光峰科技:2025年第一季度报告（英文版）

Appotronics Corporation Limited The First Quarter Report in 2025

Stock Code: 688007 Stock Short Name: Appotronics

Appotronics Corporation Limited

The First Quarter Report in 2025

The Board of Directors and all the directors of the Company warrant that the

information contained in this Report is free from any misrepresentation misleading

statement or material omission and agree to assume the liability for the truth

accuracy and completeness of this Report according to the law.Important Note

The Board of Directors the Board of Supervisors directors supervisors and senior officers of the

Company hereby warrant that the information contained in this Quarter Report is true accurate

and complete and this Report is free from any misrepresentation misleading statement or major

omission and agree to assume joint and several liability for this Quarter Report.The Principal of the Company Person in Charge of the Accounting Work and Person in Charge

of the Accounting Body (Chief Accountant) warrant the information presented in the financial

statements in this Quarter Report is true accurate and complete.Whether the financial statements of the 1st quarter have been audited

□ Yes √ No

本报告为深圳光峰科技股份有限公司自愿披露的《2025年第一季度报告（英文版）》，对本报告的中英文版本理解上发生歧义时，以中文版本为准。

This is 2025 First Quarter Report (English version) voluntarily disclosed by Appotronics

Corporation Limited. In the event of any discrepancy between the English and Chinese versions of this

Report the Chinese version shall prevail.

1 / 18Appotronics Corporation Limited The First Quarter Report in 2025

I. Major Financial Data

(I) Main accounting data and financial indicators

In RMB

Change on a

Item Current period Prior period

year-on-year basis (%)

Operating revenue 461382026.25 445039193.21 3.67

Net profit attributable to

shareholders of the listed -21359576.96 44543331.11 -147.95

company

Net profit attributable to

shareholders of the listed

-23974913.50622945.86-3948.64

company after deduction of

non-recurring profit or loss

Net cash flow from operating

64127372.6812224792.96424.57

activities

Basic earnings per share

-0.050.10-150.00

(RMB/share)

Diluted earnings per share

-0.050.10-150.00

(RMB/share)

Weighted average return on net

-0.78 1.57 -2.35 percentage points

assets (%)

Total R&D investments 63015830.26 54022432.44 16.65

Proportion of R&D investments

13.66 12.14 +1.52 percentage points

to operating revenue (%)

At the end of Changes at the end of

the current At the end of the reporting period

reporting the prior year from the end of the

period prior year (%)

Total assets 4091205356.58 4255663351.00 -3.86

Owners’ equity attributable to

shareholders of the listed 2719899594.77 2740047895.12 -0.74

company

(II) Items and amounts of non-recurring profit or loss

√ Applicable □ N/A

2 / 18Appotronics Corporation Limited The First Quarter Report in 2025

In RMB

Amount for the

Item of non-recurring profit or loss Description

current period

Gain or loss on disposal of non-current assets including write-off

833766.07

of provision for asset impairment

Government grants recognized in profit or loss for the current

period (excluding government grants that are closely related to

the business of the Company and are provided in accordance

714707.83

with established standards with continuous effects on the profit

or loss of the Company according to the provisions of national

policies)

Profit or loss on changes in the fair value of financial assets and

financial liabilities held by non-financial enterprises and profit or

loss on the disposal of financial assets and financial liabilities 783124.94

other than those used in the effective hedging activities related to

normal operating business of the Company

Profit or loss from entrusting others to invest or manage assets 596598.66

Net profit or loss of subsidiaries from the beginning of the period

up to the business combination date recognized as a result of 185274.09

business combination involving entities under common control

Other non-operating revenue and expenses 50461.54

Other profits or losses items meeting the definition of

non-recurring profit or loss

Less: Effect of income taxes 375024.46

Effects attributable to minority interests (net of tax) 173572.13

Total 2615336.54

It is required to specify the reason for defining items not illustrated in the Information Disclosure and

Presentation Rules for Companies Making Public Offering of Securities No. 1 - Non-recurring Profit or

Loss as non-recurring profit or loss items of significant amounts and reasons for defining non-recurring

profit or loss items illustrated in the Information Disclosure and Presentation Rules for Companies

Making Public Offering of Securities No. 1 - Non-recurring Profit or Loss as recurring profit or loss

items.□ Applicable √ N/A

(III) Description of and reasons for changes in the main accounting data and financial indicators

√ Applicable □ N/A

Project % Change Main reason

Primarily due to the decrease in the gross

profits and increase in R&D expenses caused

Net profit attributable to

by the changes in the income structure in the

shareholders of the listed -147.95

current period the selling and holding of

company

shares in Gabrielle and the gains on changes in

fair values in the same period of the prior year.

