安道麦B:2026年三季度报告（英文版）

Stock Code: 000553(200553) Stock Abbreviation: ADAMA A(B) Announcement No.40

The Company and all members of its board of directors hereby confirm that all

information disclosed herein is true accurate and complete with no false or misleading

statement or material omission.ADAMA LTD.THIRD QUARTER REPORT 2026

Please see important additional information and further details included in the Annex.October 2026

Important Notice

The Company’s Board of Directors directors and senior managers confirm that the

content of the Report is true accurate and complete and contains no false statements

misleading presentations or material omissions and assume joint and several legal

liability arising therefrom.Gal Hili the person leading the Company (President and Chief Executive Officer as

well as its legal representative and Samuel Asher Leibowitz the person leading the

accounting function (Chief Financial Officer) hereby assert and confirm the

truthfulness accuracy and completeness of the Financial Report.The Third Quarter Report has not been audited.Items of qualified opinion by the auditor

□Applicable √Not applicable

This Report has been prepared in both Chinese and English. Should there be any

discrepancy between the two versions the Chinese version shall prevail.I. Main accounting and financial results

1. Whether the Company performs any retroactive adjustments to or restatements of its accounting data

of last year due to change in accounting policies or correction of accounting errors

□ Yes √ No

July - September January -

+/- (%) +/- (%)

2026 September 2026

Operating revenues (RMB’000) 6087025 -8.52% 20563565 -5.14%

Net loss attributable to shareholders of the Company

(777419) -127.01% (344852) 18.44%

(RMB’000)

Net loss attributable to shareholders of the Company

(828774) -122.49% (748137) -43.25%

excluding non-recurring profit and loss (RMB’000)

Net cash flow from operating activities (RMB’000) 635343 0.01% 1305252 -45.02%

Basic EPS (RMB/share) (0.3337) -127.00% (0.1480) 18.46%

Diluted EPS (RMB/share) NA NA NA NA

Weighted average return on net assets (4.53%) -2.71% (2.01%) 0.25%

End of Reporting End of last

+/- (%)

Period year

Total assets (RMB’000) 44792845 48463962 -7.57%

Net assets attributable to shareholders (RMB’000) 16719285 17575426 -4.87%

2. Non-Recurring profit/loss

√ Applicable □ Not applicable

Unit: RMB’000

July - January -

Item September September Note

2026 2026

Gains from disposal of fixed

Gains/losses on the disposal of non-current assets assets including a logistic

24500 330850

(including the offset part of asset impairment provisions) center in Israel in H1 and old

dismantled facilities in China

Government grants recognized through profit or loss

(excluding government grants closely related to

business of the Company and given at a fixed quota or 32 3972 -

amount in accordance with government’s uniform

standards)

Custodian fees earned from entrusted operation 1051 2797 -

Recovery or reversal of provision for bad debts which is

14379 42206 -

assessed individually during the years

Other non-operating income and expenses other than

939 6471 -

the above

Mainly compensation received

related to limited and localized

damage to one of the

Other profit or loss that meets the definition of non- Company’s Israeli manufacturing

15477 32579

recurring profit or loss sites caused by falling debris

following missile interceptions

and compensation related to

product liabilities

Less: Income tax effects 5023 15590 -

Total 51355 403285 -

Explanation of other profit or loss that meets the definition of non-recurring profit or loss

√ Applicable □ Not applicable

Mainly compensation received related to limited and localized damage caused by falling debris following

missile interceptions at one of the Company’s Israeli manufacturing sites and compensation related to

product liabilities as explained above in the note.Explanation of non-recurring items of profit or loss listed in "Explanatory Announcement No. 1 on

Information Disclosure for Companies Offering their Securities to the Public-Non-Recurring Profit and

Loss" reclassified as recurring items of profit or loss.□ Applicable √ Not applicable

No such cases in the Reporting Period.

