Hainan Jingliang Holdings Co. Ltd. 2025 Annual Report Summary

Stock Code: 000505 200505 Stock Name: JLKG JL-B Announcement No. 2026-005

HAINAN JINGLIANG HOLDINGS CO. LTD.2025 ANNUAL REPORT SUMMARY

Part I Important Notes

This Summary is based on the full Annual Report of Hainan Jingliang Holdings Co. Ltd. (together with its

consolidated subsidiaries the "Company" except where the context otherwise requires). To gain a comprehensive

understanding of the Company's operating results financial position and future development plans investors are

advised to carefully review the full Annual Report on the designated media specified by the China Securities

Regulatory Commission (the "CSRC").This Summary has been prepared in both Chinese and English. Should there be any discrepancies or

misunderstandings between the Chinese and English versions the Chinese version shall prevail.All the Company's directors have attended the board meeting for the review of this report and its summary.Independent auditor's modified opinion

□ Applicable□ Not applicable

Board-approved profit distribution plan or proposal on capitalizing capital reserve into share capital for the

reporting period

□ Applicable□ Not applicable

The Company proposes not to distribute any cash dividends issue any bonus shares or convert any capital

reserve into share capital.Board-approved profit distribution plan for preferred shares for the reporting period

□ Applicable□ Not applicable

Part II Key Corporate Information

1. Company Profile

Stock name JLKG JL-B Stock code 000505 200505

Stock exchange for stock listing Shenzhen Stock Exchange

Contact information Board Secretary Securities Representative

Name Guan Ying Gao Deqiu

8/F Tower B Capital Agricultural Science 8/F Tower B Capital Agricultural Science and

Office address and Innovation Mansion Building No.1 Innovation Mansion Building No.1Community No.8 Xinning Street Daxing Community No.8 Xinning Street Daxing

District Beijing District Beijing

Fax 010-81219987 010-81219987Hainan Jingliang Holdings Co. Ltd. 2025 Annual Report Summary

Tel. 010-81219989 010-81219989

E-mail address guanying@bjjlkg.cn gaodeqiu@bjjlkg.cn

2. Principal Activities or Products in the Reporting Period

(1) Principal business operations

Our Company's principal business operations comprise oil and oilseeds processing and food processing.Oil and oilseeds processing: This primarily involves the refining packaging and marketing of crude oils as well

as the pressing refining packaging and marketing of oilseeds such as sesame soybeans and peanuts.Food Processing: This primarily focuses on R&D production and sales of snack foods and bakery products.

(2) Company's major products

The Company's oils and oilseeds processing business features brands such as "Lv Bao" "Gu Bi" and "HuoNiao"

with principal products including soybean oil corn oil sunflower seed oil peanut oil rapeseed oil flaxseed oil

olive oil sesame oil and sesame paste etc.The Company's food processing business features brands such as "Xiao Wangzi" "Dong Xiaojie" "Jianqiang de

Tudouzai" and "Gu Chuan" offering products like potato chips pastries and bread.

(3) Industry developments and trends

According to the Industry Classification Guidelines for Listed Companies the Company falls under the major

category of Manufacturing - Processing of Farm and Sideline Food Products (Code: C13). Specifically its

primary industry segment is vegetable oil processing with the food processing business also contributing a

significant portion of the gross profit.* Status and Future Trends in the Vegetable Oil Processing Industry

During the reporting period the vegetable oil processing industry maintained stable overall operation. The

industry structure continued to evolve towards greater consolidation environmental sustainability functional

diversification and smart manufacturing. Domestic consumption of edible vegetable oils approached saturation

while international price volatility and evolving environmental policies persistently tested the industry's cost

control and supply chain resilience. Consumer demand accelerated its shift towards healthier and premium

products with high-value-added categories showing significant growth. Industry competition intensified shifting

from pure capacity expansion to a focus on efficiency and quality. Leading enterprises accelerated capacity

consolidation and integrated supply chain layouts enhancing their core competitiveness through technologies like

low-temperature physical refining smart factories full-chain traceability and high-value utilization of by-

