Interim report
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Third Quarterly Report of 2025 1 / 14 Stock Code: 600499 Company Name: Keda Group Keda Industrial Group Co., Ltd. Third Quarterly Report of 2025 Important Notice 1.The Board, Directors and Senior Management of the Company warrant that the information in the report is true, ac curate, complete and contains no false record, misleading statement, or material omission, and assume individual and joint legal liabilities to the information contained herein. 2.The officer in charge of the Company, officer in charge of accounting, and o fficer in charge of the accounting office of the Company (head of accounting department), hereby guarantee that the financial statements contained in the report are true, accurate, and complete. 3.Whether the third quarterly financial statements have been audited □Yes √No I. Key financial data (I) Key accounting data and financial indicators Unit: Ten Thousand Yuan Currency: RMB Key accounting data The Reporting Period Change (%) for the Reporting Period as compared to the corresponding period of the previous year Beginning of the year to the end of the Reporting Period Change (%) for the beginning of the year to the end of the Reporting Period as compared to the corresponding period of the previous year Operating revenue 441,691.85 43.89 1,260,533.74 47.19 Total profit 79,851.37 139.53 212,762.96 121.53 Net profit attributable to shareholders of the listed company 40,407.61 62.65 114,914.31 63.49 Net profit attributable to shareholders of the listed company after deducting non-recurring profit or loss 36,161.16 53.25 106,150.24 66.96 Net cash flows from N/A N/A 156,040.51 6,531.40 The Board and Directors warrant that the information in the report contains no false record, misleading statement, or material omission, and shall be liable for the truthfulness, accuracy and completeness of the information contained herein.
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Third Quarterly Report of 2025 2 / 14 operating activities Basic earnings per share (RMB per Share) 0.212 60.61 0.613 64.78 Diluted earnings per share (RMB per Share) 0.212 60.61 0.613 64.78 Weighted average return on net assets (%) 3.41 Increased by 1.22 percentage points 9.61 Increased by 3.50 percentage points As of the end of the Reporting Period As of the end of the previous year Change (%) as of the end of the Reporting Period as compared to the end of the previous year Total assets 2,991,358.35 2,695,019.66 11.00 Owners’ equity attributable to shareholders of the listed Company 1,257,555.45 1,147,893.62 9.55 (II) Non-recurring profit or loss items and amounts √Applicable □Not applicable Unit: Ten Thousand Yuan Currency: RMB Non-recurring profit or loss items Amount for the Reporting Period Amount from the beginning of the year to the end of the Reporting Period Note Gains or losses on disposal of non-current assets, including the write -off of provision for asset impairment -6.88 1,733.66 Government grants included in current profit or loss (other than government grants which are closely related to the Company’s normal operations, meet the requirements of state policies, granted based on fixed standards, and have continuous impact on the Company’s profit or loss 1,239.65 3,267.98 Except for effective hedging operations relate d to the Company's normal business operations, gains and losses arising from the changes in fair value of financial assets and liabilities held by non-financial corporations, as well as gains and losses produced from the disposal of the aforesaid financial assets and liabilities 884.19 2,067.80 Reversal of provision for impairment of receivables which are tested individually for impairment losses 235.49 Profit or loss on debt restructuring 168.62 Other non-operating income and expenses apart from the aforesaid items 3,328.41 4,018.25 Less: Effect of income tax 918.14 2,116.75
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Third Quarterly Report of 2025 3 / 14 Effect of minority interests (after tax) 280.79 610.99 Total 4,246.45 8,764.07 The Company shall explain the reasons for identification of items not illustrated in the Explanatory Announcement on Information Disclosure for Companies Offering Their Securities to the Public No. 1 – Non-recurring Gains or Losses as non-recurring gains or losses items with significant amount and classification of non-recurring gains or losses items illustrated in the Explanatory Announcement on Information Disclosure for Companies Offering Their Securities to the Public No. 1 – Non-recurring Gains or Losses as recurring gains or losses items. □Applicable √Not applicable (III) Details and reasons for changes in key accounting data and financial indicators √Applicable □Not applicable Items Change (%) Main reasons Operating revenue during the Reporting Period 43.89 Mainly