Group 1: Stock Performance and Market Reactions - Power stocks declined across the board, with Huadian International down 5.86%, Longyuan Power down 3.62%, Huaneng International down 1.98%, and China Resources Power down 2.15% [1] - Shoucheng Holdings fell nearly 6% after reporting a revenue of HKD 1.437 billion for 2025, an increase of 18.24% year-on-year, and a proposed final dividend of HKD 0.0047 per share [1] - Meili Tianyuan Medical Health dropped over 11% post-earnings, with a year-to-date decline exceeding 30%, despite reporting a revenue of approximately CNY 3 billion, a 16.7% increase year-on-year [2] - Brilliance China experienced a drop of over 10%, reporting a revenue of CNY 1.182 billion for 2025, a 7.84% increase, but a net profit decline of 35.97% [2] - Photovoltaic stocks fell sharply, with Xinte Energy down 6.09% and Junda Co. down 5.04%, following the announcement of a 9% VAT export tax rebate cancellation on solar products [2] Group 2: Company Earnings and Financial Results - Muyuan Foods reported a revenue of CNY 144.145 billion for the year, a slight increase of 4.49%, but a net profit decline of 13.39% [3] - Yadea Holdings saw a rise of over 5% after announcing expected net profits of no less than CNY 2.9 billion for 2025, compared to CNY 1.27 billion in 2024 [3] - CRRC Corporation reported a revenue of CNY 273.063 billion for 2025, a 10.79% increase, but a net profit increase of only 6.40% [4] - Angelalign reported a total case count of 532,400 for 2025, a 48.1% increase, with revenue rising 37.8% to USD 370 million and net profit increasing 163% to USD 26.3 million [4] - Weigao Group's revenue was approximately CNY 13.389 billion, a 2.3% increase, but net profit fell by 22% [4] Group 3: Market Trends and Economic Indicators - Precious metals sector strengthened, with Coeur Mining up 5.94% and Pan American Silver up 4.13%, as gold prices surged over 3% to USD 4,538.25 per ounce [5] - Argan's stock surged 37.91% after reporting Q4 revenue of USD 262.1 million, exceeding market expectations [5] - Unity Software rose 13.54% after strong Q1 2026 financial performance expectations, with projected revenue between USD 505 million and USD 508 million [6] - AstraZeneca's stock increased by 2.74% following the approval of a new treatment for breast cancer in China [8] - Major U.S. indices opened lower, with the Nasdaq down 0.8%, as concerns about economic downturns increased due to geopolitical tensions [8]

