Changhong Meiling Co., Ltd.

2026 Semi-Annual Report

August 2026

Section I Important Notice, Contents and Interpretation

The Board of Directors, all directors, and senior executives of the Company warrant that the contents of this semi-annual report are true, accurate, and complete, contain no false records, misleading statements, or material omissions, and assume individual and joint and several legal liability.

Mr. Li Xiaodong, Chairman of the Company, Mr. Yang Bing, person in charge of accounting work and Mr. Hu Xiangfei, person in charge of accounting organ (accountant in charge) hereby confirm that Warrant that the financial report contained in this semi-annual report is true, accurate, and complete.

All Directors attended the Board meeting for reviewing this semi-annual report through a combination of in-person attendance and remote participation.

Modified audit opinions notes

□ Applicable √ Not applicable Risk warning regarding forward-looking statements relating to future plans and other matters

in the semi-annual report √ Applicable □ Not applicable

This semi-annual report contains forward-looking statements regarding future plans and other matters. Such statements do not constitute substantive commitments by the Company to investors. Investors and relevant parties should maintain sufficient awareness of the associated risks and understand the differences between plans, forecasts, and commitments. Investors are advised to pay attention to investment risks.

Investors are advised to carefully read the full text of this semi-annual report and pay particular attention to the following risk factors:

Under “X. Risks Faced by the Company and Countermeasures” in Section III “Management Discussion and Analysis” of this report, the Company has provided a detailed description of potential operational risks and corresponding measures. Investors are advised to review the relevant contents.

Securities Times, China Securities Journal and Juchao Website (www.cninfo.com.cn) are the media for information disclosure for year of 2026 that appointed by the Company. All public information under the name of the Company disclosed on the above said media and website shall prevail, and investors are advised to exercise caution.

Does the Company need to comply with disclosure requirements of the special industry: No Semi-annual profit distribution proposal or proposal for conversion of capital reserves into

share capital reviewed by the Board of Directors during the reporting period

□ Applicable √ Not applicable The Company plans not to distribute cash dividends, issue bonus shares, or increase share

capital by transferring capital reserves.

The directors and senior executives of the Company have separately signed written confirmations regarding the Company’s 2026 Semi-Annual Report.

Contents

• Section I Important Notice, Contents and Interpretation....................................................1
• Section II Company Profile and Main Financial Indexes.................................................... 7

• I. Company profile........................................................................................................... 7
• II. Person/Way to Contact............................................................................................... 7
• III. Other Matters.............................................................................................................7 (IV) Main accounting data and financial indexes......................................................... 8

• V. Accounting Data Difference under Domestic and Foreign Accounting Standards9
• VI. Items and Amounts of Non-recurring Gains and Losses....................................... 9

Documents Available for Reference

• I. Financial statements bearing the signatures of the Company’s Chairman, the person

responsible for accounting affairs, and the head of the accounting department (accounting supervisor), and affixed with the Company’s seal;

• II. Original documents of the Company and manuscripts of public notices that disclosed in

the website designated by CSRC in the reporting period.

Definition

Section II Company Profile and Main Financial Indexes

I. Company profile

II. Person/Way to Contact

III. Other Matters

1. Contact information Whether the Company’s registered address, office address and postal code, website, email

address, and other information changed during the reporting period

□ Applicable √ Not applicable There were no changes to the Company’s registered address, office address and postal code,

website, email address, or other relevant information during the reporting period. For details, please refer to the 2025 Annual Report.

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1. Information Disclosure and Storage Location Whether the locations for information disclosure and report availability changed during the

reporting period

□ Applicable √ Not applicable

There were no changes during the reporting period to the website of the stock exchange and the names and websites of the media outlets where the Company discloses its semi-annual reports, or to the location where the Company’s semi-annual reports are available. For details, please refer to the 2025 Annual Report.

1. Other Relevant Information Whether other relevant information changed during the reporting period

□ Applicable √ Not applicable (IV) Main accounting data and financial indexes

Does it have retroactive adjustment or re-statement on previous accounting data?

□Yes √Not applicable

V. Accounting Data Difference under Domestic and Foreign Accounting Standards (I) Difference of the net profit and net assets disclosed in financial report, under both

IAS (International Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)

□ Applicable √ Not applicable

The Company has no difference of the net profit and net assets disclosed in financial report, under both IAS (International Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles) in the reporting period.

(II) Difference of the net profit and net assets disclosed in financial report, under both foreign accounting rules and Chinese GAAP (Generally Accepted Accounting Principles)

□ Applicable √ Not applicable

The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or Chinese GAAP (Generally Accepted Accounting Principles) in the reporting period.

(III) Reasons for the differences of accounting data under accounting rules in and out of China

□ Applicable √ Not applicable

VI. Items and Amounts of Non-recurring Gains and Losses

√ Applicable □ Not applicable

Unit: RMB

Details of other gains/losses items that meets the definition of non-recurring gains and losses:

□ Applicable √ Not applicable Explain the items defined as recurring gains and losses according to the lists of non-recurring

gains and losses in Q&AAnnouncement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Non-recurring Gains and Losses

□ Applicable √ Not applicable

Section III Management Discussion & Analysis

I. Principal Business of the Company During the Reporting Period

The Company is one of the important electrical appliance manufacturers in China, with four domestic manufacturing bases in Hefei, Mianyang, Jingdezhen, and Zhongshan, as well as overseas manufacturing bases in countries such as Indonesia. After more than 40 years of development, the Company has evolved from a single refrigerator product line to a new multi-category collaborative ecosystem encompassing refrigerators (freezers), air conditioners, washing machines, major kitchen appliances, small home appliances, and biomedical cryogenic storage equipment.

