HEFEI MEILING CO., LTD SEMI-ANNUAL REPORT 2015
HEFEI MEILING CO., LTD.
SEMI-ANNUAL REPORT 2015
August 2015
HEFEI MEILING CO., LTD SEMI-ANNUAL REPORT 2015
Section I. Important Notice, Contents and Paraphrase
Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of
Hefei Meiling Co., Ltd. (hereinafter referred to as the Company) hereby confirm that there are no
any fictitious statements, misleading statements, or important omissions carried in the Semi-Annual
Report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and
completion of the whole contents.
There are no directors, supervisors and senior executives of the Company could not guarantee
the reality, accuracy and completion of the whole contents or have objections.
All the directors attended the board meeting on discussing the Semi-Annual Report in both
ways of site and communication.
The Company has no plans of cash dividend distributed, no bonus shares and has no share
converted from capital reserve either.
Chairman of the Company Mr. Liu Tibin, President Mr. Li Wei, Vice President and chief
financial officer Mr. Zhang Xiaolong and Mr.Luo Bo, person in charge of accounting organ
(accounting supervisor) hereby confirm that the Financial Report of Semi-Annual Report 2015 is
authentic, accurate and complete.
The Financial Report of Semi-Annual Report 2015 of the Company had not been audited by
CPAs.
Concerning the forward-looking statements with future planning involved in the Report, they
do not constitute a
Substantial commitment for investors. Investors are advised to exercise caution of investment
risks.
HEFEI MEILING CO., LTD SEMI-ANNUAL REPORT 2015
Content
Section I. Important Notice, Contents and Paraphrase .......................................................... 1
Section II. Company Profile ...................................................................................................... 4
Section III. Accounting data and summary of financial indexes ........................................... 6
Section IV. Report of the Board of Directors ........................................................................... 9
Section V. Important Events .................................................................................................... 32
Section VI. Changes in Shares and Particulars about Shareholders ................................... 99
Section VII. Preferred Stock .................................................................................................. 104
Section VIII Particular about Directors, Supervisors, Senior Executives and Employees105
Section IX. Financial Report ................................................................................................. 106
Section X. Documents Available for Reference ................................................................. 240
HEFEI MEILING CO., LTD SEMI-ANNUAL REPORT 2015
Paraphrase
Items Refers to Contents
Company, the Company or Meiling
Refers to HEFEI MEILING CO., LTD
Electric
Sichuan Changhong or controlling
Refers to Sichuan Changhong Electric Co., LTD
shareholder
Changhong Group Refers to Sichuan Changhong Electronics Group Co., Ltd.
Hong Kong Changhong Refers to Changhong (Hong Kong) Trading Company Limited
Meiling Group Refers to Hefei Meiling Group Holdings Limited
Xingtai Holding Refers to Hefei Xingtai Holding Group Co., Ltd.
Shine Wing Refers to Shine Wing Certified Public Accountants Co., Ltd. (LLP.)
Changhong Air-conditioner Refers to Sichuan Changhong Air-conditioner Co., Ltd.
Jiangxi Meiling Electric Refers to Jiangxi Meiling Electrical Co., Ltd.
Mianyang Meiling Refers to Mianyang Meiling Refrigeration Co., Ltd.
Zhongshan Changhong Refers to Zhongshan Changhong Electric Co., LTD
Mianyang Meiling Software Refers to Mianyang Meiling Software Technology Co., Ltd.
Zhiyijia Refers to Sichuan Zhiyijia Network Technology Co., Ltd.
Changhong Finance Company Refers to Sichuan Changhong Group Finance Co., Ltd.
Tianyou Guigu Refers to Sichuan Tianyou Guigu Technology Co., Ltd.
Huayi Compressor Refers to Huayi Compressor Co., Ltd.
