | -42,719,405.68 |
10.Creditimpairmentloss
| Item | CurrentPeriod | LastPeriod |
| Accountreceivablebaddebtloss | -67,667,242.96 | 11,664,380.12 |
| Otheraccountreceivablebaddebtloss | -364,850.41 | 47,845.63 |
| Total | -68,032,093.37 | 11,712,225.75 |
11.Assetsimpairmentloss
| Item | CurrentPeriod | LastPeriod |
| Lossoninventoryvaluation | -65,476,409.46 | -27,799,697.87 |
| Developmentexpenseimpairmentloss | -1,530,365.17 | |
| Impairmentlossoncontractualassets | 928.17 | 41,475.88 |
| Otherimpairmentlossesofnon-currentassets | 30,000.00 | |
| Total | -65,475,481.29 | -29,258,587.16 |
12.Incomefromassetsdisposal
| Item | CurrentPeriod | LastPeriod |
| Incomefromnon-currentassetsdisposal | 108,659.65 | 36,334.95 |
| Including:Incomefromfixedassetsdisposal | 108,659.65 | 36,334.95 |
| Total | 108,659.65 | 36,334.95 |
13.Non-operationrevenue
| Item | CurrentPeriod | LastPeriod | Amountreckonedintonon-recurringgains/lossesinCurrentPeriod |
| Incomeofpenalty | 709,033.01 | 1,335,121.66 | 709,033.01 |
| Other | 1,585,053.25 | 1,632,264.53 | 1,585,053.25 |
| Total | 2,294,086.26 | 2,967,386.19 | 2,294,086.26 |
14.Non-operationrevenue
| Item | CurrentPeriod | LastPeriod | Amountreckonedintonon-recurringgains/lossesinCurrentPeriod |
| Non-currentassetretirementlosses | 1,894,696.91 | 1,335,367.01 | 1,894,696.91 |
| Publicwelfaredonationexpenditure | 300,000.00 | 300,000.00 | |
| Other | 273,954.08 | 3,526,393.60 | 273,954.08 |
| Total | 2,468,650.99 | 4,861,760.61 | 2,468,650.99 |
15.Incometaxexpenses
| Item | CurrentYear | LastYear |
| Currentincometax | 47,092,203.88 | 41,949,054.19 |
| DeferredincomeTax | 33,589,651.11 | 10,265,790.57 |
| Total | 80,681,854.99 | 52,214,844.76 |
16.OthercomprehensiveincomeFoundmorein44.OthercomprehensiveincomeinV(1)(III).Itemsofcashflowstatement
(1)Cashrelatedtobusinessactivities
1)Cashreceivedfromotheractivitiesrelatingtooperation
| Item | CurrentYear | LastYear |
| Governmentsubsidyandrewards | 23,487,742.60 | 11,232,990.28 |
| Cashdeposit,deposit | 20,893,872.41 | 15,975,517.12 |
| Other | 20,473,713.52 | 13,233,043.23 |
| Total | 64,855,328.53 | 40,441,550.63 |
2)Cashpaidforotheractivitiesrelatingtooperation
| Item | CurrentYear | LastYear |
| Operatingoutofcashexpenses | 530,326,567.11 | 368,716,063.12 |
| Pettycash,deposit,Cashdeposit | 53,385,394.85 | 29,856,337.65 |
| Total | 583,711,961.96 | 398,572,400.77 |
(2)CashrelatedtoInvestmentactivities
1)Importantcashreceivedrelatedtoinvestmentactivities
| Item | CurrentPeriod | LastPeriod |
| Structuraldeposits | 10,195,000,000.00 | 1,300,000,000.00 |
| Total | 10,195,000,000.00 | 1,300,000,000.00 |
2)Importantcashpayablerelatedtoinvestmentactivities
| Item | CurrentPeriod | LastPeriod |
| Structuraldeposits | 12,325,000,000.00 | 2,380,000,000.00 |
| Largedepositcertificate | 650,000,000.00 | |
| Fixedcertificate | 550,000,000.00 | |
| Total | 12,325,000,000.00 | 3,580,000,000.00 |
3)Cashreceivedfromotheractivitiesrelatingtoinvestment
| Item | CurrentPeriod | LastPeriod |
| Interestincomearisingfrombanksavings | 76,719,151.31 | 99,908,440.75 |
AnnotationsofFinancialStatementsofChanghongMeilingCo.,Ltd.
From1January2025to30June2025(Unlessotherwisespecified,RMBforrecordintheStatement)
| Item | CurrentPeriod | LastPeriod |
| Cashdeposit | 7,074,091.67 | 794,951.65 |
| Incomeofforwardexchangesettlement | 53,485.32 | 1,436,020.07 |
| Total | 83,846,728.30 | 102,139,412.47 |
4)Cashpaidforotheractivitiesrelatingtoinvestment
| Item | CurrentPeriod | LastPeriod |
| Losesofforwardexchangesettlement | 90,873,145.66 | 7,111,935.45 |
| Pre-handinterestonlargecertificatesofdeposit | 6,567,929.99 | |
| Cashdeposit | 5,968,622.54 | |
| Capitalcollection | 9,411,326.50 | |
| Total | 103,409,698.19 | 16,523,261.95 |
(3)Cashrelatedtofinancingactivities
1)Cashreceivedfromotheractivitiesrelatingtofinancing
| Item | CurrentYear | LastYear |
| Billdiscountfinancingfunds | 531,629,478.66 | 1,155,206.59 |
| Recoverrestrictedfunds | 6,666,033.87 | 73,029,748.46 |
| Total | 538,295,512.53 | 74,184,955.05 |
2)Cashpaidforotheractivitiesrelatingtofinancing
| Item | CurrentPeriod | LastPeriod |
| Recoverrestrictedfunds | 219,948,063.36 | 58,914,165.67 |
| Billdiscountfinancingfunds | 18,977,201.19 | 15,883,841.10 |
| Leaseliabilityprincipalandinterest | 13,373,499.63 | 4,300,269.30 |
| Intermediaryservicefee | 9,810,310.42 | |
| Dividendservicecharge | 150,305.59 | 230,889.27 |
| Total | 262,259,380.19 | 79,329,165.34 |
4.Supplementaryofcashflowstatement
| Supplementary | CurrentPeriod | LastPeriod |
| 1.Netprofitisadjustedtocashflowofoperationactivities: | ||
| Netprofit | 429,442,724.43 | 425,885,574.25 |
| Add:provisionfordepreciationofassets | 18,477,052.07 | 2,393,554.97 |
| Creditimpairmentloss | 68,384,930.38 | -11,474,671.18 |
| Depreciationoffixedassets,consumptionofoilgasassetsanddepreciationofproductivebiologicalassets | 138,945,315.54 | 130,257,794.68 |
| Amortizationofintangibleassets | 82,303,366.91 | 73,229,465.55 |
| Amortizationoflong-termretainedexpense | 11,318,427.25 | 7,060,808.34 |
| Lossfromdisposaloffixedassets,intangibleassetsandotherlongtermassets(gainislistedwith“-”) | -108,659.65 | -36,334.95 |
| Lossfromdiscardingfixedassetsasuseless(gainislistedwith“-”) | 1,815,264.83 | 1,317,077.20 |
| Lossfromchangeoffairvalue(gainislistedwith“-”) | -82,283,850.82 | 42,719,405.68 |
| Financialexpense(gainislistedwith“-”) | -4,666,488.13 | -94,127,185.07 |
| Investmentloss(gainislistedwith“-”) | 1,925,678.15 | -2,933,725.87 |
| Decreaseofdeferredincometaxassets(increaseislistedwith“-”) | 30,597,079.24 | 3,048,274.12 |
| Increaseofdeferredincometaxliabilities(decreaseislistedwith“-”) | 2,992,571.87 | 7,217,516.45 |
| Decreaseofinventories(increaseislistedwith“-”) | -433,858,750.05 | -1,549,851,524.05 |
| Decreaseofoperationalaccountsreceivable(increaseislistedwith“-”) | -1,897,314,757.74 | -452,052,568.91 |
| Increaseofoperationalaccountsreceivable(decreaseislistedwith“-”) | 2,992,603,757.43 | 4,151,749,232.82 |
| Other |
| Supplementary | CurrentPeriod | LastPeriod |
| Netcashflowarisingfromoperationactivities | 1,360,573,661.71 | 2,734,402,694.03 |
| 2.Majorinvestmentandfinancingactivitiesthatdonotinvolvecashreceipts: | ||
| Conversionofdebtintocapital | ||
| SwitchingCompanybondsduewithinoneyear | ||
| Newrighttouseassets | ||
| 3.Netchangeincashandcashequivalents: | ||
| Balanceatperiod-endofcash | 8,750,601,098.76 | 8,613,130,318.80 |
| Less:Openingbalanceofcash | 9,976,098,734.11 | 8,391,177,936.62 |
| Add:Balanceatperiod-endofcashequivalents | ||
| Less:Openingbalanceofcashequivalents | ||
| Netincreaseincashandcashequivalents | -1,225,497,635.35 | 221,952,382.18 |
5.Cashandcashequivalent
(1)Detail
| Item | Endingbalance | Beginningbalance |
| 10Cash | 8,750,601,098.76 | 9,976,098,734.11 |
| Including:cashinstock | 23,466.68 | 19,623.13 |
| Bankdepositsavailableforpaymentatanytime. | 8,749,533,210.25 | 9,974,662,103.93 |
| Othermonetaryfundavailableforpaymentatanytime | 1,044,421.83 | 1,417,007.05 |
| 2)Cashequivalents | ||
| Including:bondinvestmentduewithin3months | ||
| 3)Balanceofcashandcashequivalentsat | 8,750,601,098.76 | 9,976,098,734.11 |
| Item | Endingbalance | Beginningbalance |
| year-end |
(2)Monetaryfundsthatarenotcashandcashequivalents
| Item | Thisperiod'samount | Lastperiod'samount | Reasonsotherthancashandcashequivalents |
| Guaranteeandacceptancebilldeposit | 717,480,487.34 | 504,942,490.94 | Limiteduse |
| Judicialfreezingoffundsduetocontractdisputes | 6,482,192.22 | 5,738,159.13 | Limiteduse |
| Interestreceivable | 6,415,291.47 | 5,671,366.43 | Interestaccrual |
| Subtotal | 730,377,971.03 | 516,352,016.50 |
6.Changesinliabilitiesarisingfromfund-raisingactivities
| Item | Amountatyear-begin | Increasethisyear | Decreaseintheyear | Amountatyearend | ||
| Cashchanges | Noncashchanges | Cashchanges | Noncashchanges | |||
| Short-termloans | 766,747,286.01 | 2,031,143,747.01 | 9,189,617.40 | 1,545,530,862.11 | 1,261,549,788.31 | |
| Long-termloans（Includinglong-termloansduewithinoneyear） | 9,844,660.00 | 397,995.98 | 648,005.98 | 9,594,650.00 | ||
| Leaseliabilities（IncludingLeaseliabilitiesduewithin1year） | 121,116,910.59 | 84,681,368.03 | 12,460,579.66 | 23,613,727.45 | 169,723,971.51 | |
| Subtotal | 897,708,856.60 | 2,031,143,747.01 | 94,268,981.41 | 1,558,639,447.75 | 23,613,727.45 | 1,440,868,409.82 |
7.Statementofcashflowinnetamount
| Item | Relevantfacts | Basisforadoptingnetpresentation | Financialimpact |
| Forwardforeignexchangedelivery | Asalegalentity,theCompanyreportsthegainsorlossesofforeignexchangecontractdeliverytothereceiptofothercashrelatedtoinvestmentactivitiesandthepaymentofothercashrelatedtoinvestmentactivities | Thereportedinformationismoreintuitive | N/A |
| Restrictedfunds | Asalegalentity,theCompanyreportsthecurrentyear'schangeofrestrictedfundsto | Rollingreflection | N/A |
AnnotationsofFinancialStatementsofChanghongMeilingCo.,Ltd.
From1January2025to30June2025(Unlessotherwisespecified,RMBforrecordintheStatement)
| Item | Relevantfacts | Basisforadoptingnetpresentation | Financialimpact |
| thereceiptofothercashrelatedtofund-raisingactivitiesandthepaymentofothercashrelatedtofund-raisingactivities | |||
| Meiling(internal)notesdiscountfund-raisingamount | Asalegalentity,theCompanyreclassifiesthecurrentyear'schangeinMeiling(internal)notesdiscountundue,fromcashreceivedfromsalesofgoods,serviceprovision/cashpaidfrompurchaseofgoods,andreceiptofservicestootherreceivedcashrelatedtofund-raisingactivities/otherpaidcashrelatedtofund-raisingactivities | Rollingreflection | N/A |
8.Itdoesnotinvolvethecurrentcashreceiptsandpayments,butaffectsthefinancialsituationoftheenterpriseormayaffectthecashflowoftheenterpriseinthefutureNone
(4)Other
1.Foreigncurrency
(1)Detail
| Item | Endingforeigncurrencybalance | Exchangerate | EndingRMBconvertedbalance |
| Monetaryfund | 191,736,804.70 | ||
| Including:USD | 11,987,682.34 | 7.1586 | 85,815,022.82 |
| Euro | 6,362,764.93 | 8.4024 | 53,462,496.05 |
| PKR | 1,272,235,495.00 | 0.0252 | 32,060,334.47 |
| IDR | 24,364,214,374.00 | 0.000442 | 10,768,982.75 |
| AUD | 1,281,281.31 | 4.6817 | 5,998,574.71 |
| PHP | 28,525,891.63 | 0.1267 | 3,614,230.47 |
| Item | Endingforeigncurrencybalance | Exchangerate | EndingRMBconvertedbalance |
| Won | 3,261,150.00 | 0.005263 | 17,163.43 |
| Accountreceivable | 1,847,018,894.59 | ||
| Including:USD | 211,912,844.35 | 7.1586 | 1,516,999,287.56 |
| Euro | 13,772,009.58 | 8.4024 | 115,717,933.29 |
| PKR | 441,777,835.00 | 0.0252 | 11,132,801.44 |
| IDR | 122,017,182,286.39 | 0.000442 | 53,931,594.57 |
| AUD | 20,699,275.68 | 4.6817 | 96,907,798.95 |
| PHP | 269,451,951.27 | 0.1267 | 34,139,562.23 |
| Won | 3,456,187,831.00 | 0.005263 | 18,189,916.55 |
| Otheraccountreceivable | 1,794,618.20 | ||
| Including:USD | 183,173.00 | 7.1586 | 1,311,262.24 |
| PKR | 3,864,785.09 | 0.0252 | 97,392.58 |
| IDR | 447,058,839.00 | 0.000442 | 197,600.01 |
| PHP | 1,486,688.00 | 0.1267 | 188,363.37 |
| Accountpayable | 102,947,541.86 | ||
| Including:USD | 684,596.12 | 7.1586 | 4,900,749.78 |
| PKR | 874,943,912.48 | 0.0252 | 22,048,586.59 |
| IDR | 116,804,423,691.00 | 0.000442 | 51,627,555.27 |
| PHP | 192,349,251.94 | 0.1267 | 24,370,650.22 |
| Otheraccountpayable | 15,607,626.94 | ||
| Including:PKR | 281,379,857.52 | 0.0252 | 7,090,772.41 |
| IDR | 17,293,054,602.00 | 0.000442 | 7,643,530.13 |
| PHP | 6,892,852.38 | 0.1267 | 873,324.40 |
(2)Descriptionofoverseasbusinessentities
| Nameofoverseascompany | Mainplaceofbusiness | Recordingcurrency | Whethertherecordingcurrencychanges | Reasonofchange |
| CH-Meiling.International(Philippines)Inc. | Philippines | Philippinepeso | No | |
| ChanghongRubaElectricCompany(Private)Ltd. | Lahore,Pakistan | PKR | No | |
| CHANGHONGMEILINGELECTRICINDONESIA,PT | Indonesia | IDR | No |
2.Lease
（1）TheCompanyaslessee
1)PleaserefertoNoteV(I)18tothefinancialstatementsfordetailsabouttheright-to-useassets.
2)Theamountofleaseexpensesincludedinthecurrentprofitsandlossesisasfollows:
| Item | Currentamount | Amountofthesameperiodlastyear |
| Interestexpenseofleaseliabilities | 2,570,683.48 | 1,313,056.18 |
| Short-termleaseexpenseswithsimplifiedtreatmentincludedincurrentprofitsandlosses | 3,106,367.56 | 5,717,191.23 |
TheCompany'saccountingpoliciesforshort-termleaseandlow-valueassetleasearedetailedinNoteIII(XXXIII)tothefinancialstatements.
