Summary of Annual Report 2025 of Bengang Steel Plates Co. Ltd.Stock Code: 000761 Abbreviation: Bengang Bancai Announcement No.：2026-008

Summary of Annual Report 2025 of Bengang Steel Plates Co. Ltd.I. Important Notice

This Annual Report Summary is taken from the full text of the Annual Report. Investors are advised to carefully read

the full text of the Annual Report published on the media designated by China Securities Regulatory Commission in

order to fully understand the Company’s operation results financial position and future development plan.All directors have attended the board meeting to review this report.Non-standard auditor’s opinion

□ Applicable √Not applicable

Plans for profit distribution on ordinary shares or conversion of capital reserves into share capital proposed to the Board

during the reporting period

□ Applicable √Not applicable

The Company plans not to pay cash dividends issue bonus shares or increase capital by converting reserves.Plans for profit distribution on preference shares for the reporting period approved by the Board

□ Applicable √ Not applicable

As of the end of the reporting period the parent company had unrecovered losses:

√Applicable □Not applicable

The net profit of the parent company in 2025 was RMB -4085561948.08 yuan and the cumulative undistributed profit

as of the end of 2025 was negative.II. Company Profile and Main Financial Index

1. Company profile

Stock abbreviation Bengang Bancai BengangbanB Stock Code 000761 200761

Stock exchange for listing Shenzhen Stock Exchange

Contact person and manner Board secretary Securities affairs Representative

Name Liu Tiecheng Chen Liwen

Address No1-1 Gangtie Road Pingshan District No1-1 Gangtie Road Pingshan DistrictBenxi City Liaoning Province Benxi City Liaoning Province

Fax 024-47827004 024-47827004

Tel 024-47827003 024-47828980

Email ltcjldd@163.com bgbc000761@126.com

2. Brief introduction of main businesses or products during the reporting period

The Company operates within the steel industry which serves as a vital foundational sector of our national economy a crucial pillar

in the construction of a modern and powerful nation and a key domain for realizing green and low-carbon development.During the reporting period the Company's primary business operations encompassed steel smelting rolling and processing power

generation coal chemicals specialty steel bars railway operations import and export trade R&D and product sales. By

introducing world-class equipment and technology the Company implemented upgrades and modernization across its core steel

operations thereby establishing a premium steel production base. This initiative has resulted in a comprehensive product portfolio

comprising over 60 varieties and more than 7500 specifications. The Company's flagship products—including automotive panels

1Summary of Annual Report 2025 of Bengang Steel Plates Co. Ltd.

appliance sheets oil pipeline steel container plates and shipbuilding plates—are widely utilized across sectors such as automotive

home appliances petrochemicals aerospace machinery manufacturing energy and transportation construction and decoration and

metal products; furthermore these products are exported to numerous countries and regions worldwide.In 2025 China's steel industry is characterized by "volume reduction alongside quality enhancement profit recovery and structural

optimization." Guided by policies aimed at "controlling total output optimizing supply strengthening foundations and driving

transformation" the industry has reversed a two-year downward trend achieving a significant improvement in economic

performance.The company focuses on supporting Angang Group in its pursuit of becoming a world-class enterprise. Adhering to a strategy of

intensive development centered on economic efficiency we consolidate our "Lean + Dual Foundations" framework and practice a

data-driven approach to business management. We employ extraordinary measures to address shortcomings and optimize our

structural layout thereby actively and effectively navigating external challenges characterized by strong supply and weak demand.Prioritizing stability and quality we implement the "Eight Major Efficiency" metrics; across the entire process chain we

systematically enhance process technologies equipment precision and production stability to foster high-efficiency steady output.Focusing on value creation—and grounded in a rolling budget system—we adopt a disciplined approach of "calculating first acting

second; calculating while acting; and calculating after acting." We have established comprehensive systems for performance metrics

accountability and assessment to optimize resource allocation and drive the realization of untapped potential and quality

improvements. Leveraging technological innovation we drive the upgrading of our product portfolio empower operations through

digitalization implement energy-saving and carbon-reduction retrofits and modernize energy-consuming equipment to facilitate

overall industrial upgrading. Finally with a sharp focus on efficiency and profitability we utilize transformative reforms to break

through bottlenecks. We reinforce the interests of key stakeholders strengthen internal synergies address deficiencies and mobilize

our entire workforce to unlock potential and enhance quality thereby facilitating a fundamental shift from a production-oriented

model to a business-management-oriented model.

