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。 （ 在 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：1055） 2025年第三季度報告 摘 要 中 國 南 方 航 空 股 份 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 合 稱「本集團」） 2025年 第 三 季 度（即2025年7–9月，「報告期」）財 務 報 告 乃 根 據 中 國 會 計 準 則 編 製，且 未 經 審 計。 本 公 告 乃 根 據《香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則》第13.09及 13.10B條 而 作 出。 重 要 內 容 提 示： （一）主要會計數據和財務指標 單 位：百 萬 元 幣 種：人 民 幣 | | | | | 年初至報 | | --- | --- | --- | --- | --- | | | | 本報告期比 ...

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之內容概不 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 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 Hainan Drinda New Energy Technology Co., Ltd. 海南鈞達新能源科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：02865） 本公告乃根據《香港聯合交易所有限公司證券上市規則》（「上市規則」）第13.09(2) 條及第13.10B條 的 披 露 義 務 及 證 券 及 期 貨 條 例（香 港 法 例 第571章）第XIVA部 項 下 的 內 幕 消 息 條 文（定 義 見 上 市 規 則）而 作 出。 下文載列本公司截至2025年9月30日 止 三 個 月（「報告期」或「本報告期」）的2025 年 第 三 季 度 報 告。該 報 告 所 載 的 財 務 資 料 乃 根 據 中 國 企 業 會 計 準 則 編 製， 且 未 經 審 計。除 非 另 有 說 明，季 度 報 告 的 貨 ...

Revenue Growth - Total revenue for the three months ended September 30, 2025, reached RMB 1,805,091,473.50, representing a year-on-year increase of 25.04%[6] - For the nine months ended September 30, 2025, total revenue amounted to RMB 5,038,617,871.03, which is a 29.29% increase compared to the same period last year[6] Profitability - Total comprehensive income attributable to owners of the parent company for the same period was RMB 97,476,909.22, reflecting a significant growth of 56.44% compared to the previous year[6] - Net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 92,690,528.06, marking a 60.63% increase year-on-year[6] - Total comprehensive income attributable to owners of the parent company for the nine-month period was RMB 215,623,731.53, up by 60.11% year-on-year[6] - Net profit attributable to shareholders after deducting non-recurring gains and losses for the nine months was RMB 205,966,456.30, reflecting a 70.45% increase compared to the previous year[6] Assets and Equity - Total assets as of September 30, 2025, were RMB 4,109,265,104.59, showing a growth of 17.30% from the previous fiscal year[8] - Total equity attributable to owners of the parent company at the end of the reporting period was RMB 2,640,395,147.41, which is a 19.91% increase compared to the last fiscal year[8]

Fund Allocation - The net proceeds from the subscription amount to approximately HKD 19,400,000, with 60% allocated for expanding existing longevity science and new biopharmaceutical product trading businesses [4] - 11,640 thousand HKD (60%) of the net proceeds has been fully utilized for business expansion, while 7,760 thousand HKD (40%) has been allocated to general working capital [5] Stock Options and Incentives - No stock options were granted under the 2022 stock option plan during the fiscal year 2024 [6] - The total number of shares available for grant under the stock incentive plan and the 2022 stock option plan is 38,701,026 shares as of January 1, 2024, and December 31, 2024 [8] - The company clarified that the number of shares that could be issued for stock options and incentives during the fiscal year 2024 is zero, contrary to the previously reported 16.02% [9]

ANNUAL REPORT 2024/2025 年 報 Contents 目錄 | Corporate Information | 2 | | --- | --- | | 公司資料 | | | Financial Summary | 4 | | 財務概要 | | | Management Discussion and Analysis | 5 | | 管理層討論及分析 | | | Biographies of Directors and Senior Management | 17 | | 董事及高級管理人員之簡歷 | | | Report of the Directors | 20 | | 董事局報告 | | | Corporate Governance Report | 45 | | 企業管治報告 | | | Environmental, Social and Governance Report | 64 | | 環境、社會及管治報告 | | | Independent Auditor's Report | 79 | | 獨立核數師報告 | | | Consolidated Statement of Pr ...