3. Changes in main accounting statement items and financial indicators in the Reporting Period as well

as reasons for the changes

√ Applicable □ Not applicable

General Crop Protection (CP) Market Environment1

During the first nine months of 2026 crop protection market volumes saw weaker than anticipated growth

due to elevated farmer costs and just-in-time purchasing patterns despite low channel inventories

supporting healthy underlying crop protection demand. Additionally crop protection pricing particularly in

the off-patent market continued to remain under pressure mainly due to lower farmer profitability as well

as persistently low active ingredient prices resulting from structural production overcapacity in China.Overall market conditions varied across regions and crops while farmer margins remained under pressure

in many markets due to higher borrowing costs as well as higher fertilizer and fuel costs.Geopolitical tensions and weather-related disruption continued to create uncertainty along the entire value

chain from crop production input costs and grower profitability.Geopolitical Situation

ADAMA is a global company with manufacturing and formulation facilities in several locations around

the world principally in Israel China and Brazil. It is headquartered and has three manufacturing sites

in Israel. Despite regional tensions that have escalated on February 28 2026 the Company’s Israeli

production sites and supply chain including ports continued to operate without significant delays

allowing the Company to support its markets and ongoing activities.During March and early April 2026 the Company's Neot Hovav site suffered limited and localized damage

caused by falling debris following missile interceptions in the southern region of Israel. No bodily injuries

were reported and an immediate safety-driven closure of the facilities was carried out followed by a

phased shutdown also for safety reasons. The Company initiated comprehensive damage assessments.

1 Sources: AgbioInvestor The CP Industry report - Market review: 2025. June 2026 internal sources.

The direct damage to its core production facilities was not meaningful and was primarily limited to a

finished goods warehouse certain ancillary equipment and systems and an open storage area.Thereafter the Company undertook certain restoration activities and as of the date of this release Neot

Hovav site has returned to normal operational status. The Company expects the overall impact of these

occurrences to be non-material also due to appropriate compensation from governmental authorities.Additionally in respect to changes in global tariff policies despite the uncertainty regarding changes to

trade and tariff policies around the world the Company currently expects that the impact on its operations

and business results will continue to be immaterial.January - January -

Same period

September Same period September

+/-% last year +/-%

2026 last year (000’RMB) 2026

(000’USD)

(000’RMB) (000’USD)

Operating income

20563565 21678425 -5.14% 2997084 3024742 -0.91%

(Revenues)

Cost of goods sold 15229293 16004956 -4.85% 2220067 2233171 -0.59%

Sales & Marketing

2901505 2950375 -1.66% 422878 411737 2.71%

expenses

General & Administrative

912333 1089510 -16.26% 133068 152041 -12.48%

expenses

R&D expenses 286881 307417 -6.68% 41790 42890 -2.56%

Financial Expenses 1186445 1544466 -23.18% 172881 215373 -19.73%

Gain (Loss) from

(15125) 4781 -416.36% (2490) 574 -533.80%

Changes in Fair Value

Total Net Financial

1201570 1539685 -21.96% 175371 214799 -18.36%

Expenses

Total loss (66250) (417446) 84.13% (11160) (58307) 80.86%

Income tax expenses 278602 5360 5 097.80% 41483 801 5 078.90%

Net loss attributable to

shareholders of the (344852) (422806) 18.44% (52643) (59108) 10.94%

Company

EBITDA 2866402 2706104 5.92% 416945 377526 10.44%

Q3 2026 Q3 2025 Q3 2026 Q3 2025

+/-% +/-%

(000’RMB) (000’RMB) (000’USD) (000’USD)

Operating income

6087025 6654225 -8.52% 897492 933411 -3.85%

(Revenues)

Cost of goods sold 4705963 4974783 -5.40% 693866 697816 -0.57%

Sales & Marketing

863442 974707 -11.42% 127308 136724 -6.89%

expenses

General & Administrative

310294 354643 -12.51% 45750 49739 -8.02%

expenses

Q3 2026 Q3 2025 Q3 2026 Q3 2025

+/-% +/-%

(000’RMB) (000’RMB) (000’USD) (000’USD)

