Jiangsu Zhongli Group Co., Ltd.
2025 Annual Report of the Board of Directors
In 2025, the international situation was characterized by intertwined turmoil and escalating geopolitical conflicts, with a slow and uneven global economic recovery and insufficient growth momentum. The cable industry faced increasingly fierce market competition, resulting in generally low profitability and a critical phase of structural adjustment and transformation. The photovoltaic industry, in particular, was challenged by overcapacity and profitability difficulties, making a transition from "scale expansion" to "high-quality development" imperative. In the face of complex and volatile domestic and international circumstances, the company maintained its strategic focus, concentrating its advantages to strengthen its core businesses. On one hand, it closely followed its strategic objectives to identify market opportunities, deepen its global market layout, and prioritize product technology research and innovation. On the other hand, it continued to strengthen its risk management system and improve operational management, leveraging digital applications and financial empowerment to drive efficient operations and high-quality development. The Board of Directors' main work report for 2025 is as follows:
I. Company Operations in 2025
In 2025, the company achieved operating revenue of RMB 2.341 billion, a year-on-year decrease of 0.72%. The net loss attributable to the parent company was RMB 0.057 billion, a decrease in loss of RMB 1.117 billion compared to the previous year. During the reporting period, the photovoltaic industry experienced intensified competition and weak market demand. Coupled with the impact of international trade protectionist policies, the company's photovoltaic business faced limitations in market expansion and insufficient profitability, resulting in an overall loss. The company significantly reduced its losses by improving operational management, implementing cost reduction and quality improvement measures, divesting inefficient and non-performing assets, and enhancing asset quality. As of the end of 2025, the company's total assets were RMB 4.601 billion, and the owners' equity attributable to the parent company was RMB 1.827 billion.
II. Key Focus Areas for the Board of Directors in 2025
In 2025, the company successfully completed the restructuring and election of the Board of Directors, adjusted the management team, introduced advanced management concepts, improved the operational decision-making mechanism, and focused on strategic goals. The company concentrated on developing its core business, enhancing lean operations, deepening technological and financial empowerment in management, and building a strong foundation for development.
- Focusing on Core Business for Quality and Efficiency Improvement, Accelerating Global Expansion
(1) Cable Business — Steady Progress, Internal and External Enhancement for Growth
The company flexibly allocated its advantageous resources and made efforts in multiple market segments. In terms of railway cables, the company secured contracts for major domestic railway projects exceeding RMB 300 million, demonstrating its comprehensive strength and paving the way for further expansion into other national infrastructure markets.