3)ThetotalcashoutflowrelatedtoleaseisRMB15,497,345.83.
4)Fordetailsofthematurityanalysisofleaseliabilitiesandthecorrespondingliquidityriskmanagement,pleaserefertothedescriptionofNoteX(I)3tothefinancialstatements
（2）TheCompanyaslessor
1）OperatingleaseoftheCompanyaslessor
| Item | Currentamount | Amountofthesameperiodlastyear |
| Leaseincome | 20,395,120.02 | 21,030,158.64 |
Fordetailsofoperatingleased-outfixedassets,pleaserefertoNoteV(I)16ofthefinancial
statements.
2)FinancialleaseTheCompanyhasnofinancialleaseasalessor
3)TheCompanydoesnotrecognizetheprofitandlossoffinancialleasesalesasamanufacturerordistributor.
3.Supplierfinancingarrangement
(1)Termsandconditionsofsupplierfinancingarrangements
| Typesofsupplierfinancingarrangement | Termsandconditions |
| Financingbusiness | ThesupplierhandlesthefinancingbusinesswithYuanxinFinancialLeasingCo.,Ltd.accordingtothebillsissuedbytheCompany,discountstherelevantbillsandshortensthepaymentperiod |
(2)Liabilitiesrelatedtosupplierfinancingarrangements
1)Bookvalueofrelatedliabilities
| Item | Endingamount | Openingamount |
| Accountpayable | 288,420,247.69 | 185,567,424.38 |
| Inwhich:thesupplierhasreceivedthepayment | 288,420,247.69 | 185,567,424.38 |
| Subtotal | 288,420,247.69 | 185,567,424.38 |
2)Maturitydaterangeforrelatedliabilities
| Item | Maturitydaterangeoffinalpayment |
| Liabilitiesbelongingtofinancingarrangements | 1-6monthsaftertheinvoiceisissued |
VI.R&Dexpenditure
1)R&Dexpenditure
| Item | Amountincurredthisperiod | Amountincurredlastperiod |
| Salary,socialsecurity,etc | 140,549,570.95 | 124,747,100.15 |
| Amortizationofintangibleassets | 71,539,912.48 | 62,574,483.08 |
| Costofmould | 84,262,371.24 | 76,827,153.20 |
| Item | Amountincurredthisperiod | Amountincurredlastperiod |
| R&Dandtrialproductioncosts | 50,013,777.16 | 41,544,966.98 |
| Technologicaldevelopmentexpense | 49,772,614.99 | 32,815,454.32 |
| Depreciationexpense | 11,441,551.99 | 10,817,365.05 |
| Inspectionandcertificationfees | 9,485,660.53 | 9,214,086.26 |
| Domestictravelexpenses | 2,000,477.20 | 2,786,185.99 |
| Otherexpenses | 25,048,060.20 | 16,628,549.03 |
| Total | 444,113,996.74 | 377,955,344.06 |
| Amongthem:ExpensedR&Dexpenses | 324,890,915.17 | 287,601,598.28 |
| CapitalizedR&Dexpenditure | 119,223,081.57 | 90,353,745.78 |
2)Developmentexpenses
| Item | Beginningbalance | Increasedamountthisyear | Decreasedamountthisyear | Endingbalance | |||
| Internaldevelopmentexpenditure | Otherincrease | Recognizedasintangibleassets | Transfertocurrentprofitsandlosses | Other | |||
| Developmentofairconditioningtechnology | 35,786,399.85 | 86,102,507.43 | 69,760,075.54 | 52,128,831.74 | |||
| Developmentoficewashingtechnology | 38,924,294.89 | 33,120,574.14 | 16,374,099.02 | 55,670,770.01 | |||
| Total | 74,710,694.74 | 119,223,081.57 | 86,134,174.56 | 107,799,601.75 | |||
1.ImportantcapitalizedR&Dprojects
| Items | R&Dprogress | Estimatedcompletiontime | Expectedeconomicbenefitsaregenerated | Thepointatwhichcapitalizationbegins | Thespecificbasisforstartingcapitalization |
| Airconditioningtechnologydevelopmentproject | Indevelopment | December2025 | Productsales | January2026 | R&Dprojectcapitalizationreport |
VII.Changesofconsolidationrage
（1）.Enterprisecombinedarenotunderthesamecontrol
1)Businessmergerunderthesamecontrolinthisperiod:N/A
(2)Changesinthescopeofmergerduetootherreasons
1.Increaseinthescopeofmerger
| Nameofcompany | Modeofequityacquisition | Timeofequityacquisition | Amountofcapitalcontribution(RMB'0,000) | Ratioofcontribution(%) |
| MianyangChanghongIntelligentApplianceCo.,Ltd. | New | March31,2025 | 50,000.00 | 100.00 |
VIII.Equityinotherentity
(1)Compositionoftheenterprisegroup
1.TheCompanyincluded25subsidiariesincludingZhongkeMeilingCryogenicsTechnologyCo.,Ltd.,SichuanChanghongAirConditioningCo.,Ltd.andZhongshanChanghongElectricCo.,Ltd.intothescopeofconsolidatedfinancialstatements.
2.Basicinformationofsubsidiaries
| Subsidiary | Registeredcapital(RMB0'000) | Mainofficeplace | Businessnature | Shareholdingratio（%) | Acquireby | |
| Directly | Indirectly | |||||
| JiangxiMeilingElectricApplianceCo.,Ltd | 5,000.00 | Jingdezhen | Manufacturingandsales | 98.75 | 1.25 | Investmentestablishment |
| MianyangMeilingRefrigerationCo.,Ltd. | 10,000.00 | Mianyang | Manufacturingandsales | 95.00 | 5.00 | Investmentestablishme |
| Subsidiary | Registeredcapital(RMB0'000) | Mainofficeplace | Businessnature | Shareholdingratio（%) | Acquireby | |
| Directly | Indirectly | |||||
| nt | ||||||
| ZhongkeMeilingCryogenicTechnologyCo.,Ltd | 9,673.09 | Hefei | Manufacturingandsales | 47.4512 | Investmentestablishment | |
| AnhuiTuoxingTechnologyCo.,Ltd. | 1,000.00 | Hefei | Technologyresearchanddevelopment | 47.4512 | Investmentestablishment | |
| AnhuiLing'anMedicalEquipmentCo.,Ltd | 5,000.00 | Lu'an | Manufacturingandsales | 47.4512 | Investmentestablishment | |
| SichuanChanghongAir-conditionerCo.,Ltd | 85,000.00 | Mianyang | Manufacturingandsales | 100.00 | Enterprisecombinedunderthesamecontrol | |
| GroundEnergyHeatPumpTech.(Zhongshan)Co.,Ltd. | 5,000.00 | Mianyang | Manufacturingandsales | 85.00 | Investmentestablishment | |
| GroundEnergyHeatPumpTech.(Zhongshan)Co.,Ltd. | 4,500.00 | Zhongshan | Manufacturingandsales | 85.00 | Investmentestablishment | |
| SichuanChanghongAir-conditionerCo.,Ltd | 10,000.00 | Mianyang | Manufacturingandsales | 100.00 | Investmentestablishment | |
| ZhongshanChanghongElectricCo.,Ltd | 33,400.00 | Zhongshan | Manufacturingandsales | 90.00 | 10.00 | Enterprisecombinedunderthesame |
| Subsidiary | Registeredcapital(RMB0'000) | Mainofficeplace | Businessnature | Shareholdingratio（%) | Acquireby | |
| Directly | Indirectly | |||||
| control | ||||||
| ChanghongRubaTradingCompany(Private)Limited | 8,308.98 | Pakistan | Sales | 60.00 | Investmentestablishment | |
| ChanghongMeilingElectricIndonesia,PT | 4,027.20 | Jakapta | Sales | 100.00 | Investmentestablishment | |
| GuangzhouChanghongTradingCo.,Ltd. | 100.00 | Guangzhou | Sales | 100.00 | Investmentestablishment | |
| ChanghongMeilingRidianTechnologyCo.,Ltd | 8,300.00 | Zhongshan | Manufacturingandsales | 99.0361 | Enterprisecombinedunderthesamecontrol | |
| HebeiHongmaoDailyApplianceTechnologyCo.,Ltd. | 500.00 | Handan | Manufacturingandsales | 99.0361 | Investmentestablishment | |
| HefeiMeilingGroupHoldingsLimited | 8,000.00 | Hefei | Sales | 100.00 | Enterprisecombinednotunderthesamecontrol | |
| HefeiMeilingNonferrousMetalProductsCo.,Ltd. | 2,428.68 | Hefei | Manufacturingandsales | 100.00 | Enterprisecombinednotunderthesamecontrol | |
| Subsidiary | Registeredcapital(RMB0'000) | Mainofficeplace | Businessnature | Shareholdingratio（%) | Acquireby | |
| Directly | Indirectly | |||||
| MeilingEquatorHouseholdAppliance(Hefei)Co.,Ltd. | 2,479.31 | Hefei | Manufacturingandsales | 100.00 | Enterprisecombinednotunderthesamecontrol | |
| HefeiEquatorApplianceCo.,Ltd | 1,200.00 | Hefei | Manufacturingandsales | 100.00 | Enterprisecombinednotunderthesamecontrol | |
| HefeiMeilingWulianTechnologyCo.,Ltd | 1,000.00 | Hefei | Softwaredevelopment | 100.00 | Investmentestablishment | |
| CH-MeilingInternational(Philippines)Inc. | 688.91 | Philippines | Sales | 100.00 | Investmentestablishment | |
| HefeiChanghongMeilingLifeAppliancesCo.,Ltd. | 5,000.00 | Hefei | Sales | 70.00 | Investmentestablishment | |
| SichuanHongmeiIntelligentTechnologyCo.,Ltd. | 500.00 | Mianyang | Softwaredevelopment | 100.00 | Investmentestablishment | |
| HefeiChanghongIndustryCo.,Ltd. | 10,000.00 | Hefei | Manufacturingandsales | 99.00 | 1.00 | Enterprisecombinedunderthesamecontrol |
| MianyangChanghongIntelligentApplianceCo.,Ltd | 50,000.00 | Mianyang | Manufacturingandsales | 99.00 | 1.00 | Investmentestablishme |
| Subsidiary | Registeredcapital(RMB0'000) | Mainofficeplace | Businessnature | Shareholdingratio（%) | Acquireby | |
| Directly | Indirectly | |||||
| nt | ||||||
3.Othernote
(1)Basisforholdinghalforlessvotingrightsbutstillcontrollingtheinvestee,andholdingmorethanhalfvotingrightsbutnotcontrollingtheinvesteeTheCompanyholds47.4512%equityofZhongkeMeilingandisitslargestshareholder.Inadditiontoindependentdirectors,theBoardofDirectorsofZhongkeMeilingcomprisesatotalofthreemembers,ofwhichChairmanWuDinggangjustservesasthechairmanofthecontrollingshareholderChanghongMeiling,andDirectorTangYoudaoservesasvicepresident(actingpresident)ofChanghongMeiling,whichcontrolsthedailyoperationofZhongkeMeiling.
(2)Majornon-wholly-ownedsubsidiary
1.Detail
| Subsidiary | Shareholdingratioofminority | Gains/lossesattributabletominorityinCurrentPeriod | DividenddistributedtominorityannouncedinCurrentPeriod | Balanceofminority’sinterestatperiod-end |
| ZhongkeMeiling | 52.5488% | 5,804,446.44 | 4,066,474.72 | 323,200,512.27 |
| GroundEnergy | 15.00% | 1,103,149.27 | 12,241,992.74 | |
| RidianTechnology | 0.9639% | -18,591.54 | 1,169,111.53 | |
| ChangmeiLifeAppliances | 30.00% | 4,756,217.83 | 58,519,188.86 |
2.Financialinformationformajornon-wholly-ownedsubsidiary
(1)AssetandLiabilities
| Subsidiary | Endingbalance | |||||
| Currentassets | Non-currentassets | Totalassets | Currentliability | Non-currentliability | Totalliabilities | |
| Zhongke | 608,497,346.23 | 122,372,260.56 | 730,869,606.79 | 106,781,686.57 | 7,940,412.85 | 114,722,099.42 |
| Subsidiary | Endingbalance | |||||
| Currentassets | Non-currentassets | Totalassets | Currentliability | Non-currentliability | Totalliabilities | |
| Meiling | ||||||
| GroundEnergy | 1,187,102,690.07 | 187,758,954.09 | 1,374,861,644.16 | 1,173,838,271.94 | 119,566,215.17 | 1,293,404,487.11 |
| RidianTechnology | 178,514,086.93 | 34,667,666.80 | 213,181,753.73 | 90,774,909.22 | 196,396.27 | 90,971,305.49 |
| ChangmeiLifeAppliances | 661,266,427.36 | 64,564,442.49 | 725,830,869.85 | 530,766,906.99 | 530,766,906.99 | |
（Continued）
| Subsidiary | Beginningbalance | |||||
| Currentassets | Non-currentassets | Totalassets | Currentliability | Non-currentliability | Totalliabilities | |
| ZhongkeMeiling | 616,938,129.16 | 128,338,295.37 | 745,276,424.53 | 125,597,564.66 | 7,937,753.69 | 133,535,318.35 |
| GroundEnergy | 659,779,005.79 | 119,097,321.45 | 778,876,327.24 | 634,669,777.13 | 69,947,593.70 | 704,617,370.83 |
| RidianTechnology | 203,569,313.35 | 35,669,577.14 | 239,238,890.49 | 114,766,806.02 | 946,297.67 | 115,713,103.69 |
| ChangmeiLifeAppliances | 626,279,605.77 | 53,468,923.29 | 679,748,529.06 | 497,055,436.73 | 3,483,188.91 | 500,538,625.64 |
(2)Profitandlossandcashflowsituation
| Subsidiary | CurrentPeriod | |||
| Operationincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | |
| ZhongkeMeiling | 150,225,865.88 | 11,045,823.50 | 11,045,823.50 | -8,830,239.19 |
| GroundEnergy | 1,018,110,817.00 | 7,354,328.47 | 7,354,328.47 | 86,150,681.09 |
| Subsidiary | CurrentPeriod | |||
| Operationincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | |
| RidianTechnology | 29,814,643.96 | -1,928,871.31 | -1,928,871.31 | -10,655,245.61 |
| ChangmeiLifeAppliances | 664,973,555.44 | 15,854,059.44 | 15,854,059.44 | 60,807,851.33 |
（Continued）
| Subsidiary | LastPeriod | |||
| Operationincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | |
| ZhongkeMeiling | 147,052,294.25 | 10,426,784.69 | 10,426,784.69 | 2,863,688.61 |
| GroundEnergy | 861,624,361.40 | -4,658,800.38 | -4,658,800.38 | -74,764,271.86 |
| RidianTechnology | 68,792,446.53 | 677,890.37 | 677,890.37 | 6,073,100.72 |
| ChangmeiLifeAppliances | 680,109,991.85 | 13,774,801.74 | 13,774,801.74 | 80,971,196.73 |
3.Equityinjointventureorassociateenterprise
(1)Majorjointventureorassociateenterprise
| Jointventureorassociateenterprise | Mainofficeplace | Registerplace | Businessnature | Shareholdingratio（%) | Accountingtreatmentforinvestmentofjointventureorassociateenterprise | |
| Directly | Indirectly | |||||
| SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | Mianyang | Mianyang | Sales | 50.00 | Equity | |
(2)FinancialinformationformajorJointventure:
| Item | SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | |
| Balanceatyear-end/CurrentYear | Balanceatyear-begin/LastYear | |
| Currentassets | 1,995,399,228.77 | 2,007,299,998.18 |
| Non-currentassets | 16,158,938.06 | 20,768,579.44 |
| Item | SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | |
| Balanceatyear-end/CurrentYear | Balanceatyear-begin/LastYear | |
| Totalassets | 2,011,558,166.83 | 2,028,068,577.62 |
| Currentliability | 1,880,299,468.96 | 1,902,969,573.01 |
| Non-currentliability | 4,229,494.79 | 6,391,421.04 |
| Totalliabilities | 1,884,528,963.75 | 1,909,360,994.05 |
| Minority'sinterest | ||
| Equityattributabletoshareholderofparentcompany | 127,029,203.08 | 118,707,583.57 |
| Shareofnetassetsmeasuredbyshareholding | 63,514,601.54 | 59,353,791.79 |
| Adjustment | 821,877.28 | 821,877.28 |
| --Goodwill | 821,877.28 | 821,877.28 |
| Bookvalueoftheequityinvestmentforassociateenterprise | 64,336,478.82 | 60,175,669.07 |
| Fairvalueofequityinvestmentfortheaffiliateswithconsiderationpublicly | ||
| Operationincome | 464,294,084.46 | 259,097,941.96 |
| Netprofit | 9,671,201.40 | 11,846,311.80 |
| Netprofitfromtheterminationofthebusinessoperations | ||
| Othercomprehensiveincome | ||
| Totalcomprehensiveincome | 9,671,201.40 | 11,846,311.80 |
| DividendreceivedfromassociateenterpriseinCurrentYear | 12,524,542.65 | 5,097,740.91 |
3.Financialsummaryfornon-importantJointventureandassociateenterprise
| Item | Balanceatyear-end/CurrentYear | Balanceatyear-begin/LastYear |
| Associatedcompanies： |
| Item | Balanceatyear-end/CurrentYear | Balanceatyear-begin/LastYear |
| Totalbookvalueofinvestment | 20,378,775.08 | 21,335,477.75 |
| Totalamountmeasuredbyshareholdingratio | ||
| --Netprofit | -465,815.53 | -656,570.61 |
| --Othercomprehensiveincome | 225,357.00 | -1,267,004.52 |
| --Totalcomprehensiveincome | -240,458.52 | -1,923,575.13 |
4.ExcesslossoccurredinjointventureoraffiliatesHefeiMeilingSolarEnergyTechnologyCo.,LtdandChanghongRubaElectricCompany(Private)Ltdhavelossesabovethequota.IX.Governmentsubsidies
(I)Newgovernmentsubsidiesinthisperiod
| Item | Newsubsidyamountinthisperiod |
| Governmentsubsidiesrelatedtoassets | 2,727,513.27 |
| Ofwhich:includedindeferredincome | 2,727,513.27 |
| Governmentsubsidiesrelatedtoincome | 23,423,527.95 |
| Inwhich:includedinotherincome | 23,423,527.95 |
| Total | 26,151,041.22 |
(2)Liabilitiesinvolvinggovernmentsubsidies
| Accountingsubject | Beginningbalance | Newsubsidyamountthisyear | Amounttransferredtootherincomethisyear | Amountincludedinnon-operatingincomethisyear |
| Deferredincome | 125,435,177.90 | 2,727,513.27 | 14,302,083.84 | |
| Subtotal | 125,435,177.90 | 2,727,513.27 | 14,302,083.84 |
（Continued）
| Itemspresentedinfinancialstatements | Amountofcostoffsetinthisperiod | Amountofassetswrittenoffinthisperiod | Otherchanges | Endingamount | Assets/income-related |
| Deferredincome | 113,860,607.33 | Asset-related | |||
| Subtotal | 113,860,607.33 |
(3)Amountofgovernmentsubsidiesincludedinthecurrentprofitsandlosses
| Accountingsubject | Amountincurredthisperiod | Amountincurredlastperiod |
| Otherincome | 37,697,020.59 | 30,045,593.11 |
| Total | 37,697,020.59 | 30,045,593.11 |
(4)Governmentsubsidiesreturnedinthisperiod
| Item | Returnedamount | Returnreason |
| Returnthesoftwareenterpriseincometostepupthereward | 200,000.00 | Theauditdoesnotmeettherequirements |
| Total | 200,000.00 |
X.RelevantrisksrelatedwithfinancialinstrumentThemajorfinancialinstrumentsoftheCompanyincludeborrowings,accountreceivables,accountpayable,Tradingfinancialassets,Tradingfinancialliability,thedetailsofwhicharesetoutinNoteV.Risksrelatedtothesefinancialinstrumentsincludeexchangerisksandinterestraterisks.ThemanagementoftheCompanycontrolsandmonitorstheriskexposurestoensuretheaboverisksareundercontrol.