R&D expenses 75531 90624 -16.65% 11136 12713 -12.40%

Financial Expenses 162739 520126 -68.71% 24006 72943 -67.09%

Gain (Loss) from

(228576) 11274 -2127.46% (33702) 1581 - 2231.69%

Changes in Fair Value

Total Net Financial

391315 508852 -23.10% 57708 71362 -19.13%

Expenses

Total loss (458635) (291867) -57.14% (67632) (40903) -65.35%

Income tax expenses 318784 50587 530.17% 47002 7096 562.37%

Net loss attributable to

shareholders of the (777419) (342454) -127.01% (114634) (47999) -138.83%

Company

EBITDA 589742 741865 -20.51% 86956 104087 -16.46%

Note: Since the functional currency of main overseas subsidiaries is the USD and the Company’s management review of

the Company’s performance is based on the USD results following explanations and analysis are based on USD-

denominated numbers as listed above.Analysis of Financial Highlights

(1) Revenues

Revenues in the third quarter decreased by approximately 4% (-9% in RMB; -6% in CER) to $897

million compared to last year reflecting a decline of 4% in volumes and 2% in prices partially

compensated by positive impact of foreign exchange rates.The lower volumes resulted from lower market demand in certain regions due to higher farmer

costs and weather conditions partially compensated by new product introductions. Lower prices

reflected the overall lower market pricing and weaker farmer purchasing power.These results brought the revenues in the first nine months of 2026 to $2997 million 1% lower

than last year (-5% in RMB terms; -4% in CER terms) reflecting a decrease of 3% in prices and 1%

in volumes partially moderated positive impact of foreign exchange rates.Excluding the Company's decision in Q3 2025 to reduce the manufacture and sale of certain basic

chemicals sales would have increased in the first nine months period by 1% in comparison to the

corresponding period in 2025. Third quarter sales are on a comparable basis.Regional Sales Performance

Q3 2026 Q3 2025 Change 9M 2026 9M 2025 Change

$m $m USD $m $m USD

Europe Africa & Middle East (EAME) 203 233 -13% 933 903 3%

North America 174 164 6% 692 659 5%

Q3 2026 Q3 2025 Change 9M 2026 9M 2025 Change

$m $m USD $m $m USD

Latin America 286 312 -8% 639 675 -5%

Asia Pacific 235 225 4% 732 789 -7%

Of which China 99 91 9% 337 400 -16%

Total 897 933 -4% 2997 3025 -1%

Note: the numbers in this table may not sum due to rounding.Europe Africa & Middle East (EAME): Sales declined in the third quarter reflecting significantly weaker

market consumption and lower crop-protection applications across several European markets due to

weather impacts creating channel inventory build-up and due to elevated farmer input costs. Market-

share gains partly mitigated the decline while competitive and pricing pressure remained high

concentrated in specific off-patent active ingredients.North America: Sales increased supported by growth across Professional Solutions Consumer and

Canada. US Ag was impacted by lower market prices mainly in commodity categories while continuing

to present growth in key products and customer segments. Pricing pressure and elevated inventories

affected several US agricultural products.Latin America: In Brazil sales declined despite intensified commercial execution ahead of the soybean

season particularly across fungicides and insecticides. This was offset by continued pricing pressure

farmer liquidity constraints and intense competition particularly in commodity products. In the rest of

LATAM sales increased supported by higher volumes particularly in Argentina following disciplined

implementation of its strategic growth priorities across the region despite continued competitive and

pricing pressure and El-Nio impact in certain countries.Asia-Pacific: Sales increased supported by growth in Pacific and India more than offsetting a decline in

other South-East Asia sales. Pacific benefited from fungicide demand in Southern and Western Australia

supported by new product introductions. South-East Asia sales were impacted by El-Nio impact on

demand.In China sales reflected the Company’s decision to reduce manufacturing and sale of certain basic

chemicals since Q3 2025 and low-margin products leading to a decline in sales in the nine-month period

while in the third quarter sales were on a comparable basis and increased reflecting higher sales of brand

formulations driven by new product launches and higher non-ag sales following better utilization rates.

(2) Cost of Goods and Gross Profit

The decline in gross profit in the third quarter and first nine months was mainly due to the decline

in sales and negative cost impact. The impacts were slightly moderated by the improvement in the

Company’s sales mix of higher margin products positive impact of exchange rates.

