The Annual Financial Report of 2025 To be a Global Leading Crop Protection
Company
Stock code: 301035 Stock abbreviation: Rainbow Agro Announcement
No.: 2026-028
SHANDONG WEIFANG RAINBOW CHEMICAL CO. LTD
The Annual 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
December 31 2025
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 3545858415.42 3127278835.99
Deposit reservation for balance
Lending to banks and other
financial institutions
Financial assets held for trading
Derivative financial assets 4263716.98 54510264.04
Notes receivable 11569561.38 1549052.97
Accounts receivable 5195696624.20 5383557983.75
Receivables financing 477415.21 1781600.00
Pre-payments 100972866.06 73111436.20
Premium receivable
Re-insurance accounts
receivable
Reserves for re-insurance
contract receivable
Other receivables 60549718.50 44619050.70
Including: interest receivable
Dividends receivable
Financial assets purchased
under resale agreement
Inventory 2653810498.34 2417727613.29
- 1 -The Annual Financial Report of 2025 To be a Global Leading Crop Protection
Company
Including: Data resources
Contracted assets
Assets held for sale 9636456.50
Non-current assets that mature
within one year
Other current assets 358606869.13 373525517.33
Total current assets 11941442141.72 11477661354.27
Non-current assets:
Disbursed loans and advances
Debt investments
Other debt investment
Long-term receivables
Long-term equity investment 938787.85 1163628.51
Other equity instrument
investment
Other non-current financial
assets
Investment real estate 7263907.46 7888049.83
Fixed assets 2833607463.75 2329749377.60
Construction in progress 251267590.56 380857052.90
Productive biological assets
Oil and gas assets
Assets with rights of use 42571790.44 40483198.54
Intangible assets 346009832.70 289263633.21
Including: Data resources
Development expenditure 406092665.80 209479407.05
Including: Data resources
Goodwill 89560239.36 89560239.36
Long-term deferred expenses 26098818.90 30010596.27
Deferred income tax assets 403051310.07 351419889.32
Other non-current assets 63663107.82 88284699.67
Total non-current assets 4470125514.71 3818159772.26
Total assets 16411567656.43 15295821126.53
Current liabilities:
Short-term loan 1704533162.11 2499413865.13
Borrowings from the central
bank
Borrowing from banks and
financial institutions
Financial liabilities held for
trading
Derivative financial liabilities 43957273.82 8956113.54
Notes payable 3968470098.87 3498164564.46
Accounts payable 1377868841.20 1054785779.66
- 2 -The Annual Financial Report of 2025 To be a Global Leading Crop Protection
Company
Advance receipts 222816.73
Contract liability 51042591.49 105244393.90
Financial assets sold for
repurchase
Deposits and interbank deposits
received
Amount received from agency
trading of securities
Amount received from agency
underwriting of securities
Payroll payable 316866749.65 254619742.83
Taxes payable 206121355.82 133155202.22
Other payables 82123529.85 145690804.57
Including: Interests payable
Dividends payable 4531016.11
Charges and commissions
payable
Re-insurance accounts payable
Liabilities held for sale
Non-current liabilities due within
one year 218992467.52 63599585.20
Other current liabilities 14798321.16 5682444.72
Total current liabilities 7984774391.49 7769535312.96
Non-current liabilities:
Provision for insurance contracts
Long-term loan 232800000.00 345772094.74
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liability 38402680.42 31665904.44
Long-term payables
Long-term payroll payable
Accrued liabilities 26945248.00
Deferred income 20317043.46 13105155.44
Deferred income tax liabilities 130779705.66 86672265.19
Other non-current liabilities
Total non-current liabilities 449244677.54 477215419.81
Total liabilities 8434019069.03 8246750732.77
Owner’s equity:
Share capital 280770974.00 280770974.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 2470852835.25 2442307122.42
- 3 -The Annual Financial Report of 2025 To be a Global Leading Crop Protection
Company
Less: Treasury stock 124837079.67 124837079.67
Other comprehensive income 27594464.95 -5194711.56
Special reserve 40641595.53 46616455.84
Surplus reserve 158674657.07 158674657.07
General risk reserve
Undistributed profit 4695381997.25 3862347597.59
Total owners' equity attributed to