due to the increase in operating revenue from the Company's building materials and lithium -ion battery materials segments during this Reporting Period. Total profit during the Reporting Period 139.53 Mainly due to the substantial increase in profit realized from the Company's building materials and lithium -ion battery materials segments during this Reporting Period. Net profit attributable to shareholders of the listed Company during the Reporting Period 62.65 Mainly due to the substantial increase in profit realized from the Company's building materials and lithium -ion battery materials segments during this Reporting Period. Net profit attributable to shareholders of the listed company after deducting non-recurring profit or loss during the Reporting Period 53.25 Mainly due to the substantial increase in profit realized from the Company's building materials and lithium -ion battery materials segments during this Reporting Period. Basic earnings per share during the Reporting Period 60.61 Mainly due to the substantial increase in net profit attributable to shareholders of the listed company during this Reporting Period. Diluted earnings per share during the Reporting Period 60.61 Mainly due to the substantial increase in net profit attributable to shareholders of the listed company during this Reporting Period. Operating revenue from the beginning of the year to the end of the Reporting Period 47.19 Mainly due to the increase in oper ating revenue from the Company's building materials and lithium -ion battery materials segments from the beginning of the year to the end of the Reporting Period. Total profit from the beginning of the year to the end of the Reporting Period 121.53 Mainly due to the substantial increase in profit realized from the Company's building materials and lithium -ion battery materials segments from the beginning of the year to the end of the Reporting Period. Net profit attributable to shareholders of the listed Company from the beginning of the year to the end of the Reporting Period 63.49 Mainly due to the substantial increase in profit realized from the Company's building materials and lithium -ion battery materials segments from the beginning of the year to the end of the Reporting Period. Net profit attributable to shareholders of the listed company after deducting non-recurring profit or loss from the beginning of the year to the end of the Reporting Period 66.96 Mainly due to the substantial increase in profit realized from the Company's building materials and lithium -ion battery materials segments from the beginning of the year to the end of the Reporting Period. Net cash flow from operating activities from the beginning of the year to the 6,531.40 Mainly due to the substantial increase in cash received from selling goods and providing services from the beginning of
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Third Quarterly Report of 2025 4 / 14 end of the Reporting Period the year to the end of the Reporting Period. Basic earnings per share from the beginning of the year to the end of the Reporting Period 64.78 Mainly due to the substantial increase in net profit attributable to shareholders of the listed company from the beginning of the year to the end of the Reporting Period. Diluted earnings per share from the beginning of the year to the end of the Reporting Period 64.78 Mainly due to the substantial increase in net profit attributable to shareholders of the listed company from the beginning of the year to the end of the Reporting Period. II. Information on Shareholders (I) Total number of ordinary shareholders and number of preferred shareholders with voting rights restored and Top 10 shareholders Unit: Share Total number of ordinary shareholders as at the end of the Reporting Period 56,377 Total number of preferred shareholders with voting rights restored as at the end of the Reporting Period (if any) 0 Shareholding information about the Top 10 shareholders (excluding shares lent via securities lending) Name of shareholder Nature of shareholder Number of shares Ratio (%) Number of restricted shares Pledged, marked or frozen shares Status of shares Number of shares Liang Tongcan Domestic natural person 374,456,779 19.52 0 Pledged 217,610,000 Guangdong Lesso Technology Industrial Co., Ltd. Domestic non- state-owned legal person 153,600,077 8.01 0 N/A 0 Hong Kong Securities Clearing Company Ltd. Foreign legal entity 146,851,189 7.66 0 N/A 0 Lu Qin Foreign natural person 125,983,334 6.57 0 N/A 0 Guangdong Hongyu Group Co., Ltd. Domestic non- state-owned legal entity 64,341,152 3.35 0 Pledged 64,341,152 Foshan New Pearl Enterprise Group Co., Ltd. Domestic non- state-owned legal entity 52,994,111 2.76 0 Pledged 27,000,000 Guan Qi Domestic natural person 49,349,799 2.57 0 N/A 0 Bian Cheng Domestic natural person 49,349,799 2.57 0 N/A 0 Keda Industrial Group Co., Ltd. - Employee Stock Ownership Plan for 2025 Other 48,030,000 2.50 0 0 Xie Yuezeng Domestic natural person 42,286,000 2.20 0 N/A 0 Shareholding information about the Top 10 unrestricted shareholders (excluding shares lent via securities lending) Name of shareholder Number of unrestricted shares held Class and number of shares Class of shares Number Liang Tongcan 374,456,779 Ordinary shares in RMB 374,456,779
