CHANGHONG MEILING CO., LTD.
THE THIRD QUARTERLY REPORT FOR 2020
October 2020
Section I. Important NotesBoard of Directors and the Supervisory Committee of Changhong Meiling Co., Ltd. (hereinafter referred to as theCompany) and its directors, supervisors and senior executives hereby confirm that there are no any fictitiousstatements, misleading statements, or important omissions carried in this report, and shall take all responsibilities,individual and/or joint, for the reality, accuracy and completion of the whole contents.Principal of the Company Mr. Wu Dinggang, Person in Charge of Accounting Works Mr. Pang Haitao and Personin Charge of Accounting Organ (Accounting Officer) Mr. Yang Jun hereby confirm that the Financial Report ofthe Third Quarterly Report is authentic, accurate and complete.Prompt of non-standard audit opinion
□ Applicable √ Not applicable
Third quarterly report of 2020 has not been audited.All directors of the Company are attended the Meeting for quarterly report deliberation.
Section II. Basic information of Company
I. Main accounting data and indexWhether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes √No
End of this period End of last period
Changes of this period-end over
same period-end of last yearTotal assets (RMB) 15,452,014,816.87
14,202,233,615.47
8.80%
Net assets attributable toshareholders of listed company(RMB)
4,825,837,316.31
5,004,947,673.36
-3.58%
Current period
Increase/decrease incomparison with sameperiod of last year
Year-begin to endof the Period
Increase/decrease incomparison with year-
Period-end of last yearOperating revenue (RMB) 4,560,882,229.12
| begin to | ||
16.71%
11,356,742,966.11
-12.92%
Net profit attributable toshareholders of the listed company(RMB)
86,575,054.56
227.71%
-123,555,526.37
-253.01%
Net profit attributable toshareholders of the listed companyafter deducting non-
| recurring gains |
and losses (RMB)
16,310,383.26
82.12%
-240,824,280.10
-1,893.02%
Net cash flow arising fromoperating activities (RMB)
109,494,010.35
163.56%
-278,610,948.06
-238.46%
Basic earnings per share(RMB/Share)
0.0829
227.67%
-0.1183
-253.04%
Diluted earnings per share(RMB/Share)
0.0829
227.67%
-0.1183
-253.04%
Weighted average ROE 1.81%
1.28 percentage points up
-2.51%
4.11 percentage points down
Items and amount of extraordinary profit (gains)/losses
√Applicable □Not applicable
In RMBItem
Amount from year-begin
to end of the Period
NoteGains/losses from the disposal of non-current asset (including thewrite-off that accrued for impairment of assets)
-542,955.36
Found more in “Income from assetsdisposal”
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Governmental subsidy reckoned into current gains/losses (notincluding the subsidy enjoyed in quota or ration according tonational standards, which are closely relevant to enterprise’sbusiness)
69,462,400.24
Found more in “Other income”Except for the effective hedging business relevant with normaloperations of the Company, gains/losses from change of the fairvalue for holding the trading financial assets, derivative financialassets, trading financial liabilities and derivative financialliability, as well as the investment income from disposing thetrading financial assets, derivative financial assets, tradingfinancial liabilities, derivative financial liability and othercreditors’ investment
62,504,367.95
| Found more in “investment income”, |
“Changes in fair value”,
Switch-back of the receivables for separate impairment tests andprovision for impairment of contract assets
1,809,494.78
Found more in “Accounts
receivable”Other non-operation income and expenditure except for theaforementioned items
3,865,646.51
Found more in “Non-operation
income”, “Non-operation
expenditure”Less: impact on income tax 19,492,847.45
-- Impact on minority shareholders’ equity (post-tax) 337,352.94
--Total 117,268,753.73
--Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for CompaniesOffering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according tothe lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering TheirSecurities to the Public --- Extraordinary Profit/loss, explain reasons
□Applicable √Not applicable
The Company has no items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&AAnnouncement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss, inthe period
II. Total number of shareholders at the end of this report period and top ten shareholders
1. Number of common shareholders and preference shareholders with voting rights recovered and top ten
common shareholders
In sharesTotal number of commonshareholders at the end of reportperiod
60,751
Total preference shareholders
| 60,751 | with voting rights recovered at |
end of reporting period (ifapplicable)
Top ten shareholdersShareholder’s nameNature of shareholder
Pr
of shares
held
Amount ofshares held
| oportion | Amount of |
restricted
shares
held
Number of sharepledged/frozenState ofshare
AmountSichuan Changhong Electric Co., Ltd.
State-owned legalperson
23.79%
248,457,724
--
--
Hefei Industrial Investment Holding (Group)Co., Ltd.
State-owned legalperson
4.58%
47,823,401
--
--
CHANGHONG (HK) TRADING LIMITED Foreign legal person 2.59%
27,077,797
--
--
Ma Guobin
| Domestic natural person |
1.82%
19,030,000
--
--
CAO SHENGCHUN Foreign natural person 1.41%
| 14,766,086 |
--
--
Caitong Fund- Ningbo Bank-Haitong Xingtai(Anhui) Emerging Industry Investment Fund(Limited Partnership)
Domesticnon-state-owned legalperson
1.03%
10,733,452
--
--
| Shanghai Fangda Investment Management Co., |
Ltd.
Domesticnon-state-owned legalperson
0.91%
9,510,800
--
--
Phillip Securities (Hong Kong) Limited Foreign legal person 0.60%
6,296,913
--
--
China Securities Finance Corporation Limited
Domesticnon-state-owned legalperson
0.42%
4,362,500
--
--
Long Qinfang Foreign natural person 0.34%
3,558,116
--
--
Particular about top ten shareholders with un-restrict shares heldShareholders’ name
Amount of unrestricted
shares held
Type of sharesType AmountSichuan Changhong Electric Co., Ltd. 248,457,724
RMB ordinary shares
248,457,724
Hefei Industrial Investment Holding (Group) Co., Ltd. 47,823,401
RMB ordinary shares
47,823,401
CHANGHONG (HK) TRADING LIMITED 27,077,797
| Domestically listed foreign |
shares
27,077,797
Ma Guobin 19,030,000
RMB ordinary shares
19,030,000
CAO SHENGCHUN 14,766,086
| Domestically listed foreign |
shares
14,766,086
Caitong Fund- Ningbo Bank-Haitong Xingtai (Anhui)Emerging Industry Investment Fund (Limited Partnership)
10,733,452
RMB ordinary shares
10,733,452
Shanghai Fangda Investment Management Co., Ltd. 9,510,800
RMB ordinary shares
9,510,800
Phillip Securities (Hong Kong) Limited 6,296,913
| Domestically listed foreign |
6,296,913
shares
China Securities Finance Corporation Limited 4,362,500
RMB ordinary shares
4,362,500
Long Qinfang 3,558,116
| Domestically listed foreign |
shares
3,558,116
Explanation on associatedrelationship or consistentactors among the aforesaidshareholders
Among the above shareholders, CHANGHONG (HK) TRADING LIMITED (hereinafter referred toas Hong Kong Changhong) is the wholly-owned subsidiary of Sichuan Changhong Electric Co., Ltd.;except the shares of the Company directly held by Hong Kong Changhong, 6,296,913 shares ofB-stock are also held through Phillip Securities (Hong Kong) Limited, the foregoing shareholdersconstitute persons of uniform action. There existed no associated relationship or belong to theconcerted actors as specified in the Measures for the Administration of Information Disclosure ofShareholder Equity Changes of Listed Companies among Sichuan Changhong, Hong KongChanghong and other top 7 shareholders (Excluding Phillip Securities (Hong Kong) Limited);“Caitong Fund- Ningbo Bank-Haitong Xingtai (Anhui) Emerging Industry Investment Fund (LimitedPartnership) ” refers to the products of Caitong Fund Management Company subscribe for privatelyplacement of 2016; The company neither knows whether there is any association among othershareholders, nor knows whether other shareholders belong to the persons acting in concert that isstipulated in the “Administrative Measures on Information Disclosure of Changes in Shareholding ofListed Companies”.Explanation on top tencommon shareholdersinvolving margin business(if applicable)
As of 30
th
September 2020, among the top 10 common shareholders, Ma Guobin holds 18,330,000shares of the Company through customer credit trading secured account of Founder Securities Co.,Ltd., and 700,000 shares hold through common securities account, thus 19,030,000 shares of theCompany are held in total. The shareholder-Shanghai Fangda Investment Management Co., Ltd.,customer credit transaction guaranteed securities account of Guoyuan Securities Co., Ltd holds9,510,800 shares of the Company.Note 1: At end of the reporting period, the person acting in concert with controlling shareholder SichuanChanghong-- CHANGHONG (HK) TRADING LIMITED, holds B-stock of the Company as 33,374,710 shares,among which, Changhong (Hong Kong) Trading Co., Ltd. 6,296,913 shares are held through Philip Securities(H.K.) Co., Ltd.Note 2: In the above table, "Particulars about shares held above 5% by common shareholders or top 10 commonshares holding" is subject to the data on stock transfer books provided by China Securities Depository andClearing Corporation Limited Shenzhen Branch
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have abuy-back agreement dealing in reporting period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Companyhave no buy-back agreement dealing in reporting period.
2. Total shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held
□ Applicable √ Not applicable
Section III. Important events
I. Particular about major changes from items of main accounting statements and financialindexes as well as reasons
√ Applicable □Not applicable
(i) Changes of items of balance sheet and cause analysis
In RMBItem Closing balance Opening balance
Changes
Reasons
| Tradable financial assets | 28,451,689.69 | 7,730,268.92 | 268.06% | This was mainly due to changes in the fair value of forward foreign exchange contracts carried out by the company during the current period. |
| Account receivable | 2,474,469,751.84 | 1,387,961,981.66 | 78.28% | This was mainly due to the increase in accounts receivable from the parent company and its subsidiaries Meiling Group, Changhong Air Conditioning, and Zhongshan Changhong in the current period. |
102,147,656.
| Account paid in advance | 59 | 25,270,406.37 | 304.22% | This was mainly due to the increase in the company's prepayments for purchasing raw materials during the current period. |
| Other current assets | 247,545,304.92 | 63,604,031.96 | 289.20% | This was mainly due to the increase in the company's financial products during the current period. |
-current
| financial assets |
| 542,540,000.00 | 45,000,000.00 | 1105.64% | This was mainly due to the company's investment in Sichuan Changhong Group Finance Co., Ltd. in the current period. |
state
| Investment real e | 54,357,952.53 | 96,343,760.13 |
-
| 43.58% | This was mainly due to the transfer of the company's investment real estate into fixed assets in the current period. |
| Construction in progress | 110,309,222.32 | 252,494,792.31 |
-
| 56.31% | This was mainly due to the transfer of the company's construction in progress into fixed assets in the current period. |
| Tradable financial liability | 3,846,486.01 | 1,081,534.93 | 255.65% | This was mainly due to changes in the fair value of forward foreign exchange contracts carried out by the company during the current period. |
| Taxes Payable | 106,761,494.22 | 68,558,391.66 | 55.72% | This was mainly due to the increase in the value |
-
| added tax payable by Changhong Air Conditioning, a subsidiary of the company, in the current period. | ||
| Non |
-current liability
| 405,676,176.26 | 1,708,193.90 | 23648.84% | This was mainly due to the reclassification of the parent |
| due within one year | company’s long |
-term loans due within one year.
