Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.Stock code: 000058 200058 Stock abbreviation: SHEN SEGA SHEN SEG B Notice No.: 2025-066

Shenzhen SEG Co. Ltd.The Third Quarter Report for 2025

The Company and all members of the Board of Directors guarantee that the information disclosed is true accurate and

complete without any false records misleading statements or material omissions.Important Notice:

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

guarantee that the quarterly report is true accurate and complete without any false records misleading statements or material

omissions and that they assume individual and joint legal liabilities.

2. The Company’s person in charge head of accounting work and head of accounting institution (accounting supervisor)

declare that they guarantee the truthfulness accuracy and completeness of the financial information in the quarterly report.

3. Whether the Third Quarter Report has been audited

□ Yes□No

1Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.

I. Main Financial Data

(I) Main accounting data and financial indicators

Whether the Company needs to perform retrospective adjustment or restatement of the accounting data from previous years

□ Yes□No

Changes over same Beginning of the year Changes over same

Current period

period of previous year to end of current period period of previous year

Operating income (yuan) 465914178.79 5.51% 1217250722.03 -2.12%

Net profit attributable to

shareholders of the listed 45540828.15 455.70% 92886466.82 143.63%

company (yuan)

Net profit attributable to

shareholders of the listed

company after deducting 24108610.13 311.54% 79802815.18 92.93%

non-recurring profit and

loss (yuan)

Net cash flow from

————53645853.11-4.40%

operating activities (yuan)

Basic earnings per share

0.0369454.81%0.0754143.23%

(yuan/share)

Diluted earnings per share

0.0369454.81%0.0754143.23%

(yuan/share)

Weighted average ROE 2.20% 2.81% 4.54% 2.64%

End of current

End of previous year Changes over end of previous year

period

Total assets (yuan) 5045857582.25 5065402435.76 -0.39%

Owner's equity

attributable to

2083133871.442007073603.173.79%

shareholders of the listed

company (yuan)

(II) Non-recurring profits and losses items and amounts

□Applicable □ Not applicable

Unit: RMB/yuan

Amount from beginning

Item Amount of current period of the year to end of Description

current period

Profits or losses from the disposal of non-

current asset (including the write-off that -504607.07 -214952.77

accrued for impairment of assets)

Governmental subsidies included in current

profit and loss (excluding those closely

related to the Company's normal business

operations compliant with national policies 287572.14 814564.99

granted according to predetermined

standards and having a sustained impact on

the Company’s profit or loss)

Profits/losses from entrusting investments or 61981.75 874923.71

2Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.

asset management to others

Trusteeship fee from entrusted operations 605013.36 1062801.50

Other non-operating income and expenses not

listed above 21758357.98 17317352.71

Other profit and loss items that qualify the

definition of non-recurring profit and loss 0.00 -7119011.35

Less: Affected income tax 1700804.46 1075932.03

Affected minority equity (after-tax) -924704.32 -1423904.88

Total 21432218.02 13083651.64 --

Details of other profit and loss items that qualify the definition of non-recurring profit and loss:

□Applicable □ Not applicable

For investment income calculated through the equity method the Company discloses the non-recurring profit and loss of Huakong

SEG Co. Ltd. enjoyed based on shareholding as its non-recurring profit and loss; the relevant amount was RMB -7119011.35.Descriptions where the Company defines any non-recurring profit and loss items listed in the No. 1 Explanatory Announcement on