Financial Performance - For the third quarter of 2025, the company reported operating revenue of RMB 8,875,503,365, a decrease of 0.17% year-on-year[8]. - The total profit for the same period was RMB 1,910,412,608, reflecting an increase of 4.89% compared to the previous year[8]. - Net profit attributable to shareholders was RMB 1,370,027,359, which represents a year-on-year growth of 1.62%[8]. - The weighted average return on net assets was 4.47%, a decrease of 0.16 percentage points compared to the previous year[8]. - The total assets at the end of the reporting period were RMB 51,390,464,744, a slight decrease of 0.06% from the previous year[8]. - The equity attributable to shareholders increased by 7.82% year-on-year, reaching RMB 31,333,133,632[8]. Sales and Market Performance - The company achieved a cumulative product sales volume of 6.894 million kiloliters, an increase of 1.6% year-on-year, with the main brand Tsingtao Beer growing by 4.1%[9]. - The online business has been continuously strengthened, contributing to the overall growth in consumer engagement and product consumption[9]. - The company plans to continue optimizing its product structure and expanding its market presence both domestically and internationally[9]. - The company is focused on enhancing consumer experience through innovative marketing strategies and multi-scenario marketing practices[9]. Shareholder Information - The largest shareholder, Hong Kong Central Clearing (Agent) Co., Ltd., holds 614,017,236 shares, representing 45.01% of total shares[15]. - Qingdao Beer Group Co., Ltd. owns 443,467,655 shares, accounting for 32.51% of total shares, with 405,132,055 shares being RMB ordinary shares[16]. - The top ten shareholders do not have any known relationships or act in concert[17]. - The company has not disclosed any participation in margin financing or securities lending by the top ten shareholders[18]. Corporate Governance - As of September 30, 2025, the company will provide unaudited financial statements on its website and the Shanghai Stock Exchange[19]. - The board of directors includes key members such as Chairman Jiang Zongxiang and Executive Director Hou Qiuyan[20].