-term loans
| Long | 192,640,000.00 | 401,280,000.00 |
-
| 51.99% | This was same as "non |
-current li
| abilities due within one year". | ||
| Long |
-term payables
| 1,878,823.17 | 3,016,921.44 |
-
| 37.72% | This was mainly due to the payment of the company's financial lease payments in the current period. |
| Deferred income tax liability | 8,611,131.03 | 6,256,759.14 | 37.63% | This was mainly due to the recognition of deferred income tax liabilities for changes in the fair value of the company's forward foreign exchange contracts during the current period. |
(ii) Changes of items of profit statement and cause analysis
In RMB
Item Current Period
| Same period of last |
year
Changes ReasonsR&D expenses
| 264,619,301.52 | 194,093,406.99 | 36.34% | This was mainly due to the year |
-on-
Financial expenses -
| year increase in amortization of R&D assets and R&D trial production during the current period. | ||
| 1,509,899.93 |
-
| 9,844,161.99 | 84.66% | This was mainly due to the year |
-on-
Assets impairmentloss -
year decrease in interestincome from the subsidiary Changhong Air Conditioning inthe current period.34,714,276.42
-
| 34,714,276.42 | 24,702,231.08 |
-
| 40.53% | T |
his was mainly due to the year-on-
Credit impairmentloss
-
year increase inimpairment losses of the company's inventory assets duringthe current period.33,008,077.62
| 33,008,077.62 | 1,082,468.11 |
-
| 3149.33% | This was mainly due to the year |
-on-
Income from fairvalue changes
| year increase in impairment losses of the company's notes receivable and accounts receivable during the current period. | ||
| 17,956,801.15 |
-
| 43,185,470.53 | 58.42% | This was mainly due to changes in the fair value of forward foreign exchange contracts carried out by the company during the current period. |
Investment income
-
| 47,154,706.68 | 38,327,115.65 | 223.03% | This was mainly due to the decrease in the foreign exchange losses of Zhongshan Changhong, a subsidiary of the company, and the parent company's receipt of profit distribution from the shareholding companies during the current period. |
Income from assetsdisposal
-
-
| 542,955.36 | 4,436,536.97 | 87.76% | This was mainly due to the year |
-on-
Non-operationexpenditure
year decrease in thecompany's disposal of some asset losses in the currentperiod.
1,206,761.93
| 1,206,761.93 | 3,776,106.23 |
-
| 68.04% | This was mainly due to the removal expenses of the subsidiary Changhong Air Conditioning in the same period last year, and there was no such mat |
ter in the current period.
| Income tax expenses | 1,746,437.69 |
-
| 36,397,055.33 | 95.20% | This was mainly due to the decrease in the company's taxable income during the current period. |
Gains/losses ofminorityshareholders
-
-11,984,
| 2,151,849.18 | 976.39 | 82.05% | This was mainly due to the year |
-on-
-wholly-
| owned subsidiaries of the company during the current period. |
(iii) Changes of items of cash flow statement and cause analysis
In RMBItem Current Period
Same period of
last year
Changes
Reasons
| Refunds of taxes | 412,733,445.22 |
| 280,384,080.90 | 47.20% | This was mainly due to the year |
-on-
| year increase in export tax rebates received by the company during the current period. | ||
| Taxes paid |
| 237,937,839.39 | 448,423,347.16 |
-
| 46.94% | This was mainly due to the year |
-on-
year decrease inthe company's VAT payment in the current period.Cash received from investmentrecovery
| Cash received from investment recovery | 737,460,000.00 |
-
| 2,174,000,000.00 | 66.08% | This was mainly due to the year |
-on-year de
| crease in the company's withdrawal of entrusted wealth management after its expiration. | ||
| Net cash received from disposal of fixed assets, intangible assets and other long |
-term assets
| 381,041.58 | 19,483,459.24 |
-
| 98.04% | This was mainly due to the |
-on-
| year decrease in cash received . |
concerning
| investment activities |
| - | 76,709,995.61 |
-100.00%
| This was mainly due to the delivery loss of the company's forward foreign exchange contracts in the previous period, but none in the current period. |
| Cash received by borrowing | 1,703,478,583.33 |
| 1,308,256,908.10 | 30.21% | This was mainly due to the |
year-on-
| year increase in loans obtained by the company during the current period. | ||
| Other cash paid |
concerning
| financing activities | 2,432,566.62 | 32,764,857.16 |
-
| 92.58% | This was mainly because the use of the company's financing margin was restricted in the previous period, but none in the current period. |
-
| Influence on cash and cash equivalents due to fluctuation in exchange rate | 18,563,610.41 | 12,976,331.25 |
-
| 243.06% | This was mainly due to changes in foreign currency exchange rates durin |
g the current period.
II. Analysis and explanation of significant events and their influence and solutions
√ Applicable □Not applicable
(i) Implementation for annual performance incentive fundOn August 9, 2012 and August 28, 2012, the Company considers the adoption of "Hefei Meiling annualperformance incentive fund implementation plan" (hereinafter referred to as "" stimulus "") on the 16
thmeeting of
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)the 7
th
board of directors and the 2012-second provisional shareholders meeting. Details were disclosed oninformation disclosure media appointed by the Company as "Securities Times", "Chinese Securities Daily","Hong Kong Commercial Daily" and the Juchao network (www.cninfo.com.cn) on August 10, 2012 and August29 in the form of announcement (No.: 2012-028, No.:2012-035).
1. Implementation about 2012, 2013, 2014 and 2016 performance incentive fund provision and distribution
planSee details in "Implementation of the company's annual incentive fund" in "XV Implementation of the company'sstock incentive plan, employee stock ownership plan, or other employee incentive measures" in "Section VImportant Events" of the company's "2019 Annual Report" disclosed on 28 March 2020.All the stocks purchased by the incentive object are locked according to their promises. Up to the end of thisreporting period, the company's stock purchased by 2012 annual performance incentive objects (non-directors,supervisors and senior management), 2013 annual performance incentive objects (non-directors, supervisors andsenior management), the 2014 annual performance incentive objects (non-directors, supervisors and seniormanagement) with their granted 2012 annual performance incentive funds and own funds and 2013 & 2014annual performance incentive funds and own funds have been fully released for trading; the stock purchased by2016 annual performance incentive objects (non-directors, supervisors and senior management), with their granted2016 annual performance incentive funds and own funds are expired for two years or three years, some of thestock shall be released for trading, details of the share reduction for the above mentioned objects see below. In thePeriod, the Company’s shares purchased by the current directors, supervisors and senior executives among theperformance incentive targets due to the implementation of the 2012, 2013, 2014 and 2016 annual performanceincentive plans have not reduced the shareholdings.
2. Shareholding and reducing of performance incentive objects of the Company
Ended as 30 September 2020, shares hold by all incentive objects amounting to 10,542,267 shares, a 1.0092 % intotal share capital of the Company, including 8,852,374 A-share, a 0.8474% in total share capital and 1,689,893B-share, a 0.1618% in total share capital of the Company. Other grantees of the 2012, 2013, 2014 and 2016incentive plan have reduced holding of 5,971,548 in aggregate, accounting for about 0.5717% of the total sharecapital and 657,950 shares are reduced in the reporting period.(ii) Transaction with Sichuan Changhong Group Finance Co., LtdAccording to The Proposal on Continuing Related Transactions with Sichuan Changhong Group Finance Co., Ltd.in 2020 approved by the deliberation of the 31
st
meeting of the ninth board of directors and the 16
thmeeting of theninth board of supervisors and the fourth extraordinary general meeting of shareholders in 2019 held onNovember 29 and December 17, 2019, and approved by resolution of the 41
st
meeting of the ninth board ofdirectors and the fourth extraordinary general meeting of shareholders held on August 14 and October 12, 2020,approved and agreed the company to continue carry out the financial service cooperation with SichuanChanghong Group Finance Co., Ltd. (hereinafter referred to as “Changhong Finance Company”) and sign atriennial Financial Service Agreement, Changhong Finance Company shall provide a series of financial servicessuch as deposit and loan in its business scope according to the requirements of the Company and its subsidiaries.The related transactions between the company and its subsidiaries and Changhong Finance Company from the
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)beginning of the year to the end of the reporting period are as follows:
In RMBItem Opening balance
Increased during theperiod
Decreased during the
period
Ending balance
Interest,handling charge
paid or receivedI. Savings inChanghong GroupFinance Company
3,702,382,630.38 30,232,646,408.28 30,929,151,163.32 3,005,877,875.34 90,205,609.83II. Borrowingsfrom ChanghongGroup FinanceCompany
1.Short-term loans
- 125,000,000.00 125,000,000.00 - 60,638.89
2.Long-term loans
- - - - -III. Other financialbusiness
1.Notes drawing
999,585,345.49 1,878,178,189.69 1,447,378,038.27 1,430,385,496.91 941,235.22
2.Notes discounted
638,333,179.10 1,421,196,636.62 1,174,415,376.15 885,114,439.57 9,724,660.64
(iii) Other significant events
Overview
Date fordisclosure
Information index for temporary
report disclosure
will recover all the remaining investme
| nt in advance, which are under the No. 135 directional assets management plan issued by Soochow Securities Co., Ltd. (hereinafter, Soochow Securities) subscribed in the earlier period. |
January 2, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2019-094)
credit guarantee to its wholly-
| owned and controlling subsidiaries with |
3670 million yuan in total for year of 2020.
current year shall be one year.
December 26,
| The guarantee period for the newly added guarantee lines and the renewed guaranteed lines in the | 2019, January 11, |
2020
Juchao Website:
http://www.cninfo.com.cn(No. 2019-088, No. 2019-089,No. 2019-090 and No. 2020-002)
125,084,220.44 yuan (including interest inc
| ome of financing and deposit 47,970,805.20 yuan) and the interest settled in the future are used to permanently supplement the working capital as of 30 November 2019. The specific amount shall be the actual amount after deducting the reservation |
contract b
December 26,
| alance payment and quality retention money from the special | 2019, January 11, |
2020
Juchao Website:
http://www.cninfo.com.cn(No. 2019-088, No. 2019-089,No. 2019-091 and No. 2020-002)
quality retention money shall continue to be kept in the fun
| d raising |
account and shall be paid as agreed in the contract.After deliberated and approved by BOD, BOS and shareho
good liquidity, low
| risk and stability within one year, and the authorization period shall be valid for one year from the date of approval by the |
shareholders’ general meeting.
January 21, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-003, No. 2020-004 andNo. 2020-009)
capital-guaranteed financial
| products with high security, good liquidity and a single product period of no more than one year, the authorization period shall be valid within one year from the date of approval by the |
shareholders’ general meeting.
January 21, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-003, No. 2020-004,No. 2020-006 and No. 2020-009)After deliberated and approved by BOD and shareholders’ generalmeeting, it is agreed that the Company and its subsidiary shall carry outforward foreign exchange capital trading business from 1 July 2020 to 30June 2021, with a business transaction balance not exceeding US$650
other foreign exchange converted into US dollars), the longest period of asingle business delivery is not more than one year.
March 28, 2020,May 30, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-012, No. 2020-017 andNo. 2020-036)After deliberated and approved by BOD and shareholders’ generalmeeting, it is agreed that the Company and its wholly-owned subsidiarySichuan Changhong Air Conditioning Co., Ltd. (hereinafter theChanghong AC) will jointly increase the capital of 150 million yuan to thesubsidiary Zhongshan Changhong Electric Appliance Co., Ltd.( hereinafte
| million (mainly including US dollars, Australian dollars and Euros, and all |
| r |
referred to as “Zhongshan Changhong”) with their own funds according tothe current shareholding ratio, of which the capital increase of the
15 million yuan.
