2025 Annual President's Work Report
President: Ma Lin
Dear Directors,
2025 is a year filled with challenges and opportunities in the company's transformation and development process. In the face of global economic fluctuations, ongoing supply-demand imbalances in the photovoltaic industry, and adjustments in the order structure of smart manufacturing, all Baoxin employees have risen to the challenge and actively sought change. Under the correct leadership of the Board of Directors, the management strictly adheres to the Company Law, Securities Law, and other laws and regulations, as well as the Articles of Association, faithfully and diligently fulfilling their responsibilities and resolutely executing the resolutions of the shareholders' meeting and the Board of Directors. I now report to the Board on the work situation for 2025 on behalf of the management team.
I. Report on the Rebirth During the Transformation Period in 2025
During the reporting period, the company adhered to the dual-drive strategy of "smart manufacturing + new energy," focusing on enhancing core competitiveness, actively promoting asset optimization, business transformation, and innovative breakthroughs. Against the backdrop of a deep adjustment in the industry cycle, the company adopted a market-oriented and customer-centric approach, strengthened internal management, revitalized existing resources, and explored emerging fields to achieve steady recovery in operational quality and efficiency. The entire company worked together to concentrate and release historical legacy risks, aiming for better progress on the transformation path in 2026 and beyond. In 2025, the company achieved operating revenue of approximately 230 million yuan (a year-on-year decline); the net profit attributable to shareholders of the listed company was approximately -214 million yuan (a year-on-year narrowing); total assets were around 1.5 billion yuan.