合肥美菱股份有限公司
HEFEI MEILING CO., LTD.
二〇一六年年度报告
Annual Report 2016
HEFEI MEILING CO., LTD. Annual Report 2016
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 this report, and
shall take all responsibilities, individual and/or joint, for the reality, accuracy and completion of the
whole contents.
Mr. Liu Tibin, Chairman of the Company, Mr. Zhang Xiaolong, person in change of
accounting work and Mr. Luo Bo, person in charger of accounting organ (accountant in charge)
hereby confirm that the Financial Report of 2015 Annual Report is authentic, accurate and
complete.
The Company did not have 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 deliberating the Annual Report in both ways of
site and communication.
Modified audit opinions notes
□ Applicable √ Not applicable
Shine Wing Certified Public Accountants Co., Ltd.(LLP) issued standard unqualified Auditors‘
Report for the Company‘s Financial Report of 2016
Major defects in internal control
□ Applicable √ Not applicable
The Company had no major defects in internal control in the reporting period.
Risk warining of concerning the forward-looking statements with future planning involved in
annual report
√ Applicable □Not applicable
Concerning the forward-looking statements with future planning involved in the Report, they
do not constitute a substantial commitment for investors, investors and the person concerned should
maintain adequate risk awareness, furthermore, differences between the plans, forecast and
commitments should be comprehended. Investors are advised to exercise caution of investment
risks.
Investors are advised to read the full text of annual report, and pay particular attention to the
HEFEI MEILING CO., LTD. Annual Report 2016
following risk factors.
More details about the possible risks and countermeasures in the operation of the Company are
described in the report ―IV. Prospects for the future development of the company‖ of ―Section IV
analysis and discussion of the operation‖, investors are advised to read the relevant content.
Securities Times, China Securities Journal, Hong Kong Commercial Daily and Juchao Website
(www.cninfo.com.cn) are the media for information disclosure for year of 2017 that appointed by
the Company. All public information under the name of the Company disclosed on the above said
media and website shall prevail, and investors are advised to exercise caution.
Does the Company need to comply with disclosure requriments of the special industry: No
Profit distribution pre-plan or capitalizing of common reserves pre-plan deliberated by the
Board in the reporting period
√ Applicable □Not applicable
The profit distribution plan for year of 2016, that deliberated and approved by 29th session of
the 8th BOD was: take total shares of 1,044,597,881 shares as base dated 31 December 2016，
distributed 0.6 Yuan (tax included) bonus in cash for every 10-share hold by all shareholders, no
share bonus issued and no capitalizing of common reserves carried out.
Whether has capitalizing of common reserves carried out
□Yes √ No
Directors and senior executives of the Company respectively signed Written Confirmation
Opinions for 2016 Annual Report.
Supervisory Committee of the Company formed Written Examination Opinions for 2016
Annual Report.
HEFEI MEILING CO., LTD. Annual Report 2016
Contents
Section I Important Notice, Contents and Paraphrase ................................................................. 1
Section II Company Profile and Main Finnaical Indexes ............................................................. 5
Section III Summary of Company Business ................................................................................ 14
Section IV Discussion and Analysis of the operation .................................................................. 20
Section V Important Events .......................................................................................................... 61
Section VI Changes in shares and particular about shareholders............................................. 129
Section VII Preferred Stock……………………………………………………………………145
Section VIII Particulars about Directors, Supervisors,Senior Executives and Employees .... 146
Section IX Corporate Governance ............................................................................................... 160
Section X Corporate bonds ........................................................................................................... 177
Section XI Financial Report .......................................................................................................... 178
Section XII Documents available for reference ........................................................................... 321
HEFEI MEILING CO., LTD. Annual Report 2016
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 Holding Group Co., Ltd.
Hong Kong Changhong Refers to CHANGHONG (HK) TRADING LIMITED
Meiling Group Refers to Hefei Meiling Group Holdings Limited
Industry Investmnt Group Refers to Hefei Industry Investment Holding (Group) Co., Ltd.
Xingtai Holding Refers to Hefei Xingtai Financial Holding (Group) Co., Ltd.
Shine Wing Refers to Shine Wing Certified Public Accountants (LLP)
Changhong Air-conditioner Refers to Sichuan Changhong Air-conditioner Co., Ltd.
Zhongke Meiling Refers to Zhongke Meiling Cryogenic Technology Co., Ltd.
Hongyun Venture Capital Fund Refers to Sichuan Hongyun New IT Venture Capital Fund
Zhiyijia Refers to Sichuan Zhiyijia Network Technology Co., Ltd.
Changhong Ridian Refers to Guangdong Changhong Ridian Technology Co., Ltd.
Zhongshan Changhong Refers to Zhongshan Changhong Electric Co., LTD
Changmei Technology Refers to Changmei Technology Co., Ltd.
Meiling Software Refers to Mianyang Meiling Software Technique Co., Ltd.
Mianyang Refrigeration Refers to Mianyang Meiling Refrigeration 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. Annual Report 2016
Section II Company Profile and Main Finnaical Indexes
I. Company information
MEILINGDIANQI,
Short form of the stock Stock code 000521, 200521
WANMEILING-B
Short form of the Stock after
——
changed (if applicable)
Stock exchange for listing Shenzhen Stock Exchange
Name of the Company (in
合肥美菱股份有限公司
Chinese)
Short form of the Company (in
美菱电器
Chinese)
Foreign name of the Company
HEFEI MEILING CO.,LTD.
(if applicable)
Abbr. of English name of the
——
Company (if applicable)
Legal representative Liu Tibin
Registrations add. No. 2163, Lianhua Road, Economic and Technology Development Zone, Hefei
Code for registrations add
Offices add. No. 2163, Lianhua Road, Economic and Technology Development Zone, Hefei
Codes for office add.
website http://www.meiling.com
e-mail info@meiling.com
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Li Xia Zhu Wenjie
No. 2163, Lianhua Road, Economic and No. 2163, Lianhua Road, Economic and
Contact add.
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. Information disclosure and preparation place
Newspaper appointed for information Securities Times, China Securities Journal, Hong Kong
HEFEI MEILING CO., LTD. Annual Report 2016
disclosure Commercial Daily
Website for annual report publish appointed by
Juchao website: http://www.cninfo.com.cn
CSRC
Room of secretary of the Board, 2/F , administrative center,
Preparation place for annual report
Office building of the Company
IV. Registration changes of the Company
Organization code Uniform social credit code: 9134000014918555XK
Changes of main business since listing No changes
1. In October 1993, after initial listing, controlling shareholder of the
Company-- Hefei Meiling Industrial Corp. (named Hefei Meiling Group
Co., dated 23 May 1994), executing controlling rights of the Company
and management right of the state-owned assets on behalf of Hefei
State-owned Assets Management Office, named at that time;
2. From November 1997 to May 2003, controlling shareholder of the
Company was Hefei Meiling Group Holding Co., Ltd. (established base
on former Meiling Group Co.,, ―Meiling Group‖ for short), an
enterprise solely owned by the State; mainly operating the state-owned
capital in authorized from State-owned Assets Management
Commission of Hefei City, ensuring the maintenance and appreciation
of state-owned assets;
3. On 29 May 2003, Meiling Group entered into ―Equity Transfer
Agreement‖ with Shunde GreenKel Enterprise Development Co., ltd.
(―GreenKel‖), the 82,852,683 state-owned shares held by the Company
was transfer to GreenKel. After transferring, GreenKel comes to the first
Previous changes for controlling
largest shareholder of the Company.
shareholders
4. According to the spirit of ―Bulletin of Treatment Opinions on
GreenKel Company purchasing State-owned Assets Shares of Listed
Company‖ (GZFCQ[2006] No.: 44) jointly issued from SASAC and
Ministry of Finance in April 2006, Meiling Group took back the Meiling
Electric 82,852,683 shares from GreenKel by procedures, which has
been transferred. In September 2006, relevant equity transfer agreement
signed between the Meiling Group and GreenKel is invalid, which was
confirmed by the ―Award‖ ((2006) HZZ No.: 104) issued from
arbitration commission of Hefei; the state-owned legal person‘s
82,852,683 shares, held by GreenKel, should return to Meiling Electric,
and relevant equity consideration will pay to GreenKel by Meiling
Group . On 29 December 2006, the 82,852,683 shares of Meiling
Electric were transfer to Meiling Group by GreenKel, and Meiling
Group becomes the controlling shareholder of Meiling Electric again.
5. On 18 May 2006 and 11 January 2007, Meiling Group entered into
―Equity Transfer Agreement of Meiling Electric‖ and ―Supplementary
HEFEI MEILING CO., LTD. Annual Report 2016
Agreement of Equity Transfer of Meiling Electric‖ respectively with
Sichuan Changhong and Changhong Group, among the 123,396,375
shares held by Meiling Group, 82,852,683 shares were transferred
respectively to Sichuan Changhong and Changhong Group according to
the transfer way regulated in agreement; of this transferring, 45,000,000
shares (10.88% of total share capital of the Company) were transferred
to Sichuan Changhong, the first largest shareholder of the Company
while 37,852,683 shares (9.15% of total share capital of the Company)
were transferred to Changhong Group, the third largest shareholder of
the Company.
6. On 29 October 2008, Changhong Group and Sichuan Changhong
entered into ―Equity Transfer Agreement of Hefei Meiling Co., Ltd.‖,
the 32078846 restricted circulations A shares of Meiling Electric held by
Changhong Group were transferred by agreement to Sichuan
Changhong. On 23 December 2008, the aforesaid equity transfer was
approved by ―Reply on Matters of Equity held by State-owned
Shareholders of Hefei Meiling Co., Ltd.‖ (GZCQ(2008) No.: 1413)
from SASAC; on 21 January 2009, the aforesaid transfer was registered
for ownership transfer in Shenzhen Branch of China Securities
Depository and Clearing Corporation Limited.
7. Ended as 31 December 2016, Sichuan Changhong and its concerted
action Changhong HK totally holds 259,871,791 shares of the
Company, a 24.88% in total share capital of the Company; Sichuan
Changhong directly holds 234,705,968 A-share of the Company, a
22.47% in total share capital of the Company while Changhong HK
holds circulation B-share of the Company amounting as 25,165,823
shares, a 2.41% in total share capital of the Company.
V. Other relevant information
(I) CPA engaged by the Company
Name of CPA Shine Wing Certified Public Accountants (LLP)
9/F, Block A, Fu Hua Mansion No.8 Chao Yang Men Bei da jie, Dong Cheng
Offices add. for CPA
District, Beijing, P.R.C
Signing Accountants He Yong, Xia Cuiqiong
(II) Sponsor engaged by the Company for performing continuous supervision duties in
reporting period
√Applicable □Not applicable
Duration of continous
Sponsor institution Office address Sponsor representative
supervision
Shenwan Hongyuan No. 19, Taipingqiao 14 October 2016 to 31
Qin Mingzheng, Qiu Feng
Securities Underwriting Steet,Xichang District, December 2017
HEFEI MEILING CO., LTD. Annual Report 2016
Sponsor Co., Ltd. Beijing
(III) Financial consultant engaged by the Company for performing continuous supervision
duties in reporting period
□ Applicable √ Not applicable
VI. 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
Changes
2015 over last
2016 year
After
Before adjustment After adjustment Before adjustment After adjustment
adjustment
Operating
income 12,526,710,867.49 10,415,829,226.48 10,754,200,188.12 16.48% 10,764,808,259.00 10,978,535,964.36
(RMB)
Net profit
attributable to
shareholders
220,216,680.96 26,496,345.34 27,104,893.56 712.46% 294,508,518.37 289,842,658.03
of the listed
company(RM
B)
Net profit
attributable to
shareholders
of the listed
company after 158,461,015.10 93,951,365.12 93,951,365.12 68.66% 245,759,705.69 245,759,705.69
deducting
non-recurring
gains and
losses(RMB)
Net cash flow
arising from
operating 985,390,895.63 211,468,056.21 229,371,185.23 329.61% 165,462,930.48 205,636,234.26
activities(RM
B)
Basic earnings
0.2717 0.0347 0.0355 665.35% 0.3856 0.3795
per share
HEFEI MEILING CO., LTD. Annual Report 2016
(RMB/Share)
Diluted
earnings per
0.2717 0.0347 0.0355 665.35% 0.3856 0.3795
share
(RMB/Share)
5 percent
Weighted
5.77% 0.78% 0.77% point 8.88% 8.50%
average ROE
increase
Changes
End of 2015 over end End of 2014
End of 2016 of last year
After
Before adjustment After adjustment Before adjustment After adjustment
adjustment
Total assets
12,507,567,310.84 9,066,223,601.14 9,237,288,359.74 35.40% 9,009,014,201.70 9,205,651,651.39
(RMB)
Net assets
attributable to
shareholder of
5,095,160,291.91 3,384,574,993.19 3,475,377,055.14 46.61% 3,422,746,664.67 3,512,940,178.40
listed
company
(RMB)
Notes: the Company succeeded to acquire 98.856% equity interests of Guangdong Changhong Ridian
Technology Co., Ltd (―Changhong Ridian‖) through bidding at the end of 2015, and completed registration
procedures at competent industrial and commercial authority in respect of this equity transfer at early February
2016. Upon completion of this equity transfer, the Company was to hold 98.856% equity interests of Changhong
Ridian. Under relevant provisions of Enterprise Accounting Principles No.33-Consolidated Financial Statement,
in respect of the subsidiaries and their businesses acquired arising from business consolidation under the same
control during the reporting period, parent company shall adjust the beginning figures stated in the consolidated
statement and adjust the relevant items in the comparative statement accordingly as if the reporting entity after the
consolidation had been in existence since the time when the ultimate controller commenced to exercise control.
Therefore, the beginning figures and the figures of the corresponding period of last year have been restated.
The cause of the accounting policy change and accounting error correction
□ Applicable √ Not applicable
Total share capital of the Company up to a trading day before disclosure:
Total share capital of the Company up to a trading
1,044,597,881
day before disclosure (Share)
Fully diluted earnings per share calculated with the
0.2717
latest share capital (RMB/Share)
HEFEI MEILING CO., LTD. Annual Report 2016
Whether have corporate bonds or not
□Yes √ No
VII. Accounting data difference under domestic and foreign accounting standards
(I) 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.
(II) 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 last Amount at Amount at
Amount in this period
period period-end period-begin
Chinese GAAP 220,216,680.96 27,104,893.56 5,095,160,291.91 3,475,377,055.14
Items and amount adjusted by foreign accounting rules
Foreign accounting rules 220,216,680.96 27,104,893.56 5,095,160,291.91 3,475,377,055.14
The Company had no difference of the net profit or net assets disclosed in financial report,
under either foreign accounting rules or Chinese GAAP (Generally Accepted Accounting Principles)
in the period.
(III) 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
HEFEI MEILING CO., LTD. Annual Report 2016
China at period-end.
VIII. Quarterly main financial index
In RMB
First quarter Second quarter Third quarter Fourth quarter
Operating income 2,926,400,488.89 3,940,230,773.79 3,130,593,704.26 2,529,485,900.55
Net profit attributable to
shareholders of the listed 53,709,680.24 56,283,021.04 55,295,963.61 54,928,016.07
company
Net profit attributable to
shareholders of the listed
41,338,292.32 49,463,362.39 42,159,261.91 25,500,098.48
company after deducting
non-recurring gains and losses
Net cash flow arising from
139,597,747.12 732,091,757.77 691,250,144.50 -577,548,753.76
operating activities
Whether there are significant differences between the above-mentioned financial index or its total number
and the relevant financial index disclosed in the company‘s quarterly report and semi-annual report
□Yes √ No
IX. Items and amounts of extraordinary profit (gains)/loss
√Applicable □ Not applicable
In RMB
Item 2016 2015 2014 Note
Found in
―Non-operating
Gains/losses from the disposal of
income and
non-current asset (including the
9,265,320.01 -4,315,502.74 -431,173.22 expenditure‖ of
write-off that accrued for impairment
Notes of
of assets)
Financial
accounting report
Governmental subsidy reckoned into
Found in
current gains/losses (not including the
―Non-operating
subsidy enjoyed in quota or ration
41,152,549.66 29,285,357.05 41,165,417.52 income‖ of Notes
according to national standards, which
of Financial
are closely relevant to enterprise‘s
accounting report
business)
Gain/loss from debt restructure -- -- 955,413.10 Without payment
Current net gain/losses of the Changhong
subsidiary merger under the same -- 615,594.18 -4,719,883.10 Ridian-merger
control from beginning of the period under the same
HEFEI MEILING CO., LTD. Annual Report 2016
to combination date control in the
Period, restate
the statement of
comparative
financial data
Held transaction financial asset, Found in
gains/losses of changes of fair values ―Investment
from transaction financial liabilities, income‖ and
and investment gains from disposal of ―Changes in fair
transaction financial asset, transaction value
11,500,963.72 2,313,967.35 378,330.00
financial liabilities and financial asset gains/losses‖ of
available for sales, exclude the Notes of
effective hedging business relevant Financial
with normal operations of the accounting
Company report‖
Found in
―Non-operating
Other non-operating income and income and
expenditure except for the 4,948,619.55 -103,646,326.02 10,535,869.24 expenditure‖ of
aforementioned items Notes of
Financial
accounting report
‖ Found in
―Investment
Gain/losses items qualified definition
3,798,660.03 -- -- income‖ of Notes
of the non-recurring gains/losses
of Financial
accounting report
Less: impact on income tax 8,534,266.32 -9,078,920.45 3,576,592.95 --
Impact on minority shareholders‘
376,180.79 178,481.83 224,428.25 --
equity (post-tax)
Total 61,755,665.86 -66,846,471.56 44,082,952.34 --
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
Involved amount
Item Reason
(RMB)
During the reporting period, the wholly owned subsidiary -
Non-operating income 7,122,432.52
Mianyang Meiling Software Technique Co., Ltd. has
HEFEI MEILING CO., LTD. Annual Report 2016
received VAT refunds of software products according to
\"Notice about VAT policy of software products by Ministry
of Finance & State Administration of Taxation\" CS No.
[2011] 100 document, and adequately disclosed the
company's business situation, in accordance with relevant
provisions in the third article of the second item of CSRC
\"No. 1 explanatory announcement about information
disclosure of the company publicly issues securities -
non-recurring profit and loss (2008)\", the public subsidies
which are closely related to the company's business,
conform to the national policies and regulations and
continue to be enjoyed according to a certain standard rating
or quantity should be included in the company's recurring
gains and losses.
13
HEFEI MEILING CO., LTD. Annual Report 2016
Section III Summary of Company Business
I. Main businesses of the company in the reporting period
Does the Company need to comply with disclosure requirements of the special industry?
□Yes √ No
(I) Main businesses of the Company
The company is one of China's major electric appliance manufacturers, possesses four major
domestic manufacturing bases in Hefei, Mianyang, Jingdezhen and Zhongshan, and two overseas
manufacturing bases in Indonesia and Pakistan, covering the full product line including ice,
washing, air, kitchen and bath, small household appliances and others, at the same time, the
company enters into the fresh e-business, bio-medical and other new industrial fields.
Over the past 30 years, the company has always been adhering to the \"independent innovation,
created in China\", elaborately building the core competitiveness of enterprises by technological
innovation and product innovation. The company has set up the first RoHS public testing center in
Anhui Province, the state-level enterprise technology center and the top-end R & D team, so that
Meiling can continue to achieve breakthrough results in the variable frequency, energy saving,
frost-free, cryogenic, intelligence and other fields.
In recent years, with the rapid development of Internet, cloud computing, big data and a new
generation of information technology, the intelligence of home appliance industry has become the
future development direction. Faced with the new changes in the industry development, the
company puts forward the \"Double Three One Core\" strategy, \"One Core\" is intelligence. Under the
guidance of \"intelligent\" strategy, in 2014, the company released CHiQ refrigerator with \"cloud
image recognition\" as the core and CHiQ air conditioner based on \"human state perception\"
technology; in 2015, the company began to implement the \"Intelligent Life Project\" to explore new
path for the enterprise development; in 2016, the company launched the first \"Intelligent Home
Eco-circle Plan\" in the global white goods industry and brought out the world's first
temperature-zone free custom-made Internet of Things refrigerator (the second generation ―Space
Intelligence\" CHiQ refrigerator) and the world's first user free custom-made intelligent air steward
(CHiQ intelligent air steward) to accelerate the implementation of intelligent strategy. At the same
time, the company successfully raised 1.57 billion Yuan of funds in the capital market by the
non-public offering of shares which were mainly used in three key platforms including Meiling
intelligent manufacturing, intelligent research and development and intelligent life, which provided
strong supports for the company's development and intelligent transformation. In addition, since the
company launched \"the whole people change for variable frequency\" activities and announced to
entirely eliminate fixed frequency refrigerator in 2015, the company‘s variable frequency products
increased the proportion, the technical advantages the company has in variable frequency as well as
HEFEI MEILING CO., LTD. Annual Report 2016
the application of frequency conversion technology enabled the company to have greater
advantages in the implementation of new energy efficiency standards.
During the reporting period, in the big environment of continuous downturn in the entire
industry, the company's main products have been full of potential gains, outperforming the broader
market. At the same time, the company has expanded the product lines for household appliances
and kitchen appliances by obtaining the stock rights of Guangdong Changhong Ridian in bidding, in
addition, the expansion of Zhongke Meiling cryogenic B2B product line and the goods development
momentum of ifoodtube fresh e-business platform indicated the layout of the company's white
goods + small appliances has been initially completed.
Nowadays, with the landing of a series of CHiQ intelligent products, continuous rising
proportion of variable frequency products, diversified layout of product lines, and construction of
fresh business platform in Meiling intelligent life O2O community, the company is gradually
improving the home Internet layout, accelerating the intelligent process of household appliances,
forming the \"hardware + service\" dual growth engine, driving the transformation and upgrading of
the company‘s profit model, exploring new value-added pattern for the home appliance enterprise
services, meeting new pattern of industry competition, and achieving its own sustained and stable
development.
In reporting period, main income of the Company coming from refrigerator(freezer), air
conditioner, washing machine, small home appliances and kitchen & toilet products, total
amounting to 12,025.1034 million Yuan, a 96% of the operating income.
(II) Conditions of the industry the company involved
In 2016, China's economy was in the growth shift period and painful structural adjustment
period, under this background, home appliances industry faced severe challenges and opportunities
for development at the same time, which mainly reflected in following aspects:
The home appliance industry has entered from the rapid growth period into the gradually stable
replacement period and from the broader market growth into the aggressive growth, the whole
industry will enter into the shuffling period.
China is in the third consumption upgrade stage, with the advent of quality consumption and
the upgrading of consumption structure and concept, product structure optimization and
transformation and upgrading have become the industry's main theme. On the one hand, the country
further improves the industry competition threshold and accelerates the upgrading of product
structure after fully implementing the new energy efficiency standards. On the other hand, the
deepening of the supply side reform and rising prices of raw materials not only bring management
pressure to enterprises, but also promote the structural upgrading of home appliances, get rid of
low-end and abnormal price competition, and return to rational value competition at the same time,
and put forward higher requirements to product development, brand status, terminal promotion, and
channel capacity of enterprises.
With the development of urbanization and the improvement of living standards, the new
consumer groups pay more attention to high-quality, intelligent and healthy environmental
protection products. The traditional home appliance industry has serious homogenization, all home
appliance manufacturers actively embrace the Internet, seek for cross-border cooperation, and
HEFEI MEILING CO., LTD. Annual Report 2016
develop intelligent home, intelligence has become a new bright spot and inevitable choice for the
industry development. Intelligent wave also promotes the cross-border cooperation between home
appliance enterprises and Internet companies, so actively exploring business model innovation and
enhancing the user experience have become an important engine for a new round of rapid growth of
household electrical appliance enterprises.
In 2016, China's economic operation has been slow but stable, stable and good, the new
normal features have been more obvious. In the \"new normal\" economic situation, the home
appliance industry has been weak in growth and showing a downward trend. At the same time, with
the arrival of Internet and intelligence era, influenced by the further strengthening of brand
concentration ratio in the industry, rising costs of raw materials and logistics, structure upgrading of
consumer demand, cross-border impact of Internet companies and other factors, the competition in
household appliance industry has intensified, and promoted the transformation and upgrading the
industry. High end and intelligence have become the inevitable choice for the development of home
appliance industry.
II. Major changes in main assets
(I) Major changes in main assets
Major assets Note of major changes
Equity assets No major changes.
Fixed assets No major changes.
Intangible assets No major changes.
The intelligent manufacturing project and relocation expansion of the
Construction in progress
subsidiary Zhongke Meiling and Mianyang Refrigeration
(II) Main overseas assets
√ Applicable □Not applicable
Foreign
assets Whether
Reason for Oper Control measure to accounted exist
Content of assets the Asset size Location ation ensure the security Income (RMB) for net significant
formation mode of assets asssets of impairment
the risk
Company
Details of risks
control measures
60% equity of Investment have been
US$ 7.44
Changhong Ruba establishme Pakistan Sales disclosed by the -2,423,682.54 0.91% N
million
Trading Company nt Company by way
of announcement
on appointed
HEFEI MEILING CO., LTD. Annual Report 2016
media (No.
2011-028, No.
2011-032, No.
2014-023, No.
2014-026, No.
2016-027and No.
2016-032) on 28
May 2011, 19
April 2014 and 25
March 2016
Details of risks
control measures
have been
disclosed by the
Company by way
40% equity of
of announcement
Changhong Ruba Investment Manu
US$ 6.524 on appointed
Electric establishme Pakistan factur -2,827,153.12 0.57% N
million media (No.
Company(Private) nt e
2011-028, No.
Ltd.
2011-032, No.
2014-023 and No.
2014-026) on 28
May 2011 and 19
April 2014
Details of risks
control measures
have been
100% equity disclosed by the
KELAPA
ofCHANGHONG Investment Company by way
US$ 6 GADING,
MEILING establishme Sales of announcement -1,059,555.43 0.38% N
million JKT,
ELECTRIC nt on appointed
Indonesia
INDONESIA.PT media (No.
2016-027 and No.
2016-032) on 25
March 2016
Other notes N/A
III. Core Competitiveness Analysis
Does the Company need to comply with disclosure requirements of the special industry?
□Yes √ No
1. Brand capacity
HEFEI MEILING CO., LTD. Annual Report 2016
The Company is one of the famous home appliances manufacturers in the PRC, owns several
product lines such as refrigerator, freezing box and air conditioner. Meiling trademark is listed as
one of the most valuable brands in the PRC. The trademark ―Athena‖ in refrigerator, freezer
(services) of the Company was recognized as the famous mark in Anhui Province. The Company
released CHiQ intelligent first and second generation refrigerator, AC and intelligent air steward in
succession. And creating a high-end intelligent brand image around the plan of ―Wisdom Home
Ecosystem‖ for opening a white intelligence era. While in order to enhance the brand image and
further expand the market influence of the brand, the company held a conference for \"New LOGO
release and offline of the 10th million set of frequency conversion products\" in October 2015,
comprehensively updated LOGO \" \", and launched the new brand proposition of
\"Meiling, let the good come\". Along with the release of new LOGO, Meiling will also implement a
brand strategy of \"Good Trilogy\", including the direct sensory experience of ―experience the good\",
the spirit soul enjoyment of ―enjoy the good‖, and the lifestyle faith of ―believe in the good‖.
By our efforts to rebuild our brand, Meiling will realize a young, international and professional
brand image. Through gradual construction of the ideas of Wonderful Start Point, Wonderful Life
Circle and Wonderful Ecology Circle, Meiling has become a people-oriented artist specializing in
white appliances, a smarter scientific expert and a more reliable house keeper.
2.Product capacity
In more than 30 years, the company has been focusing on the refrigeration industry, has
developed a variety of different types of refrigerator products that lead the industry development
trend, including two-door and multi-door Athena series of high-end refrigerators, top-level
energy-saving refrigerators with daily power consumption of only 0.23 degrees, CHiQ refrigerator
taking \"cloud image recognition 'technology as the core, and 2nd generation-CHiQ refrigeration,
which can realized the space change along with the food requirements with human-oriented
charateristics.
The Company owned advanced development and quality assurance systems, and received
certification of ISO9001, ISO14000 and OHSAS18001 from domestic and overseas authorities. The
products of the Company have good quality and reliable capacities. As for technology development,
the Company owned national technology centers, and advanced core technologies in energy-saving,
air cooling, intelligence and copious cooling. As for product development, combine with technology
development trend and characteristics of demand from upgrades in consumers, the Company, put
more efforts on products planning. In 2016, continues to expand the development of medium&high
quality products, including CHiQ intellectual products, inverter products, air patenting, multi zone
and large volume, the product has obvious upgrade in structures.
As for the air conditioning products, the company adheres to the technical strategy by taking
HEFEI MEILING CO., LTD. Annual Report 2016
intelligence and variable frequency as the core, intensively studies the human state perception
technology and intelligent interactive technology, focuses on completing the research and
development of intelligent voice recognition technology and productization, successively releases
the first generation of CHiQ air conditioner based on \"human state perception\" technology and
CHiQ intelligent air steward that can automatically change air.