3 / 18Appotronics Corporation Limited The First Quarter Report in 2025

Primarily due to the small base number in the

Net profit attributable to

same period of the prior year and the decrease

shareholders of the listed

-3948.64 in the gross profits and increase in R&D

company after deduction of

expenses caused by the changes in the income

non-recurring profit or loss

structure in the current period.Primarily due to the increase in receivables

Net cash flow from operating

424.57 from the automotive business in the current

activities

period.Primarily due to the decrease in the net profit

Basic earnings per share

-150.00 attributable to shareholders of the listed

(RMB/share)

company during the reporting period.Primarily due to the decrease in the net profit

Diluted earnings per share

-150.00 attributable to shareholders of the listed

(RMB/share)

company during the reporting period.

1. Analysis of business operationIn the first quarter of 2025 we insisted on the strategy of “core technologies + core components +application scenarios” and maintained the R&D investments in upstream core components and

cutting-edge fields with a focus on the layout of and expansion to innovative fields including AR/AI

robots automotive optics etc. During the reporting period our operating revenue was RMB 461 million

increased by 3.67% year on year; where the automotive optics business achieved the operating revenue

of RMB 78.78 million up by 64.03% year on year. The operating conditions of the Company during the

reporting period include:

? Automotive optics business

Since the beginning of 2025 we have acquired 3 high-quality nominations from domestic and

overseas well-known automobile manufacturers and received continuous orders from Seres for

automotive projection giant screen systems to be used on AITO M8 and M9 models. In the first quarter

of 2025 our automotive optics business achieved the operating revenue of RMB 78.78 million up by

64.03% year on year.

In April 2025 we officially released the “Lingjing” smart automotive optics system on the

Shanghai International Automobile Industry Exhibition 2025 (Auto Shanghai 2025). This system can

achieve discretionary projection for the whole vehicle and smart interaction through AI speech controlso as to create a new mode of automotive optics featuring “full projection in the vehicle withdiscretionary projection” and improve the optical features and user experiences of the vehicle in all

4 / 18Appotronics Corporation Limited The First Quarter Report in 2025

aspects. During the Auto Shanghai 2025 we declared a strategic cooperation with Valeo a global leader

in automotive lighting systems and software and jointly released a new generation of automotive

lighting solutions integrating Appotronics’s ALL-in-ONE universal colorful laser headlights. This

innovative solution not only enhances the adaptive driving beam (ADB) function of vehicles to greatly

improve safety on road but also meets drivers’ increasing needs for comfortable lighting and

entertainment functions so as to provide a safer smarter and more personalized driving experiences for

the global market.? Dedicated display business

In the World Expo 2025 (Expo 2025) in Osaka started in April 2025 our products were successfully

used in the pavilions of China Cambodia and Gabon. Nearly a hundred of laser large venue projection

devices broke through the boundaries of physical exhibition and implemented tens of light and shadow

presentation tasks which facilitate the presentation of the culture of the countries in a more vivid

manner by making use of technologies hence showcasing the scientific strength and brand image of

China by opening the global laser market with our technologies and products. The recognition and use of

our products by three major national pavilions at the Expo 2025 indicate the successful expansion of our

large venue business to the overseas market relying on its product quality and technology accumulation.? Innovative applications

We always pay attention to emerging application scenarios in the laser industry and actively explore

product layouts and application scenarios for combination with our technologies so as to continuously

expand and extend the boundaries for application scenarios of laser technologies. At the International

Consumer Electronics Show (CES 2025) we released a split-type optical fiber light engine which is the

first of its kind in the industry. This product achieved innovation for laser light engines in aspects of

technology product form and application scenario and can achieve unprecedented flexibility.Meanwhile we released an ultra-small fully colorful AR light engine solution with the volume of only