CSRC Refers to China Securities Regulatory Commission
China Securities Regulatory Commission, Anhui Province
Anhui Securities Bureau Refers to
Securities Regulatory Bureau
SSE Refers to Shenzhen Stock Exchange
HEFEI MEILING CO., LTD SEMI-ANNUAL REPORT 2015
Section II. Company Profile
I. Company information
MEILINGDIANQI,
Short form of the Stock Stock code 000521, 200521
WANMEILING-B
Short form of the Stock after
N/A
changed (if applicable)
Listing stock exchange Shenzhen Stock Exchange
Chinese name of the Company 合肥美菱股份有限公司
Short form of the Company (in
美菱电器
Chinese)
Foreign name of the Company(if
HEFEI MEILING CO.,LTD.
applicable)
Abbr. of English name of the
HFML
Company(if applicable)
Legal representative Liu Tibin
II. Contact person and ways
Secretary of the Board Representative of Securities affairs
Name Li Xia Zhu Wenjie
No. 2163, Lian Hua Road, Economic and No. 2163, Lian Hua Road, Economic and
Contact adds.
Technology Development Zone, Hefei Technology Development Zone, Hefei
Tel. 0551-62219021 0551-62219021
Fax. 0551-62219021 0551-62219021
E-mail lixia@meiling.com wenjie.zhu@meiling.com
III. Others
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the
Company changed in reporting period or not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company
has no change in reporting period, found more details in Annual Report 2014.
HEFEI MEILING CO., LTD SEMI-ANNUAL REPORT 2015
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish
appointed by CSRC and preparation place for semi-annual report have no change in reporting
period, found more details in Annual Report 2014.
3. Registration changes of the Company
Whether registration has changed in reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration number for enterprise legal license,
number of taxation registration and organization code have no change in reporting period, found
more details in Annual Report 2014.
4. Other relevant information
Whether other relevant information has changed in reporting period or not
□ Applicable √ Not applicable
HEFEI MEILING CO., LTD SEMI-ANNUAL REPORT 2015
Section III. Accounting data and summary of financial indexes
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for
accounting policy changed and accounting error correction or not
□Yes √ No
Same period of last Increase/decrease in
Current period
year this report y-o-y
Operating revenue (RMB) 6,426,917,289.25 6,344,389,052.17 1.30%
Net profit attributable to shareholders of
158,369,766.68 159,106,275.83 -0.46%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 148,569,574.10 143,657,925.11 3.42%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
343,410,987.03 -272,408,725.76 226.06%
activities(RMB)
Basic earnings per share (RMB/Share) 0.2074 0.2083 -0.46%
Diluted earnings per share (RMB/Share) 0.2074 0.2083 -0.46%
0.12 percent point
Weighted average ROE (%) 4.52% 4.64%
down
Increase/decrease in
this report-end over
End of current period End of last period
that of last
period-end
Total assets (RMB) 10,467,292,489.73 9,009,014,201.70 16.19%
Net assets attributable to shareholder of
3,526,953,220.26 3,422,746,664.67 3.04%
listed company(RMB)
Total share capital of the Company up to a trading day before disclosure:
Total share capital of the Company up to a trading
763,739,205
day before disclosure (Share)
Whether share capital of the Company, from period-end to the disclosure date of semi-annual report, has
changed and has influenced on amount of owners’ equity due to the new shares issuing, increase issues in stocks,
allotment, stock ownership incentive exercise and buy-back etc. or not
□Yes √No
HEFEI MEILING CO., LTD SEMI-ANNUAL REPORT 2015
II. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS
(International Accounting Standards) and Chinese GAAP (Generally Accepted Accounting
Principles)
□ Applicable √ Not applicable
The Company has no difference of the net profit and net assets disclosed in financial report,
under both IAS (International Accounting Standards) and Chinese GAAP (Generally Accepted
Accounting Principles) in reporting period.
