第 1 頁 共 2 頁 v 1.1.1 EF001 明文件，可按稅收協議通知的有關規定自行或委託代理人辦理有關手續。 對於H股股東的納稅身份或稅務待遇及因H股股東的納稅身份或稅務待遇未能及時確定或 不準確確定而引致的任何申索或對於代扣代繳機制或安排的任何爭議，本公司概不負 責，亦不承擔任何責任。 股東類型 稅率 有關代預扣所得稅之更多補充 （如適用） 非個人居民 （非中國內地登記地址） 10% H股個人股東為香港或澳門居民以 及其他與中國簽訂10%或低於的股 息稅率的稅收協議的國家的居民， 公司有義務按10%的稅率代扣代繳 個人所得稅。 非個人居民 （非中國內地登記地址） 20% 如H股個人股東為與中國訂立高於 10%但低於20%股息稅率的稅收協 議的國家的居民，公司有義務按相 關稅收協議實際稅率代扣代繳個人 所得稅。 非個人居民 （非中國內地登記地址） 20% H股個人股東為與中國簽訂高於 20%股息稅率的稅收協議的國家的 居民、與中國並沒有簽訂任何稅收 協議的國家的居民或在任何其他情 況下，公司有義務按20%的稅率代 扣代繳個人所得稅。 非居民企業 （非中國內地登記地址） 10% 境外H股非居民企業股東（ ...

Financial Performance - Revenue for the year was RMB 3,121.2 million, a decrease of 8.74% compared to the previous year[4] - Profit attributable to owners of the company was RMB 150.7 million, down 19.67% year-on-year[4] - Gross profit for the year was RMB 207.1 million, compared to RMB 354.9 million in the previous year[5] - The company reported a total comprehensive income of RMB 165.3 million for the year, compared to RMB 201.7 million in the previous year[7] - The group's revenue for 2025 is reported at RMB 3,121,230,000, a decrease from RMB 3,420,317,000 in 2024, indicating a decline of approximately 8.8%[23] - The group’s attributable profit for the year was RMB 150.7 million, a decrease of 19.67% from RMB 187.6 million in the previous year[57] Sales and Revenue Breakdown - Total natural gas sales volume reached 878 million cubic meters, a decline of 3.09% from the previous year[4] - Revenue from the sale of pipeline natural gas in 2025 is RMB 1,706,841,000, with liquefied natural gas sales at RMB 1,007,152,000, and liquefied petroleum gas sales at RMB 64,717,000[23] - Total gas sales volume reached 878 million cubic meters, a decrease of 0.28% compared to the same period in 2024[47] - Pipeline natural gas sales volume was 538 million cubic meters, showing a moderate growth of 0.75%[47] - Liquefied natural gas sales volume was 339 million cubic meters, down 8.87% year-on-year, primarily due to a loosening supply-demand situation in the natural gas market[47] Dividends and Shareholder Information - The board proposed a final dividend of RMB 0.25 per share (tax included) for the year ended December 31, 2025[4] - The interim dividend for 2025 was set at RMB 0.15 per share, reduced from RMB 0.20 per share in 2024, a decrease of 25%[33] - The company will withhold a 10% corporate income tax on dividends paid to non-resident H-share shareholders[76] - The record date for determining H-share shareholders entitled to attend the annual general meeting is June 2, 2026[79] - The last deadline for submitting share transfer documents for the final dividend is June 16, 2026[79] Assets and Liabilities - Total assets as of December 31, 2025, amounted to RMB 2,435.3 million, an increase from RMB 1,788.0 million in 2024[9] - Non-current liabilities totaled RMB 1,145.9 million, up from RMB 602.4 million in the previous year[9] - The net asset value was RMB 1,289.4 million, compared to RMB 1,185.6 million in the previous year[9] - The current ratio as of December 31, 2025, was 1.22, up from 0.92 on December 31, 2024, while the debt-to-asset ratio increased to 63.39% from 60.27%[59] - The total trade payables and notes payable increased to RMB 849,007,000 in 2025, up 16.4% from RMB 729,375,000 in 2024[40] Financial Management and Costs - The total financing costs for 2025 amounted to RMB 21,987,000, down from RMB 23,673,000 in 2024, reflecting a reduction of about 7.1%[30] - The income tax expense for 2025 was RMB 32,295,000, significantly lower than RMB 60,679,000 in 2024, representing a decrease of approximately 46.8%[32] - Financing costs decreased by 17.18% to RMB 13.5 million, attributed to reduced short-term borrowings[55] Investments and Acquisitions - The group completed an investment of approximately RMB 357.0 million in the joint venture Hangjiaxin, with a book value of RMB 485.5 million, representing 13.78% of total assets[65] - The group acquired a 13.5% stake in Yancheng Xingzhou for RMB 89.0 million and invested approximately RMB 232.72 million, with a book value of RMB 266.91 million, accounting for 7.58% of total assets[66] - The investment in Hangjiaxin generated an investment income of approximately RMB 24.6 million during the reporting period[65] - The investment in Yancheng Xingzhou confirmed a profit of RMB 34.3 million, with no dividends received[66] Employee and Governance - As of December 31, 2025, the group employed a total of 402 employees, with total employee costs amounting to approximately RMB 76.0 million for the year[71] - The company has adopted the corporate governance code as the basis for its governance practices, ensuring compliance with all applicable rules during the reporting period[83] - The audit committee, composed of three independent non-executive directors, has reviewed the accounting principles and policies adopted by the group for the fiscal year[87] Market and Future Outlook - The company anticipates a more regulated and transparent market environment due to ongoing reforms in the oil and gas sector, which may facilitate resource allocation and trade expansion[46] - The management is committed to exploring the integration of natural gas and new energy to ensure sustainable development and create long-term value for shareholders[50] - There are no major future investment or capital asset plans currently reported by the group[67] Compliance and Reporting - Financial statements are prepared in accordance with International Financial Reporting Standards and presented in Renminbi[14] - The consolidated financial statements include the financial results of the company and its subsidiaries for the year ending December 31, 2025[15] - The company will publish its annual report and performance results on its website and the stock exchange in accordance with listing rules[88]

