（文章来源：证券日报） 证券日报网讯 12月8日，长虹美菱在互动平台回答投资者提问时表示，公司二级市场股价波动受宏观经 济、行业状况、市场流动性等多种因素综合影响，敬请投资者注意风险。目前公司生产经营正常。公司 严格按照深交所信息披露有关规定开展信息披露工作，不存在应披露而未披露的信息。 ...

Core Viewpoint - Changhong Meiling (000521) emphasizes its commitment to technological and product innovation as a national-level benchmark enterprise, enhancing its core competitiveness through over 40 years of development in various home appliance categories [1] Group 1: Company Development - The company has evolved from a single refrigerator product line to a diversified portfolio including refrigerators, air conditioners, washing machines, kitchen appliances, small home appliances, and biomedical low-temperature storage equipment [1] - Changhong Meiling has achieved significant breakthroughs in multiple fields such as smart technology, preservation, energy efficiency, and ultra-thin designs, supported by a strong R&D team and advanced technological accumulation [1] Group 2: Recognition and Awards - The company has received numerous national honors, including "Smart Refrigerator Intelligent Manufacturing Pilot Demonstration Project," "National Green Factory," and "Leading Quality Enterprise in the Home Appliance Industry" [1] - Since 2025, Changhong Meiling has been included in the first batch of China's Consumer Name Brand list published by the Ministry of Industry and Information Technology [1] Group 3: Future Focus - The company plans to continue focusing on its core business, driven by user demand and technological innovation, to enhance market competitiveness and achieve sustainable development [1]

证券代码：000521、200521 证券简称：长虹美菱、虹美菱Ｂ 公告编号：2025-094 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提示性公告 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。 长虹美菱股份有限公司（以下简称"公司"或"本公司"）于2025年11月29 日在《证券时报》《中国证券报》及巨潮资讯网（http://www.cninfo.com.cn） 上刊登了《关于召开2025年第三次临时股东会的通知》，本次股东会将采用现场 表决和网络投票相结合的方式召开，现将本次召开股东会有关事宜提示性公告如 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。 （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 ...

Group 1 - The core viewpoint of the articles highlights the strategic move by the home appliance brand Meiling to enter the "ice and snow economy" through participation in high-profile sports events, specifically the FIS Snowboard and Freestyle Skiing World Cup [1][2] - Meiling showcased its latest technology in preservation and laundry at the event, aiming to validate its "full scene" home appliance solutions in a high-traffic sports environment [1] - The brand's flash store featured its key products, including the M Fresh Ice Refrigerator (Ultra501S) and Blue Oxygen Drying Machine, emphasizing a technological iteration of "full scene preservation" that expands temperature coverage to include refrigeration, freezing, quick freezing, thawing, and cooked food storage [1] Group 2 - The backdrop of Meiling's cross-industry sports marketing is the growing benefits of the ice and snow industry, with predictions indicating that China's ice and snow industry scale will exceed 1 trillion yuan, reaching 1,005.3 billion yuan by 2025 [2] - Meiling aims to strengthen its brand's youthfulness and international attributes by associating its preservation and cleaning technologies with sports and health scenarios through collaboration with the International Ski Federation [2] - In the context of intensified competition in the home appliance market, leveraging the "ice and snow boom" to drive the brand's transformation towards a high-quality, healthy lifestyle is seen as a new growth path for leading domestic appliance companies [2]

Core Viewpoint - Changhong Meiling is undergoing a restructuring process by liquidating two underperforming subsidiaries while simultaneously providing guarantees for others, reflecting a strategy of "stopping the bleeding" and "infusing blood" to rebalance its operations [3][4][6]. Group 1: Restructuring Actions - Changhong Meiling plans to liquidate Hefei Meiling Internet of Things Technology Co., Ltd. and Hebei Hongmao Daily Electric Appliance Technology Co., Ltd., which have shown poor performance [6]. - The liquidation is expected to return approximately 15 million yuan in net assets to the parent company and reduce the consolidated asset total by about 60 million yuan, improving asset turnover and return on equity (ROE) [6][8]. - The company emphasizes that the liquidation will not adversely affect its overall business development and profitability [7]. Group 2: Guarantees for Subsidiaries - Changhong Meiling will provide guarantees totaling approximately 1.83 billion yuan for its subsidiaries, which represents 30.07% of its latest audited net assets [8]. - The guarantees include about 1 billion yuan for Meiling Group, 600 million yuan for Changhong Industry, and 200 million yuan for Mianyang Changhong Smart Home Appliances [8][9]. - The subsidiaries receiving guarantees have high debt ratios, with Meiling Group at 130.62% and Changhong Industry at 72.54% [9]. Group 3: Financial Performance - For the first three quarters of 2025, Changhong Meiling reported revenue of approximately 25.393 billion yuan, a year-on-year increase of 11.49%, but a net profit of about 488 million yuan, down 8.2% year-on-year [13]. - The company has faced challenges in profit growth due to rising panel prices and declining retail volumes in the domestic TV market [13][14]. - The company is exploring new growth areas such as AIoT solutions, military electronics, and new energy battery packs, but these segments currently contribute less than 15% to total revenue [13]. Group 4: Parent-Subsidiary Relationship - Sichuan Changhong, the controlling shareholder of Changhong Meiling, has shown growth in revenue and net profit, indicating a positive performance despite the overall industry downturn [18][19]. - The collaboration between the two companies is characterized by shared resources and a unified decision-making process, although concerns about competitive advantages and financial dependencies remain [21]. - The cross-appointment of executives between the two companies aims to enhance integration but may pose risks related to transaction fairness and internal control [21].