Information Disclosure of Companies Offering Securities to the Public—Non-recurring Profit and Loss as recurring profit and loss

items during the reporting period

□ Applicable□Not applicable

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

□Applicable □ Not applicable

1. Consolidated balance sheet

Unit: RMB/yuan

Changes

Item Closing balance Opening balance Difference over the Reason for the difference

period

Financial Mainly due to the Company’s

assets held for 70700000.00 43552021.49 27147978.51 62.33% purchase of wealth management

trading products

Mainly due to the maturity

Notes

receivable 8430490.81 14225442.18 -5794951.37 -40.74%

acceptance and endorsement

transfer of the Company's certain

notes

Accounts Mainly due to the derecognition

receivable 5237700.00 8469515.89 -3231815.89 -38.16% of certain bank acceptance notes

financing endorsed or discounted by theCompany

Mainly owning to the

Prepayments 31562833.27 5960495.88 25602337.39 429.53% Company’s advance payment

made to suppliers

Mainly due to the Company's

Other current 152402239.32 78369896.31 74032343.01 94.47% reclassification of certain termassets deposits into this item based on

liquidity

Mainly due to the transfer of

Fixed assets 588073527.64 350583125.99 237490401.65 67.74% certain distributed photovoltaicpower stations to fixed assets

upon completion

Mainly due to the transfer of

Construction

in process 15960382.42 117599812.50 -101639430.08 -86.43%

certain distributed photovoltaic

power stations to fixed assets

upon completion

3Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.

Mainly due to the Company's

Other non- 50105294.00 10105294.00 40000000.00 395.83% reclassification of certain termcurrent assets deposits into this item based on

liquidity

Short-term Mainly due to the increase in the

borrowings 29097001.76 19402430.56 9694571.20 49.97% Company’s credit borrowingsduring the current period

Other current Mainly due to the increase in

liabilities 10801773.35 7717587.18 3084186.17 39.96% deferred input VAT to be writtenoff

Mainly due to the Company's

Long-term reclassification of certain long-

payables 1261525.49 2155162.19 -893636.70 -41.46% term payables into non-currentliabilities due within one year

based on liquidity

Other Mainly due to changes in fair

comprehensive -5796055.42 -4338191.39 -1457864.03 -33.61% value of the Company's

income investments in other equityinstruments

2. Consolidated income statement

Unit: RMB/yuan

Amount of the Changes over

Item Amount of the same period of Difference the same periodcurrent period the previous of the previous Reason for the difference

year year

Mainly due to the year-on-

year decrease in the

Return on Company’s investment

investment ("-" -13080893.66 -8727945.05 -4352948.61 -49.87% income from associates

indicates loss) accounted for under the equity

method during the current

period

Mainly due to the provision

Asset impairment for inventory impairment in

losses ("-" indicates 92794.99 -63011221.10 63104016.09 100.15% the same period of previous

loss) year; there is no suchprovision during the current

period

Mainly due to the Company's

Non-operating confirmation of penalty

income 26193130.67 2548010.76 23645119.91 927.98% income from customers basedon arbitration award during

the current period

3. Consolidated cash flow statement

Unit: RMB/yuan

Changes

over the

Item Amount of the

Amount of the

current period same period of Difference

same period

the previous year of the

Reason for the difference

previous

year

Mainly due to the

Company’s increased

investment in the distributed

Net cash flows power stations construction

from investing -263722292.47 -29172189.38 -234550103.09 -804.02% year-on-year couple with a

activities net decrease in the

redemption and investment

of bank wealth management

products

4Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.

Net cash flows Mainly due to the year-on-

from financing -23541070.70 -330676879.46 307135808.76 92.88% year decrease in the cash

activities paid by the Company forrepayment of borrowings

II. Shareholder Information

(I) Total number of ordinary shareholders number of preferred shareholders whose voting rights were

resumed and shareholdings of top 10 shareholders

Unit: share

Total number of preferred shareholders whose

Total number of ordinary shareholders at

51784 voting rights were resumed at the end of the 0

the end of the reporting period

reporting period (if any)

Shareholdings of top 10 shareholders (excluding shares lent through securities lending)