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Third Quarterly Report of 2025 5 / 14 Guangdong Lesso Technology Industrial Co., Ltd. 153,600,077 Ordinary shares in RMB 153,600,077 Hong Kong Securities Clearing Company Ltd. 146,851,189 Ordinary shares in RMB 146,851,189 Lu Qin 125,983,334 Ordinary shares in RMB 125,983,334 Guangdong Hongyu Group Co., Ltd. 64,341,152 Ordinary shares in RMB 64,341,152 Foshan New Pearl Enterprise Group Co., Ltd. 52,994,111 Ordinary shares in RMB 52,994,111 Guan Qi 49,349,799 Ordinary shares in RMB 49,349,799 Bian Cheng 49,349,799 Ordinary shares in RMB 49,349,799 Keda Industrial Group Co., Ltd. - Employee Stock Ownership Plan for 2025 48,030,000 Ordinary shares in RMB 48,030,000 Xie Yuezeng 42,286,000 Ordinary shares in RMB 42,286,000 Relationship or concerted actions among the said shareholders Among the aforementioned shareholders, Liang Tongcan is the actual controller of Guangdong Hongyu Group Co., Ltd., and both parties act in concert. Guan Qi has entrusted the exercise of voting rights, nomination rights and proposal rights corresponding to her shareholdings to Bian Cheng, and both parties act in concert; Guangdong Lesso Technology Industrial Co., Ltd., Lu Qin, Foshan New Pearl Enterprise Group Co., Ltd. and Xie Yuezeng do not have any affiliation or act in concert. Keda Industrial Group Co., Ltd. - Employee Stock Ownership Plan for 2025 is a securities account dedicated to the company's employee stock ownership plan, and it is unknown whether other shareholders have affiliations or act in concert. Description of the participation of the top 10 shareholders and the top 10 shareholders not subject to selling restrictions in the margin financing and securities lending (if any). Among the above shareholders, Liang Tongcan holds 32,000,000 shares through credit securities account. Note: As of the close of the SIX Swiss Exchange on September 30, 2025 (Swiss time), the number of the Company's GDRs (Global Depositary Receipts) outstanding was 3,049,103, which represents 25.41% of the actual number of GDRs issued. Participation of shareholders holding more than 5% of the shares, Top 10 shareholders and Top10 unrestricted shareholders in securities lending □Applicable √Not applicable Changes from last period due to the securities lending/non -recovery by Top 10 shareholders and Top 10 unrestricted outstanding shareholders □Applicable √Not applicable III. Other Reminders Other important information about the Company’s operating conditions during the Reporting Period which needs to be brought to the attention of investors √ Applicable □Not applicable
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Third Quarterly Report of 2025 6 / 14 In the first three quarters of 2025, the Company achieved an operating revenue of RMB 12.605 billion, up 47.19% year-on-year, and the net profit attributable to shareholders of the listed company amounted to RMB 1.149 billion yuan, up 63.49% year-on-year. The building materials business has achieved significant growth in operating revenue and markedly improved profitability compared to the same period in 2024, driven by the commencement of new production capacity at the Isinya Ceramic Project in Kenya and t he Ceramic Project in Cô te d'Ivoire, as well as the Tanzania Glass Project, along with the strategic optimization of tile product pricing. Meanwhile, the Peru Glass Project in South America is progressing in accordance with the schedule and is expected to be completed and commence operations in 2026. However, due to changes in macroeconomic policies and market conditions in Honduras, the investment risk associated with the Honduras Ceramic Project has increased, while projected returns have declined. Follow ing a comprehensive assessment, the Company has decided to discontinue further investment in this project. With regard to the ceramic machinery business, which is currently facing multiple challenges including industry cycle adjustments, the segment is exp eriencing temporary operational pressures. To address these challenges, the Company has implemented a series of measures aimed at enhancing the efficiency of localized operations and services in key markets, including actively advance the construction of its ceramic ink factory in Turkey, perfect its layout for spare parts warehouses, and strengthen local teams. In terms of the lithium -ion anode materials business, the production capacity release