The Company is a national level benchmark enterprise for technological innovation, carefully building its core competitiveness through technological and product innovation. With the advanced R&D team and advanced technology accumulation, Meiling has made continuous breakthroughs in key technological fields, such as intelligence, preservation, thin wall, odourlessness, energy saving, air cooling, deep cooling, simulation, ultra-thin, cleaning and clothing care. The Company has a comprehensive system for technological innovation and quality control. Based on international management system certifications such as ISO9001 and ISO14001, and relying on multiple national core platforms and qualifications, the Company continues to strengthen its R&D and manufacturing capabilities. The Company possesses a National-level Enterprise Technology Center, a National-level Industrial Design Center, and holds titles including National Technology Innovation Demonstration Enterprise, National Industrial Product Green Design Demonstration Enterprise, and National Postdoctoral Research Workstation. It has also established a 5G Industrial Internet Innovation Application Lab and founded Anhui Province's first RoHS Public Testing Center, Anhui Green & Energy-Efficient Refrigerator Engineering Technology Research Center, Anhui Energy-Saving & Freshness-Preserving Green Refrigerator Engineering Research Center, and Anhui Smart Home Appliance Manufacturing Innovation Center, ensuring full-chain quality assurance in R&D and manufacturing. In addition, the Company also operates provincial-level innovation platforms such as the Anhui Green & Energy-Efficient Refrigerator Engineering Technology Research Center. In addition, the Company also operates provincial-level innovation platforms such as the Anhui Green & Energy-Efficient Refrigerator Engineering Technology Research Center. It has also obtained industry-leading certifications, including AAA-Level Excellence in the Upgraded Integration of Informatization and Industrialization Management System and a spot among China's Top 50 Industrial Digitalization Leading Enterprises, further strengthening its technological leadership, R&D efficiency, and smart manufacturing capabilities.

In recent years, the Company has won multiple national honors such as the "Smart Refrigerator Intelligent Manufacturing Pilot Demonstration Project", "National Green Factory", "National Quality Leader in Home Appliances", "National Technology Innovation Demonstration Enterprise", and "China Industry-University-Research Collaborative Innovation Demonstration Enterprise". In 2026, Meiling M-Fresh Wine Cabinet won the German iF Design Award for its ultimate aesthetic design and exquisite craftsmanship. Meiling AI Starry Blue Oxygen Washing & Drying Care Suite claimed the AWE 2026 Applen Award for “Innovation” at the Appliance & Electronics World Expo (AWE) Shanghai Exhibition. Boasting outstanding performance in product innovation, Meiling M-Fresh Ultra502F Refrigerator was awarded the Anhui New Product Certificate issued by the Department of Industry and Information Technology of Anhui Province, marking further recognition of the Company’s product innovation and technological strength. In addition, the Company’s Shared Air Conditioner for Living & Dining Room won the “Premium Supply Product Award” at the China Household Appliance Retail Innovation Summit thanks to its millimeter-wave radar precision sensing technology, while the Living-Dining Cabinet II received the German “Red Dot Product Design Award” for its glacier aesthetic design and sophisticated workmanship.

The Company has continuously achieved breakthrough results in the fields of refrigerators, freezers, air conditioners, washing machines, major kitchen appliances, small home appliances and biomedicine, progressively establishing a dominant industrial matrix centered on large white goods. Looking ahead, the Company will adhere to the business policy of “innovation-driven development, resource integration, industrial synergy, marketing transformation and digital advancement” to continuously lead industry upgrading and strengthen market foundations.

During the reporting period, the Company’s revenue was primarily generated from its refrigerator (freezer), air conditioner, washing machine, major kitchen appliance, small home appliance, and biomedical equipment businesses, with a total revenue reaching RMB 15.996 billion yuan,, accounting for 99.13% of the Company’s total operating revenue.

II. Core Competitiveness Analysis (I) Brand influence

As a well-known comprehensive white goods manufacturer in China, the Company operates across multiple sectors covering refrigerators (freezers), air conditioners, washing machines, major kitchen appliances, small household appliances and biomedicine. It features a sound industrial layout and profound technological accumulation. In 2026, adhering to the brand proposition of “Bringing Goodness to Life”, the Company strove to elevate the brand with superior products and create corporate value through sustained innovation, continuously pushed forward the high-end and youthful upgrading of the brand, and further consolidated its industrial standing.

1. Unify the brand visual system and consolidate user perception

In 2026, the Company completed the unified upgrading of omni-channel brand visual identity and value system, created the exclusive IP “Meiling Doll”, and established a brand IP operation system. Breaking the fragmented communication model, the Company deeply integrated brand values into the whole process of operation, communication and user interaction centering on the core positioning of quality, intelligence and a better life. Through regular scenario-based IP operations, the Company optimized brand impression, improved brand recognition, reputation and user stickiness, and laid a solid foundation for the long-term development of the brand.

2. Implement omni-channel precision communication to continuously boost brand influence

The Company built an omni-channel communication system featuring online-offline linkage and empowerment by authoritative media to precisely cover core markets and target consumer groups. Offline, the Company focused on key regions including Sichuan, Chongqing and Anhui, and consolidated regional market advantages via advertisements in high-traffic scenarios such as subways, airports and urban commercial plazas. Leveraging the National Museum Refrigerator IP, the Company seized opportunities including the settlement in the National Museum and product upgrading to create hot topics for brand communication and demonstrate the heritage of a domestic brand.

Online, the Company expanded presence on new media platforms such as Douyin (Tik Tok) and Xiaohongshu (REDnote), and penetrated young consumer groups through content marketing, influencer cooperation and targeted advertising. Meanwhile, the Company maintained connections with authoritative media including China Central Television. The M-Fresh Refrigerator was featured on CCTV News Network, strengthening the brand’s technological credibility and effectively expanding its public influence.

3. Deepen technological innovation and build differentiated product barriers

Based on consumers’demands for intelligence, freshness and scenario-based experiences, the Company launched a number of flagship products during the reporting period, including AI integrated home appliances, AI human-sensing air conditioners, AI wine coolers and ultra-low temperature cold chain equipment, covering smart living and professional cold chain scenarios. The product line was continuously extended and the product structure steadily optimized, steadily enhancing the core competitiveness of the brand and injecting momentum into the high-quality development of the Company.

(II) Product capability The Company established a full-chain R&D innovation system of “user research roadmap +

technology roadmap + product roadmap”, forming the three-in-one strategic layout. It enabled technological innovation driven by user demands and product upgrading led by technological innovation, continuously improved the core competitiveness of products and promoted sound industrial development. The Company set up an integrated collaborative mechanism covering sales, research, production and supply. Team collaboration across all links improved the success rate of product launch and value contribution throughout product lifecycles. The Company kept streamlining SKUs, freed up market channel and terminal resources, and improved product operation efficiency and capacity to develop key products.

