Report for First Quarter of 2026

Stock Code: 600057 Stock Abbreviation: Xiamen Xiangyu

Xiamen Xiangyu Co. Ltd.Report for First Quarter of 2026

The Board of Directors and all Directors of the Company shall guarantee that there is no

false recordation misleading statement or material omission in contents of this

Announcement and shall assume the legal liability for authenticity accuracy and

completeness of such contents.Notes to Important Items:

The Board of directors the Board of Supervisors as well as Directors Supervisors and Senior

Management of the Company shall guarantee the authenticity accuracy and completeness of

the contents of the Quarterly Report without any false recordation misleading statement or

material omission and shall assume the joint and several legal liabilities.The person in charge of the Company the person in charge of financial affairs and the leading

member of the accounting body (the person in charge of accounting) shall guarantee the

authenticity accuracy and completeness of the financial information in the Quarterly Report.Whether the financial statements for the first quarter are audited or not

□Yes √No

I. Overview of Operating Performance in the First Quarter

Faced with a complex and volatile market environment the Company adheres to the strategic

philosophy of "Based on supply chains serving industrial chains and creating value chains".On the one hand the company accelerates the reform of organizational structure establ ishes

the Resources Business Unit and International Business Unit and sets up the Logistics

Industry Sub-group. The Company advances the strategic layout of upstream resources and

global business expansion optimizes the industrial logistics service system and unlocks the

efficiency of resource integration. On the other hand the company further deepens the

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

diversified operation model covering Capital Trade Logistics Services Industry and

Investment and continuously consolidates and enhances its core strengths in industrial and

supply chains. The operating scale of major commodities including steel iron ore nickel ore

and coal achieved substantial growth. During the reporting period the Company recorded

operating income of RMB 99.1 billion a year-on-year increase of 2.05%; the net profit

attributable to shareholders of the parent company amounted to RMB 521 million rising by

2.42% year on year.

In terms of bulk commodity business the total operating volume reached 64 million tons a

year-on-year increase of 17%. The operating volume and spot-futures gross profit of the metal

mineral and energy & chemical sectors achieved notable growth among which the year -on-

year growth of spot-futures gross profit exceeded 50% for both sectors.In the bulk commodity logistics sector the integration of industrial logistics and professional

logistics has been accelerated with continuous improvement in service capabilities. Both the

operating revenue and gross profit of industrial logistics registered a year -on-year growth of

over 80%.As for the manufacturing segment the brand influence of the shipbuilding business in the

global market for medium-sized bulk carriers and special chemical tankers keeps rising.Following the completion of transformation and upgrading of Qidong Shipyard production

capacity has been further expanded. A total of 10 new ship orders were signed during the

reporting period and the number of orders on hand stood at 118 vessels at the end of the

period.In respect of international development relying on the development pattern of “supply chainleadership logistics support localized operation and investment-driven growth” and

leveraging high-quality customer resources and mature global channels accumulated over the

years the Company continues to expand its global layout and optimize business structure. The

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

revenue proportion of international bulk commodity business has increased demonstrating a

strong development momentum.II. Key financial data

(1) Key accounting data and financial indicators

Unit: million Yuan Currency: RMB

Current reporting

Item The same period last year Changes on a YoY basis (%)

period

Operating revenue 99121.46 97134.80 2.05

Total profit 656.93 724.05 -9.27

Net profit attributable to

shareholders of the listed 521.37 509.06 2.42

company

Net profit attributable to

shareholders of the listed

1128.86135.11735.54

company after deducting the

non-recurring profit and loss

Net cash flow from

-7708.93 -9193.10 Not applicable

operating activities

Basic earnings per share

0.130.17-23.53

(Yuan/share)

Diluted earnings per share

0.130.17-23.53

(Yuan/share)

Weighted average return on

2.42 2.73 Decreased by 0.31pp

equity (%)

At the end of Changes compared to the

At the end of last year

reporting period end of last year (%)

Total assets 135164.12 128697.05 5.03

Owner’s equity attributable

to the shareholders of the 34030.12 31653.38 7.51

listed company

Remark:

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

The net profit attributable to shareholders of the listed company in the above table during the

reporting period includes the interest of RMB 145 million attributable to perpetual bond holders

during the reporting period. After deduction the net profit attributable to shareholders of the listed

company during the reporting period is RMB 377 million. Perpetual bonds and interest were

deducted when calculating the above-mentioned major financial indicators such as basic

earnings per share diluted earnings per share and weighted average return on equity.

