Meiling'S First Dividend After 11 Years

In December 21st, Sichuan Changhong (600839.SH) holding 22.16% of MeiLing electric appliances (000521.SZ) Dong Mili Xia said in an interview with reporters that MeiLing will make profit distribution plans this year according to regulatory requirements and articles of association.

Li Xia told reporters that because of the arrest of Gu Chujun, the former chairman of the company, the loss of MeiLing electric appliances totaled 500 million yuan in 2002-2005 years. In 2006-2009 years, the company has made up its previous losses with its own profits. At the end of 2009, the company still accumulated a deficit of 34 million 610 thousand yuan after making up the accumulated undistributed profits. In 2010, the company made up the surplus deficit with surplus provident fund.

"That is to say, the company's profit is surplus this year and it has the conditions of dividends.

Moreover, the company amended its articles of association in April 2009 to impose mandatory cash dividends, so the company will definitely pay dividends this year when the company already has the dividend.

Li Xia said.

According to the company announcement, the company has not paid dividends for 11 consecutive years.

According to the three quarterly report, the company achieved operating income of 6 billion 898 million yuan in the first three quarters of this year, up 31.56% compared to the same period last year, and realized net profit of 298 million yuan, up 60.67% compared to the same period last year. The undistributed profit was 300 million yuan, 967.7% more than that of the end of 2009.