Refrigerator (Freezer) Products: Upholding the product planning philosophy of “Attractive Appearance, Reliable Quality, Competitive Cost Performance and Satisfactory Experience”, the Company systematically optimized its product portfolio focusing on vertical AI application, CMF innovation, layout of trending categories and upgrading of fresh-keeping and odor removal technologies, and maintained its leading position in the industry featuring “freshness, slim profile, narrow width, large capacity and attractive appearance”. The M-Fresh series 618S/606F/516F models were launched to reinforce the brand’s image in fresh-keeping. Differentiated products including the “High-line Large Freezer 570 Cross Door” under the “Frozen Fresh 2.0” line, the flagship 520 French Door model of “Little Certainty 2.0” series and the Japanese-style 409 Five-door model were developed to meet demands of segmented markets in terms of appearance design and functional experience. Meanwhile, the Company expanded trending categories and improved the portfolio of automatic ice-making products to precisely target high-quality living scenarios. For freezers, the Company pressed ahead with technological upgrading toward full frequency conversion, electronic control and air cooling. It developed “inverter frost-free master”, “inverter energy-saving master” and “inverter deep freezer”, improved the full-capacity portfolio of air-cooled chest freezers and strove to optimize product structure.

Air Conditioner Products: Adhering to the “user-oriented” approach and the product positioning of “Exquisite Craftsmanship, Comfort at Every Degree”, the Company boosted product competitiveness based on “AI+” and advanced market-oriented product layout. In the first half of 2026, the Inspirational Wind Wall-mounted Air Conditioner and Shared Air Conditioner II Cabinet for Living & Dining Room were launched, equipped with AI human sensing technology (ultra-long detection range, 120° wide viewing angle, human detection accuracy above 97%). Three intelligent modes including airflow following people, airflow avoiding people and soft airflow when people approach were realized to deliver premium smart experience for users. Equipped with AI Offline Voice 2.0 that supports custom wake-up words, the products improved user interaction experience.

Washing Machine Products: By deeply understanding user demands, advancing core technologies and improving product layout in response to industrial trends, the Company

promoted high-quality and sustainable development of the washing machine business. For front-loading washing machines, the AI Starry Series Washer-Dryer Combo was deployed, and the 12KG product line was actively expanded to meet user demand for large-capacity front-loaders and lift product competitiveness. For top-loading washing machines, the Company expanded 12 KG-20 KG large-capacity products. The Hercules PRO series was developed via appearance and power upgrades, effectively lifting product profitability. For clothes dryers, multiple flat-embedded appearance designs were introduced to enrich the product lineup, and new product breakthroughs were achieved to enhance overall product competitiveness.

Kitchen and Small Home Appliances: Supported by product-driven strategy, the Company optimized R&D capacity and product structure in response to market demands, focusing on scenarios including “AI Healthy Kitchen”, “Fresh Kitchen” and “Whole-house Water Usage”. For major kitchen appliances, core technologies such as intelligent range hood and stove purification, anti-dry burning, intelligent temperature control and integrated embedded design were continuously upgraded. The Company developed AI visual food recognition, dietary large model, health data monitoring and adaptive cooking control systems to deliver full-link intelligent healthy cooking solutions. The Small Wing Range Hood was launched with optimized air duct noise reduction technology, catering to small-sized homes and open kitchen scenarios. Whole-house water solutions integrate core functions including pre-filtering, central water purification, strontium-rich mineralization, UV sterilization and graded water supply, providing customized healthy water solutions for multiple scenarios. The AI wine cooler was launched among small household appliances, integrating AI temperature control, fresh water purification and fresh-keeping storage to match high-end consumption needs. In addition, the Company continuously carried out industry-university-research cooperation. The Fresh Water series maintained leading standards in tea brewing, and the brand influence kept rising.

Biomedical Products: Focusing on low-temperature storage, laboratory equipment, and automation applications, the Company drives product upgrades through technological innovation. In the low-temperature storage sector, the Company further explored technological directions of “intelligence, energy conservation, safety and capacity expansion”. New ultra-low temperature dual-system products were launched with innovative auto-cascade technology enabling seamless switch upon faults, which significantly improved the safety guarantee of biological samples. Meanwhile, products including intelligent variable temperature refrigerators and -40℃ frost-free low-temperature storage cabinets effectively enhanced storage efficiency and operational safety. In the laboratory equipment sector, the Company expanded horizontally the portfolio of biosafety products centered on biosafety cabinets, clean benches and centrifuges to foster new growth drivers. In the field of automated applications, the Company focused on solutions for automated ultra-low temperature storage and biological sample banks, accelerated iteration of core products and strengthened full-process management capacity covering sample access to intelligent control.

Meanwhile, it expanded storage systems for segmented scenarios and rolled out special solutions for automated blood storage and biomedical compound storage, enriching supplies for clinical practice, new drug R&D and cell therapy and empowering the development of precision medicine.

(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 operational quality improvement through deep linkage of objective management, value chain collaboration, comprehensive budget and performance management. In terms of target management, closely following the corporate strategy and business policies, the Company built a closed-loop mechanism of “target setting - process monitoring - deviation correction - result evaluation” in accordance with the SMART principles to drive continuous improvement of operating performance. In terms of value chain coordination, the Company clarified the rights and responsibilities of each business unit to stimulate internal vitality. It strengthened coordination among upstream and downstream industrial chain participants and internal links, and established an integrated and efficient operation mechanism featuring aligned targets, connected processes and co-creation of value. In terms of budget management, the Company deepened full closed-loop management of comprehensive budget throughout the whole process, implemented dynamic budget adjustment and rolling forecast mechanisms, and provided accurate and timely financial support and decision-making basis for resource allocation optimization, risk prevention and achievement of strategic objectives. In terms of performance management, the Company further promoted full-process performance management, strengthened performance communication and feedback, effectively guided employees to grow together with the Company, fully stimulated value creation momentum, and drove business units to hit operating targets.