3. Key accounting data and financial indicators

(1) Major accounting data and financial indicators in the past three years

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

□Yes □No

Reasons for retrospective adjustment or restatement

Business Combinations under Common Control

Unit: RMB

Changes over

2025/12/312024/12/312023/12/31

previous year

Gross assets（RMB） 45770013536.58 45815896140.58 -0.10% 46517731929.05

Net assets attributable to

shareholders of the listed 7935782007.83 11887217861.48 -33.24% 17208525613.69

company（RMB）

Changes over

FY 2025 FY 2024 FY 2023

previous year

Operating income（RMB） 46392250494.48 51266361501.22 -9.51% 57957301717.02

Net profit attributable to the

shareholders of the listed -3942278349.12 -5037271398.28 21.74% -1720871697.00

company（RMB）

Net profit after deducting of

non-recurring gain/loss

-4027129631.46-5221601823.6322.88%-2062055810.29

attributable to the shareholders

of listed company（RMB）

Net Cash flow generated by

-1788816767.801100287994.25-262.58%4346233881.23

business operation（RMB）

Basic earnings per share

-0.960-1.22621.70%-0.419

(RMB/Share)

Diluted earnings per share -0.960 -1.226 21.70% -0.419

2Summary of Annual Report 2025 of Bengang Steel Plates Co. Ltd.

(RMB/Share)

Weighted average net assets

-39.74%-34.29%-5.45%-9.60%

yield

(2) Key financial indicators by quarter

Unit：RMB

First quarter Second quarter Third quarter Fourth quarter

Operation income 12337783878.17 12360016543.82 10503033603.71 11191416468.78

Net profit attributable to

the shareholders of the -766311108.86 -632966672.04 -816510848.81 -1726489719.41

listed company

Net profit after deducting

non-recurring gain/loss

attributable to the -768926383.01 -681453412.77 -843434416.83 -1733315418.85

shareholders of listed

company

Net cash flows generated

by operating activities -417024548.77 788654312.81 -470589947.54 -1689856584.30

Whether the above financial indicators or their totals differ materially from the financial indicators disclosed in the company's

previously released quarterly or semi-annual reports.□Yes□No

4. Information about share capital and shareholders

(1) Table of the number of common shareholders and preferred shareholders whose voting rights have been restored and the

shareholdings of the top 10 shareholders

Unit: share

Total Total

number of number of

Total common preferred

number of shareholder shareholder Total number of preferred

common s at the end s whose shareholders whose voting

shareholder of the voting rights were restored at the

s at the end 45141 month 44336 rights were 0 end of the month before 0

of the before the restored at the annual report

reporting annual the end of disclosure date

period report the

disclosure reporting

date period

Shareholding of top 10 shareholders (Excluding shares lent through refinancing)

Name of Pledge mark or freeze

Nature of Holding

the Number of shares held Restricted shares held situation

shareholder Percentage

shareholder Status Number

Benxi Steel

State-owne

& Iron 10210000

d legal 58.65% 2409628094 0 Frozen

(Group) 0

person

Co. Ltd.Bengang State-owne

Group Notd legal 17.95% 737371532 0 0

Co. Ltd. applicableperson

Guan Hui Domestic Not0.70% 28600000 0 0

natural applicable

3Summary of Annual Report 2025 of Bengang Steel Plates Co. Ltd.

person

Zhang Domestic

Wenyou Notnatural 0.43% 17820865 0 0applicable

person

Hong

Kong

Securities Foreign Not

Clearing legal 0.35% 14291661 0 0applicable

Company person

Limited

Lyu Domestic

Ruijun Notnatural 0.30% 12289100 0 0

applicable

person

Ma Domestic

Yonghua Notnatural 0.24% 10033357 0 0

applicable

person

Zhou Wei Domestic Not

natural 0.24% 9736700 0 0

applicable

person

Gao Tao Domestic Not

natural 0.23% 9600000 0 0

applicable

person

Gao Yong Domestic

Not

natural 0.23% 9418500 0 0

applicable

person

Benxi Iron and Steel (Group) Co. Ltd. has a related relationship with Benxi Iron and Steel Group

Notes to relationship or Co. Ltd. and is a concerted action person stipulated in the "Administrative Measures for the

‘action in concert’ among Acquisition of Listed Companies". It is unknown to the Company whether there is any related

the top 10 shareholders. connection or ‘Action in Concert’ as described by Rules of Information Disclosing Regarding

Changing of Shareholding Status of Listed Companies existing among the above shareholders.Shareholders among the Guan Hui holds 600000 shares of the Company's stock through an investor general account and

top 10 participating in 28000000 shares of the Company's stock through an investor credit securities account. Zhang

securities margin trading Wenyou holds 164498 shares of the Company's stock through an investor credit securities account

(if any) 17656367 shares of the Company's stock through an investor credit securities account. Gao Yong

holds 9418500 shares of the Company's stock through an investor credit securities account.Shareholders holding more than 5% of the shares the top 10 shareholders and the top 10 shareholders of unrestricted tradable shares

participating in the refinancing business and lending shares

□ Applicable √ Not Applicable

The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed compared with the previous period

due to lending/repayment of refinancing

□ Applicable √ Not Applicable

(2) Total number of preferred shareholders of the company and shareholdings of the top 10 preferred shareholders

□Applicable √ Not Applicable

The company had no preferred shares during the reporting period.