(2) Non-recurring profit and loss items and amounts thereof

√Applicable □Not Applicable

Unit: Yuan Currency: RMB

Amount in current

Non-recurring profit and loss items Remark

reporting period

The disposal gains and losses of non-

current assets including the reversal of

22070977.00

previously recognized asset impairment

provisions

The government subsidies (except for

those closely related to the Company’s

normal business operations in line with

national policies and continuously 163185742.77

available at certain standard quota or

ration) included in the current profit and

loss

Mainly including the changes in fair

value recognized in profit or loss

Except for the effective hedging business

and the gains and losses on

related to the Company’s normal

disposal arising from the hedging

business operations the changes in fair

against the fluctuation in commodity

value recognized in profit or loss derived

price and exchange rate by the

from holding financial assets and -1277487445.37

Company with futures instrument

financial liabilities by non-financial

and foreign exchange contract in

enterprises and the gains and losses

order to support the spot operation

arising from the disposal of financial

of the main business which are

assets and financial liabilities

closely related to the operating profit

and loss of the main business.Capital occupation fees charged to non-

financial enterprises included in current 24965609.11

profit and loss

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

Reversal of the impairment provision for

receivables of which the impairment tests 5216630.16

are carried out separately

Trustee fee from entrusted operations 1686320.75

Other non-operating incomes and

56082998.49

expenses than those mentioned above

Minus:

-285580142.83

Amount of income tax consequence

Amount of minority equity

-111211143.86

consequence (after tax)

Total -607487880.40

For items not listed in the Explanatory Announcement on Information Disclosure for Companies

Offering Securities to the Public No.1 - Non-recurring Gains and Losses but defined as non-

recurring gains or losses by the Company with material amount as well as the non-recurring

profit and loss items listed in Explanatory Announcement on Information Disclosure for

Companies Offering Securities to the Public No.1 - Non-recurring Gains and Losses but defined

as recurring gains and losses by the Company explanations should be provided.□Applicable √Not Applicable

(3) The circumstances and causes for occurrence of changes in the key accounting data and

financial indicators

√Applicable □Not Applicable

Proportion of

Name of item Main cause

change (%)

Mainly attributable to the year-on-year increase in net

profit attributable to shareholders of the listed company

and the year-on-year decrease in non-recurring gains

Net profit attributable to and losses. The year-on-year decline in the Company’s

shareholders of the listed non-recurring gains and losses is mainly due to

company after deducting the 735.54 fluctuations in the futures prices of some products which

non-recurring profit and loss resulted in losses from futures hedging operations

current reporting period arranged to support spot business operations.Nevertheless combined with spot business income the

overall operating performance remained stable

effectively hedging the risks of price fluctuations.This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

III. Information on shareholders

(1) The total number of common shareholders the number of preferred shareholders whose

voting rights are restored and the shares held by top ten shareholders

Unit: Share

Total number of Total number of preferred shareholders whose

shareholders at the end of 37495 voting rights are restored at the end of the No

the reporting period reporting period (if any)

Shareholding status of the top 10 shareholders (excluding shares lent through refinancing)

Pledge Marking or

Proportion of Number of Freezing

Nature of Number of

Name of Shareholder Shareholding Restricted

Shareholder Shares Held Status

(%) Shares Held of Quantity

Share

Xiamen Xiangyu Group State-owned

1362930780 47.98 217425988 No 0

Corporation legal person

China Merchants Group State-owned

178253119 6.28 178253119 No 0

Limited legal person

Shandong Port Group Co. State-owned

178253119 6.28 178253119 No 0

Ltd. legal person

National Social Security

Others 63895430 2.25 0 No 0

Fund Portfolio 114

Xiamen CCRE Group Co. State-owned

50226994 1.77 0 No 0

Ltd. legal person

Hong Kong Securities Overseas legal

47560259 1.67 0 No 0

Clearing Company Ltd. person

ChinaAMC CNI Free Cash

Others 39491900 1.39 0 No 0

Flow ETF

China Agricultural

State-owned

Reclamation Industry 38649050 1.36 0 No 0

legal person

Development Fund (L.P.)

