Important Notes, Directory, and Definitions
The Board of Directors and senior management of the company guarantee the authenticity, accuracy, and completeness of the annual report, ensuring there are no false records, misleading statements, or significant omissions, and they bear individual and joint legal responsibility. The responsible person, Xia Jun, the head of accounting, Yu Yonghua, and the head of the accounting institution (accounting supervisor), Diao Haifeng, declare: they guarantee the authenticity, accuracy, and completeness of the financial report in this annual report. All directors have attended the board meeting to review this report. The forward-looking statements regarding future plans in this report do not constitute substantial commitments to investors; investors and related parties should maintain adequate risk awareness and understand the differences between plans, forecasts, and commitments. Investors are advised to pay attention to investment risks. The section "11. Outlook for Future Development" in "Section 3 Management Discussion and Analysis" details the main risks and countermeasures the company may face during its operations. There are no other significant risk factors that may severely adversely affect the company's production, financial status, and sustainable profitability. The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves. As of the end of the reporting period, the parent company has unremedied losses. The undistributed profits in the parent company's balance sheet amount to -2,388,931,851.15 CNY, and the consolidated balance sheet shows undistributed profits of -1,701,632,064.26 CNY. According to the provisions of the Articles of Association, the company does not meet the conditions for cash dividends in 2025, thus no cash dividends will be distributed, no bonus shares will be issued, and no capital increase from reserves will occur.
Directory
- Important Notes, Directory, and Definitions ......................................................................................................... 1
- Company Profile and Key Financial Indicators ..................................................................................................... 6
- Management Discussion and Analysis ............................................................................................................... 10
- Corporate Governance, Environment, and Society ............................................................................................... 52
- Important Matters ............................................................................................................................................... 79
- Changes in Shares and Shareholder Information ............................................................................................... 100
- Bond-Related Information .................................................................................................................................. 107
- Financial Report ................................................................................................................................................ 108
Documents for Reference
- Financial statements signed and stamped by the legal representative, head of accounting, and head of the accounting institution;
- Original audit report stamped by the accounting firm and signed by registered accountants;
- All original documents and announcements publicly disclosed during the reporting period;
- Other relevant materials.