The company continues to adhere to the intelligent and variable frequency products, and
promote the company's products to continuously transform to high end by boosting the follow-up
research and development, promotion and technology updates of intelligent and variable frequency
products. Meanwhile, the company improves the manufacturing efficiency and product quality,
reduces product costs and enhances product competitiveness by comprehensively implementing
intelligent upgrading and rebuilding to all production lines. In addition, the company improves the
home appliance product line through the layout of kitchen and bath and small household appliances
and has initially completed the layout for integrated white goods. Based on \"Intelligent Home
Eco-circle\" plan and taking the existing products as the core, the company will enhance the
development, manufacturing, sales and collaboration capabilities of integrated white goods, and
provide users with a set of intelligent white goods system solutions.
3. Operation capacity
The Company conducted benchmark management to improve its basic management level. In
specific, efficiency enhancement has been made in areas of personnel, money and materials, trying
to continuously enhance the internal management. A performance review and sharing system has
been established with clear target and quantity index based on performance and layered incentive
sharing system, thus to inspire the internal production capacity. Under the mainline of value chain
management, the Company continued to carry out value creation and improve its competitiveness.
Its ability to prevent risks has been also strengthened through continuous improvement of internal
control system.
4. Marketing ability
The company has established a relatively complete sales network and service system, the
domestic sales channels emphasizing online and offline collaboration and integration, through the
business operation mode system construction (target management, value chain management, sales
promotion, product mix and channel strategy, etc.) and promotion, the pace of business this year
constantly tends to be benign, has a balanced development in chain, wholesale, e-commerce and
other channels, and the product competitiveness has been improved; the overseas market has been
strengthened by increasing the investments in overseas marketing organizations, research and
development bases and production bases, the company has been actively develop the overseas
market, and the products have been exported to more than 100 countries and regions.
HEFEI MEILING CO., LTD. Annual Report 2016
Section IV Discussion and Analysis of the Operation
1. Introduction
In 2016, as the first year of the company's \"13th Five-Year Plan\", under the guidance of the
strategy \"Meiling Dream\" and \"Double Three One Core\", the company adheres to the operating
principles of \"progress in opposite trend, innovation and activation, industry benchmarking, benign
operation\", the company has overcome the negative factors including weak macroeconomic
growth and continuous decline of industry broad market by the joint efforts of all staff, and
achieved a better start. Thereinto, the domestic refrigerators (freezers) have outperformed the
industry market, e-commerce business has greatly grown, the market position of export
refrigerators (freezers) has been improved; domestic sales of air conditioners have largely
increased, export growth speed is faster; washing machines have a rapid development; kitchen and
bath and small appliances are also increasing rapidly. The company's position in the home
appliance market has been further consolidated and upgraded and become the white goods brand
with rapid growth in domestic and foreign markets in recent years which has a huge user group,
and many years of market accumulation substantially promotes the brand awareness and has a
higher industry status. In 2016, the company has achieved operating income of RMB 12.527
billion, an increase of 16.48% on a year-on-year basis; net profit attributable to the parent company
of RMB 0.220 billion , an increase of 712.46% on a year-on-year basis.
II. Main Business Analysis
(I) Overview
Shows no difference with the summary disclosed in Report of the Board of Director
□Yes √No
1. Introduction
During the reporting period, in the face of the continuous decline in the broader market of
home appliance industry, the company has overcome the pressure, the whole lines of main product
sales have outperformed the board market; product line diversification has achieved a
breakthrough, and the layout for integrated white goods + small household appliance product lines
has been initially completed; cost control and the efficiency promotion have a significant result;
the goals established for 2016 have been achieved, the industry's market position has been further
enhanced, and the export sales business has maintained the momentum of rapid growth, and has
become the white brand with a rapid growth in domestic and foreign markets in recent years.
In 2016, refrigerator and freezer business achieved revenue of approximately RMB 6.679
billion, 10.99% increased on a y-o-y basis; air-conditioning business achieved revenue of
approximately RMB 4.158 billion, 21.74% up y-o-y; washing machine business achieve revenue
HEFEI MEILING CO., LTD. Annual Report 2016
around RMB 0.508 billion, with year-on-year growth of 42.73%; other business of small home
appliance and kitchen & toilet products have revenue approximately as RMB 0.68 billion with
28.36% up y-o-y. at the same time, revenue from exportation gains RMB 2.917 billion, a y-o-y
growth of 33.28%
The company's sales in domestic refrigerator (freezer), air conditioner, washing machine has
outperformed the industry market, and the market position have been further consolidated and
improved. From the offline market sales, CMM‘s (China Market Monitor Co., Ltd.) data show that
the retail volume of refrigerator industry declined by 4.59% on a year-on-year basis, but the retail
volume of the company's refrigerator rose by 3.49% on a year-on-year basis; the retail volume of
freezer industry declined by 10.02% on a year-on-year basis, but the retail volume of the
company's freezer rose by 0.23% on a year-on-year basis; the retail volume of air-conditioning
industry rose by 3.49% on a year-on-year basis, and the retail volume of the company's
air-conditioning rose by 15.19% on a year-on-year basis; the retail volume of washing machine
industry declined by 2.74% on a year-on-year basis, but the retail volume of the company's
washing machine rose by 34.79% on a year-on-year basis. At the same time, CMM‘s data also
show that the market share of the company‘s refrigerator retail volume reached 8.70%, rising by
0.84% on a year-on-year basis; the market share of the company‘s freezer retail volume reached
9.72%, an increase of 0.89% on a year-on-year basis; and the market shares of air conditioning,
and washing machine also increased on a year-on-year basis.
(1)From the online sales, AVC (All View Cloud) data show that the company‘s online
refrigerator (freezer) and air conditioning sales have further enlarged the results. The retail sales of
refrigerator industry rose by 57.5% on a year-on-year basis; the retail sales of the company‘s
refrigerator rose by 74.9% on a year-on-year basis; the retail sales of freezer industry rose by
84.9% on a year-on-year basis; the retail sales of the company‘s freezer rose by 88.6% on a
year-on-year basis; the retail sales of air-conditioning industry rose by 73.2% on a year-on-year
basis; the retail sales of the company‘s air-conditioning rose by 166.0% on a year-on-year basis. At
the same time, as for the online markets, AVC data show that the market share of the company‘s
refrigerator retail sales reached 7.01%, an increase of 0.70% on a year-on-year basis; the market
share of the company‘s freezer retail sales reached 10.48%, an increase of 0.21% on a year-on-year
basis; and the market shares of air conditioning, and washing machine retail sales also increased on
a year-on-year basis.
(2) As for the export business, the company's refrigerator, freezer, and air-conditioning
product lines have continued to maintain a rapid growth like a few years ago. According to the
customs data and statistics, the amount of exports of refrigerator industry rose by 3.00% on a
year-on-year basis, the company's amount of exports rose by 17.19% on a year-on-year basis; the
amount of exports of freezer industry rose by 5.43% on a year-on-year basis, the company's
amount of exports rose by 9.92% on a year-on-year basis; the amount of exports of air
conditioning industry rose by 5.71% on a year-on-year basis, the amount of exports of the
company's air conditioning rose by 44.81% on a year-on-year basis, the export growth of the
company‘s refrigerator (freezer) and air conditioning exceeded the industry. In terms of the market
shares, according to the customs data and statistics, the market share of the company‘s refrigerator
exports reached 5.92%, an increase of 0.71% on a year-on-year basis; the market share of freezer
exports reached 2.94%, an increase of 0.12% on a year-on-year basis; the market share of air
HEFEI MEILING CO., LTD. Annual Report 2016
conditioning exports reached 1.32%, an increase of 0.36% on a year-on-year basis;
2. Progress of the company's development strategy and business plan during the
reporting period
During the reporting period, in accordance with the development strategy and operating
principles of \"progress in opposite trend, innovation and activation, industry benchmarking, benign
operation\" in 2016, the company has deployed the annual business plan, arranged the production
and management, and carried out the following activities:
(1) Progress in opposite trend
During the reporting period, the company's operating income scale has increased significantly,
and the main profit has also increased on a year-on-year basis. Among them, the refrigerator
(freezer) products have achieved upgrades in the domestic market share by constantly promoting
the variable frequency and intelligence and adjusting the product structure; air-conditioning
products have achieved a year-on-year growth in domestic revenues and improvements in
profitability by active promotion of energy efficiency upgrades while benefiting from weather and
other factors; meanwhile, the company has actively strengthened the overseas business market
development and product line expansion, achieved the rapid growth of export business this year, as
well as the sustainable growth of operating incomes from washing machines and small household
appliance businesses.
(2) Innovation & Activation
During the reporting period, the company has further changed the sense of business and way
of thinking, and mobilized and stimulated the competitiveness of all business modules by
innovative mechanisms. The company has taken value-oriented principle, not only intensified KPI
assessment, but also expanded the scope of performance sharing; stimulated the potential by
sinking incentive unit, encouraged the pursuit of individual performance and overall performance
enhancing to stimulate the enthusiasm of all business modules; set up the innovation incentive
platform for engineering and technical personnel values, and encouraged innovation in technology
management.
To achieve the targets of the company's \"13th Five-Year Plan\", the company takes \"high
targets, high traction, high pay, high return\" as the guide and combines with the actual situation of
subordinate business units and subsidiaries to actively promote the design and demonstration and
implement the interim performance incentive plan (5 years) or equity incentive plan (5 years) to all
subordinate business units and subsidiaries, and strive to fully release the enthusiasm of staff.
(3) Industry benchmarking
In 2016, the company has developed management benchmarking in the market position,
research and development cycle, manufacturing capacity, efficiency promotion and other aspects,
and has achieved certain results. Among them, in terms of market position, in addition to the rise
of domestic and export market position, the domestic average price of benchmarking project has
achieved significant results, the average prices of Meiling refrigerator products have increased by
96 Yuan / set on a year-on-year basis, of which the growing rate has ranked first among the
HEFEI MEILING CO., LTD. Annual Report 2016
domestic top five brands, and further narrowed the gap with the top-ranked brands; the company's
air-conditioning products have successfully selected for the energy-saving leader, first-level energy
efficiency variable frequency led industry switching, product structure has improved significantly,
the average prices of online products have rapidly increased; the growing rate of Meiling washing
machine has ranked top in the industry; the structure of small household appliances and kitchen
electrical products has continued to be optimized, channel layout has been deepened, and
e-commerce business has been rapidly growing, so that the company can build kitchen ecosphere
and maintain industry-leading. In the R&D cycle, the capacity baseline has increased by 29%; in
manufacturing capacity, the inspection rate and export on-time delivery rate of refrigerator (freezer)
large customers have continued to improve while the cumulative reject rate of products has been
declining; in efficiency promotion, manpower efficiency promotion focuses on the exploration of
platform functions and the organization optimization way of business support separation, and
material efficiency promotion focuses on persistently digesting the bad stock and inactive stock by
strengthening production and marketing coordination and strictly controlling production reserves,
and funds efficiency promotion focuses on making a good use of stock funds, expanding
incremental capital, and increasing financial incomes.
(4) Benign operation
During the reporting period, in the company's operations, on the one hand, the company has
pulled through the value chain, refined the accounting management of operation unit, improved the
market control and early warning capabilities; on the other hand, the company has emphasized the
benign operation of sales, further strengthened the terminal price management, and strictly
controlled the fixed expenditure to be in the budget target, which made the company's annual
operating efficiency further improved. Among them, the company's material efficiency has
increased by 20% or more on a year-on-year basis, the money efficiency has increased by more
than 5% on a year-on-year basis, and manpower efficiency has continued to improve.
At the same time, during the reporting period, the company's air-conditioning industry has a
benign operation, the sales scale and profitability have greatly improved compared to 2015, the
company has released the world's first user free custom-made intelligent air steward (CHiQ
intelligent air steward), and accelerated the promotion and implementation of intelligent strategy.
Washing machine products have been promoting to constantly transform and upgrade to variable
frequency, intelligent, quiet, energy saving, health washing products by insisting on the product
strategy of large volume + variable frequency, technological innovation, quality leadership,
differentiated operation.
In addition, the company has continued to improve the home appliance industry chain and
product line, purchased Changhong Ridian by bidding the stock rights so as to possess its own
platform for kitchen and bath, small household appliances products; during the reporting period,
Changhong Ridian has further strengthened the kitchen and bath, and small household appliances
businesses, adjusted the organization, established the product centers, realized the integration of
product planning, research and development and cost management, smart small household
appliances highlight the practicality and usability. At the same time, the e-commerce business of
small household appliances is rapidly developing.
At the same time, during the reporting period, the company's improvement project for
HEFEI MEILING CO., LTD. Annual Report 2016
intelligent manufacturing capacity has been progressing smoothly, phase I refrigerator intelligent
manufacturing benchmark line project has entered pilot construction; intelligent R & D investment
has promoted a new generation of intelligent and variable frequency products, and the effect is
obvious; smart life project has been advancing as planned, Changmei Science and Technology Co.,
Ltd. has been established and had Mianyang and Hefei business units, the company has its own
fresh e-commerce brand ―ifoodtube‖ which has more than 130,000 members and its daily order
volume peak can reach more than 3,900.
Overall, in 2016, faced with multiple impacts of macroeconomic downturn, industry decline,
intense competition and cross-border of Internet companies, the company has outperformed the
market in product sales, achieved breakthroughs in product line diversification, and obtained
remarkable and good results in cost control and efficiency improvement through the joint efforts of
all Meiling people. On the other hand, the company has actively explored new paths for the
transformation and upgrading of home appliance enterprises under the in-depth development of
Internet technology, introduced the industry's first \"Intelligent Home Eco-circle Plan\", taken its
own hardware products as the terminal, and explored the new business models around the food, air,
water and other needs.
(II) Revenue and cost
1. Constitute of operation revenue
In RMB
2016
Ratio in Ratio in Increase/dec
Amount operation Amount operation rease y-o-y
revenue revenue
Total of operation
12,526,710,867.49 100% 10,754,200,188.12 100% 16.48%
revenue
According to industries
Manufacture of
12,025,103,352.55 96.00% 10,318,999,424.25 95.95% 16.53%
household appliances
Other 501,607,514.94 4.00% 435,200,763.87 4.05% 15.26%
According to products
Refrigerator, freezer 6,678,568,374.39 53.32% 6,017,333,150.01 55.95% 10.99%
Air-conditioning 4,158,164,312.32 33.19% 3,415,727,210.45 31.76% 21.74%
Washing machine 508,133,090.63 4.06% 356,011,057.00 3.31% 42.73%
Small appliance and 3.38%
423,162,351.81 288,940,970.60 2.69% 46.45%
kitchen
Other products 257,075,223.40 2.05% 240,987,036.19 2.24% 6.68%
Other 501,607,514.94 4.00% 435,200,763.87 4.05% 15.26%
According to region
HEFEI MEILING CO., LTD. Annual Report 2016
Domestic 9,603,142,676.83 76.66% 8,562,301,327.00 79.62% 12.16%
Foreign 2,923,568,190.66 23.34% 2,191,898,861.12 20.38% 33.38%
2. About the industries, products, or regions accounting for over 10% of the company’s
operating income or operating profit
√Applicable □ Not applicable
In RMB
Increase/decrea
Increase/decrea Increase/decrea
Operating Gross profit se of gross
Operating cost se of operating se of operating
revenue ratio profit ratio
revenue y-o-y cost y-o-y
y-o-y
According to industries
Manufacture of
household 12,025,103,352.55 9,590,231,985.74 20.25% 16.53% 16.43% 0.07%
appliances
According to products
Refrigerator,
6,678,568,374.39 5,236,031,795.08 21.60% 10.99% 12.94% -1.36%
freezer
Air-conditionin
4,158,164,312.32 3,354,925,254.82 19.32% 21.74% 17.93% 2.61%
g
According to region
Domestic 9,108,442,083.44 6,976,734,143.90 23.40% 12.03% 11.22% 0.55%
Foreign 2,916,661,269.11 2,613,497,841.84 10.39% 33.28% 33.10% 0.11%
Under circumstances of adjustment in reporting period for statistic scope of main business
data, adjusted main business based on latest one year‘s scope of period-end
□ Applicable √ Not applicable
3. Income from physical sales larger than income from labors
√ Yes □ No
Increase/decrease
Industries Item Unit 2016
y-o-y (%)
Manufacture of Sales volume 10 thousand pieces/set 1,237.08 957.27 29.23%
household
Production 10 thousand pieces/set 1,253.24 945.96 32.48%
appliances
industry Inventory 10 thousand pieces/set 130.62 114.46 14.12%
Reasons for y-o-y relevant data with over 30% changes
√Applicable □Not applicable
(1)In reporting period, the Company successful bidding 98.856% equity of Guangdong
Changhong Ridian Technology Co., Ltd. (hereinafter referred as to Changhong Ridian), the data
HEFEI MEILING CO., LTD. Annual Report 2016
above mentioned including the data of Changhong Ridian;
(2)In reporting period, products and sales of the products has a greatly growth on a y-o-y
basis due to the rapidly soaring of washing machine and kitchen and small home appliances
products
4. Fulfillment of the company’s signed significant sales contracts up to this reporting
period
□ Applicable √ Not applicable
5. Constitute of operation cost
Industry classification
In RMB
2016 2015 Increase/d
Industries Item Ratio in Ratio in operation ecrease
Amount Amount
operation cost cost y-o-y
Manufacture of
household Raw
8,760,386,320.44 91.58% 7,461,553,895.88 90.59% 0.99%
appliances material
industry
6. Whether the changes in the scope of consolidation in Reporting Period
√ Yes □ No
More details can be seen in the report ―VII. Changes in the scope of the merger‖ and ―VIII.
Interests in other entities‖ of ―Section XI Financial Report‖.
7. Major changes or adjustment in business, product or service of the Company in
Reporting Period
□ Applicable √ Not applicable
8. Major sales and main suppliers
(1) Major sales client of the Company
Total top five clients in sales (RMB) 4,437,473,136.69
Proportion in total annual sales volume for top five clients 35.42%
Proportion of the related parties‘ sales in total annual sales
23.74%
volume for top five clients
Information of top five clients of the Company
Serial Name Sales (RMB) Proportion in total annual sales
1 Client I 1,432,924,635.31 11.44%
HEFEI MEILING CO., LTD. Annual Report 2016
2 Client II 1,254,945,781.06 10.02%
3 Client III 1,089,287,870.68 8.69%
4 Client IV 451,034,633.20 3.60%
5 Client V 209,280,216.44 1.67%
Total -- 4,437,473,136.69 35.42%
Other situation of main clients
□ Applicable √ Not applicable
(2) Main suppliers of the Company
Total purchase amount from top five suppliers (RMB) 2,000,373,874.42
Proportion in total annual purchase amount for top five
17.98%
suppliers
Proportion of related party‘s purchase in total annual purchase
11.80%
amount for top five suppliers
Information of top five suppliers of the Company
Proportion in total annual
Serial Name Sales (RMB)
purchase
1 Supplier I 445,928,352.23 4.01%
2 Supplier II 438,755,474.68 3.94%
3 Supplier III 427,639,189.69 3.84%
4 Supplier IV 404,822,829.32 3.64%
5 Supplier V 283,228,028.50 2.55%
Total -- 2,000,373,874.42 17.98%
Other notes of main suppliers of the Company
□ Applicable √ Not applicable
(III) Expenses
In RMB
Increase/decre
2016 2015 Note of major changes
ase y-o-y
Sales expense 1,855,396,448.81 1,574,408,045.18 17.85% --
Management expense 472,146,980.73 431,057,033.53 9.53% --
Monetary fund has a great
Financial expense -139,879,189.92 -102,034,012.45 -37.09% operational efficiency
improvement in the Period
Income tax expenses 29,044,015.72 11,226,998.22 158.70% Taxable income tax has a y-o-y
HEFEI MEILING CO., LTD. Annual Report 2016
growth in the Period
(IV) R&D expenses
√ Applicable □Not applicable
In 2016 the company has continued to promote the intelligent strategy, increased the
research and development to CHiQ series intelligent refrigerators and intelligent air conditioning.
In the refrigerator, surrounded by the core technology (intelligent, frequency, energy saving and air
cooling), the company has built the core competitiveness, released and published CHiQ second
generation refrigerator that is people-centered and can realize space intelligent change according
to the food needs. The company has vigorously promoted the 0.1 ℃ inverter series refrigerator by
the opportunity of implementing new energy efficiency standards for refrigerators, and the inverter
refrigerator has continued to significantly increase the proportion. The technology development
mainly surrounds the company's technical planning and core technology to carry out the research
on food recognition technology, food preservation technology, odor detection technology,
energy-saving and quite technology, wide speed conversion technology, and air duct design
technology.
As for air conditioning, the company insists on the technical strategy of taking intelligence
and frequency as the core based on the strategic planning of overall intelligent air ecological circle,
takes recognition technology as the core, deeply researches the human state perception technology
and intelligent interactive technology, focuses on intelligent speech recognition technology
research and development and products, and releases intelligent air steward; complete the core
technology research and development for fourth generation of intelligent and comfortable precise
temperature control technology platform, carry out research on the internal air duct, external flow
field, heat exchange simulation and vibration noise CFD & CAE, achieve the full leadership in
user perception, program costs, production efficiency, system reliability; inverter class A series
products enter the national \"energy efficiency lead\" list; complete the platform construction for L
product, realize the release of \"Xiaomanyao\" intelligent voice king, \"Quezhiling\" intelligent eye
and other series of air-conditioning products, take the leading in achieving artificial intelligence
breakthrough in the industry, create man-machine natural interaction mode, and win high praise
from the industry and consumers.
In the cryogenic technology, the company‘s subsidiary listed on new three board - Zhongke
Meiling has developed the second generation of deep-freezing storage box. It has unique narrow
type appearance; multi-layer sealed thermal insulation, adopts two-layer foaming door and three
rubber seal stripes design to maximumly preserve the internal cooling of the box; increases the
LCD display system to timely get the temperature and collection of data; uses ergonomic door
handle that is easy to open, and the double lock design increases security. The blood refrigerator
has technological improvement and adopts unique airduct design so as to have better temperature
HEFEI MEILING CO., LTD. Annual Report 2016
uniformity in refrigeration; new multi-function thermostat, the temperature can be switched, while
the thermostat has a USB jack, you can write the temperature curve into a U disk, so that users can
get to know the storage temperature of plasma bag easily. In addition, the \"Internet +
cryopreservation equipment\" in the biological sample management system pushes the
cryopreservation equipment to the Internet age, thereby transform the cryopreservation equipment
from the sales product to providing the users with cryopreservation services.
R&D investment of the Company
2016 2015 Change ratio
Number of R&D (people) 1204 802 50.12%
Ratio of number of R&D 10.85% 10.68% 0.17 percentage points up
R&D investment (Yuan) 680,286,093.75 626,725,377.52 8.55%
R&D investment accounted
5.43% 5.83% 0.40 percentage points down
for R&D income
R&D investment
62,282,986.30 64,103,620.26 -2.84%
capitalization (Yuan)
Capitalization R&D
investment accounted for 9.16% 10.23% 1.07 percentage points down
R&D investment
The reason of great changes in the proportion of total R&D investment accounted for
operation income than last year
□ Applicable √ Not applicable
Reason for the great change in R&D investment capitalization rate and rational description
□ Applicable √ Not applicable
(V) Cash flow
In RMB
Item 2016 2015 Y-o-y changes
Subtotal of cash in-flow
12,094,822,197.35 10,097,011,753.74 19.79%
from operation activity
Subtotal of cash out-flow
11,109,431,301.72 9,867,640,568.51 12.58%
from operation activity
Net cash flow from
985,390,895.63 229,371,185.23 329.61%
operation activity
Subtotal of cash in-flow
694,384,009.64 538,913,277.50 28.85%
from investment activity
Subtotal of cash out-flow 1,629,560,848.76 1,090,536,212.59 49.43%
HEFEI MEILING CO., LTD. Annual Report 2016
from investment activity
Net cash flow from
-935,176,839.12 -551,622,935.09 -69.53%
investment activity
Subtotal of cash in-flow
3,184,640,052.87 1,705,764,746.56 86.70%
from financing activity
Subtotal of cash out-flow
1,418,900,313.83 1,998,885,682.25 -29.02%
from financing activity
Net cash flow from
1,765,739,739.04 -293,120,935.69 --
financing activity
Net increased amount of
1,864,937,181.75 -587,935,955.10 --
cash and cash equivalent
Main reasons for y-o-y major changes in aspect of relevant data
√ Applicable □Not applicable
Net cash flow from operation activity have major changes, mainly because the sales money
received in the Period increased over same period of last year;
Net cash flow from investment activity have major changes, mainly because the principal of
trust investment paid in the period has a y-o-y growth;
Net cash flow from financing activity have major changes, mainly because collecting the
money of non-public offering shares in the Period, and there are no such amount received from a
year earlier;
Reasons of major difference between the cash flow of operation activity in report period and
net profit of the Company
√ Applicable □Not applicable
The operating payable at period-end increased over that of period-begin
III. Analysis of the non-main business
√ Applicable □Not applicable
In RMB
Ratio in Whether be
Amount Note
total profit sustainable
Disposal of company-Meiling Package in
Investment income 14,302,482.67 5.74% N
the Period
Gains from the change of fair value of
Changes in fair value 11,500,963.72 4.61% forward foreign exchange contract in the N
Period
Accrual of the inventory falling price
Asset impairment 1,353,446.69 0.54% N
reserves in the Period
Non-operating Government grants received in the Period
57,917,677.26 23.24% N
income
HEFEI MEILING CO., LTD. Annual Report 2016
Non-operating Losses from disposal of non-current assets
5,949,509.51 2.39% N
expense in the Period
IV. Assets and liability
(I) Major changes of assets composition
In RMB
End of 2016 End of 2015
Ratio in Ratio in Ratio
Notes of major changes
Amount total Amount total changes
assets assets
Collecting the money of
Monetary fund 4,058,869,234.63 32.45% 2,135,189,879.15 23.11% 9.34% non-public offering shares and
sales money in the Period
Account No major changes
1,118,960,552.49 8.95% 1,338,396,321.83 14.49% -5.54%
receivable
Inventory 1,974,526,734.86 15.79% 1,554,946,209.51 16.83% -1.04% No major changes
Investment real No major changes
13,275,631.40 0.11% 14,084,213.51 0.15% -0.04%
estate
Long-term No major changes
equity 81,643,631.37 0.65% 74,239,547.01 0.80% -0.15%
investment
Fix assets 1,204,093,169.72 9.63% 1,267,493,931.98 13.72% -4.09% No major changes
The intelligent manufacturing
projects and construction of the
Construction in relocation expansion project
107,037,409.95 0.86% 56,504,880.99 0.61% 0.25%
progress from subsidiary -Zhongke
Meiling and Mianyang
Refrigeration
The short-term loans increased
Short-term
288,343,724.73 2.31% 58,680,093.19 0.64% 1.67% from parent company in the
loans
Period
The long-term loans due within
Long-term
38,908,788.00 0.31% 243,004,866.40 2.63% -2.32% one year has transfer-out for
loans
re-classify
(II) Assets and liability measured by fair value
√ Applicable □Not applicable
In RMB
Items Amount Changes of fair Accumulativ Devaluati Amount of Amount of Amount in the end
HEFEI MEILING CO., LTD. Annual Report 2016
at the value e changes of on of purchase sale in the of period
beginnin gains/losses in fair value withdrawi in the period
g period this period reckoned into ng in the period
equity period
Financial assets
1. Financial assets
measured by fair value
and whose change is
recorded in current
0 12,060,213.30 12,060,213.30
gains and
losses(excluding
derivative financial
assets)
Subtotal of financial
0 12,060,213.30 12,060,213.30
assets
Total 0 12,060,213.30 12,060,213.30
Financial liabilities 0 559,249.58 559,249.58
Whether there have major changes on measurement attributes for main assets of the Company
in report period or not
□ Yes √No
(III) Assets right restricted ended as reporting period
Ended as the reporting period, the Company has no major assets been closed down, detain,
freeze or pledge and guarantee
V. Investment
(I) Overall situation
√ Applicable □Not applicable
Investment in the same period of last
Investment in the reporting (RMB) Changes
year ( RMB)
202,350,000 62,000,000 226.37%
(II) The major equity investment obtained in the reporting period
√ Applicable □Not applicable
HEFEI MEILING CO., LTD. Annual Report 2016
In RMB
Date of
Meth Capit Term Type Whet Index of
Status as of Expect disclosure
Name of od of Amount of Sharehol al of of Current investment her disclosure (if
Principal business Partners the balance ed (if
investee invest investment ding sourc invest produ profit and loss litigat
sheet date return applicable
ment es ment cts ion applicable
)
)
Hous
ehold
electr
R&D, production and sales of:
ical
household electric appliances,
appli
non-electrical household
ances
appliance, kitchen & bathroom Juchao Website:
of
furniture, audio-visual www.cninfo.com.
small
equipment, radio & television
Guangdong Self- home 2015-12-19 cn ( No.:
equipment, computers, Equit Wu Ownership Not
Changhong owne appli 、 2015-061,
communication and other y-pur Changy 20 Of equity applica
Ridian 95,650,000 98.856% d ances 17,066,865.91 N 2015-12-24 No.: 2015-062,
electronic devices and indoor chase uan, Hu years has
Technology capita , ble 、2016-1-5、No.: 2015-066,
hardware fitting; software and d Zhiheng transferred
Co., Ltd. l kitch 2016-2-4 No.: 2015-067,
IT services; business
en No.: 2016-001,
management advisory service;
and No.: 2016-008)
the 2nd and 3rd types of medical
toiler
equipment business; goods
produ
and technology import and
cts
export
and
water
purifi
HEFEI MEILING CO., LTD. Annual Report 2016
er
Development, production and
sales of computer hardware &
software, technology
development, production and
sales of internet of Things
equipment, development and
maintenance of E-commerce Manage
software, information service, ment Fresh Juchao Website:
Changmei Newl Invested Not
technical transfer and services Fund- team of onlin http://www.cninf
Technology y 20 RMB 18 applica 2016-1-8,
of the internet, domestic AD 46,320,000 92.64% raisin Changm e -6,857,143.67 N o.com.cn( No.:
Co., Ltd. establ years million in 2016-11-26
designing, production, g ei retail ble 2016-002, No.:
(note 1) ished the Period
agencies and release, sales of Technol ers 2016-068)
prepackaged food, dairy ogy
products, general merchandise,
alcohol, beverage and
agricultural products, crop
planting, self-support goods
and technology import and
export business.
