Changhong Meiling appoints new president, approves subsidiary capital increase

Changhong Meiling Co., Ltd. held its 21st meeting of the 11th board of directors on September 11, 2025, approving several key resolutions. Mr. Tang Youdao was appointed as the company's new president, with his term commencing from the board's approval until the end of the current board's tenure. Mr. Tang, holding 800,000 A-shares, has a background in marketing and management within the company.

The board also approved a capital increase for Sichuan Changhong Air Conditioner Co., Ltd.'s subsidiary, Hongyuan Heat Pump Technology (Zhongshan) Co., Ltd. Sichuan Changhong Air Conditioner will inject 95 million yuan into Hongyuan Heat Pump Technology, increasing its registered capital from 50 million yuan to 105.1908 million yuan. Hongyuan Heat Pump Technology will then inject 95 million yuan into its wholly-owned subsidiary, Hongyuan Heat Pump Technology (Zhongshan) Co., Ltd., raising its registered capital from 45 million yuan to 105.4556 million yuan.

Additionally, the board appointed Ms. Xiao Li as the company’s securities affairs representative and resolved to convene the 2025 First Extraordinary General Meeting of Shareholders on September 29, 2025, to discuss amendments to the articles of association and other proposals.