(3) Block diagram of the ownership and control relations between the Company and the actual controller

4Summary of Annual Report 2025 of Bengang Steel Plates Co. Ltd.

Liaoning Dongfang

Liaoning Liaoning Provincial Liaoning Huida

Social Security State-owned Assets

Ansteel Fushun New Anrong Investment

Supervision and Group Enterprise

Fund Council Administration Commission Co. Ltd. Steel Co. Ltd. Management Partnership

Management Co. Ltd.(Limited Partnership)

10%20.4%51%9%5%4.6%

Bengang Group Co. Ltd.

100%

Benxi Steel & Iron (Group) Co. Ltd.

58.65%17.95%

Bengang Steel Plates Co. Ltd.

5. Status of outstanding bonds on the date of approval of the annual report

√ Applicable □ Not Applicable

(1) Basic information of bonds

Name of Carrying valueBond

Bond Bond Code Issuance date Maturity date of the bond (in RateAbbreviation 10 thousand)

Bengang Steel Bengang

Plates Co. Ltd.Convertible Convertible 127018 29 Jun 2020 28 Jun 2026 563095.31 3.80%

Bond Bond

Interest payment and repayment of

corporate bonds during the The company paid the fifth year's interest at par value on June 30 2025 with the interest for

reporting period every 10 “Bengang convertible bonds” being RMB 38.00 (tax included).

(2) The latest follow-up ratings and rating changes of corporate bonds

On June 3 2025 China Chengxin International Credit Rating Co. Ltd. issued the "Follow-up Rating Report on the Public Issuance

of A-share Convertible Corporate Bonds by Bengang Plates Co. Ltd." The follow-up rating results show that the company's main

credit rating is AA+ with a stable rating outlook; the credit rating of "Bengang Convertible Bonds" is AAA. For details please refer

to the "2025 Follow-up Rating Report of Bengang Plates Co. Ltd." disclosed by the company on June 3 2025 on

www.cninfo.com.cn.

(3) The company’s main accounting data and financial indicators for the past two years as of the end of the reporting period

Unit: 10 thousand

yuan

Year 2025 Changes over previousItem Year 2024 period

Debt-to-asset ratio 81.20% 72.72% 8.48%

5Summary of Annual Report 2025 of Bengang Steel Plates Co. Ltd.

Net profit after deducting

non-recurring gains and -402712.96 -522160.18 22.88%

losses

EBITDA total debt ratio -6.55% -7.76% 1.21%

Interest Coverage ratio -9.16 -9.33 1.82%

III. Major Events

On June 20 2023 the company disclosed the "Major Asset Replacement and Related Transaction Plan" to carry out

asset replacement with Benxi Iron and Steel Company intending to acquire 100% equity of Benxi Iron and Steel

(Group) Mining Co. Ltd. and intending to dispose of all assets and liabilities of the listed company except for retained

assets and liabilities. The difference between the assets to be acquired and the assets to be disposed of shall be made up

by one party to the other in cash. At present the company is conducting further demonstration and communication and

negotiation on the transaction plan. After the relevant matters are determined the company will convene the board of

directors again for deliberation.On March 28 2025 the Company held the 34th meeting of its Ninth Board of Directors which reviewed and approved

the "Proposal on Jointly Investing with Related Parties to Establish a Subsidiary." The Company and its related party

Ansteel Green Gold Industry Development Co. Ltd. jointly invested RMB 60 million to establish Green Gold (Benxi)

Renewable Resources Co. Ltd. (hereinafter referred to as the "Joint Venture"). Of this the Company invested RMB

30.60 million with its own funds holding 51% shares in the Joint Venture while Green Gold Co. invested RMB 29.40

million with its own funds holding 49% shares. Upon completion of this joint investment the Joint Venture will be

included in the Company's consolidated financial statements and become a holding subsidiary of the Company.Industrial and commercial registration was completed on April 9 2025. For details please refer to the "Announcement

on Jointly Investing with Related Parties to Establish a Subsidiary and Related-Party Transactions" (Announcement No.:

2025-011) and the "Announcement on Progress of Jointly Investing with Related Parties to Establish a Subsidiary and

Completion of Industrial and Commercial Registration" (Announcement No.: 2025-025) both disclosed by the

Company on designated information disclosure media.

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