Produced the follow products
and spareparts: air-conditioner,
Sichuan Hom
refrigeration and freezer, heat
Self- Changh e
Zhongshan pump, water heater, air cooler, Capit Not Juchao Website:
owne ong appli Invested
Changhong electric fan, humidifier, al 20 applica http://www.cninf
184,000,000 100% d Air-con ance RMB 64 12,507,061.40 N 2016-3-25
Electric Co., electric heater, clothes dryer, incre years o.com.cn( No.:
capita ditioner of air million ble
LTD (note 2) dehumidifier, air purifier, air ment 2016-027)
l Co., condi
wate machine, electric
Ltd. tioner
fireplace, kitchen appliance
and tools as well as
HEFEI MEILING CO., LTD. Annual Report 2016
refrigerating unit; import and
export business of the
self-produced products and
raw/auxiliary materials,
equitypment and technology;
software development and
consulting
Ever
Source Invested
Grou
Production and sales of the Science RMB 5.1
nd
Hongyuan ground heat & cold machine Self- & million in
Capit heat Not Juchao Website:
Ground Heat and whole machine system as owne Technol the Period,
al Long & applica 261,608.64 http://www.cninf
Pump well as the spare parts, sales of 25,500,000 51% d ogy and N 2015-4-18
incre -term cold o.com.cn( No.:
Technology home appliances, raw capita Develop cumulative ble
ment all-in 2015-016)
Co., Ltd. materials of home appliances l ment contributed
-one
and spare part Group RMB 10.2
PC
Co., million
Ltd.
Technology R&D of ground
Ever
energy heater, ground energy
Source
heating and cooling integrator
Science Invested
and ground energy heating
Hongyuan Self- & RMB19.6
pump environment systems, Capit Not Juchao Website:
Ground Energy owne Technol Not million in
system integration, selling and al Long applica http://www.cninf
Heater 24,500,000 49% d ogy appli the Period, -874,437.22 N 2015-4-18
post-selling service of single incre -term o.com.cn( No.:
Technology capita Develop cable and ble
unit equipment and whole set ment 2015-016)
Company l ment completed
systems; selling, installment,
Group investment
maintenance and after-sale
Co.,
service of home appliances
Ltd.
products
HEFEI MEILING CO., LTD. Annual Report 2016
Total -- -- 375,970,000 -- -- -- -- -- -- 22,103,955.06 -- -- --
Note 1: As the implementation subject of \"intelligent life\" project which is one of the Company‘s non-public offering funds investment
projects in 2016, Changmei Science and Technology Co., Ltd. (hereinafter referred to as \"Changmei Technology\") has registered capital of 50
million Yuan , of which the Company invests 45 million Yuan in cash in the original plan, accounting for 90% of the registered capital, and
the management team of Changmei Technology invests 5 million in cash, accounting for 10% of the registered capital. The Company and
Changmei Technology management team should respectively pay 40% of the amount of subscribed capital within 30 days from the date of the
establishment of the new company, and the remaining amount shall be paid within 3 years from the date of the establishment of the new
company.
Due to the job transfer of some non-core staff in Changmei Technology resulting in the corresponding subscribed capital unpaid, in order
to ensure the smooth implementation of the company's investment project, the resolution the 27th meeting of the company‘s 8th Board of
Directors passed and agreed the company to transfer the subscribed capital unpaid by some non-core staff in Changmei Technology by its own
funds, i.e. 2.64% stock rights of Changmei Technology (1.32 million Yuan in total). After this transfer of stock rights, the company‘s subscribed
capital becomes 46.32 million Yuan, accounting for 92.64% of the stock rights; the management team totally pays subscribed capital of 3.68
million Yuan, accounting for 7.36% of the stock rights.
Note 2: The resolution of the 19th meeting of the 8th Board of Directors of the company agreed the subsidiary - Zhongshan Changhong
and its partner - UAE RUBA GENERAL TRADING FZE Company (hereinafter referred to as \"UAE RUBA Company\") to jointly increase
capital in cash according to the existing shareholding ratio in the joint venture sales company - Changhong Ruba Trading Company(Private)
Limited which is invested and established in Pakistan by both sides at an earlier stage, the total capital increase was US$6.4 million, of which
Zhongshan Changhong invested US$3.84 million and UAE RUBA Company invested US$ 2.56 million; agreed the subsidiaries - Zhongshan
Changhong and Changhong Air Conditioning to respectively invest US$5.88 million and US$120,000 to establish \" CHANGHONG MEILING
ELECTRIC INDONESIA.PT\" in Indonesia. In order to meet the aforesaid investment matters, agreed the company and Changhong Air
Conditioning to increase capital of 64 million Yuan to Zhongshan Changhong according to the existing shareholding ratio, thereinto, the amount
of capital increase of the Company was 57.6 million Yuan and the amount of Changhong Air Conditioning was 6.4 million Yuan.
HEFEI MEILING CO., LTD. Annual Report 2016
(III) The major non-equity investment doing in the reporting period
□ Applicable √ Not applicable
(IV) Financial assets investment
1. Securities investment
□ Applicable √ Not applicable
The company had no securities investment in the reporting period.
HEFEI MEILING CO., LTD. Annual Report 2016
2. Derivative investment
√ Applicable □Not applicable
In 10 thousand Yuan
Amount of Ratio of
Investme
Relat Wheth Amount reserve for investment
nt Amount
ed er purchased in devaluatio Investment amount at Actual
Initial amount sales in the
Operator relati related Type Start date End date the n of amount at period-end in gains/losses
investment at reporting
onshi trade or reporting withdrawi period-end net assets of the in period
period-b period
p not period ng (if Company at
egin
applicable) period-end
Forward
Financial foreign
N/A No 56,813.32 2016-6-8 2017-12-6 0 105,152.67 67,380.74 0 37,890.69 7.33% -118.76
institution exchange
contract
Total 56,813.32 -- -- 0 105,152.67 67,380.74 0 37,890.69 7.33% -118.76
Capital resource(if applicable) Self-owned capital
Lawsuit involved (if applicable) Not applicable
Disclosure date for approval from the
Board for investment of derivatives (if 2016-3-19
applicable)
Disclosure date for approval from
board of shareholders for investment of 2016-4-7
derivatives (if applicable)
Risk analysis and controlling measures Risk analysis:
for derivatives holdings in the Period 1. Market risk: domestic and international economic situation changes may lead to exchange rate fluctuations, forward foreign exchange
(including but not limited to market transactions are under certain market risk. Forward foreign exchange business is aiming to reducing impact on corporate profits by foreign
risk, liquidity risk, credit risks, exchange settlement and sale prices, exchange rate fluctuations. The Company will follow up the exchange fluctuation, on the basis of target
HEFEI MEILING CO., LTD. Annual Report 2016
operation risk and law risks etc.) rate determined from the business, relying on the research of the foreign currency exchange rates, combined with prediction of consignments,
and burdening ability to price variations due to exchange rate fluctuations, then determine the plan of forward foreign exchange contracts, and
make 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 meet the
requirements of the trade authenticity. In addition, forward foreign exchange transactions are processed with bank credit, will not affect
liquidity of company funds.
3. Bank default risk: if cooperative banks collapse within the contract time, the Company will not be able to transact the original foreign
exchange contracts with contract price, which leads the risk of income uncertainty. So the Company chose Bank of China, Agricultural Bank
of China, Industrial and Commercial Bank of China, China Construction Bank and other Chinese Banks and part of the larger foreign Banks
(such as Deutsche Bank, UOB, Overseas Chinese Bank, HSBC, 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 also. The
Company has formulated related management system which defines the operation process and responsibility to prevent and control risks.
5. The legal risks: unclear terms based in contract signed with banks for related transactions may lead legal risks when 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 The Company determines fair value in accordance with the Chapter VII ―Determination of Fair Value‖ carried in the Accounting Standards for
changes in market price or fair value in Business Enterprises No.22 - Recognition and Measurement of Financial Instruments. Fair-value is basically obtained according to prices
the Period, as for analysis of the fair offered by bank and other pricing services. While fair-value of derivatives is mainly obtained according to the balance between prices given by
value of derivatives, disclosed specific outstanding contracts and forward prices given by contracts signed during the reporting period with bank. The differences are identified as
applied methods and correlation trading financial assets and liabilities. During the reporting period, forward foreign exchange contracts and losses of the Company is RMB
assumption and parameter setting -1.1876 Million.
Specific principle of the accounting
policy and calculation for derivatives in
Not applicable
the Period compared with last period in
aspect of major changes
Special opinion on derivative Upon inspection, the independent directors of the Company believes that: during the reporting period, the Company carried out its foreign
investment and risk control by exchange forward deals in strict compliance with the standardized operation guidelines for listed issuer on main board (2015 amended) issued
independent directors by Shenzhen Stock Exchange, the Articles of Association, Authorization Management of the Company, Management System in relating to
HEFEI MEILING CO., LTD. Annual Report 2016
Foreign Exchange Forward Deals of Hefei Meiling Co., Ltd., and these deals were conducted within the authorization scope under general
meeting and board meeting. The 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 on specific business operations with
purpose of avoiding the preventing the risks in exchange rate. The forward foreign exchange transactions of the Company are beneficial to
prevent the exchange risks exposed by import and export business and thus met its requirement for operation development. There was no
speculative operation, no break of relevant rules and regulations and relevant business was conducted under corresponding decision-making
procedures. Interests of the Company and entire shareholders, especially minority shareholders, were not prejudiced.
HEFEI MEILING CO., LTD. Annual Report 2016
(V) Application of raised proceeds
√ Applicable □Not applicable
1. Overall application of raised proceeds
√ Applicable □Not applicable
HEFEI MEILING CO., LTD. Annual Report 2016
In 10 thousand Yuan
Cumulative
Total raised Ratio of
raised Raised
Total capital has cumulative Usage of the retained
Total raised capitals has Total accumulative capitals idle
Total raised accumulative purpose of raised raised capitals and what
Year Way capital used purpose of raised capitals for more
capitals raised capitals uses capitals has is expected to invested
in Period uses unused than two
used changed in purpose of with those capitals
changed in years
Period uses changed
total
The un-used
fund-raising will
continue on the
investment on schedule.
According to the
fund-raising project,
and been deliberated
Non-publi
and approved by the
c offering
2016 154,073.272276 33,750.503059 33,750.503059 0 0 0% 120,788.994697 Board and shareholders
of
general meeting, the
A-shares
idle fund-raised are
purchased guaranteed
financial products with
RMB900 million in
total, rests of the funds
are save in the specific
account of raising funds
Total -- 154,073.272276 33,750.503059 33,750.503059 0 0 0% 120,788.994697 --
Explanation on General usage of raised capital
Being deliberated andapproved by 1st extraordinary shareholders meeting of 2016 and 17th session of 8th BOD, and verified by the Reply on Private Placement of Hefei Meiling
Co., Ltd. (CSRC XK [2016] No.1396) issued from CSRC, the Company successfully offering 280,858,676 shares (A-stock) to 7 qualified investors, including Sichuan
HEFEI MEILING CO., LTD. Annual Report 2016
Changhong Electric Co., Ltd. (hereinafter referred as to Sichuan Changhong), with price of 5.59 Yuan/Share and face value of 1.00 Yuan. According to the Verification Report
XYZH/2016CDA40272 issued by Shine Wing Certified Public Accountants (LLP), total raised fund amounting to 1,569,999,998.84 Yuan, less vary issuance changes (tax
included) 29,267,276.08 Yuan, raised fund amounts to 1,540,732,722.76 Yuan.
Totally 337,505,030.59 Yuan raised fund used in the Period, including replace the self-raised fund 63,984,738.91 Yuan, invested till end of 31 October 2016; the raised-fund
project has 2,640,227.91 Yuan (including bank handling charger and card issuing fee 230 Yuan) used from November to December in 2016; extra the ―supply current capital
project‖ used for current capital of the Company 270,880,063.77 Yuan (including 147,341.01 Yuan interest income). The specific raised-fund account has bank interest of
4,662,254.80 Yuan in reporting period.
Ended as 31 December 2016, the specific account for raised-fund of the private placement of 2016 amounting to 1,207,889,946.97 Yuan (including interest 4,514,913.79 Yuan).
Moreover, the Company purchase guaranteed financial products of 900 million Yuan in total with the idle raised-fund.
2. Situation of committed project of raised proceed
√ Applicable □Not applicable
In 10 thousand Yuan
Change the Achieve
Major
project Cumulative Investment Benefit d
Committed investment Date of reach a changes of
(Y/N) Total raised-fund Investment after Invested in the investment progress till end achieve expecte
projects and over-raised predetermined state project
(including commitment adjustment (1) period amount till end of of period-end (3) d in the d
fund investment of use feasibility
partially Period-end (2) ＝(2)/(1) Period benefits
(Y/N)
changed) (Y/N)
Committed investment project
Intelligent
manufacturing
(Hefei) project:
Construction of intelligent end of 2018,
No 39,100.00 39,100.00 2,657.326701 2,657.326701 6.80% -- -- No
manufacturing project construction
project of
freezer
intelligent : end
HEFEI MEILING CO., LTD. Annual Report 2016
of June 2018
Construction of intelligent
R&D capability and new
products development of No 55,900.00 55,900.00 2,205.149981 2,205.149981 3.94% End of 2018 -- -- No
the intelligent appliance
technology
Intelligent life project No 32,000.00 32,000.00 1,800.0200 1,800.0200 5.63% April 2010 -- -- No
Supplementary the floating
27,073.272276 27,073.272276 27,088.006377 27,088.006377 100.05% -- -- -- No
capital
Subtotal of committed
-- 154,073.272276 154,073.272276 33,750.503059 33,750.503059 -- -- -- -- --
investment project
Investment of the over-raised fund
No over-raised fund in the Period
Payment of bank loans (if
-- -- -- -- -- -- -- -- -- --
applicable)
Supplementary the floating
-- -- -- -- -- -- -- -- -- --
capital (if applicable)
Subtotal of over-raised fund
-- -- -- -- -- -- -- -- -- --
investment
Total -- 154,073.272276 154,073.272276 33,750.503059 33,750.503059 -- -- -- -- --
1. In the \"intelligent manufacturing construction project\": the planning construction period of \"intelligent manufacturing (Hefei)
project\" is 3 years, during the reporting period, the company has basically completed the pilot construction of phase I
refrigerator intelligent manufacturing benchmark line project, including intelligent line construction, manufacturing execution
Conditions and reasons of failure to meet schedule or
system MES import, intelligent logistics system project and other construction contents. The planning construction period of
predicted income (by specific projects)
―production line construction project for newly increased 600,000 sets of environmental protection and energy saving freezers
with large an medium volume‖ (Hereinafter referred to as \"freezer intelligent construction project\") is 1 year, during the
reporting period, because the No. 9 plant of company‘s freezer factory where the project construction site locates is used by the
HEFEI MEILING CO., LTD. Annual Report 2016
subsidiary - Zhongke Meiling Technology Co., Ltd. as its new plant is still under construction, the implementation of this
project is affected, and the project is still in the factory planning stage.
2. The planning construction period of \"intelligent R & D capacity building and intelligent home appliances technology
development project\" is 3 years, during the reporting period, the project is in the process of promoting in accordance with the
investment plan.
3. As the implementation subject of \"intelligent life project\", Changmei Science and Technology Co., Ltd. (hereinafter referred
to as \"Changmei Technology\") was established in April 2016. During the reporting period, the company has completed the
initial capital contribution of RMB 18 million Yuan , which now has Mianyang and Hefei two operating units. The company
has its own fresh e-business brand \"ifoodtube\" with more than 130,000 registered members, and the daily order volume peak
can reach more than 3,900; arranges offline intelligent terminal cold chain equipment in more than 80 communities, and builds
sorting and processing center, warehouse and other supporting facilities; continues to develop, improve, and upgrade the online
software for intelligent life service platform, strengthens platform promotion, market development, consumer experience, urban
and community operations. The reporting period is the first year of the project construction period, Changmei Technology has
achieved annual sales revenue (April 2016 - December 2016) of 9,476,000 Yuan , and after-tax profits (April 2016 - December
2016) of -7,417,900 Yuan .
4. As of the end of the period, the investment progress of \"supplementary liquidity Project\" has finished more than 100%,
mainly due to the raised funds in use including to interest on deposit of raised funds.
Presentation on the major changes in project feasibility
Not applicable
Use progress of the raised-fund and purpose
Not applicable
Changes of the site for raised-fund investment projects
Not applicable
Adjustment of the raised-fund investment projects
Not applicable
Ended as 31 October 2016, the Company contributed self-raised fund 63,984,738.91 Yuan for the raised-fund investment
Up-front cost and replace of the raised-fund investment project, the money has replaced as 63,984,738.91 Yuan. Shine Wing CPA (LLP) made a special audit for pre-investment and
projects
carried out an Assurance Report on Invested Self-raised fund to the Raised-fund Investment Before Hand
(XYZH/2016CD40285) (hereinafter referred as to Assurance Report). Replacement are as:
HEFEI MEILING CO., LTD. Annual Report 2016
In 10 thousand Yuan
Commitment Investment of
Raised-fund Total capital for self-raised fund Amount
investment project investment raised-fund invested till end of 31 replaced
project October 2016
Construction of
intelligent
39,870.65 39,100.00 2,545.41 2,545.41
manufacturing
project
Construction of
intelligent R&D
capability and new
products 55,900.00 55,900.00 2,053.06 2,053.06
development of the
intelligent appliance
technology
Intelligent life
32,076.00 32,000.00 1,800.00 1,800.00
project
Total 127,846.65 127,000.00 6,398.47 6,398.47
th th th th
The replacement has been deliberated and approved by the 27 session of 8 BOD and 14 session of 8 supervisory
committee, independent directors are proposed an agreeable independent opinion, and sponsor institution carried out a
verification opinion without objection.
Supplement working capital temporary with idle
raised-fund Not applicable
Balance and reasons of the implementation of raised-fund
Not applicable
The raised-fund have not been used will continues to invested on the raised-fund projects in above mentioned table. Meanwhile,
according to the raised-fund investment plan, and been approved by the Board and shareholder general meeting, agreeable
independent opinion from independent directors and with the verification opinion without objection issued by sponsor
Use of funds and fund allocation for un-used raised-fund
institution, the idle raised-fund can be use for buying guaranteed financial products, totally amounting to 900 million Yuan, rests
of the raised-fund will save in the specific account.
Use of the raised-fund has no changes till recently.
HEFEI MEILING CO., LTD. Annual Report 2016
As for the relevant information of raised-fund disclosed, there is no any disclosure information that released without timely,
Use of raised-fund and problems or other condition in
true-ness, accurate and complete. The savings, usage, management and disclosure of the raised-fund have no violation
disclosure
conditions been found.
HEFEI MEILING CO., LTD. Annual Report 2016
(3) The changed project of raised proceeds
□ Applicable √ Not applicable
No changes of raised proceeds in the Period
VI. Sales of major assets and equity
(I) Sales of major assets
□ Applicable √ Not applicable
The Company had no sales of major assets in the reporting period.
(II)Sales of major equity
□ Applicable √ Not applicable
HEFEI MEILING CO., LTD. Annual Report 2016
VII. Analysis of main holding company and stock-jointly companies
√ Applicable □Not applicable
(I) Particular about main subsidiaries and stock-jointly companies net profit over 10%
In RMB
Company name Type Main business Register capital Total assets Net Assets Operating revenue Operating profit Net profit
Research and development,
Zhongke Meiling Cryogenic
Subsidiary manufacturing and sales of 68,150,000 174,778,352.22 112,894,152.41 93,528,664.17 8,634,967.57 8,112,300.61
Technology Co., Ltd.
ultra-low temperature freezer
Manufacturing of refrigeration
Jiangxi Meiling Electric Co., Ltd. Subsidiary 50,000,000 186,982,468.76 86,611,646.81 393,776,861.26 -1,054,596.33 1,505,079.01
and freezer
Mianyang Meiling Refrigeration Co., Manufacturing of refrigeration
Subsidiary 100,000,000 162,633,829.27 97,997,656.33 289,026,321.88 864,180.56 1,002,038.81
Ltd. and freezer
Sichuan Changhong Air-conditioner R&D, manufacturing and
Subsidiary 200,000,000 2,068,601,856.95 540,705,432.76 3,181,611,510.60 18,334,469.32 30,757,332.18
Co., Ltd. domestic sales of air-conditioner
Zhongshan Changhong Electric Co., R&D, manufacturing and foreign
Subsidiary 184,000,000 844,520,689.49 249,371,640.31 1,545,246,107.38 8,615,350.80 10,891,273.04
LTD sales of air-conditioner
Hefei Meiling Electronic Appliance
Subsidiary Sales of white goods 55,000,000 391,002,172.29 -308,409,642.03 2,391,219,033.05 -18,447,785.54 -17,763,738.28
Marketing Co., Ltd.
Hefei Meiling Group Holdings Limited Subsidiary Sales of white goods 80,000,000 255,208,480.19 82,896,244.05 1,429,639,273.30 10,151,707.70 10,872,844.13
E-business of agricultural
Changmei Technology Co., Ltd. Subsidiary 50,000,000 17,039,986.45 12,054,094.36 9,475,992.16 -7,418,397.22 -7,417,905.64
products and fresh
R&D, manufacturing and sales of
Guangdong Changhong Ridian kitchen and toilet products, small
Subsidiary 83,000,000 260,498,884.93 109,117,867.30 495,075,275.53 18,093,904.63 17,264,471.30
Technology Co., Ltd. home appliances and water
purifier
HEFEI MEILING CO., LTD. Annual Report 2016
(II) Notes of holding and shareholding companies
√ Applicable □Not applicable
The method of
obtaining and
handling
Company Name The influence to the whole production and performance
subsidiaries
during the report
period
Improve the home appliance industry chain and product lines,
Obtained
Guangdong Changhong Ridian constructed the plantform of kitchen and toiler products as well
98.856% equity
Technology Co., Ltd. as small home appliances. Achieved net profit of RMB 17.2645
by public bidding
million in 2016
Meiling Package no longer in the consolidate scope of the
Company, the equity transfer show no changes in main
100% equity business of the Company, and constitute no material assets
Hefei Meiling Package Products Co.,
public transfer in reorganization regulated in Measures for the Administration of
Ltd.
listing Material Asset Reorganization of Listed Companies, the
Company realized pre-tax income of RMB10.52 million
approximately
Bengbu Meiling Appliance A little effect on the overall production and operation and
Clearing off
Marketing Co., Ltd. performance of the company
Luohe Meiling Appliance Marketing A little effect on the overall production and operation and
Clearing off
Co., Ltd. performance of the company
(III) Notes of holding and shareholding companies: Nil
VIII. Structured vehicle controlled by the Company
□ Applicable √ Not applicable
IX. Future Development Prospects
(I) Competition pattern and development trend
1. Competitive landscape: oligopoly seeks hegemony, reshuffle continues
The current all walks of life have entered a period of mega competition: first is overspeed, the
product development and new business models have very fast update speed; second is breaking
bounds, different industries penetrate and compete among each other; third is ultrahigh, the
demographic dividend and raw material dividends disappear, bulk raw material prices rise, and
costs raise; fourth is super change, subversive changes may occur at any time.
The home appliance industry has shifted from large-scale growth to aggressive growth. Home
appliances oligopoly competition will become the mainstream, the shuffle among the giants is
inevitable. The market competition pattern will be more intense, the shuffle will spread
bidirectionally from the home appliance retail channel and home appliance manufacturing system,
HEFEI MEILING CO., LTD. Annual Report 2016
and show the new situation of oligopoly and tycoon competition. At the same time, influenced by
the national supply side reform and industrial restructuring, the raw materials begin to sharply rise
in price, the logistics industry would raise costs because of \"governing ultra\", and transport costs of
home appliances significantly increase. At the same time, with the introduction of national inclusive
policy, home appliance industry will bid farewell to low price competition and gradually return to
the rational value competition.
2. Technical variables: artificial intelligence, market detonation
Internet of Things, artificial intelligence, and life technology are the several major directions
for the future development of human society. In the home appliance industry, technological
innovation has become the leading, as the drive capability of technological innovation becomes
more and more important in the home appliance industry competition, especially the guide of new
technologies and new concepts in the first-line terminal market will be favored by more and more
enterprises. In addition, as the popularity of intelligence has suffered homogeneous dilemma in the
market and the development of the Internet has stepped into the depth, artificial intelligence has
become a new engine to accelerate the landing of smart home appliances and will give
differentiation advantages to different enterprises in the terminal market, thereby becoming an
important engine to pull the middle and high-end market consumption, it is expected to usher in a
centralized detonation.
3. Product iteration: competitive and new products break through the bottleneck
Influenced by low price competition in the market, the function of many white products is not
substantially improved, but with the rise of middle and high-end consumer groups, especially the
full release of quality, high-end and fashion technology needs, the home appliances industry will
usher in a new round of consumer upgrades, the arrival of quality consumption era will promote the
industry to transform and upgrade to high end and intelligence.
Under the background of industrial restructuring and upgrading and products entering into the
upgrading, the home appliance market that takes competitive and new products as the principle
thing tends to have more distinct and clearer competition, but the competitiveness of many home
appliance products is facing a new round of bottleneck and homogenization challenge. So the
competitiveness of home appliance products in the next stage has to face a major breakthrough, and
carry through the system innovations in quality, function, appearance, technology and other aspects,
not only pursuing the product pragmatism but also giving the product a sense of science and
technology, which will be the direction for whole market product iterations.
4. Channel integration: online and offline, scene services
The Internet has entered the deep water area, the user growth rate has slowed down
significantly. Pure online price war and other strategies have begun to fail, and it is more and more
difficult to obtain incremental users. The integration of online and offline channels has become the
development direction of household appliance enterprises, its core is that the household appliance
enterprises must have the ability to service users. How to make full use of and integrate resources
and advantages from different online and offline channels, complete the integration of enterprise
marketing, product promotion and user needs, reinforce and strengthen its own ability to enhance
customer service capabilities, and thus really jump out of the channel dispute and return to the rapid
HEFEI MEILING CO., LTD. Annual Report 2016
landing of products and the strong activation of user demands becomes the must choice for
enterprises.
5. Internationalization: global mergers and acquisitions, capital driving
Internationalization is the need adapt to the times, the internationalization of white goods
industry will be particularly prominent, especially the global capital mergers and acquisitions can
not only quickly enhance the enterprises‘ brand influence and industry status in the global market,
but also promote the growth in overseas markets by the domestic and overseas resources integration
and market development. In addition, the global capital mergers and acquisitions has not only
become a new driving force for the enterprises‘ growth, but also can give attention and influence to
enterprises in the new competitive track.
(II) Development strategy
1. Vision
A leading brand in China, World Class and respectable household appliance enterprise
2. Strategic thought
In 2011, the board of directors of the company proposed the strategic guiding thoughts of
\"Meiling Dream\" and \"Double Three Strategy\", and upgraded the original \"Double Three Strategy\"
to \"Double Three One Core Strategy\", Double Three refers to three core strategies which are
product strategy, talent strategy, and cost leadership strategy and three significant strategies which
are market strategy, brand strategy, and internationalization strategy, One Core refers to
intelligentization.
In the next few years, the company will stand correctly, accurately and firmly in the draughts
of industry, market and reformation, continue to promote the six innovations so that the company
shall step forward to the direction of \"Meiling Dream\", and strive to create another Meiling by
2020.
3. Strategic thinking and targets
By \"two insists\", \"two adheres\" and \"two transformations\" (i.e. insist on product doctrine and
technology driven, insist on cultural development and institutional innovation; adhere to domestic
and overseas markets, adhere to talent and brand strategy; transform from single to diversification,
transform from B2C to 020 and C2B), the company has strived to create another Meiling in scale,
production line and organization flow by 2020. Details include: the first is to create another Meiling
in scale, i.e. to achieve the annual sales revenue of 20 billion Yuan, and double the net assets; the
second is to create another Meiling in production line, i.e. to enlarge the market share of main
products of refrigeration, freezer and air conditioner, the washing machine, kitchen and toilet
products and small home appliances comes to new main products of the Company, driven the profit
mode upgrading and transform by laying out new business of fresh E-business and bio-medical;
and thirdly, create another Meiling in organization procedures.
(III) Business plan
1. Business objective
HEFEI MEILING CO., LTD. Annual Report 2016
Under the circumstance of macroeconomic downturn, home appliance industry decline, fierce
brand competition and rising raw material prices, in 2017, the company will strive to make the
operating income increase by more than 5% over the previous year and net profits attributable to
parent company increase by more than 15% over the previous year under the leadership of the board
of directors.