products. Looking ahead the industry will continue to focus on securing supply chains adopting green and low-

carbon production driving product differentiation and implementing refined omnichannel operations aiming to

build long-term advantages in raw material security technological advancement brand premium and sustainableHainan Jingliang Holdings Co. Ltd. 2025 Annual Report Summary

development.* Status and Future Trends in the Food Processing Industry

During the reporting period the food processing industry (centered on snack foods) demonstrated characteristics

of steady growth structural optimization channel restructuring and innovation-driven development. The market

size continued to expand accompanied by further upgrades in consumer demand where functional products

became a key growth driver. Deep integration emerged across discount snack channels specialty snack stores

instant retail and live-streaming e-commerce solidifying an integrated online-to-offline channel landscape.Competition increasingly shifted from channel advantages to product strength and supply chain efficiency. Faced

with intensifying homogenized competition rising cost pressures and rapidly changing consumer preferences

companies must prioritize product innovation quality control omnichannel management and brand

differentiation. Investing in R&D flavor innovation packaging upgrades and supply chain digitalization will be

crucial for reducing costs and improving efficiency. In the future the food processing industry will continue

evolving towards health and functionality precise scenario targeting intelligent production and channel

integration. Snack food enterprises must closely follow market dynamics and build competitive advantages

through innovation operational efficiency and brand power to capitalize on consumption upgrading and market

expansion opportunities thereby achieving high-quality development.

(4) Industry position of the Company

The Company owns a number of brands with significant market influence. "Gu Bi" sesame oil has been awarded

honors such as the "National Famous Sesame Oil Brand" the Silver Award at the Beijing International Catering

and Food Expo and the "International Famous Brand Product Gold Award" granting it a competitive edge within

the industry. Both "Lv Bao" and "Gu Bi" are recognized as Beijing Time-honored Brands. The "Xiao Wangzi"

trademark and its products have been consistently certified as Zhejiang Famous Trademarks and Zhejiang

Famous-brand Products for many consecutive years. They hold strong competitiveness in the specific market

segment of individually packaged bulk potato chips and rank among the top in the puffed food industry. Gu

Chuan Bread is one of the major suppliers for KFC in North China maintaining a solid industry position in the

northern bakery market.

3. Key Accounting Data and Financial Indicators

(1) Key accounting data and financial indicators of the past three years

Whether the Company needs to retrospectively adjust or restate the accounting data of previous years:

□ Yes□ No

Reason for retrospective adjustment or restatement:Hainan Jingliang Holdings Co. Ltd. 2025 Annual Report Summary

Correction of accounting errors

Unit: RMB

Change of

31

December

31 December 2024 2025 over 31 December 2023

31 December 31

2025 December

2024(%)

Before After Before

After Adjustment After Adjustment

Adjustment Adjustment Adjustment

Total assets 6118282221.45 6700959305.96 6700959305.96 -8.70% 6496782984.90 6496782984.90

Equity

attributable

to the listed 2863413043.74 3143289575.69 3143289575.69 -8.90% 3167503541.44 3167503541.44

company's

shareholders

2025-over-

202420242023

2025 change (%)

Before After Before

After Adjustment After Adjustment

Adjustment Adjustment Adjustment

Operating

7858535847.1111434843516.2711434843516.27-31.28%11901009211.6311602380127.46

revenue

Net profit

attributable

to

-266087957.9226130520.8626130520.86-1118.30%102348088.85101358157.59

shareholders

of the listed

Company

Net profit

attributable

to

shareholders

of the listed

Company -279148762.48 11095858.98 11095858.98 -2615.79% 82678972.04 81689040.78

excluding

non-

recurring

gains and

losses

Net cash

flows from

646776701.50-109470721.95-109470721.95690.82%109486954.74109486954.74

operating

activities

Basic EPS

-0.370.040.04-1025.00%0.140.14

(RMB/share)

Diluted EPS

-0.370.040.04-1025.00%0.140.14

(RMB/share)

Weighted

average -8.86% 0.83% 0.83% -9.69% 3.29% 3.25%

ROE (%)