parent company 7549079444.38 6660685015.69
Minority shareholder's interest 428469143.02 388385378.07
Total owner's equity 7977548587.40 7049070393.76
Total liabilities and owners equity 16411567656.43 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 FY 2025 FY 2024
I. Gross Operating Income 14688354045.60 13296203422.72
Including: Operating income 14688354045.60 13296203422.72
Interest income
Premium earned
Handling charges and
commissions income
II. Total Operating Costs 12844690397.21 12777719393.05
Including: Costs of business 11339087733.07 10665116425.37
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 77596252.33 64344015.90
Sales expenses 736069496.31 654095305.31
Management expenses 585508389.57 547396454.50
R&D expenditures 183340065.45 169415449.97
Financial expenses -76911539.52 677351742.00
- 4 -The Annual Financial Report of 2025 To be a Global Leading Crop Protection
Company
Including: Interest expenses 97047688.28 131098994.10
Interest income 60358047.47 48047294.66
Add: Other incomes 8625571.07 7691827.35
Income from investment ("-"
for loss) -65948696.12 60450063.81
Including: Income from
investment in associated -224840.66 -281393.06
enterprises 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)
Income from changes in fair
value ("-" for loss) -86815712.14 51677845.80
Credit impairment losses ("-"
for loss) -155526631.03 -161827618.37
Asset impairment losses ("-" for
loss) -40031099.96 -41645775.59
Gains from asset disposal ("-"
for loss) -758159.89 303741.74
III. Operating Profit ("-" for loss) 1503208920.32 435134114.41
Add: Non-operating income 7768326.18 7751093.33
Less: Non-operating expenses 51260732.18 29926589.64
IV. Total Profit Before Tax (“-” for
total 1459716514.32 412958618.10
losses)
Less: Income tax expenses 282475014.88 -115427907.77
V. Net Profit ("-" for net loss) 1177241499.44 528386525.87
(I) Classification by business
continuity
1. Net profit from continuing
operations ("-" for net loss) 1177241499.44 528386525.87
2. Net profit from discontinued
operations ("-" for net loss)
(II) Classification by ownership
1. Net profit attributable to
shareholders of the parent 1044521901.70 450082509.47
company
2. Profit and loss of minority
shareholders 132719597.74 78304016.40
VI. Net Amount after Tax of Other
-10681462.1580086964.19
Comprehensive Income
Net amount of other
comprehensive income after tax 32789176.51 48603060.11
attributed to the owners of parent
- 5 -The Annual Financial Report of 2025 To be a Global Leading Crop Protection
Company
company
(I) 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 32789176.51 48603060.11
into profit and 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 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 financial statement 32789176.51 48603060.11
translation
7. Other
Net amount of other
comprehensive income after tax -43470638.66 31483904.08
attributed to minority shareholders
VII. Total Comprehensive Income 1166560037.29 608473490.06
Total comprehensive income
attributed to parent company 1077311078.21 498685569.58
owners
Total comprehensive income
attributed to minority shareholders 89248959.08 109787920.48
VIII. Earnings per Share:
(i) Basic earnings per share 3.75 1.61
(ii) Diluted earnings per share 3.73 1.61
Legal Representative: Chief Accountant in Charge: Chief of Accounting
- 6 -The Annual Financial Report of 2025 To be a Global Leading Crop Protection
Company
Institution:
Wicky Wang Xing Bingpeng Zhang
Baolin
3. Consolidated Cash Flow Statement
Unit: RMB
Item FY 2025 FY 2024
I. Cash Flows Generated from
Operating Activities:
Cash received from sales of
goods and services 14635132536.86 12980321872.97
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 858819461.24 730759051.64
Cash received relating to other
operating activities 80327049.00 90242236.59
Subtotal of cash inflow in business
activities 15574279047.10 13801323161.20
Cash payments for goods
acquired and services received 11048697050.90 10912111939.23
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
- 7 -The Annual Financial Report of 2025 To be a Global Leading Crop Protection
Company
institutions
Cash payments for interest fee
and commission
Cash payments for insurance
policyholder dividends
Cash payments to employees
