证券代码：000521、200521 证券简称：长虹美菱、虹美菱Ｂ 公告编号：2025-092 长虹美菱股份有限公司 关于召开 2025 年第三次临时股东会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 经长虹美菱股份有限公司（以下简称"公司"或"本公司"）第十一届董事 会第二十四次会议审议通过,公司决定于2025年12月16日召开2025年第三次临时 股东会。现将会议的有关事项公告如下： 一、召开会议的基本情况 1.股东会届次：2025年第三次临时股东会。 2.会议召集人：公司董事会。公司第十一届董事会第二十四次会议于11月27 日召开，审议通过了《关于召开2025年第三次临时股东会的议案》。 3.会议召开的合法、合规性：本次股东会的召开程序符合《中华人民共和国 公司法》《上市公司股东会规则》等法律、法规、规范性文件及《公司章程》的 相关规定。 4.会议召开时间： （1）现场会议召开时间：2025年12月16日（星期二）下午13:30开始 （2）网络投票时间为： 通过深圳证券交易所交易系统进行网络投票的具体时间为：2025年12月16 日上午9:15 ...

证券代码：000521、200521 证券简称：长虹美菱、虹美菱Ｂ 公告编号：2025-083 长虹美菱股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 1.长虹美菱股份有限公司（以下简称"公司"或"本公司"）第十一届董事 会第二十四次会议通知于 2025 年 11 月 25 日以电子邮件方式送达全体董事。 2.会议于 2025 年 11 月 27 日以通讯会议方式召开。 3.会议应出席董事 8 名，实际出席董事 8 名。 4.会议由董事长吴定刚先生主持，董事赵其林先生、易素琴女士、程平先生、 方炜先生、牟文女士、洪远嘉先生、程文龙先生出席了本次董事会。 5.本次会议的召开符合《公司法》及《公司章程》等有关规定。 二、董事会会议审议情况 1.审议通过《关于补选公司第十一届董事会非独立董事的议案》 公司董事钟明先生由于工作变动原因，于近日向董事会提交了书面辞职报告， 辞去其担任的公司第十一届董事会董事、战略委员会委员、提名委员会委员、ESG 管理委员会委员的职务，辞职后其不再在公司担任任何职务。 第十一届董事会第二十四次会议决 ...

Core Viewpoint - Changhong Meiling (000521.SZ) announced plans to invest up to 8.2 billion yuan in low-risk, high-liquidity bank wealth management products with a maturity of one year, aiming to enhance fund efficiency and returns [1] Investment Details - The investment will utilize the company's idle funds, excluding those from its subsidiary Zhongke Meiling and its subsidiaries [1] - The authorization for this investment is valid for one year from the date of approval by the shareholders' meeting [1] Financial Impact - The investment is not expected to affect the company's daily operational funds, ensuring that normal business activities remain unaffected [1] - The move is intended to improve the efficiency and yield of the company's capital [1]

Core Viewpoint - The company announced that its wholly-owned subsidiary, Sichuan Changhong Air Conditioning Co., Ltd., plans to implement a technological transformation project with self-raised funds of 12.5784 million yuan [1] Group 1: Project Details - The project was approved during the 24th meeting of the 11th Board of Directors held on November 27, 2025 [1] - The expected construction period for the project is 5 months [1] - The main focus of the project is to self-manufacture air conditioning pipeline accessories and optimize production processes [1] Group 2: Expected Outcomes - The project aims to optimize production processes, enhance manufacturing capabilities, and improve product competitiveness [1]

Market Overview - The white goods sector experienced a slight increase of 0.03% on November 28, with Shenzhen Konka A leading the gains [1] - The Shanghai Composite Index closed at 3888.6, up by 0.34%, while the Shenzhen Component Index closed at 12984.08, up by 0.85% [1] Stock Performance - Shenzhen Konka A (000016) closed at 5.20, with a rise of 1.76% and a trading volume of 254,400 shares [1] - Midea Group (000333) saw a minor increase of 0.08%, closing at 79.86 with a trading volume of 181,300 shares [1] - Gree Electric (000651) and Haier Smart Home (600690) had minimal increases of 0.07% and a slight decrease of 0.04%, respectively [1] - TCL Smart Home (002668) and Aucma (600336) experienced declines of 0.83% and 2.15% [1] Capital Flow - The white goods sector saw a net inflow of 236 million yuan from institutional investors, while retail investors experienced a net outflow of 154 million yuan [1] - Midea Group had a significant net inflow of 2.43 billion yuan from institutional investors, despite a net outflow of 934.17 million yuan from retail investors [2] - Gree Electric recorded a net inflow of 67.54 million yuan from institutional investors, with a minor outflow from retail investors [2] - Haier Smart Home had a mixed capital flow, with a net inflow of 27.39 million yuan from institutional investors but a significant outflow from retail investors [2]