and process improvements at the facilities in Fujian and Chongqing has enabled the Company to achieve a total annual production capacity of 150,000 tons for artificial graphite anodes. During the Reporting period, the lithium-ion anode materials output exceeded 70,000 tons, represen ting a substantial year-on-year increase, the production and sales increased by more than 300% compared to the same period of the previous year, resulting in a significant improvement in overall profitability. Regarding the strategic investment, in the first three quarters of 2025, Lanke Lithium Industry achieved a production of approximately 31,600 tons and sales of about 31,500 tons of lithium carbonate, with inventory of approximately 1,100 tons. Despite fluctuations in lithium carbonate market prices , through modest increases in production and sales volumes, process optimization, and stri ct cost and expense controls, Lanke Lithium Industry achieved an operating revenue of RMB 1.919 billion and a net profit of RMB 0.622 billion, and contribute RMB 0.271 b illion to the Company's net profit attributable to the parent company through a 43.58% indirect shareholding. IV. Quarterly Financial Statements (I) Type of audit opinions □Applicable √Not applicable (II) Financial Statements Consolidated Balance Sheet 30 September 2025 Prepared by: Keda Industrial Group Co., Ltd. Unit: Ten Thousand Yuan Currency: RMB Type of audit: Unaudited Items September 30, 2025 December 31, 2024
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Third Quarterly Report of 2025 7 / 14 Current assets: Monetary funds 386,757.62 295,203.23 Settlement funds Lending funds Financial assets held for trading 111,562.46 71,659.42 Derivative financial assets Notes receivable 6,319.88 5,237.31 Accounts receivable 313,217.64 225,181.62 Receivables financing 8,065.52 21,080.16 Prepayments 52,349.17 44,241.35 Premium receivable Reinsurance accounts receivable Provision for reinsurance contract receivable Other receivables 18,744.58 24,808.12 Including: Interest receivable Dividends receivable 56.63 Purchases of resold financial assets Inventories 519,363.95 479,429.93 Including: Data resources Contract assets 32,171.02 14,614.29 Assets held for sale 348.18 348.18 Non-current assets due within one year 67,485.88 76,460.69 Other current assets 63,754.02 65,381.81 Total current assets 1,580,139.92 1,323,646.11 Non-current assets: Loans and advances granted Debt investments Other debt investments Long-term receivables 41,284.09 42,206.80 Long-term equity investments 306,294.31 324,817.06 Other equity instrument investments 370.09 420.51 Other non-current financial assets 2,252.37 1,302.52 Investment properties Fixed assets 721,674.96 640,352.85 Construction in progress 69,606.47 100,172.48 Productive biological assets Oil and gas assets Right-of-use assets 4,627.30 4,434.39 Intangible assets 97,074.00 101,694.56
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Third Quarterly Report of 2025 8 / 14 Including: Data resources Development expenses Including: Data resources Goodwill 84,518.14 85,958.84 Long-term prepaid expenses 39.06 49.40 Deferred income tax assets 63,258.34 51,229.43 Other non-current assets 20,219.30 18,734.71 Total non-current assets 1,411,218.43 1,371,373.55 Total assets 2,991,358.35 2,695,019.66 Current liabilities: Short-term loans 152,237.85 101,792.70 Borrowings from the Central Bank Borrowing funds Financial liabilities held for trading 160.01 Derivative financial liabilities Notes payable 70,404.01 43,517.35 Accounts payable 239,890.32 295,408.20 Receipts in advance Contract liabilities 227,215.06 228,154.47 Funds from disposal of repurchased financial assets Deposit-taking and inter-bank deposits Payments received for securities brokerage Payments received for securities underwriting Payroll payable 24,777.28 29,149.48 Taxes payable 37,387.86 19,281.83 Other payables 21,143.59 18,409.73 Including: Interest payable Dividends payable 22.55 18.16 Handling charges and commission Reinsurance accounts payable Liabilities held for sale Non-current liabilities due within one year 188,125.24 141,945.84 Other current liabilities 19,614.94 18,621.16 Total current liabilities 980,796.15 896,440.77 Non-current liabilities: Insurance contracts provision Long-term loans 414,889.11 398,344.55 Bonds payable