2. Operating principles
The company‘s operating principles in 2017 are \"product leading, marketing force,
manufacturing breakthrough, mechanism protection.\"
Product leading: Product is the company's core competitiveness. Firstly, take the new level of
energy efficiency standards for the industry as an opportunity, give full play to the advantages of the
company's frequency conversion technology, accelerate the switching speed of new energy
efficiency and improve switching efficiency, and realize the sales volume of the new level energy
efficiency product to be higher than the industry level. Secondly, continue to strengthen the
advantages of intelligent and frequency products, enhance the sales of high-end products and brand
influence through intelligence, greatly expand the frequency products from the offline independent
channels to the online channels and overseas markets, and further strengthen the advantages of
differentiated frequency. Once again, increase the popularity of air-cooling products, enhance the
proportion of large and medium-sized air-cooling products in domestic and overseas markets while
explore the medium and small-sized air-cooling products, reduce the proportion of straight cold
refrigerator, and realize the structural upgrading. At the same time, the product lines of the
company‘s air conditioning, washing machine, kitchen and bath, and small appliances have to speed
up the structure upgrading.
Marketing force: Marketing is the source of the company's performance growth. Further
deepen the value chain management, and promote the construction of marketing information system.
The domestic market continues to focus on the eight words marketing culture concept that is
\"integrity, service, profession, passion\", change the concept, strengthen the sense of service, and
become \"the most active brand in terminal, and the most industrious marketing people in the
market\". At the same time, the domestic market needs to fill the short board of regional market: on
the one hand, strengthen the construction of weak links in the online channels, and enhance the
proportion through deep cooperation, on the other hand, the company's dominant markets are
focused on the offline channels, concentrate on breaking through the company‘s weak regional
markets.
Further enhance the product mix and the proportion of large customers in overseas markets,
strengthen the construction of qualified personnel, and strengthen the company's own brand
promotion and overseas plant capacity building.
Manufacturing breakthrough: Manufacturing is the guarantee of the company's product
quality and technology. Wholly pull the breakthrough for manufacturing production line efficiency
by promoting intelligent manufacturing, large refrigerator efficiency enhancement project, Jiangxi
Meiling high-speed production line project, high-end refrigerator fine engineering, and labor lifting
project. Intelligent manufacturing is one of the direction of transformation and upgrading in
manufacturing industry. Take the non-public offering investment project ―intelligent manufacturing‖
HEFEI MEILING CO., LTD. Annual Report 2016
as the core, promote the transformation of \"Meiling manufacturing\" to \"Meiling intelligent
manufacturing\", realize the further breakthrough of high-end technology level, improve the
manufacturing flexibility, so as to meet the individual needs of different users. Finally realize the
double improvement for domestic and export fulfillment rate, and significantly reduce the
comprehensive manufacturing costs.
Mechanism protection: Mechanism is the basis for the company's positive operation. An
enterprise‘s fundamental is the talents, and the talents‘ fundamental is the mechanism. In order to
realize the company‘s \"Meiling Dream\", the competitive guarantee mechanism is the key. In 2017,
the company will establish and improve the incentive mechanism, talent mechanism, innovation
mechanism, responsibility mechanism, and benchmarking mechanism so as to provide powerful
guarantee mechanism for the company's development in 2017.
3. Market strategy
(1) Refrigerator (freezer)
Continue to adhere to the intelligence and frequency two core product strategy, speed up the
development and upgrading of a new generation of intelligent product , implement the company's
intelligent strategy, and enhance the proportion of inverter products. Vigorously invest in basic
technology research and product upgrading, continue to carry out intelligence, frequency, cryogenic,
frost-free and other technical researches, maintain technology-leading in the industry, increase the
development efforts to air-cooling, multiple temperature zone, large volume, frequency, and
intelligent products, promote the company's product structure to upgrade to high end and
intelligence, and drive the company's industrial transformation and upgrading; at the same time,
improve manufacturing efficiency and product quality, reduce product costs and enhance product
competitiveness by fully implementing intelligent upgrading and rebuilding to the production lines.
The domestic market takes frequency leading, intelligent pilot, multi-door becoming stronger,
back to back getting bigger, air-cooling jump start as the thinking, makes reasonable planning,
promote the products‘ combination ability, and enhance the domestic sales capacity by adjusting the
product structure. Regarding the channel, enhance the offline terminal sales ability through the price
management, promotion management, user experience management and other means, at the same
time, enhance the online sales ability by creating e-commerce hot products, enhancing after-sales
service experience, and collaborative operations among all product lines and other means.
Overseas markets should adhere to the brand structure of \"own brands + OEM / ODM\", the
mainstream homogeneous product costs take the lead in strategy, and differentiate the products with
insufficient competitiveness. At the same time, focus on enhancing the service capabilities to big
customers, improving the overseas delivery rate, shortening the lead time, and improving the
product quality, especially improving the ability to respond quickly to solve problems in the face of
customer needs.
(2)Air conditioning
Based on the company's intelligent development strategy, the company‘s air-conditioning
business will seize class A frequency, energy saving, intelligence, health and other industrial bright
spots, focus on the company‘s \"Intelligent Home Eco-circle\" plan, develop intelligent terminals,
HEFEI MEILING CO., LTD. Annual Report 2016
provide healthy and intelligent air solutions, gradually build the triune business development model
of intelligent equipment + application scenarios + social sharing, lay out from the sensor, control
and equipment, achieve monomer becoming stronger, system integration, and benign development,
and become China's first-class air-conditioning enterprise. At the same time, vigorously expand
overseas markets, carry out quality, market, product research and development, cost control and
other capacity building, and ensure to enter into and stabilize the second group status in air
conditioning industry in the next three to five years through regional and customer structure
adjustment. In addition, the air conditioning industry will seize the opportunities of coal to
electricity and home appliances energy-saving leader policy, improve product layout, and promote
enterprise transformation.
(3) Washing machine
On the one hand, speed up the channel layout, rely on Meiling refrigerator (freezer) channels,
assault wholesale channels, enter and upgrade G60 branches, and comprehensively cover the chain
channels. Enhance research and development capabilities, grasp the technical direction of the
industry, develop Meiling washing machine core technology, upgrade product lineup, and improve
product competitiveness. Integrate supply chain resources, strengthen product quality, and improve
consumer satisfaction and brand reputation of Meiling washing machine. Create a professional team,
improve services, achieve rapid sales promotion, and improve sales structure. Enter into the second
camp of the industry during ―the 13th Five Year‖ and become one of the company‘s pillar industry
by mergers and acquisitions or self-built production bases.
On the other hand, the company has signed the Strategic Cooperation Framework Agreement
(hereinafter referred to as the \"Cooperation Agreement\") with an internationally known professional
manufacturer of electrical appliances - Candy Hoover Group S.r.l. (hereinafter referred to as \"Candy
Group\") in March 2017. Both sides will carry out comprehensive and in-depth strategic cooperation
in the refrigerator (freezer), washing machines and other business areas. Regrading the washing
machine, the company and Candy Group will jointly set up a joint venture company working on the
research and development, and sales business of washing machine products, sothat the company can
further strengthen the independent research and development capabilities, enhance the competitive
advantages of product lines, expand the company's product marketing share, enhance the company's
core competitiveness and brand influence, and enhance the company's profitability and
comprehensive competitiveness in virtue of the respective R & D and business advantages of both
sides.
(4) Small appliances
Based on kitchen and bath, strengthen electric heating, develop water purification business,
and build core business. Increase investments in kitchen and bath and water purification business,
enhance manufacturing, research and development and market capabilities; rely on intelligent
strategy to strengthen the development of intelligent products, and strive to achieve the industry
leader in intelligent products; continue to promote research and development, manufacturing,
Marketing,quality, and operation capacity building to enhance the industry status.
(5) Bio-medical care
The company takes Zhongke Meiling, its subsidiary listed on new three board, as the platform
HEFEI MEILING CO., LTD. Annual Report 2016
for the comprehensive development of bio-medical industry. Based on the related diversification in
the bio-medical field, takes the single-compression mixed refrigerant as the core refrigeration
technology, and takes the stock business like deep-freezing storage facilities as the basis so as to
rapidly promote the product upgrading and iteration and realize the diversification of product
category and transaction mode; focuses on life science and cold chain storage core businesses,
combines with its own technological advantages, takes products as the carrier and market-oriented
principle and user-centered management idea to steadily and rapidly expand the deep-freezing
storage facilities, medical freezing products, internet cold chain terminals, liquid nitrogen storage
equipment and other related industrial chains, and quickly makes bigger and stronger in biomedical
field; comprehensively starts using \"Meiling biomedical\" brand, increases marketing efforts, builds
a sound marketing channel system, and continue to promote the perfect combination of marketing
channels and end products.
(6) Intelligent life new business model
Actively promote the investment project \"intelligent life project\", and build Meiling intelligent
life O2O community fresh business platform. Focus on the layout of the community cold storage
self pick-up cabinet, give play to the company‘s advantages in the intelligent and refrigeration fields,
and strive to develop the the fresh e-business O2O business platform with a certain influence in the
industry in three to five years. Focus on regionalization and localization, gradually integrate the
regional and national brand enterprises entering business, and ultimately create Meiling intelligent
life project to be a national intelligent life O2O service platform. Transform to the \"equipment +
service\" model by means of food management, provide exploration for the intelligent
transformation of refrigerator, help the company to move towards high-frequency service sales from
low-frequency hardware sales, form the \"hardware + service\" double growth engine, and drive the
transformation and upgrading of the company‘s profit model.
The above business plan and business objectives do not represent the listed company‘s profit
forecast of 2017, whether it can be achieved depends on the changes in market condition, the efforts
of management team and other factors, there are a lot of uncertainties, investors should pay special
attention to it.
(IV) Possible risks and countermeasures
In 2017, the domestic and foreign macroeconomic situation is still not optimistic, the
competition in home appliance market will be more intense, enterprises‘ living environment will be
even worse. In the future, the company will face weak macroeconomic growth, grim industry
situation, intensified competition, labor tension, sharp rise in raw material prices, transportation
costs and human resources costs, impact of the new business model and Internet age and other risks.
1. Risk of macroeconomic fluctuations
The products the company produces and sells belong to consumer electrical products, of which
the market demands are greatly impacted by macroeconomic and consumer consumption level.
Macroeconomic fluctuations may have a certain impact on consumers‘ income expectations,
purchasing power and purchasing intention. In addition, the uncertainty of the development of real
estate impacts the consumers‘ demands for purchasing electrical appliances to a certain extent. If
the future economic growth continues to slow down or decline, the demands and gross margin of
HEFEI MEILING CO., LTD. Annual Report 2016
household appliances industry may reduce, and thus make negative effects on the company's
profitability.
2. Impact of intensifying industry competition and declining broader market
China's home appliance industry is a complete competing industry, there are many domestic
and foreign-funded household appliances manufacturers providing products with a higher degree of
homogenization and fierce competition. With the withdrawal of national preferential policy, the
industry broader market continues to decline, the industry enters into aggressive growth from
large-scale growth, the industry brand concentration further strengthens, the competition among the
brands shows a new situation of oligarchy and giant competition. In recent years, the industry
transformation and upgrading significantly speeds up, if a company cannot accurately judge and
keep up with the industry's market dynamics, it will be eliminated. Increasing competition in the
industry may cause irrational competition in the market and bring operational risks to the
enterprises.
3. Impact of cross-border Internet industry and challenges of new business model
With the arrival of Internet era and artificial intelligence era, the Internet enterprises continue
to cross boarder and swarm into intelligent home fields, which intensifies competition in the
industry, subversive changes may occur at any time, and traditional household appliance enterprises
are facing serious challenges. At the same time, under the impact of Internet economy and new
business model, the home appliance manufacturers are actively promoting the transformation, new
business model and new products emerge one after another in the home appliance industry, the
development of intelligent home appliances changes quickly, if unable to make rapid response or
catch up with the development trend, it may be easily replaced or even completely subverted. New
rules of the game bring strong sense of crisis and sense of urgency to the enterprises.
4. Pressure of raw material price rising and transportation costs rising
In 2016, affected by the growing real estate, the reform of supply side, the pressure of
environmental protection, some poor management and withdrawal of capacity, the price of bulk
materials has a unilateral rise; at the same time, the transportation costs greatly rise due to logistics
industry‘s governance to ―three excesses‖. It is expected that the raw material price and logistics
transportation costs will continue to rise sharply or run at high prices in 2017, but the end product
selling price will be unchanged or will be difficult to digest the impact of rising raw materials prices,
logistics costs and other key resource costs, which will bring greater operating pressure to the
company and further affect the company's profitability.
5. Human resources risk
Household appliance industry is an industry with relatively intensive capital, technology, and
labor. With the gradual expansion of the company's business scope and scale, and the arrival of
intelligent home appliances and the impact of Internet, the company will greatly increase the
demands for high-level management personnel, technical personnel, and innovative talents, talent
introduction becomes one of the key points for human resources management, if it cannot
effectively enhance the company's attraction to high-quality talents from various aspects, the
company's future development will be subject to constraints. At the same time, in its intelligent
HEFEI MEILING CO., LTD. Annual Report 2016
manufacturing transformation period, the company needs higher requirements to the technical
capacity and professional quality of workers at the production line, the improvement for the
company's product quality will be influenced if the comprehensive quality of workers at the
production line can not be enhanced. In addition, with the increase in orders, the demand for
workers at the production line is increasing, but affected by the supply and demand in labor market
and the continuous rising labor costs, the company's cost pressure will be further enlarged.
Faced with the above risks, the company on the one hand will raise awareness of risk
prevention, and make overall arrangements in the product, technology, and market in advance.
Focus on the smooth implementation of the company's intelligent manufacturing, intelligent
research and development, and intelligent life projects, strengthen the innovation and drive of the
company's intelligent technology, accelerate the implementation of the company's intelligent
strategy, promote the company's transformation and upgrading from front-end manufacturing,
back-end products to intelligence, promote the company‘s transformation and upgrading, meet the
new pattern of competition in the industry, and enhance the company's core competitiveness. At the
same time, through the active exploration of new business model, ultimately realize the crossings
from \"Meiling manufacturing\" to \"Meiling intelligent manufacturing\", from hardware provider to
service provider, from one-time transaction to continuous transaction, from a single product
provider to the system provider, drive the transformation and upgrading of the company's profit
model. The company will always put the basic technology research in the most important and most
central position, enhance the core competitiveness of products by increasing the research on basic
technology; aiming at the unique needs of different users, seize the consumer demands, accurately
grasp the product development direction, and strengthen the application technology research on the
products‘ functional aspects; meanwhile, combine with its own products, and actively explore the
research on cutting-edge technology. At present, the company is transforming to diversification by
enriching the product lines, further strengthens the synergy among various product lines, and
creates a comprehensive household appliance enterprise with strong competitiveness; at the same
time, focuses on the \"intelligent home eco-circle\" plan, actively explores the new paths for the
transformation and upgrading of home appliance enterprises under the in-depth development of
Internet technology, takes its own hardware products as the terminal, focuses on food, air, water and
other needs to explore the new business model, seizes the consumers‘ needs, and provides users
with a set of intelligent white goods system solutions.
On the other hand, the company will implement the business policy of \"product leading,
marketing force, manufacturing breakthrough, mechanism protection\" under the leadership of the
board of directors and under the guidance of \"Meiling Dream\": take globalization as a platform, and
intelligent and frequency transformation as a breakthrough, adhere to the intelligent and variable
frequency product strategy unswervingly, promote technological innovation, strengthen the research
and development to intelligence, frequency, air-cooling, and cryogenic technologies, create
intelligent, high-end products and personalized products, and enhance the company's product
competitiveness from quality, high end and fashion technology by improving the manufacturing
efficiency and technological level. Enhance the domestic offline terminal sales capacity, break the
weak regional market, pay attention to the development of online channels, speed up the integration
between online and offline channels; build a marketing management system centering on retail
through digitization, a value management system centering on retail price, and an operation and
HEFEI MEILING CO., LTD. Annual Report 2016
distribution system taking customer inventory as the core, and promote the marketing
transformation of digitization. Attach importance to the development of overseas markets, take the
initiative to explore the construction of own brands in overseas markets, and accelerate the pace of
overseas mergers and acquisitions. Give full play to the motivation of intra-organization
institutional changes and management mechanism innovation, activate the team independent
innovation, and provide security mechanism for the company's sustained and healthy development.
X. Reception of research, communication and interview
(I) In the report period, reception of research, communication and interview
√ Applicable □Not applicable
Time Way Type Basic situation index of investigation
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Reception (times)
Number of hospitality
Number of individual reception
Number of other reception N/A
Disclosed, released or let out major
No
undisclosed information
HEFEI MEILING CO., LTD. Annual Report 2016
Section V. Iimportant Events
I. Profit distribution plan of common stock and capitalizing of common reserves plan
Formulation, Implementation and Adjustment of common stock Profit Distribution Policy
Especially Cash Dividend policy during the Reporting Period
√Applicable □ Not applicable
During the reporting period, the company has strictly executed the profit distribution policy in
accordance with the revised \" Articles of Association\", the formulation and implementation of the
company's cash dividend policy are in line with the provisions of \"Articles of Association\" and the
requirements of the resolutions of shareholders' meeting, the dividends standards and proportion
have been definite and clear, relevant decision-making procedures and mechanisms have been
complete, the responsibilities of independent directors have been clear and have played its due role,
minority shareholders have had the opportunities to fully express their views and aspirations, and
the legitimate interests of minority shareholders have been maintained.
In the reporting period, the Company implemented Profit distribution plan for year of 2015,
that is, distribute 0.6 Yuan (tax included) in cash for every 10 shares held by all shareholders of the
Company based on total share capital 763,739,205 shares dated 31 December 2015 (including
600,875,205 shares of A-share and 162,864,000 shares of B-share), cash dividend of 45,824,352.27
Yuan was distributed in total.
Special explanation on cash dividend policy
Satisfy regulations of General Meeting or requirement of Article of
Y
Association (Y/N):
Well-defined and clearly dividend standards and proportion (Y/N): Y
Completed relevant decision-making process and mechanism (Y/N): Y
Independent directors perform duties completely and play a proper
Y
role (Y/N):
Minority shareholders have opportunity to express opinions and
Y
demands totally and their legal rights are fully protected (Y/N):
Condition and procedures are compliance and transparent while the
Y
cash bonus policy adjusted or changed (Y/N):
(II) Profit distribution plan (pre-plan) of common stock and capitalizing of common reserves
plan (pre-plan) in latest three years (including the reporting period)
1. Profit distribution plan for year of 2014
Distribute 0.6 Yuan (tax included) in cash for every 10 shares held by all shareholders of the
Company based on total share capital 763,739,205 shares dated 31 December 2014, cash dividend
of 45,824,352.30 Yuan was distributed in total.
HEFEI MEILING CO., LTD. Annual Report 2016
2. Profit distribution plan for year of 2015
Distribute 0.6 Yuan (tax included) in cash for every 10 shares held by all shareholders of the
Company based on total share capital 763,739,205 shares dated 31 December 2015, cash dividend
of 45,824,352.27Yuan was distributed in total.
3. Profit distribution plan for year of 2016
Distribute 0.6 Yuan (tax included) in cash for every 10 shares held by all shareholders of the
Company based on total share capital 1,044,597,881 shares dated 31 December 2016, cash dividend
of RMB 62,675,872.86 Yuan was distributed in total.
The pre-plan had been deliberated and approved by the board of directors, and it need to be
submitted the annual shareholders’ general meeting of 2016 for its consideration.
(III) Cash dividend of common stock in latest three years (including the reporting period)
In RMB
Net profit Ratio in net profit
attributable to attributable to
common stock common stock
Amount for cash Amount for cash Proportion for
Year for bonus shareholders of shareholders of
bonus (tax bonus by other cash bonus by
shares listed company in listed company
included) ways other ways
consolidation contained in
statement for consolidation
bonus year statement
2016 62,675,872.86 220,216,680.96 28.46% — —
2015 45,824,352.27 27,104,893.56 169.06% — —
2014 45,824,352.30 289,842,658.03 15.81% — —
(IV)The Company gains profits in reporting period and the retained profit of common stock
shareholders provided by parent company is positive but no plan of cash dividend proposed of
common stock
□ Applicable √ Not applicable
II. Profit distribution plan and capitalizing of common reserves plan for the Period
√Applicable □ Not applicable
Bonus shares for every 10-share (Share)
Dividends for every 10-share (RMB) (Tax
0.6
included)
Shares added for every 10-share base
(Share)
Equity base of distribution plan (Share) 1,044,597,881
Total cash dividend(RMB) (Tax included) 62,675,872.86
Distributable profits (RMB) 956,339,194.01
HEFEI MEILING CO., LTD. Annual Report 2016
Ratio of cash dividend in total profit
100%
distribution
Cash dividend:
Distribute 0.6 Yuan (tax included) in cash for every 10 shares held by all shareholders of the Company based on
total share capital 1,044,597,881 shares dated 31 December 2016, cash dividend of RMB 62,675,872.86 Yuan
was distributed in total.
Detail explanation on profit distribution or capitalization from capital public reserve
Being audited by Shine Wing Certified Public Accountants (LLP), the net profit achieved in individual statement
of the parent company amounting to RMB 239,624,261.53 Yuan, in line with relevant regulations, after extract
for statutory surplus reserve RMB 23,962,426.15 Yuan, the distributable profit in individual statement of the
parent company for year of 2016 amounting to RMB 215,661,835.38 Yuan; deducted the 2015 profit
distribution RMB 45,824,352.27 Yuan, plus the retained profit at beginning of the year RMB 786,501,710.90
Yuan, the accumulated retained profit in individual statement of the parent company at end of 2016 amounting to
RMB 956,339,194.01 Yuan. In addition, the accumulated retained profit in consolidate statement at end of the
2016 amounting to RMB 968,097,382.98 Yuan;the distributable profit in consolidate statement for year of
2016 amounting to RMB 196,254,254.81 Yuan.
According to the relevant laws and regulations and the provisions of \"Articles of Association\" and considering
the interests of the shareholders and the company's long-term development needs, the board of directors
approved the company to distribute the cash bonus of 0.6 Yuan per 10 stocks (including tax) to all shareholders
on the basis of the general capital of 1,044,597,881 stocks of December 31, 2016, totally the cash bonus RMB
62,675,872.86 Yuan has been distributed (Including tax, the cash bonus accounts for 29.06% of the profit
available for distribution in the individual statements of the parent company in the current year). After the
distribution, the total share capital of the company keeps the same, accumulates the remaining undistributed
profits of RMB 893,663,321.15 Yuan which is to be distributed annually after carry-over
This plan has been considered and passed by the board of directors, and needs to be submitted to 2016 annual
general meeting of the company for deliberation.
III. Implementation of commitment
(I) Commitments that the company, shareholders, actual controller, offeror, directors,
supervisors, senior management or other related parties have fulfilled during the reporting
period and have not yet fulfilled by the end of reporting period
√Applicable □ Not applicable
HEFEI MEILING CO., LTD. Annual Report 2016
Implemen
Commitment Acceptor Content Date Term
tation
1. The acquirer shall not engage in refrigerator business
or activity which competes or will compete with
Strictly
business of Meiling Electrical Appliances Co., Ltd. Valid for long
implemen
(hereinafter referred to as the ―Meiling Electrical term
ted
Appliances‖),or that which has interest conflict with
Meiling Electrical Appliances.
2. The acquirer promises to apply shareholders‘ right on
Sichuan About committed and Strictly
a legal and reasonable manner and shall not take any Valid for long
Commitments Changhong promised in order to implemen
action to limit or affect the normal operation of Meiling term
made in Electric Co., prevent horizontal ted
Electrical Appliances.
acquisition Ltd. competition in the
2007-6-12
report or (hereinafter Acquisition Report of 3. For any opportunity to engage in competing business,
equity change referred to as Hefei Meiling Co., the acquirer will advise Meiling Electrical Appliances in
report the ―Sichuan Ltd. written for engaging such business or not. If Meiling
Changhong‖) Electrical Appliances gives no clear written reply as to
whether engaging the competing business or not within Strictly
Valid for long
20 days after receipt of the aforesaid letter, it shall be implemen
term
deemed that it will not engage in such business. The ted
acquirer will only engage in non-competing business
provided that Meiling Electrical Appliances confirms
not to or is deemed to not engage in such
non-competing business.
Commitment Commitment 1. It will not engage in such business or activity that
Strictly
made during Sichuan regarding to reducing competes with or has interest conflict with that of Valid for long
2010-6-24 implemen
the Changhong and preventing Meiling Electrical Appliances except for the action term
ted
non-public competition with taken for sake of Meiling Electrical Appliances as
HEFEI MEILING CO., LTD. Annual Report 2016
offer of 2010 Meiling Electrical required by Meiling Electrical Appliances.
Appliances 2. The Company promises to apply shareholders‘ right
on a legal and reasonable manner and shall not take any
action to limit or affect the normal operation of Meiling
Electrical Appliances.
3. In case that Meiling Electrical Appliances expects, on
the basis of its existing business, to expand its operation
scope into the business which the Company has already
operated, the Company agrees to grant pre emptive right
to Meiling Electrical Appliances regarding such
business if the same conditions are met, provided that
the Company is still the controlling shareholder or
actual controller of Meiling Electrical Appliances.
1. Measures will be adopted to prevent continued related
transaction with Meiling Electrical Appliances: as to the
related transaction that can not be prevented, it will sign
related transaction agreement with Meiling Electrical
Appliances under the market principles of ―equally paid
Commitment and mutual benefit‖, and fairly determined the
regarding to reducing transaction price according to the market prevailing
Strictly
and standardizing standards. Valid for long
2010-6-24 implemen
related transaction term
2. Perform the necessary obligations to make related ted
with Meiling
directors and related shareholder abstain from voting
Electrical Appliances
according to relevant regulation, and observe legal
procedure for approving related transaction and
information disclosure obligations.
3. Promise not to hurt legal interests of Meiling
Electrical Appliances and other shareholders through
HEFEI MEILING CO., LTD. Annual Report 2016
related transaction.
Commit to authorized Changhong Air Conditioning and Zhongshan Air Strictly
Valid for long
Conditioning Co., Ltd. (hereinafter referred to as the ―Zhongshan Air 2010-11-6 implemen
term
Conditioning‖) to use ―Changhong‖ trademark and relevant patents for free. ted
1. Commit to disclose periodic reports on a truthful, accurate, complete, fair and
prompt manner, to disclose all the information that have important influences
over investors, to accept supervision under the CSRC and Shenzhen Stock
Exchange.
2. Commit to make public clarification in respect of such information that is
released from any public media and may result in misleading influences on
Strictly
stock price once the Company is aware of such information. Valid for long
The Company 2011-1-7 implemen
3. The directors, supervisors, senior management and core technicians of the term
ted
Company will accept opinions and criticism from the social publics, and they
will not trade the Company‘s securities, directly or indirectly, with any inside
information and other illegal methods. The Company promises that the
documents submitted to Shenzhen Stock Exchange exist no false statement or
material omission, and no relevant information will be disclosed during the
application for listing without prior content from Shenzhen Stock Exchange.
Commitment 1. Since the property transfer didn‘t involve the buildings and land currently
Strictly
made in used by Changhong Air Conditioning, Sichuan Changhong commits, upon the Valid for long
implemen
transfer of completion of equity transfer, to continue to lease such assets to Changhong Air term
Sichuan ted
air Conditioning at market price. 2009-12-10
Changhong
conditioning 2. After completion of this property transfer, Sichuan Changhong commits to
Valid for long Strictly
assets manage to prevent new related transaction with Meiling Electrical Appliances.
term implemen
property For those which can not be prevented, Sichuan Changhong commits to
HEFEI MEILING CO., LTD. Annual Report 2016
determine the transaction price based on market accepted methods, so as to ted
ensure fairness of related transaction and protection of the interest of Meiling
Electrical Appliances.
3. Sichuan Changhong commits that it will not engage in air conditioning and
refrigerator business or activity which competes or will compete with business
of Meiling Electrical Appliances, or that which has interest conflict with
Meiling Electrical Appliances.
1. Make promise not to reduce the shares of Meiling bought in every year
Commitments
during implementation of the performance incentive fund via any market ways 2013-8-15; Three years after
by Annual Implemen
in the later first year, which was allowed to be reduced by 50% according to the 2014-7-3; current shares
performance ting
laws and regulations in the second year, and the remaining 50% was allowed to 2015-7-21 purchased
incentive Some of the
be reduced in the third year in accordance with the laws and regulations.
fund, Directors,
From the date
incentive supervisors and 2. The directors, supervisors and senior management promised to manage in
when annual
objects while senior accordance with the relevant management approaches in accordance with the
incentive fund
purchasing executives of \"Company Law\", \"Securities Law\" and \"The Company‘s shares held by the
plan deliberated
stock of the the Company as directors, supervisors and senior management of the listed company and its 2013-8-15;
and approved by
Company well as other change management rules\", as objects of annual performance incentive fund of 2014-7-3; Implemen
general meeting
with incentive Meiling, including but not limited to: during his tenure, the shares transferred 2015-7-21 ting
to 6 moths after
performance objects each year shall not exceed 25% of the total number of shares held of the
director,
incentive Company; shall not sell the shares of the Company within six months after
supervisor and
funds and bought it or purchase again six months after sold it; shall not transfer the shares
senior executives
owned fund held within six months after Dismission.
resigned
Sichuan 1. Based on market conditions and as allowed by laws and rules, multiple
Commitments
Changhong measures were adopted adequately to increase shareholding of Meiling Strictly
of not to Valid for long
Electric Co., Appliances, so as to demonstrate its firm confidence on the PRC economy and 2015-7-9 implemen
reducing the term
LTD and Meiling Appliances with its actual actions, maintain sound development of ted
shares
persons acting capital market and promote recovery of healthy market;
HEFEI MEILING CO., LTD. Annual Report 2016
in concert 2. The Company continued to support operation and development of listed
Changhong company. It is committed to bringing steady and real return to investors.