0.8cc featuring high cost-performance ratio low power consumption and outstanding display effects

which can meet the lightweight requirements of AR glasses.At the Hong Kong Electronics Fair (Spring Edition) we released a new laser engraver product to

the industry for the first time. The laser engraver is both a breakthrough achieved by the Company in

upstream core components and the first innovative product we developed in the industrial field. Thanks

5 / 18Appotronics Corporation Limited The First Quarter Report in 2025

to the precision laser processing technologies the laser engraver we released has obvious advantages in

improving production efficiency and ensuring product quality so that it can meet high-precision

manufacturing requirements for use in scenarios including creative fabrication part processing

industrial labeling etc. The new products and new technologies we exhibited this time are highly

practical and are expected to be implemented in more scenarios. We will continue our innovation of

application scenarios for laser so as to expand the application boundaries of our products.

2. Profit analysis

（1）Non-recurring profit or loss: During the reporting period our non-recurring profit or loss

reduced by RMB 41.3050 million. On a comparable basis our non-recurring profit or loss for the first

quarter of 2024 was higher primarily due to the investment incomes from our investment in Gabrielle

and gains or losses on changes in fair values in the first quarter of 2024;

（2）Businesses: During the reporting period at the request of overseas customers we postponed

the shipment of partial orders of overseas cinema light sources which reduced the operating revenue and

profit for the first quarter on a year-on-year basis; despite the increase in the proportion of the

automotive optics business due to the characteristics of the automotive part industry the gross profit

margin of the automotive optics business is lower than that of the cinema and dedicated display

businesses. In summary our business structure is at the stage of transformation and the overall gross

profit margin may decrease to a certain extent;

（3）Expenses: During the reporting period we enhanced R&D investments - the R&D expenses

increased by nearly RMB 9.00 million compared with the same period of the prior year.II. Shareholder Information

(I) Table of total number of ordinary shareholders and preferred shareholders with resumed voting

right as well as shareholding status of top 10 shareholders

Unit: Share

Total number of preferred

Total number of ordinary shareholders shareholders whose voting right

16222 N/A

as of the end of the reporting period has been restituted as of the end of

the reporting period (if any)

Shares held by top 10 shareholders (excluding shares lent out under the refinancing arrangement)

6 / 18Appotronics Corporation Limited The First Quarter Report in 2025

Number of Shares

Number non-tradable pledged

Shareh of shares held marked or

Nature of Number of olding non-trad including the frozen

Shareholder

shareholder shares held ratio able shares lent

Status

(%) shares out under the Num

held refinancing ber

arrangement

Domestic

Shenzhen Appotronics non-state

79762679 17.37 0 0 None 0

Holdings Limited owned

corporation

Shenzhen Yuanshi Laser Domestic

Industrial Investment non-state

24139500 5.26 0 0 None 0

Consulting Partnership owned

(LP) corporation

Domestic

Nantong Strait

non-state

Appotronics Investment 18381208 4.00 0 0 None 0

owned

Partnership (LP)

corporation

Domestic

Shenzhen Appotronics

non-state

Daye Investment 17056167 3.71 0 0 None 0

owned

Partnership (LP)

corporation

Domestic

Shenzhen Appotronics

non-state

Hongye Investment 13601344 2.96 0 0 None 0

owned

Partnership (LP)

corporation

Domestic

Shenzhen Appotronics

non-state

Chengye Consulting 10394846 2.26 0 0 None 0

owned

Partnership (LP)

corporation

Domestic

Shenzhen Jinleijing

non-state

Investment Limited 9892706 2.15 0 0 None 0

owned

Partnership (LP)

corporation

Domestic

LUO Xiaobin natural 8979004 1.95 0 0 None 0

person

Hong Kong Securities

Foreign

Clearing Company 7475665 1.63 0 0 None 0

corporation

Limited

7 / 18Appotronics Corporation Limited The First Quarter Report in 2025

Bank of China Co. Ltd. -

Stable Income Bond

Others 6866571 1.50 0 0 None 0

Securities Investment

Fund of E Fund

Shares held by top 10 holders of tradable shares (excluding shares lent out under the refinancing

arrangement)