(3) Operating Expenses:

Operating expenses include Sales and Marketing General and Administration and R&D.Operating expenses in the third quarter and first nine months decreased despite the negative

impact of exchange rates following tight expense discipline and due to less restructuring and

advisory costs. In the nine months the positive impacts were partially offset by an increase in

employee compensation and an increase in H1 in expenses supporting business growth.In the third quarter and first nine months of both 2025 and 2026 the Company continued recording

following charges in its sales and marketing expenses at a similar amount which incurred due to

mergers and acquisitions in recent years mainly: (i) non-cash amortization charges in respect of

transfer assets received from Syngenta related to the 2017 ChemChina-Syngenta acquisition; and

(ii) non-cash amortization net charges related to intangible assets created as part of the Purchase

Price Allocation (PPA) on acquisitions.Non-operational charges affected the Company’s reported operating expenses amounting to RMB

101 million ($15 million) in Q3 2026 in comparison to RMB 176 million ($25 million) in Q3 2025

and RMB 267 million ($39 million) in 9M 2026 in comparison to RMB 519 million ($73 million) in

9M 2025. For details of the non-operational charges please refer to the Annex to the Report.

(4) Financial Expenses

“Financial Expenses” alone mainly reflect interest payments on corporate bonds and bank loans

as well as foreign exchange gains/losses on the bonds and other monetary assets and liabilities

before the Company carries out any hedging. Financial Expenses (before hedging) were RMB

1186 million ($173 million) for the nine months of 2026 in comparison to RMB 1544 million ($215

million) for the nine months of 2025.Given the global nature of its operational activities and the composition of its assets and liabilities

the Company in the ordinary course of its business uses foreign currency derivatives (forwards

and options) to hedge the cash flow risks associated with existing monetary assets and liabilities

that may be affected by exchange rate fluctuations. “Gains/Losses from Changes in Fair Value”

which recorded the hedging costs and impacts among others amounted to a loss of RMB 15 million

($2 million) for the nine months of 2026 in comparison to a net gain of RMB 5 million ($0.6 million)

in the first nine months of 2025.The aggregate of Financial Expenses and Gains/Losses from Changes in Fair Value (hereinafter

as “Total Net Financial Expenses”) which more comprehensively reflects the financial expenses of

the Company in supporting its main business and protecting its monetary assets/liabilities amounts

to RMB 1202 million ($175 million) in the nine months of 2026 in comparison to RMB 1540 million

($215 million) in the nine months of 2025.The lower Total Net Financial Expenses in the first nine months reflected the better debt structure

following the buyback of bonds in Q2 2025 positive impact of the Israeli CPI the benefit of the

continued positive cash flow and lower hedging costs. The Total Net Financial Expenses were

higher in 2025 also because an expense was recorded in the bond buyback.

(5) Income Tax Expenses

The Company recorded higher tax expense in the first nine months of 2026 comparing to 2025

mainly due to lower tax income compared to last year recognized according to the accounting

method of calculation of tax assets related to unrealized profits and due to lower tax income

compared to last year from foreign exchange impact of the stronger BRL. In addition during the

third quarter of 2026 the Company adjusted the tax asset in Brazil according to the projected

statutory profit before tax.Changes in main assets and liabilities

Unit: RMB’000

End of

End of last

Assets and liabilities Reporting +/- (%) Explanation

year

Period

Cash at bank and on

2443585 3450300 -29.18% Mainly due to repayment of loans

hand

Derivative financial Change due to realization and revaluation of

130035 449379 -71.06%

assets derivatives

Mainly decrease in receivables in respect of

Other receivables 774896 1076164 -27.99%

securitization transaction

Mainly increase in liabilities in respect of

Other payables 1924637 1418093 35.72%

securitization transaction

Long-term loans 1077409 1507514 -28.53% Mainly due to repayment of loans

II. Use of Raised Funds

□ Applicable √ Not applicable

No such cases in the Reporting Period.III. Information regarding the Shareholders