1.VariousriskmanagementobjectivesandpoliciesTheCompany'sgoalinriskmanagementistostrikeaproperbalancebetweenrisksandbenefits,reducethenegativeimpactofrisksontheCompany'soperatingperformancetothelowestlevel,andmaximizetheinterestsofshareholdersandotherequityinvestors.Basedonthisriskmanagementgoal,thebasicstrategyoftheCompany'sriskmanagementistoidentifyandanalyzeallkindsofrisksfacedbytheCompany,establishanappropriaterisktolerancebottomlineandconductriskmanagement,andtimelyandreliablysuperviseallkindsofriskstocontroltheriskswithinalimitedrange.
(1)Marketrisk
1)ExchangerateriskTheCompanypayscloseattentiontotheimpactofexchangeratechangesontheCompany.TheCompanyattachesgreatimportancetothestudyofexchangerateriskmanagementpoliciesandstrategies.Inordertoavoidtheexchangerateriskofforeigncurrencypaymentandforeigncurrencycollectionandsettlementincome,theCompanyhassignedseveralforwardforeignexchangecontractswithbanks.ThefairvalueofforwardforeignexchangecontractsrecognizedasderivativefinancialinstrumentsonJune30,2025isRMB-8,995,282.26.Changesinthefairvalueofderivativefinancialinstrumentshavebeenincludedintheprofitandloss,andtherelevantcontentsof"V.2(9)Incomefromchangesinfairvalue"inthisnote.Inthemeantime,withtheconstantchangeintheshareoftheinternationalmarket,iftherearerisksbeyondthecontroloftheCompany,suchasunilaterallargechangesintheRMBexchangerate,theCompanywillreducetherisksbyadjustingthesalesorpurchasingstrategies.
2)InterestrateriskTheCompany'sinterestrateriskarisesfrombankloansandinterest-bearingdebts.FinancialliabilitieswithfloatinginterestrateexposetheCompanytocashflowinterestraterisk,whilefinancialliabilitieswithfixedinterestrateexposetheCompanytofairvalueinterestraterisk.TheCompanydecidestherelativeproportionoffixedinterestrateandfloatinginterestratecontractsaccordingtothemarketenvironmentatthattime.OnJune30,2025,theCompany'sinterest-bearingdebtsweremainlythefixed-rateloancontractsdenominatedinRMB,withatotalamountofRMB1,271,144,438.31.TheCompany'sriskofchangesinthefairvalueoffinancialinstrumentsduetochangesininterestratesismainlyrelatedtofixed-ratebankloans.TheCompany'sriskofcashflowchangesoffinancialinstrumentscausedbyinterestratechangesismainlyrelatedtofloatinginterestratebankloans.TheCompanypayscloseattentiontotheimpactofthispartofinterestratechangesontheCompanyandattachesimportancetothestudyofinterestrateriskmanagementpoliciesandstrategies.
(2)CreditriskOnJune30,2025,thebiggestcreditriskexposurethatmaycausethefinanciallossoftheCompanymainlycomesfromthelossoftheCompany'sfinancialassetscausedbythefailureoftheotherpartytothecontractandthefinancialguaranteeundertakenbytheCompany,including:
thebookamountofthefinancialassetsrecognizedintheconsolidatedbalancesheet;Forfinancialinstrumentsmeasuredatfairvalue,thebookvaluereflectstheirriskexposure,butnotthemaximumriskexposure,anditsmaximumriskexposurewillchangewiththechangeoffairvalue
inthefuture.Inordertoreducethecreditrisk,theCompanysetupaspecialdepartmenttodeterminethecreditline,conductcreditapproval,andimplementothermonitoringprocedurestoensurethatnecessarymeasuresaretakentorecoveroverduecreditor'srights.Meanwhile,theCompanytriestoreducetheimpactofcreditdefaultofcreditor'srightsbypurchasingcreditinsurance.Inaddition,theCompanyreviewstherecoveryofeachsinglereceivableoneachbalancesheetdatetoensurethatsufficientbaddebtprovisionismadeforunrecoverablefunds.Therefore,themanagementoftheCompanybelievesthatthecreditriskassumedbytheCompanyhasbeengreatlyreduced.TheCompany'sworkingcapitalisdepositedinthefinancecompany,sothecreditriskofworkingcapitalislow.TheCompanyhasadoptednecessarypoliciestoensurethatallsalescustomershavegoodcreditrecords.ThetotalamountofthetopfiveaccountsreceivableisRMB1,645,880,093.00,accountingfor42.11%oftheaccountsreceivableattheendoftheyear,whichisdependentonmajorcustomers.Exceptforthetopfiveaccountsreceivable,theCompanyhasnoothermajorcreditrisks.
(3)LiquidityriskLiquidityriskistheriskthattheCompanycannotfulfillitsfinancialobligationsontheduedate.TheCompany'smethodofmanagingliquidityriskistoensurethatthereisenoughfinancialliquiditytofulfilltheduedebtsthroughcapitalplanmanagement,withoutcausingunacceptablelossesordamagingthereputationofthecompany.Accordingtotherequirementsofthecapitalplancycle,theCompanymakesacapitalplaninadvancetoensurethatthereissufficientcapitalwhenthedebtisdue.ThemanagementoftheCompanymonitorstheuseofbankloansandensurescompliancewiththeloanagreement.Inthemeantime,itconductsfinancingnegotiationswithfinancialinstitutionstomaintainacertaincreditlineandreduceliquidityrisk.
Financialliabilitiesareclassifiedbyremainingmaturitydate
| Item | Endingamount | ||||
| Bookvalue | Undiscountedcontractamount | Within1year | 1-3years | Over3years | |
| Bankloan | 1,271,144,438.31 | 1,277,906,973.36 | 1,277,906,973.36 | ||
| Derivativefinancialliabilities | 53,273,870.31 | 53,273,870.31 | 53,273,870.31 | ||
| Notespayable | 10,087,215,050.61 | 10,087,215,050.61 | 10,087,215,050.61 | ||
| Accountspayable | 7,301,249,173.74 | 7,301,249,173.74 | 7,301,249,173.74 | ||
| otherpayables | 1,090,144,405.75 | 1,090,144,405.75 | 1,090,144,405.75 | ||
| Item | Endingamount | ||||
| Bookvalue | Undiscountedcontractamount | Within1year | 1-3years | Over3years | |
| Leaseliabilities（Includingthepartduewithinoneyear） | 169,723,971.51 | 194,387,654.61 | 37,817,401.63 | 68,048,554.38 | 88,521,698.60 |
| Subtotal | 19,972,750,910.23 | 20,004,177,128.38 | 19,847,606,875.40 | 68,048,554.38 | 88,521,698.60 |
2.Hedging
(1)TheCompanycarriesouthedgingbusinessandriskmanagementTheCompanymainlyusesforwardforeignexchangecontractstohedgetheriskofexchangeratefluctuations.TheCompanydesignatesthepurchasedforwardforeignexchangecontractsashedginginstruments,treatstheminaccordancewiththehedgeaccountingmethod,andevaluatesthehedgeditemsofunconfirmedassetliabilityitemssuchasunrecognizedfixedcommitmentsatthebalancesheetdate.TheCompanyusestheratioanalysismethodtoevaluatetheeffectivenessofthehedge,andconsidersthatitishighlyeffective,andtheamountofhedgeinvalidityrecognizedinthecurrentperiodisnotmaterial.
| Item | Correspondingriskmanagementstrategiesandobjectives | Qualitativeandquantitativeinformationonhedgedrisk | Theeconomicrelationshipbetweenthehedgeditemandtherelatedhedginginstrument | Expectedeffectiveachievementofriskmanagementobjectives | Theimpactofthecorrespondinghedgingactivityontheriskexposure |
| Forwardforeignexchangecontracts | Aforeignexchangeriskpreventionstrategywithhedgingasthecoreandriskpreventionasthepurpose | Theextenttowhichchangesinthefairvalueofthehedginginstrumentcanoffsetthechangeinthefairvalueorcashflowsofthehedged | Forwardforeignexchangecontractsarehedginginstrumentsthatarelockedbasedontheforeignexchangeexposuregeneratedbythebusiness:foreignexchangeexposuresincludebookassetsandirrevocableorders.Irrevocableorders,which | Foreignexchangehedgingreferstotheriskmanagementactivityofdesignatingafinancialinstrumentasahedging | Accordingtothehedgeaccountingstandards,inordertoensuretheeffectivenessofhedging,thepremiseofexposure |
| Item | Correspondingriskmanagementstrategiesandobjectives | Qualitativeandquantitativeinformationonhedgedrisk | Theeconomicrelationshipbetweenthehedgeditemandtherelatedhedginginstrument | Expectedeffectiveachievementofriskmanagementobjectives | Theimpactofthecorrespondinghedgingactivityontheriskexposure |
| itemcausedbythehedgedrisk | aredefinedcommitmentsthathavenotyetbeenconfirmed;Notyetrecognized,whichmeansthatithasnotbeenrecognizedinthebalancesheet;Afirmcommitmentreferstotheexchangeofaspecificamountofresourcesatanagreedpriceandthesigningofalegallybindingagreementataspecificdateorperiodinthefuture | instrumentinordertomanagetheriskexposurearisingfromforeignexchangerisk,sothatthefairvalueorcashflowofthehedginginstrumentchangesinanticipationofoffsettingallorpartofthechangeinthefairvalueorcashflowofthehedgeditem | hedgingisthatthecurrencyisthesame,thedirectionisopposite,andtheexpecteddateofreceiptandpaymentofforeignexchangeissimilar |
(2)TheCompanyconductsqualifiedhedgingbusinessandapplieshedgeaccounting
| Item | Bookvaluerelatedtohedgeditemsandhedginginstruments | Hedgingadjustmentofaccumulatedfairvalueofhedgeditemsincludedinthebookvalueofhedgeditemsrecognized | Hedgingeffectivenessandsourceofpartwithinvalidhedging | ImpactofhedgingaccountingontheCompany'sfinancialstatements |
| Fairvaluehedging | ||||
| Item | Bookvaluerelatedtohedgeditemsandhedginginstruments | Hedgingadjustmentofaccumulatedfairvalueofhedgeditemsincludedinthebookvalueofhedgeditemsrecognized | Hedgingeffectivenessandsourceofpartwithinvalidhedging | ImpactofhedgingaccountingontheCompany'sfinancialstatements |
| Hedginginstruments-Tradingfinancialassets | 44,278,588.05 | Financialexpenses-Exchangelosses;Investmentincome;Changeofincomefairvalue | -18,163,955.33 | |
| Hedginginstruments-Tradingfinancialliabilities | 53,273,870.31 | |||
| hedgeditems-assets | 5,168,033,771.57 | |||
| hedgeditems-liabilities | 663,076,672.49 |
3.Transferoffinancialassets
(1)Classificationoftransfermodes
| Transfermode | Natureoftransferredfinancialassets | Amountoftransferredfinancialassets | Derecognizedornot | Judgmentbasisofderecognition |
| Notesendorsement/Notesdiscount | Receivablefinancing | 1,205,689,578.22 | Derecognized | Almostallitsrisksandrewardshavebeentransferred |
| Factoring | Accountsreceivable | 4,981,939,811.27 | Derecognized | Almostallitsrisksandrewardshavebeentransferred |
| Total | 6,187,629,389.49 |
(2)Financialassetsthatarederecognizedduetotransfer
| Item | Waysoffinancialassetstransfer | Amountoffinancialassetsderecognized | Gainsorlossesrelatedtoderecognition |
| Receivablefinancing | Notesendorsement/Notesdiscount | 1,205,689,578.22 | -4,195,035.39 |
| Accountsreceivable | Factoring | 4,981,939,811.27 | -19,083,480.76 |
| Total | 6,187,629,389.49 | -23,278,516.15 |
XI.Fairvaluedisclosure
1.AssetandliabilitymeasuredbyfairvalueatendofCurrentPeriodandfairvaluemeasurementlevel
| Items | Fairvalueatperiod-end | |||
| 1stlevel | 2ndlevel | 3rdlevel | Total | |
| Continuousfairvaluemeasurement | ||||
| (i)Tradingfinancialassets | 2,136,929,526.59 | 2,136,929,526.59 | ||
| (1)Principalandinterestofstructureddeposits | 2,136,929,526.59 | 2,136,929,526.59 | ||
| 2.Derivativefinancialassets | 44,278,588.05 | 44,278,588.05 | ||
| (1)Forwardforeignexchangecontracts | 44,278,588.05 | 44,278,588.05 | ||
| 3.Receivablesfinancing | 965,174,858.85 | 965,174,858.85 | ||
| 4.Othernon-currentfinancialassets | 98,822,145.61 | 575,251,286.83 | 674,073,432.44 | |
| Totalassetscontinuouslymeasuredatfairvalue | 44,278,588.05 | 2,235,751,672.20 | 1,540,426,145.68 | 3,820,456,405.93 |
| 5.Derivativefinancialliability | 53,273,870.31 | 53,273,870.31 | ||
| Items | Fairvalueatperiod-end | |||
| 1stlevel | 2ndlevel | 3rdlevel | Total | |
| (1)Forwardforeignexchangecontracts | 53,273,870.31 | 53,273,870.31 | ||
| Totalliabilitiescontinuouslymeasuredatfairvalue | 53,273,870.31 | 53,273,870.31 | ||
2.Thebasisfordeterminingthemarketpriceofcontinuousandnon-continuousfirst-levelfairvaluemeasurementitemsThecompany'sfairvaluemeasurementitemsarefuturescontractsandforeignexchangeoptions.Themarketpriceoffuturescontractsisdeterminedbasedontheclosingpriceofthefuturescontractattheendoftheperiod;themarketpriceofforeignexchangeoptionsisdeterminedbasedonthequotationofcontractproductsoftheforeignexchangeoptionsattheendoftheperiod.