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Third Quarterly Report of 2025 9 / 14 Including: Preferred stock Perpetual bonds Lease liabilities 3,810.69 3,758.30 Long-term payables Long-term payroll payables Estimated liabilities 4,123.34 4,117.88 Deferred income 5,062.21 2,733.42 Deferred income tax liabilities 13,785.03 8,811.23 Other non-current liabilities 754.81 1,007.91 Total non-current liabilities 442,425.19 418,773.29 Total liabilities 1,423,221.34 1,315,214.06 Owners’ equity (or shareholders’ equity): Paid-in capital (or share capital) 191,785.64 191,785.64 Other equity instruments Including: Preferred stock Perpetual bonds Capital reserves 235,395.85 264,715.19 Less: Treasury stock 13,319.44 66,764.71 Other comprehensive income -15,923.41 -23,714.02 Special reserves 411.98 423.87 Surplus reserves 84,124.76 84,124.76 General risk provision Undistributed profits 775,080.07 697,322.89 Total owners’ equity (or shareholders’ equity) attributable to parent company 1,257,555.45 1,147,893.62 Non-controlling interests 310,581.56 231,911.98 Total owners’ equity (or shareholders’ equity) 1,568,137.01 1,379,805.60 Total liabilities and owners’ equity (or shareholders’ equity) 2,991,358.35 2,695,019.66 Officer in charge of the Company: Bian Cheng Officer in charge of accounting: Zeng Fei Officer in charge of the accounting office: Luo Lin Consolidated Income Statement January to September 2025 Prepared by: Keda Industrial Group Co., Ltd. Unit: Ten Thousand Yuan Currency: RMB Type of audit: Unaudited Item First three quarters of 2025 (January to September) First three quarters of 2024 (January to September)
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Third Quarterly Report of 2025 10 / 14 I. Total operating revenue 1,260,533.74 856,379.59 Including: Operating revenue 1,260,533.74 856,379.59 Interest income Premium earned Handling charges and commission income II. Total operating expenses 1,085,949.95 803,718.66 Including: Operating expenses 900,396.17 626,046.95 Interest expenses Handling charges and commission payment Surrender value Net compensation expenses Net provision for insurance contract reserves Policy dividend expense Reinsurance cost Taxes and surcharges 5,901.66 4,462.55 Selling expenses 44,266.53 44,492.37 Management expenses 89,558.46 69,741.77 R&D expenses 27,175.48 24,468.36 Financial expenses 18,651.65 34,506.66 Including: Interest expenses 19,527.14 15,441.32 Interest income 5,282.29 4,894.20 Add: Other income 5,662.85 7,828.99 Investment income (losses marked with “-”) 39,172.95 31,536.78 Including: Investment income in associates and joint ventures 36,916.68 32,395.60 Derecognition of income from financial assets measured at amortized cost Exchange gains (losses marked with “-”) Net exposure hedging income (losses marked with “-”) Income from changes in fair value (losses marked with “-”) -107.13 -704.06 Credit impairment loss (losses marked with “-”) -5,961.89 -238.65 Impairment losses on assets (losses marked with “-”) -6,072.00 -22.09 Income from disposal of assets (losses marked with “-”) 2,057.90 3,966.70 III. Operating profits (losses marked with “-”) 209,336.47 95,028.60 Add: Non-operating revenue 4,888.50 4,061.45
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Third Quarterly Report of 2025 11 / 14 Less: Non-operating expenses 1,462.01 3,047.55 IV. Total profit (total losses marked with “-”) 212,762.96 96,042.50 Less: Income tax expenses 29,540.91 12,350.08 V. Net profit (net losses marked with “-”) 183,222.05 83,692.42 (I) Classified by business continuity 1. Net profit from continuing operations (net losses marked with “-”) 183,446.13 84,146.43 2. Net profit from discontinued operations (net losses marked with “-”) -224.08 -454.01 (II) Classified by ownership 1. Net profit attributable to shareholders of parent company (net losses marked with “-”) 114,914.31 70,289.51 2. Profit or loss attributable to minority interests (net losses marked with “-”) 68,307.74 13,402.91 VI. Other comprehensive income, net of tax 17,139.86 -8,414.45 (I) Other comprehensive income attributable to owners of parent company, net of tax 7,790.62 -6,505.41 1. Other comprehensive income that may not be reclassified to profit or loss -50.43 -5,417.35 (1) Change in re -measurement of defined benefit plan (2) Other comprehensive income that may not be transferred to profit or loss under equity method -3.55 (3) Changes in fair value of other equity instrument investments -50.43 -5,413.80 (4) Changes in fair value of enterprise’s own credit risk 2. Other comprehensive income that will be reclassified to profit or loss 7,841.05 -1,088.06 (1) Other comprehensive income that may be transferred to profit or loss under equity method -32.39 -16.28 (2) Changes in fair value of other debt investments (3)Amount of financial assets reclassified to other comprehensive income (4) Credit impairment provision of other debt investments (5) Cash flow hedging reserve (6) Exchange difference on translation of financial statements in foreign currency 7,873.44 -1,071.78 (7) Others (II) Other comprehensive income 9,349.24 -1,909.04