Financial Performance - Operating revenue for the reporting period was CNY 60,123,601, a decrease of 4.66% compared to the same period last year[8] - Total profit for the reporting period reached CNY 7,527,729, an increase of 64.76% year-on-year[8] - Net profit attributable to shareholders was CNY 3,801,332, reflecting a significant increase of 90.31% compared to the previous year[8] - Basic earnings per share for the reporting period was CNY 0.222, representing a 91.38% increase compared to the same period last year[8] - Net profit attributable to shareholders increased by 64.76% in the reporting period, driven by effective operational strategies and cost control[16] - The total profit for the reporting period reached a growth of 90.31%, reflecting improved sales volume and profitability[16] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 11,115,473, up by 10.42% year-on-year[8] - Cash and cash equivalents increased to CNY 30,331,630 as of September 30, 2025, up from CNY 22,210,452 at the end of 2024, showing improved liquidity[28] - Cash flow from operating activities for the first three quarters of 2025 was CNY 25,380,218, an increase from CNY 23,613,076 in 2024, showing a rise of about 7.5%[35] - The net increase in cash and cash equivalents for the first three quarters of 2025 was CNY 8,166,338 thousand, compared to CNY 3,098,348 thousand in the same period of 2024, indicating a growth of 163.5%[40] - Cash inflow from financing activities totaled CNY 11,209,982 thousand in the first three quarters of 2025, compared to CNY 9,525,439 thousand in the same period of 2024, representing an increase of 17.7%[39] - Net cash flow from financing activities was negative CNY 9,164,513 thousand in the first three quarters of 2025, an improvement from negative CNY 19,260,772 thousand in the same period of 2024[39] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 230,398,939, an increase of 6.70% from the previous year[10] - Total liabilities increased to CNY 106,853,962 in 2025 from CNY 103,886,153 in 2024, suggesting a rise in financial obligations[30] - Total assets as of September 30, 2025, amounted to CNY 136,249,718 thousand, up from CNY 132,702,435 thousand at the end of 2024, reflecting a growth of 2.1%[42] - Total liabilities reached CNY 81,870,137 thousand as of September 30, 2025, compared to CNY 78,729,409 thousand at the end of 2024, representing a rise of 2.9%[43] - The company’s total liabilities to equity ratio improved to 1.51 as of September 30, 2025, compared to 1.46 at the end of 2024, indicating a slight increase in leverage[43] Shareholder Information - Equity attributable to shareholders increased to CNY 73,406,524, up by 6.09% year-on-year[10] - The total number of common shareholders at the end of the reporting period was 356,252[18] - The largest shareholder, China Aluminum Group, holds 5,235,235,416 shares, accounting for 30.52% of total shares[19] - The company plans to increase its shareholding by no less than RMB 1 billion and no more than RMB 2 billion within 12 months[24] - As of the end of the reporting period, the cumulative increase in shares by China Aluminum Group and its concerted actions amounted to 193,029,583 shares, approximately 1.13% of total shares[24] Production and Sales - The production of metallurgical-grade alumina was 1,304,000 tons, a year-on-year increase of 3.74%[17] - The output of primary aluminum (including alloys) was 600,000 tons, representing a 6.76% increase compared to the previous year[17] - The external sales volume of self-produced metallurgical alumina reached 491,000 tons, up by 2.94% year-on-year[17] - The power generation from external sales reached 128 billion kWh, marking a 7.56% increase compared to the previous year[17] - The company reported a total revenue from sales of goods and services of CNY 153,151,695 for the first three quarters of 2025, slightly up from CNY 152,480,509 in 2024[35] Research and Development - Research and development expenses rose to CNY 2,821,906 in 2025, compared to CNY 2,486,695 in 2024, reflecting a focus on innovation[32] - Research and development expenses for the first three quarters of 2025 were CNY 81,787 thousand, down 25% from CNY 108,920 thousand in 2024[46] Financial Management - The company reported a decrease in financial expenses to CNY 1,660,836 in 2025 from CNY 2,106,391 in 2024, indicating improved cost management[32] - The company reported a decrease in financial expenses to CNY 932,456 thousand in 2025 from CNY 1,007,250 thousand in 2024, indicating improved cost management[46] - The company’s investment income increased to CNY 981,897 in 2025, up from CNY 739,514 in 2024, highlighting better returns on investments[32] - The company achieved investment income of CNY 3,405,757 thousand in the first three quarters of 2025, a decrease of 9.52% from CNY 3,764,595 thousand in 2024[46]

Financial Performance - For the three months ended September 30, 2025, the operating revenue was CNY 1,598,088,948.43, a decrease of 10.99% compared to the same period last year[4] - The net profit attributable to shareholders of Jiuyang was CNY 854,630.27, a significant increase of 101.11% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 5,429,104.05, up 106.67% from the previous year[4] - The basic earnings per share for the nine months ended September 30, 2025, was CNY 0.0011, reflecting a 101.10% increase compared to the same period last year[4] - The net cash flow from operating activities for the nine months ended September 30, 2025, was CNY 347,031,788.32, down 16.77% year-on-year[4] - The weighted average return on equity increased to 0.02%, up 2.22 percentage points from the previous year[4] - The net assets attributable to shareholders as of September 30, 2025, were CNY 3,466,752,351.70, a slight decrease of 0.55% from the previous year[4] Assets and Business Model - The total assets as of September 30, 2025, amounted to CNY 6,911,931,604.39, a decrease of 8.89% from December 31, 2024[4] - The company plans to collaborate with Jiuyang to shift its overseas business model to a licensing distribution model, effective from November 1, 2025, to October 31, 2028[6][7] - The estimated transaction amount for the collaboration is approximately USD 1.5 million by the end of the year[7]

