Huaming Power Equipment Co., Ltd.

During the reporting period, the company achieved revenueof RMB 2.427 billion, a year-on-year increase of 4.5%. Net profit attributable to shareholders of the listed company was RMB 710 million, up 15.54% year on year. Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was RMB 671 million, a year-on-year increase of 15.27%. After further deducting share-based payment expenses, the net profit attributable to shareholders of the listed company after deducting non-recurring profits and losses wasRMB 709 million, up 21.79% year on year. Net cash flow from operating activities reached RMB 604 million. In 2025, the revenue of the company’s power equipment business was RMB 2.102 billion, a year-on-year increase of 16.05%. The company has established in-depth partnerships with major domestic transformer manufacturers, capitalizing on its advantages in technology, cost and delivery capacity to share the dividends of the global market. Meanwhile, it has actively promoted global layout: the establishment of its regional headquarters in Singapore, the official commissioning of its Indonesian factory, and the stable operation of its Turkish factory have built a three-dimensional overseas network covering production, sales and services, significantly enhancing market responsiveness and customer trust. The business achieved rapid growth in Europe, Brazil, North America and other regions. For the full year, direct and indirect export revenue of power equipment reached RMB 714 million, a year-on-year growth of 47.37% The CNC equipment business recorded revenue of RMB 244 million in 2025, up 39.86% year on year, of which export revenue was RMB 112 million, up 229.8% year on year. The brand and quality of the Company’s CNC equipment have been highly recognized in the international market. The company strategically scaled down its power engineering business with relatively low gross margin, steadily promoting the completion and settlement of existing power engineering projects to ensure a smooth and orderly exit. In 2025, the revenue of power engineering was RMB 29 million, a year-on-year decrease of 89.93%. Going forward, the company will further optimize resource allocation, concentrate capital, human and management resources on core main businesses with stronger competitiveness and long-term growth potential, and continuously improve overall profitability and development quality. In 2025, the company successfully seized the opportunities brought by the global energy and power transformation. Through the combined strategy of “expanding overseas production capacity, optimizing business structure, and advancing high-end substitution”, it achieved a leapfrog improvement in operational quality with sound financial performance and abundant cash flow. The company also actively rewarded shareholders and employees through high dividend distributions and equity incentives.