Changhong Meiling has released its 2026 interim report. Net profit attributable to the parent company for the first half was 57.98 million yuan, down 86.10 percent year on year. Net profit excluding non-recurring items was negative 8.96 million yuan, swinging from profit to loss. The company achieved operating revenue of 16.14 billion yuan in the first half, down 10.71 percent year on year. Air conditioning revenue was 9.03 billion yuan, and refrigerator and freezer revenue was 4.84 billion yuan, together contributing more than 80 percent of total revenue. The gross margin of the household appliance manufacturing business fell 2.29 percentage points year on year to 7.87 percent, mainly affected by the property market adjustment, insufficient end-market demand, and rising raw material and sea freight costs. Total non-recurring gains and losses of 66.94 million yuan provided key support to net profit, including 42.96 million yuan from changes in fair value of financial assets and disposal gains or losses, and 23.16 million yuan in government subsidies. The company will not pay a cash dividend for the first half of 2026. Controlling shareholder Sichuan Changhong Electric Co., Ltd. maintained its 24.12 percent stake, and Li Xiaodong was elected chairman.
Changhong Meiling Co LtdNet profit down 86%, non-GAAP loss, and no dividend.
Changhong Meiling Co Ltd BSame financial results as A-share, impacting B-share holders.
Sichuan Changhong Electric Co LtdSubsidiary's profit plunge and loss may weigh on parent's consolidated results.