Xiangyu Real Estate Group State-owned

30388100 1.07 0 No 0

Co. Ltd. legal person

Property and Casualty

Company Limited(PICC) - Others 15079354 0.53 0 No 0

Own Funds

Shareholding status of the top 10 unrestricted shareholders (excluding shares lent through refinancing)

Class and number of shares

Name of Shareholder Number of unrestricted outstanding shares held Class of Number

shares

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

RMB

Xiamen Xiangyu Group

1145504792 ordinary 1145504792

Corporation

shares

RMB

National Social Security

63895430 ordinary 63895430

Fund Portfolio 114

shares

RMB

Xiamen CCRE Group Co.

50226994 ordinary 50226994

Ltd.shares

RMB

Hong Kong Securities

47560259 ordinary 47560259

Clearing Company Ltd.shares

RMB

ChinaAMC CNI Free Cash

39491900 ordinary 39491900

Flow ETF

shares

China Agricultural RMB

Reclamation Industry 38649050 ordinary 38649050

Development Fund (L.P.) shares

RMB

Xiangyu Real Estate Group

30388100 ordinary 30388100

Co. Ltd.shares

Property and Casualty RMB

Company Limited(PICC) - 15079354 ordinary 15079354

Own Funds shares

Zhongou Prosperity RMB

Selection Hybrid Securities 12550000 ordinary 12550000

Investment Fund shares

RMB

E Fund CSI Dividend ETF 11956569 ordinary 11956569

shares

Xiangyu Real Estate Group Co. Ltd. is a wholly-owned subsidiary of Xiamen Xiangyu

Note to association or Group Corporation. The Company is not aware that whether there is any association

concerted action of aforesaid between the other aforesaid shareholders or whether the other aforesaid shareholdersshareholders are the person acting in concert as stipulated in the “Administration of the Takeover ofListed Companies Procedures”.Notes to participation on top

10 shareholders and top 10

unrestricted shareholders in Not applicable

securities margin trading and

refinancing business (if any)

Share lending status of shareholders holding more than 5% the top 10 shareholders and the

top 10 unrestricted circulating shareholders participating in refinancing.This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

□Applicable √Not Applicable

The top 10 shareholders and the top 10 unrestricted circulating shareholders have changed

compared to the previous period due to lending/returning shares for refinancing.□Applicable √Not Applicable

IV. Other reminders

Other important information on the Company’s operating conditions during the reporting period

that investors shall be reminded of

□Applicable √Not Applicable

V. Quarterly financial statements

(1) Type of auditor’s opinions

□Applicable √Not Applicable

(2) Financial statements

Consolidated Balance Sheet

As at March 31 2026

Prepared by: Xiamen Xiangyu Co. Ltd.Unit: Yuan Currency: RMB Type of Audit: Unaudited

Item March 31 2026 December 31 2025

Current assets:

Cash and cash equivalents 20974042499.15 19869475961.27

Deposit reservation for balance

Lending to Banks and Other Financial

Institutions

Held-for-trading financial assets 1294281019.76 1050118887.32

Derivative financial assets 1223078523.17 318412693.20

Notes receivable 837121764.22 883561541.66

Accounts receivable 15716672792.24 16184340302.02

Financing of receivables 459147556.33 407297760.99

Prepayments 18944316917.28 16838083914.69

Premiums receivable

Reinsurance accounts receivable

Provision of cession receivable

Other receivables 9350579574.09 8651386195.13

Including: Interests receivable

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

Item March 31 2026 December 31 2025

Dividends receivable

Redemptory monetary capital for sale

Inventories 38314392796.62 31947330840.79

Including: data resources

Contract assets 690654607.31 688846619.76

Held-for-sale assets

Non-current assets due within one year 55217028.34 6379963852.98

Other current assets 7112435867.94 5306936142.69

Total current assets 114971940946.45 108525754712.50

Non-current assets:

Loan and advance in cash

Investment in creditor’s right

Other investments in creditor’s right

Long-term receivables 49735989.25 36372747.88

Long-term equity investment 1731918584.53 1711344614.84

Investment in other equity instruments 141649207.97 258343483.90

Other non-current financial assets 35102440.76 35240084.32

Investment properties 1621213415.87 1549563397.95

Fixed assets 9882937251.22 10095345801.06

Construction in progress 337237273.95 188846985.94

Productive biological assets

Oil and gas assets

Right-of-use assets 463508504.17 493792533.31

Intangible assets 2113014284.25 2186416650.25

Including: data resources

Development expenditure 322264.15 322264.15

Including: data resources

Goodwill 12669186.90 12669186.90

Long-term unamortized expenses 139815926.17 143742019.36

Deferred income tax assets 3428951910.59 3099342742.14

Other non-current assets 234097960.15 359953198.20

Total non-current assets 20192174199.93 20171295710.20

Total assets 135164115146.38 128697050422.70

Current liabilities:

Short-term borrowing 20363375462.86 15948382250.49

Borrowings from central bank

Loans from other banks and other financial

institutions

Trading financial liabilities 39106881.75 27880112.47

Derivative financial liabilities 3111920784.53 2840238743.04

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

Item March 31 2026 December 31 2025

Notes payable 32514917740.27 37633949631.13

Accounts payable 10971123245.01 11991532208.63

Account collected in advance 37476168.09 39557865.08

Contract liabilities 16123578860.23 12109801713.47

Financial assets sold for repurchase

Deposits from customers and interbank

Acting trading securities

Acting underwriting securities

Payroll payable 741698658.68 1204123846.39

Taxes payable 598859073.96 792105075.93

Other payables 1630067419.95 1544652634.37

Including: Interests payable

Dividends payable 225883786.99 265979490.95

Handling charges and commissions

payable

Accounts payable for reinsurance

Held-for-sale liabilities

Non-current liabilities due within one year 2871149380.95 2338899534.11

Other current liabilities 2954717861.22 1363878704.27

Total current liabilities 91957991537.50 87835002319.38

Non-current liabilities:

Provision for insurance contracts

Long-term borrowings 1644530212.17 1604580589.61

Bonds payable

Including: Preferred shares

Perpetual bonds

Lease liabilities 297982598.45 329061368.74

Long-term payables 10130973.26 17966840.97

Long-term payroll payable 491410587.90 500361126.44

Estimated liabilities

Deferred income 252913638.94 259316911.80

Deferred income tax liabilities 92144890.39 83177375.01

Other non-current liabilities 15468543.95 12847111.13

Total non-current liabilities 2804581445.06 2807311323.70

Total liabilities 94762572982.56 90642313643.08

Owner’s equity (or shareholders’ equity):

Paid-up capital (or capital stock) 2840589339.00 2840589339.00

Other equity instruments 18265000000.00 16265000000.00

Including: Preferred shares

Perpetual bonds 18265000000.00 16265000000.00

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

Item March 31 2026 December 31 2025

Capital reserve 5795949016.93 5781882037.34

Less: Treasury stock 478387071.23 478387071.23

Other comprehensive income -11651809.15 89518952.72

Appropriative reserve 973167.70 959171.46

Surplus reserve 927814189.02 927814189.02

General risk reserve

Undistributed profits 6689832632.21 6226007231.15

Total owner’s equity (or shareholders’

34030119464.4831653383849.46

equity) attributable to parent company

Minority equity 6371422699.34 6401352930.16

Total owner’s equity (or shareholders’

40401542163.8238054736779.62

equity)

Total liabilities and owner’s equity (or

135164115146.38128697050422.70

shareholders’ equity)

Person in charge of Company: Jie Wu Person in charge of financial affairs: Zhuquan Su

Leading member of accounting body: Jing Lin

Consolidated Income Statement

January – March 2026

Prepared by: Xiamen Xiangyu Co. Ltd.Unit: Yuan Currency: RMB Type of Audit: Unaudited

Item First Quarter of 2026 First Quarter of 2025

I. Total operating revenue 99121458776.50 97134797634.12

Including: Operating revenue 99121458776.50 97134797634.12

Interest income

Insurance premium earned

Handling charges and commissions income

II. Total operating cost 97398703473.72 96819935074.81

Including: Operating cost 96131835302.42 95526192420.93

Interest expense

Handling charge and commissions expense

Surrender value

Net payment of insurance claims

Net provision in insurance reserve

Policy dividend

Amortized reinsurance expenditures

Taxes and surcharges 128509022.36 114865967.86

Selling expenses 484729148.91 517996080.59

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

Item First Quarter of 2026 First Quarter of 2025

Administrative expenses 335040901.24 299485440.15

Research & development expense 26336917.20 13828190.34

Financial expense 292252181.59 347566974.94

Including: Interest expense 183687671.05 223909577.42

Interest income 72024950.85 112582528.23

Add: Other income 173259285.31 191616077.74

Income from investment (Loss to be filled in

-1312617595.83240257057.73

with “-”)