3.Qualitativeandquantitativeinformationonthevaluationtechniquesusedandimportantparametersforcontinuousandnon-continuoussecond-levelfairvaluemeasurementitemsThefairvaluemeasurementitemsarelong-terminvestmentsinthefundcompany.Forlong-terminvestmentsinfundcompanies,theassessedbookvaluecanrepresentthebestestimateoffairvaluewithinthescope.
4.Qualitativeandquantitativeinformationonthevaluationtechniquesusedandimportantparametersforcontinuousandnon-continuousthird-levelfairvaluemeasurementitemsTheitemswithfairvaluemeasurementrefertotheinvestmentofSichuanChanghongGroupFinanceCo.,LtdandHuishangBankCo.,Ltd.Astheunlistedequityinstrument,thefairvalueareestimatedusingarangeofvaluationmodels,theassumptionsusedarenotsupportedbyobservablemarketpricesorinterestrates.Webelievesthatthefairvalueandtheirchangesestimatedbyvaluationtechniquesarereasonableandarethemostappropriatevaluesatthebalancesheetdate.
XII.Relatedpartiesandrelatedtransaction(i)Relationshipofrelatedparties
1.Controllingshareholderandultimatecontroller
SichuanChanghongElectronicsHoldingGroupisthecontrollingshareholderofSichuan
ChanghongElectricCo.,Ltd,andtheSASACMianyangofficeholds90%equityinterestsofSichuanChanghongElectronicHoldingGroup,whichmeansthatSASACMianyangofficeistheultimatecontrolleroftheCompany.
(2)Registercapitalandchangethereofofcontrollingshareholder
| Controllingshareholder | Beginningbalance | Increasethisperiod | Decreasethisperiod | Endingbalance |
| SichuanChanghongElectricCo.,Ltd. | 4,616,244,222.00 | 4,616,244,222.00 |
(3)Sharesheldbythecontrollingshareholderanditschangesonequity
| Controllingshareholder | Amountofsharesheld | Shareholdingratio | ||
| Endingbalance | Beginningbalance | Ratioatperiod-end | Ratioatperiod-beginning | |
| SichuanChanghongElectricCo.,Ltd. | 281,832,434.00 | 281,832,434.00 | 27.36% | 27.36% |
2.SubsidiaryFoundmoreinNote“VIII.(1)Enterprisegroupcomposition”
3.JointventureandassociatedenterpriseOtherJointventureandassociatedenterprisethathaverelatedtransactionsoccurredwiththeCompanyinCurrentPeriodoroccurredinlastperiod,andwithbalanceresults:
FordetailsoftheCompany'simportantjointventuresorjointventures,pleaserefertoNoteVIII(III)1:Relevantcontentsofimportantjointventuresorassociatedenterprise.OtherJointventureandassociatedenterprisethathaverelatedtransactionsoccurredwiththeCompanyinCurrentPeriodoroccurredinlastperiod,andwithbalanceresults:
| Controllingshareholderandultimatecontroller | Registrationplace | Businessnature | Registeredcapital | Share-holdingratiointheCompany | VotingrightsratiointheCompany |
| SichuanChanghongElectricCo.,Ltd. | Mianyang | Manufactureandsales | 4,616,244,222.00 | 27.36% | 27.36% |
AnnotationsofFinancialStatementsofChanghongMeilingCo.,Ltd.
From1January2025to30June2025(Unlessotherwisespecified,RMBforrecordintheStatement)
| Jointventureandassociatedenterprise | Relationshipwiththecompany |
| ChanghongRubaElectricCompany(Private)Ltd. | AssociatedenterpriseofsubsidiaryZhongshanChanghong |
| ChengduGuiguEnvironmentalTech.Co.,Ltd | AssociatedenterpriseofsubsidiaryChanghongAir-conditioner |
| SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | AssociatedenterpriseoftheCompany,hasthesamecontrollingshareholderandactualcontroloftheCompany |
4.Otherrelatedparty
| Otherrelatedparty | Relationshipwiththecompany |
| MianyangHailiApplianceCo.,Ltd. | Associatedenterpriseofcontrollingshareholder |
| SichuanHongyunNew-GenerationInformationtechnologyVentureCapitalFundPartnership(limitedpartnership) | Associatedenterpriseofcontrollingshareholder |
| SichuanHongranGreenEnergyCo.,Ltd. | Associatedenterpriseofcontrollingshareholder |
| SichuanChangxinRefrigerationPartsCo.,Ltd. | Associatedenterpriseofcontrollingshareholder |
| SichuanBaikuTechnologyCo.,Ltd | Associatedenterpriseofotherenterprisethathavethesamecontrollingshareholder |
| CHANGHONG(HK)TRADINGLIMITED | Controlbysamecontrollingshareholderandultimatecontroller |
| ChanghongEuropeElectrics.r.o | Controlbysamecontrollingshareholderandultimatecontroller |
| CHANGHONG.ELECTRIC.(AUSTRALIA)PTY.LTD. | Controlbysamecontrollingshareholderandultimatecontroller |
| Orion.PDP.Co.,ltd | Controlbysamecontrollingshareholderandultimatecontroller |
| PT.CHANGHONGELECTRICINDONESIA | Controlbysamecontrollingshareholderandultimatecontroller |
| ChengduChanghongElectronicTechnologyCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| Otherrelatedparty | Relationshipwiththecompany |
| GuangdongChanghongElectronicsCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| 081ElectronicGroupCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| MianyangHongshangRealEstateCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| MianyangHuafengHulianTechnologyCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanAichuangScience&TechnologyCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanAilinkTechnologyCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanAoikuTechnologyCo.,Ltd | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanHongweiTechnologyCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanHongxinSoftwareCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanHuafengTechnologyCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanJiahongIndustryCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanKuaiyidianElectricApplianceServiceChainCo.,Ltd | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanQiruikTechnologyCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongPackagePrintingCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongPowerSourceCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongElectronicProductsCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongGerunEnvironmentalProtectionTech.Co.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongInternationalHotelCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongGroupFinanceCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongJijiaFineCo.,Ltd. | Controlbysamecontrollingshareholderand |
| Otherrelatedparty | Relationshipwiththecompany |
| ultimatecontroller | |
| SichuanChanghongJiahuaInformationCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| ichuanChanghongEducationandTechnologyCo.,Ltd | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongJiechuangLithiumTechnologyCo.,Ltd | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongPrecisionElectronicsTech.Co.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongMinshengLogisticsCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongMouldingTech.Co.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongDeviceTechnologyCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongPropertyServiceCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongNewEnergyTechnologyCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongNetworkTechnologyCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongIntelligentManufacturingTechnologyCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanChanghongRealEstateCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| YuanxinFinancialLeaseCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| ChanghongInternationalHoldings(HongKong)Co.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| ChanghuaHuayiCompressorCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| ZhongjiuShiningMedicalTechnologyCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
| SichuanHongchengConstructionEngineeringCo.,Ltd. | Controlbysamecontrollingshareholderandultimatecontroller |
(ii)Relatedtransactions
1.Purchasingcommodity
| Relatedparty | Content | CurrentYear（In10thousandyuan) | Approvedtradingquota（（In10thousandyuan) | Whetherthetradinginmitisexceeded | Lastyear（In10thousandyuan) |
| SichuanChanghongElectronicsHoldingGroupCo.,Ltd | Purchasingcommodity | 184,374.05 | 350,000.00 | No | 116,368.50 |
| SichuanChanghongModelTechnologyCo.,Ltd. | Purchasingcommodity | 76,273.76 | 160,000.00 | No | 59,341.49 |
| SichuanChanghongJijiaFineCo.,Ltd. | Purchasingcommodity | 45,802.93 | 85,000.00 | No | 40,976.08 |
| SichuanChangxinRefrigerationPartsCo.,Ltd. | Purchasingcommodity | 45,370.66 | 40,618.06 | ||
| ChanghongHuayiCompressorCo.,Ltd. | Purchasingcommodity | 24,108.11 | 80,000.00 | No | 29,660.37 |
| SichuanAichuangScience&TechnologyCo.,Ltd. | Purchasingcommodity | 12,875.16 | 28,000.00 | No | 7,397.51 |
| SichuanChanghongPackagePrintingCo.,Ltd. | Purchasingcommodity | 10,858.96 | 25,000.00 | No | 8,727.99 |
| SichuanChanghongElectronicCo.,Ltd. | Purchasingcommodity | 5,824.16 | 15,000.00 | No | 6,217.87 |
| SichuanChanghongPrecisionElectronicsTech.Co.,Ltd. | Purchasingcommodity | 2,087.69 | 4,000.00 | No | 1,976.06 |
| SichuanChanghongElectronicProductsCo.,Ltd. | Purchasingcommodity | 1,866.86 | 5,000.00 | No | 1,485.08 |
| SichuanAokuTechnologyCo.,Ltd. | Purchasingcommodity | 1,230.57 | 7,000.00 | No | 1,458.92 |
| SichuanAilinkTechnologyCo.,Ltd. | Purchasingcommodity | 1,036.45 | 3,000.00 | No | 777.61 |
| Relatedparty | Content | CurrentYear（In10thousandyuan) | Approvedtradingquota（（In10thousandyuan) | Whetherthetradinginmitisexceeded | Lastyear（In10thousandyuan) |
| ChanghongInternationalHoldings(HongKong)Co.,Ltd. | Purchasingcommodity | 704.32 | 4,000.00 | No | 432.77 |
| GuangdongChanghongElectronicsCo.,Ltd. | Purchasingcommodity | 402.80 | 5,000.00 | No | 542.44 |
| SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | Purchasingcommodity | 255.57 | 5,000.00 | No | 160.02 |
| ChanghongRubaElectricCompany(Private)Ltd. | 购Purchasingcommodity | 242.53 | 201.38 | ||
| SichuanHongranGreenEnergyCo.,Ltd. | Purchasingcommodity | 115.66 | 70.68 | ||
| SichuanChanghongNewEnergyTechnologyCo.,Ltd. | Purchasingcommodity | 45.21 | 5,000.00 | No | 41.58 |
| SichuanChanghongDeviceTechnologyCo.,Ltd | Purchasingcommodity | 21.42 | 5,000.00 | No | 454.57 |
| SichuanChanghongIntelligentManufacturingTechnologyCo.,Ltd. | Purchasingcommodity | 5.65 | 5,000.00 | No | 0.49 |
| SichuanChanghongInternationalHotelCo.,Ltd. | Purchasingcommodity | 2.70 | 5,000.00 | No | |
| SichuanHongweiTechnologyCo.,Ltd. | Purchasingcommodity | 2.32 | 5,000.00 | No | 1.42 |
| SichuanJiahongIndustrialCo.,Ltd. | Purchasingcommodity | 1.09 | 5,000.00 | No | |
| MianyangHailiApplianceCo.,Ltd | Purchasingcommodity | 36,505.44 |
| Relatedparty | Content | CurrentYear（In10thousandyuan) | Approvedtradingquota（（In10thousandyuan) | Whetherthetradinginmitisexceeded | Lastyear（In10thousandyuan) |
| Total | 413,508.63 | 353,416.33 |
2.Accepttheservices
| Relatedparty | Content | CurrentYear | Approvedtradingquota | Whetherthetradinglimitisexceeded | LastYear |
| SichuanChanghongMinshengLogisticsCo.,Ltd. | Accepttheservices | 387,359,976.16 | 850,000,000.00 | No | 456,703,052.23 |
| SichuanServiceExp.ApplianceServiceChainCo.,Ltd. | Accepttheservices | 190,231,412.49 | 510,000,000.00 | No | 196,911,290.80 |
| SichuanChanghongMouldingTech.Co.,Ltd. | Accepttheservices | 18,006,535.83 | 65,000,000.00 | No | 22,376,331.56 |
| SichuanChanghongHongweiTechnologyCo.,Ltd. | Accepttheservices | 12,284,620.23 | 100,000,000.00 | No | |
| SichuanChangxinRefirgerationPartCo.,Ltd. | Accepttheservices | 11,964,184.52 | 2,101,818.01 | ||
| SichuanChanghongElectricCo.,Ltd. | Accepttheservices | 11,404,387.76 | 100,000,000.00 | No | 1,874,810.21 |
| SichuanJiahongIndustryCo.,Ltd. | Accepttheservices | 6,010,190.93 | 50,000,000.00 | No | 3,449,141.57 |
| SichuanChanghongJijiaFineCo.,Ltd | Accepttheservices | 5,077,115.51 | 100,000,000.00 | No | 1,253,524.26 |
| SichuanQiruikTechnologyCo.,Ltd. | Accepttheservices | 2,096,001.49 | 50,000,000.00 | No | 6,925,324.82 |
| Relatedparty | Content | CurrentYear | Approvedtradingquota | Whetherthetradinglimitisexceeded | LastYear |
| SichuanChanghongIntelligentManufacturingTechnologyCo.,Ltd. | Accepttheservices | 2,038,679.24 | 50,000,000.00 | No | |
| SichuanChanghongInternationalHotelCo.,Ltd. | Accepttheservices | 1,410,213.97 | 50,000,000.00 | No | 883,842.53 |
| SichuanAichuangTechnologyCo.,Ltd. | Accepttheservices | 761,080.70 | 50,000,000.00 | No | -59,982.26 |
| SichuanHongxinSoftwareCo.,Ltd. | Accepttheservices | 615,060.22 | 100,000,000.00 | No | 1,147,485.86 |
| SichuanChanghongElectricHoldingGroupCo.,Ltd. | Accepttheservices | 448,961.57 | 3,500,000,000.00 | No | 668,221.76 |
| GuangdongChanghongElectricCo.,Ltd. | Accepttheservices | 115,107.04 | 100,000,000.00 | No | 169,707.88 |
| SichuanChanghongGerunEnvironmentalTechnologyCo.,Ltd. | Accepttheservices | 102,372.55 | 50,000,000.00 | No | 54,051.42 |
| SichuanChanghongPropertyServiceCo.,Ltd. | Accepttheservices | 44,743.80 | 50,000,000.00 | No | 58,338.54 |
| SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | Accepttheservices | 16,122.61 | 100,000,000.00 | No | 77,108.12 |
| MianyangHigh-techZoneHongfuTechnologyCo.,Ltd | Accepttheservices | 682,378.32 | |||
| SichuanChanghongApplianceTechnologyCo.,Ltd. | Accepttheservices | 178,134.60 | |||
| SichuanChanghongElectricPartCo.,Ltd. | Accepttheservices | 34,147.70 |