(Hong Kong)
3. Sichuan Changhong has committed that Sichuan Changhong and its persons
Trading
acting in concert - Changhong (Hong Kong) Trading Co., Ltd. shall not reduce
Company
holdings of \"Meiling\" and \"Anhui Meiling B\" within six months since January
Limited Implemen
18, 2016, if the holdings of \"Meiling\" and \"Anhui Meiling B\" increase due to 2016-1-18 2016-7-18
ted
Meiling bonus issue or share capital increased by transferring, the company will
still abide by the above commitment. To violate the above commitment, all
gains by reducing holdings will belong to Meiling.
14 October 2016
Sichuan Shares are not transfer within thirty-six (36) months since end of the private Implemen
2016-3-6 to 14 October
Changhong placement ting
1. I hereby undertake not to deliver interests to other
entities or individuals without consideration or at unfair
Commitment conditions, nor to prejudice the Company‘s interests by
made during other means. Till the
the Commitment on completion of
2. I hereby undertake to restrain my role related
non-public Directors and compensation of projects invested
consumption behaviors.
offer in 2016 senior immediate dilution of with the proceeds Implemen
3. I hereby undertake not to conduct any investment and 2016-2-23
executives of return arising from from this ting
consumption which is not related to performance of
the Company non-public issuance of non-public
duties with utilization of any company assets.
shares issuance of
4. I hereby undertake that the remuneration system shares
determined by the board of directors or the remuneration
and examination committee be linked to implementation
of the compensation of return measures.
HEFEI MEILING CO., LTD. Annual Report 2016
5. In case that the Company adopts share based
incentive plan in future, I hereby undertake that the
exercise conditions of the incentive plan to be
announced by the Company be linked to implementation
of the compensation of return measures.
6. For the period from the date of this commitment to
the date of completion of this non-public issuance of
shares, if the CSRC makes other new regulatory
requirements on compensation of return measures and
the commitment thereof, and in case that the above
commitments cannot satisfy these new requirements
from the CSRC, I hereby undertake to issue
supplementary commitment in compliance with the
latest CSRC requirements.
As one of the principals responsible for compensation of
return measures, I, in case of break of the above
commitments or refuse to perform the above
commitments, agree to receive relevant punishment or
to adopt relevant administration measures according to
the systems, rules and regulations of the CSRC and
Shenzhen Stock Exchange.
1. Promise to truly, accurately, completely, fairly and timely publish
periodic reports, disclose all information that has significant impacts
on the investors, and accept the supervision and management of Strictly
Valid for long
The Company China Securities Regulatory Commission and the Shenzhen Stock 2016-10-12 implemen
term
Exchange. ted
2. Make commitments that the Company will publicly clarify in time
after knowing any information on any public communications media
HEFEI MEILING CO., LTD. Annual Report 2016
that may cause misleading influence on the stock price
3. The Company‘s directors, supervisors and senior executives will
listen carefully to the opinions and criticisms of the public and never
use any acquired inside information and other improper means to
directly or indirectly engage in the trading activities of the Company's
stock.
Six issuing
Promise that the restricted period of 2016 non-public offering of A
object except 2016-10-14 to Implemen
shares of Meiling subscribed this time is 12 months. 2016-9-9
Sichuan 2017-10-14 ting
Changhong
Perform the commitment promptly or
√ Yes □ No
not
If the commitments is not fulfilled on
time, shall explain the specify reason Non-applicable
and the next work plan
Note: for the commitments completed and exemption for implementing in above mentioned table, the Company will not disclose in next ordinary report
HEFEI MEILING CO., LTD. Annual Report 2016
(II) Concerning assts or project of the Company, which has profit forecast, and reporting
period still in forecasting period, explain reasons of reaching the original profit forecast
□ Applicable √ Not applicable
IV. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
No non-operational fund occupation from controlling shareholders and its related party in
period.
Disclosure date for specific
approval opinion on fund 2017-3-30
occupation from CPA
Disclosure index for specific Juchao website: www.cninfo.com.cn--Special explanation of non-operating
approval opinion on fund capital occupation and other related capital transactions in Hefei Meiling Co.,
occupation from CPA Ltd. in 2016.
V. Explanation from Board of Directors, Supervisory Committee and Independent
Directors (if applicable) for “Qualified Opinion” that issued by CPA
□ Applicable √ Not applicable
VI. Particulars about the changes in aspect of accounting policy, estimates and
calculation method compared with the financial report of last year
□ Applicable √ Not applicable
No particulars about the changes in aspect of accounting policy, estimates or calculation
method in Period.
VII. Major accounting errors within reporting period that needs retrospective
restatement
□ Applicable √ Not applicable
No major accounting errors within reporting period that needs retrospective restatement for the
Company in the period.
VIII. Compare with last year’s financial report; explain changes in consolidation
statement’s scope
√Applicable □ Not applicable
The consolidated financial statements of the Company cover 50 subsidiaries, including
Sichuan Changhong Air Conditioning Co., Ltd., Zhongshan Changhong Electric Co., Ltd., Zhongke
Meiling Cryogenic Technology Co., Ltd. and Guangdong Changhong Ridian Technology Co., Ltd.
(hereinafter referred to as \"Ridian Company\"). Compared with the previous year, during the
reporting period, three subsidiaries are newly included in the consolidated financial statements,
thereinto, include Ridian Company in the Company‘s consolidated financial statements due to the
HEFEI MEILING CO., LTD. Annual Report 2016
completion of industrial and commercial registration of changes for stock right assigning after
bidding 98.856% stock rights of Ridian Company. At the same time, according to the relevant
provisions of Accounting Standards for Business Enterprises No. 33 - Consolidated Financial
Statements, the company made a restatement to the beginning balance of the consolidated financial
statements and the number at the same period of last year, the resolution of the 15th meeting of the
company‘s 8th Board of Directors passed and agreed the company to invest and build Changmei
Science and Technology Co., Ltd., the registered capital is RMB 50 million Yuan , which has
completed the industrial and commercial registration in April 2016, and has been included in the
Company‘s consolidated statements; the resolution of the 19th meeting of the company‘s 8th Board
of Directors passed and agreed the subsidiaries Zhongshan Changhong and Sichuan Changhong Air
Conditioning Co., Ltd. to jointly set up a subsidiary named \"CHANGHONG MEILING ELECTRIC
INDONESIA.PT \" in Indonesia, with registered capital of US 6 million dollars, which has
completed the industrial and commercial registration in August 2016, and has been included in the
Company‘s consolidated statements.
In addition, during the reporting period, two subsidiaries Luohe Meiling Electric Marketing
Co., Ltd. and Bengbu Meiling Electric Marketing Co., Ltd. were no longer included in the
consolidated financial statements due to the liquidation and write-off. The subsidiary Hefei Meiling
Packaging Product Co., Ltd. was no longer included in the consolidated financial statements due to
the public listing for transfer.
More details can be seen in the report ―VII. Changes in the scope of the merger‖ and ―VIII.
Interests in other entities‖ of ―Section XI Financial Report‖
IX. Appointment and non-reappointment (dismissal) of CPA
(I) Accounting firm appointed
Name of domestic accounting firm Shine Wing Certified Public Accountants (LLP)
Remuneration for domestic accounting firm
(in 10 thousand Yuan)
Continuous life of auditing service for
8-year
domestic accounting firm
Name of domestic CPA He Yong, Xia Cuiqiong
Name of foreign accounting firm (if
N/A
applicable)
Remuneration for foreign accounting firm
N/A
(10 thousand Yuan) (if applicable)
Continuous life of auditing service for
N/A
foreign accounting firm (if applicable)
Name of foreign CPA (if applicable) N/A
(II) Re-appointed accounting firms in this period
□Yes √No
(III) Appointment of internal control auditing accounting firm, financial consultant or sponsor
HEFEI MEILING CO., LTD. Annual Report 2016
√ Applicable □Not applicable
In reporting period, Shine wing Certified Public Accountants (LLP) was appointed as audit
institute of internal control for the Company, auditing charge for internal control amounting as
RMB 250,000.
In reporting period, the Company carrying private placement of shares, and appointed
Shenwan Hongyuan Securities Underwriting Sponsor Co., Ltd. as the sponsor institution and lead
underwriter of the placement. During the offering period, totally expenses 28 million Yuan
including underwriting fee and sponsor fee.
X. Particular about suspended and delisting after annual report disclosed
□ Applicable √ Not applicable
XI. Bankruptcy reorganization
□ Applicable √ Not applicable
No bankruptcy reorganization for the Company in reporting period
XII. Significant lawsuits and arbitrations of the Company
□ Applicable √Not applicable
(I) No significant lawsuits or arbitrations occurred in the reporting period
(II) Some other significant lawsuits and arbitrations in the reporting period
To maintain the independence and integrity of \"Meiling\" trademark and trade name, the
company has launched a series of litigation and arbitration related to \"Meiling\" trademark, please
see 2014 first quarter report, 2014 semi-annual report, the 2014 annual report disclosed respectively
on April 19, 2014, August 12, 2014, and March 26, 2014 for the relevant progress. Up to now, Hefei
Meiling Household Appliances Co., Ltd., Hefei Meiling Environmental Protection Equipment
Technology Co., Ltd., Hefei Meiling Purifying Equipment Technology Co., Ltd., Hefei Meiling
Electrical Appliances Co., Ltd., Hefei Meiling Cabinet Electrical Appliance Co., Ltd., Hefei Meiling
Vehicle Industry Co., Ltd., Hefei Meiling Intelligent Technology Co., Ltd. (former Hefei Meiling
Telecommunication Technology Co., Ltd., the company changed its corporate name to Hefei
Meiling Intelligent Technology Co., Ltd. on their owned, we are pursue its legal responsibility
through legal proceedings) have had no right to use \"Meiling\" trademark.
At present, only the kitchen ventilator, cooker, water heater, water purifiers and household
electrical appliances manufactured and sold by the Company and its wholly-owned subsidiary -
Guangdong Changhong Ridian Technology Co., Ltd. are the company's regular products, any other
small household appliances using same or similar trademark as our company or using the trade
name similar to the Company’s name are the Company’s products. In view of the infringement
to the Company’s trademark and trade name, false propaganda and unfair competition in the
market, the Company has carried out many ways including administrative reports, criminal
investigation and civil litigation to fight against infringement and counterfeiting behavior in the
whole country.
HEFEI MEILING CO., LTD. Annual Report 2016
XIII. Penalty and rectification
□ Applicable √ Not applicable
No penalty and rectification for the Company in reporting period.
XIV. Integrity of the company and its controlling shareholders and actual controllers
□ Applicable √ Not applicable
During the reporting period, the Company and the controlling shareholders and the actual
controllers have had good reputation, and there is no large amount due unliquidated debt sentenced
by the court.
XV. Implementation of the company’s stock incentive plan, employee stock ownership
plan or other employee incentives
√ Applicable □ Not applicable
Implementation for annual performance incentive fund
On August 9, 2012 and August 28, 2012, the Company considers the adoption of \"Hefei
Meiling annual performance incentive fund implementation plan\" (hereinafter referred to as \"\"
stimulus \"\") on the 16th meeting of the 7th board of directors and the 2012-second provisional
shareholders meeting. Details were disclosed on information 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 August 29th in the form of
announcement (No.: 2012-028, No.:2012-035).
1. Implementation about 2012, 2013 and 2014 performance incentive fund provision and
distribution plan
See details in \"Implementation of the company's annual incentive fund\" in \"XV
Implementation of the company's stock incentive plan, employee stock ownership plan, or other
employee incentive measures\" in \"Section V Significant Events\" of the company's \"2015 Annual
Report\" disclosed on March 25, 2016.
Up to the end of this reporting period, the company's stock purchased by some 2012 annual
performance incentive objects (non-directors, supervisors and senior management) with their
granted 2012 annual performance incentive funds and own funds has been fully desterilized, the
company's stock purchased by some 2013 annual performance incentive objects (non-directors,
supervisors and senior management) with their granted 2013 annual performance incentive funds
and own funds has been desterilized by 50% for term of holding for two years, see below for the
overall reducing holding-shares of some above-mentioned incentive objects; if the stock holding
period of the company's stock purchased by 2014 annual performance incentive objects with their
granted 2014 annual performance incentive funds and own funds is less than two years, the
purchased stock of all incentive objects should be locked according to the commitments. Among the
incentive objects, the current directors, supervisors and senior management have not reduced the
Company’s shares purchased by implementing 2012, 2013, and 2014 annual performance
incentive plans.
HEFEI MEILING CO., LTD. Annual Report 2016
2. Shareholding and reducing of performance incentive objects of the Company
Ended as 31 December 2016, shares hold by all incentive objects amounting to 10,161,379
shares, a 0.973 % in total share capital of the Company, including 8,828,247 A-share, a 0.845% in
total share capital and 1,333,132 B-share, a 0.128% in total share capital of the Company. Ended as
31 December 2016, other grantees of the 2012 and 2013 incentive plan (not being directors,
supervisors and senior management) have reduced holding of 3,244,577 in aggregate, accounting
for about 0.31% of the total share capital, since September 2014 to the end of the reporting period,
including reduced holding of 151,123 in the reporting period, accounting for about 0.01% of the
total share capital.
XVI. Major related transaction
(I) Related transaction with routine operation concerned
√ Applicable □Not applicabl
(1) Related transaction with routine operation concerned
HEFEI MEILING CO., LTD. Annual Report 2016
Whet
her
Trading over
Related Propor limit the Available
Related Clearing
Type of transaction tion in Date of
Seri Content of Pricing transaction approve appro form for similar
Related related amount similar
Relationship related principl price (in 10 related disclosur Index of disclosure
al party transact (in 10 transac d (in 10 ved market
transaction e thousand transactio
ion thousand tions e
Yuan) thousan limite n price
Yuan) (%)
d Yuan) d or
not
(Y/N)
Electric
melting,
Spot
Sichuan Commo resistors, Juchao
Controlling exchange,
Changhon dity integrated Marketi 2016-3-25 Website(www.cninfo.com.cn)
1 shareholder and 14,456.41 14,456.41 1.48% 100,000 No Bank --
g Electric purchas circuit ng price , 2016-5-5 No.:2016-027,2016-028,2016
ultimate controller acceptanc
Co., Ltd. ed accessory, -030,2016-046
e
color
masterbatch
Sichuan
Changhon
Commo Juchao
g Controlling
dity Sunstroke Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
2 Electronic shareholder and 0.37 0.37 0.00% 15,000 No --
purchas supplies ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
s Holding ultimate controller
ed -030,2016-046
Group
Co., Ltd.
Huayi Other enterprise Commo Compressor Marketi Spot 2016-3-25 Juchao
3 44,592.84 44,592.84 4.57% 70,000 No --
Compress control under the dity etc. ng price exchange, , 2016-5-5 Website(www.cninfo.com.cn)
HEFEI MEILING CO., LTD. Annual Report 2016
or Co., same controlling purchas Bank No.:2016-027,2016-028,2016
Ltd. shareholder and ed acceptanc -030,2016-046
ultimate controller e
Sichuan
Other enterprise
Changhon Commo Juchao
control under the Plastic Bank
g Mold dity Marketi 2016-3-25 Website(www.cninfo.com.cn)
4 same controlling products 42,763.92 42,763.92 4.38% 100,000 No acceptanc --
Plastic purchas ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and etc. e
Tech. Co., ed -030,2016-046
ultimate controller
Ltd.
Sichuan Other enterprise
Commo Juchao
Changhon control under the Bank
dity Door shell, Marketi 2016-3-25 Website(www.cninfo.com.cn)
5 g Jijia same controlling baseboard 21,372.67 21,372.67 2.19% 100,000 No acceptanc --
purchas etc. ng price , 2016-5-5 No.:2016-027,2016-028,2016
Fine Co., shareholder and e
ed -030,2016-046
Ltd. ultimate controller
Sichuan Other enterprise
Commo Juchao
Changhon control under the Bank
dity Packing Marketi 2016-3-25 Website(www.cninfo.com.cn)
6 g Package same controlling case, printed 5,862.38 5,862.38 0.60% 100,000 No acceptanc --
purchas matter etc. ng price , 2016-5-5 No.:2016-027,2016-028,2016
Printing shareholder and e
ed -030,2016-046
Co., Ltd. ultimate controller
CHANG Other enterprise
Commo Juchao
HONG(H control under the Balck and
dity Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
7 K)TRADI same controlling white 179.34 179.34 0.02% 100,000 No --
purchas ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
NGLIMIT shareholder and material
ed -030,2016-046
ED ultimate controller
Sichuan Other enterprise
Commo Printed Juchao
Changhon control under the Bank
dity board Marketi 2016-3-25 Website(www.cninfo.com.cn)
8 g same controlling 770.77 770.77 0.08% 100,000 No acceptanc --
purchas components ng price , 2016-5-5 No.:2016-027,2016-028,2016
Precision shareholder and e
ed etc. -030,2016-046
Electronic ultimate controller
HEFEI MEILING CO., LTD. Annual Report 2016
s Tech.
Co., Ltd.
Sichuan
Changhon Other enterprise
Commo Juchao
g New control under the Power
dity Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
9 Energy same controlling supply, 6.69 6.69 0.00% 100,000 No --
purchas ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Technolo shareholder and battery
ed -030,2016-046
gy Co., ultimate controller
Ltd.
Other enterprise
Commo Juchao
081 control under the
dity Transformer Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
10 Electronic same controlling 278.61 278.61 0.03% 15,000 No --
purchas etc. ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Group shareholder and
ed -030,2016-046
ultimate controller
Guangdon
Other enterprise
g Commo Juchao
control under the
Changhon dity Foam pieces Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
11 same controlling 865.98 865.98 0.09% 100,000 No --
g purchas etc. ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
Electronic ed -030,2016-046
ultimate controller
s Co., Ltd.
Sichuan
Other enterprise
Hongyu Commo Juchao
control under the Bank
Metal dity Marketi 2016-3-25 Website(www.cninfo.com.cn)
12 same controlling Radiator 55.98 55.98 0.01% 100,000 No acceptanc --
Manufact purchas ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and e
ure Co., ed -030,2016-046
ultimate controller
Ltd.
Sichuan Other enterprise Commo Spot Juchao
Marketi 2016-3-25
13 Changhon control under the dity Hand piece 468.62 468.62 0.05% 100,000 No exchange, -- Website(www.cninfo.com.cn)
ng price , 2016-5-5
g same controlling purchas Bank No.:2016-027,2016-028,2016
HEFEI MEILING CO., LTD. Annual Report 2016
Intelligent shareholder and ed acceptanc -030,2016-046
Manufact ultimate controller e
uring
Technolo
gy Co.,
Ltd.
Sichuan
Other enterprise Printed
Changhon Commo Juchao
control under the board, Bank
g Devices dity Marketi 2016-3-25 Website(www.cninfo.com.cn)
14 same controlling remote 684.44 684.44 0.07% 100,000 No acceptanc --
Technolo purchas ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and control and e
gy Co., ed -030,2016-046
ultimate controller transformer
Ltd.
Sichuan
Other enterprise Spot
Changhon Commo Juchao
control under the Sheet metal exchange,
g Xinrui dity Marketi 2016-3-25 Website(www.cninfo.com.cn)
15 same controlling parts, plastic 5,019.64 5,019.64 0.51% 15,000 No Bank --
Technolo purchas ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and parts etc. acceptanc
gy Co., ed -030,2016-046
ultimate controller e
Ltd
Sichuan Other enterprise
Commo Juchao
Hongwei control under the
dity DC power Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
16 Technolo same controlling 342.66 342.66 0.04% 100,000 No --
purchas supply etc. ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
gy Co., shareholder and
ed -030,2016-046
Ltd. ultimate controller
Sichuan
Other enterprise
Changhon Commo Juchao
control under the Light lamp,
g Lighting dity Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
17 same controlling lamp tube 0.57 0.57 0.00% 100,000 No --
Technolo purchas ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and etc.
gy ed -030,2016-046
ultimate controller
Co.,Ltd.
HEFEI MEILING CO., LTD. Annual Report 2016
Other enterprise
Sichuan Commo Juchao
control under the Advertising
Jiahong dity Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
18 same controlling materials, 13.77 13.77 0.00% 15,000 No --
Industrial purchas ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and plant etc.
Co., Ltd. ed -030,2016-046
ultimate controller
Sichuan
Other enterprise
Zhiyijia Commo Juchao
control under the
Network dity Electronic Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
19 same controlling 2.56 2.56 0.00% 100,000 No --
Technolo purchas products ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
gy Co., ed -030,2016-046
ultimate controller
Ltd.
Sichuan Other enterprise
Commo Juchao
Changhon control under the
dity Auxiliary Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
20 g Power same controlling 3.68 3.68 0.00% 100,000 No --
purchas parts ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Source shareholder and
ed -030,2016-046
Co., Ltd. ultimate controller
Other enterprise
Sichuan Commo Juchao
control under the
Huafeng dity Air Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
21 same controlling 23.04 23.04 0.00% 15,000 No --
Corp. purchas conditioner ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
Group ed -030,2016-046
ultimate controller
Sichuan
Service Other enterprise Spot
Commo Juchao
Exp. control under the exchange,
dity Three pack Marketi 2016-3-25 Website(www.cninfo.com.cn)
22 Appliance same controlling 1.67 1.67 0.00% 100,000 No Bank --
purchas accessories ng price , 2016-5-5 No.:2016-027,2016-028,2016
Service shareholder and acceptanc
ed -030,2016-046
Chain ultimate controller e
Co., Ltd.
HEFEI MEILING CO., LTD. Annual Report 2016
Sichuan
Other enterprise Spot
Changhon Commo Printed Juchao
control under the exchange,
g dity boards, Marketi 2016-3-25 Website(www.cninfo.com.cn)
23 same controlling 3,485.14 3,485.14 0.36% 100,000 No Bank --
Electronic purchas transformers ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and acceptanc
Products ed , etc. -030,2016-046
ultimate controller e
Co., Ltd.
Other enterprise
Sichuan Commo Juchao
control under the
Hongxin dity Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
24 same controlling Software 5.09 5.09 0.00% 100,000 No --
Software purchas ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
Co., Ltd. ed -030,2016-046
ultimate controller
Sichuan Other enterprise
Commo Juchao
Changhon control under the
dity Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
25 g Property same controlling Bonsai 0.04 0.04 0.00% 15,000 No --
purchas ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Service shareholder and
ed -030,2016-046
Co., Ltd. ultimate controller
Information
system Spot
Sichuan Juchao
Controlling Accept services, exchange,
Changhon Marketi 2016-3-25 Website(www.cninfo.com.cn)
26 shareholder and the marketing 2,063.55 2,063.55 1.51% 5,000 No Bank --
g Electric ng price , 2016-5-5 No.:2016-027,2016-028,2016
ultimate controller services fees, repair acceptanc
Co., Ltd. -030,2016-046
fees, shared e
service fees
Sichuan
Other enterprise Spot
Changhon Transportati Juchao
control under the Accept exchange,
g on, storage, Marketi 2016-3-25 Website(www.cninfo.com.cn)
27 same controlling the 43,875.55 43,875.55 32.11% 65,000 No Bank --
Minsheng loading and ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and services acceptanc
Logistics unloading -030,2016-046
ultimate controller e
Co., LTD
HEFEI MEILING CO., LTD. Annual Report 2016
Sichuan
Other enterprise
Changhon Juchao
control under the Accept Bank
g Mold maintenance Marketi 2016-3-25 Website(www.cninfo.com.cn)
28 same controlling the 5.56 5.56 0.00% 5,000 No acceptanc --
Plastic fee etc. ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and services e
Tech. Co., -030,2016-046
ultimate controller
Ltd.
Sichuan
Service Other enterprise Spot
Juchao
Exp. control under the Accept After-sales exchange,
Marketi 2016-3-25 Website(www.cninfo.com.cn)
29 Appliance same controlling the maintenance 11,989.08 11,989.08 8.77% 20,000 No Bank --
ng price , 2016-5-5 No.:2016-027,2016-028,2016
Service shareholder and services fee etc. acceptanc
-030,2016-046
Chain ultimate controller e
Co., Ltd.
Other enterprise
Sichuan Juchao
control under the Accept
Hongxin Software Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
30 same controlling the 30.38 30.38 0.02% 5,000 No --
Software usage fee ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and services
Co., Ltd. -030,2016-046
ultimate controller
Guangdon
Other enterprise
g Juchao
control under the Accept Security
Changhon Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
31 same controlling the service 77.48 77.48 0.06% 5,000 No --
g ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and services charge
Electronic -030,2016-046
ultimate controller
s Co., Ltd.
Other enterprise
Sichuan Maintenanc Juchao
control under the Accept
Jiahong e fee, Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
32 same controlling the 18.82 18.82 0.01% 15,000 No --
Industrial business ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and services
Co., Ltd. activity fee -030,2016-046
ultimate controller
HEFEI MEILING CO., LTD. Annual Report 2016
Sichuan
Other enterprise
Changhon Juchao
control under the Accept
g Business Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
33 same controlling the 18.12 18.12 0.01% 15,000 No --
Internatio activity fee ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and services
nal Hotel -030,2016-046
ultimate controller
Co., Ltd.
CHANG Other enterprise
Juchao
HONG(H control under the Accept
Sales Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
34 K)TRADI same controlling the 9.75 9.75 0.01% 5,000 No --
expense ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
NGLIMIT shareholder and services
-030,2016-046
ED ultimate controller
Sichuan
Changhon
Juchao
g Controlling Accept Employee
Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
35 Electronic shareholder and the physical 11.34 11.34 0.01% 15,000 No --
ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
s Holding ultimate controller services examination
-030,2016-046
Group
Co., Ltd.
Sichuan
Changhon Other enterprise
Juchao
g control under the Accept
Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
36 Internatio same controlling the Plane ticket 11.99 11.99 0.01% 15,000 No --
ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
nal Travel shareholder and services
-030,2016-046
Service ultimate controller
Co., Ltd.
Sichuan Other enterprise Juchao
Accept Engineering
Changhon control under the Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
37 the maintenance 0.67 0.67 0.00% 15,000 No --
g Property same controlling ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
services cost
Service shareholder and -030,2016-046
HEFEI MEILING CO., LTD. Annual Report 2016
Co., Ltd. ultimate controller
Sichuan
Changhon Other enterprise
Juchao
g control under the Accept Bank
Maintenanc Marketi 2016-3-25 Website(www.cninfo.com.cn)
38 Precision same controlling the 2.84 2.84 0.00% 5,000 No acceptanc --
e cost ng price , 2016-5-5 No.:2016-027,2016-028,2016
Electronic shareholder and services e
-030,2016-046
s Tech. ultimate controller
Co., Ltd.
Sichuan Other enterprise
Juchao
Hongwei control under the Accept Laboratory
Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
39 Technolo same controlling the technical 23.58 23.58 0.02% 5,000 No --
ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
gy Co., shareholder and services service fee
-030,2016-046
Ltd. ultimate controller
Sichuan
Other enterprise
Zhiyijia Juchao
control under the Accept
Network After-sale Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
40 same controlling the 0.25 0.25 0.00% 5,000 No --
Technolo service ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and services
gy Co., -030,2016-046
ultimate controller
Ltd.
Spot
Sichuan Juchao
Controlling Accept Water, exchange,
Changhon Marketi 2016-3-25 Website(www.cninfo.com.cn)
41 shareholder and fuel and electricity 1,658.98 1,658.98 0.17% 100,000 No Bank --
g Electric ng price , 2016-5-5 No.:2016-027,2016-028,2016
ultimate controller power and gas fee acceptanc
Co., Ltd. -030,2016-046
e
Huayi Other enterprise Spot Juchao
Accept
Compress control under the Compressed Marketi exchange, 2016-3-25 Website(www.cninfo.com.cn)
42 fuel and 48.05 48.05 0.00% 100 No --
or Co., same controlling air fee ng price Bank , 2016-5-5 No.:2016-027,2016-028,2016
power
Ltd. shareholder and acceptanc -030,2016-046
HEFEI MEILING CO., LTD. Annual Report 2016
ultimate controller e
Guangdon
Other enterprise Water,
g Juchao
control under the Accept electricity
Changhon Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
43 same controlling fuel and and 153.20 153.20 0.02% 100,000 No --
g ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and power compressed
Electronic -030,2016-046
ultimate controller air fee
s Co., Ltd.
Other enterprise
Sichuan Juchao
control under the Accept Water and
Jiahong Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
44 same controlling fuel and electricity 1.15 1.15 0.00% 15,000 No --
Industrial ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and power fee
Co., Ltd. -030,2016-046
ultimate controller
Hefei
Changhon Other enterprise
Juchao
g New control under the Accept
Electricity Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
45 Energy same controlling fuel and 24.26 24.26 0.00% 100,000 No --
fee ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Technolo shareholder and power
-030,2016-046
gy Co., ultimate controller
Ltd.
