Stock Code: 000761 Abbreviation: Bengang Bancai Announcement No.：2026-063

Bengang Steel Plates Co. Ltd.Third Quarter Report 2026

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

is true accurate and complete and there are no misrepresentations or misleading statements or

material omission.Important Notice:

1. The Board of Directors the Supervisory Committee and the Directors members of the

Supervisory Committee and senior management of the Company guarantee that there are no

misrepresentations or misleading statements or material omission in this report and individually

and collectively accept full responsibility for the authenticity accuracy and integrity of the

information contained in this report.

2. The person in charge of the company the person in charge of accounting work and the person in

charge of the accounting organization (accounting officer) hereby confirm that the financial report

in this quarterly report is true accurate and complete.

3. Whether the third quarter report is audited

□ Yes √ No

I. Key Financial Data

1. Key Accounting data and Financial Indicators

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

□ Yes √ No

YoY Change

YoY Change for FromYear

Current Reporting from Year

the Reporting Beginning to Period

Period Beginning to

Period End

Period End

Revenue (RMB yuan) 11803952809.46 12.39% 34139593753.86 -3.01%

Net profit attributable to the

shareholders of the listed -1442987701.70 -76.73% -3350535943.22 -51.21%

company (RMB yuan)

Net profit attributable to the

shareholders of listed company

-1486378045.46 -76.23% -3412965836.04 -48.79%

after deducting non-recurring

gain/loss (RMB yuan)

Net cash flows generated by

operating activities (RMB — — 1064015262.73 1175.20%

yuan)

Basic earnings per share (RMB

-0.3510 -77.27% -0.816 -51.39%

yuan/Share)

Diluted earnings per share

-0.3510 -77.27% -0.816 -51.39%

(RMB yuan/Share)

Weighted average net assets

-23.02% -14.98% -53.45% -32.91%

yield

At the end of the

At the end of Increase or decrease at the end of this

current reporting

previous year reporting period over the previous year

period

Total assets (RMB yuan) 45382972810.96 45770013536.58 -0.85%

Net assets attributable to

shareholders of the listed 3657786980.70 7935782007.83 -53.91%

company (RMB yuan)

2. Items and amount of non-recurring profit and loss

√Applicable □ Not applicable

Unit: RMB Yuan

From the beginning of the year to

Items This reporting period Notes

the end of the current period

Profit or loss from disposal of non-current assets

(including the write-off part for which assets -13247458.22 -35259429.92

impairment provision is made)

Government subsidies recorded into current profits

58509688.22 111426291.38and loss（except such government subsidy closelyrelated to the company’s normal business

operation meeting the regulation of national

policy and enjoyed constantly in certain quota orquantity according to a certain standard）

Gains or losses from debt restructuring 108.48 53407.70

Other non-operating income and expenses other

4341832.12 -2210921.89

than above items

Less: Impact of income tax 7426642.11 11516943.92

Impact of non-controlling interests (after tax) -1212815.27 62510.53

Total 43390343.76 62429892.82 --

Other circumstances can be defined as non-recurring profit and loss:

□ Applicable √ Not applicable

The company has no other items of profit or loss that meet the definition of non-recurring profit or loss.For the Company’s non-recurring profit and loss items as defined in “the Explanatory Announcement No.1 oninformation disclosure for Companies Offering their Securities to the Public-Non-recurring Profits and Losses”and its non-recurring profit and loss items as illustrated in “the Explanatory Announcement No.1 on informationdisclosure for Companies Offering their Securities to the Public-Non-recurring Profits and Losses” which have

been defined as recurring profits and losses it is necessary to explain the reason.□ Applicable √ Not applicableNone of non-recurring profit and loss items recognized as recurring profit and loss items as defined by “theExplanatory Announcement No.1 on information disclosure for Companies Offering their Securities to thePublic-Non-recurring Profits and Losses” in the report period.