| Relatedparty | Content | CurrentYear | Approvedtradingquota | Whetherthetradinglimitisexceeded | LastYear |
| SichuanChanghongNetworkTechnologyCo.,Ltd. | Accepttheservices | 733.94 | |||
| Total | 649,986,766.61 | 695,489,461.87 |
3.Salesofgoods
| Relatedparty | Content | CurrentPeriod(in10thousandYuan) | LastPeriod(in10thousandYuan) |
| SichuanZhiyijiaNetworkTechnolgyCo.,Ltd. | Salesofgoods | 345,985.45 | 381,470.50 |
| CHANGHONG(HK)TRADINGLIMITED | Salesofgoods | 108,880.15 | 23,462.80 |
| ChanghongInternationalHoldings(HongKong)Co.,Ltd. | Salesofgoods | 18,121.67 | 7,047.95 |
| CHANGHONG.ELECTRIC.(AUSTRALIA)PTY.LTD. | Salesofgoods | 13,524.24 | 13,731.67 |
| ChanghongEuropeElectrics.r.o | Salesofgoods | 8,071.31 | 3,386.81 |
| Orion.PDP.Co.,ltd | Salesofgoods | 627.27 | 2,058.89 |
| SichuanServiceExp.ApplianceServiceChainCo.,Ltd. | Salesofgoods | 318.55 | 217.07 |
| SichuanChanghongNetworkTechnologyCo.,Ltd. | Salesofgoods | 207.96 | 7.54 |
| SichuanChanghongElectricCo.,Ltd. | Salesofgoods | 82.38 | 49.79 |
| ZhongjiFlashMedicalTechnologyCo.,Ltd | Salesofgoods | 72.17 | |
| SichuanChanghongMinshengLogisticsCo.,Ltd. | Salesofgoods | 59.19 | 77.98 |
| SichuanHongchengConstructionEngineeringCo.,Ltd. | Salesofgoods | 29.00 | |
| SichuanAichuangTechnologyCo.,Ltd. | Salesofgoods | 9.82 | 0.53 |
| SichuanChanghongModelTechnologyCo.,Ltd. | Salesofgoods | 8.81 | 38.38 |
| PT.CHANGHONGELECTRICINDONESIA | Salesofgoods | 8.31 | |
| SichuanAilianTechnologyCo.,Ltd. | Salesofgoods | 4.96 | 4.95 |
| Relatedparty | Content | CurrentPeriod(in10thousandYuan) | LastPeriod(in10thousandYuan) |
| SichuanChanghongDeviceTechnologyCo.,Ltd | Salesofgoods | 2.09 | 80.90 |
| SichuanAokuTechnologyCo.,Ltd. | Salesofgoods | 1.96 | 19.23 |
| MianyangHongshangRealEstateCo.,Ltd | Salesofgoods | 0.86 | 0.72 |
| SichuanJiahongIndustryCo.,Ltd. | Salesofgoods | 0.74 | |
| SichuanChanghongRealEstateCo.,Ltd. | Salesofgoods | 0.40 | 1.44 |
| SichuanChanghongJijaFineCo.,Ltd. | Salesofgoods | 84.74 | |
| SichuanJiahuaInformationProductsCo.,Ltd. | Salesofgoods | 43.24 | |
| MianyangHuafengHulianTechnoologyCo.,Ltd. | Salesofgoods | 41.59 | |
| ChengduGuiguEnvironmentTechnologyCo.,Ltd. | Salesofgoods | 29.05 | |
| SichuanBaikuTechnologyCo.,Ltd. | Salesofgoods | 2.25 | |
| SichuanChanghongPowerSourceCo.,Ltd. | Salesofgoods | 0.30 | |
| SichuanChanghongInternationalHotalCo.,Ltd. | Salesofgoods | 0.11 | |
| Total | 496,017.29 | 431,858.43 |
4.Providingservices
| Relatedparty | Content | CurrentPeriod | LastPeriod |
| SichuanChanghongMouldingTech.Co.,Ltd. | Providetheservices | 2,224,512.15 | 2,027,703.13 |
| SichuanChanghongNetworkTechnologyCo.,Ltd | Providetheservices | 2,196,330.28 | 72,169.62 |
| SichuanServiceExp.ApplianceServiceChainCo.,Ltd. | Providetheservices | 1,088,762.30 | 883,592.07 |
| ZhongjiFlashMedicalTechnologyCo.,Ltd | Providetheservices | 719,919.27 | |
| ChanghongHuayiCompressorCo.,Ltd. | Providetheservices | 272,215.15 | 276,535.87 |
| GuangdongChanghongElectronicsCo.,Ltd. | Providetheservices | 269,697.41 | -52,499.01 |
| Relatedparty | Content | CurrentPeriod | LastPeriod |
| SichuanChanghongJijaFineCo.,Ltd. | Providetheservices | 224,171.79 | 188,495.79 |
| SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | Providetheservices | 161,111.99 | 70,158.00 |
| SichuanChanghongInternationalHotelCo.,Ltd. | Providetheservices | 121,622.26 | |
| SichuanChanghongPropertyServiceCo.,Ltd. | Providetheservices | 90,087.38 | 85,797.50 |
| SichuanChanghongMinshengLogisticsCo.,Ltd. | Providetheservices | 85,597.94 | 27,871.75 |
| SichuanChanghongNewEnergyTechnologyCo.,Ltd. | Providetheservices | 64,220.18 | |
| SichuanChanghongJiechuangLithiumBatteryTechnologyCo.,Ltd. | Providingservices | 42,952.83 | 10,912.08 |
| SichuanAichuangTechnologyCo.,Ltd. | Providingservices | 40,798.97 | -97,082.07 |
| SichuanAokuTechnologyCo.,Ltd. | Providetheservices | 17,035.53 | 50,941.15 |
| SichuanChanghongInternationalHotelCo.,Ltd. | Providingservices | 15,102.21 | 26,349.12 |
| MianyangHuafengHulianTechnologyCo.,Ltd. | Providingservices | 14,221.00 | 3,954,355.82 |
| SichuanChanghongPrecisionElectronicTechnologyCo.,Ltd. | Providetheservices | 12,822.17 | |
| SichuanChanghongEducationandTechnologyCo.,Ltd | Providetheservices | 7,800.00 | 9,000.00 |
| SichuanChanghongElectronicProductsCo.,Ltd. | Providetheservices | 1,522.64 | 900.00 |
| SichuanHongweiTechnologyCo.,Ltd. | Providetheservices | 1,410.00 | |
| SichuanAilianTechnologyCo.,Ltd. | Providetheservices | 793.25 | 1,586.50 |
| SichuanChanghongDeviceTechnologyCo.,Ltd | Providetheservices | 544,959.19 | |
| YuanxinFinanceleasingCo.,Ltd. | Providetheservices | 489,372.07 | |
| SichuanQiruikTechnologyCo.,Ltd. | Providetheservices | 1,446.00 | |
| SichuanHuafengTechnologyCo.,Ltd. | Providetheservices | -11,201.00 | |
| Total | 7,672,706.70 | 8,561,363.58 |
5.Relatedrental
(1)Rentout
| Lessor | Lessee | Typeofassets | LeasingincomeinCurrentPeriod | LeasingincomeinLastPeriod |
| ChanghongMeiling | SichuanChanghongMouldingTech.Co.,Ltd. | Apartments,warehouses,factories | 1,045,460.41 | 999,377.25 |
| ChanghongMeiling | SichuanChanghongJijiaFineCo.,Ltd. | Apartments,warehouses | 410,968.76 | 402,946.09 |
| ChanghongMeiling | SichuanChanghongJijiaFineCo.,Ltd. | warehouse,apartment,forklift,warehouse | 128,842.73 | 126,690.06 |
| ChanghongMeiling | SichuanChanghongMinshengLogisticsCo.,Ltd. | apartment | 103,344.70 | 114,850.93 |
| ChanghongMeiling | SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | Apartment | 84,220.18 | 94,128.44 |
| ChanghongMeiling | SichuanAokuTechnologyCo.,Ltd. | Apartment | 5,858.10 | |
| HefeiIndustry | SichuanChanghongMouldingTech.Co.,Ltd. | Workshop | 4,868,857.38 | 4,761,352.56 |
| HefeiIndustry | SichuanChanghongJijiaFineCo.,Ltd. | Workshop | 1,277,089.20 | 1,225,767.60 |
| HefeiIndustry | SichuanServiceExp.ApplianceServiceChainCo.,Ltd. | Workshop | 119,275.20 | 124,675.20 |
| HefeiIndustry | SichuanChanghongEducationandTechnologyCo.,Ltd | Workshop | 3,240.00 | 10,800.00 |
| ChanghongAir-conditioner | SichuanChanghongMouldingTech.Co.,Ltd. | Workshop | 2,910,566.23 | 2,927,575.63 |
| ChanghongAir-conditioner | SichuanChanghongJijiaFineCo.,Ltd. | warehouse | 1,871,238.14 | 1,867,409.09 |
| Changhong | SichuanChanghongElectricCo.,Ltd. | Workshop | 460,768.76 | 429,427.67 |
| Lessor | Lessee | Typeofassets | LeasingincomeinCurrentPeriod | LeasingincomeinLastPeriod |
| Air-conditioner | ||||
| ChanghongAir-conditioner | SichuanChangxinRefrigerationPartsCo.,Ltd. | ProcessingequipmentofU | 53,333.35 | |
| ChanghongAir-conditioner | ChengduGuiguEnvironmentalTech.Co.,Ltd | Houseandbuildings | 14,201.83 | |
| RidianTechnology | SichuanChanghongDeviceTechnologyCo.,Ltd. | Workshop | 1,035,191.67 | |
| RidianTechnology | SichuanChanghongMinshengLogisticsCo.,Ltd. | Workshop | 204,508.80 | |
| RidianTechnology | SichuanChanghongDeviceTechnologyCo.,Ltd. | Workshop | 20,088.87 | 1,073,574.84 |
| RidianTechnology | SichuanQiruikTechnologyCo.,Ltd. | Workshop | 47,314.29 | |
| ZhongshanChanghong | SichuanChanghongMinshengLogisticsCo.,Ltd. | Partsoftheofficebuildingrent-out | 17,256.88 | 22,148.58 |
| JiangxiMeiling | SichuanChanghongMouldingTech.Co.,Ltd. | Workshop | 756,553.76 | 443,546.86 |
| JiangxiMeiling | SichuanChanghongMinshengLogisticsCo.,Ltd. | Warehouse,Office | 9,142.86 | 9,142.86 |
| Total | 15,326,614.53 | 14,754,121.23 |
(2)Lesseeofrelatedparties
| Lessor | Lessee | Typeofassets | Rentalchargesforshort-termandlow-valueassets(ifany) | Variableleasepaymentsnotincludedinleaseliabilitiesmeasurement(ifany) | Rentpaid | Interestexpensesonleaseliabilitiesassumed | Increaseduserightassets | |||||
| Amountofcurrentperiod | Amountofpreviousperiod | Amountofcurrentperiod | Amountofpreviousperiod | Amountofcurrentperiod | Amountofpreviousperiod | Amountofcurrentperiod | Amountofpreviousperiod | Amountofcurrentperiod | Amountofpreviousperiod | |||
| SichuanChanghongElectricCo.,Ltd. | HongmeiIntelligent | Office | 81,117.58 | 7,300.58 | ||||||||
| ChengduChanghongElectronicTechnologyCo.,Ltd. | HongmeiIntelligent | Office | 42,053.79 | 313,553.36 | 15,677.67 | 1,050,743.08 | 329,231.03 | |||||
| SichuanChanghongElectronicsHoldingGroupCo.,Ltd. | ChanghongAir-conditioner | Rental | 94,055.52 | 84,747.84 | 3,507.46 | 12,815.14 | 338,991.37 | |||||
| SichuanChanghongElectronicsHoldingGroupCo.,Ltd. | ChanghongAir-conditioner | Staffdormitory | 1,920.00 | |||||||||
AnnotationsofFinancialStatementsofChanghongMeilingCo.,Ltd.
From1January2025to30June2025(Unlessotherwisespecified,RMBforrecordintheStatement)
| SichuanChanghongElectricCo.,Ltd. | ChanghongAir-conditioner | VISALaboratories | 153,431.50 | 153,431.50 | 17,157.52 | 17,157.52 | ||||
| SichuanChanghongElectricCo.,Ltd. | ChanghongAir-conditioner | Workshopleasing | 400,557.90 | 106,678.90 | ||||||
| SichuanJiahongIndustrialCo.,Ltd. | ChanghongAir-conditioner | Staffdormitory | 117,790.07 | 271,649.52 | ||||||
| SichuanHuafengTechnologyCo.,Ltd. | ChanghongAir-conditioner | Staffdormitory | 183,000.00 | |||||||
| SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | ChanghongAir-conditioner | Office | 21,600.00 | |||||||
| GuangdongChanghongElectronicsCo.,Ltd. | Groundenergyheatpump | Staffdormitory | 19,458.03 | 46,289.04 | ||||||
| SichuanJiahongIndustrialCo.,Ltd. | ChanghongAir-conditioner | Staffdormitory | 46,257.80 | |||||||
| SichuanChanghong | Mianyang | Workshop | 47,691.74 | 64,519.38 | 1,128,271.95 | 1,039,954.88 | 451,314.25 | 601,697.08 | 586,216.98 |
| ElectricCo.,Ltd. | Meiling | ||||||||||
| SichuanJiahongIndustrialCo.,Ltd. | MianyangMeiling | Staffdormitory | 15,485.57 | 15,620.97 | |||||||
| GuangdongChanghongElectronicsCo.,Ltd. | RidianTechnology | Staffdormitory | -394.06 | 33,749.28 | |||||||
| SichuanChanghongMinshengLogisticsCo.,Ltd. | ZhongshanChanghong | Workshop | 4,126,854.30 | 284,103.48 | 406,363.14 | ||||||
| ChanghongHuayiCompressorCo.,Ltd | JiangxiMeiling | Staffdormitory | 59,331.95 | 57,000.00 | |||||||
| Total | 912,699.00 | 595,507.09 | 5,625,784.64 | 1,591,687.58 | 763,383.29 | 647,347.41 | 2,043,323.20 | 668,222.40 |
6.Relatedguarantee
| Securedparty | Sponsoredparty | Maximumguaranteeamount(in10thousandYuan) | Start | Datedue | Completed(Y/N)Fulfill |
| Guarrantee： | |||||
| ChanghongMeiling | MeilingGroup | 20,000.00 | 2024-10-16 | 2025-10-15 | Yes |
| ChanghongMeiling | MeilingGroup | 40,000.00 | 2025-06-03 | 2026-06-02 | No |
| ChanghongMeiling | HefeiIndustry | 3,000.00 | 2025-04-23 | 2026-03-24 | No |
| ChanghongMeiling | HefeiIndustry | 3,579.30 | 2025-05-26 | 2026-05-26 | No |
| ChanghongMeiling | HefeiIndustry | 5,000.00 | 2025-04-27 | 2026-04-27 | No |
| ChanghongMeiling | RidianTechnology | 3,500.00 | 2024-02-06 | 2024-12-28 | Yes |
| ChanghongMeiling | ChangmeiLifeAppliances | 8,000.00 | 2024-01-22 | 2025-01-22 | Yes |
| ChanghongMeiling | ChangmeiLifeAppliances | 10,000.00 | 2023-12-01 | 2024-11-30 | Yes |
| ChanghongMeiling | Changhongair-conditioner | 60,000.00 | 2024-06-18 | 2024-12-31 | Yes |
| ZhongkeMeiling | TuoxingTechnology | 400.00 | 2023-08-15 | 2024-08-14 | Yes |
| ZhongkeMeiling | TuoxingTechnology | 1,000.00 | 2024-07-24 | 2025-06-17 | Yes |
| ZhongkeMeiling | TuoxingTechnology | 1,000.00 | 2025-02-14 | 2026-02-14 | No |
| ZhongkeMeiling | LinganMedical | 1,000.00 | 2024-10-31 | 2025-10-30 | No |
| ZhongkeMeiling | LinganMedical | 1,000.00 | 2025-02-11 | 2026-02-11 | No |
| Counterguarrantee： | |||||
| MeilingGroup | ChanghongMeiling | 20,000.00 | 2024-10-16 | 2025-10-15 | Yes |
| Securedparty | Sponsoredparty | Maximumguaranteeamount(in10thousandYuan) | Start | Datedue | Completed(Y/N)Fulfill |
| MeilingGroup | ChanghongMeiling | 40,000.00 | 2025-06-03 | 2026-06-02 | No |
| HefeiIndustry | ChanghongMeiling | 3,000.00 | 2025-04-23 | 2026-03-24 | No |
| HefeiIndustry | ChanghongMeiling | 3,579.30 | 2025-05-26 | 2026-05-26 | No |
| HefeiIndustry | ChanghongMeiling | 5,000.00 | 2025-04-27 | 2026-04-27 | No |
| RidianTechnology | ChanghongMeiling | 3,500.00 | 2024-02-06 | 2024-12-28 | Yes |
| MeilingLifeAppliances | ChanghongMeiling | 8,000.00 | 2024-01-22 | 2025-01-22 | Yes |
| MeilingLifeAppliances | ChanghongMeiling | 10,000.00 | 2023-12-01 | 2024-11-30 | Yes |
| Changhongair-conditioner | ChanghongMeiling | 60,000.00 | 2024-06-18 | 2024-12-31 | Yes |
| TouxingTechnology | ZhongkeMeiling | 400.00 | 2023-08-15 | 2024-08-14 | Yes |
| TouxingTechnology | ZhongkeMeiling | 1,000.00 | 2024-07-24 | 2025-06-17 | Yes |
| TouxingTechnology | ZhongkeMeiling | 1,000.00 | 2025-02-14 | 2026-02-14 | No |
| LinganMedical | ZhongkeMeiling | 1,000.00 | 2024-10-31 | 2025-10-30 | No |
| LinganMedical | ZhongkeMeiling | 1,000.00 | 2025-02-11 | 2026-02-11 | No |
7.Assetstransferanddebtreorganizationofrelatedparties
| Relatedparty | Type | CurrentPeriod | LastPeriod |
| SichuanChanghongIntelligentManufacturingTechnologyCo.,Ltd. | Purchaseandconstructionoffixedassets | 1,321,061.95 | 352,395.49 |
AnnotationsofFinancialStatementsofChanghongMeilingCo.,Ltd.