and on behalf of employees 1139085502.28 968625859.05
Cash payments for taxes 481756710.84 452772496.27
Other cash payments relating
to operating activities 761374360.94 716473878.28
Subtotal of cash outflow in
business activities 13430913624.96 13049984172.83
Net cash flow from operating
activities 2143365422.14 751338988.37
II. Cash Flows from Investing
Activities:
Cash receipts from investment
withdrawal 6000000.00
Cash receipts from return on
investments 4116107.51
Net cash receipts from disposals
of fixed assets intangible assets 40592969.25 36849278.03
and other long- term assets
Net cash receipts from disposal
of
104987.35
subsidiary or any other business
unit
Other cash receipts relating to
investing activities 62713572.72
Subtotal of cash inflow in
investment activities 44814064.11 105562850.75
Cash payments to acquire or
construct fixed assets intangible 937329470.14 837026058.40
assets 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 investment activities 63194184.81
Subtotal of cash outflow in
investment activities 1000523654.95 837026058.40
Net cash flow in investment
activities -955709590.84 -731463207.65
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions 54230452.56
Including: Cash received from
- 8 -The Annual Financial Report of 2025 To be a Global Leading Crop Protection
Company
investment of minority
shareholder from subsidiary
Cash receipts from borrowings 2254940717.19 4656446806.70
Other cash receipts relating to
financing activities
Subtotal of cash inflow in
financing activities 2254940717.19 4710677259.26
Cash repayments of borrowings 2993676709.06 4100559278.29
Cash payments for distribution
of
310563620.00456503422.71
dividends profits or cash
payments for interest expenses
Including: Dividends and
profits paid to minority
shareholders by subsidiaries
Other cash paid related to
financing activities 24349123.23 144578289.41
Subtotal of cash outflow in
financing activities 3328589452.29 4701640990.41
Net cash flow from financing
activities -1073648735.10 9036268.85
IV. Effect of Exchange Rate
Changes on Cash and Cash 52713698.41 74169690.76
Equivalents
V. Net Increase in Cash and Cash
Equivalents 166720794.61 103081740.33
Add: Beginning balance of
cash and cash equivalents 1288636135.42 1185554395.09
VI. Closing Balance of Cash and
Cash Equivalents 1455356930.03 1288636135.42
4. Consolidated Statement of Changes in Owners' Equity
Amount in the current period
Unit: RMB
FY 2025
Equity attributed to owners of the parent company
Other equity instruments
Minority
Less: Other Gener Undistr Total
Capit Specia Surplu owner’
Preferre Perpetu shareh
Item Treasur Compr al risk ibuted
s
Othe Other Subtot equity
al l s
Share d al reserve older’sy ehensi profit
r al
capital reserv reserve reserv
shares bonds
interest
e stock ve e
incom
e
I. Balance at 2442 - 15867 3862 66606 70490280770 124837 46616 388385
the end of 0.00 0.00 0.00 30712 51947 4657. 0.00 34759 0.00 85015. 70393.the previous 974.00 079.67 455.84 378.07
year: 2.42 11.56 07 7.59 69 76
- 9 -The Annual Financial Report of 2025 To be a Global Leading Crop Protection
Company
Add:
Changes in
accounting
policies
Correction of
errors from
previous
period
Other
II. Opening 2442 - 15867 3862 66606 70490280770 124837 46616 388385
balance of 0.00 0.00 0.00 30712 51947 4657. 34759 85015. 70393.the current 974.00 079.67 455.84 378.07
year 2.42 11.56 07 7.59 69 76
III. Changes 28545 - 83303 9284732789 888394 40083
in Current 712.8 59748 4399. 8193.6
Period (“-” for 176.51 428.69 764.95
decrease) 3 60.31 66 4
10441077311665
(I) Total 32789 89248
comprehensi 52190 11078. 60037.ve income 176.51 959.081.70 21 29
(II) Capital 28545
contribution 28545 28545
and 712.8
reduction by 712.83 712.833
owners
1. Ordinary
shares
invested by
owners
2. Capital
contributed
from other
equity
instrument
holders
3. Amounts
of share- 28545
based 28545 28545
payments 712.8
recognized in 712.83 712.833
owners'
equity
4. Other
--
--
2114826065
(III) Profit 0.00 211487 49165
distribution 7502. 2696.1
502.04194.13
047
1. Appropriati
on of surplus 0.00 0.00
reserve
2. Appropriati
on of general
risk reserve
--
--
3. Distribution 21148 26065
to owners (or 211487 49165
shareholders) 7502. 2696.1502.04 194.13
047
4. Other
(IV) Internal
carry-over of
owners'
equity
1. Capital
reserve