3. Major Changes in Financial Data and Financial Index and Reasons

√Applicable □ Not applicable

Items and reasons for the changes of more than 30% compared with the beginning of the year or compared with

the same period of the previous year in the consolidated statement:

Increase /

1. Statement of Financial Position Reasons

Decrease

Driven by ongoing reductions in receivables and inventory

Cash at bank and on hand 31.38% optimized operating cash outflows which enhanced overall

capital efficiency and boosted the cash balance.Due to the proactive optimization of the settlement structure and

Notes receivable -31.58% a significant increase in spot cash settlements which reduced

the balance of notes receivable.Due to a periodic contraction in domestic coal supply and

Prepayments 50.35% sustained increases in market coal prices which drove a

year-over-year rise in prepayment balances for coal

procurement.Due to an increase in bank borrowings to complete the full

Short-term loans 1270.03% principal and interest redemption of maturing convertible

corporate bonds.Accounts payable 36.40% Due to the increase in operating payments for the current period.Due to the increase in unused employee education funds

Employee benefit payables 432.38%

provisioned in this period.Other non-current liabilities due Due to the redemption of maturing convertible corporate bonds

-71.33%

within one year during the period.Due to an increase in bank borrowings to complete the full

Long-term loans 47.37% principal and interest redemption of maturing convertible

corporate bonds.Due to the increase in special reserves already provisioned but

Special reserves 1858.35%

not used.

2. Statement of comprehensive Increase /

Reasons

income Decrease

Due to higher inventory write-downs provisioned as falling

Asset impairment losses 643.84% product selling prices and rising raw material costs such as

coal squeezed margins.Due to the decrease in the provision for bad debts of accounts

Credit impairment losses -35.69%

receivable.Increase /

3. Statement of cash flows Reasons

Decrease

Tax rebate received 353.72% Due to the decrease in tax rebate received.Other cash received relating to Due to the reduction in government funding received during the

-35.37%

operating activities current period.Due to strengthened capital controls continued curbs on

Net cash flows from operating

1175.20% receivables and inventory strict control over operating cash

activities

expenses which steadily improved operating cash flows.Net cash received from disposal of

Due to the decrease in cash received from asset disposals

fixed assets intangible assets and -100.00%

compared to the previous period.other long-term assets

Due to increased bank borrowings to fund the full redemption of

Proceeds from borrowings 190.42% maturing convertible corporate bonds and bank loan rollovers

to optimize debt maturity profile.Other proceeds relating to financing Mainly due to changes in security deposits for notes during the

-41.51%

activities period.Mainly due to the redemption of maturing convertible bonds

Cash repayments of borrowings 232.51% and bank loan rollovers to optimize the debt maturity profile

during the period.Cash payments for distribution of

Due to increased cash outlays from interest payments on

dividends profit or interest 208.15%

maturing convertible bonds during the period.expenses

Other cash payments relating to Mainly due to changes in security deposits for notes during the

-39.45%

financing activities period.Effect of foreign exchange rate

Mainly due to the decrease in cash resulting from US dollar

changes on cash and cash -473.47%

exchange rate fluctuations during the period.equivalents

Mainly due to strengthened end-to-end fund controls strict

Net increase in cash and cash

141.50% control over operating cash expenses expanded notes payable to

equivalents

extend payment cycles.II. Shareholders Information

1. Total number of common shareholders preferred shareholders whose voting rights

restored and shareholding of top 10 shareholders

Unit: Share

Total number of preferred

Total number of common

shareholders with voting rights

shareholders at the end of the 45449 0

restored at the end of the reporting

reporting period

period (if any)

Shareholding by Top 10 shareholders (excluding shares loaned through refinancing)

