苏常柴B:2026年三季度报告（英文版）

Stock code: 000570 200570 Stock name: Changchai A Changchai B Announcement Number：2026-030

CHANGCHAI COMPANY LIMITED

2026 Third Quarter Report

The company and all members of the board of directors guarantee that the information disclosed is true

accurate and complete without false records misleading statements or significant omissions.Important Notes:

1.The Board of Directors (or the “Board”) as well as the directors and senior management of Changchai

Company Limited (hereinafter referred to as the “Company”) hereby guarantee the truthfulness accuracy and

completeness of the contents of this Quarterly Report and its summary and warrant that there are no false

records misleading statements or material omissions therein and shall be subject to individual and joint and

several legal liabilities.

2.The Company’s legal representative and General Manager head of the Company’s financial department

(equivalent to financial manager) hereby guarantee that the Financial Statements carried in this Quarter Report

are factual accurate and complete.

3.Has the third quarter report been audited

? Yes ? No

I. Key Financial Information

1. Major Accounting Data and Financial Indicators

Whether the company needs to retrospectively adjust or restate prior years' accounting data

? Yes ? No

Increase or Change for the

Amount for the decrease in this

current reporting reporting period

year to date

compared to the Year to date compared withperiod same period last the same period

year of the prior year

Operating revenue (RMB) 461392338.46 -7.94% 2131179011.94 3.34%

Net profit attributable to

the listed company’s 16342168.48 —— 121401822.46 172.88%

shareholders (RMB)

Net profit attributable to

the listed company’s

shareholders before -39974504.62 —— 45273422.85 191.09%

exceptional gains and

losses (RMB)

Net cash generated

from/used in operating — — -375236899.43 ——

activities (RMB)

Basic earnings per share

(RMB/share) 0.0232 —— 0.1720 173.02%

Diluted earnings per share

(RMB/share) 0.0232 —— 0.1720 173.02%

Weighted average return

on equity (%) 0.46% 1.33% 3.46% 2.15%

30 September 2026 31 December 2025 Change of 30 September 2026 over 31December 2025（%）

Total assets (RMB) 5706132143.40 5578281300.02 2.29%

Equity attributable to the

listed company’s 3576049023.80 3443190677.55 3.86%

shareholders (RMB)

2. Exceptional Gains and Losses

? Applicable □ Not applicable

Unit: RMB

Amount for the

Item current reporting Year to date Note

period

This is attributable to the gain

Gain or loss on disposal of non-current on disposal of assets

assets (inclusive of impairment 62504342.29 62782750.52 recognised by the Company in

allowance write-offs) the current reporting period in

respect of the expropriation of

the Sanjing land.Government subsidies included in

current profit and loss (excluding those

closely related to the company's This is attributable to the

normal business operations in government grant recognised

compliance with national policies and 4006700.00 4042700.00 by the Company in the current

regulations enjoyed according to reporting period in respect of

established standards and having a the expropriation of the

continuous impact on the company's Sanjing land.profit and loss)

Except for effective hedging business

related to the normal operation of the This is mainly attributable to

same company non-financial the fluctuations in the fair

enterprises shall bear gains and losses value of part of the stocks held

from changes in fair value of financial -11802.59 21177126.20 by Changzhou Horizon

assets and liabilities held by them as Investment Co. Ltd. the

well as gains and losses from the wholly-owned subsidiary of

disposal of financial assets and the Company during the

liabilities current reporting period.Profit and loss from entrusting others

to invest or manage assets 0.00 176622.04

Reversal of allowance for impairment

of receivables individually assessed for 0.00 91000.00

impairment

Other non-operating income and

expenses other than the above items -33430.01 -18991.30

Less: Income tax effects 10095443.00 12006218.89

Non-controlling interests effects

(net of tax) 53693.59 116588.96

Total 56316673.10 76128399.61 --

Particulars about other items that meet the definition of exceptional gain/loss:

□ Applicable √ Not applicable

No such cases for the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the

Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the

Public—Exceptional Gain/Loss Items:

□ Applicable ? Not applicable

No such cases for the Reporting Period.