Number of Pledged tagged or frozen status

Shareho shares

Nature of lding Number of subject to

Name of shareholder

shareholder percenta shares trading Share status Number

ge (%) restriction

s

Shenzhen SEG Group Co. State-owned

56.54% 696163182 0 Not applicable 0

Ltd. legal person

Foreign

LISHERYNZHANMING natural 0.65% 8045415 0 Not applicable 0

person

Domestic

Liu Guocheng natural 0.62% 7675702 0 Not applicable 0

person

Hong Kong Securities Foreign

0.59% 7309108 0 Not applicable 0

Clearing Co. Ltd. legal person

Domestic

Zhang Bin natural 0.33% 4050000 0 Not applicable 0

person

Domestic

Li Bin natural 0.32% 4000000 0 Not applicable 0

person

Domestic

Liu Guohong natural 0.32% 3893846 0 Not applicable 0

person

Domestic

Wu Zuojia natural 0.27% 3349600 0 Not applicable 0

person

Foreign

Gong Qianhua natural 0.24% 2940000 0 Not applicable 0

person

Domestic

Chen Hui natural 0.23% 2828800 0 Not applicable 0

person

Shareholdings of top 10 shareholders (excluding shares lent through securities lending and locked-up shares by senior

management)

Number of non-tradable-restricted Type of shares and amount

Name of shareholder

shares Type Number

RMB-denominated

Shenzhen SEG Group Co. Ltd. 696163182 696163182

ordinary shares

5Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.

Domestic listed

LISHERYNZHANMING 8045415 8045415

foreign shares

Domestic listed

Liu Guocheng 7675702 7675702

foreign shares

RMB-denominated

Hong Kong Securities Clearing Co. Ltd. 7309108 7309108

ordinary shares

RMB-denominated

Zhang Bin 4050000 4050000

ordinary shares

RMB-denominated

Li Bin 4000000 4000000

ordinary shares

Domestic listed

Liu Guohong 3893846 3893846

foreign shares

RMB-denominated

Wu Zuojia 3349600 3349600

ordinary shares

Domestic listed

Gong Qianhua 2940000 2940000

foreign shares

RMB-denominated

Chen Hui 2828800 2828800

ordinary shares

There exists no connected relationships between SEG Group and other

Description on the connected relationships or persons shareholders nor do they constitute acting-in-concert parties as

acting-in-concert arrangements among the above stipulated in the Administrative Measures on Acquisition of Listed

shareholders Companies. It is unknown to the Company whether other shareholders

are connected parties or acting-in-concert persons.Zhang Bin a domestic natural person holds 4050000 shares of the

Description on the top 10 shareholders’ participation in Company all of which are held through the credit account of margin

margin lending and securities borrowing business (if trading and securities lending investors; Wu Zuojia a domestic naturalperson holds 3349600 shares of the company of which 1000000

any) shares are held through the credit account of margin trading and

securities lending investors.Participation of margin securities loan by shareholders holding more than 5% of total shares top 10 shareholders and top 10

shareholders with non-tradable-restricted shares

□ Applicable□Not applicable

Changes in shareholding of top 10 shareholders and top 10 shareholders with non-tradable-restricted shares compared to the

previous period due to the securities lending or return of shares lent through margin securities loan

□ Applicable□Not applicable

(II) Total number of preferred shareholders and shareholdings of top 10 preferred shareholders

□Applicable□Not applicable

III. Other Significant Events

□Applicable □ Not applicable

Overview Date of disclosure Query index on interim report disclosure website

July 05 2025 The Notice on the Progress of Litigations Involving the Holding Second-tierSubsidiary released on CNINFO (http://www.cninfo.com.cn/)

1. Litigations involving holding

second-tier subsidiary

July 22 2025 The Notice on the Progress of Litigations Involving the Holding Second-tierSubsidiary released on CNINFO (http://www.cninfo.com.cn/)

6Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.