March 28, 2020,May 30, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-012, No. 2020-018 andNo. 2020-036)
After deliberated and approved by BOD, BOS and shareholders’ generalmeeting, it is agreed that the Company will increase the credit guaranteeline of no more than 30 million yuan to the subsidiary company ZhongkeMeiling Cryogenic Technology Co. , Ltd. (hereinafter referred to as"Zhongke Meiling") with period of one year for day-to-
| Company is 135 million yuan and the capital increase of Changhong AC is |
| day production and |
operation.
March 28, 2020,May 30, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-012, No. 2020-013,No. 2020-019 and No. 2020-036)After deliberated and approved by BOD and shareholders’ generalmeeting, it is agreed to continue appointing the Shine Wing Certified
March 28, 2020,May 30, 2020
Juchao Website:
http://www.cninfo.com.cn
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Public Accountants (LLP) as the auditing institution of the financial reportand internal control of the Company for 2020 for a period of one year.Meanwhile, request the shareholders’ general meeting to authorize themanagement of the Company to determine its annual audit chargesaccording to the industry standards and actual works of the audit.
(No. 2020-012, No. 2020-015 andNo. 2020-036)
After deliberated and approved by BOD, it is agreed that the companywould transfer the 0.18% equity of Ridian Technology held by SubsidiaryChanghong Meiling Ridian Technology Co., Ltd. (hereinafter referred to
own funds (initial investment amount of 150,000 yuan), and the equitytransfer price was based on Ridian Technology’s audited net assets of155,582,873.62 yuan as of December 31, 2019, the equity transfer pricewas determined to be 280,049.17 yuan. After the equity transfer, thecompany holds 99.036% of Ridian Te
| chnology's equity, and natural person |
shareholder Hu Zhiheng holds 0.964% of Ridian Technology's equity.
April 18, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-022)
After deliberated and approved by BOD, it is agreed that the companywould transfer 100% equity of 7 subsidiaries held by the company’swholly-owned subsidiary Hefei Meiling Electric Appliances MarketingCo., Ltd., including Chengdu Meiling Electric Appliances Marketing Co.,Ltd., Fuzhou Meiling Electric Appliances Marketing Co., Ltd., and etc.and total of seven subsidiaries, to Hefei Meiling Group Holdings Limited,which is a wholly-owned subsidiary of the company,
April 18, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-022)
meeting, it is
| agreed the company to use the total share capital of 1,044,597,881 shares on December 31, 2019 as the base, and distribute a cash dividend of 0.5 yuan (including tax) per every 10 shares to all |
shareholders, who distributed cash dividends of 52,229,894.05
(including tax) in total.
| The company has implemented and completed the |
aforementioned profit distribution plan.
March 28, 2020,May 8, 2020,May 30, 2020,June 11, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-012, No. 2020-013,No. 2020-028, No. 2020-036 andNo. 2020-038)After deliberated and approved by BOD, the Company agreed to investapproximately 20.21 million yuan on the expansion technologyimprovement for production line of the export refrigerators, with purposeof improving the production capacity, technical standards and productcompetitiveness.
June 30, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-041)After deliberated and approved by BOD,it is agreed that wholly-ownedsubsidiary Changhong Air-conditioner would apply to the AgriculturalBank of China Co., Ltd. Mianyang Fucheng Sub-branch for bankacceptance drafts not exceeding 100 million yuan with the pledge of timedeposit certificates, the time limit was one year; and agreed thatChanghong Air-conditioner could apply to Bohai Bank Co., Ltd. Chengdu
June 30, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-041 and No. 2020-042)
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)that Changhong Air-conditioner could apply to Liangli Sub-branch ofChengdu Rural Commercial Bank Co., Ltd. for bank acceptance drafts notexceeding 100 million yuan with the pledge of time deposit certificates,and the time limit was one year.The company and its subsidiaries have received various governmentsubsidies totaling RMB 50,907,539.53 from January 1, 2020 to June 30,2020.
July 2, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-043)On July 23, 2020, the company issued the Reminder Announcement onOperating Conditions.
July 23, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-046)
of supervisors, and gene
| ral meeting of shareholders, it was agreed that the company would use its own funds to repurchase part of the company’s domestically listed foreign shares (B shares) through a centralized bidding |
transaction. Currently, the share repurchase plan is in the
Implementation Progress of Share Repurchase" below.
July 28, 2020,August 19, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-047, No. 2020-048,No. 2020-049 and No. 2020-063)After deliberated and approved by BOD, BOS and shareholders’ generalmeeting, it is agreed that the company would use its own funds tocooperate with the related party Changhong Huayi Compressor Co., Ltd.(hereinafter referred to as "Changhong Huayi") to respectively increasecapital of RMB 500 million to Sichuan Changhong Group Finance Co.,
| process of being implemented. For details, please refer to the content of "(IV) |
| Ltd. (hereinafter referred to as "Changhong Finance Company"), for a total |
capital increase of RMB one billion. After the capital increase, thecompany and Changhong Huayi respectively hold 14.96% of the equity ofChanghong Finance Company.
September 10,2019, September27, 2019, July28, 2020, August8, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-060, No. 2020-061,No. 2020-063, No. 2020-067, No.2020-51 and No. 2020-054)
accordance with the r
| elevant regulations and requirements of the Ministry |
of Finance.
August 15, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-056, No. 2020-057 andNo. 2020-059)After deliberated and approved by BOD, BOS and shareholders’ generalmeeting, it is agreed the company to continue sign a triennial FinancialService Agreement with Changhong Finance Company, it is agreed thatthe maximum deposit balance (including accrued interest and handlingfees) and the highest principal and interest of outstanding loan theCompany in any finance company within the three-year validity periodfrom the effective date of the new agreement shall be adjusted to notexceed RMB 4.5 billion per day. Changhong Finance Company shallprovide a series of financial services to the Company and its subsidiaries.
August 15, 2020,October 13, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-056, No. 2020-057,No. 2020-061 and No. 2020-083)
board of supervisors
| , it was agreed that the company would expect the |
August 15, 2020
Juchao Website:
http://www.cninfo.com.cn
exceeding 45 million yuan in 2020 (excluding tax).
(No. 2020-056, No. 2019-057 andNo. 2020-062)
On September 18 and October 12, 2020, the 42
nd
| company and its holding subsidiaries to increase the daily related transactions provided by Yuanxin Financial Leasing Co., Ltd., such as financial leasing, commercial factoring, order financing ,etc., not |
| meeting of the ninth |
board of directors of the company, the 23
rd
non-
| independent directors of the company's tenth board of directors; electing Mr. Hong Yuanjia, Ms. Mou Wen and Mr. Zhao Gang as |
ind
they have composed the company's tenth board
| of supervisors together with Ms. Ji Ge and Mr. Zhu Wenjie who were elected as employee |
supervisors of tenth board of supervisors by the 4
th
office of the aforemention
| ed directors and supervisors is three years, from |
December 12, 2020 to December 12, 2023.
company’s tenth board of dire
| ctors; the meeting also reviewed and approved the Proposal on the Establishment of Special Committees Under the Company’s Tenth Board of Directors and the Proposal on Appointment |
of the Company’s Senior Managers.On the same day, the first meeting of the t
chairman of the board of supervisors of the tenth board of supervisors.
September 19,2020, October13, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-069, No. 2020-070,No. 2020-071, No. 2020-083, No.2020-084 and No. 2020-085)
| enth board of supervisors of the company passed a resolution and agreed to elect Mr. Shao Min as the |
| After deliberation and approval by the company’s board of directors, it was agreed that the company would transfer 100% equity of Hefei Meiling |
Electrical Appliance Marketing Co., Ltd., a wholly-
Meiling Electrical Appliance Marketing Co., Ltd., to Hefei Meiling
| Group |
Holdings Co., Ltd., a wholly-owned subsidiary of the company.
September 19,2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-069)
agreed that the company’s wholly-own
| ed subsidiary Meiling Group would |
merge its wholly-
September 19,2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-069)
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Co., Ltd. and other 7 subsidiaries.
Technology Venture Capital
| Fund Partnership (Limited Partnership) (hereinafter referred to as "Hongyun Fund"), a shareholding company of |
the company.
October 10, 2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-082)After deliberated and approved by BOD and shareholders’ generalmeeting, it is agreed that the company should apply to China ConstructionBank Co., Ltd. Hefei Luyang Sub-branch for a special credit line of up to700 million yuan in bill pools; agreed that the company could apply toPing An Bank Co., Ltd. Hefei Branch for a special credit line of up to 300million yuan in bill pools; agreed that the company could apply to HefeiEconomic Development Zone Branch of Huishang Bank Co., Ltd. for aspecial credit line of up to 300 million yuan in bill pools; agreed that thecompany could apply to the Hefei Branch of China Merchants Bank Co.,Ltd. for a special credit line of up to 300 million yuan in the bill pools;
Co., Ltd. for a special credit line of up to 500 million yuan in the bill
| pools; agreed that the company could apply to the Hefei Branch of Bank of Hangzhou Co., Ltd.for a special credit line of up to 600 million yuan in the |
bill pools; agreed that the company could apply to the Hefei Branch ofZheshang Bank Co., Ltd. for a special credit line of up to 5
in the bill pools; agreed that the company could apply to Anhui Branch ofBank of Communications Co., Ltd. for a special credit line of up to 1000million yuan in the bill pools;
March 28, 2020,April 18, 2020,May 8, 2020,May 30, 2020,September 19,2020
Juchao Website:
http://www.cninfo.com.cn(No. 2020-012, No. 2020-020,No. 2020-022, No. 2020-025, No.2020-029, No. 2020-030, No.2020-036, No. 2020-036, No.2020-069, No. 2020-078 and No.2020-083)
(iv) Implementation progress of shares buy-back
√ Applicable □ Not applicable
The company’s 40
th meeting of the ninth board of directors, the 21
stmeeting of the ninth board of supervisors, andthe 3rdextraordinary general meeting of shareholders in 2020 held on July 27, 2020 and August 18, 2020deliberated and approved the Proposal on the Repurchase of Part of Domestically Listed Foreign Shares (B Shares)of the Company, and agreed that the company would use its own funds to repurchase the company’s B shares in acentralized bidding transaction within 12 months from the date of review and approval of the plan for therepurchase of part of domestically listed foreign shares (B shares). The price of the repurchased B shares shall notexceed HK$2.21 per share (inclusive), and shall not exceed 150% of the average transaction price of thecompany’s B shares on the 30 trading days before the resolution of the repurchase of shares by the board ofdirectors. The total amount of funds for the repurchase of B shares shall be no less than 50 million yuan (inclusive)and no more than 100 million yuan (inclusive), based on the central parity rate of HKD to RMB on July 24, 2020,i.e. 1 HKD = 0.9023 RMB, the equivalent Hong Kong dollar shall be no less than 55,413,942.15 Hong Kongdollars (inclusive) and no more than 110,827,884.30 Hong Kong dollars (inclusive) (the actual amount of HongKong dollars used shall be converted based on the exchange rate on the day when the company purchases foreignexchange, including foreign exchange purchase, transaction fees and other related fees).As of the disclosure date of this report, the company has opened a special securities account for repurchase atChina Securities Depository and Clearing Co., Ltd. Shenzhen Branch. At present, the company is promoting the
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)purchase and payment of foreign exchange work involved in this share repurchase. As of September 30, 2020, thecompany's special securities account for repurchase has not yet purchased the company's B shares.Found more on announcement (Notice No.:2020-047, 2020-048, 2020-048, 2020-049, 2020-052, 2020-055,2020-063, 2020-064, 2020-065, 2020-066 and 2020-081) released on appointed media China Securities Journal,Securities Times, Hong Kong Commercial Daily and Juchao Website dated July 28, July 31, August 14, August 19,September 4, October 10, 2020 respectively.(v) Implementation progress of the reduction of repurchases shares by centralized bidding
□ Applicable √ Not applicable
III. Commitments completed in Period and those without completed till end of the Periodfrom actual controller, shareholders, related parties, purchaser and companies
□ Applicable √ Not applicable
The Company has no commitments completed in Period and those without completed till end of the Period fromactual controller, shareholders, related parties, purchaser and companies.IV. Financial asset investment
1. Securities Investment
□ Applicable √ Not applicable
No security investment in Period.