Summary of Changhong Meiling Conference Call Industry Overview - The home appliance industry is facing increased sales pressure due to the gradual reduction of subsidies starting from Q3 2025, with a complete cancellation expected in Q4 2025. This has posed challenges for air conditioners, refrigerators, and washing machines [2][3][4] Company Performance - In Q4 2025, overall performance was subpar, with significant pressure on domestic sales due to high comparison bases from the previous year when subsidies were at their peak [3][4] - For external sales, refrigerators and washing machines are projected to maintain a growth rate of 10% to 20% for the year, but growth is slowing in Q4, stabilizing overall [2][3] - Air conditioning sales are primarily driven by orders and production concentrated in Q3 and Q4 of the previous year [3] Strategic Focus - Changhong Meiling adheres to a "profitable scale growth" strategy, emphasizing both scale and profit amidst fierce price competition [2][5] - The company is focused on resource integration and centralized procurement to reduce costs, with plans to enhance product line collaboration to unlock more potential [2][7] Market Dynamics - The impact of Xiaomi's self-built factories on Changhong Meiling is expected to be limited, with stable order expectations for the following year [2][6] - The overseas market for washing and refrigeration products is primarily in Europe (over 30% of revenue), with other regions like Africa and the Middle East contributing around 10% each [2][8] Production Capacity and Investment - Changhong Meiling plans to build new production lines to increase overseas air conditioning output due to insufficient capacity [3][11] - A new production line is being established in Mianyang to supplement the Hefei factory's annual capacity by 2 million units for washing machines [12] - A new base for large-capacity refrigerators is planned to meet overseas market demand [12] Product Development - High-end products, such as the M series, currently have a low market share but are gradually increasing. The company is introducing new products with enhanced preservation features [13] - Future investments will focus on health technology and innovation to improve the mid-to-high-end product structure [13] Challenges and Future Directions - The company faces challenges in both domestic and international markets but remains committed to developing its white goods matrix [17] - Future strategies include increasing R&D investment, enhancing brand recognition through industrial and channel collaboration, and steadily advancing market development to provide better returns for investors [17]

网络投票时间为：2025年11月24日，其中，通过深圳证券交易所交易系统进 行网络投票的具体时间为2025年11月24日上午9:15—9:25，9:30—11:30，下午 13:00—15:00；通过深圳证券交易所互联网投票系统进行网络投票的具体时间为 2025年11月24日上午9:15至下午15:00期间的任意时间。 证券代码：000521、200521 证券简称：长虹美菱、虹美菱Ｂ 公告编号：2025-082 长虹美菱股份有限公司 2.现场会议召开地点：合肥市经济技术开发区莲花路 2163 号行政中心一号 会议室。 3.会议召开方式：现场表决与网络投票相结合的方式。 2025 年第二次临时股东会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示:长虹美菱股份有限公司（以下简称"公司"或"本公司"）2025 年第二次临时股东会通知及提示性公告已于 2025 年 11 月 6 日、2025 年 11 月 15 日在《证券时报》《中国证券报》及巨潮资讯网（http://www.cninfo.com.cn） 进行了公告（公告编号：2025-080 ...

根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 股东会规则》等法律法规和其他规范性文件的要求，安徽承义律师事务所 接受长虹美菱股份有限公司（以下简称"长虹美菱"）的委托，指派胡国 杰、欧林玉律师（以下简称"本律师"）就长虹美菱召开 2025 年第二次临 时股东会（以下简称"本次股东会"）出具法律意见书。 一、本次股东会召集人资格和召集、召开的程序 经核查，本次股东会是由长虹美菱第十一届董事会召集，会议通知已 于 2025 年 11 月 6 日刊登在中国证监会指定的信息披露报刊《证券时报》 《中国证券报》、巨潮资讯网和深圳证券交易所网站上。本次股东会已按 公告的要求如期召开。本次股东会的召集人资格和召集、召开程序符合法 律、法规、规范性文件和公司章程的规定。 安徽承义律师事务所 关于长虹美菱股份有限公司 召开 2025 年第二次临时股东会的法律意见书 承义证字〔2025〕第 00150 号 致：长虹美菱股份有限公司 二、本次股东会出席人员的资格 经核查，出席本次股东会的长虹美菱股东和授权委托代表共 486 名， 持有长虹美菱 406,391,325 股，均为截至 2025 年 11 月 14 日 ...