1. Total number of ordinary shareholders and preference shareholders who had resumed their

voting rights and shareholdings of top 10 shareholders at the period-end

Unit: share

38882 (the number of ordinary A Total Number of Preference

Total Number of Common

share shareholders is 27847; the Shareholders with Vote Right

Shareholders as of the End of the 0

number of B share shareholders is Restored (if any) as of the End

Reporting Period

11035) of the Reporting Period

Shareholding of Top 10 Shareholders (Excluding the Shares Lent through Refinancing)

Number of Number of Common Pledged Marked or

Name of Nature of Holding Percentage Shareholding at Shares Held Frozen Shares

Shareholder Shareholder (%) the End of the Subject to Trading Status of Status of

Reporting Period Moratorium Shares Shares

Syngenta Group State-owned

78.47% 1828137961 -- -- --

Co. Ltd. Legal Person

China Structural State-owned

1.44% 33557046 -- -- --

Reform Fund Legal Person

Hong Kong

Securities Clearing Overseas

0.56% 12965482 -- -- --

Company Ltd. Legal Person

(HKSCC)

Domestic

Zhu Shenglan Natural 0.29% 6700000 -- -- --

Person

Domestic

Wu Feng Natural 0.29% 6670912 -- -- --

Person

Qichun County

State-owned

State-owned 0.18% 4169266

Legal Person

Assets Center

Domestic

Liu Minqin Natural 0.17% 3906760 -- -- --

Person

Hunan Yuanjiang Domestic

0.15% 3434600 -- -- --

Chifeng General

Agrochemical Co. Legal Person

Ltd.Domestic

Fu Kelv Natural 0.14% 3187692 -- -- --

Person

CHINA

INTERNATIONAL

CAPITAL Overseas

0.13% 2959641 -- -- --

CORPORATION Legal Person

HONG KONG

SECURITIES LTD

Shares Held by Top 10 Shareholders Not Subject to Trading Moratorium

(Excluding the Shares Lent through Refinancing and Restricted Shares of Executives)

Number of Shares Held Not Subject Type of Shares

Name of Shareholders to Trading Moratorium at the End of

Type of Shares Amount

the Period

Syngenta Group Co. Ltd. 1828137961 RMB Ordinary Share 1828137961

China Structural Reform

33557046 RMB Ordinary Share 33557046

Fund

Hong Kong Securities

Clearing Company Ltd. 12965482 RMB Ordinary Share 12965482

(HKSCC)

Zhu Shenglan 6700000 RMB Ordinary Share 6700000

Wu Feng 6670912 RMB Ordinary Share 6670912

Qichun County State-

4169266 RMB Ordinary Share 4169266

owned Assets Center

Liu Minqin 3906760 RMB Ordinary Share 3906760

Hunan Yuanjiang Chifeng

3434600 RMB Ordinary Share 3434600

Agrochemical Co. Ltd.Fu Kelv 3187692 RMB Ordinary Share 3187692

CHINA INTERNATIONAL

CAPITAL CORPORATION Domestically Listed Shares in

2959641 2959641

HONG KONG Foreign Currencies

SECURITIES LTD

Explanation on associated

Syngenta Group Co. Ltd. is neither a related party to any other shareholders listed above

relationship among the

nor any acting-in-concert party as prescribed in the Administrative Methods for Acquisition of

above-mentioned

Listed Companies. It is unknown whether the other shareholders are related parties or

shareholders or

acting-in-concert parties as prescribed in the Administrative Methods for Acquisition of Listed

explanation on acting-in-

Companies.concert

Shareholder Wu Feng held 4067986 shares of the Company through a common securities

Particular about the top account and 2602926 shares of the Company through a credit collateral securities trading

ten shareholder account altogether 6670912 shares. Shareholder Liu Minqin held 478060 shares of the

participating in the Company through a common securities account of the Company and 3428700 shares of

securities financing the Company through a credit collateral securities trading account altogether 3906760

business (if any) shares. Shareholder Fu Kelv held 3187692 shares of the Company through a credit

collateral securities trading account.Shareholders holding more than 5% of shares top ten shareholders and top ten shareholders with

unlimited shares in circulation participating in the shares lending through refinancing arrangement

□Applicable √ Not applicable

Change of top ten shareholders and top ten shareholders with unlimited shares in circulation from the

previous period due to the shares lending/returning through refinancing arrangement

□ Applicable √ Not applicable

2. Total number of preference shareholders and shareholdings of the top 10 of such at the period-

end

□ Applicable √ Not applicable

IV. Other Significant Events

√Applicable □Not applicable

The Company disclosed the Announcement on the Indirect Controlling Shareholder Sinochem Holdings

Corporation Ltd.’s Performance of Its Undertaking to Avoid Horizontal Competition (Announcement No.