Financial Performance - Revenue for the year ended December 31, 2025, was RMB 1,181,922 thousand, representing an increase of 7.9% from RMB 1,095,949 thousand in 2024[3] - Gross profit decreased to RMB 163,486 thousand, down 15.6% from RMB 193,880 thousand in the previous year[3] - Net profit for the year was RMB 1,862,209 thousand, a decline of 38.8% compared to RMB 3,045,624 thousand in 2024[4] - Basic and diluted earnings per share were RMB 0.39357, down from RMB 0.61465 in the previous year[4] - Total comprehensive income for the year amounted to RMB 3,265,403 thousand, an increase of 55.7% from RMB 2,098,327 thousand in 2024[5] - Total revenue for the year was RMB 1,181,922,000, compared to RMB 1,095,949,000 in the previous year, indicating an overall increase of approximately 8%[15] - The group's profit before tax decreased by approximately 48.9%, from RMB 4.52 billion in 2024 to RMB 2.31 billion in 2025, with net profit attributable to shareholders falling by about 36.0%[58] Assets and Liabilities - Cash and cash equivalents decreased significantly to RMB 4,500,027 thousand from RMB 10,539,550 thousand in 2024, a drop of 57.3%[6] - Current assets totaled RMB 7,748,710 thousand, down from RMB 13,419,613 thousand in the previous year, indicating a decrease of 42.3%[6] - Total assets less current liabilities were RMB 22,105,396 thousand, down from RMB 27,270,066 thousand in 2024, a decline of 19.1%[6] - The company's equity attributable to shareholders decreased to RMB 21,026,520 thousand from RMB 26,060,978 thousand, a reduction of 19.3%[7] - Non-controlling interests also decreased to RMB 913,426 thousand from RMB 1,036,903 thousand, reflecting a decline of 12.0%[7] - The total assets of the group decreased from RMB 29.11 billion in 2024 to RMB 23.58 billion in 2025, reflecting a decline in overall financial health[61] Revenue Segments - Revenue from non-BMW vehicles and auto parts reached RMB 1,035,454,000 in 2025, up from RMB 893,092,000 in 2024, representing a growth of approximately 16%[15] - Sales in China accounted for RMB 885,510,000 in 2025, an increase from RMB 751,784,000 in 2024, reflecting a growth of around 18%[16] - The company identified three operating segments: manufacturing and sales of non-BMW vehicles and auto parts, manufacturing and sales of BMW vehicles and parts, and providing automotive financial services[19] Costs and Expenses - The company reported a significant increase in employee costs, totaling RMB 346,439 thousand in 2025 compared to RMB 258,311 thousand in 2024[24] - Research and development costs rose to RMB 107,144 thousand in 2025, up from RMB 55,250 thousand in 2024, indicating a focus on innovation[24] - General and administrative expenses are projected to increase from RMB 528.6 million in 2024 to RMB 631.9 million in 2025, representing a growth of approximately 19.5%[55] - The share of general and administrative expenses as a percentage of revenue is expected to rise from about 48.2% in 2024 to approximately 53.5% in 2025, primarily due to increased impairment losses and R&D costs[55] Taxation - The total income tax expense for 2025 is RMB 446,314,000, a significant decrease from RMB 1,474,278,000 in 2024[30] - The effective tax rate for 2025 is calculated at 25.7%, compared to 25.46% in 2024, based on the weighted average statutory tax rate in China[30] Investments and Joint Ventures - The group increased its equity interest in Jinbei Shenyang from 80.72% to 87.3364% through a cash investment of RMB 500 million, with Jinbei Shenyang's total asset value accounting for approximately 9.9% of the group's total assets[65] - The group's investment in BMW Brilliance amounted to RMB 344 million, with a book value of RMB 11.24 billion, representing about 48% of the group's total assets; the group's share of profit from BMW Brilliance was RMB 2.597 billion, a decrease of 40.5% year-on-year[66] - The joint venture Yuxin, established with TCL, focuses on developing smart cockpits and display components, with the first products expected to enter mass production in the second half of 2025[67] Market and Industry Trends - In 2025, China's GDP growth is expected to meet targets, supporting the automotive industry's development, with total vehicle production and sales exceeding 34.4 million units, maintaining its position as the world's largest automotive market for the 17th consecutive year[40] - New energy vehicle (NEV) sales reached 16.49 million units in 2025, a year-on-year increase of approximately 28.2%, with a penetration rate in the passenger car market rising to about 47.9%[40] Corporate Governance - The company is committed to maintaining the highest standards of corporate governance, ensuring compliance with applicable laws and regulations[92] - The audit committee has reviewed the accounting principles and practices used by the group, discussing matters related to auditing, internal controls, and financial reporting for the fiscal year ending December 31, 2025[93] - The auditors confirmed that the preliminary performance announcement figures are consistent with the draft consolidated financial statements for the fiscal year ending December 31, 2025[94] Employee and Workforce - As of December 31, 2025, the group employed approximately 2,080 employees, an increase from about 1,600 employees as of December 31, 2024[76] - Employee costs for the year ended December 31, 2025, amounted to RMB 346,400,000, compared to RMB 258,300,000 for the year ended December 31, 2024[76]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 佈 全 部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LIMITED （華晨中國汽車控股有限公司 ）* （於百慕達註冊成立之有限公 司） （股份代 號：1114） 董事會會議通知 華 晨 中 國 汽 車 控 股 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 宣 佈 將 於 二 零 二 六 年 三 月 二 十 七 日（ 星 期 五 ）在 香 港 中 環 美 利 道2號 The Henderson 33樓3303 室 舉 行 董 事 會 會 議，藉 以（ 其 中 包 括 ）考 慮 及 批 准 本 公 司 及 其 附 屬 公 司 截 至 二 零 二 五 年 十 二 月 三 十 一 日 止 年 度 之 綜 合 財 務 業 績。 承董事會命 Brilliance China Automotive Holdings Limite ...