2. Derivative investment
√ Applicable □Not applicable
In 10 thousand Yuan
Operator
Relatedrelationship
relatedtrade ornot
Type
Initialinvestment
Start date End date
Investmentamount atperiod-begin
Amount
| Whether | purchased in the reporting |
period
Amountsales in thereportingperiod
devaluatio
n ofwithdrawing (ifapplicable)
Investmentamount atperiod-end
Ratio ofinvestmentamount atperiod-end innet assets of the
Company atperiod-end
Actual
| Amount of reserve for | gains/losses in |
period
Financialinstitution
N/A No
Forward foreign
exchangecontract
118,035.04 June 28, 2019 August 25, 2021 73,225.52 219,119.46 137,797.85 - 153,271.02 31.76% 1,276.11Total 118,035.04 -- -- 73,225.52 219,119.46 137,797.85 - 153,271.02 31.76% 1,276.11Capital resource Self-owned capitalLawsuit involved (if applicable) Not applicableDisclosure date for approv
investment of derivatives (if applicable)
March 26, 2020Disclosure date for approval from board ofshareholders for investment of derivatives (ifapplicable)
May 29, 2020
derivatives holdings in the Period (includi
| ng but not limited to market risk, liquidity risk, |
credit risks, operation risk and law risks etc.)
Risk analysis:
1. Market risk: domestic and international economic situation changes may lead to exchange rate fluctuations, forward foreign exchange transa
certain market risk. Forward foreign exchange business is aiming to reducing impact on corporate profits by foreign exchange
| settlement and sale prices, |
exchange rate fluctuations. The Company will follow up the exchange fluctuation, on th
research of the foreign currency exchange rates, combined with prediction of consignments, and burdening ability to price var
| iations due to exchange rate |
fluctuations, then determine the plan of forward foreign exchange contracts, and make dynamic management to the business, to ensure reasonable profit level.
2. Liquidity risk: all foreign exchange transactions are based on a reasonable estimate of the future import and export business, to
trade authenticity. In addition, forward foreign exchange transactions are processed with bank credit, will not affect liquidity of company funds.
3. Bank default risk: if cooperative banks collapse within the contract time,
| the Company will not be able to transact the original foreign exchange contracts with |
contract price, which leads the risk of income uncertainty. So the Company chose five state-owned banks, the Chinese-
Everbright Bank, Industrial Bank and the foreign-funded banks as UOB, OCBC, BEA etc.
| to conduct the trading of foreign exchange capital. These banks share |
a solid strength and management whose failure and the risk of loss may bring to the Company is very low.
4. Operational risk: improper operation of the person in charge of forward foreign exchange transactions may cause related risk a
formulated related management system which defines the operation process and responsibility to prevent and control risks.
5. The legal risks: unclear terms based in contract signed with banks for related transactions may lead legal risks when forward foreign exchange transactions are
processing. The Company will strengthen legal review, and choose good bank to carry out this kind of business as to risk control.Invested derivative products have changes inmarket price or fair value in the Period, as foranalysis of the fair value of derivatives,disclosed specific applied methods andcorrelation assumption and parameter setting
The Company determines fair value in accordance with the Chapter VII “Determination of Fair Value” carried in the Accounting Standards for Business
Enterprises No.22 - Recognition and Measurement of Financial Instruments. Fair-value is basically obtained according to prices offered by bank and other
pricing services. While fair-value of derivatives is mainly obtained according to the balance between prices given by outstanding contracts and forward prices
given by contracts signed during the reporting period with bank. The differences are identified as trading financial assets and liabilities. During the reporting
period, forward foreign exchange contracts and losses of the Company is 12,761,100 yuanSpecific principle of the accounting policy andcalculation for derivatives in the Periodcompared with last period in aspect of majorchanges
Not applicable
risk control by independent directors
Upon inspection, the independent directors of the Company believes that: during the reporting period, the Company carried out its foreign exchange forwarddeals in strict compliance with the Standardized Operation Guidelines for Listed Company issued by Shenzhen Stock Exchange, the Changhong Meiling Articlesof Association, Authorization Management of the Company, Management System in relating to Foreign Exchange Forward Deals of Hefei Meiling Co., Ltd., andthese deals were conducted within the authorization scope under general meeting and board meeting. The
| Special opinion on derivative investment and | Company conducts no foreign exchange transactions on |
the purpose of getting profit only, all of the forward foreign exchange transactions are operates based on normal operating and production, which is relying onspecific business operations with purpose of avoiding the preventing the risks in exchange rate. The forward foreign exchange transactions of the Company arebeneficial to prevent the exchange risks exposed by import and export business and thus met its requirement for operation development. There
operation, no break of relevant rules and regulations and relevant business was conducted under corresponding decision-making procedures. Interests of theCompany and entire shareholders, especially minority shareholders, were not prejudiced.
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)V. Progress of investment projects with raised funds
√ Applicable □Not applicable
Particular about process of the fund raised and investment of fund raised in the report periodThe Company implemented a private placement of A-share in year of 2016, totally 1,569,999,998.84 Yuan raised,net money raised amounting to 1,540,732,722.76 Yuan after deducted vary issuance costs (tax included)29,267,276.08 Yuan.The resolutions of the 35
th session of the 9
th Board of Directors of the Company, the 18
th session of the 9
thBoardof Supervisors of the Company, and the 2
nd
Extraordinary General Meeting of 2020 passed, and the independentdirectors consented, and the sponsor institution made unanimous verification opinions to agree the company to usethe idle raised funds of not exceeding RMB 199 million to invest in the principal-protected financial products withhigh security, good liquidity and allotted time of single item not more than one year, the authorization period isvalid for one year from the date of approval by the company’s general meeting of shareholders. Up to now, thecompany is normatively using the raised funds to purchase bank financial product in accordance with thedecision-making and relevant regulations and requirements.As of 30 September 2020, the fund raising project of non-public stock issuance of 2016 has 1,034,380,219.64yuan actually used in total, at the same time, the amount permanent supplementary working capital of theCompany cumulatively as 432,609,413.91 yuan. Of which, during the reporting period, the fund raising used bythe Company amounted to 53,264,108.15 yuan (including bank handling fee and cost of labor 835 yuan), theamount permanently supplements the working capital was 126,766,362.64 yuan. In addition, the specific accountfor fund raising gains a deposit interest of 616,040.46 yuan, the income from bank financial products on due withidle fund raising was 2,703,835.86 yuan. As of 30 September 2020, balance of the storage specific account forfund raising was 196,491,846.32 yuan (including interest income 3,669,061.19 yuan, income from bank financialproducts on due 38,434,756.24 yuan and the bank financial products of 1,500,000,000,000 yuan purchased by idlefund raising). More details are:
In RMB
Serial
Name
Total project
investment
Proposedinvestment amount
of raised funds
Accumulatedinvestment amount (asof 30 September 2020)
Permanentreplenishment the
working capital
Balance of raisedfunds (includingfinancing income
and depositinterest income)
| Construction of |
intelligentmanufacturing project
398,706,500 391,000,000 308,135,715.87 - 124,157,743.44
1.1
Manufacturing (Hefei)project
278,706,500 271,000,000 253,833,241.83 - 54,939,356.32
1.2
Production line for the
machines (Phase II)
120,000,000 120,000,000 54,302,474.04 - 69,218,387.12
| annual capacity of 2 million washing |
| Construction of intelligent R&D capability and new products development of the intelligent |
appliance technology
559,000,000 559,000,000 537,129,202.64 126,766,362.64 72,334,102.88
3 Intelligent life project 320,760,000 320,000,000 350,844,651.27 305,843,051.27 0
floating capital
300,000,000 270,732,700 270,880,063.77 - 0Total1,578,466,500 1,540,732,700 1,466,989,633.55 432,609,413.91 196,491,846.32
Note 1: According to the plan for the use of raised funds approved by the shareholders' general meeting, thecompany has withdrawn the remaining funds raised and interest income from this “Intelligent life project” account,a total of 305,843,051.27 yuan, to permanently supplement the company’s working capital on 26 July 2019, 19August, and 11 October respectively. After the withdrawal, the remaining funds of the special account for theraised funds were 0 yuan, and the account was cancelled. At the same time, the company implemented theliquidation and cancellation of Changmei Technology Co., Ltd., the main body of the project.Note 2: According to the plan for the use of raised funds approved by the shareholders' general meeting, onJanuary 15, 2020, the company withdrew the remaining raised funds, wealth management and interest incometotaling 126,766,362.64 yuan after deducting the balance of the contract to be paid and the guarantee deposit fromthe “intelligent research and development project” account for permanent supplements of the company’s workingcapital. After the withdrawal, the remaining funds of the special account of the raised funds would continue to beused to pay the contract balance and guarantee deposit.VI. Prediction of 2020 business performanceEstimation on accumulative net profit from the beginning of the year to the end of next report period to be lossprobably or the warning of its material change compared with the corresponding period of the last year andexplanation on reason
□ Applicable √ Not applicable
VII. Major contracts for daily operations
□ Applicable √ Not applicable
VIII. Trust financing
√Applicable □ Not applicable
In 10 thousand YuanType Capital resources Amount for entrust Undue balance Overdue amountBank financing products
Own funds 48,500
5,000
Bank financing products
Idle raised funds 45,000
15,000
Total 93,500
20,000
Details of the single major amount, or high-risk trust investment with low security, poor fluidity andnon-guaranteed:
√Applicable □ Not applicable
In 10 thousand Yuan
Trusteeinstitutio
n (orname oftrustee)
Trustee type
Product
type
Amount
Source offunds
StartdateExpirydate
Capital investment purpose
Criteriafor fixingreward
Referenceannualrate ofreturn
Anticip
atedincome
(ifapplica
ble)
Actualgains/losses inperiod
Actualcollecte
dgains/losses inperiod
Amount
ofreser
ve
fordevaluati
on
of
with
dra
win
g (if
applicabl
e)
Whetherapproved
bylegalprocedur
e(Y/N
)
Whetherhas entrust
financeplan in the
future
Summary of the
items andrelated query
index (if
applicable)
ChengduBranchof BohaiBankCo., Ltd
Bank
Principal-guarante
ed withfloatingincome
10,000.00
Idleraisedfunds
February21,
May25,2020
The structured deposit product,the structural derivatives tiedwith the 3-month interbanklending rate in London (Libor)
Annualized returns:
3.80%
3.80% 99.22 97.86 97.86 N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-010)Mianyan
gEconomi
cDevelop
ment
Bank
Guarante
edcapital
andminimum return
5,000.00
Idleraisedfunds
Mar
ch10,
June10,2020
exchange rate of US dollar toSwiss franc is taken from the
| quotes U.S. dollar drawn by |
EBS (Inte
Trading System) between 5 a.m.Sydney time every Monday and
Annualized returns:
3.60%
3.60% 46.00 45.37 45.37 N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-011)
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Zonebranch ofBank of
ChinaLimited
Friday against Swiss francs.