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告的內容概不 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 告 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。 嘉興市燃氣集團股份有限公司 主席及執行董事 孫連清 中 國，嘉 興 2026年3月12日 於 本 公 告 日 期，董 事 會 包 括 執 行 董 事 孫 連 清 先 生 及 徐 松 強 先 生；非 執 行 董 事 郁 建 明 先 生、鄭 歡 利 先 生、傅 松 權 先 生 及 阮 澤 雲 女 士；以 及 獨 立 非 執 行 董 事 于 友 達 先 生、鄭 學 啟 先 生 及 周 鑫 發 先 生。 * 僅供識別 JiaXing Gas Group Co., Ltd.* 嘉興市燃氣集團股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：9908） 董事會召開日期 嘉興市燃氣集團股份有限公司（「本公司」）董 事（「董 事」）會（「董事會」）兹通告謹定 於2026年3月27日（星 期 五）舉 行 ...

致：香港交易及結算所有限公司 公司名稱: 嘉興市燃氣集團股份有限公司(於中華人民共和國註冊成立的股份有限公司) 呈交日期: 2026年3月2日 FF301 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 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 09908 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 37,844,500 | RMB | | 1 RMB | | 37,844,500 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 37,844,500 | RMB | | 1 RMB | | 37,844,500 | | 2. 股份分類 | ...

Group 1 - The core point of the article is the termination of the concerted action agreement among major shareholders of Jiaxing Gas, which involves Zhejiang Taiding Investment Co., Ltd., Zhuji Yujia New Energy Technology Co., Ltd., and two individuals, leading to an adjustment in the equity structure that will not significantly impact daily operations or financial status [1] Group 2 - For the mid-2025 performance, the company reported a revenue decrease of 3.63% to RMB 1.4615 billion and a net profit decline of 15.49% to RMB 75.3 million, primarily due to reduced demand from large users and a drop in natural gas sales prices [2] - The total gas sales volume fell to 392 million cubic meters, although the development of new industrial and commercial users remained steady [2]

FF301 本月底法定/註冊股本總額： RMB 137,844,500 | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000 RMB | | | 1 RMB | | 100,000,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 100,000,000 RMB | | | 1 RMB | | 100,000,000 | | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

FF301 本月底法定/註冊股本總額： RMB 137,844,500 | 2. 股份分類 | 普通股 | 股份類別 | | 其他類別 (請註明) | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000 | RMB | | 1 RMB | | 100,000,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 100,000,000 | RMB | | 1 RMB | | 100,000,000 | | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | -- ...

