Changhong Meiling Co., Ltd.

Changhong Meiling Co., Ltd. is a prominent electrical appliance manufacturer in China, listed on the Shenzhen Stock Exchange since 1993. The company operates four domestic manufacturing bases located in Hefei, Mianyang, Jingdezhen, and Zhongshan, along with overseas facilities in countries such as Indonesia. Over its more than 40 years of development, Changhong Meiling has expanded its product offerings from a single refrigerator line to a diverse range of appliances, including air conditioners, washing machines, major kitchen appliances, small home appliances, and biomedical cryogenic storage equipment. The company's business strategy focuses on technological innovation and product development, supported by a robust R&D team and advanced manufacturing capabilities. Changhong Meiling emphasizes a comprehensive innovation system that integrates sales, research, production, and supply chain management. The company aims to enhance brand recognition and loyalty through targeted marketing initiatives and a commitment to quality, ensuring its position as a leader in the electrical machinery and equipment manufacturing industry in China.

(I) Brand influence The Company is one of the well-known electrical appliance manufacturers in China, with a comprehensive industrial portfolio covering refrigerators, freezers, air conditioners, washing machines, major kitchen appliances, small home appliances, and biomedical equipment. In 2025, the Company continues to implement its "Brand Revitalization" strategy, adhering to the brand proposition of "Beautiful China, Fresh Meiling," while focusing on its development strategy of "Product Strength Drives Brand Power", thus achieving the dual-engine drive of brand elevation and product innovation. By developing the freshest products, it will aim to plant the seed of "freshness" in consumers' minds, mold the brand association of "Meiling = Fresh" in consumers' mind, enhance brand awareness, reputation and loyalty, and fulfill the brand mission of "Meiling, Bringing Goodness to Life". The Company enhances brand promotion, expands brand communication channels, innovates brand marketing methods, and upgrades the quality of brand operation content. It implements targeted brand advertising in subways, light rails and airports to enhance brand awareness, conducts nationwide agricultural support initiatives through social welfare programs to boost brand reputation, comprehensively upgrades content operations and precision marketing capabilities by deeply deploying localized lifestyle services on Douyin and executing multi-dimensional advertising/content seeding on Xiaohongshu, ultimately achieving effective improvement in brand awareness, reputation and loyalty through refined operations and high-efficiency reach across its new media matrix. (II) Product Capability The Company has built a whole-chain innovation system of "Technical route + Product route + Promotion route", and created a "Three-in-one" strategic layout, driving industrial development with technological innovation. It has established an integrated collaborative mechanism for the entire chain of "sales, research, production, and supply", which enhances the success rate of product launch and the value contribution within the product lifecycle through team collaboration at various stages. By optimizing inefficient SKUs and reallocating channel and retail resources, the Company focuses on developing blockbuster products to improve SKU efficiency. (III) Operational capability The Company continues to improve its operational management system guided by strategy and centered on value creation, and effectively drives the achievement of business objectives and quality improvement through deep linkage of objective management, value chain collaboration, comprehensive budget and performance management. In terms of objective management, the Company strictly aligns with strategic and business policies, establishing a closed-loop mechanism of "target setting-process monitoring-deviation correction-result evaluation" following SMART principles to drive continuous improvement in operational quality; In terms of value chain management, it clarifies authority-responsibility-benefit boundaries across business units to fully activate internal vitality while strengthening collaboration throughout the industrial chain, building an integrated, efficient operating mechanism with aligned objectives, streamlined processes, and co-created value; In terms of budget management, it implements comprehensive closed-loop control throughout the budgeting process, adopting dynamic budget adjustments and rolling forecast mechanisms to provide precise, timely financial support and decision-making basis for resource allocation optimization, risk prevention, and strategic goal achievement; In terms of performance management, it advances whole-process performance application, enhances communication and feedback mechanisms to effectively align employee growth with corporate development, fully stimulate value creation momentum, and drive business unit performance fulfillment. (IV) Marketing capability In the domestic market, the Company continuously enhances its sales network and service systems to provide premium customer service, driving scalable expansion through four strategic pillars of "innovative super-product development, precision channel operations, tiered regional upgrades, and focused brand-building". In terms of products, the Company focuses on introducing differentiated trend products, amplifying product mindshare through integrated online-offline campaigns to promote premium offerings. In terms of channels, it adheres to a tiered high-quality operation approach, increasing investment in high-potential channels to scale up business, consolidating existing channel foundations, and strategically developing emerging channels. In terms of market, it implements a user-oriented approach, strengthening brand building and content operations. In terms of organization, it resolutely drives marketing transformation and accelerates new retail capability enhancement. In the overseas market, for B2B business, the Company focuses on "customer-centered, market-oriented" principles to continuously strengthen internal capabilities. Aligning with international business characteristics, it accelerates digital deployment while enhancing critical service support competencies in quality, delivery, samples, parts and certification. The Company's B2C business focuses on key strategic home markets, strengthens industrial synergy, and builds robust core channels, while enhancing brand building through both offline terminals and online new media platforms. In terms of operation, the Company deepens its "production-to-inventory" strategy in operations to enhance turnover and operational efficiency, increases the CIF ratio while developing diversified logistics solutions including sea-rail intermodal transport, and strengthens international shipping capabilities across product lines; In terms of products, it maintains differentiated positioning for mainstream products, optimizes its portfolio by expanding peripheral offerings in core laundry and refrigeration sectors, and launching new products such as dryers; In terms of management, it implements a project-based approach, forming cross-functional teams for both mature and emerging markets, integrating strategic insights, competitive analysis, internal initiatives, value chain optimization, and information alignment to build an agile market-responsive mechanism.