Core Insights - The Chinese whole-home smart industry is experiencing a growth trend in revenue, with a projected revenue of 211.85 billion in 2024, reflecting a growth rate of 10.6% [1] - The industry's sales gross margin shows a fluctuating trend, peaking at 34.8% in 2023 before declining to 33.5% in 2024 [2] - Inventory turnover rates are on a downward trend, decreasing from 5.14 times in 2020 to 4.64 times in 2024, attributed to changing consumer demands and rapid product updates [6] - Accounts receivable turnover rates have also shown a declining trend, from 17.53 times in 2020 to 15.23 times in 2024, indicating increasing management pressure [9] - The asset-liability ratio has fluctuated, decreasing to a low of 42.1% in 2022, then rising to 44.4% in the first half of 2025, reflecting dynamic adjustments in capital structure [11] Revenue Trends - The average revenue of representative companies in the Chinese whole-home smart industry is expected to grow significantly, reaching 211.85 billion in 2024, with a notable increase in the first half of 2025 at 116.69 billion [1] Profitability Analysis - The sales gross margin for the industry has shown volatility, starting at 33.9% in 2020, dropping to 32.2% in 2021, and then rising to 34.8% in 2023 before falling to 33.5% in 2024 [2] Inventory Management - The inventory turnover rate has decreased from 5.14 times in 2020 to 4.64 times in 2024, influenced by diverse consumer preferences and concerns over product depreciation [6] Accounts Receivable Management - The accounts receivable turnover rate has declined from 17.53 times in 2020 to 15.23 times in 2024, reflecting increased challenges in managing receivables [9] Capital Structure - The asset-liability ratio has shown a downward trend to 42.1% in 2022, followed by a rise to 44.4% in the first half of 2025, indicating changes in the industry's capital structure [11]

Market Overview - The white goods sector increased by 0.54% on November 21, with Midea Group leading the gains [1] - The Shanghai Composite Index closed at 3834.89, down 2.45%, while the Shenzhen Component Index closed at 12538.07, down 3.41% [1] Stock Performance - Midea Group closed at 78.75, up 1.04% with a trading volume of 439,500 shares and a transaction value of 3.443 billion yuan [1] - Haier Smart Home closed at 27.02, up 0.86% with a trading volume of 528,300 shares and a transaction value of 1.427 billion yuan [1] - Gree Electric Appliances closed at 40.25, down 0.25% with a trading volume of 550,900 shares and a transaction value of 2.218 billion yuan [1] - Hisense Home Appliances closed at 26.04, down 0.80% with a trading volume of 99,600 shares and a transaction value of 261 million yuan [1] - TCL Smart Home closed at 10.50, down 1.04% with a trading volume of 143,300 shares and a transaction value of 152 million yuan [1] - Aucma closed at 7.43, down 1.33% with a trading volume of 213,100 shares and a transaction value of 159 million yuan [1] - Whirlpool closed at 9.83, down 3.06% with a trading volume of 29,200 shares and a transaction value of 29.104 million yuan [1] - Deep Kangjia A closed at 5.03, down 3.08% with a trading volume of 352,600 shares and a transaction value of 179 million yuan [1] - Changhong Meiling closed at 6.67, down 3.19% with a trading volume of 146,500 shares and a transaction value of 98.744 million yuan [1] - Snowman Electric closed at 13.25, down 5.49% with a trading volume of 39,300 shares and a transaction value of 53.1525 million yuan [1] Capital Flow - The white goods sector experienced a net outflow of 149 million yuan from institutional investors, while retail investors saw a net inflow of 4.7305 million yuan [1] - Haier Smart Home had a net inflow of 64.2082 million yuan from institutional investors, while it faced a net outflow of 92.977 million yuan from speculative funds [2] - Whirlpool had a net inflow of 578,200 yuan from institutional investors, with a net outflow of 1.4406 million yuan from retail investors [2] - Aucma experienced a net outflow of 179,900 yuan from institutional investors, while it had a net inflow of 6.4482 million yuan from speculative funds [2] - Gree Electric Appliances faced a net outflow of 1.36 million yuan from institutional investors, while retail investors had a net inflow of 7.08976 million yuan [2]