2025 First Quarterly Report

Stock code: 002493 Stock abbreviation: Rongsheng Petrochemical Announcement No.: 2025-030

Rongsheng Petrochemical Co. Ltd.2025 First Quarterly Report

The Company and all members of the Board of Directors warrant that the information

disclosed is true accurate and complete and has no false representations misleading

statements or material omissions.Important notice:

1. The Board of Directors the Board of Supervisors and the directors supervisors and senior management warrant

that the quarterly report is true accurate and complete and has no false representations misleading statements or

material omissions and assume several and joint liabilities.

2. The person in charge of the Company the person in charge of the accounting affairs and the person in charge of

the accounting firm (accounting officer) hereby make representations in respect of the truthfulness accuracy and

completeness of the financial statements in this quarterly report.

3. Whether the First Quarterly Report has been audited

□Yes □No

I. Key Financial Data

(I) Key accounting data and financial indicators

Whether the Company needs to retroactively adjust or restate prior years’ accounting data

□Yes □No

Current reporting Same period last Increase/decrease in the current period year reporting period over the same period last year (%)

Operating revenue (RMB) 74975429161.64 81088312171.89 -7.54%

Net profit attributable to owners of parent

company (RMB) 588401349.75 552356783.62 6.53%

Net profit attributable to owners of parent

company net of non-recurring gain and 618349603.39 474627417.74 30.28%

loss (RMB)

Net cash flows from operating activities 7977336348.96 4129270983.86 93.19%

12025 First Quarterly Report

(RMB)

Basic earnings per share (RMB per share) 0.06 0.06

Diluted earnings per share (RMB per

share) 0.06 0.06

Weighted average return on net assets 1.33% 1.24% 0.09%

End of the Increase/decrease at the end of the reporting period End of last year reporting period over the end of last year (%)

Total assets (RMB) 391005092490.96 377845944183.98 3.48%

Total equity attributable to the parent

company (RMB) 44359664314.69 43859172287.65 1.14%

(II) Items and amounts of non-recurring gain and loss

□Applicable □Not applicable

Unit: RMB

Amount in the

Item current reporting Notes

period

Government grants included in the current profits and losses (except those closely

related to the Company's normal business operations which are in line with

national policies enjoyed according to certain standards and have a continuous 29345677.03

impact on the Company's profits and losses)

Except for the effective hedging business related to the Company's normal

business the gains and losses of the fair value changes arising from financial

assets and financial liabilities held by non-financial enterprises and the gains and -56196028.02

losses arising from the disposal of financial assets and financial liabilities

Fund possession cost included in the current gains and losses charged to non-

financial enterprises 87877.35

Other non-operating revenues and expenditures except for the aforementioned

items -12923599.03

Other gain/loss items falling within the definition of non-recurring gains or losses -2627101.15

Less: Affected amount of income tax 14103703.22

Affected amount of minority shareholders' equity (after tax) -26468623.40

Total -29948253.64 --

Other gain/loss items falling within the definition of non-recurring gains or losses

□Applicable □Not applicable

The Company has no other gain/loss items falling within the definition of non-recurring gains or losses.Explanation of the circumstances in which the non-recurring gain and loss items listed in the Explanatory

Announcement No. 1 on Information Disclosure of Companies Publicly Issuing Securities-Non-recurring Gains and

Losses are defined as recurring gains and losses.□Applicable □Not applicable

The Company has no explanation of the circumstances in which the non-recurring gain and loss items listed in the

Explanatory Announcement No. 1 on Information Disclosure of Companies Publicly Issuing Securities-Non-

recurring Gains and Losses are defined as recurring gains and losses.

22025 First Quarterly Report

(III) Changes in key accounting data and financial indicators and reasons thereof

□Applicable □Not applicable

Balance at

Balance at the the end of

Items of the end of this the reporting

Balance Sheet reporting period in the Variations Reasons for changes period (RMB previous

'0000) year (RMB

'0000)

Receivables

financing 35762.96 10322.57 246.45%

Mainly due to the increase in bank acceptance bills

received for the Company's payment of goods

Advances paid 341232.67 135451.97 151.92% Mainly due to the increase in the Company's prepayments for raw materials

Derivative financial 864.44 3465.54 -75.06% Mainly due to the floating position of the Company's liabilities paper futures held at the end of the current period

Contract liabilities 372149.06 599558.05 -37.93% Mainly due to changes in advance payments of the Company

Taxes and rates

payable 216185.72 127786.25 69.18%

Mainly due to the increase in consumption tax

payable at the end of this period

Other current 46648.44 74235.19 37.16% Mainly due to the corresponding tax impact from the liabilities decrease in advance payments of the Company