(IV) Marketing capability

Adhering to the overall strategy of “Strengthen Products, Optimize Channels, Attract Users and Improve Efficiency”, the Company boosted organic integration and in-depth cooperation between online and offline businesses. Online channels serve as the brand highland and traffic entry, while offline channels undertake traffic conversion, brand image display and premium experience delivery to fully leverage product advantages. On the product side, the Company focused on introducing differentiated trending products and boosting sales of structural products. On the channel side, it adhered to refined and high-quality categorized operation. On the market side, the Company followed the user-oriented principle, strengthened brand operation and high-quality content development, fostered new retail awareness among all staff and lifted retail conversion capacity. At the same time, the Company continuously enhanced service support capabilities for key customers to consolidate the foundation of cooperation with core clients. It further pushed forward e-commerce transformation and accelerated the development of overseas

e-commerce channels. Internal efficiency was continuously improved, and management capacity was strengthened focusing on order delivery capability and operational efficiency enhancement.

III. Main Business Analysis (I) Overview Whether consistent with the disclosure of main businesses engaged by the Company during

the reporting period

□ Yes √ No In the first half of 2026, amid intensified competition in the home appliance industry, the Company actively pushed forward the implementation of business plans centering on the business philosophy of “innovation-driven development, resource integration, industrial synergy, marketing transformation and digital and digital & intelligent advancement”. During the reporting period, the Company achieved operating revenue of RMB16.136 billion, representing a year-on-year decrease of 10.71%;Net profit attributable to shareholders of RMB 57.9826 million, representing a year-on-year decrease of 86.10%.

In terms of business segments, the refrigerator (cabinet) business achieved revenue of approximately 4.835 billion yuan, representing a year-on-year increase of 6.39%; the air conditioning business achieved revenue of approximately 9.034 billion yuan, representing a year-on-year decrease of 21.95%, mainly due to factors such as the weakening effect of national subsidy policies, weakening end-user demand, and intensified industry competition, which led to a year-on-year decline in the scale of the air conditioning business in the first half of the year; the washing machine and other businesses achieved revenue of approximately 1.212 billion yuan, representing a year-on-year increase of 16.55%; the kitchen appliances and small household appliances business achieved revenue of approximately 760 million yuan, representing a year-on-year increase of 8.70%; the biomedical business achieved revenue of approximately 155 million yuan, representing a year-on-year increase of 4.14%.

The year-on-year decline in the Company’s performance was jointly affected by the following factors: Profitability faced periodic pressure due to rising prices of bulk raw materials such as non-ferrous metals and chemical raw materials as well as increased ocean freight rates. Affected by the continuous adjustment of the real estate market, insufficient terminal consumer demand and extended channel inventory digestion cycle, industrial competition intensified, the average product selling price declined, and profit margins were further squeezed. To enhance the medium and long-term competitiveness of products, the Company continued to increase long-term and strategic investments in intelligent transformation and digital upgrading as well as brand building, which exerted certain impacts on current-period profits. Going forward, the Company will strive to optimize product mix, deepen strategic cooperation with suppliers,

promote quality improvement and efficiency enhancement across the internal full value chain, and facilitate sustained improvement in operational capacity and profitability.

(II) Progress of the Company’s development strategy and business plans during the reporting period

1. Refrigerator (Freezer) industry

The Company continued to consolidate internal operational capacity focusing on the core strategy of “Strengthen Products, Optimize Channels, Attract Users and Improve Efficiency”. In terms of products, the Company leveraged the industrial advantages of “internal and external collaboration” to advance the development and launch of key products. Led by high-end M-Fresh 606 and 618 models, it reshaped the global product lineup based on the most essential fresh-keeping capability of the refrigeration industry. In terms of channels, classified refined high-quality operation was implemented. KT channels focused on optimizing profitability, basic channels steadily consolidated operational foundations, sinking channels vigorously boosted terminal sales, and the C-end e-commerce business continued to expand market share. Meanwhile, the Company continuously deepened cooperation with KA customers, expanded customer coverage on online channels, and built market capacity for offline channels. Brand building and content operation were continuously strengthened on the market front. In terms of organization, the Company promoted streamlined organizational restructuring, consolidated responsibilities of business entities, and comprehensively improved personnel efficiency.

During the reporting period, the Company’s refrigerator (freezer) business generated revenue of approximately RMB4.835 billion yuan, a year-on-year increase of 6.39%.

2. Air conditioning industry

Adhering to the user-oriented principle, thoroughly implementing the business philosophy of “product excellence, brand prioritization, channel co-creation, and direct-to-consumer”, closely following the development requirement of “consolidate foundations, explore new opportunities, improve quality and boost efficiency”, and supported by strengthened market competitiveness and organizational guarantees, the Company continuously promoted industrial development. In terms of products, focusing on AI+ Full Dust-free technology and AI+ Living-Dining Cabinet, the Company launched new products including the Inspirational Wind Wall-mounted Air Conditioner and Shared Air Conditioner II Cabinet for Living & Dining Room, expanded product categories, improved the product portfolio and drove continuous upgrading of product structure. In terms of brands, guided by brand public relations, the Company strengthened brand recognition and expanded brand influence. It carried out product promotion and brand

communication via short videos, graphics and other content formats to drive sales conversion. In terms of channels and users, the Company adhered to integrated online and offline operation, continuously pushed forward market expansion and large store construction; comprehensively advanced the development of the customer system for household central air conditioners, acquired new customers, promoted new retail transformation, established a marketing system enabling direct brand access to users, and realized direct user connection in marketing, retail, after-sales service and other scenarios. On the market front, the Company focused on core markets, intensified channel development, diversified business layout, strove to improve regional penetration and customer coverage, and expanded order volume. Meanwhile, the Company deepened internal coordination mechanisms, optimized the efficiency of resource allocation, translated strategic orientation into practical execution results, and maintained steady and orderly business operation.

During the reporting period, the Company’s air conditioner business achieved revenue of approximately RMB9.034 billion yuan, a year-on-year decrease of 21.95%.

1. Washing machine industry Centering on the business philosophy of “Focused Breakthrough and Systematic

Integration”, in terms of products, the Company adhered to the user-oriented approach, advanced new product launches and technological iteration, rolled out flagship products including M-Fresh Starry Series and Hercules Pro, and promoted domestic and overseas product development as well as customized business for customers. In terms of operation, focusing on three core priorities of quality, cost reduction and delivery, the Company achieved industrial quality improvement and efficiency enhancement through full-chain optimization. On the market front, the Company deepened channel transformation and base market development, carried out joint marketing with customers, and lifted market share and brand influence in the mid-to-high-end segment. For front-loading washing machines, the iteration of flat embedding technology drove steady growth in export volume, achieving remarkable results in developing core customers. Clothes dryers completed market introduction and formed effective synergy with washing machine products. Meanwhile, the Company fully pushed forward the construction of the Mianyang Smart Home Appliance Factory, optimized regional production capacity layout, and accumulated solid momentum for long-term industrial development.