HefeiBranchof ChinaGuangfaBank
Bank
Principal-guaranteed withfloatingincome
5,000.00
| 5 p.m. New York time every | ||
Idleownfunds
April 20,
July20,2020
Investment of the central bankbill in bank market, treasurybond, corporate bonds,short-term financing,medium-term bills, inter-bankborrowing, inter-bank deposits,bills or bill repurchase etc., andinterest rate-linked optionproducts
Annualized returns:
3.85%
3.85% 48.66
48.12
48.12
N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-026)HefeiBranchof Bankof East
Asia(China)Co., Ltd.
Bank
Principal-guarante
ed withfloatingincome
5,000.00
Idleownfunds
April 21,
July21,2020
Deposits embedded in financialderivatives absorbed by theBank are linked to exchange ratefluctuations so that depositorscan obtain corresponding returnson the basis of certain risks.
Annualized returns:
3.80%
3.80% 48.03
48.03
48.03
N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-026)Mianyan
gEconomi
cDevelop
mentZonebranch ofBank of
Bank
Guarante
edcapital
andminimum return
10,000.00
Idleownfunds
April 23,
July24,2020
Funds raised by this product areoperated uniformly by the Bankof China, and businessmanagement is carried out inaccordance with the principle ofseparating basic deposits fromderivative transactions. Theprincipal part raised is includedin the unified operation and
Annualized returns:
3.75%
3.75% 95.83
94.52
94.52
N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-027)
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)ChinaLimited
management of the internalfunds of the Bank of China, andincluded in the payment scope ofdeposit reserves and depositinsurance premiums. Productsembedded derivatives are partlyinvested in derivatives marketssuch as exchange rates, interestrates, commodities, and indices,and the final productperformance is linked toderivatives. During theinvestment period, Bank ofChina uses the income methodto value the embedded optionprice of this structured deposit.
HefeiBranchof ChinaEverbright BankCo., Ltd.
Bank
Principal-guarante
ed withfloatingincome
5,000.00
Idleownfunds
May21,
Augus
t 21,2020
| This product is a RMB |
structured deposit product with
invest the rai
| sed structured deposit funds in bank time |
deposits, and at the same time
transactions (including but notlimited to options and swaps andother derivative transactions) in
| domestic or international |
financial markets by limiting theincome of the time deposits tothe upper limit, the sum of theinvestment gains and losses offinancial derivative transactions
Annualized returns:
3.30%
3.30% 42.17
42.50
42.50
N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-033)
together constitute the income ofstructured deposit products.
Mianyang Branchof Bank
ofCommunicationsCo., Ltd.
Bank
Principal-guaranteed withfloatingincome
5,000.00
| and the bank deposit interest | ||
Idleownfunds
May27,
Augus
t 27,2020
The funds collected by thestructured deposit products areincluded in the depositmanagement category as theprincipal
Annualized returns:
3.30%
3.30% 42.63
41.59
41.59
N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-034)
| Chengdu |
Branchof BohaiBankCo., Ltd
Bank
Principal-guarante
ed withfloatingincome
10,000.00
Idleraisedfunds
May27,
Augus
t 26,2020
The structured deposit product,
| the derivatives tied with the |
3-month interbank lending ratein London (Libor)
Annualized returns:
3.45%
3.45% 87.21
86.01
86.01
N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-035)Mianyang Branchof Bank
ofCommunicationsCo., Ltd.
Bank
Principal-guarante
ed withfloatingincome
5,000.00
Idleownfunds
June
5,
September
7,2020
The funds collected by thestructured deposit products areincluded in the depositmanagement category as theprincipal
Annualized returns:
3.27%
3.27% 42.69
42.11
42.11
N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-037)Chengdu
Branchof China
CITICBankCo., Ltd.
Bank
Principal-guarante
ed withfloatingincome
5,000.00
Idleraisedfunds
June15,
September
14,2020
| This product is a structured |
deposit product, which refers todeposits embedded in financial
the fluctuation of interest rates,
| exchange rates, indexes and |
other financial market objects orto the credit status of an entity,
Annualized returns:
3.30%
3.30% 41.71
41.14
41.14
N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-040)
basis of bearing certain risks.
HefeiBranchof Bankof EastAsia(China)Limited
Bank
Principal-guarante
ed withfloatingincome
5,000.00
| so that depositors can obtain corresponding benefits on the | ||
Idleownfunds
June12,
September
11,2020
Deposits embedded in financialderivative products absorbed by
basis of certain risks.
Annualized returns:
3.50%
3.50% 44.24
| banks are linked to exchange rate fluctuations so that depositors can obtain corresponding returns on the |
44.24
44.24
N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-039)
Mianyan
gEconomi
cDevelop
mentZonebranch ofBank of
ChinaLimited
Bank
Guarante
edcapital
andminimum return
3,500.00
Idleownfunds
April 22,
May25,2020
Funds raised by this product areoperated uniformly by the Bankof China, and businessmanagement is carried out inaccordance with the principle ofseparating basic deposits fromderivative transactions. Theprincipal part raised is includedin the unified operation andmanagement of the internalfunds of the Bank of China, andincluded in the payment scope ofdeposit reserves and depositinsurance premiums. Productsembedded derivatives are partlyinvested in derivatives marketssuch as exchange rates, interestrates, commodities, and indices,and the final productperformance is linked to
Annualized returns:
3.40%
3.40% 10.91
10.76
10.76
N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-026)
derivatives. During theinvestment period, Bank ofChina uses the income methodto value the embedded optionprice of this structured deposit.HefeiBranchof Bankof East
Asia(China)Limited
Bank
Principal-guarante
ed withfloatingincome
5,000.00
Idleownfunds
July15,
October 16,2020
Deposits embedded in financialderivative products absorbed by
| banks are linked to exchange rate fluctuations so that depositors can obtain corresponding returns on the |
basis of certain risks.
Annualized returns:
3.40%
3.40% 43.91
-
-
N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-045)
Chengdu
Branch
ofIndustrial
BankCo., Ltd.
Bank
Principal-guarante
ed withfloatingincome
15,000.00
Idleraisedfunds
Septemb
er15,
December
14,2020
Str
| uctured deposits refer to |
business products that are linkedto fluctuations in interest rates,exchange rates, indexes, etc., orto the credit status of an entity,
higher returns on the basis ofcertain risks.
Annualized returns:
2.95%
2.95% 110.62
| so that depositors can obtain |
-
-
N/A Y
Notapplicable
JuchaoWebsite(www.cninfo.com.cn)(Notice No.:
2020-068)Total93,500.00
-- -- ------ -- 803.83 642.25 642.25 -- -- -- --
Entrust financial expected to be unable to recover the principal or impairment might be occurred
□Applicable √ Not applicable
IX. Guarantee outside against the regulation
□Applicable √Not applicable
The Company had no guarantee outside against the regulation in the reporting period.
X. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
The Company had no non-operational fund occupation from controlling shareholders or its related party in thereporting period.VIII. Registration form for receiving research, communication and interview in the reportperiod
√ Applicable □Not applicable
Reception time
Reception
location
way
Receptio
| Reception | n object |
type
Reception
object
the discussion and
the information
provided
Index of the basic situation of the survey
September 24,2020
CompanyAdministrationCenter No. 2Meeting Room
Fieldresearch
Institutio
n
GuolianSecurities
Companymanagement
http://irm.cninfo.com.cn/ircs/company/companyDetail?stockcode=000521&orgId=gssz0000521
Section IV. Financial StatementI. Financial statement
1. Consolidate balance sheet
Prepared by Changhong Meiling Co., Ltd.