converted
into capital
(or share
capital)
2. Surplus
reserve
converted
into capital
- 10 -The Annual Financial Report of 2025 To be a Global Leading Crop Protection
Company
(or share
capital)
3. Recovery
of losses by
surplus
reserves
4. Carry-over
retained
earnings from
defined
benefit plan
changes
5. Carry-over
retained
earnings from
other
comprehensi
ve income
6. Other
---
(V) Special 0.00 0.00 0.00 0.00 0.00 0.00 0.00 59748 0.00 0.00 0.00 0.00 59748 0.00 59748
reserves
60.3160.3160.31
1. Withdrawal 37820 37820 707715 38528
in the current
period 300.32 300.32 .35 015.67
437954379570771544502
2. Use in the
current period 160.63 160.63 .35 875.98
(VI) Other 0.00 0.00
IV. Balance at 2470 15867 4695 75490 79775280770 124837 27594 40641 428469
the end of 0.00 0.00 0.00 85283 4657. 38199 79444. 48587.the current 974.00 079.67 464.95 595.53 143.02
period 5.25 07 7.25 38 40
Amount of previous year
Unit: RMB
FY 2024
Equity attributed to owners of the parent company
Other equity instruments
Minorit
Less: Other Gener Total
Item Capit Specia Surplus Undistri
owner’
Share Preferre Perpetu
y
Compr al risk s equity
Othe Othe Subtot
al Treasurcapit l reserve utedd al ehensiv reserve shareh
al r
r al
y older’sreserv reserv profit
shares bonds e e e interest
stock
income
I. Balance at 2786 2382 - 15867 65461 29353 6839638596 374108
the end of 6209 0.00 0.00 0.00 93225 0.00 53797 4657.0 0.00 53851. 8110.4 91961.the previous 260.53 6359.04
year: 4.00 2.27 771.67 7 24 8 72
Add:
Changes in 0.00
accounting
policies
Correction of
errors from 0.00 0.00
previous
period
Other 0.00 0.00
II. Opening 2786 2382 - 15867 65461 29353 6839638596 374108
balance of 6209 0.00 0.00 0.00 93225 0.00 53797 4657.0 0.00 0.00 53851. 8110.4 91961.the current 260.53 6359.04
year 4.00 2.27 771.67 7 24 8 72
III. Changes 2108 59374
in Current 124837 48603 80201 121261 114531 94847 209378
Period (“-” 880.0 0.00 0.00 0.00 870.1 0.00 0.00 0.00
for 079.67 060.11 95.31 238.55 164.45 267.59 432.040 5
decrease)
4860345008249868510978608473
(I) Total
comprehensi 060.11 509.47 569.58 7920.4 490.06
- 11 -The Annual Financial Report of 2025 To be a Global Leading Crop Protection
Company
ve income
8
(II) Capital 2108 59374 - -
contribution 124837 16636
and 880.0 0.00 0.00 0.00 870.1 0.00 0.00 0.00 0.00 0.00 0.00 63353 46717
reduction by 079.67 267.830 5 329.52 061.69
owners
1. Ordinary 2108 - -124837 16636
shares 880.0 122728 106091
invested by 079.67 267.83
owners 0 199.67 931.84
2. Capital
contributed
from other 0.00 0.00
equity
instrument
holders
3. Amounts
of share- 59374
based 59374 59374
payments 870.1
recognized 870.15 870.155
in owners'
equity
4. Other 0.00 0.00
----
(III) Profit 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 328821 0.00 328821 31576 360398
distribution
270.92270.92920.72191.64
1. Appropriat
ion of surplus 0.00 0.00
reserve
2. Appropriat
ion of general
risk reserve
3. Distribution - - - -
to owners (or 328821 328821 31576 360398
shareholders
)270.92270.92920.72191.64
4. Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(IV) Internal
carry-over of 0.00 0.00
owners'
equity
1. Capital
reserve
converted 0.00 0.00
into capital
(or share
capital)
2. Surplus
reserve
converted 0.00 0.00
into capital
(or share
capital)
3. Recovery
of losses by 0.00 0.00
surplus
reserves
4. Carry-over
retained
earnings 0.00 0.00
from defined
benefit plan
changes
5. Carry-over
retained
earnings 0.00 0.00
from other
comprehensi
ve income
6. Other 0.00 0.00
802018020180201
(V) Special 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reserves 95.31 95.31 95.31
1.46691466911014947706
Withdrawal
in the current 197.20 197.20 43.29 140.49
period
- 12 -The Annual Financial Report of 2025 To be a Global Leading Crop Protection
Company
2. Use in the 38671 38671 10149 39685
current
period 001.89 001.89 43.29 945.18
(VI) Other 0.00 0.00
IV. Balance 2807 2442 - 15867 66606 38838 70490124837 46616 386234
at the end of 7097 0.00 0.00 0.00 30712 51947 4657.0 0.00 0.00 85015. 5378.0 70393.the current 079.67 455.84 7597.59
period 4.00 2.42 11.56 7 69 7 76
Should there be any difference in the interpretation of the contents the Chinese version of the 2025 Annual
Report shall prevail.SHANDONG WEIFANG RAINBOW CHEMICAL CO.LTD
Board of Directors
April 27 2026
沪公网安备31011802005267号