From the

beginning of

Items of the Income the year to the

Same period

end of the last year Statement Variations Reasons for changes reporting (RMB

period (RMB '0000)

'0000)

Gains on changes in

fair value (or less: -10991.67 2525.85 -535.17% Mainly due to fair value change of held-for-trading

losses) financial liabilities of the Company

Other income 82268.99 35242.18 133.44% Mainly due to the benefit from the additional VAT deduction policy of the Company in this period

Mainly due to the discount expenses such as notes

Investment income 14941.37 -2990.56 599.62% receivable transferred to financing expenses

according to the new guide of the Company

Credit impairment Mainly due to the collection of accounts receivable

loss 904.31 -4826.33 118.74% from the beginning of the year leading to corresponding adjustments in bad debt provisions

Assets impairment

loss -8649.73 -98.17 -8711.04%

Mainly due to the inventories with provision for

inventory write-down

Non-operating

expenditures 1368.28 55.73 2355.14% Mainly due to the impact of donation expenses

Income tax expenses 11392.67 17146.18 33.56% Mainly due to the recognition of deferred tax expenses

From the

beginning of

the year to the Same period Items of the Cash last year

Flow Statement end of the (RMB Variations Reasons for changes reporting

period (RMB '0000)

'0000)

32025 First Quarterly Report

Net cash flows from 830733.63 412927.10 101.18% Mainly due to the timely recovery of loans of the operating activities Company

II. Shareholders’ Information

(I) Total number of shareholders of ordinary shares and shareholders of preferred shares with restored voting

rights and shareholdings of the top ten shareholders

Unit: share

Total number of common

shareholders at the end of the 87976 Total number of preferred shareholders with voting

reporting period rights restored at the end of the reporting period (if any)

0

Shareholding of the Top 10 Shareholders (excluding shares lent out through refinancing)

Number of Pledge marking or

shares held freezing

Name of shareholders Nature of Shareholding Number of with shareholders ratio (%) shares held limited Share

sales status Number

conditions

Zhejiang Rongsheng Holding Domestic non-state-owned 53.16% 538265973 0 Not Group Co. Ltd. 0 legal person 4 applicable

Aramco Overseas Company B.V. Overseas legal 10.00% 101255250 0 Not person 1 applicable 0

Li Shuirong Domestic 6.35% 643275000 48245625 Not natural person 0 applicable 0

Hong Kong Securities Clearing Overseas legal Not

Company Limited person 1.82% 184363768 0 applicable 0

Li Guoqing Domestic natural person 0.95% 96525000 72393750

Not

applicable 0

Xu Yuejuan Domestic natural person 0.95% 96525000 0

Not

applicable 0

Li Yongqing Domestic natural person 0.95% 96525000 72393750

Not

applicable 0

Horizon Asset - Huaneng

Trust · Jiayue No. 7 Single Fund

Trust - Horizon Asset Huixin No. Other 0.54% 55148287 0 Not 0

43 Single Asset Management applicable

Plan

Hua'neng Guicheng Trust Co.Ltd. - Hua'neng Trust · Rongyue Other 0.49% 50078500 0 Not Weicheng collective funds trust applicable 0

plan

Industrial and Commercial Bank

of China Limited – Huatai-

PineBridge CSI 300 Exchange Other 0.49% 49789651 0 Not 0

Traded Open-End Index applicable

Securities Investment Fund

Shareholding of top 10 shareholders not subject to sales restrictions (excluding shares lent through refinancing and

executive lock-in shares)

Name of shareholders Number of shares held with

Class of shares

unlimited sales conditions Class of shares Number

42025 First Quarterly Report

Zhejiang Rongsheng Holding Group Co. Ltd. 5382659734 RMB ordinary shares 5382659734

Aramco Overseas Company B.V. 1012552501 RMB ordinary shares 1012552501

Hong Kong Securities Clearing Company Limited 184363768 RMB ordinary shares 184363768

Li Shuirong 160818750 RMB ordinary shares 160818750

Xu Yuejuan 96525000 RMB ordinary shares 96525000

Horizon Asset - Huaneng Trust · Jiayue No. 7

Single Fund Trust - Horizon Asset Huixin No. 43 55148287 RMB ordinary 55148287

Single Asset Management Plan shares

Hua'neng Guicheng Trust Co. Ltd. - Hua'neng

Trust · Rongyue Weicheng collective funds trust 50078500 RMB ordinary

plan shares

50078500

Industrial and Commercial Bank of China Limited –

Huatai-PineBridge CSI 300 Exchange Traded 49789651 RMB ordinary 49789651

Open-End Index Securities Investment Fund shares

Dai Deming 48000000 RMB ordinary shares 48000000

Ni Xincai 47925000 RMB ordinary shares 47925000

Among the top 10 shareholders Zhejiang Rongsheng Holding Group Co.Ltd. is the controlling shareholder of the Company Li Yongqing and Li