Sichuan
Changhon
Juchao
g Controlling Accept Water and
Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
46 Electronic shareholder and fuel and electricity 1.02 1.02 0.00% 15,000 No --
ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
s Holding ultimate controller power fee
-030,2016-046
Group
Co., Ltd.
Sichuan Other enterprise Accept Water and Marketi Spot 2016-3-25 Juchao
47 4.51 4.51 0.00% 15,000 No --
Changhon control under the fuel and electricity ng price exchange , 2016-5-5 Website(www.cninfo.com.cn)
HEFEI MEILING CO., LTD. Annual Report 2016
g Property same controlling power fee No.:2016-027,2016-028,2016
Service shareholder and -030,2016-046
Co., Ltd. ultimate controller
Spot
Sichuan Juchao
Controlling exchange,
Changhon Sales of Air-conditio Marketi 2016-3-25 Website(www.cninfo.com.cn)
48 shareholder and 108,928.79 108,928.79 8.70% 350,000 No Bank --
g Electric goods ner ng price , 2016-5-5 No.:2016-027,2016-028,2016
ultimate controller acceptanc
Co., Ltd. -030,2016-046
e
Sichuan
Changhon
Juchao
g Controlling
Sales of Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
49 Electronic shareholder and Food 338.20 338.20 0.03% 10,000 No --
goods ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
s Holding ultimate controller
-030,2016-046
Group
Co., Ltd.
Sichuan Other enterprise
Juchao
Changhon control under the Door shell, Bank
Sales of Marketi 2016-3-25 Website(www.cninfo.com.cn)
50 g Jijia same controlling bottom 4,693.13 4,693.13 0.37% 350,000 No acceptanc --
goods ng price , 2016-5-5 No.:2016-027,2016-028,2016
Fine Co., shareholder and plate, etc. e
-030,2016-046
Ltd. ultimate controller
Sichuan
Other enterprise
Changhon Color Juchao
control under the Bank
g Mold Sales of Masterbatch Marketi 2016-3-25 Website(www.cninfo.com.cn)
51 same controlling 13,701.81 13,701.81 1.09% 350,000 No acceptanc --
Plastic goods , plastic ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and e
Tech. Co., particle -030,2016-046
ultimate controller
Ltd.
Lejiayi Other enterprise Refrigerator Spot Juchao
Sales of Marketi 2016-3-25
52 Chain control under the , washing 365.25 365.25 0.03% 350,000 No exchange, -- Website(www.cninfo.com.cn)
goods ng price , 2016-5-5
Managem same controlling machine Bank No.:2016-027,2016-028,2016
HEFEI MEILING CO., LTD. Annual Report 2016
ent Co., shareholder and acceptanc -030,2016-046
Ltd. ultimate controller e
PT.CHA Other enterprise
Air Juchao
NGHON control under the
Sales of conditioning Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
53 GELECT same controlling 2.60 2.60 0.00% 350,000 No --
goods maintenance ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
RICINDO shareholder and
spare parts -030,2016-046
NESIA ultimate controller
CHANG Other enterprise
Juchao
HONG(H control under the Refrigerator
Sales of Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
54 K)TRADI same controlling , air 45,103.46 45,103.46 3.60% 350,000 No --
goods ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
NGLIMIT shareholder and conditioner
-030,2016-046
ED ultimate controller
CHANG Other enterprise
Juchao
HONGEL control under the
Sales of Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
55 ECTRIC( same controlling Refrigerator 13.92 13.92 0.00% 350,000 No --
goods ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
AUSTRA shareholder and
-030,2016-046
LIA) ultimate controller
Sichuan Other enterprise
Juchao
Hongwei control under the
Sales of DC power Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
56 Technolo same controlling 9.76 9.76 0.00% 350,000 No --
goods supply etc. ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
gy Co., shareholder and
-030,2016-046
Ltd. ultimate controller
Sichuan
Other enterprise Spot
Changhon Juchao
control under the Refrigerator exchange,
g Sales of Marketi 2016-3-25 Website(www.cninfo.com.cn)
57 same controlling , air 87.20 87.20 0.01% 350,000 No Bank --
Minsheng goods ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and conditioner acceptanc
Logistics -030,2016-046
ultimate controller e
Co., LTD
HEFEI MEILING CO., LTD. Annual Report 2016
Sichuan
Service Other enterprise Spot
Juchao
Exp. control under the exchange,
Sales of Maintenanc Marketi 2016-3-25 Website(www.cninfo.com.cn)
58 Appliance same controlling 724.69 724.69 0.06% 350,000 No Bank --
goods e parts ng price , 2016-5-5 No.:2016-027,2016-028,2016
Service shareholder and acceptanc
-030,2016-046
Chain ultimate controller e
Co., Ltd.
Sichuan
Changhon Other enterprise
Juchao
g Gerun control under the
Sales of Waste Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
59 Renewabl same controlling 949.01 949.01 0.08% 350,000 No --
goods materials ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
e shareholder and
-030,2016-046
Resources ultimate controller
Co., Ltd.
Hefei Other enterprise
Juchao
Changhon control under the Bank
Sales of Marketi 2016-3-25 Website(www.cninfo.com.cn)
60 g same controlling Packing box 255.71 255.71 0.02% 350,000 No acceptanc --
goods ng price , 2016-5-5 No.:2016-027,2016-028,2016
Industrial shareholder and e
-030,2016-046
Co., Ltd. ultimate controller
Other enterprise
Sichuan Juchao
control under the
Huafeng Sales of Air-conditio Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
61 same controlling 17.25 17.25 0.00% 10,000 No --
Corp. goods ner ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
Group -030,2016-046
ultimate controller
Sichuan Other enterprise Refrigerator
Juchao
Zhiyijia control under the , air
Sales of Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
62 Network same controlling conditioner, 143,292.46 143,292.46 11.44% 350,000 No --
goods ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Technolo shareholder and washing
-030,2016-046
gy Co., ultimate controller machine
HEFEI MEILING CO., LTD. Annual Report 2016
Ltd.
Other enterprise
Sichuan Juchao
control under the
Changhon Sales of Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
63 same controlling Food 3.95 3.95 0.00% 350,000 No --
g Property goods ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
Co., Ltd. -030,2016-046
ultimate controller
Anhui
Other enterprise Spot
Xinhao Juchao
control under the exchange,
Plasma Sales of Small home Marketi 2016-3-25 Website(www.cninfo.com.cn)
64 same controlling 5.13 5.13 0.00% 10,000 No Bank --
Display goods appliances ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and acceptanc
Panel Co., -030,2016-046
ultimate controller e
Ltd.
Sichuan
Other enterprise
Changhon Juchao
control under the
g Network Sales of Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
65 same controlling Food 1.57 1.57 0.00% 350,000 No --
Technolo goods ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
gy Co., -030,2016-046
ultimate controller
Ltd.
Chengdu
Changhon Other enterprise
Juchao
g control under the
Sales of Air-conditio Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
66 Electronic same controlling 1.55 1.55 0.00% 350,000 No --
goods ner ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Technolo shareholder and
-030,2016-046
gy Co., ultimate controller
Ltd.
Sichuan Other enterprise Juchao
Sales of Marketi Spot 2016-3-25
67 Changhon control under the Food 0.31 0.31 0.00% 350,000 No -- Website(www.cninfo.com.cn)
goods ng price exchange , 2016-5-5
g same controlling No.:2016-027,2016-028,2016
HEFEI MEILING CO., LTD. Annual Report 2016
Intelligent shareholder and -030,2016-046
Health ultimate controller
Technolo
gy Co.,
Ltd.
Sichuan Other enterprise
Juchao
Changhon control under the
Sales of Air-conditio Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
68 g Property same controlling 4.89 4.89 0.00% 10,000 No --
goods ner ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Service shareholder and
-030,2016-046
Co., Ltd. ultimate controller
Guangdon
Other enterprise
g Juchao
control under the
Changhon Sales of Small home Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
69 same controlling 0.14 0.14 0.00% 350,000 No --
g goods appliances ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
Electronic -030,2016-046
ultimate controller
s Co., Ltd.
Other enterprise
Sichuan Juchao
control under the
Huanyu Sales of Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
70 same controlling Food 1.42 1.42 0.00% 10,000 No --
Industrial goods ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
Co. Ltd. -030,2016-046
ultimate controller
Sichuan
Other enterprise Spot
Changhon Juchao
control under the Sheet metal exchange,
g Xinrui Sales of Marketi 2016-3-25 Website(www.cninfo.com.cn)
71 same controlling parts, plastic 75.91 75.91 0.01% 10,000 No Bank --
Technolo goods ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and parts, etc. acceptanc
gy Co., -030,2016-046
ultimate controller e
Ltd
Sichuan Other enterprise Sales of Marketi Spot 2016-3-25 Juchao
72 Food 4.32 4.32 0.00% 350,000 No --
Changhon control under the goods ng price exchange , 2016-5-5 Website(www.cninfo.com.cn)
HEFEI MEILING CO., LTD. Annual Report 2016
g same controlling No.:2016-027,2016-028,2016
Intelligent shareholder and -030,2016-046
Manufact ultimate controller
uring
Technolo
gy Co.,
Ltd.
Mianyang
Technolo Other enterprise
Juchao
gy Town control under the
Sales of Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
73 Big Data same controlling Food 0.06 0.06 0.00% 350,000 No --
goods ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Technolo shareholder and
-030,2016-046
gy Co., ultimate controller
Ltd.
Other enterprise
BVCH Juchao
control under the
Optronics Sales of Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
74 same controlling Food 1.91 1.91 0.00% 350,000 No --
(Sichuan) goods ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
Co., Ltd. -030,2016-046
ultimate controller
Sichuan
Other enterprise
Changhon Juchao
control under the
g Sales of Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
75 same controlling Food 8.74 8.74 0.00% 350,000 No --
Electronic goods ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
Products -030,2016-046
ultimate controller
Co., Ltd.
Sichuan Other enterprise Juchao
Changhon control under the Sales of Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
76 Food 0.25 0.25 0.00% 10,000 No --
g Group same controlling goods ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Finance shareholder and -030,2016-046
HEFEI MEILING CO., LTD. Annual Report 2016
Co., Ltd. ultimate controller
Other enterprise Spot
Huayi Juchao
control under the exchange,
Compress Sales of Air-conditio Marketi 2016-3-25 Website(www.cninfo.com.cn)
77 same controlling 16.92 16.92 0.00% 350,000 No Bank --
or Co., goods ner ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and acceptanc
Ltd. -030,2016-046
ultimate controller e
Sichuan Other enterprise
Juchao
Changhon control under the Bank
Sales of Air-conditio Marketi 2016-3-25 Website(www.cninfo.com.cn)
78 g Package same controlling 33.31 33.31 0.00% 350,000 No acceptanc --
goods ner ng price , 2016-5-5 No.:2016-027,2016-028,2016
Printing shareholder and e
-030,2016-046
Co., Ltd. ultimate controller
Sichuan Other enterprise
Juchao
Changhon control under the Air-conditio
Sales of Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
79 g Power same controlling ner 5.34 5.34 0.00% 350,000 No --
goods ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Source shareholder and components
-030,2016-046
Co., Ltd. ultimate controller
Sichuan
Changhon Other enterprise
Juchao
g control under the
Sales of Air-conditio Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
80 Education same controlling 0.31 0.31 0.00% 350,000 No --
goods ner ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Technolo shareholder and
-030,2016-046
gy Co., ultimate controller
Ltd.
Guangdon Other enterprise
Providin Juchao
g control under the Water and
g fuel Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
81 Changhon same controlling electricity 95.61 95.61 0.01% 350,000 No --
and ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
g shareholder and fee
power -030,2016-046
Electronic ultimate controller
HEFEI MEILING CO., LTD. Annual Report 2016
s Co., Ltd.
Sichuan
Other enterprise Spot
Changhon Providin Juchao
control under the Water and exchange,
g g fuel Marketi 2016-3-25 Website(www.cninfo.com.cn)
82 same controlling electricity 6.87 6.87 0.00% 350,000 No Bank --
Minsheng and ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and fee acceptanc
Logistics power -030,2016-046
ultimate controller e
Co., LTD
Sichuan
Other enterprise
Changhon Providin Juchao
control under the Water and Bank
g Devices g fuel Marketi 2016-3-25 Website(www.cninfo.com.cn)
83 same controlling electricity 46.33 46.33 0.00% 350,000 No acceptanc --
Technolo and ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and fee e
gy Co., power -030,2016-046
ultimate controller
Ltd.
Sichuan Other enterprise
Providin Juchao
Changhon control under the Water and Bank
g fuel Marketi 2016-3-25 Website(www.cninfo.com.cn)
84 g Jijia same controlling electricity 9.64 9.64 0.00% 350,000 No acceptanc --
and ng price , 2016-5-5 No.:2016-027,2016-028,2016
Fine Co., shareholder and fee e
power -030,2016-046
Ltd. ultimate controller
Sichuan
Other enterprise
Changhon Providin Juchao
control under the Water and Bank
g Mold g fuel Marketi 2016-3-25 Website(www.cninfo.com.cn)
85 same controlling electricity 485.62 485.62 0.04% 350,000 No acceptanc --
Plastic and ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and fee e
Tech. Co., power -030,2016-046
ultimate controller
Ltd.
Sichuan Other enterprise Providin Juchao
Water and
Hongwei control under the g fuel Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
86 electricity 0.79 0.79 0.00% 350,000 No --
Technolo same controlling and ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
fee
gy Co., shareholder and power -030,2016-046
HEFEI MEILING CO., LTD. Annual Report 2016
Ltd. ultimate controller
Sichuan Other enterprise Rental of
Rent to Juchao
Changhon control under the warehouse Bank
the Marketi 2016-3-25 Website(www.cninfo.com.cn)
87 g Jijia same controlling rental, 58.31 58.31 0.35% 3,000 No acceptanc --
related ng price , 2016-5-5 No.:2016-027,2016-028,2016
Fine Co., shareholder and forklift, two e
party -030,2016-046
Ltd. ultimate controller living area
Sichuan
Other enterprise
Changhon Rent to Juchao
control under the Storage Bank
g Mold the Marketi 2016-3-25 Website(www.cninfo.com.cn)
88 same controlling lease, 132.08 132.08 0.79% 3,000 No acceptanc --
Plastic related ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and workshop e
Tech. Co., party -030,2016-046
ultimate controller
Ltd.
Sichuan
Other enterprise Spot
Changhon Rent to Juchao
control under the Warehouse exchange,
g Xinrui the Marketi 2016-3-25 Website(www.cninfo.com.cn)
89 same controlling rental, 1.37 1.37 0.01% 10,000 No Bank --
Technolo related ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and forklift acceptanc
gy Co., party -030,2016-046
ultimate controller e
Ltd
Sichuan
Other enterprise Part of the Spot
Changhon Rent to Juchao
control under the office exchange,
g the Marketi 2016-3-25 Website(www.cninfo.com.cn)
90 same controlling rental, 118.24 118.24 0.71% 3,000 No Bank --
Minsheng related ng price , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and warehousin acceptanc
Logistics party -030,2016-046
ultimate controller g lease e
Co., LTD
Sichuan Other enterprise Rent to Juchao
Service control under the the Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
91 Apartment 21.90 21.90 0.13% 3,000 No --
Exp. same controlling related ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Appliance shareholder and party -030,2016-046
HEFEI MEILING CO., LTD. Annual Report 2016
Service ultimate controller
Chain
Co., Ltd.
Hefei Other enterprise
Rent to Juchao
Changhon control under the
the Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
92 g same controlling Apartment 44.87 44.87 0.27% 3,000 No --
related ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Industrial shareholder and
party -030,2016-046
Co., Ltd. ultimate controller
Spot
Sichuan Rent to Juchao
Controlling exchange,
Changhon the Marketi 2016-3-25 Website(www.cninfo.com.cn)
93 shareholder and Apartment 6.86 6.86 0.04% 3,000 No Bank --
g Electric related ng price , 2016-5-5 No.:2016-027,2016-028,2016
ultimate controller acceptanc
Co., Ltd. party -030,2016-046
e
Sichuan
Changhon Other enterprise
Rent to Juchao
g control under the Bank
the Marketi 2016-3-25 Website(www.cninfo.com.cn)
94 Precision same controlling Apartment 6.40 6.40 0.04% 3,000 No acceptanc --
related ng price , 2016-5-5 No.:2016-027,2016-028,2016
Electronic shareholder and e
party -030,2016-046
s Tech. ultimate controller
Co., Ltd.
Other enterprise
BVCH Rent to Juchao
control under the
Optronics the Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
95 same controlling Cargo lift 6.37 6.37 0.04% 3,000 No --
(Sichuan) related ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
Co., Ltd. party -030,2016-046
ultimate controller
Guangdon Other enterprise Rent to Juchao
g control under the the Part of the Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
96 147.44 147.44 0.88% 3,000 No --
Changhon same controlling related office rental ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
g shareholder and party -030,2016-046
HEFEI MEILING CO., LTD. Annual Report 2016
Electronic ultimate controller
s Co., Ltd.
Shenzhen Other enterprise
Rent to Juchao
Yijia‘en control under the
the Two living Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
97 Technolo same controlling 1.81 1.81 0.01% 3,000 No --
related area ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
gy Co. shareholder and
party -030,2016-046
Ltd. ultimate controller
Sichuan Other enterprise
Rent to Juchao
Hongwei control under the
the Two living Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
98 Technolo same controlling 0.50 0.50 0.00% 3,000 No --
related area ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
gy Co., shareholder and
party -030,2016-046
Ltd. ultimate controller
Sichuan Other enterprise
Rent to Juchao
Changhon control under the
the Warehousi Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
99 g Package same controlling 0.42 0.42 0.00% 3,000 No --
related ng fee ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Printing shareholder and
party -030,2016-046
Co., Ltd. ultimate controller
Sichuan
Changho Other enterprise
Rent to Juchao
ng control under the
the Workshop Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
100 Devices same controlling 82.37 82.37 0.49% 3,000 No --
related lease ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Technolo shareholder and
party -030,2016-046
gy Co., ultimate controller
Ltd.
Spot
Sichuan Rent Juchao
Controlling exchange,
Changhon from the Plant and Marketi 2016-3-25 Website(www.cninfo.com.cn)
101 shareholder and 907.78 907.78 5.43% 3,000 No Bank --
g Electric related office ng price , 2016-5-5 No.:2016-027,2016-028,2016
ultimate controller acceptanc
Co., Ltd. party -030,2016-046
e
HEFEI MEILING CO., LTD. Annual Report 2016
Sichuan
Changhon
Rent Juchao
g Controlling
from the Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
102 Electronic shareholder and Shops 8.98 8.98 0.05% 15,000 No --
related ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
s Holding ultimate controller
party -030,2016-046
Group
Co., Ltd.
Beijing
Changhon Other enterprise
Rent Juchao
g Science control under the
from the Office Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
103 and same controlling 8.91 8.91 0.05% 3,000 No --
related leasing ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
Technolo shareholder and
party -030,2016-046
gy Co., ultimate controller
Ltd.
Guangdon
Other enterprise
g Rent Juchao
control under the
Changhon from the The staff Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
104 same controlling 52.53 52.53 0.31% 3,000 No --
g related dormitory ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
Electronic party -030,2016-046
ultimate controller
s Co., Ltd.
Sichuan
Hongchen
Other enterprise
g Purchas Juchao
control under the
Constructi e of Plant Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
105 same controlling 590.96 590.96 3.42% 15,000 No --
on fixed construction ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and
Engineeri assets -030,2016-046
ultimate controller
ng Co.,
Ltd.
HEFEI MEILING CO., LTD. Annual Report 2016
Video Spot
Sichuan Purchas Juchao
Controlling conference exchange,
Changhon e of Marketi 2016-3-25 Website(www.cninfo.com.cn)
106 shareholder and equipment 22.14 22.14 0.13% 5,000 No Bank --
g Electric fixed ng price , 2016-5-5 No.:2016-027,2016-028,2016
ultimate controller and acceptanc
Co., Ltd. assets -030,2016-046
computer e
Purchas
Other enterprise e of
Sichuan Juchao
control under the fixed
Hongxin Information Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
107 same controlling assets 40.21 40.21 0.23% 5,000 No --
Software system, etc. ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
shareholder and and
Co., Ltd. -030,2016-046
ultimate controller intangib
le assets
Sichuan Other enterprise Laboratory
Purchas Juchao
Hongwei control under the apparatus
e of Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
108 Technolo same controlling and 137.49 137.49 0.80% 5,000 No --
fixed ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
gy Co., shareholder and computer
assets -030,2016-046
Ltd. ultimate controller equipment
Sichuan
Changhon
g Other enterprise Spot
Purchas Production Juchao
Intelligent control under the exchange,
e of line Marketi 2016-3-25 Website(www.cninfo.com.cn)
109 Manufact same controlling 205.38 205.38 1.19% 5,000 No Bank --
fixed transformati ng price , 2016-5-5 No.:2016-027,2016-028,2016
uring shareholder and acceptanc
assets on -030,2016-046
Technolo ultimate controller e
gy Co.,
Ltd.
Sichuan Other enterprise Purchas Central Bank Juchao
Marketi 2016-3-25
110 Changhon control under the e of control 1.79 1.79 0.01% 5,000 No acceptanc -- Website(www.cninfo.com.cn)
ng price , 2016-5-5
g Jijia same controlling fixed cabinet e No.:2016-027,2016-028,2016
HEFEI MEILING CO., LTD. Annual Report 2016
Fine Co., shareholder and assets -030,2016-046
Ltd. ultimate controller
Sichuan
Changhon Other enterprise
Juchao
g Gerun control under the Sales of
Waste Marketi Spot 2016-3-25 Website(www.cninfo.com.cn)
111 Renewabl same controlling fixed 3.11 3.11 0.12% 5,000 No --
material ng price exchange , 2016-5-5 No.:2016-027,2016-028,2016
e shareholder and assets
-030,2016-046
Resources ultimate controller
Co., Ltd.
Total -- - 523,189.36 - - - -- -- -- --
Detail of sales return with major amount involved Not applicable
1. It is estimated that the related transaction amount resulted by purchasing goods (including door shell and plastic products etc.) and accepting fuel and power
from Sichuan Changhong and its subsidiary by the Company for year of 2016 was RMB 1000 million at most (tax-excluded), actually RMB 931,650,100 yuan
occurred in reporting period (tax-excluded).
2. It is estimated that the related transaction amount resulted by purchasing goods (including compressor purchased etc.) from Huayi Compressor and its subsidiary
by the Company for year of 2016 was RMB 700 million at most (tax-excluded), actually RMB 445,928,400 yuan occurred in reporting period (tax-excluded).
3. It is estimated that the related transaction amount resulted by purchasing or selling equipment, software, maintenance and spare parts and molds etc. from
Sichuan Changhong and its subsidiary by the Company for year of 2016 was RMB 50 million at most (tax-excluded), actually RMB 10,010,800 yuan occurred in
Report the actual implementation of the daily reporting period (tax-excluded).
related transactions which were projected about 4. It is estimated that the related transaction amount resulted by purchasing goods from and providing fuel and power to Sichuan Changhong and its subsidiary by
their total amount by types during the reporting the Company for year of 2016 was RMB 3500 million at most (tax-excluded), actually RMB 3,188,510,800 yuan occurred in reporting period (tax-excluded).
period (if applicable) 5. It is estimated that the related transaction amount resulted by purchasing compressed air, accepting energy, power and service from Huayi Compressor and its
subsidiary by the Company for year of 2016 was RMB 1 million at most (tax-excluded), actually RMB 480,500 yuan occurred in reporting period (tax-excluded).
6. It is estimated that the related transaction amount resulted by leasing business from Sichuan Changhong and its subsidiary by the Company for year of 2016 was
RMB 30 million at most (tax-excluded), actually RMB 15,967,900 yuan occurred in reporting period (tax-excluded).
7. It is estimated that the related transaction amount from domestic finished goods logistic business outsourcing and purchased compressor to Sichuan Changhong
Minsheng Logistic Co., Ltd. by the Company for year of 2016 was RMB 650 million at most (tax-excluded), actually RMB 438,755,500 yuan occurred in
reporting period (tax-excluded).
8. It is estimated that the related transaction amount from after sales service of domestic goods outsourcing to Sichuan Service Exp. Appliance Service Chain Co.,
HEFEI MEILING CO., LTD. Annual Report 2016
Ltd. by the Company for year of 2016 was RMB 200 million at most (tax-excluded), actually RMB 119,890,800 yuan occurred in reporting period.
9. It is estimated that the related transaction amount resulted by accepting other service and labor service etc. or providing other service and labor service etc. to
Sichuan Changhong and its subsidiary by the Company for year of 2016 was RMB 50 million at most (tax-excluded), actually RMB 22,133,900 yuan occurred in
reporting period (tax-excluded).
10. It is estimated that the related transaction amount resulted by selling goods from Sichuan Changhong Electronics Group and its subsidiary by the Company for
year of 2016 was RMB 100 million at most (tax-excluded), actually RMB 4,444,200 yuan occurred in reporting period.
11. It is estimated that the related transaction amount resulted by purchasing goods and receiving labor services, fuel power, leasing and purchasing equipment etc.
from Sichuan Changhong Electronics Group and its subsidiary by the Company for year of 2016 was RMB 150 million at most (tax-excluded), actually RMB
60,030,300 yuan occurred in reporting period.
Reasons for major differences between trading price and market
Not applicable
reference price
HEFEI MEILING CO., LTD. Annual Report 2016
(II)Related transactions with Finance Company
1. Related transactions about the “Financial Service Agreement” signed between the
Company and Sichuan Changhong Group Finance Co., Ltd.
In order to expand the financing channels and reduce financing costs and financial costs,
combining the good cooperation over the past three years, the company held the eighteenth meeting
of the eighth board of directors on March 18, 2016 and the first extraordinary general meeting of
2016 on April 6, 2016 which deliberated and agreed the company and Sichuan Changhong Group
Finance Co., Ltd. (hereinafter referred to as \"Changhong Finance Company\") to carry on financial
services cooperation and sign a triennial \"financial service agreement\". Under the agreement,
Changhong Finance Company would provide a series of financial services within the business
scope in accordance with the requirements of the Company and its subsidiaries, including but not
limited to deposit services, settlement services, loan services, bills discounting services, guarantees
and other services approved by China Banking Regulatory Commission that a finance company can
engage in.
In March 2017, the Company received the 2016 Annual Audit Report which was provided by
Changhong Finance Company after being audited by ShineWing Certified Public Accountants
(special general partnership) who possesses related business qualifications in securities and futures.
The basic indicators of Changhong Finance Company in 2016 conform to the Enterprise Group
Finance Company Management Measures issued by China Banking Regulatory Commission and
the relevant provisions of the Shenzhen Stock Exchange, it has been specified in the company’s
“Risk disposal plan for loans and deposits financial services of Sichuan Changhong Group
Finance Co., Ltd.” that in some situations the risk disposal procedures need to be launched, and no
such situation has occurred.
According to the provisions of \"Information Disclosure Memorandum No. 2 – transactions
and related transactions\" of Shenzhen Stock Exchange, the company carries out the loans and
deposits and other related services according to the \"Financial Services Agreement\" signed with
Changhong Finance Company, and continues to complete the risk management of loans and
deposits services with Changhong Finance Company, regularly makes special risk assessments and
issues risk assessment reports, and implements the obligation of information disclosure in
accordance with relevant regulations. On March 19, April 7, July 29,& October 18 2016, the
company has disclosed the detailed information on the appointed information disclosure media,
including \"Securities Times\", \"China Securities Journal\", \"Hong Kong Commercial Daily\" and
www.cninfo.com.cn in the form of announcement (No. 2016-020, No. 2016-021, No. 2016-022, No.
2016-037), \"Risk continuous assessment report about Sichuan Changhong Group Finance Co., Ltd.\",
and on the company’s 2015 annual report, the first quarter report of 2016, the semi-annual report
of 2016 and the third quarter report of 2016.
2. Related transactions between the Company and Changhong Finance Company
Up to 31 December 2016, the Company and its subsidiaries has opened financial business as
savings, note drawing and notes discounted with Changhong Finance Company. The Company and
its subordinate company owns 1,908,842,163.20 Yuan savings in Changhong Finance Company,
takes 25.69% of the deposit taking balance in Changhong Finance Company without 30% occupied,
HEFEI MEILING CO., LTD. Annual Report 2016
balance of notes drawing was 544,374,441.19 Yuan and balance of notes discounted as RMB
565,252,574.29 Yuan. More details are:
In RMB
Interest and
Balance at Increase in the Decrease in the Balance at commission
Name
year-begin year year year-end charge received
or paid
I. Savings in
Changhong Group 1,260,081,706.55 20,157,897,324.19 19,509,136,867.54 1,908,842,163.20 58,234,199.95
Finance Company
II. Borrowings from
Changhong Group
Finance Company
1.Short-term loans - - - - -
2.Long-term loans - - - - -
III. Other financial
business
1.notes drawing 733,001,248.18 1,701,833,720.48 1,890,460,527.47 544,374,441.19 -
2.notes discounted 236,410,328.55 1,226,847,207.83 898,004,962.09 565,252,574.29 12,054,811.69
Note: The Company purchases Guangdong Changhong Ridian Technology Co., Ltd.
(“Changhong RIdian”) in early of 2016, the above table including the financial business of
savings and notes arising from related transactions between Changhong Ridian and Changhong
Finance Company.
