2025 Semi-Annual Report

Important Notes, Directory, and Definitions

The Board of Directors, Supervisory Board, and the directors, supervisors, and senior management of the company guarantee that the content of the semi-annual report is true, accurate, and complete, with no false records, misleading statements, or major omissions, and bear individual and joint legal responsibilities. The person in charge of the company, Chen Heng, the person in charge of accounting work, Yin Jun, and the head of the accounting institution (accounting supervisor), Qiao Songyou, declare: they ensure the truthfulness, accuracy, and completeness of the financial report in this semi-annual report.

Is there a situation where some directors did not personally attend the board meeting to review this semi-annual report? ☑ Yes □ No Except for the following directors, other directors attended the board meeting to review this semi-annual report in person.

The company has detailed the risks it may face during its operations and the corresponding measures in Section 3 "Management Discussion and Analysis" under "Risks and Responses." Investors are advised to pay attention to the relevant content. The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves.

Directory

1. Important Notes, Directory, and Definitions ....................................................................................... 2
2. Company Profile and Key Financial Indicators .................................................................................. 6
3. Management Discussion and Analysis ................................................................................................ 9
4. Corporate Governance, Environment, and Society ........................................................................... 15
5. Important Matters ............................................................................................................................ 16
6. Changes in Shares and Shareholder Information ............................................................................. 20
7. Bond-Related Information ............................................................................................................... 25
8. Financial Report ................................................................................................................................ 26
9. Other Submitted Data ...................................................................................................................... 96

Documents for Reference

1. Resolutions of the 9th Meeting of the 9th Board of Directors;
2. Resolutions of the 7th Meeting of the 9th Supervisory Board;
3. Financial reports signed and sealed by the company's legal representative, the person in charge of accounting work, and the head of the accounting institution (accounting supervisor);
4. Originals of all company documents publicly disclosed on the information disclosure platform designated by the China Securities Regulatory Commission during the reporting period.

Definitions