虹美菱B：2025年年度报告（英文版）

Annual Report 2025 Section I Important Notice, Contents and Interpretation Board of directors, all directors and senior executives of Changhong Meiling Co., Ltd.(hereinafter referred to as the Company) hereby confirm that there are no any fictitious statements,misleadingstatements,or important omissions carried in this report,and shall take allresponsibilities, individual and/or joint, for the reality, accuracy and completion of the wholecontents. Mr. Li Xiaodong, Chairman of the Company, Mr. Yang Bing, person in charge of accountingwork and Mr. Hu Xiangfei, person in charge of accounting organ (accountant in charge) herebyconfirm that the Financial Report of 2025 Annual Report is authentic, accurate and complete. The Company did not have directors and senior executives of the Company could notguarantee the reality, accuracy and completion of the whole contents or have objections. All the directors attended the board meeting to deliberating the Report. Modified audit opinions notes □ Applicable √ Not applicable Pan-China Certified Public Accountants LLP issued a standard unqualified audit opinion forthe Company’s 2025 annual financial report. Significant internal control deficiency notes □ Applicable √ Not applicable During the reporting period, the Company had no significant internal control deficiencies. Risk warning of concerning the forward-looking statements with future planning involved inthe annual report √ Applicable □ Not applicable Concerning the forward-looking statements with future planning involved in the Report, theydo not constitute a substantial commitment for investors, investors and the person concernedshould maintain adequate risk awareness, furthermore, differences between the plans, forecast andcommitments should be comprehended. Investors are advised to exercise caution of investmentrisks. Investors are advised to read the full text of the annual report, and pay particular attention tothe following risk factors: More details about the possible risks and countermeasures in the operation of the Companyare described in the Report “XI. Outlook for the Company’s Future Development” of “Section III Management Discussion and Analysis”. Investors are advised to read the relevant content. Securities Times, China Securities Journal and Juchao Website (www.cninfo.com.cn) are themedia for information disclosure for year of 2026 that appointed by the Company. All publicinformation under the name of the Company disclosed on the above said media and website shallprevail, and investors are advised to exercise caution. Does the Company need to comply with disclosure requirements of the special industry: No Profit distribution pre-plan or capital reserve capitalization pre-plan deliberated by the boardof directors in the reporting period √ Applicable □ Not applicable Is the statutory reserve capitalized into share capital? □ Yes √ No The profit distribution proposal approved by the 28th meeting of the 11th Board of Directorsis as follows: Based on the total share capital of the Company, which is1,029,923,715shares, lessthe number of shares held in the dedicated securities account for share repurchase, a cash dividendof RMB2.10(including tax) will be distributed to all shareholders for every 10 shares.No bonusshares will be issued, and no capital reserves will be converted into share capital. As of the end of the reporting period, the parent company had unabsorbed losses.□ Applicable √ Not applicable Contents Section I Important Notice, Contents and Interpretation............................................................................2Section II Company Profile and Main Financial Indexes............................................................................8Section III Management Discussion & Analysis.........................................................................................15Section IV Corporate Governance, Environmental and Social Responsibility........................................57Section V Important Events..........................................................................................................................92Section VI Changes in Shares and Shareholders......................................................................................184Section VII Bond Related Situation...........................................................................................................195Section VIII Financial reporting................................................................................................................196 Documents Available for Reference I. Financial statement carrying the signatures and seals of the Chairman, principal of theaccounting works and person in charge of accounting organ; II. The original audit report stamped by the accounting firm and signed and stamped by thecertified public accountant. III. Original documents of the Company and manuscripts of public notices that disclosed inthe website d