According to the regulations of \"Information Disclosure Memorandum No. 2 - Transactions
and Connected Transactions\" of Shenzhen Stock Exchange, Shine Wing Certified Public
Accountants (special general partnership) provided \"Special instructions on deposits, loans and
other financial business that Hefei Meiling Co., Ltd. involved in related transactions of financial
company of in 2016\" to state the deposits, loans, and other financial business that the company
developed with Changhong Finance Company during the reporting period, and disclosed at
www.cninfo.com.cn on March 30, 2017.
(III) Related transactions by assets acquisition and sold
√ Applicable □Not applicable
Book Assessed Market Trans Clearin Transacti
Type of value of valuation fair fer g form on gains
Related Relatio related Content of related Pricing for Date of
party nship transac transaction principle transferr value of value price related and
disclosure
tion ed assets transferr (in 10 (in 10 transact losses (in
(in 10 ed assets thousa thous ion
HEFEI MEILING CO., LTD. Annual Report 2016
thousand (in 10 nd and thousand
Yuan) thousand Yuan) Yuan) Yuan)
Yuan) (if (if
applicabl applica
e) ble)
Bidding the
98.856% equity of
Guangdong
Changhong Ridian Juchao
Technology Co., Website
Ltd. (including (www.cninfo.
The
Sichuan 88.916% equity of com.cn)
control -12-
Changhong Changhong Ridian No.:
ling 19,
Electric Co., directly held by 2015-061,
shareh
LTD, Sichuan
older Equity Public No.:
Sichuan Changhong and 8,984.68 9,563.93 9,565 Cash -- -12-
and its bidding bidding 2015-062,
Changhong 9.940% equity of 24,
subordi No.:
Innovation Changhong Ridian
nate 2015-066,
Investment geld by subsidiary -1-5,
subsidi No.:
Co., Ltd. of Sichuan 2016-2-4
ary 2015-067,
Changhong
–Sichuan No.:
Changhong 2016-008
Innovation
Investment Co.,
Ltd. )
Reasons for major differences between transfer
price and book value or assessed valuation value
Not applicable
(if applicable)
Improved the home appliance industry chain and production line, constructed
The impact on the Company's operating results self-owned kitchen and toilet products platform as well as small appliances.
and financial situation Achieved operation revenue of 495.0753 million Yuan and net profit of 17.2645
million Yuan in 2016
As for the relevant trading with performance
agreement involved, actual performance of the
Not applicable
Period
(IV) Material related transaction of jointly foreign investment
□ Applicable √ Not applicable
The Company has no material related transaction of jointly foreign investment occurred in
reporting period-end.
(IV) Connect of related liability and debt
√ Applicable □Not applicable
HEFEI MEILING CO., LTD. Annual Report 2016
Whether has non-operational contact of related liability and debts or not
□ Yes √No
No non-operational contact of related liability or debts in Period
HEFEI MEILING CO., LTD. Annual Report 2016
1. Claim receivable from related party:
Current
Whether has Balance at Current newly Current Balance at
interest
non-business period-begin added recovery Intere period-end
Serial Related party Relationship Causes (10
capital (10 thousand (10 thousand (10 thousand st rate (10 thousand
thousand
occupying or not Yuan) Yuan) Yuan) Yuan)
Yuan)
Operational
Sichuan Changhong Controlling shareholder and
1 contact of No 258.76 108,935.65 109,032.83 - - 161.58
Electric Co., Ltd. ultimate controller
related credit
Sichuan Changhong Operational
Controlling shareholder and
2 Electronics Holding contact of No 220.92 338.2 521.5 - - 37.62
ultimate controller
Group Co., Ltd. related credit
Other enterprise control under
Sichuan Changhong Operational
the same controlling
3 International Hotel Co., contact of No 285.98 - 152.5 - - 133.47
shareholder and ultimate
Ltd. related credit
controller
Other enterprise control under
Operational
Anhui Xinhao Plasma the same controlling
4 contact of No 64.5 5.13 63.33 - - 6.3
Display Panel Co., Ltd. shareholder and ultimate
related credit
controller
Other enterprise control under
Operational
Yibing Hongxing the same controlling
5 contact of No 105.8 - 91.09 - - 14.72
Electronics Co., Ltd. shareholder and ultimate
related credit
controller
Other enterprise control under
Sichuan Changhong Operational
the same controlling
6 Xinrui Technology Co., contact of No - 77.29 77.29 - - -
shareholder and ultimate
Ltd related credit
controller
HEFEI MEILING CO., LTD. Annual Report 2016
Other enterprise control under
Operational
Sichuan Huafeng Corp. the same controlling
7 contact of No - 17.25 17.25 - - -
Group shareholder and ultimate
related credit
controller
Other enterprise control under
Operational
Sichuan Huanyu the same controlling
8 contact of No - 1.42 1.42 - - -
Industrial Co. Ltd. shareholder and ultimate
related credit
controller
Other enterprise control under
Sichuan Changhong Operational
the same controlling
9 Group Finance Co., contact of No - 0.25 0.25 - - -
shareholder and ultimate
Ltd. related credit
controller
Other enterprise control under
Sichuan Changhong Operational
the same controlling
10 Mold Plastic Tech. Co., contact of No 20.75 14,319.50 14,243.73 - - 96.52
shareholder and ultimate
Ltd. related credit
controller
Other enterprise control under
Operational
Lejiayi Chain the same controlling
11 contact of No 32.58 365.25 397.83 - - -
Management Co., Ltd. shareholder and ultimate
related credit
controller
Other enterprise control under
Operational
Hefei Changhong the same controlling
12 contact of No 149.21 300.58 449.79 - - -
Industrial Co., Ltd. shareholder and ultimate
related credit
controller
Other enterprise control under
Operational
Huayi Compressor Co., the same controlling
13 contact of No 26.38 16.92 9.82 - - 33.48
Ltd. shareholder and ultimate
related credit
controller
14 Sichuan Changhong Other enterprise control under Operational No 0.08 33.73 33.37 - - 0.44
HEFEI MEILING CO., LTD. Annual Report 2016
Package Printing Co., the same controlling contact of
Ltd. shareholder and ultimate related credit
controller
Other enterprise control under
Operational
Sichuan Changhong the same controlling
15 contact of No 0.55 4,761.08 4,761.63 - - -
Jijia Fine Co., Ltd. shareholder and ultimate
related credit
controller
Other enterprise control under
Sichuan Changhong Operational
the same controlling
16 Network Technology contact of No 5.12 1.57 6.69 - - -
shareholder and ultimate
Co., Ltd. related credit
controller
Other enterprise control under
Operational
Sichuan Hongwei the same controlling
17 contact of No 0.9 26.25 0 - - 27.15
Technology Co., Ltd. shareholder and ultimate
related credit
controller
Other enterprise control under
Operational
PT.CHANGHONGEL the same controlling
18 contact of No 21.24 2.6 21.14 - - 2.7
ECTRICINDONESIA shareholder and ultimate
related credit
controller
Other enterprise control under
Operational
CHANGHONG(HK)T the same controlling
19 contact of No 13,321.47 45,103.46 52,370.77 - - 6,054.16
RADINGLIMITED shareholder and ultimate
related credit
controller
Other enterprise control under
Operational
CHANGHONGELECT the same controlling
20 contact of No - 14.48 0 - - 14.48
RIC(AUSTRALIA) shareholder and ultimate
related credit
controller
Sichuan Changhong Other enterprise control under Operational
21 No - 3.95 3.95 - - -
Property Co., Ltd. the same controlling contact of
HEFEI MEILING CO., LTD. Annual Report 2016
shareholder and ultimate related credit
controller
Other enterprise control under
Sichuan Changhong Operational
the same controlling
22 Gerun Renewable contact of No 0.36 952.12 952.48 - -
shareholder and ultimate
Resources Co., Ltd. related credit
controller
Other enterprise control under
Sichuan Service Exp. Operational
the same controlling
23 Appliance Service contact of No 20 746.58 746.58 - - 20
shareholder and ultimate
Chain Co., Ltd. related credit
controller
Other enterprise control under
Chengdu Changhong Operational
the same controlling
24 Electronic Technology contact of No 183.52 1.55 141.62 - - 43.45
shareholder and ultimate
Co., Ltd. related credit
controller
Other enterprise control under
Sichuan Zhiyijia Operational
the same controlling
25 Network Technology contact of No 26,096.46 143,292.46 151,984.21 - - 17,404.72
shareholder and ultimate
Co., Ltd. related credit
controller
Other enterprise control under
Operational
Guangdong Changhong the same controlling
26 contact of No - 243.19 243.19 - - -
Electronics Co., Ltd. shareholder and ultimate
related credit
controller
Other enterprise control under
Operational
Sichuan Changhong the same controlling
27 contact of No - 5.34 5.34 - - -
Power Source Co., Ltd. shareholder and ultimate
related credit
controller
Sichuan Changhong Other enterprise control under Operational
28 Minsheng Logistics the same controlling contact of No 8.03 212.31 220.34 - - -
Co., LTD shareholder and ultimate related credit
HEFEI MEILING CO., LTD. Annual Report 2016
controller
Other enterprise control under
Sichuan Changhong Operational
the same controlling
29 Devices Technology contact of No 0.14 128.7 128.84 - - -
shareholder and ultimate
Co., Ltd. related credit
controller
Other enterprise control under
Operational
BVCH Optronics the same controlling
30 contact of No - 6.37 6.37 - - -
(Sichuan) Co., Ltd. shareholder and ultimate
related credit
controller
Other enterprise control under
Sichuan Changhong Operational
the same controlling
31 Intelligent Health contact of No - 0.31 0.31 - - -
shareholder and ultimate
Technology Co., Ltd. related credit
controller
Sichuan Changhong Other enterprise control under
Operational
Intelligent the same controlling
32 contact of No - 25.47 0 - - 25.47
Manufacturing shareholder and ultimate
related credit
Technology Co., Ltd. controller
Other enterprise control under
Sichuan Changhong Operational
the same controlling
33 Electronic Products contact of No - 8.74 8.74 - - -
shareholder and ultimate
Co., Ltd. related credit
controller
Other enterprise control under
Mianyang Technology Operational
the same controlling
34 Town Big Data contact of No - 0.06 0.06 - - -
shareholder and ultimate
Technology Co., Ltd. related credit
controller
Other enterprise control under
Operational
BVCH Optronics the same controlling
35 contact of No - 1.91 1.91 - - -
(Sichuan) Co., Ltd. shareholder and ultimate
related credit
controller
HEFEI MEILING CO., LTD. Annual Report 2016
Other enterprise control under
Operational
Shenzhen Yijia‘en the same controlling
36 contact of No - 1.81 1.81 - - -
Technology Co. Ltd. shareholder and ultimate
related credit
controller
Other enterprise control under
Sichuan Changhong Operational
the same controlling
37 Precision Electronics contact of No - 6.4 6.4 - - -
shareholder and ultimate
Tech. Co., Ltd. related credit
controller
Other enterprise control under
Sichuan Changhong Operational
the same controlling
38 Education Technology contact of No - 0.31 0.31 - - -
shareholder and ultimate
Co., Ltd. related credit
controller
Other enterprise control under
Sichuan Changhong Operational
the same controlling
39 Property Service Co., contact of No - 4.89 3.64 - - 1.25
shareholder and ultimate
Ltd. related credit
controller
Other enterprise control under
Operational
Sichuan Changhe the same controlling
40 contact of No - 0.2 0.2 - - -
Technology Co., Ltd. shareholder and ultimate
related credit
controller
Total -- 40,822.75 319,963.28 336,708.53 - - 24,077.51
Influence on business performance and financial status of the Company from
--
related liabilities
2. Debts payable to related party
Balance at Current Current Current Balance at
period-begin newly recovery Intere interest period-end
Serial Related party Relationship Causes
(10 thousand added (10 thousand st rate (10 (10
Yuan) (10 Yuan) thousand thousand
HEFEI MEILING CO., LTD. Annual Report 2016
thousand Yuan) Yuan)
Yuan)
Operational
Sichuan Changhong Controlling shareholder and
1 contact of 3,639.39 19,108.86 17,238.04 - - 5,510.20
Electric Co., Ltd. ultimate controller
related debt
Sichuan Changhong Operational
Controlling shareholder and
2 Electronics Holding contact of 0.41 21.71 22.13 - - -
ultimate controller
Group Co., Ltd. related debt
Other enterprise control under Operational
CHANGHONG(HK)
3 the same controlling shareholder contact of 87.66 189.09 88.55 - - 188.2
TRADINGLIMITED
and ultimate controller related debt
CHANGHONGELEC Other enterprise control under Operational
4 TRICMIDDLEEAST the same controlling shareholder contact of 0.16 3.57 0 - - 3.73
FZE and ultimate controller related debt
Guangdong Other enterprise control under Operational
5 Changhong the same controlling shareholder contact of 272.53 1,149.19 1,060.97 - - 360.75
Electronics Co., Ltd. and ultimate controller related debt
Guangdong Other enterprise control under Operational
6 Changhong Ridian the same controlling shareholder contact of 151.6 - 151.6 - - -
Technology Co., Ltd. and ultimate controller related debt
Other enterprise control under Operational
Huayi Compressor
7 the same controlling shareholder contact of 14,024.94 44,640.89 53,085.21 - - 5,580.63
Co., Ltd.
and ultimate controller related debt
Other enterprise control under Operational
Lejiayi Chain
8 the same controlling shareholder contact of 0.09 55.89 0 - - 55.98
Management Co., Ltd.
and ultimate controller related debt
Other enterprise control under Operational
081 Electronic Group
9 the same controlling shareholder contact of 14.85 278.61 -36.95 - - 330.41
Co., Ltd.
and ultimate controller related debt
HEFEI MEILING CO., LTD. Annual Report 2016
Sichuan Zhiyijia Other enterprise control under Operational
10 Network Technology the same controlling shareholder contact of 4.87 2.81 7.68 - - -
Co., Ltd. and ultimate controller related debt
Sichuan Changhong
Other enterprise control under Operational
Intelligent
11 the same controlling shareholder contact of 3.8 674 539.93 - - 137.87
Manufacturing
and ultimate controller related debt
Technology Co., Ltd.
Other enterprise control under Operational
Mianyang Hongrun
12 the same controlling shareholder contact of 43.88 986.57 865.79 - - 164.66
Electronic Co., Ltd.
and ultimate controller related debt
Other enterprise control under Operational
Sichuan CCO Display
13 the same controlling shareholder contact of 7.46 - 7.46 - - -
Device Co., Ltd.
and ultimate controller related debt
Other enterprise control under Operational
Sichuan Hongwei
14 the same controlling shareholder contact of - 503.74 338.99 - - 164.75
Technology Co., Ltd.
and ultimate controller related debt
Sichuan Hongyu Other enterprise control under Operational
15 Metal Manufacture the same controlling shareholder contact of 7.66 55.98 16.1 - - 47.54
Co., Ltd. and ultimate controller related debt
Sichuan Service Exp. Other enterprise control under Operational
16 Appliance Service the same controlling shareholder contact of 1,235.06 11,990.75 12,561.13 - - 664.69
Chain Co., Ltd. and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
17 Package Printing Co., the same controlling shareholder contact of 386.57 5,862.38 5,085.70 - - 1,163.25
Ltd. and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
18 Power Source Co., the same controlling shareholder contact of 1.77 15.15 0 - - 16.92
Ltd. and ultimate controller related debt
HEFEI MEILING CO., LTD. Annual Report 2016
Sichuan Changhong Other enterprise control under Operational
19 Devices Technology the same controlling shareholder contact of 285.7 684.44 145.69 - - 824.45
Co., Ltd. and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
20 Gerun Renewable the same controlling shareholder contact of 36.01 6.65 - - 29.36
Resources Co., Ltd. and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
21 International Hotel the same controlling shareholder contact of - 18.12 15.67 - - 2.45
Co., Ltd. and ultimate controller related debt
Other enterprise control under Operational
Sichuan Changhong
22 the same controlling shareholder contact of 1,854.53 21,374.46 18,096.14 - - 5,132.86
Jijia Fine Co., Ltd.
and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
23 Precision Electronics the same controlling shareholder contact of 47.44 773.61 597.85 - - 223.2
Tech. Co., Ltd. and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
24 Minsheng Logistics the same controlling shareholder contact of 1,437.86 43,875.55 41,241.93 - - 4,071.48
Co., LTD and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
25 Mold Plastic Tech. the same controlling shareholder contact of 4,798.18 42,769.48 35,779.50 - - 11,788.16
Co., Ltd. and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
26 Xinrui Technology the same controlling shareholder contact of 1,809.92 5,019.64 3,696.10 - - 3,133.45
Co., Ltd and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
27 New Energy the same controlling shareholder contact of 3.51 6.69 10.17 - - 0.02
Technology Co., Ltd. and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
28 2.85 0.57 3.42 - - -
Lighting Technology the same controlling shareholder contact of
HEFEI MEILING CO., LTD. Annual Report 2016
Co.,Ltd. and ultimate controller related debt
Beijing Changhong Other enterprise control under Operational
29 Science and the same controlling shareholder contact of - 8.91 8.91 - - -
Technology Co., Ltd. and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
30 Electronic System the same controlling shareholder contact of 7.7 - - - - 7.7
Co., Ltd. and ultimate controller related debt
Other enterprise control under Operational
Sichuan Jiahong
31 the same controlling shareholder contact of 8.05 33.74 41.17 - - 0.61
Industrial Co., Ltd.
and ultimate controller related debt
Other enterprise control under Operational
Sichuan Hongxin
32 the same controlling shareholder contact of - 75.68 75.68 - - -
Software Co., Ltd.
and ultimate controller related debt
Other enterprise control under Operational
Sichuan Huafeng
33 the same controlling shareholder contact of - 28.35 0 - - 28.35
Corp. Group
and ultimate controller related debt
Sichuan Hongcheng Other enterprise control under Operational
34 Construction the same controlling shareholder contact of - 590.96 590.96 - - -
Engineering Co., Ltd. and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
35 Electronic Products the same controlling shareholder contact of - 3,485.14 3,480.14 - - 5
Co., Ltd. and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
36 International Travel the same controlling shareholder contact of - 11.99 10.49 - - 1.5
Service Co., Ltd. and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
37 Property Service Co., the same controlling shareholder contact of - 0.71 0.71 - - 0
Ltd. and ultimate controller related debt
HEFEI MEILING CO., LTD. Annual Report 2016
Hefei Changhong Other enterprise control under Operational
38 New Energy the same controlling shareholder contact of - 24.26 24.26 - - -
Technology Co., Ltd. and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
39 Property Service Co., the same controlling shareholder contact of - 0.71 0.71 - - -
Ltd. and ultimate controller related debt
Sichuan Changhong Other enterprise control under Operational
40 Diandianbang the same controlling shareholder contact of - 0.03 0 - - 0.03
Technology Co., Ltd. and ultimate controller related debt
Other enterprise control under Operational
PT.CHANGHONGEL
41 the same controlling shareholder contact of 0.02 0.02 - - -
ECTRICINDONESIA
and ultimate controller related debt
Total 30,174.47 204,322.23 194,858.50 - - 39,638.20
Influence on business performance and financial status of the Company from
--
related debts
Note: the Company purchased Changhong Ridian at beginning of 2016, and it’s a merger under the same control, the abovementioned has
re-state the data at period-begin, including Changhong Ridian. For the above-mentioned statement, up to the Period-end, debts payable to
related party from the Company and subordinate are amounting as 396,382,000 Yuan in total, the claim receivable from related party for the
Company and subordinate amounting as 240,775,100 Yuan.
HEFEI MEILING CO., LTD. Annual Report 2016
(V) Other related transactions
√ Applicable □Not applicable
The private placement of the Company (including issuring price and pricing principal,
numbers issued and effective term of the resolution) was being deliberated and approved by the
17th session of the 8th BOD and 1st extraordinary shareholders general meeting of 2016 dated 6
March 2016 and 6 April 2016.
In view of the adjustment in aspect of the issuing price and pricing princile and numbers, the
Resigning of Conditional Entry Subscription Agreement between the Company and Sichuan
Changhong Electric Co., Ltd. was deliberaed and aprpoved by the 17th session of the 8th BOD and
1st extraordinary shareholders general meeting of 2016. The Company entered into a Conditional
Entry Subscription Agreement with Sichuan Changhong on 6 March 2016, the Agreement has the
same content with former agreement, except the clause of Princing Principle and Subscription price
and Incorporation by Agreement.
Disclosure information for related transaction temporary disclosed
Temporary notice Dated disclosed Website for disclosure
2016-014: Resolution notice of 17th
meeting of 8th session of the Board
2016-017: Notice of re-signing the
―subscription agreement of privately
placement with entry-into-force 7 March 2016 Juchao Website:
conditions‖ in relation to related 7 April 2016 http://www.cninfo.com.cn
transactions
2016-037: Resolution of the 1st
extraordinary shareholders general
meeting of 2016
XVII. Significant contract and implementations
(I)Entrust, contract and leasing
1. Entrust
□ Applicable √ Not applicable
No entrust in Period.
2. Contract
□ Applicable √ Not applicable
No contract in Period.
3. Leasing
√ Applicable □Not applicable
HEFEI MEILING CO., LTD. Annual Report 2016
(1) leasing
Operational leasing of the Company please found more details in ―investment real estate‖,
―fixed assets‖, ―Lease of related party‖ and ―Rent of related party‖ in Note of Financial Statement.
(2) Gains/losses to the Company from projects that reached over 10% in total profit of the
Company in reporting period
□Applicable √ Not applicable
No gains or losses to the Company from projects that reached over 10% in total profit of the
Company in reporting period.
(ii) Major guarantee
√ Applicable □Not applicable
1. Guarantee
During the reporting period, the guarantees that the company provides for its wholly-owned
and holding subsidiaries are for the loans generated by supporting their production and operation,
the guaranty type is assurance; the guarantees that the company and subsidiaries provide for the
distributors are to provide joint liability guarantees for the high quality distributors conforming to
certain conditions within the line of credit of designated banks, the E-bank acceptance bills opened
under this line of credit are all used for the distributors to pay the purchase payment for goods to the
Company and subsidiaries, aiming to promote the company‘s channel business development,
strengthen the good cooperative relationship between the company and the downstream distributors,
and effectively stimulate the company and its subsidiaries‘ sales growth.
Up to 31 December 2016, the company has granted credit to the guarantees of some
wholly-owned and holding subsidiaries, in addition to the wholly-owned subsidiary Zhongshan
Changhong, other subsidiaries have no actual guarantee; meanwhile, the company and its
subsidiaries have granted credit to the guarantees of some high quality distributors, the balance of
guarantees is within the line of credit. The external guarantees of the Company and subsidiaries are
as follows:
In 10 thousand Yuan
Particulars about the external guarantee of the Company and subsidiaries (Barring the guarantee for subsidiaries)
Complete
Name of the Actual date of Actual Guarantee
Related Announcement Guarantee Guarantee Guarant impleme
Company happening (Date of guarantee for related
disclosure date limit type ee term ntation or
guaranteed signing agreement) limit party
not
Dealer of Notice No.:
Hefei 2016-068,No.: 2016-072 Joint
Meiling Co., and No.: 2016-077 on 20,000 2016-3-11 1,459.09 liability 1 year No No
Ltd. 26 November 2016 and guaranty
14 December 2016
HEFEI MEILING CO., LTD. Annual Report 2016
Dealer of Notice No.:
Sichuan 2016-068,No.: 2016-072 Joint
Changhong and No.: 2016-077 on 20,000 2016-1-15 433.9981 liability 1 year No No
Air-condition 26 November 2016 and guaranty
er Co., Ltd. 14 December 2016
Total actual occurred
Total approving external guarantee in
40,000 external guarantee in report 1,893.0881
report period (A1)
period (A2)
Total actual balance of
Total approved external guarantee at the
40,000 external guarantee at the end 1,279.6881
end of report period ( A3)
of report period (A4)
Guarantee between the Company and the subsidiaries
Complete
Name of the Actual date of Actual Guarantee
Related Announcement Guarantee Guarantee Guarant impleme
Company happening (Date of guarantee for related
disclosure date limit type ee term ntation or
guaranteed signing agreement) limit party
not
Joint
5,000（note
2015-5-27 liability 1 year Yes No
1）
guaranty
Joint
Notice No.:
2015-3-30 8,000 liability 1 year Yes No
2015-003,No.: 2015-007
guaranty
and No.: 2015-015 on 55,000
26 March 2015 and 18
Joint
Zhongshan April 2015 2015-12-29 15,000 liability 1 year Yes No
Changhong guaranty
Electric Co., Joint
17,000
LTD 2015-12-30 liability 1 year No No
（note 2）
guaranty
Joint
Notice No.:
2016-8-5 5,000 liability 1 year No No
2016-027,No.: 2016-031
guaranty
and No.: 2016-046 on 56,500
25 March 2016 and 5
Joint
May 2016
2016-10-28 5,000 liability 1 year No No
guaranty
Joint
Guangdong Notice No.:
2016-9-1 2,000 liability 1 year No No
Changhong 2016-027,No.: 2016-031
guaranty
Ridian and No.: 2016-046 on 8,500
Joint
Technology 25 March 2016 and 5
2016-5-5 4,500 liability 1 year No No
Co., Ltd. May 2016
guaranty
HEFEI MEILING CO., LTD. Annual Report 2016
Zhongke Notice No.:
Meiling 2016-027,No.: 2016-031 Joint
Cryogenic and No.: 2016-046 on 2,000 - 0 liability - - -
Technology 25 March 2016 and 5 guaranty
Co., Ltd. May 2016
Total amount of actual
Total amount of approving guarantee for occurred guarantee for
67,000 61,500
subsidiaries in report period (B1) subsidiaries in report period
(B2)
Total balance of actual
Total amount of approved guarantee for
guarantee for subsidiaries at
subsidiaries at the end of reporting 67,000 33,500
the end of reporting period
period (B3)
(B4)
Guarantee of the subsidiaries for the subsidiaries
Complet
Name of the Actual date of Actual e Guarantee
Related Announcement Guarantee Guarantee Guarant
Company happening (Date of guarantee impleme for related
disclosure date limit type ee term
guaranteed signing agreement) limit ntation party
or not
-- -- -- -- -- -- -- -- --
Total amount of actual
Total amount of approving guarantee for occurred guarantee for
-- --
subsidiaries in report period (C1) subsidiaries in report period
(C2)
Total balance of actual
Total amount of approved guarantee for
guarantee for subsidiaries at
subsidiaries at the end of reporting -- --
the end of reporting period
period (C3)
(C4)
Total amount of guarantee of the Company( total of three abovementioned guarantee)
Total amount of actual
Total amount of approving guarantee in
report period (A1+B1+C1) 107,000 occurred guarantee in report 63,393.0881
period (A2+B2+C2)
Total balance of actual
Total amount of approved guarantee at
the end of report period (A3+B3+C3) 107,000 guarantee at the end of 34,779.6881
report period (A4+B4+C4)
Ratio of actrual guarantee (A4+B4+C4) in net assets of the Company 6.83%
Including:
Amount of guarantee for shareholders, actual controller and its related parties(D)
The debts guarantee amount provided for the guaranteed parties whose
assets-liability ratio exceed 70% directly or indirectly(E) 27,000
Proportion of total amount of guarantee in net assets of the Company exceed
50%(F)
Total amount of the aforesaid three guarantees(D+E+F) 27,000
Explanations on possibly bearing joint and several liquidating responsibilities for --
HEFEI MEILING CO., LTD. Annual Report 2016
undue guarantees (if applicable)
Explanations on external guarantee against regulated procedures (if applicable)
Note 1: The guarantee business of Zhongshan Changhong signed the agreement on 27 May
2015, the implementation time is : 29 September 2015 to 29 September 2016.
Note 2: The guarantee business of Zhongshan Changhong signed the agreement on 30
December 2015, the implementation time is : 1 January 2016 to 31 December 2016.
The above guarantees are all wholly-owned and holding subsidiaries of the Company.
Production and operation of these wholly-owned and holding subsidiaries was normal with no
overdue unpaid loans and guarantee risk is controllable. During the reporting period, the highest
level of security the Company provided amounted to 670 million Yuan by the approval, the actual
amount of guarantee is 615 million Yuan. The highest level of security the Company and
subsidiaries provided outside amounted to 400 million Yuan by the approval, the actual amount of
guarantee is 18.930881 million Yuan. At the end of the reporting period, the practical guarantee
balance amounted to 347.796881 million Yuan, accounting for the Company’s latest net assets
ratio of 6.83%.
Explanation on guarantee with composite way
□Applicable √Not applicable
2. Guarantee outside against the regulation
□Applicable √Not applicable
No guarantee outside against the regulation in Period.