2026-38) on CNINFO on September 19 2026. Sinochem has performed within the committed period its

Letter of Undertaking to Avoid Horizontal Competition with ADAMA Ltd. and has effectively addressed

the impact of horizontal competition on the Company through various measures. The Company

periodically reviews overlapping products with Syngenta AG and Yangnong Chemical. In 2025 and the

first half of 2026 the sales of the Company’s overlapping products between the Company and Syngenta

AG and Yangnong Chemical accounted for less than 15% of the Company’s total principal business

revenue and did not constitute a material adverse effect on the Company.V. Financial Statements

i. Financial Statements

1. Consolidated balance sheet

Prepared by ADAMA Ltd.

30 September 2026

Unit: RMB’000

September 30 December 31 September 30 December 31

Item Item

2026 2025 2026 2025

Current assets: Current liabilities:

Cash at bank and on hand 2443585 3450300 Short-term loans 5698952 6673792

Financial assets held for

23323 1223 Derivative financial liabilities 169119 189581

trading

Derivative financial assets 130035 449379 Bills payable 521810 622660

Bills receivable 285122 358489 Accounts payable 4595009 5461749

Accounts receivable 7521243 7124736 Contract liabilities 1505770 1789490

Receivables financing 106685 30767 Employee benefits payable 744083 936724

Prepayments 262729 368012 Taxes payable 448722 539168

Other receivables 774896 1076164 Other payables 1924637 1418093

Non-current liabilities due

Inventories 11163086 11607842 1579312 3825203

within one year

Other current assets 860152 1094273 Other current liabilities 902106 929259

Total current assets 23570856 25561185 Total current liabilities 18089520 22385719

Non-current assets: Non-current liabilities:

Long-term receivables 145801 118203 Long-term loans 1077409 1507514

Long-term equity investments 45294 39312 Debentures payable 4986361 4894076

Other equity investments 140980 129796 Lease liabilities 626381 751226

Investment properties 17720 18869 Long-term accounts payable 145982 164735

Long-term employee benefits

Fixed assets 9254985 10073551 549336 536895

payables

Construction in progress 720605 897175 Provisions 421648 424347

Right-of-use assets 537446 661443 Deferred tax liabilities 183334 224024

Intangible assets 3896249 4302343 Other non-current liabilities 1993589 -

Goodwill 4762320 4964450 Total non-current liabilities 9984040 8502817

Deferred tax assets 1233811 1294176 Total liabilities 28073560 30888536

Other non-current assets 466778 403459 Shareholders’ equity:

Total non-current assets 21221989 22902777 Share capital 2329812 2329812

Total assets 44792845 48463962 Capital reserves 12867124 12867123

Other comprehensive

1078625 1570748

income

Special reserves 9190 6156

Surplus reserves 298610 298610

Retained earnings 135924 502977

Total equity attributed to the

16719285 17575426

shareholders of the company

Non-controlling interests - -

Total equity 16719285 17575426

Total liabilities and equity 44792845 48463962

Gael Hili Samuel Asher Leibowitz Samuel Asher Leibowitz

Legal representative Chief of the accounting work Chief of the accounting organ

2. Consolidated income statement for the period from the year-beginning to the end of the Reporting Period

Unit: RMB’000

January-September January-September

Item

2026 2025

1. Total operating Income 20563565 21678425

Less: Cost of sales 15229293 16004956

Taxes and surcharges 72315 72462

Selling and Distribution expenses 2901505 2950375

General and Administrative expenses 912333 1089510

Research and Development expenses 286881 307417

Financial expenses 1186445 1544466

Including: Interest expense 671473 527096

Interest income 117463 101281

Add: Investment income net 9611 7464

Including: Income from investment in associates

9611 7464

and joint ventures

Gain (Loss) from changes in fair value (15125) 4781

Credit impairment losses (35772) (108746)