During the reporting period, the Company’s washing machine and other businesses generated revenue of approximately RMB1.212 billion yuan,, a year-on-year increase of 16.55%.

4. Major kitchen appliance and small home appliance industry

Centering on kitchen and living solutions, taking brand development as the main line and adhering to the user-oriented principle, the Company promoted integrated multi-category omni-channel development and user operation, and steadily built industrial portfolio capabilities. In terms of products, the Company stabilized the drinking appliance segment and expanded water purification products. It carried out iterative upgrading focusing on healthy materials, intelligent control and other directions, and continuously improved the product portfolio. In terms of channels, online, the Company deepened cooperation with emerging platforms and conducted brand content marketing relying on digital AI tools; offline, it intensified development in core advantageous regions, promoted the layout of brand exclusive stores, consolidated the foundation of existing markets, and upgraded offline scenario-based experience. In terms of services, relying on an efficient management platform, the Company realized rapid response to user demands, enhanced the professionalism of after-sales services, and promoted the application of digital management tools simultaneously, leading to steady improvement in user service experience and satisfaction.

During the reporting period, the Company’s major kitchen appliances and small household appliance business achieved revenue of approximately RMB 760 million yuan, a year-on-year increase of 8.70%.

1. Biomedical industry Adhering to the user-oriented principle, the Company continuously promoted channel

organizational reform, thoroughly implemented the “market segmentation + scenario-based engagement” strategy, and accurately identified and responded to potential user demands. The Company continuously improved channel layout in the life science sector, optimized regional resource allocation and partner structure, and effectively enhanced the depth of user coverage and penetration efficiency in key markets. At the same time, the Company regularly carried out nationwide inspections under the “LingXin Service” program and special training on improving after-sales service skills, and continuously boosted user satisfaction and brand trust via professional and standardized service capabilities. The Company accelerated global layout, made efforts in both scale expansion and quality improvement, and continuously consolidated channel foundations. It attached equal importance to developed markets and emerging markets, and raised the visibility of core products through diversified promotion approaches. Meanwhile, the Company steadily advanced local deployment, improved market response speed and delivery efficiency, strove to build full-chain competitiveness covering product promotion, technical support and after-sales services, and gradually formed a global channel system supported by customer stickiness.

During the reporting period, the Company’s biomedicine business achieved revenue of approximately RMB155 million yuan,, a year-on-year increase o %.

• (III) Year-on-year changes in major financial data Unit: RMB

• (IV) Significant changes in profit composition or profit sources of the company during

the reporting period

□ Applicable √ Not applicable

No significant changes occurred in the profit composition or profit sources of the Company during the reporting period.

• (V) Constitute of operating revenue Unit: RMB

• (VI) Information on industries, products or regions contributing over 10% of the

Company’s operating revenue or operating profit

√ Applicable □ Not applicable

Unit: RMB

Under circumstances of adjustment in reporting period for statistic scope of main business data, adjusted main business based on latest one year’s scope at the end of the reporting period

□ Applicable √ Not applicable

IV. Analysis of Non-main Business

√ Applicable □ Not applicable

Unit: RMB

• V. Analysis of Assets and Liabilities

• (I) Major changes of assets composition Unit: RMB

(II) Information on major overseas assets

□ Applicable √ Not applicable

Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co., Ltd.

(III) Assets and liability measured by fair value √ Applicable □ Not applicable

Unit: RMB

Other changes Other changes in receivables financing are due to the increase in notes receivable with the objective of both collecting contractual cash

flow (collections) and selling (endorsement or discounting). Are there major changes in measurement attributes for main assets of the Company in the reporting period?

□ Yes √ No Explanation of reasons for material changes in measurement attributes of major assets of the Company during the reporting period and their

impacts on operating results and financial position

25

(IV) Assets right restricted at the end of the reporting period

At the end of the reporting period, the Company has no major assets that were seized, detained, frozen, mortgaged or pledged. As for other assets with restricted rights, see more in relevant content of “26. Assets with Restricted Ownership or Use Rights” in “V. Notes to Major Items of Consolidate Financial Statement” under “Section VIII Financial Report” in the Report.

VI. Investment Analysis (I) Overall situation √ Applicable □ Not applicable

The change in the Company’s investment amount during the reporting period was due to the joint capital contribution of RMB 500 million by the Company and its subsidiary Mianyang Meiling in the same period of last year to establish the subsidiary Mianyang Changhong Smart Home Appliance Co., Ltd. No new major investment projects were launched during this reporting period.

(II) The major equity investment obtained during the reporting period

□ Applicable √ Not applicable

(III) Ongoing major non-equity investment projects during the reporting period √ Applicable □ Not applicable

On June 18, 2025 and November 24, 2025, the Company held the 18th meeting of the 11th Board of Directors and the second extraordinary shareholders’ meeting for 2025. During these meetings, the Proposal on the Investment and Construction of the Smart Home Appliances Industrial Park Project by Subsidiaries was reviewed and approved. The Company agreed to allow its subsidiary Hefei Industrial to invest in and build the Smart Home Appliances Industrial Park Project with a total investment of RMB 877.05 million. As of May 18, 2026, the project had completed the design planning of process equipment and production line layout as scheduled, and construction had not yet commenced. On May 18 and June 8, 2026, the Company convened the 30th meeting of the 11th Board of Directors and the 2025 Annual General Meeting of Shareholders, which reviewed and approved the Proposal on Subsidiary Suspending Investment and Construction of the Smart Home Appliance Industrial Park Project. The subsidiary Hefei

Industrial was approved to suspend investment and construction of the Smart Home Appliance Industrial Park Project, and the Chairman of the Company was authorized to launch project construction in due course according to market demand and the Company’s production capacity utilization.