Explanation of the relationship or concerted action Guoqing are nephews of Li Shuirong Chairman of the Board of Directors

among the above shareholders of Zhejiang Rongsheng Holding Group Co. Ltd. Xu Yuejuan is sister-in-law of Li Shuirong forming associated relationships. In addition to the

above associated relationships the Company has no knowledge of whether

other shareholders are related to each other or act in concert.Securities margin trading business attended by top Zhejiang Rongsheng Holding Group Co. Ltd. holds 5342659734 shares

10 shareholders (if any) through an ordinary account and 40000000 shares through a credit account.

Note: Among the top 10 shareholders Rongsheng Petrochemical Co. Ltd. held 553232858 shares in its special

securities account for repurchase accounting for 5.46% of the Company’s total share capital.The lending of shares by the shareholders holding more than 5% of shares top ten shareholders and top ten

shareholders of circulating shares not subject to selling restrictions in the refinancing business

□Applicable □Not applicable

Change from the previous period due to lending/returning of shares from/to the top ten shareholders and top ten

shareholders of circulating shares not subject to selling restrictions in the refinancing business

□Applicable □Not applicable

(II) The total number of shareholders of preferred shares of the Company and the shareholdings of the top

10 shareholders of preferred shares

□Applicable □Not applicable

III. Other Important Matters

□Applicable □Not applicable

52025 First Quarterly Report

IV. Quarterly Financial Statements

(I) Financial statements

1. Consolidated balance sheet

Prepared by: Rongsheng Petrochemical Co. Ltd.March 31 2025

Unit: RMB

Items Ending balance Beginning balance

Current assets:

Cash and bank balances 28305280394.53 14833384920.45

Settlement funds

Loans to other banks

Held-for-trading financial assets

Derivative financial assets 493109694.34 475766685.17

Notes receivable

Accounts receivable 3951835325.48 6821971706.36

Receivables financing 357629583.87 103225654.46

Advances paid 3412326688.21 1354519708.48

Premium receivables

Reinsurance accounts receivables

Reinsurance reserves receivable

Other receivables 5205412517.03 4345964007.66

Including: Interest receivables

Dividends receivable

Financial assets under reverse repo

Inventories 42035267231.34 44566934616.59

including: data resources

Contract assets

Assets held for sale

Non-current assets due within one year

Other current assets 4916061348.10 5801152355.65

Total current assets 88676922782.90 78302919654.82

Non-current assets:

Loans and advances

62025 First Quarterly Report

Debt investments

Other debt investments

Long-term receivables

Long-term equity investments 9528105961.15 9516636321.17

Other equity instrument investments

Other non-current financial assets

Investment property 10056267.10 10124128.60

Fixed assets 228629134995.99 232497113015.70

Construction in progress 50193461245.86 44036132096.28

Productive biological assets

Oil & gas assets

Right-of-use assets 172929022.03 176237821.55

Intangible assets 8104368649.11 8142781094.80

including: data resources

Development expenditures

including: data resources

Goodwill

Long-term prepayments

Deferred tax assets 1270818260.88 1237176277.28

Other non-current assets 4419295305.94 3926823773.78

Total non-current assets 302328169708.06 299543024529.16

Total assets 391005092490.96 377845944183.98

Current liabilities:

Short-term borrowings 48319214551.65 44090969803.23

Central bank loans

Loans from other banks

Held-for-trading financial liabilities 1443458239.45 1269256561.53

Derivative financial liabilities 8644380.00 34655378.23

Notes payable 2862324348.76 3204293497.95

Accounts payable 64731634776.69 59032829819.11

Advances received

Contract liabilities 3721490598.55 5995580462.05

Financial liabilities under repo

72025 First Quarterly Report

Absorbing deposit and interbank deposit

Deposits for agency security transaction

Deposits for agency security underwriting

Employee benefits payable 439095133.00 996809278.49

Taxes and rates payable 2161857162.59 1277862468.64

Other payables 8945736243.78 6588756879.48

Including: Interests payable

Dividends payable

Handling fees and commissions payable

Reinsurance accounts payable

Liabilities held for sale

Non-current liabilities due within one year 44690175516.74 38322495216.94

Other current liabilities 466484395.42 742351889.84

Total current liabilities 177790115346.63 161555861255.49

Non-current liabilities:

Insurance policy reserves

Long-term borrowings 115246951636.60 119518340862.41

Bonds payable

Including: Preferred shares

Perpetual bonds

Lease liabilities 166117902.85 171624458.34

Long-term payables

Long-term employee benefits payable

Provisions

Deferred income 192792497.90 198629966.29

Deferred tax liabilities 1646386901.05 1577357341.78

Other non-current liabilities

Total non-current liabilities 117252248938.40 121465952628.82

Total liabilities 295042364285.03 283021813884.31

Equity:

Share capital 10125525000.00 10125525000.00

Other equity instruments

Including: Preferred shares

82025 First Quarterly Report

Perpetual bonds

Capital reserve 10820015319.70 10819566635.04

Less: treasury shares 6987008823.24 6987008823.24

Other comprehensive income 192521131.63 280892216.98

Special reserve 19070265.41 19057187.43

Surplus reserve 1270743066.03 1270743066.03

General risk reserve

Undistributed profit 28918798355.16 28330397005.41

Total equity attributable to the parent company 44359664314.69 43859172287.65

Minority equity 51603063891.24 50964958012.02

Total equity 95962728205.93 94824130299.67

Total liabilities & equity 391005092490.96 377845944183.98

Legal representative: Li Shuirong Officer in charge of accounting: Wang Yafang Head of accounting firm: Zhang Shaoying

2. Consolidated income statement

Unit: RMB

Items Amount for the current Amount for the previous period period

I. Total operating revenue 74975429161.64 81088312171.89

Including: operating revenue 74975429161.64 81088312171.89

Interest income

Premiums earned

Revenue from handling fees and commissions

II. Total operating cost 74402019860.72 80129366950.93

Including: operating cost 64519073624.35 69689532945.07

Interest expenses

Handling fees and commissions

Surrender value

Net payment of insurance claims

Net provision of insurance policy reserve

Premium bonus expenditures

Reinsurance expenses

Taxes and surcharges 6465002839.83 7108078282.93

Selling expenses 37784384.91 37189397.04

92025 First Quarterly Report

Administrative expenses 199661800.06 206168697.22

R&D expenses 1472788785.89 1193091516.38

Financial expenses 1707708425.68 1895306112.29

Including: interest expenses 1697126918.88 1813336399.31

Interest income 87901390.00 118530661.38

Add: Other income 822689910.27 352421758.54

Investment income (or less: losses) 149413730.60 -29905606.95

Including: Investment income from associates and

joint ventures 98408198.41 68496162.46

Gains from derecognition of financial assets at

amortized cost

Gains on foreign exchange (or less: losses)

Gains on net exposure to hedging risk (or less: losses)

Gains on changes in fair value (or less: losses) -109916661.41 25258522.19

Credit impairment loss 9043116.57 -48263256.65

Assets impairment loss -86497294.03 -981692.18

Gains on asset disposal (or less: losses) 0.00 5704105.35

III. Operating profit (or less: losses) 1358142102.92 1263179051.26

Add: Non-operating revenue 759220.16 7569246.13

Less: Non-operating expenditures 13682819.19 557313.60

IV. Profit before tax (or less: total loss) 1345218503.89 1270190983.79

Less: Income tax expenses 113926687.27 171461784.77

V. Net profit (or less: net loss) 1231291816.62 1098729199.02

(I) Categorized by the continuity of operations

1. Net profit from continuing operations (or less: net loss) 1231291816.62 1098729199.02

2. Net profit from discontinued operations (or less: net loss)

(II) Categorized by the portion of equity ownership

1. Net profit attributable to owners of parent company 588401349.75 552356783.62

2. Net profit attributable to non-controlling shareholders 642890466.87 546372415.40

VI. Other comprehensive income after tax -93912489.85 16749448.69

Items attributable to the owners of the parent company -88371085.35 19630356.85

(I) Not to be reclassified subsequently to profit or loss -590642.24

1. Remeasurements of the net defined benefit plan

2. Items under equity method that will not be reclassified to

102025 First Quarterly Report

profit or loss

3. Changes in fair value of other equity instrument

investments

4. Changes in fair value of own credit risk

5. Others -590642.24

(II) To be reclassified subsequently to profit or loss -88371085.35 20220999.09

1. Items under equity method that may be reclassified to

profit or loss -85835764.45 12582979.88

2. Changes in fair value of other debt investments

3. Profit or loss from reclassification of financial assets into

other comprehensive income

4. Provision for credit impairment of other debt investments

5. Cash flow hedging reserve

6. Translation reserve -2535320.90 7638019.21

7. Others

Items attributable to non-controlling shareholders -5541404.50 -2880908.16

VII. Total comprehensive income 1137379326.77 1115478647.71

Items attributable to the owners of the parent company 500030264.40 571987140.47

Items attributable to non-controlling shareholders 637349062.37 543491507.24

VIII. Earnings per share (EPS)

(I) Basic EPS (yuan per share) 0.06 0.06

(II) Diluted EPS (yuan per share) 0.06 0.06

Legal representative: Li Shuirong Officer in charge of accounting: Wang Yafang Head of accounting firm: Zhang Shaoying