3. The situation and reasons for changes in major accounting data and financial indicators

?Applicable ? Not Applicable

(1) Consolidated balance sheet items

Items Ending balance Beginning Year-over-Year(RMB) balance (RMB) Increase/Decrease Reason for change

This is mainly attributable to

the cash dividend distribution

Monetary assets 878032571.25 1338231792.64 -34.39% implemented by the Companyand the net cash outflow from

operating activities during the

reporting period.This is mainly attributable to

the reduction in unmatured

Notes bank acceptance bills with low

receivable 208371235.18 386557535.74 -46.10% credit ratings held endorsedand transferred and discounted

by the Company’s during the

reporting period.This is mainly attributable to

the fact that most of the

Company’s multi-cylinder

engine customers are main

engine supporting entities with

Accounts 1312716421.18 451748532.34 190.59% relatively long credit periods.Receivable During the reporting period the

Company stepped up market

expansion and adopted

moderate credit sales resulting

in a substantial increase in

accounts receivable.This is mainly attributable to

the fact that in accordance with

the production and operation

plan and procurement schedule

for the current period the

Company has successively

Prepayments 5904318.16 22389102.11 -73.63% completed settlement and

warehousing of prepayments

for raw materials equipment

and services made in prior

periods together with the

optimization of payment

timing.Other This is mainly attributable to

receivables 44250485.17 5495898.75 705.15% the receivables arising from theexpropriation of Sanjing land.This is mainly attributable to

Other Current 9911619.38 19020727.98 -47.89% the decrease in the VAT excessAssets input tax credit during the

reporting period.This is mainly attributable to

Construction in

progress 4690967.44 2801650.98 67.44%

the increase in the Company’s

investment in technical

transformation projects.This is mainly attributable to

the increase in accounts

Deferred receivable during the reporting

income tax 10129247.96 7350047.87 37.81% period which led to a

assets corresponding increase indeferred tax assets arising from

the provision for impairment of

accounts receivable.This is mainly attributable to

Short-term the maturity of bank acceptance

Borrowings 7521472.93 88926344.09 -91.54% bills with low credit ratingsdiscounted by the Company

during the reporting period.This is mainly attributable to

Notes payable 771291789.04 562313345.98 37.16% the fact that the Company mademore payments for goods by

issuing bank acceptance bills.This is mainly attributable to

the recognition of gain on

Advances from 0.00 30112510.00 -100.00% disposal of assets in the currentcustomers reporting period for the Sanjing

land compensation received in

advance in the prior period.This is mainly attributable to

Employee the payment of part of wages

Benefits 14379039.33 56773482.39 -74.67% and bonuses accrued in the

Payable prior period during the

reporting period.This is mainly attributable to

the increase in unmatured and

Other current

liabilities 167185906.20 72672756.98 130.05%

transferred bank acceptance

bills with low credit ratings of

the Company during the

reporting period.

(2) Consolidated income statement items

Items Reporting Period Same period of Year-over-Year(RMB) last year (RMB) Increase/Decrease Reason for change

This is attributable to the year-

Finance Costs 8823610.78 -6963710.11 —— on-year decrease in exchangegains and interest income during

the reporting period.This is attributable to the sale of

part of the stocks held by the

Company’s wholly-owned

Investment

Income 32837672.66 8990865.29 265.23%

subsidiary Changzhou Horizon

Investment Co. Ltd. and

dividends received from Bank

of Jiangsu during the reporting

period.This is attributable to the decline

in fair value of stocks held by

Gain on Changes the Company’s wholly-owned

in Fair Value 1848452.90 24996914.55 -92.61% subsidiary Changzhou Horizon

Investment Co. Ltd. during the

reporting period.This is mainly attributable to the

year-on-year increase in

Asset -1543116.71 -1007978.86 —— impairment provisionsimpairment loss recognised for inventories and

other assets during the reporting

period.Asset disposal

income 62782750.52 6534963.52 860.72%

This is mainly attributable to the

recognition of gain on disposal

of assets arising from the

expropriation of Sanjing land

during the reporting period.This is mainly attributable to a

Non-operating

income 18454.17 318597.79 -94.21%

year-on-year decrease in penalty

income during the reporting

period.Non-operating This is mainly attributable to the

expense 37445.47 254767.59 -85.30% external donations made in theprior period.This is mainly attributable to the