Including: Income from investment in

57736415.6556140524.36

associated enterprise and joint venture

Income from derecognition of

-3636017.68-17170.83

financial assets measured at amortized cost

Profit or loss on exchange (Loss to be filled

in with “-”)

Net profit on exposure hedging (Loss to be

filled in with “-”)

Income from change in fair value (Loss to

64878306.71169638095.80

be filled in with “-”)

Loss on credit impairment (Loss to be filled

-15382755.7728278286.29

in with “-”)

Asset impairment loss (Loss to be filled in

-54567236.95-259807908.20

with “-”)

Income from disposal of assets (Loss to be

23831301.12576266.44

filled in with “-”)

III. Operating profit (Loss to be filled in with “-”) 602156607.37 685420435.11

Add: Non-operating income 93702450.94 56308340.89

Less: Non-operating expense 38932326.71 17674971.76

IV. Total profits (Total losses to be filled in with “-”) 656926731.60 724053804.24

Less: Income tax expense(Note I) -13020772.50 78857738.97

V. Net profit (Net loss to be filled in with “-”) 669947504.10 645196065.27

(I) Classified by sustainability operation

1. Net profit from sustainable operation (Net

669947504.10645196065.27

loss to be filled in with “-”)

2. Net profit from discontinued operation

(Net loss to be filled in with “-”)

(II) Classified by attribution of ownership

1. Net profit attributable to the shareholders

of the parent company (Net loss to be filled in with 521369392.66 509063945.72

“-”)

2. Minority interest income (Net loss to be

148578111.44136132119.55

filled in with “-”)

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

Item First Quarter of 2026 First Quarter of 2025

VI. Net-of-tax other comprehensive income -22839346.59 -246741197.27

(I) Net-of-tax other comprehensive income

-14021876.77-238287549.91

attributable to the parent company

1. Other comprehensive income that cannot

45073430.01-18872593.31

be reclassified as profit and loss

(1) Amount of changes in re-measurement of

defined benefit plans

(2) Other comprehensive income that cannot

be transferred to profit and loss under the equity

method

(3) Change in fair value of other investments

45073430.01-18872593.31

in equity instruments

(4) Changes in fair value of enterprise’s own

credit risk

2. Other comprehensive income to be

-59095306.78-219414956.60

reclassified as profit and income

(1) Other comprehensive income that can be

transferred to profit and loss under the equity -3451887.70 391029.60

method

(2) Changes in fair value of other investments

on bonds

(3) Amount of financial assets reclassified

and included in other comprehensive income

(4) Provision for credit impairment of other

investments in bonds

(5) Reserve for cash flow hedge 69649941.12 -203599580.45

(6) Translation difference of foreign currency

-125293360.20-16206405.75

financial statements

(7) Others

(II) Net-of-tax other comprehensive income

-8817469.82-8453647.36

attributable to the minority

VII. Total comprehensive income 647108157.51 398454868.00

(I) Total comprehensive income attributable to

507347515.89270776395.81

the owners of the parent company

(II) Total comprehensive income attributable to

139760641.62127678472.19

the minority

VIII. Earnings per share:

(I) Basic earnings per share (Yuan/share) 0.13 0.17

(II) Diluted earnings per share (Yuan/share) 0.13 0.17

Note I: The current income tax expense is negative mainly because loss-making subsidiaries

within the consolidation scope recognize deferred tax assets which serve as an offset to

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

income tax expense. Coupled with the impact of differences in the tax burden structure of

subsidiaries the consolidated income tax expense turns negative on a comprehensive basis.Note II: In case of the merger of enterprises under the same control occurring in the current

period the net profit realized by the merged party before the merger shall be RMB 0.00 and

the net profit realized by the merged party in the previous period shall be RMB 0.00.Person in charge of Company: Jie Wu Person in charge of financial affairs: Zhuquan Su

Leading member of accounting body: Jing Lin

Consolidated Cash Flow Statement

January – March 2026

Prepared by: Xiamen Xiangyu Co. Ltd.Unit: Yuan Currency: RMB Type of Audit: Unaudited