Financial Performance - Total revenue for Q3 2025 reached CNY 10,774,405,920.94, an increase of 21.11% compared to the same period last year[7] - Net profit attributable to shareholders was CNY 1,129,793,824.82, reflecting a growth of 25.93% year-over-year[7] - Basic earnings per share for the quarter were CNY 0.648, up 29.08% compared to the same quarter last year[7] - Total operating revenue for the first three quarters of 2025 increased by RMB 291,067.37 million, a growth of 10.45% compared to the same period last year[14] - Net profit for the first three quarters of 2025 increased by RMB 38,909.88 million, a growth of 11.74% compared to the previous year[17] - Net profit attributable to the parent company increased by RMB 58,628.37 million, a rise of 19.17%, benefiting from revenue growth in the coal machinery segment and improved profitability of SEG[17] - Net profit for the first three quarters of 2025 was ¥3.70 billion, up 11.69% from ¥3.32 billion in the first three quarters of 2024[29] - Operating profit for the first three quarters of 2025 was ¥4.36 billion, compared to ¥3.99 billion in the same period of 2024, reflecting a 9.15% increase[29] Revenue Segmentation - The coal machinery segment generated total revenue of CNY 1,607,530.84, a 10.66% increase from the previous year[13] - The automotive parts segment reported revenue of CNY 1,469,185.91, marking a 10.22% increase year-over-year[13] - The coal machinery segment's operating revenue rose by RMB 154,873.45 million, an increase of 10.66%, driven by steady growth in hydraulic support business and the implementation of a complete set strategy[14] - The automotive parts segment's revenue increased by RMB 136,193.92 million, a growth of 10.22%, with significant contributions from the rapid growth of the shock absorber business[14] Asset and Liability Management - The company's total assets at the end of the reporting period were CNY 47,963,503,839.41, a decrease of 1.24% from the previous year[8] - Total current assets amounted to ¥33,918,879,963.28, down from ¥35,051,947,991.74, reflecting a decrease of about 3.2%[24] - Total liabilities decreased to ¥24,085,679,311.84 from ¥25,820,425,035.10, a decline of approximately 6.7%[25] - The company's total assets were reported at ¥47,963,503,839.41, down from ¥48,566,133,402.60, indicating a decrease of about 1.2%[26] - The company's total liabilities decreased to 12,047,213,619.10 CNY from 17,506,286,425.66 CNY, representing a decline of about 31.1%[35] Cash Flow Analysis - The cash flow from operating activities showed a significant decline of 62.71% year-to-date, primarily due to increased cash payments for goods and services[12] - The net cash flow from operating activities decreased to ¥877.67 million in 2025 from ¥2.35 billion in 2024, indicating a decline of 62.80%[31] - The company reported a total cash inflow from operating activities of ¥25.92 billion for the first three quarters of 2025, compared to ¥25.89 billion in 2024[31] - Cash flow from operating activities generated a net amount of CNY 114.70 million, significantly lower than CNY 527.68 million in the same period last year[37] - Cash flow from investing activities showed a net inflow of CNY 850.36 million, down from CNY 1.52 billion in the previous year[38] - Cash flow from financing activities resulted in a net outflow of CNY 1.96 billion, an improvement compared to a net outflow of CNY 3.41 billion in the same period of 2024[38] Investment and Income Changes - Investment income from the coal machinery segment decreased by 61.16% to CNY 5,224.67[13] - Investment income decreased by RMB 11,568.84 million, a decline of 66.34% year-on-year, primarily due to reduced financial product returns in the coal machinery segment[15] - Fair value changes in income increased by RMB 28,759.35 million, a growth of 418.66%, mainly due to the recovery of previously recognized losses from trust financial products[16] - The company recorded investment income of ¥58.69 million for the first three quarters of 2025, down from ¥174.38 million in the same period of 2024[28] - The company reported a significant decline in investment income, which fell to CNY 535.98 million from CNY 1.88 billion in the previous year[36] Shareholder and Equity Information - The number of ordinary shareholders at the end of the reporting period was 64,166[19] - The company's equity attributable to shareholders increased to ¥23,158,669,924.33 from ¥21,950,799,519.54, reflecting a growth of about 5.5%[26] - The total owner's equity decreased to 22,837,911,855.65 CNY from 23,335,697,341.99 CNY, a decline of about 2.1%[35] Restructuring and Future Plans - The company has undergone a restructuring of its coal machinery business, transferring related assets and liabilities to a wholly-owned subsidiary, which significantly impacted the financial statements[22] - The company plans to disclose further details regarding the restructuring in an announcement on April 29, 2025[22] - The company plans to continue focusing on cost control and efficiency improvements in response to the declining revenue trend[39]