continuous expansion of

domestic and overseas markets

during the reporting period

Net amount after optimized sales mix and year-

tax of other on-year increase in sales

comprehensive revenue which drove higher

income 121401822.46 44488834.29 172.88% profits; investment gains from

attributable to the sale of part of the

the parent Company’s shares held by the

company wholly-owned subsidiaryChangzhou Horizon Investment

Co. Ltd.; and gain on disposal

of assets recognized in

connection with the Sanjing

land expropriation.Total

comprehensive

income

attributable to 146045022.46 76915484.29 89.88% Same as above.the owners of the

parent company

Total

comprehensive 153282895.66 82933103.87 84.83% Same as above.income

(3) Consolidated cash flow statement items

Items Reporting Period Same period of

Year-over-Year

(RMB) last year (RMB) Increase/Decre Reason for changease

This is mainly attributable to the

fact that most of the Company’s

multi-cylinder engine customers

Net cash flow are main engine supporting

from operating -375236899.43 -214915731.64 —— suppliers with relatively long

activities credit periods. The Company hasintensified market development

and adopted moderate credit sales

resulting in relatively low capital

recovery.Net cash flow This is attributable to the year-on-

generated from year increase in wealth

investing -97844346.02 26957326.97 —— management products invested by

activities the Company during the reportingperiod.Net cash flow This is mainly attributable to the

generated from increase in the amount of cash

financing -15525235.15 -7056925.07 —— dividends distributed by the

activities Company during the reportingperiod.II.Shareholder Information

1.Table of Ordinary Shareholders and Shareholders with Restored Voting Rights of Preferred Shares

and Shareholding Details of the Top 10 Shareholders

Unit: share

Number of ordinary Number of preferred shareholders with

shareholders 45140 resumed voting rights 0

Shareholding situation of the top 10 shareholders (excluding shares lent through refinancing)

Status of

Number of Pledge

Shareholdin Total shares shares with Judicial

Name of shareholder Nature ofshareholder g held at the

limited Marking and

percentage period-end selling Freezeconditions

held Status Shares

Changzhou Investment Group State-owned legal

Co. Ltd. person 32.26% 227663417

Industrial and Commercial

Bank of China Limited –

Huashang Lexiang Hulian Others 0.54% 3810600

Flexible Allocation Mixed

Securities Investment Fund

KGI ASIA LIMITED Overseas legalentity 0.44% 3100195

Zhao Jun Domestic naturalperson 0.43% 3044400

Bank of China Limited-

Huashang Vision Value

Hybrid Securities Investment Others 0.41% 2895200 0 N/A 0

Fund

Lin Jing Domestic naturalperson 0.40% 2856000

China Minsheng Bank Co.Ltd. – Jinyuan Shunan Yuanqi

Flexible Allocation Mixed Others 0.33% 2340900

Securities Investment Fund

Chen Jian Domestic naturalperson 0.31% 2180800

J. P. Morgan Securities PLC- Overseas legal

Equity capital entity 0.27% 1911434

Li Suinan Domestic naturalperson 0.23% 1600000

Top 10 unrestricted shareholders（Excluding shares lent through refinancing and executive lock up shares）

Unrestricted Shares by type

Name of shareholder shares held at the

period-end Type Shares

Changzhou Investment Group Co. Ltd. 227663417 RMB-denominated 227663417

ordinary share

Industrial and Commercial Bank of China

Limited – Huashang Lexiang Hulian Flexible 3810600 RMB-denominated 3810600

Allocation Mixed Securities Investment Fund ordinary share

KGI ASIA LIMITED 3100195 Domestically listedforeign share 3100195

Zhao Jun 3044400 Domestically listedforeign share 3044400

Bank of China Limited-Huashang Vision Value RMB-denominated

Hybrid Securities Investment Fund 2895200 ordinary share 2895200

Lin Jing 2856000 RMB-denominatedordinary share 2856000

China Minsheng Bank Co. Ltd. – Jinyuan

Shunan Yuanqi Flexible Allocation Mixed 2340900 RMB-denominated

Securities Investment Fund ordinary share

2340900

Chen Jian 2180800 RMB-denominatedordinary share 2180800

J. P. Morgan Securities PLC-Equity capital 1911434 RMB-denominatedordinary share 1911434

Li Suinan 1600000 Domestically listedforeign share 1600000

Explanation of the It is unknown whether there is among the top 10 public shareholders and the