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Third Quarterly Report of 2025 12 / 14 attributable to minority interests, net of tax VII. Total comprehensive income 200,361.91 75,277.97 (I) Total comprehensive income attributable to owners of parent company 122,704.93 63,784.10 (II) Total comprehensive income attributable to minority interests 77,656.98 11,493.87 VIII. Earnings per share: (I) Basic earnings per share (RMB per share) 0.613 0.372 (II) Diluted earnings per share (RMB per share) 0.613 0.372 Officer in charge of the Company: Bian Cheng Officer in charge of accounting: Zeng Fei Officer in charge of the accounting office: Luo Lin Consolidated Cash Flow Statement January to September 2025 Prepared by: Keda Industrial Group Co., Ltd. Unit: Ten Thousand Yuan Currency: RMB Type of audit: Unaudited Item First three quarters of 2025 (January to September) First three quarters of 2024 (January to September) I. Cash flows from operating activities: Cash received from sales of goods or rendering of services 1,189,965.25 856,464.40 Net increase in customer deposit and interbank deposit Net increase in borrowings from the Central Bank Net increase in borrowing funds from other financial institutions Cash received from premium of original insurance contracts Net cash received from reinsurance business Net increase in the insured’s deposit and investment Cash received from interest, handling charges and commission Net increase in borrowing funds Net increase in buyback business Net cash received for securities brokerage Tax refunds received 30,056.19 21,277.09 Other cash received relating to operating activities 26,465.20 21,486.35 Subtotal of cash inflow from operating activities 1,246,486.64 899,227.84 Cash paid for purchase of goods and receipt of services 772,420.58 658,863.91
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Third Quarterly Report of 2025 13 / 14 Net increase in loans and advances from customers Net increase in deposits in the Central Bank and interbank Cash payments of claims for original insurance contracts Net increase in lending funds Cash paid for interest, handling charges and commission Cash paid for policy dividend Cash paid to and for staff 155,207.22 118,764.50 Various types of taxes paid 69,836.00 47,784.39 Other cash paid relating to operating activities 92,982.33 71,461.98 Subtotal of cash outflow from operating activities 1,090,446.13 896,874.78 Net cash flows from operating activities 156,040.51 2,353.06 II. Cash flows from investment activities: Cash received from disposal of investments 402.16 1,644.46 Cash received from investment income 58,291.10 45,207.08 Net cash received from disposal of fixed assets, intangible assets and other long -term assets 13,247.52 9,541.21 Net cash received from disposal of subsidiaries and other business units 56.63 Other cash received relating to investment activities 382,148.50 219,727.87 Subtotal of cash inflow from investing activities 454,145.91 276,120.62 Cash paid for purchase and construction of fixed assets, intangible assets and other long - term assets 139,661.40 154,265.49 Cash paid for investment 1,437.90 5,932.16 Net increase in pledged loans Net cash paid for the acquisition of subsidiaries and other business units 4,896.41 Other cash paid relating to investment activities 424,790.66 230,750.61 Subtotal of cash outflow from investing activities 565,889.96 395,844.67 Net cash flows from investing activities -111,744.05 -119,724.05 III. Cash flows from financing activities: Cash received from capital contributions 2,737.41 3,021.79 Including: Cash received from minority shareholders investment by subsidiaries 2,737.41 3,021.79 Cash received from borrowings 317,866.22 304,563.03 Other cash received relating to financing activities 39,266.84 29,210.68 Subtotal of cash inflow from financing activities 359,870.47 336,795.50 Cash paid for debt repayment 247,668.20 164,512.12
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Third Quarterly Report of 2025 14 / 14 Cash paid for distributing dividend, profit or repaying interest 62,120.58 97,343.30 Including: Dividend and profit paid to minority shareholders by subsidiaries 6,230.11 20,666.70 Other cash paid relating to financing activities 29,541.74 38,118.17 Subtotal of cash outflow from financing activities 339,330.52 299,973.59 Net cash flows from financing activities 20,539.95 36,821.91 IV. Effect of foreign exchange rate changes on cash and cash equivalents 2,378.33 -1,040.58 V. Net increase in cash and cash equivalents 67,214.74 -81,589.66 Add: Opening balance of cash and cash equivalents 216,676.64 337,047.68 VI. Closing bala nce of cash and cash equivalents 283,891.38 255,458.02 Officer in charge of the Company: Bian Cheng Officer in charge of accounting: Zeng Fei Officer in charge of the accounting office: Luo Lin (III) Information on the adjustment to the relevant items in financial statements as at the beginning of the year as a result of the initial adoption of the new accounting standards or standard interpretation since 2025. □Applicable √Not applicable It is hereby announced. Board of Directors of Keda Industrial Group Co., Ltd. October 30, 2025