The First Quarter Financial Report of 2025 To be a Global Leading Crop Protection Company

Stock code: 301035 Stock abbreviation: Rainbow Agro Announcement No.: 2025-025

SHANDONG WEIFANG RAINBOW CHEMICAL CO. LTD

The First Quarter Financial Report of 2025

The Company and all members of the Board of Directors warrant that the information disclosed is true accurate and

complete without false records misleading statements or material omissions.

1. Consolidated balance sheet

Prepared by: Shandong Weifang Rainbow Chemical Co. Ltd

March 31 2025

Unit: RMB

Item Closing balance Opening balance

Current assets:

Monetary funds 2835801888.90 3127278835.99

Deposit reservation for balance

Lending to banks and other financial

institutions

Financial assets held for trading

Derivative financial assets 19669530.23 54510264.04

Notes receivable 1470792.11 1549052.97

Accounts receivable 5293789769.25 5383557983.75

Receivables financing 1310357.50 1781600.00

Pre-payments 115237623.71 73111436.20

Premium receivable

Re-insurance accounts receivable

Reserves for re-insurance contract

receivable

Other receivables 57226327.05 44619050.70

Including.: interest receivable

Dividends receivable

Financial assets purchased under

resale agreement

Inventory 2894984334.78 2417727613.29

Including: Data resources

Contracted assets

1The First Quarter Financial Report of 2025 To be a Global Leading Crop Protection Company

Assets held for sale

Non-current assets that mature

within one year

Other current assets 438970602.55 373525517.33

Total current assets 11658461226.08 11477661354.27

Non-current assets:

Disbursed loans and advances

Debt investments

Other debt investment

Long-term receivables

Long-term equity investment 1011504.52 1163628.51

Other equity instrument investment

Other non-current financial assets

Investment real estate 7732014.24 7888049.83

Fixed assets 2478409170.31 2329749377.60

Construction in progress 370653996.29 380857052.90

Productive biological assets

Oil and gas assets

Assets with rights of use 38978622.03 40483198.54

Intangible assets 303550154.91 289263633.21

Including: Data resources

Development expenditure 259332097.73 209479407.05

Including: Data resources

Goodwill 89560239.36 89560239.36

Long-term deferred expenses 29231986.50 30010596.27

Deferred income tax assets 394230112.12 351419889.32

Other non-current assets 95823582.44 88284699.67

Total non-current assets 4068513480.45 3818159772.26

Total assets 15726974706.53 15295821126.53

Current liabilities:

Short-term loan 2533610622.69 2499413865.13

Borrowings from the central bank

Borrowing from banks and financial

institutions

Financial liabilities held for trading

Derivative financial liabilities 25277779.23 8956113.54

Notes payable 2956812863.76 3498164564.46

Accounts payable 1464784828.83 1054785779.66

Advance receipts 222816.73

Contract liability 104471705.01 105244393.90

Financial assets sold for repurchase

Deposits and interbank deposits

received

2The First Quarter Financial Report of 2025 To be a Global Leading Crop Protection Company

Amount received from agency trading

of securities

Amount received from agency

underwriting of securities

Payroll payable 196480374.15 254619742.83

Taxes payable 129587832.80 133155202.22

Other payables 155651275.80 145690804.57

Including: Interests payable

Dividends payable 1195938.33 4531016.11

Charges and commissions payable

Re-insurance accounts payable

Liabilities held for sale

Non-current liabilities due within one

147969370.2663599585.20

year

Other current liabilities 1094158.49 5682444.72

Total current liabilities 7715740811.02 7769535312.96

Non-current liabilities:

Provision for insurance contracts

Long-term loan 461344860.90 345772094.74

Bonds payable

Including: Preferred shares

Perpetual bonds

Lease liability 29213325.01 31665904.44

Long-term payables

Long-term payroll payable

Accrued liabilities

Deferred income 17464659.56 13105155.44

Deferred income tax liabilities 152660848.78 86672265.19

Other non-current liabilities

Total non-current liabilities 660683694.25 477215419.81

Total liabilities 8376424505.27 8246750732.77

Owner’s equity:

Share capital 280770974.00 280770974.00

Other equity instruments

Including: Preferred shares

Perpetual bonds

Capital reserve 2449720972.41 2442307122.42

Less: Treasury stock 124837079.67 124837079.67

Other comprehensive income 10634557.32 -5194711.56

Special reserve 51002299.60 46616455.84

Surplus reserve 158674657.07 158674657.07

General risk reserve

Undistributed profit 4119090227.09 3862347597.59

Total owners' equity attributed to

6945056607.826660685015.69

parent company

Minority shareholder's interest 405493593.44 388385378.07

Total owner's equity 7350550201.26 7049070393.76

3The First Quarter Financial Report of 2025 To be a Global Leading Crop Protection Company

Total liabilities and owners equity 15726974706.53 15295821126.53

Legal Representative: Chief Accountant in Charge: Chief of Accounting Institution:

Wicky Wang Xing Bingpeng Zhang Baolin

2. Consolidated income statement

Unit: RMB

Item Amount incurred in Q1 2025 Amount incurred in Q4 2024

I. Gross Operating Income 2686285834.39 2693191598.95

Including: Operating income 2686285834.39 2693191598.95

Interest income

Premium earned

Handling charges and

commissions income

II. Total Operating Costs 2356235096.24 2502450985.18

Including: Costs of business 2168741751.45 2151930798.44

Interest expenses

Handling charges and

commission expenses

Surrender value

Net payments for insurance

claims

Net withdrawal of reserve for

insurance responsibility contracts

Expenditures of policy

dividend

Re-insurance expense

Taxes and surcharges 17207374.10 9639670.98

Sales expenses 160867196.07 136012126.19

Management expenses 126256414.43 95232946.97

R&D expenditures 41478564.79 36086891.09

Financial expenses -158316204.60 73548551.51

Including: interest expenses 32333644.56 21851106.77

Interest income 11294458.69 11765988.38

Add: Other incomes 1625097.42 1590381.16

Income from investment ("-" for

-5365136.605221370.46

loss)

Including: income from

investment in associated enterprises -152123.99 -138502.61

and joint ventures

Income recognized

at termination of financial assets

measured at amortized cost

Foreign exchange gain ("-" for

loss)

Net exposure hedging income ("-

" for loss)

4The First Quarter Financial Report of 2025 To be a Global Leading Crop Protection Company

Income from changes in fair

-21881219.088508624.49

value ("-" for loss)

Credit impairment losses ("-" for

11213514.50-15533971.25

loss)

Asset impairment losses ("." for

2108700.92-534514.34

loss)

Gains from asset disposal ("." for

6772.08347243.81

loss)

III. Operating Profit ("." for loss) 317758467.39 190339748.10

Add: Non-operating income 2199322.29 5194095.82

Less: Non-operating expenses 2479717.43 5506355.00

IV. Total Profit Before Tax ("-" for total

317478072.25190027488.92

losses)

Less: Income tax expenses 42981189.38 24726415.53

V. Net Profit ("-" for net loss) 274496882.87 165301073.39

(l) Classification by business

continuity

1.Net profit from continuing

274496882.87165301073.39operations (“-" for net loss)

2. Net profit from discontinuedoperations (“-" for net loss)(ll) Classification by ownership

1.Net profit attributable to

256742629.50152843351.25

shareholders of the parent company

2. Profit and loss of minority

17754253.3712457722.14

shareholders

Vl. Net Amount after Tax of Other

15829268.8891155404.99

Comprehensive income

Net amount of other comprehensive

income after tax attributed to the owners 15829268.88 86903148.60

of parent company

(l) Other comprehensive income

that cannot be reclassified into profit or

loss

1.Changes due to re-

measurement on defined benefit plan

2. Other comprehensive income

that cannot be converted into profit and

loss under the equity method

3. Changes in fair value of other

equity instrument investments

4. Changes in the fair value of

the credit risk of the enterprise

5. Other

(ii) Other comprehensive income

that will be reclassified into profit and 15829268.88 86903148.60

loss

1.Other comprehensive income

that can be converted to profit or loss

under the equity method

2. Changes in fair value for other

investment on bonds

3. Amount of financial assets

5The First Quarter Financial Report of 2025 To be a Global Leading Crop Protection Company

reclassified into other comprehensive

income

4. Provision for credit

impairment of other creditor's rights

investment

5. Cash flow hedge reserve

6. Difference of foreign currency

15829268.8886903148.60

financial statement translation

7. Other

Net amount of other comprehensive

income after tax attributed to minority 0.00 4252256.39

shareholders

Vll. Total Comprehensive Income 290326151.75 256456478.38

(i) Total comprehensive income

272571898.38239746499.85

attributed to parent company owners

(ii) Total comprehensive income

17754253.3716709978.53

attributed to minority shareholders

Vlll. Earnings per Share:

(i) Basic earnings per share 0.91 0.55

(ii) Diluted earnings per share 0.91 0.54

Legal Representative: Chief Accountant in Charge: Chief of Accounting Institution:

Wicky Wang Xing Bingpeng Zhang Baolin

3. Consolidated cash flow statement

Unit: RMB

Item Amount incurred in Q1 2025 Amount incurred in Q4 2024

I. Cash Flows Generated from Operating

Activities:

Cash received from sales of goods and

2787407822.342443204075.57

services

Net increase in deposit from

customers and interbank

Net increase in borrowing from

central bank

Net increase in borrowings from

other financial institutions

Cash receipts from premiums under

direct insurance contracts

Net cash receipts from re-insurance

business

Net cash receipts from policyholders'

deposits and investments

Cash receipts from interest handling

fees and commissions

Net increase in capital borrowed

from banks and other financial

institutions

Net increase in repurchase business

capital

Net cash received from securities

trading brokerage

Cash receipts from tax refunds 193285292.63 204868799.71

Cash received relating to other 15118878.40 18550465.36

6The First Quarter Financial Report of 2025 To be a Global Leading Crop Protection Company

operating activities

Subtotal of cash inflow in business

2995811993.372666623340.64

activities

Cash payments for goods acquired

2471204965.872509486886.84

and services received

Net increase in customer loans and

advances

Net increase in deposits in central

bank and interbank

Cash payments for original insurance

contract claims

Net increase in lending funds from

banks and other financial institutions

Net increase in lending funds from

banks and other financial institutions

Cash payments for insurance

policyholder dividends

Cash payments to employees and on

309909235.87246717193.22

behalf of employees

Cash payments for taxes 104327001.93 70929152.34

Other cash payments relating to

177131056.75137473611.34

operating activities

Subtotal of cash outflow in business

3062572260.422964606843.74

activities

Net cash flow from operating activities -66760267.05 -297983503.10

II. Cash Flows from Investing Activities:

Cash receipts from investment

withdrawal

Cash receipts from return on

investments

Net cash receipts from disposals of

fixed assets intangible assets and other 8431646.84

long-term assets

Net cash receipts from disposal of

subsidiary or any other business unit

Other cash receipts relating to

investing activities

Subtotal of cash inflow in investment

8431646.84

activities

Cash payments to acquire or

construct fixed assets intangible assets 232698396.20 209319241.56

and other long-term assets

Cash payments for investment

Net increase in pledged loans

Net cash payments to acquire

subsidiary and other business units

Other cash payments relating to

5213012.61

investment activities

Subtotal of cash outflow in investment

237911408.81209319241.56

activities

Net cash flow in investment activities -237911408.81 -200887594.72

III. Cash Flows from Financing Activities:

Cash received from capital

contributions

Including: Cash received from

7The First Quarter Financial Report of 2025 To be a Global Leading Crop Protection Company

investment of minority shareholder from

subsidiary

Cash receipts from borrowings 1027634410.10 1406622528.15

Other cash receipts relating to

financing activities

Subtotal of cash inflow in financing

1027634410.101406622528.15

activities

Cash repayments of borrowings 703963732.59 1097060211.08

Cash payments for distribution of

dividends profits or cash payments for 19596054.68 26297924.23

interest expenses

Including: Dividends and profits paid

to minority shareholders by subsidiaries

Other cash paid related to financing

activities

Subtotal of cash outflow in financing

723559787.271123358135.31

activities

Net cash flow from financing activities 304074622.83 283264392.84

IV. Effect of Exchange Rate Changes on

31037664.6912180350.46

Cash and Cash Equivalents

V. Net Increase in Cash and Cash

30440611.66-203426354.52

Equivalents

Add: Beginning balance of cash and

1288636135.421185554395.09

cash equivalents

VI. Closing Balance of Cash and Cash

1319076747.08982128040.57

Equivalents

Should there be any difference in the interpretation of the contents the Chinese version of the First Quarter Report of 2025 shall

prevail.SHANDONG WEIFANG RAINBOW CHEMICAL CO. LTD

Board of Directors

May 08 2025

8