In RMBItems 2020-9-30 2019-12-31Current assets:
Monetary fund 4,655,937,296.93
5,499,601,030.64
Settlement provisions
Capital lent
Trading financial assets 28,451,689.69
7,730,268.92
Derivative financial assets
Note receivable 1,789,627,662.91
1,865,165,499.50
Account receivable 2,474,469,751.84
1,387,961,981.66
Receivable financing
Accounts paid in advance 102,147,656.59
25,270,406.37
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurancereceivable
Other account receivable 121,045,105.24
97,241,894.80
Including: Interest receivable 6,588,544.33
9,510,208.63
Dividend receivable
661,434.48
Buying back the sale of financialassets
Inventories 1,767,604,113.33
1,460,910,189.06
Contractual assets
Assets held for sale
Non-current asset due within oneyear
Other current assets 247,545,304.92
63,604,031.96
Total current assets 11,186,828,581.45
10,407,485,302.91
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 81,092,355.70
88,556,511.70
Investment in other equityinstrument
Other non-current financial assets 542,540,000.00
45,000,000.00
Investment real estate 54,357,952.53
96,343,760.13
Fixed assets 2,326,714,921.44
2,180,572,946.87
Construction in progress 110,309,222.32
252,494,792.31
Productive biological asset
Oil and gas asset
Right-of-use assets
Intangible assets 952,907,683.39
933,248,463.84
Expense on Research andDevelopment
83,897,499.02
101,078,659.57
Goodwill
Long-term expenses to beapportioned
Deferred income tax asset 113,366,601.02
97,453,178.14
Other non-current asset
Total non-current asset 4,265,186,235.42
3,794,748,312.56
Total assets 15,452,014,816.87
14,202,233,615.47
Current liabilities:
Short-term loans 1,215,801,769.00
1,103,991,045.96
Loan from central bank
Capital borrowed
Trading financial liability 3,846,486.01
1,081,534.93
Derivative financial liability
Note payable 3,974,823,906.29
3,490,271,482.40
Account payable 2,930,393,650.19
2,343,116,374.58
Accounts received in advance
425,149,194.97
Contractual liability 297,497,485.45
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Selling financial asset ofrepurchase
Absorbing deposit and interbankdeposit
Security trading of agency
Security sales of agency
Wage payable 214,068,066.26
196,507,174.68
Taxes payable 106,761,494.22
68,558,391.66
Other account payable 846,024,664.04
689,477,603.21
Including: Interest payable 8,506,689.76
12,340,385.61
Dividend payable 4,466,628.25
3,579,491.94
Commission charge andcommission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due withinone year
405,676,176.26
1,708,193.90
Other current liabilities
Total current liabilities 9,994,893,697.72
8,319,860,996.29
Non-current liabilities:
Insurance contract reserve
Long-term loans 192,640,000.00
401,280,000.00
Bonds payable
Including: Preferred stock
Perpetual capitalsecurities
Lease liability
Long-term account payable 1,878,823.17
3,016,921.44
Long-term wages payable 11,490,660.94
13,774,110.61
Accrual liability 144,403,117.40
166,099,143.97
Deferred income 173,033,976.00
179,970,971.92
Deferred income tax liabilities 8,611,131.03
6,256,759.14
Other non-current liabilities
Total non-current liabilities 532,057,708.54
770,397,907.08
Total liabilities 10,526,951,406.26
9,090,258,903.37
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Owner’s equity:
Share capital 1,044,597,881.00
1,044,597,881.00
Other equity instrument
Including: Preferred stock
Perpetual capitalsecurities
Capital public reserve 2,683,933,116.75
2,684,366,619.10
Less: Inventory shares
Other comprehensive income -21,822,864.64
-18,931,430.36
Reasonable reserve
Surplus public reserve 410,786,860.20
410,786,860.20
Provision of general risk
Retained profit 708,342,323.00
884,127,743.42
Total owner’ s equity attributable toparent company
4,825,837,316.31
5,004,947,673.36
Minority interests 99,226,094.30
107,027,038.74
Total owner’ s equity 4,925,063,410.61
5,111,974,712.10
Total liabilities and owner’ s equity 15,452,014,816.87
14,202,233,615.47
Legal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
2. Balance Sheet of Parent Company
In RMBItem 2020-9-30 2019-12-31Current assets:
Monetary funds 3,007,818,915.23
4,040,632,437.18
Trading financial assets 28,334,702.77
5,967,556.00
Derivative financial assets
Note receivable 1,545,386,896.07
1,722,707,248.74
Account receivable 2,008,084,819.40
1,158,563,389.33
Receivable financing
Accounts paid in advance 73,969,626.76
34,374,932.07
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text) Other account receivable 47,619,907.02
41,964,639.42
Including: Interest receivable 3,546,029.02
7,880,186.85
Dividend receivable
661,434.48
Inventories 438,233,940.76
339,728,296.66
Contractual assets
Assets held for sale
Non-
one year
| current assets maturing within |
Other current assets 204,470,915.67
11,930,690.86
Total current assets 7,353,919,723.68
7,355,869,190.26
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments 1,835,450,730.64
1,698,744,114.99
Investment in other equityinstrument
Other non-current financial assets 542,540,000.00
45,000,000.00
Investment real estate 4,013,803.54
7,314,721.80
Fixed assets 1,171,227,230.67
1,138,092,635.67
Construction in progress 86,413,924.94
106,575,581.28
Productive biological assets
Oil and natural gas assets
Right-of-use assets
Intangible assets 497,441,481.74
483,887,751.05
Research and development costs 39,617,231.82
56,295,271.74
Goodwill
Long-term deferred expenses
Deferred income tax assets 91,978,459.46
77,849,317.77
Other non-current assets
Total non-current assets 4,268,682,862.81
3,613,759,394.30
Total assets 11,622,602,586.49
10,969,628,584.56
Current liabilities Short-term borrowings 1,133,943,950.00
1,009,757,944.82
Trading financial liability 1,802,881.00
1,016,052.00
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Derivative financial liability
Notes payable 1,831,961,664.08
1,936,867,907.42
Account payable 1,923,039,755.30
1,497,704,307.48
Accounts received in advance
147,365,864.56
Contractual liability 125,130,910.62
Wage payable 70,323,072.58
39,633,867.87
Taxes payable 19,508,078.18
20,427,731.13
Other accounts payable 536,196,158.47
520,559,494.30
Including: Interest payable 8,441,938.06
13,175,235.76
Dividend payable 3,866,628.25
3,579,491.94
Liability held for sale
Non-current liabilities due withinone year
405,000,000.00
Other current liabilities
Total current liabilities 6,046,906,470.23
5,173,333,169.58
Non-current liabilities:
Long-term loans 192,640,000.00
401,280,000.00
Bonds payable
Including: preferred stock
Perpetual capitalsecurities
Lease liability
Long-term account payable
Long term employee compensationpayable
11,490,660.94
13,774,110.61
Accrued liabilities 137,046,292.64
158,742,319.21
Deferred income 65,792,773.67
67,664,815.53
Deferred income tax liabilities 3,979,773.27
742,725.60
Other non-current liabilities
Total non-current liabilities 410,949,500.52
642,203,970.95
Total liabilities 6,457,855,970.75
5,815,537,140.53
Owners’ equity:
Share capital 1,044,597,881.00
1,044,597,881.00
Other equity instrument
Including: preferred stock
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Perpetual capitalsecurities
Capital public reserve 2,753,143,393.37
2,753,017,007.10
Less: Inventory shares
Other comprehensive income
Special reserve
Surplus reserve 410,568,694.52
410,568,694.52
Retained profit 956,436,646.85
945,907,861.41
Total owner’s equity 5,164,746,615.74
5,154,091,444.03
Total liabilities and owner’s equity 11,622,602,586.49
10,969,628,584.56
Legal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
3. Consolidated Profit Statement (the period)
In RMBItem Current period Last periodI. Total operating income 4,560,882,229.12
3,907,875,881.65
Including: Operating income 4,560,882,229.12
3,907,875,881.65
Interest income
Insurance gained
Commission charge andcommission income
II. Total operating cost 4,531,206,090.78
3,877,092,843.63
Including: Operating cost 3,715,311,494.72
3,120,899,900.24
Interest expense
Commission charge andcommission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurancecontract reserve
Bonus expense of guarantee slip
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Reinsurance expense
Tax and extras 44,493,738.61
37,337,949.44
Sales expense 595,445,892.13
596,324,632.05
Administrative expense 67,866,598.57
75,991,835.54
R&D expense 96,730,152.63
74,045,366.13
Financial expense 11,358,214.12
-27,506,839.77
Including: Interestexpenses
23,175,464.46
15,687,265.39
30,618,323.24
| Interest income |
38,289,853.37
Add: other income 18,566,975.24
44,877,387.39
Investment income (Loss islisted with “-”)
40,002,820.42
-49,991,079.10
Including: Investment incomeon affiliated company and joint venture
542,880.53
10,073,856.02
| The termination of income |
recognition for financial assets measuredby amortized cost(Loss is listed with “-”)
Exchange income (Loss islisted with “-”)
Net exposure hedging income(Loss is listed with “-”)
Income from change of fairvalue (Loss is listed with “-”)
27,681,553.27
39,820,680.29
Loss of credit impairment(Loss is listed with “-”)
-10,737,856.43
-8,463,027.84
Losses of devaluation of asset(Loss is listed with “-”)
-8,131,027.84
-14,086,299.07
Income from assets disposal(Loss is listed with “-”)
-364,250.38
-3,498,765.23
III. Operating profit (Loss is listed with“-”)
96,694,352.62
39,441,934.46
Add: Non-operating income 1,626,799.23
3,218,452.87
Less: Non-operating expense 247,207.80
1,413,579.86
IV. Total profit (Loss is listed with “-”) 98,073,944.05
41,246,807.47
Less: Income tax expense 4,609,449.11
18,695,794.99
V. Net profit (Net loss is listed with “-”) 93,464,494.94
22,551,012.48
(i) Classify by business continuity
1.continuous operating net profit
(net loss listed with ‘-”)
93,464,494.94
22,551,012.48
2.termination of net profit (net loss
listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s
of parent company
86,575,054.56
26,417,996.84
2.Minority shareholders’ gains and
losses
6,889,440.38
-3,866,984.36
VI. Net after-tax of other comprehensiveincome
-2,413,984.74
3,855,002.26
Net after-tax of other comprehensiveincome attributable to owners of parentcompany
-2,261,431.44
2,611,878.24
(I) Other comprehensive incomeitems which will not be reclassifiedsubsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that cannotbe transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive incomeitems which will be reclassifiedsubsequently to profit or loss
-2,261,431.44
2,611,878.24
1.Other comprehensive
income under equity method that cantransfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial assets
re-classify to other comprehensiveincome
4.Credit impairment
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)provision for other debt investment
5.Cash flow hedging reserve
6.Translation differences
arising on translation of foreign currencyfinancial statements
-2,261,431.44
2,611,878.24
7.Other
Net after-tax of other comprehensiveincome attributable to minorityshareholders
-152,553.30
1,243,124.02
VII. Total comprehensive income 91,050,510.20
26,406,014.74
Total comprehensive incomeattributable to owners of parent Company
84,313,623.12
29,029,875.08
Total comprehensive incomeattributable to minority shareholders
6,736,887.08
-2,623,860.34
VIII. Earnings per share:
(i) Basic earnings per share 0.0829
0.0253
(ii) Diluted earnings per share 0.0829
0.0253
Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, andrealized 0 Yuan at last period for combined partyLegal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
4. Profit Statement of Parent Company (the period)
In RMBItem Current period Last periodI. Operating income 2,541,140,607.13
2,664,004,704.29
Less: Operating cost 2,352,710,388.97
2,406,427,108.32
Taxes and surcharge 20,674,818.60
21,743,329.48
Sales expenses 128,368,618.23
138,981,640.75
Administration expenses 27,785,528.69
32,418,153.86
R&D expenses 38,895,620.99
29,405,298.29
Financial expenses 19,541,457.12
-6,393,797.98
Including: interest21,825,893.32
11,934,462.19
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)expenses Interest income 22,685,288.94
28,622,977.37
Add: other income 7,418,544.65
38,236,515.77
Investment income (Loss islisted with “-”)
40,313,906.64
-3,964,727.76
on affiliated Company and joint venture
1,041,269.76
5,794,277.12
The termination ofincome recognition for financial assetsmeasured by amortized cost (Loss islisted with “-”)
Net exposure hedging income(Loss is listed with “-”)
Changing income of fairvalue (Loss is listed with “-”)
29,361,123.67
6,592,242.68