Reasons for Accounting Policy Changes and Details of Accounting Error CorrectionsHainan Jingliang Holdings Co. Ltd. 2025 Annual Report Summary

On October 17 2025 the Company held the 23rd meeting of the 10th Board of Directors and the 18th meeting of

the 10th Board of Supervisors at which the Proposal on Correction of Prior Period Accounting Errors was

reviewed and approved. The Company has retrospectively restated the relevant financial statements due to prior-

period accounting errors identified in the semi-annual financial report for 2023 and the annual financial report for

2023. This correction had a continuing impact on the changes in owners' equity for the semi-annual period of

2024 the annual period of 2024 and the semi-annual period of 2025 resulting in an increase of RMB 989931.26

in capital reserve and a corresponding decrease of RMB 989931.26 in retained earnings.

(2) Key accounting data by quarter

Unit: RMB

Q1 Q2 Q3 Q4

Operating revenue 2134668845.32 2073477410.54 2003377195.62 1647012395.63

Net profit attributable to shareholders of

12880761.325069412.79-69451831.59-214586300.44

the listed Company

Net profit attributable to shareholders of

the listed Company excluding non- 13605726.96 3140820.24 -76213401.62 -219681908.06

recurring gains and losses

Net cash flows from operating activities -293409962.28 515846255.35 -73348385.11 497688793.54

Whether there is any material difference between the above financial indicators and their aggregates and the

relevant financial indicators disclosed in the Company's quarterly reports and semi-annual reports

□Yes□ No

4. Share Capital and Shareholder Information

(1) Numbers of ordinary shareholders and preferred shareholders with resumed voting rights as well as

holdings of top 10 shareholders

Unit: share

Number of Number of

Number of

ordinary preferred

preferred

shareholders shareholders with

shareholders

Number of ordinary as of the end restored voting

with restored

shareholders at the end of the 57724 of the month 56364 0 rights at the 0

voting rights

reporting period prior to the month-end prior

at the end of

disclosure to the disclosure

the reporting

date of the date of the annual

period

annual report report

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

Shares in pledge

Type of Shareholding Restricted

Name of shareholder Number of shares held marked or frozen

shareholder percentage shares held

Status Number

BEIJING GRAIN GROUP State-owned Not

39.68%28843956100

CO. LTD. legal person applicable

BEIJING STATE-OWNED State-owned Not

6.67%4851046000

CAPITAL OPERATION AND legal person applicableHainan Jingliang Holdings Co. Ltd. 2025 Annual Report Summary

MANAGEMENT CO. LTD.Domestic

Not

WANG YUECHENG natural 4.74% 34459887 29594915 0

applicable

person

GOLDMAN SACHS & CO. Overseas Not

0.53%385286200

LLC Legal Person applicable

Overseas Not

UBS AG 0.46% 3320887 0 0

Legal Person applicable

MORGAN STANLEY & CO. Overseas Not

0.41%298666700

INTERNATIONAL PLC. Legal Person applicable

Overseas Not

BARCLAYS BANK PLC 0.32% 2352267 0 0

Legal Person applicable

Domestic

Not

ZHANG XIAOXIA natural 0.27% 1949250 0 0

applicable

person

CHINA INTERNATIONAL

State-owned Not

CAPITAL CORPORATION 0.25% 1849800 0 0

legal person applicable

LIMITED

Domestic

Not

HE CAIXIONG natural 0.21% 1526100 0 0

applicable

person

* Beijing State-Owned Capital Operation and Management Company Ltd. owns

an indirect 100% share of Beijing Grain Group Co. Ltd. and Beijing Grain

Group Co. Ltd. is the controlling shareholder of the Company (a 39.68%

Disclosure of affiliations or concerted action holding). * Mr. Wang Yucheng resigned as the deputy general manager of the

among the above shareholders Company on July 26 2024 and 75% of the shares he holds in the Company are

locked up. Except for the shareholder relationships described above the

Company is not aware of any related-party relationships or acting in concert

among the top ten shareholders.Shareholder He Caixiong holds 1526100 shares of the Company through a

Disclosure on shareholders involved in

customer credit transaction guarantee securities account with Guotai Haitong

securities margin trading (if any)

Securities Co. Ltd.Shareholders holding more than 5% the top 10 shareholders and the top 10 unrestricted public shareholders

participated in the securities lending and borrowing business.□Applicable□ Not applicable

The top 10 shareholders and the top 10 unrestricted public shareholders experienced changes from the previous

period due to securities lending and borrowing business.□Applicable□ Not applicable

(2) Total preferred shareholders and shareholdings of Top 10

□Applicable□ Not applicable

No preferred shareholders in the reporting period.