Market Overview - The Hong Kong stock market opened slightly higher on December 24, with the Hang Seng Index rising 0.02% to 25,780.09 points, the Hang Seng Tech Index up 0.07% to 5,492.83 points, the National Enterprises Index increasing by 0.09% to 8,922.07 points, and the Red Chip Index gaining 0.19% to 4,075.35 points [1] Company News - Pacific Basin Shipping (02343.HK) plans to acquire four newly built small handy bulk carriers for USD 119 million [2] - Xinyi Energy (03868.HK) intends to acquire 100% equity of Jinzhai Xinyi Wind Power for HKD 62 million [3] - Tianjin Port Development (03382.HK) proposes to sell 60% equity of China Railway Storage and Transportation for HKD 22.52 million, primarily engaged in coal sales [4] - Shandong Xinhua Pharmaceutical (00719.HK) has received a drug registration certificate for its Oseltamivir phosphate dry suspension [5] - Yiyuan Yuan (08223.HK) has entered into a strategic cooperation framework agreement with Pengfeng Technology to explore digital transformation opportunities in the traditional Chinese medicine industry [5] - Yihua Tong (02402.HK) completed a placement of 8.88 million shares, raising HKD 198 million, primarily for repaying bank loans [7] - Runge Interactive (02422.HK) plans to place up to 160 million shares at a discount of approximately 19.44%, raising about HKD 68.6 million [8] - Tencent Holdings (00700.HK) repurchased 1.051 million shares for HKD 636 million at prices between HKD 602.5 and HKD 613.5 [9] - Kuaishou-W (01024.HK) repurchased 2.7176 million shares for HKD 174 million at prices between HKD 63.7 and HKD 64.65 [10] - Xiaomi Group-W (01810.HK) repurchased 3.75 million shares for HKD 147 million at prices between HKD 39.1 and HKD 39.28 [11] - COSCO Shipping Holdings (01919.HK) repurchased approximately HKD 65.48 million worth of shares, totaling 4.7215 million shares at prices between HKD 13.75 and HKD 13.93 [12] - Huaxin Cement (06655.HK) shareholder Huaxin Group plans to increase its holdings in the company's A-shares by HKD 200 million to HKD 400 million [13] Institutional Insights - Dongwu Securities suggests that while there may be short-term opportunities in the Hong Kong market, it is advisable to maintain a cautious stance. The current position is seen as attractive for medium to long-term allocation, with potential for a "Christmas rally" in US tech stocks that could resonate with Hong Kong tech stocks, although there are concerns about stock unlocks affecting the market [14] - Founder Securities highlights strong demand for energy storage, benefiting both power batteries and energy storage batteries, with expected growth rates of over 15% and 40% respectively by 2026. The lithium market is also expected to see a gradual recovery in supply-demand dynamics, with prices likely to rise [14] - CICC forecasts that global tungsten production will increase from 82,800 tons in 2025 to 89,900 tons by 2028, while demand will rise from 102,100 tons to 110,000 tons, indicating a persistent supply-demand gap. The demand for tungsten-based new materials is expected to grow due to advancements in manufacturing and new applications [15]

Company News - Pacific Shipping (02343.HK) plans to acquire four newly built small handy bulk carriers for USD 119 million [2] - Xinyi Energy (03868.HK) intends to acquire 100% equity of Jinzhai Xinyi Wind Power for HKD 62 million [2] - Tianjin Port Development (03382.HK) proposes to sell 60% equity of China Railway Storage and Transportation for HKD 22.5243 million, primarily engaged in coal sales [2] - Valiant Bio-B (09887.HK) announced the successful administration of LBL-024, a PD-L1/4-1BB bispecific antibody, to the first patient in the Phase Ib/II clinical trial for platinum-resistant ovarian cancer [2] - Shandong Xinhua Pharmaceutical (00719.HK) has received a drug registration certificate for its Oseltamivir phosphate dry suspension [2] - Ziyuan Yuan (08223.HK) signed a strategic cooperation framework agreement with Pengfeng Technology to explore digital transformation and asset value enhancement in the traditional Chinese medicine industry [2] - Jiaxing Gas (09908) terminated its agreement with concerted action persons [2] Financing and Buyback Activities - Yihua Tong (02402.HK) completed a placement of 8.88 million shares, raising HKD 198 million, primarily for repaying bank loans [2] - Rungao Interactive (02422.HK) plans to place up to 160 million shares at a discount of approximately 19.44%, aiming to raise about HKD 68.6 million [2] - Tencent Holdings (00700.HK) repurchased 1.051 million shares for HKD 636 million, with prices ranging from HKD 602.5 to 613.5 [3] - Kuaishou-W (01024.HK) repurchased 2.7176 million shares for HKD 174 million, with prices between HKD 63.7 and 64.65 [3] - Xiaomi Group-W (01810.HK) repurchased 3.75 million shares for HKD 147 million, with prices from HKD 39.1 to 39.28 [4] - COSCO Shipping Holdings (01919) announced a repurchase of 4.7215 million shares for approximately HKD 65.4829 million [4] - Huaxin Cement (06655.HK) major shareholder Huaxin Group plans to increase its holdings in the company's A-shares by HKD 200 million to 400 million [4]

Core Viewpoint - Jiaxing Gas (09908) announced the termination of the concert party agreement among its concert parties, effective from December 23, 2025, which will result in the cessation of all rights and obligations under the agreement [1] Group 1 - The board of Jiaxing Gas was informed about the agreement to terminate the concert party agreement among the concert parties [1] - The termination of the agreement means that the concert parties will no longer have the right to exercise voting rights on resolutions proposed at the company's general meetings [1] - Following the termination, the parties involved, including Taiding, Zhuji Yujia, Mr. Xu, and Ms. Xu, will no longer be considered concert parties under the Takeovers Code [1]