shareholder relationship or top 10 unrestricted public shareholders any related parties or acting-in-concert

concerted action mentioned parties as defined in the Administrative Measures for Information Regarding

above Shareholding Alteration.Explanation on the

participation of the top 10

shareholders in margin Shareholders Lin Jing and Chen Jian hold 2856000 and 2180800 shares of

trading and securities the Company through margin trading securities accounts respectively.lending business

Information regarding the lending of shares through securities refinancing by shareholders holding 5% or more of

shares the top 10 shareholders and the top 10 unrestricted tradable shareholders

? Applicable ? Not Applicable

The changes in the top 10 shareholders and the top 10 unrestricted tradable shareholders compared to the

previous reporting period are due to the lending/return of securities under securities refinancing

? Applicable ? Not Applicable

2. Table of Total Number of Preferred Shareholders and Shareholding Status of the Top 10 Preferred

Shareholders in the Company

? Applicable ? Not Applicable

III. Other important matters

? Applicable □ Not applicable

1. Progress of building acquisition and compensation on state-owned land of the Sanjing branch

On November 29 2023 the Company entered into the Non-residential Building Acquisition and Compensation

Agreement of Xinbei District Changzhou with the Housing and Urban-Rural Development Bureau ofChangzhou National High-Tech Industrial Development Zone (hereinafter referred to as the “Xinbei DistrictHousing and Urban-Rural Development Bureau”) and the Xinbei District Sanjing Sub-district BuildingAcquisition and Compensation Service Center of Changzhou City (hereinafter referred to as the “Sanjing Sub-district”). To improve the efficiency of the acquisition work the Company the Xinbei District Housing and

Urban-Rural Development Bureau and the Sanjing Sub-district reached an agreement on land consolidation

upgrading and subsequent compensation payment for the Sanjing Branch based on professional reports issued

by qualified institutions and planned to sign a supplemental agreement. This matter was reviewed and approved

at the First Extraordinary General Meeting of Shareholders on July 21 2026. In August 2026 the Company

signed the Supplemental Agreement for the acquisition of the Sanjing Branch with the Xinbei District Housing

and Urban-Rural Development Bureau and the Sanjing Sub-district.

2. Progress of Yuanzhi Changtou Xingyu (Changzhou) Equity Investment Partnership (Limited Partnership)

In August 2026 Changzhou Xinhui Private Equity Fund Management Co. Ltd. and Changzhou Xingyu

Industrial Investment Co. Ltd. the original general partners of Yuanzhi Changtou Xingyu (Changzhou) Equity

Investment Partnership (Limited Partnership) which was jointly established by Horizon Investment the wholly-

owned subsidiary of the Company completed withdrawal from the partnership. Changzhou Xingyu Xinhui

Venture Capital Co. Ltd. (a joint venture established by the aforesaid original general partners) was admitted as

the new general partner and executing partner of Yuanzhi Changtou Xingyu to assume the relevant functions of

the two former general partners. Accordingly Yuanzhi Changtou Xingyu adopted a dual-GP fund operation

structure. Meanwhile the partnership amended the clauses on investment scope under the partnership

agreement. On the basis of the original investment scope covering the new energy vehicle and new energy

upstream and downstream industrial chains it added the upstream and downstream supporting industrial chain

of the new-generation information technology as an eligible investment area so as to expand project sources

and investment boundaries. In August 2026 Yuanzhi Changtou Xingyu completed the industrial and

commercial change registration and private investment fund filing procedures.