Asset Impairment losses (345277) (63997)

Gain from disposal of assets 330850 14599

2. Operating loss (80920) (436660)

Add: Non-operating income 103411 38793

Less: Non-operating expense 88741 19579

3. Total loss (66250) (417446)

Less: income tax expense 278602 5360

4. Net loss (344852) (422806)

4.1 Classified by nature of operations

4.1.1 Continuing operations (344852) (422806)

4.2 Classified by ownership

4.2.1 Shareholders of the Company (344852) (422806)

4.2.2 Non-controlling interests - -

5. Other comprehensive loss net of tax (492123) (33608)

Other comprehensive loss net of tax attributable to shareholders of

(492123) (33608)

the Company

5.1 Items that will not be reclassified into profit/loss 1104 (2882)

5.1.1 Re-measurement of defined benefit plan liability 1104 (2882)

5.2 Items that were or will be reclassified to profit or loss (493227) (30726)

5.2.1 Effective portion of gains or loss of cash flow hedge 12558 (35542)

5.2.2 Translation differences of foreign financial statements (505785) 4816

Other comprehensive income net of tax attributable to Non-controlling

- -

interests

6. Total comprehensive loss for the period (836975) (456414)

Total comprehensive loss attributable to shareholders

(836975) (456414)

of the Company

Total comprehensive income attributable to Non-controlling interests - -

7. Earnings (loss) per share

7.1 Basic earnings (loss) per share (RMB/ share) (0.1480) (0.1815)

7.2 Diluted earnings per share (RMB/ share) N/A N/A

Gael Hili Samuel Asher Leibowitz Samuel Asher Leibowitz

Legal representative Chief of the accounting work Chief of the accounting organ

3. Consolidated cash flow statement for the period from the year-beginning to the end of the Reporting

Period

Unit: RMB’000

January-September January-September

Item

2026 2025

1. Cash flows from operating activities:

Cash received from sale of goods and rendering of services 19598772 22008090

Refund of taxes and surcharges 96558 167870

Cash received relating to other operating activities 258381 105894

Sub-total of cash inflows from operating activities 19953711 22281854

Cash paid for goods and services 13448628 14138110

Cash paid to and on behalf of employees 3070922 2906459

Payments of taxes and surcharges 359538 435698

Cash paid relating to other operating activities 1769371 2427727

Sub-total of cash outflows from operating activities 18648459 19907994

Net cash flows from operating activities 1305252 2373860

2. Cash flows from investing activities:

Cash receipts from disposal of investments 150917 55050

Cash received from investment income 6381 3301

Net cash received from disposal of fixed assets intangible assets

489613 46283

and other long-term assets

Sub-total of cash inflows from investing activities 646911 104634

Cash paid to acquire fixed assets intangible assets and other

728512 865720

long-term assets

Net cash paid to acquire subsidiaries or other

- 56272

business units

Cash paid for other investing activities 21418 124725

Sub-total of cash outflows from investing activities 749930 1046717

Net cash flows from investing activities (103019) (942083)

3. Cash flows from financing activities:

Cash received from borrowings 1185147 1835663

Cash received relating to other financing activities 2836169 1652577

Sub-total of cash inflows from financing activities 4021316 3488240

Cash repayment of borrowings 2963110 3664529

Cash payment for dividends profit distributions or interest 646270 698885

Including: dividends paid to non-controlling interest 22201 74113

Cash paid relating to other financing activities 2467832 533136

Sub-total of cash outflows from financing activities 6077212 4896550

Net cash flows from financing activities (2055896) (1408310)

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

(117660) (27731)

equivalents

5. Net decrease in cash and cash equivalents (971323) (4264)

Add: Cash and cash equivalents at the beginning of the period 3353326 3583963

6. Cash and cash equivalents at the end of the period 2382003 3579699

ii. Impact of initial application of new accounting standards on the opening balances of

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