Nature of Amount of Number of shares pledged/frozen

Name of the Proportion of Quantity of

shareholde restricted shares

shareholder shares held shares

r held State of share Quantity

State-own

Benxi Steel & Iron 240962809

ed legal 58.65% 0 Frozen 102100000

(Group) Co. Ltd. 4

person

State-own

Bengang Group

ed legal 17.95% 737371532 0 Not applicable 0

Co. Ltd.person

Domestic

Guan Hui natural 0.69% 28300000 0 Not applicable 0

person

Hong Kong Overseas 0.40% 16435186 0 Not applicable 0

Securities Clearing legal

Company Ltd. person

Domestic

Zhang Wenyou natural 0.38% 15597265 0 Not applicable 0

person

Domestic

Lyu Ruijun natural 0.31% 12612200 0 Not applicable 0

person

Domestic

Zhou Wei natural 0.27% 11006600 0 Not applicable 0

person

Domestic

Ma Yonghua natural 0.24% 10036457 0 Not applicable 0

person

Domestic

Gao Yong natural 0.17% 6819100 0 Not applicable 0

person

China Minsheng

Banking Corp.Ltd. – Jinyuan

Shun'an Yuanqi Others 0.13% 5148700 0 Not applicable 0

Flexible Allocation

Hybrid Securities

Investment Fund

Shareholding of top 10 shareholders of unrestricted shares (Excluding shares lent through refinancing and shares

locked by senior executives)

Number of non-restricted common shares held Category of shares

Name of the shareholder

at the period-end Category of shares Quantity

Benxi Steel & Iron (Group) Common shares in

2409628094 2409628094

Co. Ltd. RMB

Common shares in

Bengang Group Co. Ltd. 737371532 737371532

RMB

Common shares in

Guan Hui 28300000 28300000

RMB

Hong Kong Securities Common shares in

16435186 16435186

Clearing Company Ltd. RMB

Common shares in

Zhang Wenyou 15597265 15597265

RMB

Domestically

Lyu Ruijun 12612200 12612200

listed foreign

shares

Common shares in

Zhou Wei 11006600 11006600

RMB

Domestically

Ma Yonghua 10036457 listed foreign 10036457

shares

Common shares in

Gao Yong 6819100 6819100

RMB

China Minsheng Banking

Corp. Ltd. – Jinyuan Shun'an

Common shares in

Yuanqi Flexible Allocation 5148700 5148700

RMB

Hybrid Securities Investment

Fund

Benxi Steel & Iron (Group) Co. Ltd. and Bengang Group Co. Ltd. are related partiesRelated-parties or and parties acting in concert as defined in “Measures for the Administration of theacting-in-concert parties Takeover of Listed Companies” . It is unknown to the Company whether there is anyamong the above-mentioned other related parties or parties acting in concert as defined in “Measures for theshareholders Administration of the Takeover of Listed Companies” among the above-mentioned

shareholders.Guan Hui holds 300000 shares of the company through an ordinary securities account

and holds 28000000 shares of the company through an investor's credit securities

account. Zhang Wenyou holds 801398 shares of the company through an ordinary

Shareholders among the top 10

securities account and holds 14795867 shares of the company through an investor's

participating in securities

credit securities account. Zhou Wei holds 430000 shares of the company through an

margin trading (if any)

ordinary securities account and holds 10576600 shares of the company through an

investor's credit securities account. Gao Yong holds 6819100 shares of the company

through an investor's 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 and Shareholding of Top 10 Preferred

Shareholders

□Applicable √ Not applicable

III. Other Major Events

√Applicable □ Not applicable

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.IV. Quarterly Financial Statements

1. Financial Statements

(1) CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Prepared by: Bengang Steel Plates Co. Ltd.September 30 2026

Unit: Yuan

Items Ending balance Beginning balance

Current assets:

Cash at bank and on hand 1481132973.98 1127390675.15

Settlement provisions

Capital lent

Financial assets held for trading

Derivative financial assets

Notes receivable 273523791.75 399759776.83

Accounts receivable 1207309320.79 1178780456.77

Accounts receivable financing 232366100.27 331321177.27

Prepayments 473347065.24 314825894.06

Premium receivable

Reinsurance accounts receivable

Receivable deposit for reinsurance

contract

Other receivables: 5252890.15 4034061.03

Including: Interest receivables

Dividend receivables

Redemptory financial assets for sale

Inventories 5968834258.66 6369194886.12

Including: data assets

Contract assets

Assets classified as held for sale

Items Ending balance Beginning balance

Non-current assets due within one year

Other current assets 443222190.25 450271362.93

Total current assets 10084988591.09 10175578290.16

Non-current assets:

Loan and advances issued

Debt investments

Other debt investments

Long-term receivables

Long-term equity investments 43269884.04 43269884.04

Other equity instrument investments 890420831.77 890420831.77

Other non-current financial assets

Investment properties

Fixed assets 28358118006.57 28412673622.89

Construction in progress 2640006676.35 3074712066.38

Productive biological assets

Oil and gas assets

Right of use assets 2827699069.16 2607155393.90

Intangible assets 381105567.72 383659012.77

Including: data assets

Development expenditure 3700000.00 3700000.00

Including: data assets

Goodwill

Long-term deferred expenses

Deferred tax assets 89613054.96 124211917.95

Other non-current assets 64051129.30 54632516.72

Total non-current assets 35297984219.87 35594435246.42

Total assets 45382972810.96 45770013536.58

Current Liabilities:

Short-term loans 4571231992.53 333660470.12

Loan from central bank

Absorbed deposit and interbank deposit

Financial liabilities held for trading

Derivative financial liabilities

Items Ending balance Beginning balance

Notes payable 13627733203.81 12962287642.88

Accounts payable 3638201613.43 2667236412.66

Advance from customers 167930.67 49541.35

Contract Liabilities 3320379260.53 2736697947.25

Financial assets sold for repurchase

Deposits from customers and interbank

Acting trading securities

Acting underwriting securities

Employee benefits payable 13772052.08 2586883.29

Current tax liabilities 35035820.11 59857286.81

Other payables 2408479872.92 2775544196.11

Including: Interest payables

Dividend payables 45054305.70 45054305.70

Handling charges and commission

payable

Reinsurance accounts payable

Liabilities held for sale

Non-current liabilities due within one

1989841921.20 6940934862.49

year

Other current liabilities 345381833.47 275281765.24

Total current liabilities 29950225500.75 28754137008.20

Non-current liabilities:

Provision for insurance contract

Long-term loans 8863685687.76 6014469758.11

Bonds payable

Including: Preferred stock

Perpetual bond

Lease liabilities 2145218389.39 2239436105.64

Long-term payables

Long-term employee benefits payables

Estimated liabilities

Deferred income 135784053.90 158199416.58

Deferred tax liabilities

Other non-current liabilities

Items Ending balance Beginning balance

Total non-current liabilities 11144688131.05 8412105280.33

Total liabilities 41094913631.80 37166242288.53

Shareholders’ equity:

Share capital 4108390102.00 4108236253.00

Other equity instruments 947843680.82

Including: Preferred stock

Perpetual bond

Capital reserves 13256805178.53 13252955837.48

Less: treasury shares

Other comprehensive income -129961806.05 -129961806.05

Special reserves 17262909.09 881502.23

Surplus reserves 1195116522.37 1195116522.37

General risk reserves

Undistributed profits -14789825925.24 -11439289982.02

Total equity attributable to equity holders of

3657786980.70 7935782007.83

the parent company

Non-controlling interests 630272198.46 667989240.22

Total shareholder’s equity 4288059179.16 8603771248.05

Total liabilities and shareholder’s equity 45382972810.96 45770013536.58

Legal Representative: Wang Zhanwei Person in charge of accounting: Liu Tiecheng Accounting Dept. Leader: Li Wenting