From1January2025to30June2025(Unlessotherwisespecified,RMBforrecordintheStatement)
| SichuanChanghongHongweiTechnologyCo.,Ltd. | Purchaseandconstructionoffixedassets | 265,486.73 | |
| SichuanHongxinSoftwareCo.,Ltd. | Purchaseandconstructionoffixedassets | 234,933.63 | |
| SichuanChanghongNewwangTechnologyCo.,Ltd. | Purchaseandconstructionoffixedassets | 17,072.02 | |
| SichuanChanghongElectricCo.,Ltd. | Constructionoffixedassets | 610,665.49 | |
| 081ElectronicGroupCo.,Ltd. | Purchaseandconstruction | 184,634.57 | |
| SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | Purchaseandconstructionoffixedassets | 35,020.36 | 78,818.00 |
| GuangdongChanghongElectricCo.,Ltd. | Purchaseandconstructionoffixedassets | 3,982.30 | |
| SichuanHongxinSoftwareCo.,Ltd. | Purchaseand | 1,320,754.71 |
| constructionoffixedassets | |||
| SichuangTechnologyCo.,Ltd. | Saleoffixedassets | 663,000.00 | |
| Total | 3,861,311.70 | 1,226,513.55 |
8.Other
| Nameofcompany | Content | CurrentPeriod(in10thousandYuan) | LastPeriod(in10thousandYuan) |
| YuanxinFinancialLeaseCo.,Ltd. | Financingbusiness | 207,172.10 | 56,792.49 |
9.RelatedtransactionwithChanghongFinanceCompany
(1)Savingbalance
| Nameofcompany | Endingbalance | Openingbalance | Interestincomefrombanksavingintheperiod |
| ChanghongMeilingCo.,Ltd. | 1,376,821,999.01 | 1,415,028,147.56 | 11,210,822.47 |
| SichuanChanghongAir-conditionerCo.,Ltd | 1,800,552,129.99 | 1,255,972,933.70 | 7,604,796.77 |
| ZhongshanChanghongElectricCo.,Ltd | 809,239,720.89 | 1,283,231,387.72 | 5,728,040.50 |
| HefeiChanghongMeilingLifeAppliancesCo.,Ltd. | 258,197,877.33 | 240,741,317.89 | 916,635.14 |
| GroundEnergyHeatPumpTech.(Zhongshan)Co.,Ltd. | 176,995,430.51 | 169,736,029.92 | 1,825,415.73 |
| ZhongkeMeilingCryogenicTechnologyCo.,Ltd | 3,019,009.43 | 80,025,044.46 | 404,805.85 |
| ChanghongMeilingRidianTechnologyCo.,Ltd. | 10,057,239.76 | 80,215,052.07 | 192,758.74 |
| HefeiChanghongIndustryCo.,Ltd. | 49,377,729.28 | 33,061,349.30 | 104,296.86 |
| HefeiMeilingGroupHoldingsLimited | 2,405,866.00 | 498,534.27 | 14,367.87 |
| AnhuiTuoxingTechnologyCo.,Ltd. | 5,331,703.57 | 7,364,529.96 | 59,728.57 |
| Nameofcompany | Endingbalance | Openingbalance | Interestincomefrombanksavingintheperiod |
| MianyangMeilingRefrigerationCo.,Ltd. | 33,887.03 | 14,082.62 | 26.89 |
| GroundEnergyHeatPumpTech.Co.,Ltd | 0.02 | 0.02 | |
| JiangxiMeilingElectricApplianceCo.,Ltd. | 9,244.84 | 9,230.50 | 13.93 |
| AnhuiLing'anmedicalequipmentCo.,Ltd. | 10,067,129.04 | 2,991,432.99 | 48,510.56 |
| SichuanChanghongIntelligentAirConditioningTechnologyCo.,Ltd | 13,691.36 | ||
| Total | 4,502,108,966.70 | 4,568,889,072.96 | 28,123,911.26 |
(2)Discountedbills
| BankacceptanceDiscountedfaceamount | BankacceptanceDiscountedamount | DiscountingfeesAmountofexpenses | |
| ChanghongMeilingCo.,Ltd. | 174,459,489.40 | 173,594,037.19 | 865,452.21 |
| SichuanChanghongAir-conditionerCo.,Ltd | 244,402,463.78 | 243,206,643.46 | 1,195,820.32 |
| ZhongshanChanghongElectricCo.,Ltd | 7,506,244.48 | 7,450,521.36 | 55,723.12 |
| HefeiChanghongMeilingLifeAppliancesCo.,Ltd. | 58,406,853.83 | 58,117,733.11 | 289,120.72 |
| GroundEnergyHeatPumpTech.(Zhongshan)Co.,Ltd. | 1,399,232.70 | 1,385,084.90 | 14,147.80 |
| SichuanChanghongIntelligentAirConditioningTechnologyCo.,Ltd | 611,420,094.49 | 605,667,217.81 | 5,752,876.68 |
| Total | 1,097,594,378.68 | 1,089,421,237.83 | 8,173,140.85 |
(3)Issuanceofinvoices
| Nameofcompany | Issuer | Billamount | Types |
| ZhongshanChanghongElectricCo.,Ltd. | SichuanChanghongGroupFinanceCo.,Ltd. | 27,930,000.00 | Financialcompanyacceptancebill |
| SichuanChanghongAir-conditionerCo.,Ltd. | SichuanChanghongGroupFinanceCo.,Ltd. | 225,580,466.27 | Financialcompanyacceptancebill |
| ZhongshanChanghongElectricCo.,Ltd. | SichuanChanghongGroupFinanceCo.,Ltd. | 334,322,340.88 | Financialcompanyacceptancebill |
| Nameofcompany | Issuer | Billamount | Types |
| HefeiMeilingGroupHoldingsLimited | SichuanChanghongGroupFinanceCo.,Ltd. | 27,720,920.90 | Financialcompanyacceptancebill |
| HefeiChanghongMeilingLifeAppliancesCo.,Ltd. | SichuanChanghongGroupFinanceCo.,Ltd. | 47,757,741.34 | Financialcompanyacceptancebill |
| ChanghongMeilingRidianTechnologyCo.,Ltd. | SichuanChanghongGroupFinanceCo.,Ltd. | 2,686,895.04 | Financialcompanyacceptancebill |
| GroundEnergyHeatPumpTech.(Zhongshan)Co.,Ltd. | SichuanChanghongGroupFinanceCo.,Ltd. | 76,146,686.85 | Financialcompanyacceptancebill |
| ZhongkeMeilingCryogenicTechnologyCo.,Ltd. | SichuanChanghongGroupFinanceCo.,Ltd. | 15,115,731.41 | Financialcompanyacceptancebill |
| AnhuiLing'anmedicalequipmentCo.,Ltd. | SichuanChanghongGroupFinanceCo.,Ltd. | 384,650.14 | Financialcompanyacceptancebill |
| SichuanChanghongIntelligentAirConditioningTechnologyCo.,Ltd | SichuanChanghongGroupFinanceCo.,Ltd. | 69,978,942.11 | Financialcompanyacceptancebill |
| Total | 827,624,374.94 |
(4)Creditorotherfinancialservices
| Name | Transactioncontent | Amountincurredthisyear |
| SichuanChanghongAirConditioningCo.,Ltd | Guaranteeletter | 182,592.00 |
| Total | 182,592.00 |
(5)Borrowings:None
(6)Receivablefactoring:None(iii)Comeandgobalancewithrelatedparties
1.Receivableitems
| Item | Relatedparty | Balanceatyear-end | Balanceatyear-begin | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | ||
| Item | Relatedparty | Balanceatyear-end | Balanceatyear-begin | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | ||
| Accountreceivable | CHANGHONG(HK)TRADINGLIMITED | 341,628,774.75 | 18,060,561.30 | 124,276,627.62 | |
| Accountreceivable | ChanghongInternationalHoldings(HongKong)Co.,Ltd. | 222,101,819.77 | 6,086,902.62 | 90,937,385.97 | 5,052,875.52 |
| Accountreceivable | SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | 208,549,752.32 | 95,267,798.10 | 128,220,885.04 | 83,477,192.59 |
| Accountreceivable | CHANGHONGELECTRI(AUSTRALIA)PTY.LTD. | 96,532,492.53 | 74,487,210.94 | 39,350.40 | |
| Accountreceivable | ChanghongEuropeElectrics.r.o | 57,549,465.33 | 2,558,625.17 | 42,995.83 | |
| Accountreceivable | ChanghongRubaElectricCompany(Private)Ltd. | 41,190,978.17 | 41,190,978.17 | 41,322,357.73 | 41,322,357.73 |
| Accountreceivable | Orion.PDP.Co.,ltd | 6,970,291.67 | 60,622.92 | 12,279,923.14 | |
| Accountreceivable | MianyangHuafengHulianTechnologyCo.,Ltd. | 2,071,072.00 | 9,218,144.00 | ||
| Accountreceivable | SichuanChanghongXinwangTechnologyCo.,Ltd. | 1,660,394.05 | |||
| Accountreceivable | SichuanChanghongElectricApplianceCo.,Ltd | 999,632.15 | 4,944.41 | 729,165.87 | |
| Accountreceivable | SichuanServiceExp.ApplianceServiceChainCo.,Ltd. | 522,289.97 | 323,007.09 | ||
| Accountreceivable | SichuanHongzhengConstructionEngineeringCo.,Ltd. | 131,101.20 | |||
| Accountreceivable | ChanghongHuayiCompressorCo.,Ltd. | 88,920.00 | 380,929.13 | ||
| Item | Relatedparty | Balanceatyear-end | Balanceatyear-begin | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | ||
| Accountreceivable | SichuanChanghongJijiaFineCo.,Ltd. | 53,887.68 | 293,742.36 | ||
| Accountreceivable | SichuanAichuangTechnologyCo.,Ltd. | 402,121.61 | |||
| Accountreceivable | YuanxinFinancingLeaseCo.,Ltd. | 381,503.00 | |||
| Accountreceivable | SichuanChanghongDeviceTechnologyCo.,Ltd | 8,300.00 | |||
| Accountreceivable | SichuanAokuTechnologyCo.,Ltd. | 5,618.00 | |||
| Accountreceivable | SichuanChanghongMinshengLogisticsCo.,Ltd. | 2,980.00 | |||
| Accountreceivable | SichuanChanghongMinshengLogisticsCo.,Ltd. | 361,512.31 | 248,306.00 | ||
| Accountreceivable | SichuanAilianTechnologyCo.,Ltd. | 50,889.49 | 50,889.49 | ||
| Accountreceivable | SichuanChanghongElectricCo.,Ltd. | 8,090.38 | |||
| Accountreceivable | ChengduChanghongElectricTechnologyCo.,Ltd. | 345,692.58 | |||
| Accountreceivable | SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | 305,127.24 | 209,510.00 | ||
| Accountreceivable | SichuanChanghongMinshengLogisticsCo.,Ltd. | 224,334.24 | |||
| Accountreceivable | SichuanServiceExp.ApplianceServiceChainCo.,Ltd. | 200,000.00 | 570,493.29 | ||
| Item | Relatedparty | Balanceatyear-end | Balanceatyear-begin | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | ||
| Accountreceivable | SichuanJiahongIndustryCo.,Ltd. | 10,000.00 | 19,982.00 | ||
| Accountreceivable | SichuanHongyunNew-GenerationInformationtechnologyVentureCapitalFundPartnership(limitedpartnership) | 2,217,600.00 | |||
| Accountreceivable | SichuanChanghongPropertyServiceCo.,Ltd. | 2,904.93 | |||
| Contractassets | YuanxinFinancialLeasingCo.,Ltd | 534,886.00 | |||
| Contractassets | SichuanAichuangTechnologyCo.,Ltd. | 74,919.00 | |||
| Contractassets | SichuanChanghongElectricApplianceCo.,Ltd | 36,000.00 | |||
| Total | 981,321,744.25 | 160,671,807.52 | 490,028,790.96 | 129,934,772.07 | |
2.Payableitems
| Item | Relatedparty | Balanceatyear-end | Balanceatyear-begin |
| Accountpayable | SichuanChanghongMouldingTech.Co.,Ltd. | 339,510,277.27 | 258,862,002.89 |
| Accountpayable | SichuanChanghongElectricHoldingsGroupCo.,Ltd. | 289,846,347.57 | 299,558,983.37 |
| Accountpayable | SichuanChangxinRefrigerationPartsCo.,Ltd. | 104,652,935.00 | 55,712,908.20 |
| Accountpayable | ChanghongHuayiCompressorCo.,Ltd. | 93,545,228.01 | 106,340,141.35 |
| Accountpayable | SichuanChanghongJijiaFineCo.,Ltd. | 74,660,061.25 | 130,536,924.54 |
| Accountpayable | SichuanChanghongPackagePrintingCo.,Ltd. | 72,948,675.82 | 37,429,782.71 |
| Item | Relatedparty | Balanceatyear-end | Balanceatyear-begin |
| Accountpayable | SichuanAichuangScience&TechnologyCo.,Ltd. | 62,166,902.30 | 50,559,432.86 |
| Accountpayable | ChanghongInternationalHoldings(HongKong)Co.,Ltd. | 61,652,576.36 | 16,331,072.34 |
| Accountpayable | ChanghongRubaElectricCompany(Private)Ltd. | 22,048,586.59 | 19,165,511.45 |
| Accountpayable | SichuanChanghongPrecisionElectronicsTech.Co.,Ltd. | 14,808,726.87 | 7,834,650.42 |
| Accountpayable | PT.CHANGHONGELECTRICINDONESIA | 13,170,988.27 | |
| Accountpayable | SichuanChanghongElectronicsProductsCo.,Ltd | 12,565,705.76 | 6,151,227.60 |
| Accountpayable | SichuanChanghongElectricCo.,Ltd. | 11,949,593.98 | 16,714,312.78 |
| Accountpayable | SichuanChanghongMinshengLogisticsCo.,Ltd. | 9,685,814.79 | 3,463,779.16 |
| Accountpayable | SichuanAokuTechnologyCo.,Ltd. | 8,950,815.32 | 7,036,322.79 |
| Accountpayable | SichuanAilianTechnologyCo.,Ltd. | 7,458,215.90 | 3,277,511.80 |
| Accountpayable | GuangdongChanghongElectricCo.,Ltd. | 1,958,232.75 | 3,006,306.65 |
| Accountpayable | SichuanHongxinSoftwareCo.,Ltd. | 1,441,783.96 | 779,047.17 |
| Accountpayable | SichuanServiceExp.ApplianceServiceChainCo.,Ltd. | 509,559.41 | 892,549.81 |
| Accountpayable | SichuanHongweiTechnologyCo.,Ltd. | 300,000.00 | 297,860.00 |
| Item | Relatedparty | Balanceatyear-end | Balanceatyear-begin |
| Accountpayable | SichuanChanghongNewEnergyTechnologyCo.,Ltd. | 281,492.92 | 252,981.10 |
| Accountpayable | SichuanJiahongIndustryCo.,Ltd. | 106,420.80 | |
| Accountpayable | SichuanChanghongInternationalHotelCo.,Ltd. | 96,173.00 | 106,873.00 |
| Accountpayable | SichuanChanghongIntelligentManufacturingTechnologyCo.,Ltd. | 81,196.58 | 239,196.58 |
| Accountpayable | SichuanQiruikTechnologyCo.,Ltd. | 32,000.00 | 32,000.00 |
| Accountpayable | SichuanChanghongDeviceTechnologyCo.,Ltd | 8,628.14 | 272,906.94 |