3. Expropriation and compensation for the company's foundry building

On March 6 2025 the company received the "Decision on the Expropriation of Houses on State-owned Land

by the People's Government of Xinbei District Changzhou City" (Changxin Zheng [2025] No. 1) issued by the

People's Government of Xinbei District Changzhou City. Due to the public interest in the reconstruction of the

old urban area the People's Government of Xinbei District Changzhou City decided to expropriate the houses

within the scope of the old urban area reconstruction project (Phase I) of the company's foundry and

surrounding plots in Sanjing Street. On May 8 2025 the company held the second extraordinary meeting of the

board of directors and the second extraordinary meeting of the board of supervisors in 2025 and deliberated and

approved the "Proposal on Signing the Foundry's 'Changzhou Xinbei District Non-Residential House

Expropriation Compensation Agreement'". This matter was deliberated and approved by the first extraordinary

shareholders' meeting on May 26 2025 agreeing to the company signing compensation agreements with the

Xinbei District Housing and Urban-Rural Development Bureau and Sanjing Street. The total compensation

amount agreed upon in the agreement is 346.8569 million yuan and the expropriation compensation agreement

is yet to be signed.IV. Quarterly financial statements

1. Financial statements

(1) Consolidated Balance Sheet

Prepared by Changchai Company Limited

30 September 2026

Unit: RMB

Item 30 September 2026 1 January 2026

Current assets:

Monetary assets 878032571.25 1338231792.64

Settlement reserve

Interbank loans granted

Held-for-trading financial assets 480898937.09 372184689.98

Derivative financial assets

Notes receivable 208371235.18 386557535.74

Accounts receivable 1312716421.18 451748532.34

Accounts receivable financing 121402794.17 165125708.93

Prepayments 5904318.16 22389102.11

Premiums receivable

Reinsurance receivables

Receivable reinsurance contract

reserve

Other receivables 44250485.17 5495898.75

Including: Interest receivable

Dividends receivable 128000.00 0.00

Financial assets purchased under

resale agreements

Inventories 590900989.09 757083436.15

Including: Data resources

Contract assets

Assets held for sale

Non-current assets maturing

within one year

Other current assets 9911619.38 19020727.98

Total current assets 3652389370.67 3517837424.62

Non-current assets:

Loans and advances to

customers

Investments in debt obligations

Investments in other debt

obligations

Long-term receivables

Long-term equity investments

Investments in other equity

instruments 1010353295.81 981361295.81

Other non-current financial

assets 352013441.08 337118757.03

Investment property 34071595.82 35644130.99

Fixed assets 502923563.04 550316120.80

Construction in progress 4690967.44 2801650.98

Productive living assets

Oil and gas assets

Right-of-use assets

Intangible assets 128911747.33 133751352.61

Including: Data resources

Development costs

Including: Data resources

Goodwill

Long-term prepaid expense 2383477.01 2597472.39

Deferred income tax assets 10129247.96 7350047.87

Other non-current assets 8265437.24 9503046.92

Total non-current assets 2053742772.73 2060443875.40

Total assets 5706132143.40 5578281300.02

Current liabilities:

Short-term borrowings 7521472.93 88926344.09

Borrowings from the central

bank

Interbank loans obtained

Held-for-trading financial

liabilities

Derivative financial liabilities

Notes payable 771291789.04 562313345.98

Accounts payable 665270350.39 793473800.05

Advances from customers 0.00 30112510.00

Contract liabilities 37163461.94 40040496.36

Financial assets sold under

repurchase agreements

Customer deposits and interbank

deposits

Payables for acting trading of

securities

Payables for underwriting of

securities

Employee benefits payable 14379039.33 56773482.39

Taxes payable 5551619.99 5305526.88

Other payables 126210838.23 134619772.83

Including: Interest payable

Dividends payable 3891433.83 3891433.83

Handling charges and

commissions payable

Reinsurance payables

Liabilities directly associated

with assets held for sale

Current portion of non-current

liabilities

Other current liabilities 167185906.20 72672756.98

Total current liabilities 1794574478.05 1784238035.56

Non-current liabilities:

Insurance contract reserve

Long-term borrowings

Bonds payable

Including: Preferred shares

Perpetual bonds

Lease liabilities

Long-term payables

Long-term employee benefits

payable

Provisions 65893719.68 83448865.86

Deferred income 23419140.46 25976437.56

Deferred income tax liabilities 158848067.26 159449521.13

Other non-current liabilities

Total non-current liabilities 248160927.40 268874824.55

Total liabilities 2042735405.45 2053112860.11

Shareholders’ equity:

Share capital 705692507.00 705692507.00

Other equity instruments

Including: Preferred shares

Perpetual bonds

Capital reserves 641070433.90 641070433.90

Less: Treasury stock

Other comprehensive income 701915801.44 677272601.44

Specific reserve 26274967.16 23936408.22

Surplus reserves 370454881.23 370454881.23

General reserve

Retained earnings 1130640433.07 1024763845.76

Total equity attributable to

Shareholders of the Company as 3576049023.80 3443190677.55

the parent

Non-controlling interests 87347714.15 81977762.36

Total shareholders’ equity 3663396737.95 3525168439.91

Total liabilities and shareholders’

equity 5706132143.40 5578281300.02

Legal representative: Xie Guozhong General Manager: Xie Guozhong

Head of the accounting department: Jiang He

(2) Consolidated Income Statement

Unit: RMB

Item Reporting Period Same period of lastyear

1. Revenue 2131179011.94 2062380205.71

Including: Operating revenue 2131179011.94 2062380205.71

Interest income

Insurance premium income

Handling charge and commission income

2. Costs and expenses 2071421074.67 2029066392.77

Including: Cost of sales 1860678573.19 1833062266.84

Interest expense

Handling charge and commission expense

Surrenders

Net insurance claims paid

Net amount provided as insurance contract reserve

Expenditure on policy dividends

Reinsurance premium expense

Taxes and surcharges 15241312.15 13610258.26

Selling expense 44958081.33 49946364.14

Administrative expense 73157281.18 81173540.77

R&D expense 68562216.04 58237672.87

Finance costs 8823610.78 -6963710.11

Including: Interest expense 1185797.08 1847351.42

Interest income 6631897.64 7889599.20

Add: Other income 8151739.43 8360520.25

Return on investment (“-” for loss) 32837672.66 8990865.29

Including: Share of profit or loss of joint ventures and

associates

Income from the derecognition of financial

assets at amortized cost (“-” for loss)

Exchange gain (“-” for loss)

Net gain on exposure hedges (“-” for loss)

Gain on changes in fair value (“-” for loss) 1848452.90 24996914.55

Credit impairment loss (“-” for loss) -18277861.69 -18195218.29

Asset impairment loss (“-” for loss) -1543116.71 -1007978.86

Asset disposal income (“-” for loss) 62782750.52 6534963.52

3. Operating profit (“-” for loss) 145557574.38 62993879.40

Add: Non-operating income 18454.17 318597.79

Less: Non-operating expense 37445.47 254767.59

4. Profit before tax (“-” for loss) 145538583.08 63057709.60

Less: Income tax expense 16898887.42 12551255.73

5. Net profit (“-” for net loss) 128639695.66 50506453.87

5.1 By operating continuity

5.1.1 Net profit from continuing operations (“-” for net

loss) 128639695.66 50506453.87

5.1.2 Net profit from discontinued operations (“-” for net

loss)

5.2 By shareholders’ equity

5.2.1 Net profit attributable to shareholders of the

Company as the parent 121401822.46 44488834.29

5.2.2 Net profit attributable to non-controlling interests 7237873.20 6017619.58

6. Other comprehensive income net of tax 24643200.00 32426650.00

Attributable to shareholders of the Company as the parent 24643200.00 32426650.00

6.1 Items that will not be reclassified to profit or loss 24643200.00 32426650.00

6.1.1 Changes caused by remeasurements on defined

benefit schemes

6.1.2 Other comprehensive income that will not be

reclassified to profit or loss under the equity method

6.1.3 Changes in the fair value of investments in other

equity instruments 24643200.00 32426650.00

6.1.4 Changes in the fair value arising from changes in

own credit risk

6.1.5 Other

6.2 Items that will be reclassified to profit or loss

6.2.1 Other comprehensive income that will be

reclassified to profit or loss under the equity method

6.2.2 Changes in the fair value of investments in other

debt obligations

6.2.3 Other comprehensive income arising from the

reclassification of financial assets

6.2.4 Credit impairment allowance for investments in

other debt obligations

6.2.5 Reserve for cash flow hedges

6.2.6 Differences arising from the translation of foreign

currency-denominated financial statements

6.2.7 Other

Attributable to non-controlling interests

7. Total comprehensive income 153282895.66 82933103.87

Attributable to shareholders of the Company as the parent 146045022.46 76915484.29