(2) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FROM THE BEGINNING OF

THE YEAR TO THE END OF THE CURRENT REPORTING PERIOD

Unit: Yuan

Items Current Period Previous Period

1. Total operating income 34139593753.86 35200834025.70

Including: Operating income 34139593753.86 35200834025.70

Interest income

Premium earned

Income from handling charges and

commission

2. Total operating cost 37248134822.10 37453193556.63

Including: Operating cost 36199842674.70 36391267201.93

Interest cost

Items Current Period Previous Period

Expenditure for handling charges and

commission

Surrender value

Net expenditure for compensation

Net provision for insurance contract

appropriated

Bonus payment for policy

Reinsurance premium

Taxes and surcharges 147780590.24 155564063.78

Selling and distribution expenses 95644688.28 92001137.07

General and administrative expenses 385077616.12 464341927.18

Research and development expenses 51983945.99 54752626.05

Financial expenses 367805306.77 295266600.62

Including: interest expenses 285689991.46 309697561.12

Interest incomes 36566562.89 26689803.89

Add: Other incomes 113269060.37 154366417.48

Income on investment ("-" for loss) -17271351.76 -22695482.30

Including: Income from associates and joint

-612727.73

ventures

Income from derecognition of

-3535909.37 -2505428.74

financial assets measured at amortised cost

Exchange Income ("-" for loss)Hedging income from net exposure (“-" forloss)Gains from the change in fair value (“-" forloss)Expected credit losses (“-" for loss) -8152382.34 -12677662.88Asset impairment losses (“-" for loss) -199431219.55 36671170.60Assets disposal gains (“-” for loss） 3008.85

3. Operating profit ("-" for loss) -3220126961.52 -2096692079.18

Add: Non-operating income 12788744.66 13540857.60

Less: Non-operating expenses 50259096.47 47854258.98

4. Total profit ("-" for loss) -3257597313.33 -2131005480.56

Less: Income tax expenses 68909427.65 32724492.30

5. Net Profit ("-" for loss) -3326506740.98 -2163729972.86

Items Current Period Previous Period

(1) Classification by continuing operations

1 Net profit from continuing operations ("-"

-3326506740.98 -2163729972.86

for loss)

2 Net profit from discontinued operation

("-" for loss)

(2) Classification by ownership

1 Net profit attributable to the owners of

-3350535943.22 -2215788629.71

parent company ("-" for loss)

2 Net profit attributable to non-controlling

24029202.24 52058656.85

shareholders ("-" for loss)

6. Other comprehensive income after tax -39668277.75

Other comprehensive income attributable to owners

-39668277.75

of parent company after tax

1) Other comprehensive income items that will

-39668277.75

not be reclassified into gains/losses

(1) . Re-measurement of defined benefit

plans of changes in net debt or net assets

(2) . Other comprehensive income under

the equity method cannot be reclassified into profit or

loss

(3). Changes of fair value of other equity

-39668277.75

instrument investments

(4). Changes in the fair value of the

company's own credit risk

(5). Others

2) Other comprehensive income that will be

reclassified into profit or loss

(1) . Other comprehensive income under

the equity method can be reclassified into profit or

loss

(2). Gains and losses from fair value

changes of other debt investments

(3). Gains and losses resulting from

reclassification of financial assets recognised in other

comprehensive income

(4). Credit impairment losses of other

debt investments

Items Current Period Previous Period

(5). Effective portion of gains or losses

from cash flow hedging

(6). Translation differences in foreign

currency financial statements

(7). Others

Other comprehensive income attributable to

non-controlling shareholders after tax

7. Total comprehensive income -3326506740.98 -2203398250.61

Total comprehensive income attributable to

-3350535943.22 -2255456907.46

owners of parent company

Total comprehensive income attributable to

24029202.24 52058656.85

non-controlling shareholders

8. Earnings per share:

1) Basic earnings per share -0.816 -0.539

2) Diluted earnings per share -0.816 -0.539

The current business combination under common control the net profits of the combined party before the date of

the combination: 0 Yuan net profit of realized by the acquiree in the prior period: 0 Yuan.Legal Representative: Wang Zhanwei Person in charge of accounting: Liu Tiecheng Accounting Dept. Leader: Li Wenting