Type and number of shares

Shareholder Number of tradable shares held Type of Number

RMB-denomi

Shenzhen Appotronics Holdings Limited 79762679 nated ordinary 79762679

RMB-denomi

Shenzhen Yuanshi Laser Industrial

24139500 nated ordinary 24139500

Investment Consulting Partnership (LP)

RMB-denomi

Nantong Strait Appotronics Investment

18381208 nated ordinary 18381208

Partnership (LP)

RMB-denomi

Shenzhen Appotronics Daye Investment

17056167 nated ordinary 17056167

Partnership (LP)

RMB-denomi

Shenzhen Appotronics Hongye

13601344 nated ordinary 13601344

Investment Partnership (LP)

RMB-denomi

Shenzhen Appotronics Chengye

10394846 nated ordinary 10394846

Consulting Partnership (LP)

RMB-denomi

Shenzhen Jinleijing Investment Limited

9892706 nated ordinary 9892706

Partnership (LP)

RMB-denomi

LUO Xiaobin 8979004 nated ordinary 8979004

RMB-denomi

Hong Kong Securities Clearing Company

7475665 nated ordinary 7475665

Limited

Bank of China Co. Ltd. - Stable Income RMB-denomi

Bond Securities Investment Fund of E 6866571 nated ordinary 6866571

Fund share

8 / 18Appotronics Corporation Limited The First Quarter Report in 2025

1. As of March 31 2025 the following entities in top 10 shareholders

of the Company constituted person acting in concert: Shenzhen

Appotronics Holdings Co. Ltd. Shenzhen Yuanshi Laser Industrial

Investment Consulting Partnership (LP) Shenzhen Appotronics Daye

Investment Partnership (LP) Shenzhen Appotronics Hongye

Affiliates or concert parties among the

Investment Partnership (LP) Shenzhen Appotronics Chengye

shareholders stated above

Consulting Partnership (LP) and Shenzhen Jinleijing Investment

Limited Partnership (LP).

2. Except for the above we are not aware of whether there are affiliates

or concert parties as defined in the Administrative Measures for the

Acquisition of the Listed Companies among other shareholders.Description of margin trading short

selling and refinancing involving top

N/A

10 shareholders and top 10 holders of

non-restricted shares (if any)

Lending of shares in refinancing businesses by shareholders holding over 5% shares top 10 shareholders

and top 10 holders of tradable shares

□ Applicable √ N/A

Change from the prior period due to lending/payback in refinancing businesses by top 10 shareholders

and top 10 holders of tradable shares

□ Applicable √ N/A

III. Other Events

Other important information about the business operation of the Company during the reporting period

requesting the attention of investors

□ Applicable √ N/A

IV. Quarterly Financial Statements

(I) Type of audit opinions

□ Applicable √ N/A

(II) Financial statements

Consolidated Balance Sheet

March 31 2025

Prepared by: Appotronics Corporation Limited

In RMB Audit type: Unaudited

Item March 31 2025 December 31 2024

Current Assets:

9 / 18Appotronics Corporation Limited The First Quarter Report in 2025

Cash and bank balances 1169391687.61 1654769306.21

Balances with clearing agencies

Placements with banks and other financial

institutions

Held-for-trading financial assets 665719864.14 179936739.21

Derivative financial assets

Notes receivable 3336885.44 4749524.13

Accounts receivable 211836897.65 310195322.17

Receivables financing 19189555.03 12552177.09

Prepayments 28642754.32 31091853.76

Premiums receivable

Amounts receivable under reinsurance

contracts

Reinsurance contract reserves receivable

Other receivables 39810718.96 45104401.76

Where: Interests receivable

Dividends receivable 14212836.00 14233032.00

Financial assets purchased under resale

agreements

Inventories 480357456.50 595519245.19

Where: Data resources

Contract assets 2508524.31 1741984.19

Held-for-sale assets

Non-current assets due within one year 55152472.68 54729347.74

Other current assets 68817383.78 65416667.70

Total current assets 2744764200.42 2955806569.15

Non-current Assets:

Loans and advances

Debt investments

Other debt investments

Long-term receivables 38061954.60 37190876.33

Long-term equity investment 5822086.82 6242039.74

Investment in other equity instruments 7075419.38 7075419.38

Other non-current financial assets 83880808.01 84000000.04

Investment properties

Fixed assets 639136843.25 272101764.36

Construction in progress 95643581.17 406450625.01

Productive biological assets

Oil and gas assets

Right-of-use assets 91274546.36 108676133.66

Intangible assets 268845441.09 272019178.23

Where: Data resources

Development expenditure

10 / 18Appotronics Corporation Limited The First Quarter Report in 2025

Where: Data resources

Goodwill

Long-term unamortized expenses 1246038.43 1638295.71

Deferred tax assets 97581772.18 90057468.25

Other non-current assets 17872664.87 14404981.14

Total non-current assets 1346441156.16 1299856781.85

Total assets 4091205356.58 4255663351.00

Current Liabilities:

Short-term borrowings 126830365.55 86796568.44

Loans from the central bank

Taking from banks and other financial

institutions

Held-for-trading financial liabilities

Derivative financial liabilities

Notes payable 160075016.99 184786728.04

Accounts payable 254966909.43 351760010.32

Advance from customers 89239185.59 91209867.92

Contract liabilities 41981297.61 43722313.68

Financial assets sold under repurchase

agreements

Customer deposits and deposits from

banks and other financial institutions

Funds from securities trading agency

Funds from underwriting securities agency

Employee benefits payable 28753068.10 59921145.44

Taxes payable 27997363.58 25262217.19

Other payables 69393730.08 73987139.27

Where: Interests payable

Dividends payable

Fees and commissions payable

Amounts payable under reinsurance

contracts

Held-for-sale liabilities

Non-current liabilities due within one year 204344687.54 216244559.49

Other current liabilities 66083387.13 63559833.08

Total current liabilities 1069665011.60 1197250382.87

Non-current Liabilities:

Insurance contract reserves

Long-term borrowings 278867657.19 282083548.67

Bonds payable

Where: Preferred shares

Perpetual bonds

Lease liabilities 59399597.33 71996166.91

11 / 18Appotronics Corporation Limited The First Quarter Report in 2025

Long-term payables

Long-term employee benefits payable

Provisions 36924947.29 30299456.94

Deferred income 2000562.66 2245051.44

Deferred tax liabilities 1921091.47 1908071.13

Other non-current liabilities

Total non-current liabilities 379113855.94 388532295.09

Total liabilities 1448778867.54 1585782677.96

Owners’ Equity (Shareholders’ Equity):

Paid-in capital (or share capital) 459291145.00 459291145.00

Other equity instruments

Where: Preferred shares

Perpetual bonds

Capital reserve 1555546613.51 1554154511.33

Less: Treasury shares 29891962.32 29891962.32

Other comprehensive income 8450591.43 8631417.00

Special reserve

Surplus reserve 103160084.90 103160084.90

General risk reserve

Undistributed profit 623343122.25 644702699.21

Total owners’ (or shareholders’) equity

attributable to owners of the parent 2719899594.77 2740047895.12

company

Minority interests -77473105.73 -70167222.08

Total owners’ (or shareholders’) equity 2642426489.04 2669880673.04

Total liabilities and owners’ (or

4091205356.584255663351.00

shareholders’) equity

Principal of the Company: LI Yi Person in Charge of the Accounting Work: WANG Yingxia

Person in Charge of the Accounting Body: WANG Yingxia

Consolidated Income Statement

January to March 2025

Prepared by: Appotronics Corporation Limited

In RMB Audit type: Unaudited

Item First quarter of 2025 First quarter of 2024

I. Total operating revenue 461382026.25 445039193.21

Where: Operating revenue 461382026.25 445039193.21

Interest income

Premiums earned

Fee and commission income

II. Total operating costs 485731424.15 436256932.50

12 / 18Appotronics Corporation Limited The First Quarter Report in 2025

Where: Operating costs 345083519.38 305903493.15

Interest expenses

Fee and commission expenses

Surrenders

Claims and policyholder benefits (net of

amounts recoverable from reinsurers)