Core Viewpoint - Changhong Meiling is undergoing a restructuring process, which includes the cancellation of two underperforming subsidiaries and providing guarantees for others, reflecting a dual strategy of "stopping the bleeding" and "infusing blood" to optimize its capital structure and resource allocation [1][21]. Group 1: Company Actions - On November 29, Changhong Meiling announced the liquidation of two companies: Hefei Meiling Internet of Things Technology Co., Ltd. and Hebei Hongmao Daily Electric Appliance Technology Co., Ltd. [4][24]. - The cancellation of these subsidiaries is expected to reduce management costs and improve asset turnover and return on equity (ROE) by approximately 0.6 billion yuan [4][24]. - The company plans to provide guarantees totaling approximately 1.83 billion yuan for its subsidiaries, which represents 30.07% of its latest audited net assets [5][25]. Group 2: Financial Performance - As of December 3, Changhong Meiling's stock price was 6.8 yuan per share, with a market capitalization of 7.003 billion yuan [2][22]. - For the first three quarters of 2025, the company reported revenue of approximately 25.393 billion yuan, a year-on-year increase of 11.49%, but a net profit of about 488 million yuan, a decrease of 8.2% year-on-year [11][31]. - The company's cash flow from operating activities decreased by 51.17% year-on-year, indicating challenges in maintaining profitability despite revenue growth [11][31]. Group 3: Subsidiary Performance - Hefei Meiling Internet of Things Technology Co., Ltd. had total assets of 27.5644 million yuan and liabilities of 4,400 yuan, with a revenue of only 831,500 yuan and a net loss of 4.9731 million yuan for the first three quarters [4][24]. - Hebei Hongmao reported total assets of approximately 8.5713 million yuan and liabilities of 70 yuan, with no revenue and a net profit of 1.4406 million yuan during the same period [4][24]. - The subsidiaries that are receiving guarantees have high debt ratios, with Meiling Group at 130.62% and Changhong Industry at 72.54% [6][26]. Group 4: Strategic Insights - The dual strategy of cancellation and guarantees is seen as a necessary measure to manage underperforming assets while supporting those with strategic importance to the company's revenue base [9][29]. - Analysts suggest that the guarantees are intended to replace high-cost financing for subsidiaries, thereby stabilizing the financial situation ahead of potential industry price wars [9][29]. - The restructuring is viewed as a way to avoid significant losses in revenue and workforce that would occur if the underperforming subsidiaries were simply cut [10][30].

证券日报网讯 12月3日，长虹美菱在互动平台回答投资者提问时表示，公司构建了"技术路线+产品路线 +推广路线"全链条创新体系，打造"三线一体"战略布局，以技术创新驱动产业发展。 （文章来源：证券日报） ...

Core Viewpoint - The report highlights a decline in the production of household refrigerators in China, indicating potential challenges for the industry moving forward [1]. Industry Overview - According to the National Bureau of Statistics, the production of household refrigerators in China reached 10.13 million units in September 2025, representing a year-on-year decrease of 2% [1]. - From January to September 2025, the cumulative production of household refrigerators was 80.35 million units, showing a cumulative growth of 1.5% [1]. Market Research - The report titled "2025-2031 China Smart Refrigerator Industry Market Panorama Research and Development Trend Judgment Report" by Zhiyan Consulting provides insights into the future trends and market dynamics of the smart refrigerator sector [1]. - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research reports, business plans, feasibility studies, and customized services [1].

格隆汇12月2日丨长虹美菱(000521.SZ)公布，截至2025年11月30日，公司通过股票回购专用证券账户以 集中竞价交易方式回购公司A股10,314,701股，占公司总股本的1.0015%；本次回购A股股份最高成交价 为7.45元/股，最低成交价为6.58元/股，成交总金额为72,630,606.10元（不含交易费用）。 ...

Group 1 - The company announced a stock repurchase plan, intending to buy back 10.3147 million A-shares, which represents 1.0015% of the total share capital [1] - The maximum transaction price for the repurchased A-shares is set at 7.45 yuan per share, while the minimum price is 6.58 yuan per share [1] - The total amount allocated for this stock repurchase is 72.6306 million yuan, excluding transaction fees [1]