September 16 2025 The Notice on the Progress of Litigations Involving the Holding Second-tierSubsidiary released on CNINFO (http://www.cninfo.com.cn/)

July 25 2025 The Notice on the Performance of Guarantee Responsibilities by Holding Subsidiaryreleased on CNINFO (http://www.cninfo.com.cn/)

2. Guarantees involving holding

subsidiary

September 24 2025 The Notice on the Performance of Guarantee Responsibilities by Holding Subsidiaryreleased on CNINFO (http://www.cninfo.com.cn/)

3. Performance commitment ofJuly 31 2025 The Notice on the Progress of Arbitrations Involving Subsidiary released on CNINFOShanghai Maqu Lab (http://www.cninfo.com.cn/)

4. Performance of lease contract The Notice on the Progress of Arbitrations Involving Subsidiary released on CNINFO

by subsidiary August 19 2025 (http://www.cninfo.com.cn/)

The Notice on the Resolutions of the 59th Interim Meeting of the 8th Board of

August 19 2025 Directors Notice on the Change of Directors Notice on the Change of Supervisorsand Notice on Convening the 2025 Second Extraordinary General Meeting of the

Company released on CNINFO (http://www.cninfo.com.cn/)

September 05 2025 The Notice on the Resolutions of the 2025 Second Extraordinary General Meeting ofShenzhen SEG Co. Ltd. released on CNINFO (http://www.cninfo.com.cn/)

5. Changes in directors

supervisors and senior The Notice on the Resolutions of the 60th Interim Meeting of the 8th Board of

management members of the

September 05 2025 Directors Notice on the By-Election of Independent Directors of the Company andCompany Notice on Convening the 2025 Third Extraordinary General Meeting of the Company

released on CNINFO (http://www.cninfo.com.cn/)

September 23 2025 The Notice on the Resolutions of the 2025 Third Extraordinary General Meeting ofShenzhen SEG Co. Ltd. released on CNINFO (http://www.cninfo.com.cn/)

The Notice on the Resolutions of the 62nd Interim Meeting of the 8th Board of

September 23 2025 Directors and Notice on the Change of Senior Executives released on CNINFO

(http://www.cninfo.com.cn/)

The Notice on the Resolutions of the 60th Interim Meeting of the 8th Board of

September 05 2025 Directors Notice on the Engagement of the Auditing Agency in 2025 and Notice onConvening the 2025 Third Extraordinary General Meeting of the Company released

6. Engagement of the auditing on CNINFO (http://www.cninfo.com.cn/)

agency in 2025

September 23 2025 The Notice on the Resolutions of the 2025 Third Extraordinary General Meeting ofShenzhen SEG Co. Ltd. released on CNINFO (http://www.cninfo.com.cn/)

The Notice on the Resolutions of the 61th Interim Meeting of the 8th Board of

September 11 2025 Directors Notice on the Plan to Sell Stock Assets and Notice on Convening the 2025Fourth Extraordinary General Meeting of the Company released on CNINFO

7. Sale of stock assets (http://www.cninfo.com.cn/)

September 30 2025 The Notice on the Resolutions of the 2025 Fourth Extraordinary General Meeting ofShenzhen SEG Co. Ltd. released on CNINFO (http://www.cninfo.com.cn/)

8. Cancellation of wholly-owned The Notice on the Resolutions of the 62nd Interim Meeting of the 8th Board of

subsidiary September 23 2025 Directors and Notice on the Cancellation of Wholly-owned Subsidiary released onCNINFO (http://www.cninfo.com.cn/)

9. Matters concerningSeptember 30 2025 The Notice on the Progress of Not-to-Compete Commitments by Indirect Controllingcompeting businesses Shareholder released on CNINFO (http://www.cninfo.com.cn/)

7Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.

IV. Quarterly Financial Statements

(I) Financial statements

1. Consolidated balance sheet

Prepared by: Shenzhen SEG Co. Ltd.September 30 2025

Unit: RMB/yuan

Item Closing balance Opening balance

Current assets:

Monetary funds 796164222.58 1013767043.88

Settlement reserve

Lending funds

Financial assets held for trading 70700000.00 43552021.49

Derivative financial assets

Notes receivable 8430490.81 14225442.18

Accounts receivable 334088341.70 281974498.93

Accounts receivable financing 5237700.00 8469515.89

Prepayments 31562833.27 5960495.88

Premiums receivable

Reinsurance premiums receivable

Reinsurance contract reserves

receivable

Other receivables 51520936.49 54989728.34

Including: Interests receivable

Dividends receivable

Financial assets purchased under

agreements to resell

Inventory 1448967524.42 1522788361.58

Including: Data resources

Contract assets 6774969.20 7518426.99

Assets held for sale

Non-current assets due within one year

Other current assets 152402239.32 78369896.31

Total current assets 2905849257.79 3031615431.47

Non-current assets:

Loans and advances

Debt investments

Other debt investments

Long-term receivables 4193506.41 3997523.71

Long-term equity investments 258432387.77 272998005.36

Investment in other equity instruments 26276742.65 28256608.47

Other non-current financial assets

Investment properties 832802132.21 870476018.35

Fixed assets 588073527.64 350583125.99

Construction in progress 15960382.42 117599812.50

Productive biological assets

Oil & gas assets

Right-of-use assets 163694797.51 178294421.94

Intangible assets 18303770.11 19193980.87

Including: Data resources

Development expenses

Including: Data resources

8Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.

Goodwill 60371913.01 60371913.01

Long-term deferred expenses 32149018.49 32991691.32

Deferred tax assets 89644852.24 88918608.77

Other non-current assets 50105294.00 10105294.00

Total non-current assets 2140008324.46 2033787004.29

Total assets 5045857582.25 5065402435.76

Current liabilities:

Short-term loans 29097001.76 19402430.56

Borrowings from the Central Bank

Placements from banks and other

financial institutions

Financial liabilities held for trading

Derivative financial liabilities

Notes payable

Accounts payable 424025712.64 415438809.41

Prepayments 133928381.68 153925232.13

Contract liabilities 24170923.78 22689001.74

Financial assets sold under agreements

to repurchase

Deposits from customers and

interbank

Funds from securities trading agency

Funds from securities underwriting

agency

Employee benefits payable 95214118.74 119178581.26

Taxes payable 168280751.38 173731431.35

Other payables 793341630.73 892615970.03

Including: Interests payable

Dividends payable 22520346.43 31116194.15

Service charges and commissions

payable

Reinsurance premiums payable

Liabilities held for sale

Non-current liabilities due within one

year 103218912.25 107704395.40

Other current liabilities 10801773.35 7717587.18

Total current liabilities 1782079206.31 1912403439.06

Non-current liabilities:

Insurance contract reserves

Long-term loans 583295756.72 513608232.78

Bonds payable

Including: Preference shares

Perpetual bonds

Lease liabilities 153564542.23 153804099.01

Long-term payables 1261525.49 2155162.19

Long-term employee benefits payable

Provision

Deferred income 466312.38 506864.02

Deferred tax liabilities 9160716.58 9700211.22

Other non-current liabilities

Total non-current liabilities 747748853.40 679774569.22

Total liabilities 2529828059.71 2592178008.28

Owner's equity:

Share capital 1231200672.00 1231200672.00

Other equity instruments

Including: Preference shares

Perpetual bonds

Capital reserve 165950347.39 165950347.39

9Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.

Less: Treasury shares

Other comprehensive income -5796055.42 -4338191.39

Special reserves

Surplus reserves 204739896.23 204739896.23

General risk reserves

Retained earnings 487039011.24 409520878.94

Total equity attributable to owners of the

parent company 2083133871.44 2007073603.17

Equities of minority shareholders 432895651.10 466150824.31

Total owner's equity 2516029522.54 2473224427.48

Total liabilities and owners’ equity 5045857582.25 5065402435.76

Legal representative: Liu Qing Head of accounting work: Feng Yan Head of accounting institution: Xu Zhongyang