| Accountpayable | ChengduGuiguEnvironmentalTech.Co.,Ltd | 8,247.36 | 8,247.36 |
| Accountpayable | SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | 3,396.22 | 32,784.73 |
| Contractliability | SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | 3,450,733.06 | 71,546,849.75 |
| Contractliability | SichuanChanghongNewEnergyTechnologyCo.,Ltd. | 862,831.86 | |
| Contractliability | YuanxinFinancialLeasingCo.,Ltd | 427,148.11 | |
| Contractliability | SichuanChanghongElectricApplianceCo.,Ltd | 353,941.29 | 354,131.55 |
| Contractliability | ChanghongInternationalHoldings（Hongkong）Co.,Ltd. | 229,685.31 | 427,524.59 |
| Contractliability | SichuanBaikuTechnologyCo.,Ltd. | 16,569.91 | 138,472.56 |
| Item | Relatedparty | Balanceatyear-end | Balanceatyear-begin |
| Contractliability | SichuanChanghongMinshengLogisticsCo.,Ltd. | 16,052.57 | 14,654.89 |
| Contractliability | SichuanServiceExp.ApplianceServiceChainCo.,Ltd | 662.83 | 42,786.17 |
| Contractliability | ZhongjiFlashMedicalTechnologyCo.,Ltd | 419,207.79 | |
| Contractliability | SichuanAichuangTechnologyCo.,Ltd. | 198,900.00 | |
| Contractliability | SichuanChanghongGerunEnvironmentalProtectionTechnologyCo.,Ltd | 175,023.04 | |
| Contractliability | CHANGHONG(HK)TRADINGLIMITED | 922.22 | |
| Leaseliability | SichuanChanghongElectricCo.,Ltd. | 24,244,202.23 | 24,991,184.60 |
| Leaseliability | SichuanChanghongMinshengLogisticsCo.,Ltd. | 22,592,089.99 | |
| Leaseliability | ChengduChanghongElectronicTechnologyCo.,Ltd. | 1,001,346.79 | 345,692.58 |
| Leaseliability | SichuanChanghongElectricHoldingGroupCo.,Ltd. | 94,055.50 | 188,111.02 |
| Otherpayable | SichuanServiceExp.ApplianceServiceChainCo.,Ltd | 148,102,810.09 | 129,354,211.90 |
| Otherpayable | SichuanChanghongMinshengLogisticsCo.,Ltd. | 145,679,090.02 | 168,320,548.19 |
| Otherpayable | SichuanChanghongElectricHoldingGroupCo.,Ltd | 3,445,191.35 | 2,235,171.18 |
| Otherpayable | SichuanChanghongMouldingTech.Co.,Ltd | 2,104,216.97 | 1,933,572.12 |
| Otherpayable | ChanghongHuayiCompressorCo.,Ltd. | 1,648,900.00 | 1,801,167.60 |
| Otherpayable | sichuanChanghongElectricCo.,Ltd. | 1,337,485.35 | 4,455,214.28 |
| Otherpayable | SichuanChanghongJijiaFineCo.,Ltd. | 430,500.00 | 430,500.00 |
| Otherpayable | SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | 217,378.80 | 232,021.08 |
| Item | Relatedparty | Balanceatyear-end | Balanceatyear-begin |
| Otherpayable | SichuanChanghongHongweiTechnologyCo.,Ltd. | 188,779.24 | 1,262,762.78 |
| Otherpayable | SichuanChanghongElectronicProductsCo.,Ltd. | 161,820.00 | 100,000.00 |
| Otherpayable | SichuanHongXinSoftwareCo.,Ltd. | 150,000.00 | 187,735.85 |
| Otherpayable | SichuanAokuTechnologyCo.,Ltd. | 132,973.56 | 132,973.56 |
| Otherpayable | SichuanAichuangTechnologyCo.,Ltd. | 108,584.90 | 101,132.08 |
| Otherpayable | SichuanChanghongPackagePrintingCo.,Ltd. | 60,900.78 | 50,000.00 |
| Otherpayable | SichuanAilianTechnologyCo.,Ltd. | 50,000.00 | 51,306.28 |
| Otherpayable | 081ElectronicGroupCo.,Ltd. | 40,867.89 | 40,867.89 |
| Otherpayable | SichuanChangxinRefrigerationPartsCo.,Ltd. | 23,052.00 | 57,098.03 |
| Otherpayable | GuangdongChanghongElectricCo.,Ltd. | 11,497.96 | 17,514.52 |
| Otherpayable | SichuanQiruikTechnologyCo.,Ltd. | 7,410.00 | 826,071.35 |
| Otherpayable | SichuanJiahongIndustrialCo.,Ltd. | 18.00 | 301,482.92 |
| Otherpayable | SichuanChanghongGerunEnvironmentalProtectionTechnologyCo.,Ltd | 150,000.00 | |
| Otherpayable | SichuanChanghongIntelligenceManufacturingTechnologyCo.,Ltd. | 34,550.00 | |
| Otherpayable | ChengduGuiguEnvironmentalTech.Co.,Ltd | 5,717.80 | |
| Otherpayable | SichuanChanghongInternationalHotelCo.,Ltd | 849.06 | |
| Receivedinadvance | SichuanChanghongJijiaFineCo.,Ltd. | 309,333.09 | |
| Receivedinadvance | SichuanChanghongMouldingTech.Co.,Ltd. | 308,092.28 | |
| Total | 1,562,256,803.93 | 1,435,821,246.83 | |
XIII.Commitmentsandcontingencies
(I)Importantcommitments
AsofJune30,2025,theCompanyhasnoimportantcommitmentsthatshouldbedisclosedbutnotdisclosed.(II)Contingency
1.PendingactionorpossibleliabilitiesformedfromarbitrationInNovember2021,ZhejiangTeruisiPharmaceuticalCo.,Ltd.filedalawsuitagainstZhongkeMeilingforthe"ContractforColdStorageDesign,EquipmentProcurementandInstallationConstruction".Uptonow,ZhongkeMeilingandZhejiangTeruisiPharmaceuticalInc.havereachedapreliminarysettlementintention,andhavewithdrawnthethird-stagecostappraisalfromthecourt,andbotharecommunicatingtheprojectmaintenanceplan.TheestimatedmaintenancecostisRMB1,720,534.42.AsofJune30,2025,apartfromtheaforementionedlawsuits,someofoursubsidiarieshavebeendefendantsincertainlegalproceedingsandplaintiffsinotherlawsuitsthatariseinourdailybusinessoperations.Althoughtheoutcomeofthesecontingencies,legalproceedings,orotherlawsuitscannotbedeterminedatpresent,themanagementbelievesthatanyresultingliabilitieswillnothaveasignificantnegativeimpactonthefinancialconditionoroperatingperformanceofthecompanyXIV.Eventsoccurringafterthebalancesheetdate
1.Importantnon-adjustmentitems:None
2.Profitdistribution:None
3.Majorsalesreturn:None
4.Otherthantheabovementionedevents,theCompanyhavenoothereventsoccurredafterbalancesheetdate.XV.Othersignificantmatters
(I)Branchinformation
1.DeterminethefactorsconsideredbythereportingsegmentTheCompanydeterminesthereportingsegmentbasedontheinternalorganizationalstructure,managementrequirementsandinternalreportingsystem,andaccordingtothebusinesssegment.Itassessestheoperating
performanceofrefrigerator,freezerandwashingmachinebusiness,airconditionerbusiness,smallhomeappliancesbusinessandotherproductbusinessrespectively.
2.Branchinformation
InRMB10,000
| Item | Refrigerator,freezerWashingmachine | Air-conditioner | Smallhomeappliances | Other | Salesinbranch | Total |
| Operationincome | 566,304.55 | 1,168,281.70 | 79,095.46 | 20,460.11 | 26,990.24 | 1,807,151.58 |
| Including:foreigntradeincome | 560,415.78 | 1,168,281.70 | 69,780.74 | 8,673.36 | 1,807,151.58 | |
| Incomefromtransactionsbetweendivisions | 5,888.77 | 9,314.72 | 11,786.75 | 26,990.24 | ||
| Operationexpenses | 555,021.52 | 1,147,432.81 | 77,106.28 | 19,704.16 | 27,074.07 | 1,772,190.70 |
| Other | 6,855.16 | 8,827.55 | 228.44 | 2.40 | -138.03 | 16,051.58 |
| Totalprofit | 18,138.19 | 29,676.44 | 2,217.62 | 758.35 | -221.86 | 51,012.46 |
| Totalassets | 1,346,887.96 | 1,461,774.34 | 92,994.64 | 25,213.92 | 178,882.95 | 2,747,987.91 |
| Totalliability | 868,044.25 | 1,248,261.85 | 61,395.88 | 9,277.81 | 86,340.12 | 2,100,639.67 |
| Supplementaryinformation | ||||||
| Depreciationandamortizationexpenses | 11,671.01 | 8,523.65 | 153.73 | 421.43 | -10.49 | 20,780.31 |
| Capitalexpenditure | 13,171.18 | 14,252.52 | 0.61 | 247.65 | 27,671.96 |
Note:Totalassetsdonotincludedeferredincometaxassets,andtotalliabilitiesexcludedeferredincometaxliabilities.
XVI.Notestomainitemsoffinancialstatementofparentcompany
1.Accountreceivable
(1)Byaccountage
| Accountage | Balanceatyear-end | Balanceatyear-begin |
| Within1year（Including1year） | 2,072,291,787.44 | 844,020,537.28 |
Including：Within3months
| Including：Within3months | 1,960,777,263.43 | 804,602,070.05 |
| 3-6months | 94,614,258.11 | 37,341,630.48 |
| 6months-1year | 16,900,265.90 | 2,076,836.75 |
| 1-2years | 2,917,359.83 | 967,919.29 |
| 2-3years | 6,068,876.14 | 6,068,876.14 |
| Over3years | 46,551,037.50 | 46,551,037.50 |
| Total | 2,127,829,060.91 | 897,608,370.21 |
(2)Byaccrualofbaddebtprovision
1)Detail
| Category | Endingbalance | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Accountreceivablethatwithdrawalbaddebtprovisionbysingleitem | 1,183,806,587.03 | 55.63 | 58,349,972.31 | 4.93 | 1,125,456,614.72 |
| Including:Accountreceivablewithletterofcredit | 60,616,343.65 | 2.85 | 60,616,343.65 | ||
| Currentpaymentwithrelatedparty | 1,106,027,343.33 | 51.98 | 41,187,072.26 | 3.72 | 1,064,840,271.07 |
| Receivableswhosesingleamountisnotsignificantbutwhosesingleprovisionforbaddebts | 17,162,900.05 | 0.81 | 17,162,900.05 | 100.00 | |
| Category | Endingbalance | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Accountreceivablewithdrawalbaddebtprovisionbyportfolio | 944,022,473.88 | 44.37 | 20,356,937.57 | 2.16 | 923,665,536.31 |
| Including:accountreceivableofengineeringcustomers | 944,022,473.88 | 44.37 | 20,356,937.57 | 2.16 | 923,665,536.31 |
| Total | 2,127,829,060.91 | 100.00 | 78,706,909.88 | 3.70 | 2,049,122,151.03 |
（Continued）
| Category | Amountatyear-begin | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Accountreceivablethatwithdrawalbaddebtprovisionbysingleitem | 550,963,154.98 | 61.38 | 57,852,034.98 | 10.50 | 493,111,120.00 |
| Including:Accountreceivablewithletterofcredit | 24,607,781.54 | 2.74 | 24,607,781.54 | ||
| Currentpaymentwithrelatedparty | 506,527,455.83 | 56.43 | 40,131,974.45 | 7.92 | 466,395,481.38 |
| Receivableswhosesingleamountisnotsignificantbutwhosesingleprovisionforbaddebts | 19,827,917.61 | 2.21 | 17,720,060.53 | 89.37 | 2,107,857.08 |
| Accountreceivablewithdrawalbaddebtprovisionbyportfolio | 346,645,215.23 | 38.62 | 6,520,449.24 | 1.88 | 340,124,765.99 |
| Including:accountreceivableofengineeringcustomers | 346,645,215.23 | 38.62 | 6,520,449.24 | 1.88 | 340,124,765.99 |
| Total | 897,608,370.21 | 100.00 | 64,372,484.22 | 7.17 | 833,235,885.99 |
2)Accountreceivablewithdrawalbaddebtprovisionbyportfolio
| Accountage | Balanceatyear-end | ||
| Bookbalance | Baddebtprovision | Provisionratio(%) | |
| Accountage | Balanceatyear-end | ||
| Bookbalance | Baddebtprovision | Provisionratio(%) | |
| Within3months(3monthsincluded) | 861,730,454.73 | 8,617,304.55 | 1.00 |
| 3-6months | 73,527,797.59 | 7,352,779.76 | 10.00 |
| 6months-1year | 3,765,454.92 | 753,090.98 | 20.00 |
| 1-2years | 2,730,008.49 | 1,365,004.25 | 50.00 |
| 2-3years | 0.60 | 0.48 | 80.00 |
| Over3years | 2,268,757.55 | 2,268,757.55 | 100.00 |
| Subtotal | 944,022,473.88 | 20,356,937.57 | 2.16 |
（Continued）
| Accountage | Balanceatyear-begin | ||
| Bookbalance | Baddebtprovision | Provisionratio(%) | |
| Within3months(3monthsincluded) | 341,176,281.76 | 3,411,762.82 | 1.00 |
| 3-6months | 342,770.62 | 34,277.06 | 10.00 |
| 6months-1year | 2,076,836.75 | 415,367.35 | 20.00 |
| 1-2years | 780,567.95 | 390,283.98 | 50.00 |
| 2-3years | 0.60 | 0.48 | 80.00 |
| Over3years | 2,268,757.55 | 2,268,757.55 | 100.00 |
| Subtotal | 346,645,215.23 | 6,520,449.24 | 1.88 |
(3)Changesinbaddebtprovisions
1)Detail
| Category | Balanceatyear-begin | Changesthisyear | Balanceatyear-end | |||
| Accrual | Resaleorwrite-off | Other | ||||
| Withdrawalbaddebtprovisionbysingleitem | 57,852,034.98 | 1,036,344.25 | 538,406.92 | 58,349,972.31 | ||
| Category | Balanceatyear-begin | Changesthisyear | Balanceatyear-end | |||
| Accrual | Resaleorwrite-off | Other | ||||
| Withdrawalbaddebtprovisionbyportfolio | 6,520,449.24 | 13,836,488.33 | 20,356,937.57 | |||
| Total | 64,372,484.22 | 14,872,832.58 | 538,406.92 | 78,706,909.88 | ||
(5)Top5accountsreceivableandcontractassetsamountTop5receivablescollectedbyarrearspartyamountingto500,242,601.58yuanintotal,accountedfor23.51%ofthereceivablesofcurrentyear-end,thebaddebtprovisionaccrualcorrespondinglyamountingto24,509,098.18yuanatyear-endbalance.