(3) Ownership and control relations between the actual controller and the Company disclosed as box chartHainan Jingliang Holdings Co. Ltd. 2025 Annual Report Summary

5. Bonds Outstanding as of the Date of Annual Report Approval

□ Applicable□ Not applicable

(1) Bond Information

Name of Bond Abbreviation Bond Issue Maturity Bond Balance (in tenof Bonds code Date Date thousands Yuan) Interest

Hainan Jingliang Holdings

Co. Ltd. 2023 public issuance

of corporate bonds for 23Jingliang01 148434

21-22 22 Aug

Aug 2023 2026 30000 2.88%

qualified investors (1st issue)

Payment of interest and redemption of corporate

bonds in the reporting period Interest payments on bonds totaled RMB 8.64 million.

(2) Updated follow-up rating and changes of rating on corporate bonds

Through tracking analysis and assessment of the credit status of the Company and its related bonds China Lianhe

Credit Rating Co. Ltd. has determined to maintain the Company's long-term credit rating at AA+ and maintain

the credit rating of "23 Jingliang 01" at AAA with a stable outlook.

(3) Major accounting data and financial indicators of the Company for the recent two years up to the end

of the reporting period

Unit: RMB 10000

Item 2025 2024 Increase/Decrease in 2025 vs. 2024 (%)

Asset-liability ratio 47.51% 47.61% -0.10%

Net profit attributable to shareholders of the

listed Company excluding non-recurring -31091.02 -1072.27 -2799.55%

gains and losses

EBITDA's total debt ratio -4.56% 8.91% -13.47%

Interest coverage ratio -3.69 0.87 -524.14%

PartⅢ Significant Events

1. Primary reason for the decrease in operating revenue during the reporting period

The Company adjusted the positioning of its trading business and pursued a strategy of volume reductionHainan Jingliang Holdings Co. Ltd. 2025 Annual Report Summary

resulting in a year-on-year decrease in revenue from the oils trading business.

2. Primary reasons for the net loss during the reporting period

(1) Oils Segment: The oils industry heavily relies on imported raw materials the prices of which are susceptible

to policies in the originating countries and exchange rate fluctuations posing challenges for cost control. In 2025

the Company primarily sourced its soybean crushing raw materials from South America. The variable quality of

South American soybeans adversely affected crushing yield energy consumption and processing cycle times

leading to increased production costs. Furthermore prolonged port stays impacted factory operational hours

increasing the fixed cost per tonne for oil processing. Consequently profits decreased compared to the previous

year.

(2) Food Segment: The traditional sales channels for the snack food industry faced significant pressure from the

low-price strategies of snack chain stores and intense competition for customers on online platforms. The market

is experiencing severe channel disruption and heightened competition. While the Company actively integrated its

marketing system deepened cooperation with leading platforms and promoted new product development and

launch the decline in traditional channels outweighed the growth from new channels which fell short of

expectations. This led to a decrease in product sales volume and a reduction in gross profit margin resulting in a

year-on-year decrease in profit.

(3) Other Factors: To fairly present the Company's financial position asset values and operating results in

accordance with the Accounting Standards for Business Enterprises and the Company's accounting policies and

the relevant provisions of the Company's accounting policies the Company conducted a comprehensive review

and analysis of various types of assets as of the end of 2025. Based on the principle of prudence impairment tests

were performed on assets showing indications of potential impairment. Provisions for impairment losses were

recognized based on the outcomes of these tests.Hainan Jingliang Holdings Co. Ltd.

28 March 2026