2025 Annual Report
First Section Important Notes, Table of Contents, and Explanation
The board of directors and senior management ensure the truthfulness, accuracy, and completeness of the annual report. There are no false records, misleading statements, or significant omissions, and they bear legal responsibility for this.
The person responsible for the company, Chen Qian, and the main accounting personnel, Zhu Xue, confirm that the financial statements in this annual report are true, accurate, and complete. All directors have signed to approve the report.
This annual report discusses the development strategy and operational plans, including the company's investment quality and risk identification, and requests investors to pay attention to investment risks.
The company faces major risks related to raw material price fluctuations, market policy risks, and safety environmental risks, urging large investors to pay attention to investment risks. Detailed content can be found in the report's "Third Section Management Discussion and Analysis."
The company’s next board meeting will discuss the profit distribution proposal, which is to distribute dividends based on the total number of shares held by shareholders registered in the company's stock account as of the record date, with a dividend of 1.00 yuan (tax included) for every 10 shares, and no bonus shares will be issued.
Table of Contents
- Important Notes, Table of Contents, and Explanation .......................................................... 2
- Company Profile and Key Financial Indicators .................................................................. 7
- Management Discussion and Analysis ................................................................................. 11
- Corporate Governance, Environment, and Society ............................................................ 34
- Important Matters ................................................................................................................ 51
- Share Capital Changes and Stock Situation .................................................................... 66
- Related Party Transactions ................................................................................................. 74
- Financial Report .................................................................................................................... 75