Financial Performance - Total revenue for the reporting period reached RMB 310,238,146.22, representing a year-on-year increase of 17.67%[6] - Net profit attributable to shareholders was RMB 27,925,556.13, showing an impressive increase of 842.01% compared to the same period last year[6] - Basic and diluted earnings per share were both RMB 0.11, reflecting a significant increase of 1,000% from RMB 0.06 in the previous year[7] - The total profit for the period was RMB 27,790,806.52, a remarkable increase of 695.73% compared to the same period last year[6] - The total profit for the reporting period reached RMB 842.01 million, representing a year-on-year increase of 695.73%[13] - The net profit attributable to shareholders for the reporting period was RMB 27.93 million, with a significant year-on-year increase[14] - Other income recognized during the reporting period amounted to RMB 91.60 million, reflecting a year-on-year growth of 233.63%[13] - The comprehensive gross profit margin for the reporting period was 80.67%, an increase of 6.47 percentage points year-on-year[17] Research and Development - Research and development expenses totaled RMB 90,547,462.82, a decrease of 16.10% year-on-year, accounting for 29.19% of total revenue, down 11.74 percentage points[7] - Research and development expenses for the first three quarters of 2025 amounted to ¥224,666,107.48, down from ¥272,272,224.71 in 2024, reflecting a decrease of approximately 17.5%[35] Cash Flow and Operating Activities - The company reported a net cash flow from operating activities of RMB 33,494,897.39 for the reporting period[6] - The net cash flow from operating activities for the reporting period was RMB 22.22 million, reversing from a net outflow in the previous year[18] - The net cash flow from operating activities for the year-to-date period was RMB 33.49 million, also showing a reversal from the previous year's outflow[18] - Cash flow from operating activities generated a net cash inflow of ¥33,494,897.39 in the first three quarters of 2025, compared to a net cash outflow of ¥287,414,483.35 in the same period of 2024[42] Assets and Liabilities - Total assets at the end of the reporting period were RMB 7,301,190,997.13, a decrease of 8.25% from the previous year[7] - The company's total assets as of September 30, 2025, were ¥7,301,190,997.13, a decrease from ¥7,958,132,235.38 at the end of 2024[30] - Current assets totaled ¥3,939,112,041.80 as of September 30, 2025, down from ¥4,282,490,715.65 at the end of 2024, representing a decline of about 8.0%[29] - Total liabilities decreased to ¥2,369,829,747.59 as of September 30, 2025, from ¥3,048,260,581.65 at the end of 2024, indicating a reduction of approximately 22.3%[31] Equity and Shareholder Information - The return on equity increased to 0.57%, up 0.51 percentage points from the previous year[7] - The total equity attributable to shareholders was ¥4,931,361,249.54 as of September 30, 2025, up from ¥4,909,871,653.73 at the end of 2024, showing a slight increase of approximately 0.4%[32] - The company reported a net loss of ¥(1,922,857,713.42) for the equity attributable to shareholders as of September 30, 2025, compared to a loss of ¥(1,937,297,858.98) at the end of 2024, indicating a slight improvement[32] Operational Efficiency - The company achieved a significant improvement in operational efficiency through resource integration[14] - The company continues to enhance its accounts receivable management, leading to improved cash collection in its vaccine-related business[18] Future Outlook - The company will implement new accounting standards starting from 2025, which may affect the financial statements[44]