For detailed information, the Company disclosed relevant content via announcements (Announcement No. 2025-045, 2025-046, 2025-082, 2026-033, 2026-034, 2026-038) on designated information disclosure media including Securities Times, China Securities Journal and Juchao Website (www.cninfo.com.cn) on June 19, 2025, November 25, 2025, May 19, 2026 and June 9, 2026.

(IV) Financial assets investment

1. Securities investment

□ Applicable √ Not applicable The Company had no securities investment in the reporting period.

1. Derivative investment √ Applicable □ Not applicable

(1) Derivatives investment for hedging purposes during the reporting period √ Applicable □ Not applicable

Unit: RMB 10,000

Full Text of the 2026 Semi-Annual Report of Changhong Meiling Co., Ltd.

(2) Derivative investments for speculation during the reporting period

• □ Applicable √ Not applicable The Company had no derivative investment in the reporting period. (V) Utilization of raised funds
• □ Applicable √ Not applicable The Company had no use of proceeds during the reporting period.

• VII. Sales of Major Assets and Equity

• (I) Sales of major assets

□ Applicable √ Not applicable No major assets were sold in the reporting period.

• (II) Sales of major equity

□ Applicable √ Not applicable

VIII. Analysis of Main Holding and Participating Companies √ Applicable □ Not applicable

(I) Particular about main subsidiaries and participating companies with net profit over 10%

Unit: RMB

(II) Subsidiary obtained and disposed in the reporting period

□ Applicable √ Not applicable

(III) Description of holding and participating companies

□ Applicable √ Not applicable The Company has no important information on holding and invested companies required to

be disclosed during the reporting period.

IX. Structured Entities Controlled by the Company

□ Applicable √ Not applicable

X. Risks Faced by the Company and Countermeasures (I) Potential risks and countermeasures

In 2026, the Company will face risks including intensified industrial competition, exchange rate fluctuations, volatility of bulk material prices, trade frictions and geopolitical impacts.

1. Risk of sluggish market demand and intensified industrial competition The domestic large household appliance market has shifted from being driven by growth to a

phase of competition within the existing market. Due to the weakening effect of national subsidy policies, the continuous adjustment of the real estate market, and weak end-consumer demand, the market's growth momentum has noticeably weakened. At the same time, raw material prices are running high, industry prices are becoming increasingly competitive, and corporate profit margins are further compressed, leading to a pronounced trend of operational pressure..

The Company will continuously optimize product mix, increase investment in technological innovation and development of differentiated products to raise product added value and competitiveness; deepen channel transformation and refined operation to improve operational efficiency; strengthen cost control and promote quality improvement and efficiency enhancement across the full value chain so as to boost comprehensive risk resistance capacity.

1. Exchange rate fluctuation risk The overseas business accounts for a certain proportion of the Company's total business.

Changes in the international situation may trigger sharp exchange rate fluctuations, thereby affecting the profitability of the Company’s export business and exchange losses.

The Company adheres to a prudent business approach, with ongoing close monitoring of exchange rate fluctuations and cautious exchange rate operations to minimize adverse impacts of exchange rate fluctuations.

1. Risk of raw material price volatility and supply risks Major raw materials for the Company’s products include steel, copper, aluminum, plastics

and chemical materials. Significant fluctuations in bulk raw material prices will directly affect the Company’s production costs and consequently impose certain impacts on operating performance. In addition, spurred by the rapid development of the global AI industry, some electronic components may face risks of tight supply or price swings.

The Company will keep a close eye on price fluctuations of bulk materials, and address risks through internal technological innovation, diversified supply layout, raw material price adjustment early warning and evaluation mechanisms to mitigate risks arising from price volatility. At the same time, the Company will strengthen the development of the supply chain system and leverage industrial chain coordination advantages to secure stable supply of core raw materials.

1. Risk of international trade frictions and geopolitical risks Global trade frictions and geopolitical uncertainties may hinder the expansion of the

Company’s overseas business and undermine supply chain stability.

The Company closely monitors the impacts of changes in international trade policies and geopolitical uncertainties on its global business, and improves risk early warning and emergency response mechanisms. It actively advances diversified layout of overseas markets and adopts various risk response measures to effectively guard against relevant risks.

(II) Business plan for the second half of the year In the second half of 2026, the Company will pursue high‑ quality development through

five key initiatives: innovation-driven development, internal-external integration, industrial synergy, marketing upgrading and digital transformation; uphold its product philosophy of “Attractive Appearance, Reliable Quality, Competitive Cost Performance and Satisfactory Experience”, advance high‑ end serialization, mid‑ end differentiation and cost‑ oriented positioning for low‑ end product lines, and streamline SKUs; keep scaling up R&D investment, strengthen forward‑ looking planning for technical pre‑ research and product development, deepen core technologies including fresh‑ keeping, cleanliness, intelligence, energy conservation and frequency conversion, and steadily reinforce product competitiveness; unify brand visual identity, implement systematic management of product IPs, expand AI application across manufacturing and business scenarios, and boost smart manufacturing capabilities; unlock full‑ value‑ chain potential to improve cost‑ efficiency and human resource efficiency, and secure steady growth in overall operational efficiency..

1. Refrigerator (Freezer) industry The Company will push forward all work consistently under the strategy of “Strengthen

Products, Optimize Channels, Attract Users and Improve Efficiency”. In terms of products, focus on intensive promotion of mid-tier products including Songya, Great Whale and Little Certainty. Closely track consumption trends, continuously advance the optimization and upgrading of product structure and strengthen product leadership. In terms of channels, taking improved retail capacity as the core objective, continuously expand market share online; implement strategies of classified operation, targeted breakthroughs, quality improvement and performance enhancement offline, consolidate cooperation with key customers and lift terminal operation capacity. In terms of marketing promotion, fully mobilize the efficiency of frontline marketing teams, continuously advance the development of Meiling brand IP, coordinate the allocation of brand resources and enhance brand influence and reputation. In terms of operation, adhere to the user-oriented principle and optimize the “R&D, production and sales” management system based on customer satisfaction. Actively explore emerging markets, accelerate the growth of brand business and further push forward e-commerce transformation.