Item First Quarter of 2026 First Quarter of 2025

I. Cash flow from operating activities:

Cash receiving from sales of

112746133644.90109384105568.49

goods and rendering of services

Net increase in customer deposit

and deposit from other banks

Net increase in borrowing from

central bank

Net increase in funds borrowed

from other financial institutions

Cash obtained by receipt of

premiums from original insurance

contracts

Net cash received from

reinsurance business

Net increase in deposit of insured

and investment

Cash received from interests

handling charges and commissions

Net increase in loans from other

banks and other financial

institutions

Net increase in funds for

repurchase business

Net cash received from acting

trading securities

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

Item First Quarter of 2026 First Quarter of 2025

Refund of tax received 316341447.28 437646249.18

Other cash received in relation to

1081310464.59272636036.14

operating activities

Subtotal of cash inflow from

114143785556.77110094387853.81

operating activities

Cash paid for sales of goods and

118891471702.93116025327192.80

rendering of services

Net increase in customer loans

and advances

Net increase in deposit in the

Central Bank and other banks

Cash paid for claims under the

original insurance contract

Net increase in lending to banks

and other financial institutions

Cash paid for interest handling

charges and commissions

Cash paid for policy dividend

Cash paid to and for the

1065419160.65939937025.72

employees

Taxes paid 968989979.17 904286619.23

Other cash paid in relation to

926829733.241417937624.76

operating activities

Subtotal of cash outflow from

121852710575.99119287488462.51

operating activities

Net cash flow from operating

-7708925019.22-9193100608.70

activities

II. Cash flow from investment activities

Cash receiving from investment

7745425122.223031607475.74

withdrawal

Cash receiving from return on

48213.57132701320.66

investment

Net amount of cash receiving

from disposal of fixed assets

121934500.185593751.96

intangible assets and other long-

term assets

Net amount of cash receiving

from disposal of subsidiary and

other business unit

Other cash receiving related to

investment activities

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

Item First Quarter of 2026 First Quarter of 2025

Subtotal of cash inflow from

7867407835.973169902548.36

investment activities

Cash paid to acquire fixed assets

intangible assets and other long- 217180431.08 167771285.71

term assets

Cash paid to acquire investment 4878069841.00 2225034610.32

Net increase in pledge loan

Net amount of cash paid to

acquire subsidiary and other

business unit

Other cash paid related to

7730972.29

investment activities

Subtotal of cash outflow from

5102981244.372392805896.03

investment activities

Net cash flow from

2764426591.60777096652.33

investment activities

III. Cash flow from financing activities:

Cash received from investment

3501457434.715607904127.55

by others

Including: Cash received from

subsidiary investments from 1457434.71 423650000.00

minority shareholders

Cash receiving from borrowings 27647006327.09 32181212434.77

Other cash receiving related to

732300135.64134748178.46

financing activities

Subtotal of cash inflow from

31880763897.4437923864740.78

financing activities

Cash paid for repayment of debt 21544059512.81 27125437550.91

Cash paid for distribution of

dividend profit or payment of 501709242.49 452942938.51

interest

Including: Dividend and profit paid

by subsidiary to minority 185771603.47 131379997.68

shareholders

Other cash paid relating to

1628653576.484259438540.93

financing activities

Subtotal of cash outflow from

23674422331.7831837819030.35

financing activities

Net cash flow from financing

8206341565.666086045710.43

activities

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.Report for First Quarter of 2026

Item First Quarter of 2026 First Quarter of 2025

IV. Effect of exchange rate

changes on cash and cash -79159116.88 -30776691.57

equivalents

V. Net increase in cash and cash

3182684021.16-2360734937.51

equivalents

Add: Beginning balance of cash

15885278448.0816686493830.09

and cash equivalents

VI. Ending balance of cash and

19067962469.2414325758892.58

cash equivalents

Person in charge of Company: Jie Wu Person in charge of financial affairs: Zhuquan Su

Leading member of accounting body: Jing Lin

(3) The implementation of new accounting standards or the new interpretations to the

accounting standards since 2026 involves the adjustment of the financial statements at the

beginning of the year when they are implemented for the first time.□Applicable √Not Applicable

It is hereby announced.The Board of Directors of Xiamen Xiangyu Co. Ltd.

29th April 2026

This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any

discrepancy between the Chinese and English texts.