(3) CONSOLIDATED STATEMENT OF CASH FLOWS FROM THE BEGINNING OFTHE YEAR TO

THE END OF THE CURRENT PERIOD

Unit: Yuan

Items Current Period Previous Period

1. Cash flows from operating activities:

Cash received from sale of goods or

38796448052.45 38842429425.11

rendering of services

Net increase of customers’ deposit and

interbank deposit

Net increase of loan from central bank

Net increase of loans from other financial

institutions

Cash received for premium of original

insurance contract

Net cash received for reinsurance business

Net increase of deposit and investment of

the insured

Items Current Period Previous Period

Net increase of Financial assets at fair value

through profit or loss

Cash from receiving interest handling

charge and commission

Net increase of loans from other financial

institutions

Net increase of fund for buy-back business

Tax rebate received 43695428.70 9630463.34

Other cash received relating to operating

96005979.64 148554958.96

activities

Subtotal of cash inflows from operation activities 38936149460.79 39000614847.41

Cash paid for goods and services 35929523631.65 37084963204.13

Net increase of customer’s loan and

advances

Net increase of deposit in central bank and

interbank deposit

Cash for payment of compensation for

original insurance contract

Net increase in funds lent

Cash for payment of interest handling

charge and commission

Cash for payment of policy bonus

Cash paid to and on behalf of employees 1339677064.28 1430321392.67

Cash paid for all types of taxes 336087922.00 283327290.53

Other cash paid relating to operating

266845580.13 300963143.58

activities

Subtotal of cash outflows from operation

37872134198.06 39099575030.91

activities

Net cash flows from operating activities 1064015262.73 -98960183.50

2. Cash flows from investing activities:

Cash received from return on investments

Cash received from distribution of

dividends or profit

Net cash received from disposal of fixed

assets intangible assets and other long-term 87183020.00

assets

Items Current Period Previous Period

Net cash received from disposal of

subsidiary and other operating units

Other cash received relating to investing

activities

Subtotal of cash inflows from investing activities 87183020.00

Cash paid for acquisition of fixed assets

1303474650.65 1410008415.92

intangible assets and other long-term assets

Cash paid for acquisition of investments 60000000.00

Net increase of mortgage loan

Net cash paid for acquisition of subsidiary

and other operating unit

Other cash paid relating to investing

activities

Subtotal of cash outflows from investing

1303474650.65 1470008415.92

activities

Net cash flows from investing activities -1303474650.65 -1382825395.92

3. Cash flows from financing activities:

Proceeds from investment 3500000.00 29400000.00

Including: Proceeds from investment of

29400000.00

non-controlling shareholders of subsidiary

Proceeds from borrowings 12217500000.00 4206897823.71

Other proceeds relating to financing

1583556733.48 2707393578.90

activities

Subtotal of cash inflows from financing activities 13804556733.48 6943691402.61

Cash repayments of borrowings 10192399451.04 3065289832.66

Cash payments for distribution of dividends

1344824636.04 436417933.62

profit or interest expenses

Including: Cash paid to non-controlling

shareholders as dividend and profit by 59520165.42 109257912.53

subsidiaries

Other cash payments relating to financing

1652292337.97 2728904662.57

activities

Subtotal of cash outflows from financing

13189516425.05 6230612428.85

activities

Net cash flows from financing activities 615040308.43 713078973.76

4. Effect of foreign exchange rate changes on -63624602.70 17036249.85

Items Current Period Previous Period

cash and cash equivalents

5. Net increase in cash and cash equivalents 311956317.81 -751670355.81

Add: Cash and cash equivalents at the

287470306.31 1590205218.91

beginning of the period

6. Cash and cash equivalents at the end of the

599426624.12 838534863.10

period

Legal Representative: Wang Zhanwei Person in charge of accounting: Liu Tiecheng Accounting Dept. Leader: Li Wenting

2. Adjustments to beginning balance due to the first-time implementation of new accounting

standards from 2026

□Applicable √ Not applicable

3. Audit report

Whether the third quarter report is audited

□ Yes √ No

The third quarter report is not audited.Board of Directors of Bengang Steel Plates Co. Ltd.October 30 2026