1. Air conditioning industry Guided by user demand, driven by product innovation, supported by channel coordination

and rooted in brand building, the Company will steadily carry out all operational work. In terms of products, pursue iterative upgrading focusing on AI (voice control, human sensing, display) and health technologies (negative ions, fresh air, etc.), optimize product platforms, fill gaps in product categories, and continuously raise product technological added value and user experience. In terms of markets, adhere to diversified channel coordination and build an ecological system featuring mutual benefit and win-win results. Improve operational efficiency offline, implement refined hierarchical operation online, concentrate resources to develop high-quality customer resources and establish stable strategic partnerships. Continuously build a marketing system enabling direct brand access to users, diversify user touch scenarios and strengthen full-cycle user operation and management. Accurately grasp market rhythms, optimize sales strategies and boost retail performance in peak seasons. Achieve balanced and optimized global regional layout, deepen cooperation with existing core customers, develop new customers, cultivate high-quality medium-sized clients, and build a diversified global customer system with strong risk resistance.

1. Washing machine industry Firmly implement the business philosophy of “Focused Breakthrough and Systematic

Integration”. In terms of products, for front-loading washing machines, establish the brand perception of “full self-cleaning” relying on internal and external full self-cleaning technologies, build a full self-cleaning product matrix via AI, hand-wash simulation and other technologies to strengthen differentiated product competitiveness. For top-loading washing machines, launch brand-new flat-embedded and large-drum products to enrich the mid-to-high-end product lineup. Continuously press ahead with the development of the second-generation flat-embedded front

loaders and clothes dryers, develop serialized washer-dryer combos to meet demands of different customers and lift comprehensive product competitiveness. In terms of markets, continuously strengthen channel capacity building. E-commerce channels focus on professional operation and content promotion to achieve growth breakthroughs; basic channels consolidate market foundations through network expansion and in-depth customer development; sinking channels tap incremental potential via launch of exclusive products; KT channels drive performance growth by improving efficiency of large stores. Meanwhile, advance professional capacity building to lift terminal conversion efficiency. Cooperate with key customers to deepen marketing collaboration, leverage new media operation to accelerate the integration of online and offline brand development, and comprehensively boost brand market penetration and influence.

4. Major kitchen appliance and small home appliance industry

Deepen deployment in core kitchen and drinking water scenarios to drive steady business growth. In terms of products, consolidate advantages in drinking water appliances, further develop water purification business, promote serialized product layout, iterate AI kitchen and whole-house water system solutions, strengthen differentiated technological barriers, and raise product premium capacity and market competitiveness. In terms of channels, deepen coordinated omni-channel operation online and offline. Strengthen content marketing and refined livestream e-commerce operation online; push forward channel sinking and terminal upgrading offline, continuously upgrade scenario experience stores and create immersive consumption experience. In terms of services, comprehensively advance AI-enabled digital transformation of business, continuously optimize user service experience and consolidate brand reputation.

1. Biomedical industry The Company will continue to seize development opportunities in the life science sector,

thoroughly implement the business philosophy of “technology-based, product-based, market-oriented and customer-centered development”, unswervingly pursue the product coordination strategy of “vertically expanding sample banks and horizontally expanding laboratories”, and strive to achieve high-quality development featuring balanced growth in business scale and quality across all segments.

XI. Formulation and Implementation of Market Value Management System and Valuation Boost Plan

Has the Company established a market value management system?

□ Yes √ No Has the Company disclosed plans for valuation increase? √ Yes □ No

From February 27, 2025, to February 27, 2026, Changhong Meiling's B-share stock has closed below the most recent audited net assets per share attributable to the shareholders of the listed company for each trading day over the past 12 months. According to the Listed Company Supervision Guidelines No. 10 – Market Value Management, this situation requires the formulation of a valuation enhancement plan. The 28th meeting of the 11th Board of Directors of the Company approved the Proposal on the B-Share Valuation Enhancement Plan.

For the year 2026, the Company plans to enhance its investment value through improving its operational capabilities, establishing a sound medium- and long-term incentive mechanism, cash dividends, strengthening investor relations management, and ensuring the quality of information disclosure.

For specific details, please refer to the Announcement of Changhong Meiling Co., Ltd. on B-share Valuation Enhancement Plan (Announcement No.: 2026-022) disclosed on April 3, 2026, on the Juchao Website (www.cninfo.com.cn) and other designated information disclosure media.

XII. Implementation of the Action Plan of “Double Improvement of Quality and Return”

Has the Company disclosed the action plan of "double improvement of quality and return”?

□ Yes √ No

Section IV Corporate Governance, Environmental and Social Responsibility

• I. Changes in directors and senior executives √ Applicable □ Not applicable

Compliance Officer

of the Company and no longer holds any other positions. She is now employed by the controlling shareholder's related unit.

• II. Profit distribution and capital reserve-to-share capital conversion during the

reporting period

□ Applicable √ Not applicable The Company plans not to distribute cash dividends, issue bonus shares, or increase share

capital by transferring capital reserves for the semi-annual period.

III. Implementation of the Company’s Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures

□ Applicable √ Not applicable During the reporting period, the Company had no equity incentive plans, employee stock

ownership plans, or other employee incentive measures, nor any implementation thereof. IV. Environmental Information Disclosure Whether the listed company and its major subsidiaries are included in the list of enterprises

legally required to disclose environmental information √ Yes □ No

V. Social Responsibility

During the reporting period, Changhong Meiling Industrial Study Tour was themed “Technology Learning and Smart Manufacturing for the Future.” By integrating smart manufacturing site visits with hands-on labor practice experiences, the program covered smart factory exploration, innovation center demonstrations, scientific experiments, and immersive study tour workshops. During the reporting period, the Company hosted students from 60 schools and institutions for study tour activities. With its unique innovative “Industry + Public Welfare” model, the program was successfully selected as one of the “Top Ten Industrial Study Tour Routes in Anhui Province” and has become a benchmark case for industrial-themed study tours in Anhui Province. Zhongke Meiling, a subsidiary of the Company, awarded special scholarships totaling RMB 550,000 to students at domestic universities. To date, it has awarded cumulative special scholarships totaling RMB 2.7 million.

Section V Important Events

I. Commitments completed during the reporting period and unfulfilled commitments overdue as at the end of the reporting period by relevant promising parties including the Company’s actual controller, shareholders, related parties, acquirers and the Company

□ Applicable √ Not applicable During the reporting period, there existed no commitments completed during the reporting

period or unfulfilled commitments overdue as at the end of the reporting period made by relevant promising parties including the Company’s actual controller, shareholders, related parties, acquirers and the Company.