2.Otheraccountreceivable
(1)Detail
| Item | Balanceatyear-end | Balanceatyear-begin |
| Dividendreceivable | 12,124,951.70 | |
| Otheraccountreceivable | 67,308,839.63 | 137,057,080.76 |
| Total | 67,308,839.63 | 149,182,032.46 |
(2)DividendreceivableDetail
| Item | Balanceatyear-end | Balanceatyear-begin |
| SichuanZhiyijiaNetworkTechnologyCo.,Ltd | 11,849,751.70 | |
| SichuanHongyunNewGenerationInformationTechnologyVentureCapitalFundPartnershipEnterprise(LimitedPartnership | 275,200.00 | |
| Subtotal | 12,124,951.70 |
(3)Otherreceivable
1)Categoryofotheraccountreceivable
| Item | Balanceatyear-end | Balanceatyear-begin |
| Item | Balanceatyear-end | Balanceatyear-begin |
| Loansofemployee’sprettycash | 9,026,605.63 | 5,755,189.42 |
| Cashdeposit | 4,480,139.99 | 4,369,898.32 |
| Exportrebate | 24,659,484.61 | 95,274,068.20 |
| Relatedparty | 29,796,768.60 | 31,839,049.68 |
| Other | 356,265.42 | 473,034.34 |
| Total | 68,319,264.25 | 137,711,239.96 |
2)Byaccountage
| Accountage | Balanceatyear-end | Balanceatyear-begin |
| Within3months(3monthsincluded) | 29,402,348.78 | 105,115,890.25 |
| 3-6months | 2,774,050.88 | 370,007.17 |
| 6months-1year | 3,778,594.37 | 971,808.01 |
| 1-2years | 1,820,224.58 | 1,486,879.41 |
| 2-3years | 909,242.00 | 313,350.00 |
| Over3years | 29,634,803.64 | 29,453,305.12 |
| Total | 68,319,264.25 | 137,711,239.96 |
3)Byaccrualofbaddebtprovision
①Detail
| Category | Endingbalance | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Thatwithdrawalbaddebtprovisionbysingleitem | 68,319,264.25 | 100.00 | 1,010,424.62 | 1.48 | 67,308,839.63 |
| Inwhich:otherreceivableswithnomajorindividualamountbutbaddebtprovision | 13,863,011.04 | 20.29 | 1,010,424.62 | 7.29 | 12,852,586.42 |
| Category | Endingbalance | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| accruedindividually | |||||
| Exportrebatereceivable | 24,659,484.61 | 36.10 | 24,659,484.61 | ||
| Otherreceivablesunderthesamecontrolandofrelatedpartieswithsignificantinfluence | 29,796,768.60 | 43.61 | 29,796,768.60 | ||
| otherreceivablesaccruedbyagingportfolio | |||||
| Subtotal | 68,319,264.25 | 100.00 | 1,010,424.62 | 1.48 | 67,308,839.63 |
（Continued）
| Category | Balanceatyear-begin | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Thatwithdrawalbaddebtprovisionbysingleitem | 137,711,239.96 | 100.00 | 654,159.20 | 0.48 | 137,057,080.76 |
| Inwhich:otherreceivableswithnomajorindividualamountbutbaddebtprovisionaccruedindividually | 10,598,122.08 | 7.70 | 654,159.20 | 6.17 | 9,943,962.88 |
| Exportrebatereceivable | 95,274,068.20 | 69.18 | 95,274,068.20 | ||
| Otherreceivablesunderthesamecontrolandofrelatedpartieswithsignificantinfluence | 31,839,049.68 | 23.12 | 31,839,049.68 | ||
| otherreceivablesaccruedbyagingportfolio | |||||
| Category | Balanceatyear-begin | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Ratio(%) | ||
| Subtotal | 137,711,239.96 | 100.00 | 654,159.20 | 0.48 | 137,057,080.76 |
4)Changesinbaddebtprovisions
①Detail
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Subtotal |
| Expectedcreditlossinnext12months | Expectedcreditlossforthewholeduration(nocreditimpairment) | Expectedcreditlossforthewholeduration(creditimpairmenthasoccurred) | ||
| Balanceatyear-begin | 654,159.20 | 654,159.20 | ||
| Balanceatyear-begininCurrentYear | —— | —— | —— | |
| --Transfertothesecondstage | ||||
| --Transfertothethirdstage | ||||
| --Reversaltothesecondstage | ||||
| --Reversaltothefirststage | ||||
| ProvisioninCurrentYear | 356,265.42 | 356,265.42 | ||
| ReversalinCurrentYear | ||||
| WriteoffinCurrentYear |
AnnotationsofFinancialStatementsofChanghongMeilingCo.,Ltd.
From1January2025to30June2025(Unlessotherwisespecified,RMBforrecordintheStatement)
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Subtotal |
| Expectedcreditlossinnext12months | Expectedcreditlossforthewholeduration(nocreditimpairment) | Expectedcreditlossforthewholeduration(creditimpairmenthasoccurred) | ||
| Otherchange | ||||
| Balanceatyear-end | 1,010,424.62 | 1,010,424.62 |
②Baddebtprovisionforotherreceivablesaccrued,recoveredorreversedthisyear
| Category | Year-beginning | Amountofchangethisyear | Year-end | |||
| Accrual | Recoveryorreverasl | Write-offorcancellation | Other | |||
| Withdrawalbaddebtprovisionbysingleitem | 654,159.20 | 356,265.42 | 1,010,424.62 | |||
| Total | 654,159.20 | 356,265.42 | 1,010,424.62 | |||
5)Top5otherreceivables
| Name | Nature | Balanceatyear-end | Accountage | Proportionintotalotherreceivablesendingbalance(%) | BaddebtprovisionBalanceatyear-end |
| UnitI | Exportrebates | 24,659,484.61 | Within3months | 36.09 | |
| UnitII | Employeepettycash | 1,467,720.00 | Within3months,6months-1year | 2.15 | |
| UnitIII | Employeepettycash | 1,214,824.51 | Within3months,3-6months,1-2years | 1.78 | |
| UnitIV | Employeepettycash | 1,087,984.07 | 3Within3months | 1.59 |
| Name | Nature | Balanceatyear-end | Accountage | Proportionintotalotherreceivablesendingbalance(%) | BaddebtprovisionBalanceatyear-end |
| ,UnitV | Employeepettycash | 744,600.00 | 3Within3months | 1.09 | |
| Total | 29,174,613.19 | 42.70 |
3.Long-termequityinvestments
(1)Detail
| Item | Endingbalance | ||
| Bookbalance | Impairmentloss | Bookvalue | |
| Investmentinsubsidiaries: | 2,087,985,053.01 | 2,087,985,053.01 | |
| Investmentinassociates: | 78,502,459.16 | 78,502,459.16 | |
| Total | 2,166,487,512.17 | 2,166,487,512.17 | |
（Continued）
| Item | Openingbalance | ||
| Bookbalance | Impairmentloss | Bookvalue | |
| Investmentinsubsidiaries: | 1,988,985,053.01 | 1,988,985,053.01 | |
| Investmentinassociates: | 74,340,161.06 | 74,340,161.06 | |
| Total | 2,063,325,214.07 | 2,063,325,214.07 | |
(2)Investmentinsubsidiaries
| Investedenterprise | Openingbalance | ChangesinCurrentPeriod |
| Bookvalue | Impairmentloss | AdditionalInvestment | NegativeInvestment | Provisionforimpairmentloss | Other | |
| ZhongkeMeilingCryogenicTechnologyCo.,Ltd | 42,652,000.00 | |||||
| MianyangMeilingRefrigerationCo.,Ltd. | 95,000,000.00 | |||||
| MianyangChonghongIntellegenceApplianceCo.,Ltd. | 99,000,000.00 | |||||
| ZhongshanChanghongElectricCo.,Ltd | 304,856,419.37 | |||||
| SichuanChanghongAir-conditionerCo.,Ltd | 955,600,437.79 | |||||
| HefeiMeilingGroupHoldingsLimited | 113,630,000.00 | |||||
| JiangxiMeilingElectricApplianceCo.,Ltd. | 79,000,000.00 | |||||
| ChanghongMeilingRidianTechnologyCo.,Ltd. | 91,082,111.12 | |||||
| HefeiMeilingWulianTechnologyCo.,Ltd. | 10,000,000.00 | |||||
| CH-Meiling.International(Philippines)Inc. | 6,889,100.00 | |||||
| HefeiChanghongMeilingLifeAppliancesCo.,Ltd. | 35,000,000.00 | |||||
| SichuanHongmeiIntellgenceTechnologyCo.,Ltd. | 22,725,052.60 | |||||
| HefeiChanghongIndustryCo.,Ltd. | 232,549,932.13 | |||||
| Subtotal | 1,988,985,053.01 | 99,000,000.00 |
（Continued）
| Investedenterprise | Endingbalance | |
| Bookbalance | Impairmentloss | |
| Investedenterprise | Endingbalance | |
| Bookbalance | Impairmentloss | |
| ZhongkeMeilingCryogenicTechnologyCo.,Ltd | 42,652,000.00 | |
| MianyangMeilingRefrigerationCo.,Ltd. | 95,000,000.00 | |
| MianyangChonghongIntellegenceApplianceCo.,Ltd. | 99,000,000.00 | |
| ZhongshanChanghongElectricCo.,Ltd | 304,856,419.37 | |
| SichuanChanghongAir-conditionerCo.,Ltd | 955,600,437.79 | |
| HefeiMeilingGroupHoldingsLimited | 113,630,000.00 | |
| JiangxiMeilingElectricApplianceCo.,Ltd. | 79,000,000.00 | |
| ChanghongMeilingRidianTechnologyCo.,Ltd. | 91,082,111.12 | |
| HefeiMeilingWulianTechnologyCo.,Ltd. | 10,000,000.00 | |
| CH-Meiling.International(Philippines)Inc. | 6,889,100.00 | |
| HefeiChanghongMeilingLifeAppliancesCo.,Ltd. | 35,000,000.00 | |
| SichuanHongmeiIntellgenceTechnologyCo.,Ltd. | 22,725,052.60 | |
| HefeiChanghongIndustryCo.,Ltd. | 232,549,932.13 | |
| Subtotal | 2,087,985,053.01 | |
(3)Investmentinassociates
| Investedenterprise | Beginningbalance | ChangesinCurrentPeriod | ||||
| Bookvalue | Impairmentloss | AdditionalInvestment | NegativeInvestment | Investmentincomerecognizedunderequity | Adjustmentforothercomprehensiveincome | |
| HefeiXingmeiAssetsManagementCo.,Ltd. | 14,164,491.99 | 1,488.35 | ||||
| SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | 60,175,669.07 | 4,835,600.70 | ||||
AnnotationsofFinancialStatementsofChanghongMeilingCo.,Ltd.
From1January2025to30June2025(Unlessotherwisespecified,RMBforrecordintheStatement)
| Investedenterprise | Beginningbalance | ChangesinCurrentPeriod | ||||
| Bookvalue | Impairmentloss | AdditionalInvestment | NegativeInvestment | Investmentincomerecognizedunderequity | Adjustmentforothercomprehensiveincome | |
| Total | 74,340,161.06 | 4,837,089.05 | ||||
（Continued）
| Investedenterprise | ChangesinCurrentPeriod | Endingbalance | ||||
| Otherequitychange | Cashdividendorprofitannouncedtoissued | Provisionforimpairmentloss | Other | Bookvalue | Impairmentloss | |
| HefeiXingmeiAssetsManagementCo.,Ltd. | 14,165,980.34 | |||||
| SichuanZhiyijiaNetworkTechnologyCo.,Ltd. | 674,790.95 | 64,336,478.82 | ||||
| Total | 674,790.95 | 78,502,459.16 | ||||
(II)Profitstatementitemnotesofparentcompany
1.Operationincome,operationcost
(1)Detail
| Item | CurrentPeriod | LastPeriod | ||
| Income | Cost | Income | Cost | |
| Mainbusiness | 4,643,697,112.91 | 4,076,775,488.87 | 4,736,689,610.11 | 4,319,866,502.23 |
| Otherbusiness | 295,958,421.24 | 271,930,200.67 | 233,213,037.21 | 213,049,683.92 |
| Total | 4,939,655,534.15 | 4,348,705,689.54 | 4,969,902,647.32 | 4,532,916,186.15 |
(2)Incomeinformation
| Item | CurrentYear | LastYear |
| Income | Cost | Income | Cost | |
| Product | ||||
| Air-conditioning | 2,388,159.28 | 2,388,170.75 | 3,193,017.71 | 3,193,033.03 |
| Refrigerator | 3,553,250,909.02 | 3,134,690,054.32 | 3,855,961,141.78 | 3,537,763,720.65 |
| Washingmachine | 979,953,883.74 | 845,538,266.35 | 765,993,263.60 | 684,787,139.73 |
| Smallhouseholdappliancesandkitchenandbathroom | 108,104,160.87 | 94,158,997.45 | 111,542,187.02 | 94,122,608.82 |
| Other | 295,958,421.24 | 271,930,200.67 | 233,213,037.21 | 213,049,683.92 |
| Area | ||||
| Domestic | 2,461,842,181.03 | 2,197,992,715.31 | 2,731,861,997.32 | 2,572,947,105.99 |
| Overseas | 2,477,813,353.12 | 2,150,712,974.23 | 2,238,040,650.00 | 1,959,969,080.16 |
| Total | 4,939,655,534.15 | 4,348,705,689.54 | 4,969,902,647.32 | 4,532,916,186.15 |
2.Investmentincome
| Item | CurrentYear | LastYear |
| Long-termequityinvestmentincomebyequitymethod | 4,837,089.05 | 6,158,368.75 |
| Dispositionoftheinvestmentincomegeneratedbythelong-termequityinvestments | 38,829.19 | |
| Long-termequityinvestmentincomebyCostmethod | 3,672,000.00 | 4,590,000.00 |
| Investmentincomeobtainedfromthedisposaloftradingfinancialassets | 8,556,050.14 | 2,244,378.39 |
| Investmentincomeobtainedfromdisposalofderivativefinancialassets | -9,549,788.20 | -4,940,274.02 |
| Interestincomefromdebtinvestmentduringtheholdingperiod | 13,700,694.44 | 6,946,457.96 |
| Investmentincomeofothernon-currentfinancialassetsduringholdingperiod | 13,209,863.22 | 12,912,196.37 |
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost | 556,040.92 | -2,635,478.39 |
| Investmentincomeofothercurrentassetsduringtheholdingperiod | 1,394,444.44 |
| Total | 35,020,778.76 | 26,670,093.50 |
XVII.OtherSupplementaryinformation
1.Non-recurringgainsandlossesforthisyear
(1)Detail
| Item | Amount | Note |
| Non-currentassetdisposalgain/loss(includingthewrite-offpartforwhichassetsimpairmentprovisionismade) | -1,706,605.18 | |
| Governmentsubsidiesrecognizedincurrentgainandloss(excludingthosecloselyrelatedtotheCompany’sbusinessandgrantedunderthestate’spolicies) | 34,956,110.73 | |
| Losses/gainsfromchangesoffairvaluesoccurredinholdingtradingfinancialassetsandtradingfinancialliabilities,andinvestmentincomeobtainingfromthedisposaloftradingfinancialassets,tradingfinancialliabilityandfinancialassetsavailable-for-sale,excludedeffectivehedgingbusinessrelevantwithnormaloperationsoftheCompany | -12,600,475.24 | |
| Reversaloftheaccountreceivabledepreciationreservessubjecttoseparateimpairmenttest | 9,898,942.17 | |
| Debtrestructuringgainsandlosses | 84,052.53 | |
| Othernon-operatingincomeandexpensesotherthantheabove | 1,640,700.10 | |
| Subtotal | 32,272,725.11 | |
| Less:Impactnumberofenterpriseincometax | 3,625,743.11 | |
| Impactonminorityshareholders’equity(post-tax) | 2,506,761.26 | |
| Netnon-recurringgainsandlossesattributabletotheowneroftheparentcompany | 26,140,220.74 |
2.Returnonequityandearningspershare
| Profitduringthereportperiod | Weightedaveragereturnonequity | Earningspershare/EPS(RMB/Share) | |
| BasicEPS | DilutedEPS | ||
| Profitduringthereportperiod | Weightedaveragereturnonequity | Earningspershare/EPS(RMB/Share) | |
| BasicEPS | DilutedEPS | ||
| Netprofitattributabletoordinaryshareholdersoftheparentcompany | 6.63 | 0.4051 | 0.4051 |
| Netprofitattributabletoordinaryshareholdersoftheparentcompanyafterdeductionofthenon-recurringgains/losses | 6.21 | 0.3797 | 0.3797 |
ChanghongMeilingCo.,Ltd.
Chairman:WuDinggang
August21,2025