Loss of credit impairment(Loss is listed with “-”)
-14,051,654.02
-2,371,132.58
Lo
(Loss is listed with “-”)
-4,144,576.87
| sses of devaluation of asset |
-3,585,011.06
Income on disposal of assets(Loss is listed with “-”)
-195,720.27
132,203.39
II. Operating profit (Loss is listed with“-”)
11,865,798.33
76,463,062.01
Add: Non-operating income 891,190.57
23,930.00
Less: Non-operating expense
248,133.83
III. Total Profit (Loss is listed with “-”) 12,756,988.90
76,238,858.18
Less: Income tax -2,431,050.23
7,419,865.03
IV. Net profit (Net loss is listed with“-”)
15,188,039.13
68,818,993.15
(i)continuous operating net profit (netloss listed with ‘-”)
15,188,039.13
68,818,993.15
(ii) termination of net profit (netloss listed with ‘-”)
V. Net after-tax of other comprehensiveincome
(I) Other comprehensive incomeitems which will not be reclassifiedsubsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
be transfer to gain/loss
| income under equity method that cannot |
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(II) Other comprehensive incomeitems which will be reclassifiedsubsequently to profit or loss
1.Other comprehensive
income under equity method that cantransfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial
assets re-classify to othercomprehensive income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging
reserve
6.Translation differences
arising on translation of foreigncurrency financial statements
7.Other
VI. Total comprehensive income 15,188,039.13
68,818,993.15
VII. Earnings per share:
(i) Basic earnings per share 0.0145
0.0659
(ii) Diluted earnings per share 0.0145
0.0659
Legal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
5. Consolidated Profit Statement (form the year-begin to the period-end)
In RMBItem Current period Last periodI. Total operating income 11,356,742,966.11
13,041,038,562.59
Including: Operating income 11,356,742,966.11
13,041,038,562.59
Interest income
Insurance gained
Commission charge andcommission income
II. Total operating cost 11,554,834,849.35
12,994,783,658.83
Including: Operating cost 9,469,161,384.07
10,611,455,437.49
Interest expense
Commission charge andcommission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurancecontract reserve
Bonus expense of guarantee slip
Reinsurance expense
Tax and extras 99,798,451.84
117,977,709.18
Sales expense 1,519,429,320.36
1,840,716,388.92
Administrative expense 203,336,291.49
240,384,878.24
R&D expense 264,619,301.52
194,093,406.99
Financial expense -1,509,899.93
-9,844,161.99
Including: Interestexpenses
68,673,511.11
73,580,264.70
105,402,339.93
| Interest income |
97,691,279.74
Add: other income 73,419,100.44
80,188,595.99
Investment income (Loss islisted with “-”)
47,154,706.68
-38,327,115.65
Including: Investment incomeon affiliated company and joint venture
752,761.07
1,251,855.70
| The termination of income |
recognition for financial assets measuredby amortized cost(Loss is listed with “-”)
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Exchange income (Loss islisted with “-”)
Net exposure hedging income(Loss is listed with “-”)
Income from change of fairvalue (Loss is listed with “-”)
17,956,801.15
43,185,470.53
Loss of credit impairment(Loss is listed with “-”)
-33,008,077.62
1,082,468.11
Losses of devaluation of asset(Loss is listed with “-”)
-34,714,276.42
-24,702,231.08
Income from assets disposal(Loss is listed with “-”)
-542,955.36
-4,436,536.97
III. Operating profit (Loss is listed with“-”)
-127,826,584.37
103,245,554.69
Add: Non-operating income 5,072,408.44
5,694,649.89
Less: Non-operating expense 1,206,761.93
3,776,106.23
IV. Total profit (Loss is listed with “-”) -123,960,937.86
105,164,098.35
Less: Income tax expense 1,746,437.69
36,397,055.33
V. Net profit (Net loss is listed with “-”) -125,707,375.55
68,767,043.02
(i) Classify by business continuity
1.continuous operating net profit
(net loss listed with ‘-”)
-125,707,375.55
68,767,043.02
2.termination of net profit (net loss
listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s
of parent company
-123,555,526.37
80,752,019.41
2.Minority shareholders’ gains and
losses
-2,151,849.18
-11,984,976.39
VI. Net after-tax of other comprehensiveincome
-3,423,690.97
-3,102,378.92
Net after-tax of other comprehensiveincome attributable to owners of parentcompany
-2,891,434.28
-1,799,468.82
(I) Other comprehensive incomeitems which will not be reclassifiedsubsequently to profit of loss
1.Changes of the defined
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)benefit plans that re-measured
2.Other comprehensive
income under equity method that cannotbe transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive incomeitems which will be reclassifiedsubsequently to profit or loss
-2,891,434.28
-1,799,468.82
1.Other comprehensive
income under equity method that cantransfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial assets
re-classify to other comprehensiveincome
4.Credit impairment
provision for other debt investment
5.Cash flow hedging reserve
6.Translation differences
arising on translation of foreign currencyfinancial statements
-2,891,434.28
-1,799,468.82
7.Other
Net after-tax of other comprehensiveincome attributable to minorityshareholders
-532,256.69
-1,302,910.10
VII. Total comprehensive income -129,131,066.52
65,664,664.10
Total comprehensive incomeattributable to owners of parent Company
-126,446,960.65
78,952,550.59
Total comprehensive incomeattributable to minority shareholders
-2,684,105.87
-13,287,886.49
VIII. Earnings per share:
(i) Basic earnings per share -0.1183
0.0773
(ii) Diluted earnings per share -0.1183
0.0773
Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)realized 0 Yuan at last period for combined partyLegal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
6. Profit Statement of Parent Company (form the year-begin to the period-end)
In RMBItem Current period Last periodI. Operating income 5,755,104,440.31
7,198,760,931.63
Less: Operating cost 5,374,829,779.12
6,438,821,213.52
Taxes and surcharge 51,017,607.45
59,372,381.91
Sales expenses 238,543,953.01
477,587,775.78
Administration expenses 83,951,545.31
100,853,326.37
R&D expenses 109,077,840.28
80,879,626.58
Financial expenses 3,773,786.93
2,111,585.97
Including: interestexpenses
59,550,849.69
54,418,469.14
Interest income 85,175,878.06
68,936,401.63
Add: other income 45,072,043.52
56,735,800.59
Investment income (Loss islisted with “-”)
118,151,575.24
20,154,143.04
on affiliated Company and joint venture
3,779,570.20
2,961,957.42
The termination ofincome recognition for financial assetsmeasured by amortized cost (Loss islisted with “-”)
Net exposure hedging income(Loss is listed with “-”)
Changing income of fairvalue (Loss is listed with “-”)
21,580,317.77
10,027,189.27
Loss of credit impairment(Loss is listed with “-”)
-19,248,489.48
10,417,545.43
(Loss is listed with “-”)
-9,357,570.78
| Losses of devaluation of asset |
-6,377,866.03
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Income on disposal of assets(Loss is listed with “-”)
-515,309.69
-659,108.67
II. Operating profit (Loss is listed with“-”)
49,592,494.79
129,432,725.13
Add: Non-operating income 2,274,090.68
244,520.00
Less: Non-operating expense
248,133.83
III. Total Profit (Loss is listed with “-”) 51,866,585.47
129,429,111.30
Less: Income tax -10,892,094.02
8,477,826.62
IV. Net profit (Net loss is listed with“-”)
62,758,679.49
120,951,284.68
(i)continuous operating net profit (netloss listed with ‘-”)
62,758,679.49
120,951,284.68
(ii) termination of net profit (netloss listed with ‘-”)
V. Net after-tax of other comprehensiveincome
(I) Other comprehensive incomeitems which will not be reclassifiedsubsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
be transfer to gain/loss
| income under equity method that cannot |
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(II) Other comprehensive incomeitems which will be reclassifiedsubsequently to profit or loss
1.Other comprehensive
income under equity method that cantransfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial
assets re-classify to other
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)comprehensive income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging
reserve
6.Translation differences
arising on translation of foreigncurrency financial statements
7.Other
VI. Total comprehensive income 62,758,679.49
120,951,284.68
VII. Earnings per share:
(i) Basic earnings per share 0.0601
0.1158
(ii) Diluted earnings per share 0.0601
0.1158
Legal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
7. Consolidated Cash Flow Statement (form the year-begin to the period-end)
In RMBItem Current period Last periodI. Cash flows arising from operatingactivities:
Cash received from sellingcommodities and providing laborservices
10,004,693,970.59
12,688,809,148.13
Net increase of customer depositand interbank deposit
Net increase of loan from centralbank
Net increase of capital borrowedfrom other financial institution
Cash received from originalinsurance contract fee
Net cash received from reinsur
business
| ance |
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Net increase of insured savingsand investment
Cash received from interest,commission charge and commission
Net increase of capital borrowed
Net increase of returned businesscapital
Net cash received by agents in
and purchase of securities
| sale |
Write-back of tax received 412,733,445.22
280,384,080.90
Other cash received concerningoperating activities
106,402,002.16
125,280,221.18
Subtotal of cash inflow arising fromoperating activities
10,523,829,417.97
13,094,473,450.21
Cash paid for purchasingcommodities and receiving laborservice
8,837,934,853.44
10,506,147,051.44
advances
| Net increase of customer loans and |
Net increase of deposits in centralbank and interbank
Cash paid for original insurancecontract compensation
Net increase of capital lent
Cash paid for interest, commissioncharge and commission
Cash paid for bonus of guaranteeslip
Cash paid to/for staff and workers 1,057,706,226.87
1,153,887,410.73
Taxes paid 237,937,839.39
448,423,347.16
Other cash paid concerningoperating activities
668,861,446.33
784,789,548.98
Subtotal of cash outflow arising fromoperating activities
10,802,440,366.03
12,893,247,358.31
Net cash flows arising from operatingactivities
-278,610,948.06
201,226,091.90
II. Cash flows arising from investingactivities:
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Cash received from recoveringinvestment
737,460,000.00
2,174,000,000.00
Cash received from investmentincome
42,570,007.43
37,989,139.50
Net cash received from disposal offixed, intangible and other long-termassets
381,041.58
19,483,459.24
Net cash received from disposal ofsubsidiaries and other units
Other cash received concerninginvesting activities
122,087,124.32
94,129,473.53
Subtotal of cash inflow from investingactivities
902,498,173.33
2,325,602,072.27
Cash paid for purchasing fixed,intangible and other long-term assets
296,007,313.74
266,302,834.52
Cash paid for investment 1,435,280,051.17
1,981,000,000.00
Net increase of mortgaged loans
Net cash received fromsubsidiaries and other units obtained
Other cash paid concerninginvesting activities
76,709,995.61
Subtotal of cash outflow from investingactivities
1,731,287,364.91
2,324,012,830.13
Net cash flows arising from investingactivities
-828,789,191.58
1,589,242.14
III. Cash flows arising from financingactivities
Cash received from absorbinginvestment
Including: Cash received fromabsorbing minority shareholders’investment by subsidiaries
Cash received from loans 1,703,478,583.33
1,308,256,908.10
Other cash received concerningfinancing activities
Subtotal of cash inflow from financingactivities
1,703,478,583.33
1,308,256,908.10
Cash paid for settling debts 1,374,663,591.82
1,925,202,449.42
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Cash paid for dividend and profitdistributing or interest paying
107,526,031.28
127,772,072.70
Including: Dividend and profit ofminority shareholder paid bysubsidiaries
4,796,676.00
2,274,030.00
Other cash paid concerningfinancing activities
2,432,566.62
32,764,857.16
| Subtotal of cash outflow from financing |
activities
1,484,622,189.72
2,085,739,379.28
Net cash flows arising from financingactivities
218,856,393.61
-777,482,471.18
IV. Influence on cash and cashequivalents due to fluctuation inexchange rate
-18,563,610.41
12,976,331.25
V. Net increase of cash and cashequivalents