Attributable to non-controlling interests 7237873.20 6017619.58

8. Earnings per share

8.1 Basic earnings per share 0.1720 0.0630

8.2 Diluted earnings per share 0.1720 0.0630

Where a business combination under common control occurred in the current period the net profit realised by

the combinee prior to the combination was RMB 0.00 and the net profit realised by the combinee in the prior

period was RMB 0.00.Legal representative: Xie Guozhong General Manager: Xie Guozhong

Head of the accounting department: Jiang He

(3) Consolidated Cash Flow Statement

Unit: RMB

Item Reporting Period Same period of lastyear

1. Cash flows from operating activities:

Proceeds from sale of commodities and rendering of services 1302590931.34 1288866932.65

Net increase in customer deposits and interbank deposits

Net increase in borrowings from the central bank

Net increase in loans from other financial institutions

Premiums received on original insurance contracts

Net proceeds from reinsurance

Net increase in deposits and investments of policy holders

Interest handling charges and commissions received

Net increase in interbank loans obtained

Net increase in proceeds from repurchase transactions

Net proceeds from acting trading of securities

Tax rebates 38598394.18 43208363.86

Cash generated from other operating activities 25566415.68 21225261.73

Subtotal of cash generated from operating activities 1366755741.20 1353300558.24

Payments for commodities and services 1299434825.53 1150213213.74

Net increase in loans and advances to customers

Net increase in deposits in the central bank and in interbank

loans granted

Payments for claims on original insurance contracts

Net increase in interbank loans granted

Interest handling charges and commissions paid

Policy dividends paid

Cash paid to and for employees 246782551.10 238938690.91

Taxes paid 82806123.22 52976271.62

Cash used in other operating activities 112969140.78 126088113.61

Subtotal of cash used in operating activities 1741992640.63 1568216289.88

Net cash generated from/used in operating activities -375236899.43 -214915731.64

2. Cash flows from investing activities:

Proceeds from disinvestment 1096192952.22 990373006.37

Return on investment 50474643.95 12999882.94

Net proceeds from the disposal of fixed assets intangible

assets and other long-lived assets 431763.26 4079340.22

Net proceeds from the disposal of subsidiaries and other

business units 52829.44

Cash generated from other investing activities

Subtotal of cash generated from investing activities 1147152188.87 1007452229.53

Payments for the acquisition of fixed assets intangible assets

and other long-lived assets 5451395.84 5941402.56

Payments for investments 1239545139.05 974553500.00

Net increase in pledged loans granted

Net payments for the acquisition of subsidiaries and other

business units

Cash paid for other investing activities

Subtotal of cash used in investing activities 1244996534.89 980494902.56

Net cash generated from/used in investing activities -97844346.02 26957326.97

3. Cash flows from financing activities:

Capital contributions received

Including: Capital contributions by non-controlling interests to

subsidiaries

Borrowings raised

Cash generated from other financing activities

Subtotal of cash generated from financing activities

Repayment of borrowings

Cash paid for distribution of dividends or profits or for

payment of interest 15525235.15 7056925.07

Including: Dividends paid by subsidiaries to non-controlling

interests

Cash used in other financing activities

Subtotal of cash used in financing activities 15525235.15 7056925.07

Net cash generated from/used in financing activities -15525235.15 -7056925.07

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

equivalents -14715041.02 0.00

5. Net increase in cash and cash equivalents -503321521.62 -195015329.74

Add: Cash and cash equivalents beginning of the period 1248067921.44 892681884.84

6. Cash and cash equivalents end of the period 744746399.82 697666555.10

2. Initial application of new accounting standards effective from 2026 and adjustments to the status of

relevant items in the financial statements as of the beginning of the current year

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