(III) Entrust others to cash asset management
1. Trust financing
√Applicable □Not applicable
HEFEI MEILING CO., LTD. Annual Report 2016
In 10 thousand Yuan
Amount of
reserve for
Whether Principal Actual Actual
devaluation
related Trust financing Criteria for fixing actually Anticipated gains/los collected
Name Type Start date End date of
trade or amount reward collected in income ses in gains/losses
withdrawing
not the Period period in period
(if
applicable)
Anhui Branch of Bank Floating
of Communication Co., N proceeds 50,000.00 2015-10-20 2016-1-19 3.9% annual yield 50,000.00 486.16 498.63 498.63
Ltd. products
Floating
Heifei Changjiang East
N proceeds 10,000.00 2016-12-15 2017-4-6 4.3% annual yield - 131.95 - -
Road Branch of ICBC
products
Income of
entrust
Sichuan Trust Co., Ltd. N 35,520.00 2016-12-28 2017-12-5 6.6% annual yield - 2,196.60 - -
products
transfer
Floating
3.65% annual
Hefei Barnch of BEA N proceeds 3,000.00 2016-12-30 2017-3-30 - 27.00 - -
yield
products
Floating
4.00% annual
Anhui Branch of CBC N proceeds 20,000.00 2016-12-20 2017-3-20 - 197.26
yield
products
Floating
Hefei Branch of Huaxia 4.15% annual
N proceeds 30,000.00 2016-12-21 2017-6-22 - 624.21 - -
Bank Co., Ltd. yield
products
HEFEI MEILING CO., LTD. Annual Report 2016
Anhui Branch of Bank
Guaranteed
of Communication Co., N 20,000.00 2016-12-23 2017-3-24 3.5% annual yield - 174.52
income
Ltd.
Floating
Hefei Branch of Huaxia 4.15% annual
N proceeds 20,000.00 2016-12-28 2017-6-29 - 416.14
Bank Co., Ltd. yield
products
Total 188,520.00 -- -- -- 50,000.00 4,253.84 498.63 --
Capital resource Own funds 985.2 million Yuan; raised fund 900 million Yuan
Principal uncollected for overdue and
accumulated earnings
Lawsuit involved (if applicable) Not applicable
Disclosure date for approval from the Board for
18 October 2016 and 26 November 2016
trust financing (if applicable)
Disclosure date for approval from board of
2016-12-14
shareholders for trust financing (if applicable)
Whether has trust financing plan in future Y
HEFEI MEILING CO., LTD. Annual Report 2016
2. Entrust loans
□Applicable√Not applicable
No entrust loans in the period
(iv) Other material contracts
□Applicable√Not applicable
No other material contracts in the period
XVIII. Explanation on other significant events
1. Fulfill the precise social responsibility for poverty alleviation
□Applicable √ Not applicable
2. Performance of precise poverty alleviation social responsibility
The listed Company and its subsidiary whether belongs to the key sewage units released from
enviornmetnal protection department
□Yes √No □Not applicable
Issued social responsibility report
□Yes √No
XIX. Explanation on other significant events
√ Applicable □Not applicable
(i) being deliberated and approved on the 18th session of 8th BOD and First Extraordinary
shareholders meeting of 2016, the Company and subsidiary are agreed to carry forward foreign
exchange fund trading business during 1 July 2016 to 30 July 2017, with balance up to US$ 500
million, delibery period for single business will not last for 2-year. Found more in the Notice (No.:
2016-020, No.: 2016-022 and No.: 2016-037) released on appointed media Securities Times, China
Securities Journal, Hong Kong Commercial Daily and Juchao Website (www.cninfo.com.cn) dated
19 March 2016 and 7 April 2016.
(ii) The resolution of the 19th meeting of the 8th Board of Directors of the company passed
and agreed the company to apply for a special credit line of bank notes pool with a maximum of
300 million Yuan to China Merchants Bank Co., Ltd. Hefei Branch, and the credit term was one
year, the credit variety was mainly used in bank notes pool special business, and adopted bill pledge.
The company has disclosed the details on the designated information disclosure media \"Securities
Times\", \"China Securities Journal\", \"Hong Kong Commercial Daily\" and www.cninfo.com.cn in
forms of announcement (No. 2016-027, No. 2016-034) on March 25, 2016.
(iii) On June 2, 2016, the company held the news conference on \"intelligent space control the
future - Meiling intelligent home eco-circle plan and CHiQ second generation new product\". At this
press conference, the company launched the \"intelligent home eco-circle\" plan, and released the
human-centered CHiQ second-generation refrigerator that can realize space intelligent changes
according to food needs, and CHiQ intelligent air steward that can automatically change air. The
company has disclosed the details on the designated information disclosure media \"Securities
Times\", \"China Securities Journal\", \"Hong Kong Commercial Daily\" and www.cninfo.com.cn in
forms of announcement (No. 2016-050) on June 3, 2016.
(iv) With the approval of ―Reply to approve the non-public offering shares of Hefei Meiling
HEFEI MEILING CO., LTD. Annual Report 2016
Co., Ltd.‖ (\"CSRC License No.[2016]1396\") of China Securities Regulatory, as the company has
successfully issued non-public offering of 280,858,676 shares of RMB ordinary shares (A shares) to
7 specific investors that conform to the related provisions and conditions, including Sichuan
Changhong Electric Co., Ltd. After the completion of this offering, the company‘s registered capital
increases from 736,739,205 Yuan to 1,044,597,881 Yuan.
According to the authorization of the company‘s second extraordinary general meeting in 2015
to the Board of Directors, the resolution of the 26th meeting of the 8th Board of Directors of the
company passed and agreed the company to increase the company‘s registered capital and
correspondingly revise some terms of the \"Articles of Association\" on the basis of the actual results
of this non-public offering of shares according to the relevant laws, regulations and regulatory
documents. Details have been disclosed on the designated information disclosure media \"Securities
Times\", \"China Securities Journal\", \"Hong Kong Commercial Daily\" and www.cninfo.com.cn in
forms of announcement (No. 2016-062, No. 2016-066) on October 18, 2016. The company has
disclosed the full text of revised \"Articles of Association of Hefei Meiling Co., Ltd.\" at
www.cninfo.com.cn on the same day.
(v) The resolutions of the 26th meeting of the 8th Board of Directors of the company and the
second extraordinary general meeting in 2016 passed and agreed the company to use its own
temporarily idle funds of less than 2 billion Yuan (the amount can be scrolled to use) to invest and
purchase steady finance products with time limit within one year from the financial institutions
(banks, securities companies, trust companies, etc.) with high security, good liquidity, and low risk
in the premise of ensuring the fund demands for day-to-day management and operations and
effectively controlling the investment risks, and the investment period is one year (from the date the
deliberation of the company‘s stockholders' meeting passed). The company has disclosed the details
on the designated information disclosure media \"Securities Times\", \"China Securities Journal\",
\"Hong Kong Commercial Daily\" and www.cninfo.com.cn in forms of announcement (No. 2016-062,
No. 2016-067, and No. 2016- 077) on October 18, 2016 and December 14, 2016.
(vi) The resolutions of the 27th meeting of the 8th Board of Directors of the company and the
second extraordinary general meeting in 2016 passed and agreed the company and the subsidiary
Changhong Air Conditioning to continue to provide joint liability guarantee within the credit line of
designated banks for qualified suppliers satisfying certain conditions on condition that the risks are
controllable. The e-bank acceptance opened in this credit line should all be used by dealers to pay
the purchase payment to the Company and the subsidiaries; the total amount of guarantee should
not exceed 400 million Yuan , of which the guarantee amount of the company to dealers shall not
exceed 200 million Yuan , the guarantee amount of Changhong Air Conditioning to its dealers
should be no more than 200 million Yuan , it is subject to the guarantee contract signed by the bank,
and the guarantee period is one year. The company has disclosed the details on the designated
information disclosure media \"Securities Times\", \"China Securities Journal\", \"Hong Kong
Commercial Daily\" and www.cninfo.com.cn in forms of announcement (No. 2016-068, No.
2016-072, and No. 2016- 077) on November 26, 2016 and December 14, 2016.
(vii) The resolutions of the 27th meeting of the 8th Board of Directors of the company and the
second extraordinary general meeting in 2016 passed and agreed the company to apply for
registration of issuing ultra-short- term financing bonds of no more than 2 billion Yuan (including
2 billion Yuan ) to National Association of Financial Market Institutional Investors through financial
institutions so as to further expand the financing channels and reduce the financing costs, and adjust
HEFEI MEILING CO., LTD. Annual Report 2016
the financing structure to meet the company's production and operation and investment needs. The
company has disclosed the details on the designated information disclosure media \"Securities
Times\", \"China Securities Journal\", \"Hong Kong Commercial Daily\" and www.cninfo.com.cn in
forms of announcement (No. 2016-068, No. 2016-073, No. 2016-077) on November 26, 2016 and
December 14, 2016.
XX. Major event of the subsidiary
√ Applicable □Not applicable
According to the resolution of the tenth meeting of the eighth board of directors held on
August 28, 2015, the company's board of directors agreed the subsidiary - Zhongke Meiling
Cryogenics Co., Ltd. to start the restructuring and set up the limited liability company, and apply for
the listing in the National Equities Exchange and Quotations after the overall restructuring. After
being audited and approved by National Equities Exchange and Quotations Co., Ltd., Zhongke
Meiling has been listed in National Equities Exchange and Quotations on February 24, 2016, the
security is referred to as \"Zhongke Meiling\", and the stock code is \"835892.\"
In order to support the development of Zhongke Meiling, establish and improve its long-term
incentive mechanism, supplement the working capital needed for its development, enhance its stock
trading activity and promote the sustainable development of its business operation, the resolution of
the 24th meeting of the 8th Board of Directors of the company passed and the company‘s Board of
Directors agreed Zhongke Meiling to issue no more than 3,150,000 shares (including 3,150,000
shares) to its senior management and core staff, the issuing objects should subscribe in cash, at the
same time, the Company would give up the pre-emption right of this share issuance on equal
conditions. The issue price was intended to be 1.63 Yuan / share on the basis of the net assets
assessed value of Zhongke Meiling up to June 30, 2016, and should issue no more than 3,150,000
shares (including 3,150,000 shares) to its senior management and core staff, the amount of
financing should not exceed 5,134,500 Yuan (including 5,134,500 Yuan ).
Up to now, Zhongke Meiling has successfully completed this private placement work to the
management and core staff, and completed the industrial and commercial change registration work.
Zhongke Meiling finally issued 315 million shares to its senior management and core employees,
with the financing amount of 5,134,500 Yuan. After the completion of this introduction of Zhongke
Meiling, the Company's shareholding ratio in Zhongke Meiling shall reduce from 70% to 66.7645%.
Zhongke Meiling will still be the holding subsidiary of the Company and still included in the
consolidated financial statements of the Company.
Found more in the Notice (No.: 2015-038, No.: 2015-039, No.: 2015-041, No.:2015-050,
No.:2016-006, No.:2016-013, No.: 2016-055 and No.: 2016-056) released on appointed media
Securities Times, China Securities Journal, Hong Kong Commercial Daily and Juchao Website
dated 29 August 2015, 16 September 2016, 3 November 2015 and 30 January 2016, 24 February
2016 and 21 September. Meanwhile, more of the share issuance of Zhongke Meiling can be found
in the (www.neeq.com.cn) NEEQ(National Equities Exchange and Quotatitions) for reference.
(ii) The resolutions of the 19th meeting of the 8th Board of Directors of the company passed
and agreed the subsidiary Zhongshan Changhong Electric Co., Ltd. (hereinafter referred to as
HEFEI MEILING CO., LTD. Annual Report 2016
\"Zhongshan Changhong\") and its partner UAE RUBAGENERALTRADINGFZE company to
jointly increase capital in cash according to the existing shareholding ratio to the joint venture sales
company - Changhong Ruba Trading Company (Private) Limited which was invested and
established by both sides in Pakistan at an earlier stage, the total amount of capital increase is
US$ 6.4 million dollars. The company has disclosed the details on the designated information
disclosure media \"Securities Times\", \"China Securities Journal\", \"Hong Kong Commercial Daily\"
and www.cninfo.com.cn in forms of announcement (No. 2016-027, No. 2016-032) on March 25,
2016.
(iii) The resolutions of the 19th meeting of the 8th Board of Directors of the company passed
and agreed the subsidiary Zhongshan Changhong and Sichuan Changhong Air Conditioning Co.,
Ltd. to jointly invest and establish the subsidiaryCHANGHONG MEILING ELECTRIC
INDONESIA.PT in Indonesia, with the registered capital of US$ 6 million dollars. The company
has disclosed the details on the designated information disclosure media \"Securities Times\", \"China
Securities Journal\", \"Hong Kong Commercial Daily\" and www.cninfo.com.cn in forms of
announcement (No. 2016-027, No. 2016-032) on March 25, 2016.
(iv) The resolutions of the 23rd meeting of the 8th Board of Directors of the company passed
and agreed the company to transfer its 99% stock rights in Mianyang Meiling Software Technology
Co., Ltd. (hereinafter referred to as \"Meiling Software\") to its wholly-owned subsidiary Sichuan
Changhong Air Conditioning Co., Ltd. (hereinafter referred to as \"Changhong Air Conditioning\"),
the equity transferring price is based on the net assets value of Meiling Software up to June 30,
2016, and the equity transferring price is 5,798,619.62 Yuan after confirmed by both sides. After
this transferring, the Company‘s wholly-owned subsidiary Changhong Air Conditioning and
Mianyang Meiling Refrigeration shall totally hold 100% stock rights in Meiling Software. The
company has disclosed the details on the designated information disclosure media \"Securities
Times\", \"China Securities Journal\", \"Hong Kong Commercial Daily\" and www.cninfo.com.cn in
forms of announcement (No. 2016-052) on July 29, 2016.
(v) In order to optimize the company's resource allocation and divest the assets uncorrelated to
the company‘s main business and having low operating efficiency and losses, the resolutions of the
26th meeting of the 8th Board of Directors of the company passed and agreed the company to
publicly transfer its 100% stock rights (thereinto, the company directly holds 48.26% stock rights of
Meiling Packaging, and indirectly holds 51.74% stock rights of Meiling Packaging via the
wholly-owned subsidiary Heifei Meiling Group Holdings Co., Ltd. ) in the subsidiary Heifei
Meiling Packaging Products Co., Ltd. (Hereinafter referred to as \"Meiling Packaging\") at
Southwest United Equity Exchange, the listed price of stock right should be no less than estimated
value of 23,218,900 Yuan of all rights and interests of shareholders in Meiling
Packaging(assessment date is July 31, 2016). On December 28, 2016, according to the listing
results, Hefei Qige Packaging Materials Co., Ltd. (hereinafter referred to as \"Qige Packaging\") has
the intention transferee qualification and is eventually transferred the aforementioned stock rights
with 23,880,000 Yuan .
On 19 January 2017, the equity transfer completed its changes in industry and commerce
bureau, after ownership transfer, no shares of Hefei Meiling Package Products Co., Ltd. are held by
the Company.
HEFEI MEILING CO., LTD. Annual Report 2016
Found more in the Notice (No.: 2016-062, No.: 2016-065, No.: 2016-075 and No.: 2016-081)
released on appointed media Securities Times, China Securities Journal, Hong Kong Commercial
Daily and Juchao Website dated 18 October 201
(vi) The resolutions of the 27th meeting of the 8th Board of Directors of the company passed
and agreed the company‘s subsidiary HongYuan Earth Energy Heat Pump Technology Co., Ltd.
(Hereinafter referred to as the \"Heat Pump Company\") to set up HongYuan Earth Energy Heat
Pump Technology Co., Ltd. Guangdong Branch (tentative name, ultimately subject to the industrial
and commercial registration) in Nantou Town, Zhongshan City, Guangdong Province, and take this
subsidiary as the project implementation subject, invest 14,972,000 Yuan to build product base for
earth energy heat pump products to promote the production capacity of Heat Pump Company and
effectively meet the market demands. The company has disclosed the details on the designated
information disclosure media \"Securities Times\", \"China Securities Journal\", \"Hong Kong
Commercial Daily\" and www.cninfo.com.cn in forms of announcement (No. 2016-068) on
November 26, 2016.
(vii) The resolutions of the 27th meeting of the 8th Board of Directors of the company passed
and agreed the company‘s subsidiary Zhongshan Changhong Electric Co., Ltd. (Hereinafter referred
to as \"Zhongshan Changhong\") to invest one million Yuan to set up a wholly-owned trading-type
subsidiary Zhongshan Changhong Trading Co., Ltd. (tentative name, ultimately subject to the
industrial and commercial registration) to engage in product import and export trading business.
The company has disclosed the details on the designated information disclosure media \"Securities
Times\", \"China Securities Journal\", \"Hong Kong Commercial Daily\" and www.cninfo.com.cn in
forms of announcement (No. 2016-068) on November 26, 2016.
(viii) The resolutions of the 27th meeting of the 8th Board of Directors of the company passed
and agreed the company‘s subsidiary Guangdong Changhong Ridian Technology Co., Ltd.
(Hereinafter referred to as \"Ridian Company\") to invest RMB 1 million Yuan in Zhongshan,
Guangdong to set up a wholly-owned trading-type subsidiary Zhongshan Hongling Trading Co.,
Ltd. (tentative name, ultimately subject to the industrial and commercial registration) to engage in
product import and export trading business. The company has disclosed the details on the
designated information disclosure media \"Securities Times\", \"China Securities Journal\", \"Hong
Kong Commercial Daily\" and www.cninfo.com.cn in forms of announcement (No. 2016-068) on
November 26, 2016.
(ix) The resolutions of the 27th meeting of the 8th Board of Directors of the company passed
and agreed the company‘s subsidiary Sichuan Changhong Air Conditioning Co., Ltd. (Hereinafter
referred to as \"Changhong Air Conditioning \") to invest about 22,886,000 Yuan to make technical
transformation of capacity expansion. The company has disclosed the details on the designated
information disclosure media \"Securities Times\", \"China Securities Journal\", \"Hong Kong
Commercial Daily\" and www.cninfo.com.cn in forms of announcement (No. 2016-068) on
November 26, 2016.
(x) As the original leasing plant of the company‘s subsidiary Mianyang Meiling Refrigeration
Co., Ltd. (hereinafter referred to as \"Mianyang Meiling\") has been collected and stored by the
government, the resolutions of the 27th meeting of the 8th Board of Directors of the company
passed and agreed Mianyang Meiling to rent plant for removal and invest 52,920,000 Yuan
HEFEI MEILING CO., LTD. Annual Report 2016
(excluding rental costs) to build a new environmentally friendly energy-saving refrigerator
production line expansion project. After going into operation, the project will form the production
capacity of 800,000 new environmentally friendly energy-saving refrigerators. The company has
disclosed the details on the designated information disclosure media \"Securities Times\", \"China
Securities Journal\", \"Hong Kong Commercial Daily\" and www.cninfo.com.cn in forms of
announcement (No. 2016-068) on November 26, 2016.
(xi) In order to ensure the orderly promotion of \"Intelligent Life\" project which is one of the
company's non-public offering funds investment projects in 2016, the resolution of the 15th meeting
of the 8th Board of Directors of the company passed and agreed the company to invest and build
Changmei Science and Technology Co., Ltd. (hereinafter referred to as \"Changmei Technology\"),
its registered capital is 50 million Yuan , of which the Company plans to invest 45 million Yuan in
cash, accounting for 90% of the registered capital, the management team of Changmei Technology
invests 5 million Yuan in cash, accounting for 10% of the registered capital. The Company and
Changmei Technology management team shall respectively pay 40% of the amount of the
subscribed capital within 30 days from the date of the establishment of the new company, and the
remaining amount shall be paid within 3 years from the date of establishment of the new company.
Due to the job transfer of some non-core staff in Changmei Technology resulting in the
corresponding subscribed capital unpaid, in order to ensure the smooth implementation of the
company's investment project, the resolution of the 27th meeting of the company‘s 8th board of
directors passed and agreed the company to transfer the subscribed capital unpaid by some non-core
staff in Changmei Technology by its own funds, i.e. 2.64% stock rights of Changmei Technology
(1.32 million Yuan in total). After this transfer of stock rights, the company‘s subscribed capital
becomes 46.32 million Yuan, accounting for 92.64% of the stock rights, the management team
totally pays subscribed capital of 3.68 million Yuan , accounting for 7.36% of the stock rights.
Found more in the Notice (No.: 2016-002 and No.: 2016-068) released on appointed media
Securities Times, China Securities Journal, Hong Kong Commercial Daily and Juchao Website
dated 8 January 2016 and 26 November .
HEFEI MEILING CO., LTD. Annual Report 2016
Section VI. Changes in Shares and Particulars about Shareholders
I. Changes in Share Capital
(I) Changes in Share Capital
In Share
Before the Change Increase/Decrease in the Change (+, -) After the Change
Capitali
New shares Bonus zation of Proporti
Amount Proportion Others Subtotal Amount
issued shares public on
reserve
I. Restricted shares 9,965,170 1.30% 280,858,676 0 0 -522,100 280,336,576 290,301,746 27.79%
1. State-owned
0 0.00% 0 0 0 0 0 0 0.00%
shares
2. State-owned legal
915,987 0.12% 69,877,638 0 0 0 69,877,638 70,793,625 6.78%
person‘s shares
3. Other domestic
8,049,334 1.05% 210,981,038 0 0 -522,100 210,458,938 218,508,272 20.92%
shares
Including: Domestic
4,839,035 0.63% 210,981,038 0 0 0 210,981,038 215,820,073 20.66%
legal person‘s shares
Domestic natural
3,210,299 0.42% 0 0 0 -522,100 -522,100 2,688,199 0.26%
person‘s shares
4. Foreign shares 999,849 0.13% 0 0 0 0 0 999,849 0.09%
Including: Foreign
0 0.00% 0 0 0 0 0 0 0.00%
legal person‘s shares
Foreign natural
999,849 0.13% 0 0 0 0 0 999,849 0.09%
person‘s shares
II. Unrestricted
753,774,035 98.70% 0 0 0 522,100 522,100 754,296,135 72.21%
shares
1. RMB Ordinary
591,909,884 77.50% 0 0 0 522,100 522,100 592,431,984 56.71%
shares
2. Domestically
161,864,151 21.20% 0 0 0 0 0 161,864,151 15.50%
listed foreign shares
3. Overseas listed
0 0.00% 0 0 0 0 0 0 0.00%
foreign shares
4. Others 0 0.00% 0 0 0 0 0 0 0.00%
III. Total shares 763,739,205 100.00% 280,858,676 0 0 0 280,858,676 1,044,597,881 100.00%
(II) Reasons for share changed
√ Applicable □ Not applicable
HEFEI MEILING CO., LTD. Annual Report 2016
1. In reporting period, after six months since former senior executive Mr. Deng Xiaohui leaved,
the shares of Mr. Deng 522,100 shares are release for trading.
2. Being approved by the Reply on Private Placement of Hefei Meiling Co., Ltd. (CSRC XK
[2016] No.1396) issued from CSRC, the Company completed the private placement of 2016 in the
Period. According to the placement results, 280,858,676 shares (A-stock) issued privately to 7
investors with price of 5.59 Yuan/Share, which have restricted for trading.
(III) Approval of share changed
√Applicable □Not applicable
Being approved by the Reply on Private Placement of Hefei Meiling Co., Ltd. (CSRC XK
[2016] No.1396) issued from CSRC, the Company successfully offering 280,858,676 shares
(A-stock) to 7 qualified investors, including Sichuan Changhong Electric Co., Ltd., with price of
5.59 Yuan/Share.
(IV) Ownership transfer of share changed
□Applicable √Not applicable
(V) Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets
per share attributable to common shareholders of Company in latest year and period
□ Applicable √ Not applicable
(VI) Other information necessary to disclose for the Company or need to disclosed under
requirement from security regulators
□ Applicable √ Not applicable
(VII) Changes of restricted shares
√ Applicable □ Not applicable
HEFEI MEILING CO., LTD. Annual Report 2016
In Share
Restricted
Shares
Opening Shares Ending
Increased
Shareholders shares released in shares Restricted reasons Date for released
In
restricted Period restricted
the
Period
On 6 August 2015, he is no
longer the deputy president
of the Company because of
occupation mobility
meanwhile; lift the
Share lockup in senior
Deng Xiaohui 522,100 522,100 0 0 restricted 6 months after
executives
demission. other restricted
conditions found more in
―III. Implementation of
commitments‖ in ―Section
V. Important Event‖
Sichuan Changhong Electric Co., Ltd. 0 0 69,877,638 69,877,638 Lock up for private placement 2019-10-15
Ping An Bank – Ping An UOB Dingtai Fexible Mix Stock Investment Fund Ping An
0 0 12,522,361 12,522,361 Lock up for private placement 2017-10-15
Bank Co., Ltd.-
Ping An UOB-Ping An Bank-Guohai Securities Co., Ltd. 0 0 12,522,361 12,522,361 Lock up for private placement 2017-10-15
Collective fund trust scheme
0 0 23,613,595 23,613,595 Lock up for private placement 2017-10-15
Golden Ergle- SPD-U Trust-U Trust JinYue No.4 Collected Asset Trust Plan
National Social Security Funds-504 0 0 9,838,998 9,838,998 Lock up for private placement 2017-10-15
Harvest Fund- Ping An Bank- Huaxia Asset Management Co., Ltd. 0 0 9,838,998 9,838,998 Lock up for private placement 2017-10-15
Harvest Fund－ABC－ABC-CA Fund Management (Shanghai) Co., Ltd. 0 0 8,050,089 8,050,089 Lock up for private placement 2017-10-15
HEFEI MEILING CO., LTD. Annual Report 2016
Harvest Fund－Industrial Bank－Shanghai Xinghan Asset Management Co., Ltd. 0 0 8,050,090 8,050,090 Lock up for private placement 2017-10-15
Ping An Annuity Insurance Company of China, Ltd. – Ping An Pension Ruifu private
0 0 23,613,595 23,613,595 Lock up for private placement 2017-10-15
placement No.1 Assest Management Products
Rongtong Fund－Guangzhou Rural Commercial bank －Wanlian Securiteis Co., Ltd. 0 0 5,879,549 5,879,549 Lock up for private placement 2017-10-15
Rongtong Fund－Ningbo Bank －Universal Trust Co., Ltd. 0 0 293,977 293,977 Lock up for private placement 2017-10-15
Rongtong Fund－CBC－Rongtong Rongyi No. 1 private placementserial special
0 0 940,729 940,729 Lock up for private placement 2017-10-15
(multiple) clients Asset Management Plan
Rongtong Fund－CBC－Rongtong Rongyi No. 2 private placement serial special
0 0 235,181 235,181 Lock up for private placement 2017-10-15
(multiple) clients Asset Management Plan
Rongtong Fund－CBC－Rongtong Rongyi No. 3 private placementserial special
0 0 411,569 411,569 Lock up for private placement 2017-10-15
(multiple) clients Asset Management Plan
Caitong Fund－ICBC－China Foreign Economic Relations and Trade Trust －Foreign
0 0 3,577,817 3,577,817 Lock up for private placement 2017-10-15
Trade TrustHengsheng Private Placement Investment Collective fund trust scheme
Caitong Fund－ICBC－Fuchunprivate placementZengliNo.13 Asset Management
0 0 536,673 536,673 Lock up for private placement 2017-10-15
Plan
Caitong Fund－ICBC－China Construction Investment Trust－Yongquan No.25
0 0 536,673 536,673 Lock up for private placement 2017-10-15
（Caitongprivate placement No.1）Collective fund trust scheme
Caitong Fund－ICBC－Yueda Jiquan private placement No.3 Asset Management Plan 0 0 322,003 322,003 Lock up for private placement 2017-10-15
Caitong Fund－ICBC－FuchunYuantong private placement No.6 Asset Management
0 0 536,673 536,673 Lock up for private placement 2017-10-15
Plan
Caitong Fund－ICBC－Fuchunprivate placementBoli No.8 Asset Management Plan 0 0 536,673 536,673 Lock up for private placement 2017-10-15
Caitong Fund－ICBC－Fuchunprivate placementBoli No.12 Asset Management Plan 0 0 357,782 357,782 Lock up for private placement 2017-10-15
Caitong Fund－ICBC－Caitongprivate placement No.16 Asset Management Plan 0 0 357,782 357,782 Lock up for private placement 2017-10-15
Caitong Fund－ICBC－Fuchunprivate placementBoli No.13 Asset Management Plan 0 0 5,366,726 5,366,726 Lock up for private placement 2017-10-15
HEFEI MEILING CO., LTD. Annual Report 2016
Caitong Fund－ICBC－Fuchunprivate placement No.1033 Asset Management Plan 0 0 536,673 536,673 Lock up for private placement 2017-10-15
Caitong Fund－ICBC－Fuchunprivate placementBoli No.17 Asset Management Plan 0 0 2,862,254 2,862,254 Lock up for private placement 2017-10-15
Caitong Fund－ICBC－Fuchunprivate placementBoli No.18 Asset Management Plan 0 0 894,454 894,454 Lock up for private placement 2017-10-15
Caitong Fund－ICBC－Fuchunprivate placementBoli No.21 Asset Management Plan 0 0 4,472,272 4,472,272 Lock up for private placement 2017-10-15
Caitong Fund－ICBC－private placementEverbright ZengyiNo.1 Asset Management
0 0 1,431,127 1,431,127 Lock up for private placement 2017-10-15
Plan
Caitong Fund－ICBC－Fuchunprivate placement No.1028 Asset Management Plan 0 0 178,891 178,891 Lock up for private placement 2017-10-15
Caitong Fund－ICBC－Fuchunprivate placement No.1101 Asset Management Plan 0 0 1,788,909 1,788,909 Lock up for private placement 2017-10-15
Caitong Fund－ICBC－Hengzeng Xinxiang No.8 Asset Management Plan 0 0 393,560 393,560 Lock up for private placement 2017-10-15
Caitong Fund－ICBC－Fuchunprivate placement No.729 Asset Management Plan 0 0 447,227 447,227 Lock up for private placement 2017-10-15
Caitong Fund－ICBC－Shanghai Chamrich Equity Investment Fund Management Co.,
0 0 894,454 894,454 Lock up for private pl