2. Consolidated income statement from beginning of the year to end of reporting period

Unit: RMB/yuan

Item Amount incurred in the current period Amount incurred in the prior period

I. Total Operating Income 1217250722.03 1243637571.71

Including: Operating income 1217250722.03 1243637571.71

Interest income

Insurance premiums earned

Service charge and

commission income

II. Total Operating Cost 1062790623.20 1064996098.80

Including: Operating cost 919697159.90 932432209.66

Interest expense

Service charge and

commission expense

Surrender value

Net benefit payments

Net insurance liability reserves

Policy dividends

Reinsurance expenses

Taxes and surcharges 24391224.68 21282315.47

Selling expenses 13318940.87 16137455.29

Administrative expenses 71604925.88 64699911.77

R&D expenses 8720388.23 8866770.04

Finance expenses 25057983.64 21577436.57

Including: Interest fees 23037044.88 23790126.57

Interest income 4762593.05 9713292.50

Plus: Other income 1839097.61 2065640.06

Return on investment ("-"

indicates loss) -13080893.66 -8727945.05

Including: Return on

investment in associates and joint -14465617.59 -10419638.84

ventures

Income from the

derecognition of financial assets

measured at amortized cost

Exchange gains ("-" indicates

loss)

Gains from net exposure hedging

("-" indicates loss)

10Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.

Gains from changes in fair value

("-" indicates loss)

Credit impairment losses ("-"

indicates loss) -1590246.59 -1412504.51

Asset impairment losses ("-"

indicates loss) 92794.99 -63011221.10

Gains from disposal of assets ("-"

indicates loss)

III. Operating Profit ("-" indicates loss) 141720851.18 107555442.31

Plus: Non-operating income 26193130.67 2548010.76

Less: Non-operating expenses 9094548.02 9752732.90

IV. Total Profit ("-" indicates total loss) 158819433.83 100350720.17

Less: Income tax expense 56156061.82 52893630.27

V. Net Profit ("-" indicates net loss) 102663372.01 47457089.90

i. Classified by business continuity

1. Net profit from continued

business operation ("-" indicates net loss) 102663372.01 47457089.90

2. Net profit from discontinued

business operation ("-" indicates net loss)

ii. Classified by attribution of

ownership

1. Net profit attributable to

shareholders of the parent company ("-" 92886466.82 38126457.05

indicates net loss)

2. Minority shareholders' profits and

losses ("-" indicates net loss) 9776905.19 9330632.85

VI. Net Amount of Other Comprehensive

Income after Tax -1493911.14 -321326.52

Total other comprehensive after-tax

net income attributable to owners of the -1457864.03 -311288.09

parent company

i. Other comprehensive income that

will not be reclassified into profit or loss -1457864.03 -311288.09

1. Changes of remeasurement of

defined benefit plan

2. Other comprehensive income

that cannot be reclassified into profit or

loss under equity method

3. Changes in fair value of other

equity instrument investments -1457864.03 -311288.09

4. Changes in fair value of credit

risk of the enterprise

5. Others

ii. Other comprehensive income

reclassified into profit or loss

1. Other comprehensive income

that will be reclassified into profit or loss

under equity method

2. Changes in fair value of other

debt investments

3. Financial assets reclassified

into other comprehensive income

4. Credit impairment allowance

for other debt investments

5. Reserve of cash flow hedge

6. Converted difference in foreign

currency financial statements

7. Others

Total other comprehensive after-tax

net income attributable to minority -36047.11 -10038.43

shareholders

VII. Total Comprehensive Income 101169460.87 47135763.38

(I) Total comprehensive income

attributable to owners of the parent 91428602.79 37815168.96

11Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.

company

(II) Total comprehensive income

attributable to minority shareholders 9740858.08 9320594.42

VIII. Earnings per Share:

i. Basic earnings per share 0.0754 0.031

ii. Diluted earnings per share 0.0754 0.031

For business combinations of the current period under common control the net profit realized by the combined party before the

combination was RMB0.00; the net profit realized by the combined party in last period was RMB0.00.Legal representative: Liu Qing Head of accounting work: Feng Yan Head of accounting institution: Xu Zhongyang