II. Non-Operational Fund Occupation from Controlling Shareholders and Its Related Party

□ Applicable √ Not applicable

No non-operational fund occupation from controlling shareholders and its related party in the reporting period.

III. External Guarantee out of the Regulations

□ Applicable √ Not applicable No external guarantee out of the regulations occurred in the reporting period.

IV. Appointment and Dismissal of Accounting Firms Whether the semi-annual financial report has been audited

□ Yes √ No The Company’s semi-annual report has not been audited.

V. Explanation by the Board of Directors on the “Non-standard Audit Report” Issued

by the Accounting Firm for the Current Reporting Period

□ Applicable √ Not applicable

VI. Explanation by the Board of Directors on Matters Relating to the “Non-standard

Audit Report” of the Previous Year

□ Applicable √ Not applicable

VII. Matters Related to Bankruptcy Reorganization

□ Applicable √ Not applicable The Company did not experience any matters related to bankruptcy reorganization during the

reporting period.

VIII. Litigation Matters (I) Major litigation and arbitration matters √ Applicable □ Not applicable

Note: The Company's shareholding in Zhiyijia is 50%, and the products are sold through Zhiyijia's smart trading platform. The customers, channels and sales transactions corresponding to the products sold are controlled and docked by the company itself, and the external transaction object is Zhiyijia, and related party transactions are formed between the Company and Zhiyijia. In terms of payment settlement, the Company and Zhiyijia follow the principle of "external customer account period is Zhiyijia's account period to the Company, and external customer payment is Zhiyijia's payment to the Company, which is not allowed to be remained or transited at Zhiyijia". The amounts involved in this case are all accounts receivable and liquidated damages for overdue payment caused by the Company's sales through the smart trading platform of Zhiyijia, but the subject of the agreement is Zhiyijia, and this lawsuit will be filed by Zhiyijia. The Company and its associate Zhiyijia will claim their legitimate rights and interests according to law and actively take relevant measures to safeguard the legitimate rights and interests of the Company, Zhiyijia and the investors.

(II) Other litigation matters

• □ Applicable √ Not applicable

• IX. Penalty and Rectification

• □ Applicable √ Not applicable No penalties or rectification matters occurred to the Company during the reporting period.

X. Integrity of the Company and Its Controlling Shareholders and Actual Controllers

□ Applicable √ Not applicable

XI. Major Related Party Transaction

• (I) Related party transaction with routine operation concerned √ Applicable □ Not applicable

(II) Related party transactions arising from asset or equity acquisitions and disposals

□ Applicable √ Not applicable No related party transactions involving asset or equity acquisitions or disposals occurred

during the reporting period.

(III) Related party transactions involving joint external investments

□ Applicable √ Not applicable No related party transactions involving joint external investments occurred during the

reporting period.

(IV) Related party creditor’s rights and debts √ Applicable □ Not applicable Whether there are non-operating related party creditor’s rights and debts

□ Yes √ No There were no non-operating related party creditor’s rights and debts during the reporting

period.

(V) Transactions with financial companies with related party relationships √ Applicable □ Not applicable Deposit business

Credit facilities or other financial services

• Note 1: Zhongke Meiling, a subsidiary of the Company, is a company listed on the Beijing

Stock Exchange. For its transactions with related financial companies, please refer to Zhongke Meiling’s 2026 Semi-Annual Report.

• Note 2: As of the end of the reporting period, Changhong Finance Company had a registered

capital of RMB 2,693,938,365.84. The Company and Changhong Huayi each held 14.96% equity interests in Changhong Finance Company, while the Company’s controlling shareholder, Sichuan Changhong Electric Co., Ltd., and its controlling shareholder, Sichuan Changhong Electronics Holding Group Co., Ltd., each held 35.04% equity interests in Changhong Finance Company.

• Note 3: On October 16 and November 3, 2023, the Company convened the 35th meeting of

• the 10th Board of Directors and the 2nd extraordinary general meeting of shareholders of 2023, respectively, and approved the continuation of financial service cooperation with Changhong Finance Company and the renewal of the Financial Services Agreement for a term of three years. Within its business scope, Changhong Finance Company provides a series of financial services, including deposit and loan services, to the Company and its subsidiaries (excluding Zhongke Meiling and its subsidiaries) in accordance with their requirements.

• Note 4: At the 24th meeting of the 11th Board of Directors held on November 27, 2025 and

the 3rd Extraordinary General Meeting of Shareholders held on December 16, 2025, the Proposal on Estimating Continuing Connected Transactions between the Company and Its Subsidiaries and Sichuan Changhong Group Finance Co., Ltd. in 2026 was reviewed and approved. The estimated amount of connected transactions involving financial services such as deposits, loans, credit lines,

bill issuance, bill discounting and letter of guarantee business between the Company and its subsidiaries (excluding Zhongke Meiling and its subsidiaries) and Changhong Finance Company in 2026 was determined.

(VI) Transactions between the Company’s controlled financial company and related parties

□ Applicable √ Not applicable The Company does not hold any controlling financial company and has no deposit, loan,

credit line or other financial businesses with connected parties. (VII) Other significant related party transactions

□ Applicable √ Not applicable XII. Significant Contracts and Their Performance

(I) Custody, contracting, and leasing

• 1. Custody

□ Applicable √ Not applicable The Company had no custody arrangements during the reporting period.

• 2. Contracting

□ Applicable √ Not applicable The Company had no contracting arrangements during the reporting period.

• 3. Leasing √ Applicable □ Not applicable Description of leasing arrangements

For the Company’s operating lease arrangements, please refer to the relevant contents under “Investment Property”, “Fixed Assets”, “Right-of-Use Assets”, “Leases to Related Parties”, and “Leases from Related Parties” in the notes to the financial statements.

Projects generating profit or loss accounting for more than 10% of the Company’s total profit during the reporting period

□ Applicable √ Not applicable

The Company had no leasing projects generating profit or loss accounting for more than 10% of its total profit during the reporting period.

(II) Significant guarantees √ Applicable □ Not applicable

Unit: RMB 10,000