3. Consolidated cash flow statement

Unit: RMB

Items Current period Preceding period cumulative comparative

I. Cash flows from operating activities:

Cash receipts from sale of goods or rendering of services 84657306364.47 88428593585.76

Net increase of client deposit and interbank deposit

Net increase of central bank loans

Net increase of loans from other financial institutions

Cash receipts from original insurance contract premium

Net cash receipts from reinsurance

112025 First Quarterly Report

Net increase of policy-holder deposit and investment

Cash receipts from interest handling fees and commissions

Net increase of loans from others

Net increase of repurchase

Net cash receipts from agency security transaction

Receipts of tax refund 1279835331.52 1958361629.02

Other cash receipts related to operating activities 1456252289.27 1795724448.59

Subtotal of cash inflows from operating activities 87393393985.26 92182679663.37

Cash payments for goods purchased and services received 69267409395.37 79836272551.22

Net increase of loans and advances to clients

Net increase of central bank deposit and interbank deposit

Cash payments for insurance indemnities of original insurance

contracts

Net increase of loans to others

Cash payments for interest handling fees and commissions

Cash payments for policy bonus

Cash paid to and on behalf of employees 1423588401.74 1558998186.28

Cash payments for taxes and rates 7403670111.50 5112583789.96

Other cash payments related to operating activities 1321389727.69 1545554152.05

Subtotal of cash outflows from operating activities 79416057636.30 88053408679.51

Net cash flows from operating activities 7977336348.96 4129270983.86

II. Cash flows from investing activities:

Cash receipts from withdrawal of investments 895723709.01 761449460.70

Cash receipts from investment income 5000000.00 0.00

Net cash receipts from the disposal of fixed assets intangible

assets and other long-term assets 3620231.11 222923497.09

Net cash receipts from the disposal of subsidiaries & other

business units

Other cash receipts related to investing activities 32258640.12 26899512.55

Subtotal of cash inflows from investing activities 936602580.24 1011272470.34

Cash payments for the acquisition of fixed assets intangible

assets and other long-term assets 8674201384.78 9942349586.69

Cash payments for investments 586481324.68 424646154.66

Net increase of pledged borrowings

Net cash payments for the acquisition of subsidiaries & other

122025 First Quarterly Report

business units

Other cash payments related to investing activities 35191149.01 99992166.91

Subtotal of cash outflows from investing activities 9295873858.47 10466987908.26

Net cash flows from investing activities -8359271278.23 -9455715437.92

III. Cash flows from financing activities:

Cash receipts from absorbing investments

Including: Cash received by subsidiaries from non-controlling

shareholders as investments

Cash receipts from borrowings 33368092582.16 36543200351.24

Other cash receipts related to financing activities 9494564451.60 9448341833.32

Subtotal of cash inflows from financing activities 42862657033.76 45991542184.56

Cash payments for the repayment of borrowings 27067552657.74 26952016657.62

Cash payments for distribution of dividends or profits and for

interest expenses 1873280050.02 1969038091.06

Including: Cash paid by subsidiaries to non-controlling

shareholders as dividend or profit

Other cash payments related to financing activities 169977244.70 2717787689.43

Subtotal of cash outflows from financing activities 29110809952.46 31638842438.11

Net cash flows from financing activities 13751847081.30 14352699746.45

IV. Effect of foreign exchange rate changes on cash and cash

equivalents -9486969.00 -95200192.77

V. Net increase in cash and cash equivalents 13360425183.03 8931055099.62

Add: Opening balance of cash and cash equivalents 12943832335.45 11486855097.51

VI. Closing balance of cash and cash equivalents 26304257518.48 20417910197.13

(II) Financial statements related to adjustments to items at the beginning of the year of first-

time implementation of new accounting standards from 2024 onwards

□Applicable □Not applicable

(III) Audit report

Whether the First Quarterly Report has been audited

□Yes □No

The First Quarterly Report of the Company has not been audited.Board of Directors of Rongsheng Petrochemical Co. Ltd.April 29 2025

13