3. Consolidated cash flow statement from beginning of the year to end of reporting period

Unit: RMB/yuan

Item Amount incurred in the current period Amount incurred in the prior period

I. Cash Flows from Operating Activities:

Cash received from sale of goods or

rendering of services 1150770555.73 1259562650.27

Net increase in deposits from

customers banks and non-bank financial

institutions

Net increase in borrowings from the

Central Bank

Net increase in placements from other

financial institutions

Cash received from premiums of

direct insurance contracts

Net cash from reinsurance business

Net increase in policyholder deposits

and investment funds

Cash received from interests service

charges and commissions

Net increase in placements from banks

and other financial institutions

Net increase in repo service fund

Net cash from agent securities trading

Tax rebates 3692386.82 419112.13

Cash received related to other

operating activities 179849261.25 165613301.18

Subtotal of cash inflow from operating

activities 1334312203.80 1425595063.58

Cash paid for goods purchased and

services rendered 389968259.01 477070457.45

Net loans and advances to customers

Net increase in deposits with the

Central Bank banks and non-bank

financial institutions

Cash paid for claims of direct

insurance contracts

Net increase in placements with banks

and non-bank financial institutions

Cash paid for interests fees and

commissions

Cash paid for policy dividends

Cash paid to and on behalf of

employees 468241154.37 496501038.88

Tax payments 139070404.38 139761459.46

Cash paid related to other operating

activities 283386532.93 256146882.11

12Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.

Subtotal of cash outflow from operating

activities 1280666350.69 1369479837.90

Net cash flows from operating activities 53645853.11 56115225.68

II. Cash Flows from Investing Activities:

Cash received from recovery of

investment 108379433.73 325700852.31

Cash received from return on

investments 1588317.29 5939495.57

Net cash received from the disposal of

fixed assets intangible assets and other 7743.90 3138.00

long-lived assets

Net cash received from the disposal of

subsidiaries and other business entities

Cash received related to other

investing activities

Subtotal of cash inflow from investing

activities 109975494.92 331643485.88

Cash paid for the acquisition and

construction of fixed assets intangible 188197787.39 83315675.26

assets and other long-lived assets

Cash paid for investments 185500000.00 277500000.00

Net increase in pledged loans

Net cash paid for acquisition of

subsidiaries and other business entities

Cash paid related to other investing

activities

Subtotal of cash outflow from investing

activities 373697787.39 360815675.26

Net cash flows from investing activities -263722292.47 -29172189.38

III. Cash Flows from Financing

Activities:

Cash received from capital

contribution

Including: Proceeds received by

subsidiaries from minority shareholders'

investment

Cash received from borrowings 137712370.93 49439380.66

Cash received related to other

financing activities

Subtotal of cash inflow from financing

activities 137712370.93 49439380.66

Cash paid for repayments of

borrowings 47773443.42 262115114.38

Cash paid for interest expenses and

distribution of dividends or profits 80771893.24 90620849.07

Including: Dividend and profit paid

by subsidiaries to minority shareholders 50354125.62 33929179.86

Cash paid related to other financing

activities 32708104.97 27380296.67

Subtotal of cash outflow from financing

activities 161253441.63 380116260.12

Net cash flows from financing activities -23541070.70 -330676879.46

IV. Effect of Foreign Exchange Rate

Changes on Cash and Cash Equivalents

V. Net Increase in Cash and Cash

Equivalents -233617510.06 -303733843.16

Plus: Opening balance of cash and

cash equivalents 1003980642.55 1159389480.62

VI. Closing Balance of Cash and Cash

Equivalents 770363132.49 855655637.46

(II) Description on the adjustment of relevant items in the financial statements at the

13Third Quarter Report for 2025 of Shenzhen SEG Co. Ltd.

beginning of the year for the first time adoption of the new accounting standards since

2025

□Applicable□Not applicable

(III) Report auditing

Whether the Third Quarter Report has been audited

□ Yes□No

The Third Quarter Report of the Company has not been audited.Board of Directors of Shenzhen SEG Co. Ltd.October 30 2025

14