（華晨中國汽車控股有限公司 ）* （於百慕達註冊成立之有限公 司） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 佈 全 部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LIMITED 1 由 於 本 公 司 仍 在 落 實 截 至 二 零 二 五 年 十 二 月 三 十 一 日 止 年 度 之 年 度 業 績，故 本 公佈所載資料僅基於本公司管理層參考現有未經審核管理賬目而作出之初步評 估，有 關 賬 目 於 進 一 步 內 部 審 閱 後 或 有 調 整。有 關 本 集 團 表 現 之 進 一 步 詳 情 將 於本公司截至二零二五年十二月三十一日止年度之初步綜合財務業績公佈內 披 露，本 公 司 將 遵 照 上 市 規 則 之 規 定 於 二 零 二 六 年 三 月 底 或 之 前 發 表 該 業 績 公 佈。 股 東 及 潛 在 投 資 者 於 買 賣 本 公 司 股 份 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: Brilliance China Automotive Holdings Limited (於百慕達註冊成立之有限公司) 呈交日期: 2026年3月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01114 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 8,000,000,000 | USD | | 0.01 USD | | 80,000,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 8,000,000,000 | USD | | 0.01 ...

Group 1 - The core viewpoint of the news is that Hong Kong automotive stocks have collectively risen, with significant gains observed in companies like BYD, Chery, and others, following a meeting held by the Ministry of Commerce regarding automotive consumption policies for 2026 [1] - The Ministry of Commerce plans to implement a series of measures to boost automotive consumption, including optimizing the vehicle trade-in program and conducting pilot reforms in automotive circulation [1] - Analysts interpret the signals from the Ministry's meeting as positive, viewing it as a "starting gun" for supportive automotive consumption policies in 2026, which provides a clear expectation for industry support and structural growth direction [1] Group 2 - BYD shares rose approximately 4% to a latest price of 96.950, while Chery Automotive increased by over 2% to 28.620 [2] - Other automotive companies also saw gains, with Li Auto up 1.39%, Leap Motor up 1.41%, NIO up 1.29%, and Geely up 1.15% [2] - The overall positive sentiment in the automotive sector is reflected in the stock performance of various companies, indicating investor confidence in future growth driven by government policies [1][2]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 FF301 第 1 頁 共 10 頁 v 1.2.0 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: Brilliance China Automotive Holdings Limited (於百慕達註冊成立之有限公司) 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01114 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 8,000,000,000 | USD | 0.01 USD | | | 80,000,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 8 ...

Group 1 - The Hong Kong stock market saw a collective decline in automotive stocks, with Xpeng Motors dropping over 8%, NIO down over 6%, and Li Auto, Great Wall Motors, and others also experiencing declines [1] - Major Chinese automakers reported January vehicle delivery data, with BYD's January new energy vehicle sales at 210,051 units, a year-on-year decrease of 30.11%, while Li Auto delivered 27,668 units, down 7.55%, and Xpeng delivered 20,011 units, a decline of 34.07% [1] Group 2 - Specific stock performance included Xpeng Motors at -8.58% with a latest price of 65.500 and a market cap of 125.09 billion, NIO at -6.53% with a price of 36.100 and a market cap of 88.96 billion, and BYD at -4.60% with a price of 93.250 and a market cap of 850.18 billion [2] - Other notable declines included Li Auto at -3.03%, Great Wall Motors at -3.09%, and Geely Auto at -2.11%, with respective market caps of 129.09 billion, 109.88 billion, and 171.66 billion [2]

Group 1 - First Beijing Investment Limited reduced its stake in Huachen Automotive Group Holdings Company Limited by selling 5.706 million shares at a price of HKD 4.3219 per share, totaling approximately HKD 24.66 million [1] - After the reduction, First Beijing Investment Limited holds approximately 247 million shares, representing a new ownership percentage of 4.90% [1]

Core Viewpoint - First Beijing Investment Limited has reduced its stake in Huachen Automotive Group Holdings Company Limited, indicating a potential shift in investment strategy or market sentiment towards the automotive sector [1] Group 1 - On January 14, First Beijing Investment Limited sold 5.706 million shares of Huachen Automotive at a price of HKD 4.3219 per share, totaling approximately HKD 24.6608 million [1] - After the reduction, First Beijing Investment Limited's remaining shareholding is approximately 247 million shares, representing a stake of 4.90% in Huachen Automotive [1]