Net withdrawal of insurance contract

reserves

Insurance policyholder dividends

Expenses for reinsurance accepted

Taxes and surcharges 2757883.51 1543505.22

Selling expenses 38636068.43 38848722.23

Administrative expenses 35880897.77 39231871.63

R&D expenses 63015830.26 54022432.44

Financial expenses 357224.80 -3293092.17

Where: Interest expense 4040777.00 4712870.30

Interest income 5806131.65 8393771.91

Add: Other incomes 6839682.12 10334146.75

Investment income (loss is indicated by

-508740.5515035443.71

“-”)

Where: Income from investments in

-419952.92-254854.31

associates and joint ventures

Gains from derecognition of

financial assets measured at amortized cost

Foreign exchange gains (loss is indicated

by “-”)

Gains from net exposure hedges (loss is

indicated by “-”)

Gains from changes in fair values (loss is

783124.9426277500.00

indicated by “-”)

Losses of credit impairment (loss is

3317736.65-1694116.42

indicated by “-”)

Impairment losses of assets (loss is

-12280962.90-4251644.39

indicated by “-”)

Gains from disposal of assets (loss is

884133.99112025.61

indicated by “-”)

III. Operating profit (loss is indicated by “-”) -25314423.65 54595615.97

Add: Non-operating revenue 180945.64 15252.07

Less: Non-operating expenses 180852.02 367856.76

IV. Total profits (total losses are indicated by “-”) -25314330.03 54243011.28

Less: Income tax expenses -950840.50 12901079.19

V. Net profits (net losses are indicated by “-”) -24363489.53 41341932.09

(I) Categorized by the continuity of operation

13 / 18Appotronics Corporation Limited The First Quarter Report in 2025

1. Net profits from continuing operations (net

-24363489.5341341932.09

losses are indicated by "-")

2. Net profits from discontinued operations

(net losses are indicated by “-”)

(II) Categorized by the ownership

1. Net profits attributable to shareholders of

the parent company (net losses are indicated by -21359576.96 44543331.11

“-”)

2. Profits or losses attributable to minority

-3003912.57-3201399.02

shareholders (net losses are indicated by “-”)

VI. Other comprehensive income net of tax -113660.21 423343.93

(I) Other comprehensive income that can be

attributable to owners of the parent company net -180825.57 318931.77

of tax

1. Other comprehensive income that cannot

be reclassified subsequently to profit or loss

(1) Changes from remeasurement of defined

benefit plans

(2) Other comprehensive income that cannot be

reclassified to profit or loss under the equity

method

(3) Changes in fair value of investments in other

equity instruments

(4) Changes in fair value of enterprises’ own

credit risks

2. Other comprehensive income that will be -180825.57 318931.77

reclassified to profit or loss

(1) Other comprehensive income that will be

reclassified to profit or loss under the equity

method

(2) Changes in fair value of other debt

investments

(3) Amount of financial assets reclassified to

other comprehensive income

(4) Provision for credit impairment of other

debt investments

(5) Reserve for cash flow hedges

(6) Exchange differences on translation of -180825.57 318931.77

financial statements denominated in foreign

currencies

(7) Others

(II) Other comprehensive income that can be

67165.36104412.16

attributable to minority shareholders net of tax

14 / 18Appotronics Corporation Limited The First Quarter Report in 2025

VII. Total comprehensive income -24477149.74 41765276.02

(I) Total comprehensive income that can be

-21540402.5344862262.88

attributable to owners of the parent company

(II) Total comprehensive income that can be

-2936747.21-3096986.86

attributable to minority shareholders

VIII. Earnings per share:

(I) Basic earnings per share (RMB/share) -0.05 0.10

(II) Diluted earnings per share (RMB/share) -0.05 0.10

In the event of business combinations involving entities under common control the net profits realized

prior to the combination by the party being absorbed is: RMB 0 and the net profits realized in the last

period by the party being absorbed is: RMB 0.Principal of the Company: LI Yi Person in Charge of the Accounting Work: WANG Yingxia