-907,107,356.44
-561,690,805.89
Add: Balance of cash and cashequivalents at the period -begin
5,385,807,475.51
4,484,643,187.93
VI. Balance of cash and cashequivalents at the period -end
4,478,700,119.07
3,922,952,382.04
Legal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang Jun
8. Cash Flow Statement of Parent Company (form the year-begin to the period-end)
In RMBItem Current period Last periodI. Cash flows arising from operatingactivities:
Cash received from sellingcommodities and providing laborservices
4,354,136,982.12
6,358,153,483.13
Write-back of tax received 202,094,517.08
135,160,922.67
Other cash received concerningoperating activities
49,386,127.12
66,198,821.85
Subtotal of cash inflow arising from4,605,617,626.32
6,559,513,227.65
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)operating activitiesCash paid for purchasingcommodities and receiving laborservice
4,590,744,074.29
5,874,686,994.43
Cash paid to/for staff and workers 272,738,427.46
327,130,629.38
Taxes paid 53,367,393.47
156,564,790.86
Other cash paid concerningoperating activities
193,120,699.08
330,317,153.84
Subtotal of cash outflow arising fromoperating activities
5,109,970,594.30
6,688,699,568.51
Net cash flows arising from operatingactivities
-504,352,967.98
-129,186,340.86
II. Cash flows arising from investingactivities:
Cash received from recoveringinvestment
702,460,000.00
2,174,000,000.00
Cash received from investmentincome
110,756,490.39
42,579,139.50
Net cash received from disposal offixed, intangible and other long-termassets
293,300.00
6,708,283.94
Net cash received from disposal ofsubsidiaries and other units
Other cash received concerninginvesting activities
101,821,310.58
309,067,175.10
Subtotal of cash inflow from investingactivities
915,331,100.97
2,532,354,598.54
Cash paid for purchasing fixed,intangible and other long-term assets
119,262,604.64
139,125,420.63
Cash paid for investment 1,542,169,149.17
1,987,000,000.00
Net cash received fromsubsidiaries and other units obtained
Other cash paid concerninginvesting activities
22,000.00
75,426,953.88
Subtotal of cash outflow from investingactivities
1,661,453,753.81
2,201,552,374.51
Net cash flows arising from investingactivities
-746,122,652.84
330,802,224.03
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)III. Cash flows arising from financingactivities
Cash received from absorbinginvestment
Cash received from loans 1,302,447,383.33
1,064,409,999.44
Other cash received concerningfinancing activities
146,722,354.11
28,609,663.72
Subtotal of cash inflow from financingactivities
1,449,169,737.44
1,093,019,663.16
Cash paid for settling debts 961,397,944.82
1,451,985,025.00
Cash paid for dividend and profitdistributing or interest paying
94,605,755.57
114,912,675.86
Other cash paid concerningfinancing activities
163,963,741.66
121,717,485.21
| Subtotal of cash outflow from financing |
activities
1,219,967,442.05
1,688,615,186.07
Net cash flows arising from financingactivities
229,202,295.39
-595,595,522.91
IV. Influence on cash and cashequivalents due to fluctuation inexchange rate
-11,540,196.52
8,391,306.55
V. Net increase of cash and cashequivalents
-1,032,813,521.95
-385,588,333.19
Add: Balance of cash and cashequivalents at the period -begin
4,017,400,437.18
2,894,384,811.05
VI. Balance of cash and cashequivalents at the period -end
2,984,586,915.23
2,508,796,477.86
Legal Representative: Wu DinggangPerson in charge of accounting works: Pang HaitaoPerson in charge of accounting institute: Yang JunII. Explanation on financial statement adjustment
1. Financial statement adjustment at the beginning of the first year when implementation of new revenue
rules and new leasing rules from 2020
√ Applicable □Not applicable
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Whether to adjust the balance sheet account at the beginning of the year
√ Yes □No
(1) Consolidate balance sheet
In RMBItem December 31, 2019 January 1, 2020 Adjustment amountCurrent assets:
Monetary fund 5,499,601,030.64
5,499,601,030.64
Settlement provisions
Capital lent
Trading financial assets 7,730,268.92
7,730,268.92
Derivative financialassets
Note receivable 1,865,165,499.50
1,865,165,499.50
Account receivable 1,387,961,981.66
1,387,961,981.66
Receivable financing
Accounts paid inadvance
25,270,406.37
25,270,406.37
Insurance receivable
Reinsurance receivables
Contract reserve ofreinsurance receivable
Other accountreceivable
97,241,894.80
97,241,894.80
Including: Interestreceivable
9,510,208.63
9,510,208.63
Dividendreceivable
661,434.48
661,434.48
Buying back the sale offinancial assets
Inventories 1,460,910,189.06
1,460,910,189.06
Contractual assets
Assets held for sale
Non-current asset duewithin one year
Other current assets 63,604,031.96
63,604,031.96
Total current assets 10,407,485,302.91
10,407,485,302.91
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Non-current assets:
Loans and payments onbehalf
Debt investment
Other debt investment
Long-term accountreceivable
Long-term equityinvestment
88,556,511.70
88,556,511.70
Investment in otherequity instrument
Other non-currentfinancial assets
45,000,000.00
45,000,000.00
Investment real estate 96,343,760.13
96,343,760.13
Fixed assets 2,180,572,946.87
2,180,572,946.87
Construction in progress
252,494,792.31
252,494,792.31
Productive biologicalasset
Oil and gas asset
Right-of-use assets
Intangible assets 933,248,463.84
933,248,463.84
Expense on Researchand Development
101,078,659.57
101,078,659.57
Goodwill
Long-term expenses tobe apportioned
Deferred income taxasset
97,453,178.14
97,453,178.14
Other non-current asset
Total non-current asset 3,794,748,312.56
3,794,748,312.56
Total assets 14,202,233,615.47
14,202,233,615.47
Current liabilities:
Short-term loans 1,103,991,045.96
1,103,991,045.96
Loan from central bank
Capital borrowed
Trading financial1,081,534.93
1,081,534.93
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)liabilityDerivative financialliability
Note payable 3,490,271,482.40
3,490,271,482.40
Account payable 2,343,116,374.58
2,343,116,374.58
Accounts received inadvance
425,149,194.97
-425,149,194.97
Contractual liability
425,149,194.97
425,149,194.97
repurchase
| Selling financial asset of |
Absorbing deposit andinterbank deposit
Security trading of agency
Security sales of agency
Wage payable 196,507,174.68
196,507,174.68
Taxes payable 68,558,391.66
68,558,391.66
Other account payable 689,477,603.21
689,477,603.21
Including: Interestpayable
12,340,385.61
12,340,385.61
Dividendpayable
3,579,491.94
3,579,491.94
Commission charge andcommission payable
Reinsurance payable
Liability held for sale
Non-current liabilitiesdue within one year
1,708,193.90
1,708,193.90
Other current liabilities
Total current liabilities 8,319,860,996.29
8,319,860,996.29
Non-current liabilities:
Insurance contract reserve
Long-term loans 401,280,000.00
401,280,000.00
Bonds payable
Including: Preferredstock
Perpetualcapital securities
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Lease liability
Long-term accountpayable
3,016,921.44
3,016,921.44
Long-term wagespayable
13,774,110.61
13,774,110.61
Accrual liability 166,099,143.97
166,099,143.97
Deferred income 179,970,971.92
179,970,971.92
Deferred income taxliabilities
6,256,759.14
6,256,759.14
Other non-currentliabilities
Total non-current liabilities 770,397,907.08
770,397,907.08
Total liabilities 9,090,258,903.37
9,090,258,903.37
Owner’s equity:
Share capital 1,044,597,881.00
1,044,597,881.00
Other equity instrument
Including: Preferredstock
Perpetualcapital securities
Capital public reserve 2,684,366,619.10
2,684,366,619.10
Less: Inventory shares
Other comprehensiveincome
-18,931,430.36
-18,931,430.36
Reasonable reserve
Surplus public reserve 410,786,860.20
410,786,860.20
Provision of general risk
Retained profit 884,127,743.42
884,127,743.42
Total owner’ s equityattributable to parentcompany
5,004,947,673.36
5,004,947,673.36
Minority interests 107,027,038.74
107,027,038.74
Total owner’ s equity 5,111,974,712.10
5,111,974,712.10
Total liabilities and owner’ sequity
14,202,233,615.47
14,202,233,615.47
Statement of adjustment:
The Company implemented the Accounting Standards for Business Enterprise No.14- Revenue (Cai Kuai [2017]
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)No.22) since 1 January 2020, the “Accounts received in advance” will list as “Contractual liability”.
(2) Balance Sheet of Parent Company
In RMBItem December 31, 2019 January 1, 2020 Adjustment amountCurrent assets:
Monetary funds 4,040,632,437.18
4,040,632,437.18
Trading financial assets 5,967,556.00
5,967,556.00
Derivative financialassets
Note receivable 1,722,707,248.74
1,722,707,248.74
Account receivable 1,158,563,389.33
1,158,563,389.33
Receivable financing
Accounts paid inadvance
34,374,932.07
34,374,932.07
Other accountreceivable
41,964,639.42
41,964,639.42
Including: Interestreceivable
7,880,186.85
7,880,186.85
Dividendreceivable
661,434.48
661,434.48
Inventories 339,728,296.66
339,728,296.66
Contractual assets
Assets held for sale
Non-current assetsmaturing within one year
Other current assets 11,930,690.86
11,930,690.86
Total current assets 7,355,869,190.26
7,355,869,190.26
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equityinvestments
1,698,744,114.99
1,698,744,114.99
Investment in otherequity instrument
Other non-currentfinancial assets
45,000,000.00
45,000,000.00
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text) Investment real estate 7,314,721.80
7,314,721.80
Fixed assets 1,138,092,635.67
1,138,092,635.67
Construction in progress
106,575,581.28
106,575,581.28
Productive biologicalassets
Oil and natural gasassets
Right-of-use assets
Intangible assets 483,887,751.05
483,887,751.05
Research anddevelopment costs
56,295,271.74
56,295,271.74
Goodwill
Long-term deferredexpenses
Deferred income taxassets
77,849,317.77
77,849,317.77
Other non-current assets
Total non-current assets 3,613,759,394.30
3,613,759,394.30
Total assets 10,969,628,584.56
10,969,628,584.56
Current liabilities Short-term borrowings 1,009,757,944.82
1,009,757,944.82
Trading financialliability
1,016,052.00
1,016,052.00
Derivative financialliability
Notes payable 1,936,867,907.42
1,936,867,907.42
Account payable 1,497,704,307.48
1,497,704,307.48
Accounts received inadvance
147,365,864.56
-147,365,864.56
Contractual liability
147,365,864.56
147,365,864.56
Wage payable 39,633,867.87
39,633,867.87
Taxes payable 20,427,731.13
20,427,731.13
Other accounts payable 520,559,494.30
520,559,494.30
Including: Interestpayable
13,175,235.76
13,175,235.76
Dividend3,579,491.94
3,579,491.94
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)payableLiability held for sale
Non-current liabilitiesdue within one year
Other current liabilities
Total current liabilities 5,173,333,169.58
5,173,333,169.58
Non-current liabilities:
Long-term loans 401,280,000.00
401,280,000.00
Bonds payable
Including: preferredstock
Perpetualcapital securities
Lease liability
Long-term accountpayable
Long term employeecompensation payable
13,774,110.61
13,774,110.61
Accrued liabilities 158,742,319.21
158,742,319.21
Deferred income 67,664,815.53
67,664,815.53
Deferred income taxliabilities
742,725.60
742,725.60
Other non-currentliabilities
Total non-current liabilities 642,203,970.95
642,203,970.95
Total liabilities 5,815,537,140.53
5,815,537,140.53
Owners’ equity:
Share capital 1,044,597,881.00
1,044,597,881.00
Other equity instrument
Including: preferredstock
Perpetualcapital securities
Capital public reserve 2,753,017,007.10
2,753,017,007.10
Less: Inventory shares
Other comprehensiveincome
CHANGHONG MEILING CO., LTD. THE THIRD QUARTERLY REPORT FOR 2020(Full Text)Special reserve
Surplus reserve 410,568,694.52
410,568,694.52
Retained profit 945,907,861.41
945,907,861.41
Total owner’s equity 5,154,091,444.03
5,154,091,444.03
Total liabilities and owner’sequity
10,969,628,584.56
10,969,628,584.56
Statement of adjustmentThe Company implemented the Accounting Standards for Business Enterprise No.14- Revenue (Cai Kuai [2017]No.22) since 1 January 2020, the “Accounts received in advance” will list as “Contractual liability”.
2. Retrospective adjustment of the comparative data for initial implementation of new revenue rules and
new leasing rules from 2020
□Applicable √Not applicable
III. Audit report
Whether the 3
rd
quarterly report has been audited or not
□Yes √ No
The 3rdquarterly report of the Company has not been audited.
Changhong Meiling Co., Ltd.Chairman: Wu Dinggang20 October 2020