Hangzhou Hetai Electromechanical Co., Ltd.
2025 Annual Board of Directors Work Report
In 2025, the Board of Directors of Hangzhou Hetai Electromechanical Co., Ltd. (hereinafter referred to as "the Company") strictly adhered to the requirements of the Company Law of the People's Republic of China (hereinafter referred to as "the Company Law"), the Securities Law of the People's Republic of China (hereinafter referred to as "the Securities Law"), and the Self-Regulatory Guidelines for Listed Companies No. 1 - Standardized Operations for Main Board Listed Companies of the Shenzhen Stock Exchange (hereinafter referred to as "the Standardized Operations Guidelines"), as well as the provisions of the Articles of Association, the Rules of Procedure for Shareholders' Meetings, and the Rules of Procedure for Board Meetings. With a responsible attitude towards all shareholders, the Board effectively fulfilled the responsibilities entrusted by the shareholders' meeting, strictly executed the resolutions of the shareholders' meeting, continuously standardized the corporate governance system, and effectively maintained and safeguarded the interests of the Company and all shareholders.
Now presents 2025 Annual Board of Directors Work Report as follows: I. 2025 Annual Business Overview In 2025, the real estate industry continued to show weak recovery and the development trend supported by infrastructure was limited. The domestic demand for cement in the industry continued to decline, and production continued to drop. The new production capacity was restricted, leading to sustained pressure on the demand for the Company's conveying equipment products. The market competition environment became increasingly severe. However, at the same time, the structural growth opportunities in overseas markets and other downstream application fields became prominent.