Person in Charge of the Accounting Body: WANG Yingxia

Consolidated Cash Flow Statement

January to March 2025

Prepared by: Appotronics Corporation Limited

In RMB Audit type: Unaudited

Item First quarter of 2025 First quarter of 2024

I. Cash Flows from Operating Activities:

Cash receipts from the sale of goods and the 603948334.40 458063284.69

rendering of services

Net increase in customer deposits and deposits

from banks and other financial institutions

Net increase in loans from the central bank

Net increase in taking from banks and other

financial institutions

Cash receipts from premiums under direct

insurance contracts

Net cash receipts from reinsurance business

Net cash receipts from policyholders’ deposits

and investment contract liabilities

Cash receipts from interest fees and

commissions

Net increase in taking from banks

Net increase in financial assets sold under

repurchase arrangements

Net cash received from securities trading

agencies

Receipts of tax refunds 7726367.13 3613547.07

Other cash receipts related to operating 10750106.30 17358037.32

activities

15 / 18Appotronics Corporation Limited The First Quarter Report in 2025

Subtotal of cash inflows from operating 622424807.83 479034869.08

activities

Cash payments for goods purchased and 341011825.30 247377326.75

services received

Net increase in loans and advances to

customers

Net increase in balance with the central bank

and due from banks and other financial

institutions

Cash payments for claims and policyholders'

benefits under direct insurance contracts

Net increase in placements with banks and

other financial institutions

Cash payments for interest fees and

commissions

Cash payments for insurance policyholder

dividends

Cash payments to and on behalf of employees 129727139.26 135358112.47

Payments of various types of taxes 22032544.43 17746847.25

Other cash payments related to operating 65525926.16 66327789.65

activities

Subtotal of cash outflows from operating 558297435.15 466810076.12

activities

Net cash flow from operating activities 64127372.68 12224792.96

II. Cash Flows from Investing Activities:

Cash receipts from disposals and recovery of 262000000.00 316950000.00

investments

Cash receipts from investment income 596598.66 15474786.27

Net cash receipts from disposals of fixed

assets intangible assets and other long-term 43545.13

assets

Net cash receipts from disposals of subsidiaries

and other business units

Other cash receipts related to investing

activities

Subtotal of cash inflows from investing

262596598.66332468331.40

activities

Cash payments to acquire or construct fixed

assets intangible assets and other long-term 90403931.06 24423820.06

assets

Cash payments to acquire investments 777000000.00 335000001.00

Net increase in pledged loans receivables

Net cash payments for acquisitions of

16 / 18Appotronics Corporation Limited The First Quarter Report in 2025

subsidiaries and other business units

Other cash payments related to investing 1361661.36

activities

Subtotal of cash outflows from investing

867403931.06360785482.42

activities

Net cash flows from investment activities -604807332.40 -28317151.02

III. Cash Flows from Financing Activities:

Cash receipts from capital contributions 7327467.64

Where: Cash receipts from capital

contributions from minority shareholders of

subsidiaries

Cash receipts from borrowings 78603095.90 41923143.29

Other cash receipts related to financing -

activities

Subtotal of cash inflows from financing

78603095.9049250610.93

activities

Cash repayments of borrowings 42800000.00 73550000.00

Cash payments for distribution of dividends or

4420333.485755799.95

profits or settlement of interest expenses

Where: Payments for distribution of dividends

or profits to minority shareholders of 323762.05

subsidiaries

Other cash payments related to financing

7717098.3751446720.89

activities

Subtotal of cash outflows from financing

54937431.85130752520.84

activities

Net cash flows from financing activities 23665664.05 -81501909.91

IV. Effect of Foreign Exchange Rate Changes

-1024105.48652614.64

on Cash and Cash Equivalents

V. Net Increase in Cash and Cash Equivalents -518038401.15 -96941653.34

Add: Opening balance of cash and cash 1326535771.86 1297848895.75

equivalents

VI. Closing Balance of Cash and Cash 808497370.71 1200907242.41

Equivalents

Principal of the Company: LI Yi Person in Charge of the Accounting Body: WANG Yingxia

Person in Charge of the Accounting Body: WANG Yingxia

(III) Description of adjustments in opening balances of line items in financial statements of the

year due to initial adoption of new accounting standards or interpretations of standards since

2025

□ Applicable √ N/A

17 / 18Appotronics Corporation Limited The First Quarter Report in 2025

Be it hereby announced.Board of Directors of Appotronics Corporation Limited

April 30 2025

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