2. Difference of the net profit and net assets disclosed in financial report, under both foreign
accounting rules and Chinese GAAP (Generally Accepted Accounting Principles)
√ Applicable □Not applicable
In RMB
Net profit attributable to shareholders of Net assets attributable to shareholders of
listed company listed company
Amount in this Amount at
Amount in last period Amount at period-begin
period period-end
Chinese GAAP 158,369,766.68 159,106,275.83 3,526,953,220.26 3,422,746,664.67
Items and amount adjusted by foreign accounting rules
Foreign accounting rules 158,369,766.68 159,106,275.83 3,526,953,220.26 3,422,746,664.67
The Company has no difference of the net profit and net assets disclosed in financial report,
under both foreign accounting rules and Chinese GAAP (Generally Accepted Accounting Principles)
in reporting period.
3. Reasons for the differences of accounting data under accounting rules in and out of China
√ Applicable □Not applicable
The ―Notice of Relevant Issues of Audit for Company with Domestically Foreign Shares
Offering‖ was issued from CSRC dated 12 September 2007, since the day issuing, cancel the
previous ―dual audit‖ requirement for companies who offering domestically listed foreign shares
(B-share enterprise) while engaging securities practice qualification CPA for auditing. The
Company did not compile financial report under foreign accounting rules since 2007, the financial
report of the Company is complying on the ―Accounting Standard for Business Enterprise‖ in China,
and therefore, there are no differences of accounting data under accounting rules in and out of
China at period-end.
HEFEI MEILING CO., LTD SEMI-ANNUAL REPORT 2015
III. Items and amounts of extraordinary profit (gains)/loss
√ Applicable □Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset
Found in ―Non-operating
(including the write-off that accrued for impairment of -5,682,027.31
expenditure‖
assets)
Governmental subsidy reckoned into current
gains/losses (not including the subsidy enjoyed in quota Found in ―Non-operating
12,344,884.49
or ration according to national standards, which are expenditure‖
closely relevant to enterprise’s business)
Found in ―Investment
Gain/loss from commissioned investment or assets 517,808.22
income‖
Held transaction financial asset, gains/losses of changes
of fair values from transaction financial liabilities, and
investment gains from disposal of transaction financial Found in ―Investment
asset, transaction financial liabilities and financial asset 4,133,602.00 income‖ and ―Changes in
available for sales, exclude the effective hedging fair value gains/losses‖
business relevant with normal operations of the
Company
Other non-operating income and expenditure except for Found in ―Non-operating
-1,122,350.47
the aforementioned items expenditure‖
Impact on income tax 503,618.35 ——
Impact on minority shareholders’ equity (post-tax) -111,894.00 ——
Total 9,800,192.58 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information
Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items
defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A
Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public ---
Extraordinary Profit/loss, explain reasons
□ Applicable √Not applicable
In reporting period, the Company has no particular about items defined as recurring profit
(gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on
Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary
Profit/loss
HEFEI MEILING CO., LTD SEMI-ANNUAL REPORT 2015
Section IV. Report of the Board of Directors
I. Summary
For the first half of 2015, the overall domestic economy presented to be stable with steady
growth, especially the distinct warming-back of real estate market. However, declining pressure and
difficulties also existed in economics. For the first half year, our GDP experienced a year-on-year
increase of 7.0%; the three pillar demands decreased simultaneously; the aggregate import and
export volume decreased by 6.9%; investments to fixed assets recorded nominal increase of 11.4%,
representing a drop of 2.1 percentage points as compared to the first quarter; the aggregate retail
sales amount of consumptives recorded a year-on-year increase of 10.4%, representing a drop of 0.2
percentage points as compared to the first quarter.
In the first half year, competition was getting more furious for home appliance industry,
remarking deteriorating market conditions. During the early period, as driven by the advantageous
policies relating to home appliances sent to countryside and energy saving, this industry was able to
enter into high speed development phrase. However, as those policies gradually faded out, home
appliance industry of China began to fluctuate under the ―New Normal‖ economic conditions, in
particular, the overall performance of both domestic and export refrigerators and air conditioners
continued to shrink in 2015. According to China Market Mo
