FOSHAN ELECTRICAL AND LIGHTING CO., LTD.

INTERIM REPORT 2026

August 2026

Part I Important Notes, Table of Contents and Definitions

The Board of Directors (or the “Board”) as well as the directors and senior management of Foshan Electrical and Lighting Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee the factuality, accuracy and completeness of the contents of this Report and its summary, and shall be jointly and severally liable for any misrepresentations, misleading statements or material omissions therein.

Yu Zhongmin, the Company’s legal representative, Li Zehua, the Company’s person in charge of accounting work, and Li Yizhi, the Company’s person in charge of the accounting department (accounting supervisor) hereby guarantee that the Financial Statements carried in this Report are factual, accurate and complete.

All the Company’s directors have attended the Board meeting for the review of this Report and its summary.

The future plans and other forward-looking statements, as well as the cautionary statements mentioned in this Report shall not be considered as virtual promises of the Company to investors. And investors are kindly reminded to be well aware of possible risks.

The Company has described in detail in this Report the risk of macro-economic fluctuations and intensified market competition, the risk of rising raw material prices, the risk of exchange rate fluctuations, the risk of the recoverability of accounts receivable. Please refer to the section headed “Risks Facing the Company and Countermeasures” in Item X of Part III of this Report.

The Company does not intend to distribute cash dividends, issue bonus shares, or capitalize capital reserves into share capital for the Reporting Period.

This Report has been prepared in Chinese and translated into English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese version shall prevail.

Table of Contents

• Part I Important Notes, Table of Contents and Definitions...........................................................2
• Part II Corporate Information and Key Financial Information................................................... 6
• Part III Management Discussion and Analysis............................................................................... 9
• Part IV Governance, Environmental and Social Information.....................................................44
• Part V Significant Events.................................................................................................................47
• Part VI Share Changes and Shareholder Information.................................................................71
• Part VII Bonds..................................................................................................................................78
• Part VIII Financial Statements.......................................................................................................79

Documents Available for Reference

• 1. The financial statements signed and stamped by the Company’s legal representative, person

in charge of accounting work, and person in charge of the accounting department.

• 2. The originals of all the Company’s announcements and documents disclosed to the public

during the Reporting Period on the media designated by the CSRC for information disclosure.

Definitions

Part II Corporate Information and Key Financial Information

I Corporate Information

II Contact Information

III Other Information

• 1. Contact Information of the Company Indicate whether any change occurred to the registered address, office address and their zip codes, website address, email address and other contact information of the Company in the Reporting Period.

□ Applicable  Not applicable No change occurred to the said information in the Reporting Period, which can be found in Annual Report 2025.

• 2. Media for Information Disclosure and Place where this Report Is Lodged Indicate whether any change occurred to the information disclosure media and the place for lodging the Company’s periodic reports in the Reporting Period.

□ Applicable  Not applicable The website of the stock exchange, the media and other website where the Company’s periodic reports are disclosed, as well as the place for lodging such reports did not change in the Reporting Period. The said

information can be found in Annual Report 2025.

• 3. Other Information Indicate whether any change occurred to other information in the Reporting Period.

• □ Applicable  Not applicable

• IV Key Financial Information Indicate whether there is any retrospectively restated datum in the table below.

□ Yes  No

• V Accounting Data Differences under China’s Accounting Standards for Business Enterprises (CAS) and International Financial Reporting Standards (IFRS) and Foreign Accounting Standards

• 1. Net Profit and Equity under CAS and IFRS

□ Applicable  Not applicable No difference for the Reporting Period.

• 2. Net Profit and Equity under CAS and Foreign Accounting Standards

• □ Applicable  Not applicable No difference for the Reporting Period.

VI Exceptional Gains and Losses  Applicable □ Not applicable

Unit: RMB

Details of other items that meet the definition of exceptional gain/loss:

• □ Applicable  Not applicable No such cases for the Reporting Period. Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:
• □ Applicable  Not applicable No such cases for the Reporting Period.

Part III Management Discussion and Analysis

I Principal Operations of the Company in the Reporting Period

• 1. Principal operations The Company has been committed to the R&D, production and sale of high-quality and energy-efficient

lighting products in order to provide integrated lighting solutions for customers. It is the controlling shareholder of Liaowang Auto Lamp, NationStar Optoelectronics, Hule Electrical, and Airtrust through acquisition programs starting from 2021. At present, the principal business of the Company mainly includes the R&D, production and sale of general lighting products, automotive lighting products, and LED packaging products.

The general lighting mainly covers LED light sources, LED luminaries, and comprehensive lighting solutions for home lighting, commercial lighting, industrial lighting, municipal road lighting and landscape lighting. Over recent years, the Company has also been exploring new fields, including smart lighting, healthy lighting, marine lighting, sports lighting and aviation lighting.

Based on its own automotive light sources and modules, the Company, relying on its majority-owned subsidiary Liaowang Auto Lamp, has expanded the automotive lighting business into the automotive OEM market, involving basically all the lights that an automobile requires, such as headlights, rear light combos, fog lights, backup lights, interior lights, and license plate lights. The main clients of Liaowang Auto Lamp include SAIC-GM-Wuling Automobile, Chongqing Changan Automobile, SERES, IM, SAIC Maxus Automotive, and other whole-automobile manufacturers, and medium- and high-end products take up an increasing percentage of its total sales of automotive lights.

The Company conducts LED packaging business mainly by relying on its majority-owned subsidiary NationStar Optoelectronics (stock code: 002449). The primary products include LED epitaxial wafers and chips, LED packaging and component products, integrated circuit packaging products, and third generation compound semiconductor packaging products, which are widely used for consumer electronics, home appliances, communications, display and landscape lighting, general lighting, automotive lighting, sterilization and purification, plant lighting, and other fields.

• 2. Business models

(1) Procurement model

The Company’s procurement department should ensure that the procured materials and products meet the prescribed requirements and that procurement activities are under control. Besides, it should consider the needs of each department and the reasonable stock quantity before carrying out any procurement, determine suppliers by means of bidding, price negotiation, and price comparison. There should be several backup suppliers of each principal raw material to ensure fair procurement price, timely material supply, and reliable quality.

• (2) Production model For routine products, the monthly production plan is prepared based on the analysis of the sales of each month and changes in the future market demand and the safe stock benchmark. Each production department produces products as planned so as to control the stock and meet the sales demand. For customized products, the make-to-order strategy is implemented to effectively control the stock quantity of raw materials, reduce the funds that are tied up, and improve the Company’s operational efficiency.
• (3) Sales model In the Company’s general lighting business, for domestic sales, the Company adopts the model of agency distribution and direct supply to engineering projects, with current sales mainly in household, commerce, and ecommerce channels. For foreign sales, the Company adopts the models of OEM and independent brands. The sale of products of independent brands abroad is carried out mainly via agencies.

In the automotive lighting business, in the factory-installed market, the model of supplying automotive light products directly to OEMs is mainly adopted; in the aftermarket, products are mainly sold by agencies.

In the LED packaging business, the direct sale model is mainly adopted, in which products are sold through direct communication with clients.

3. Industry overview

(1) Lighting During the Reporting Period, the lighting industry underwent a phase characterized by “overall pressure, structural differentiation and deep adjustment”. On the demand side, domestic market demand faced headwinds affected by the macroeconomic environment and the sustained adjustment of the real estate sector. Overseas market demand remained generally stable, with growing demand in emerging markets including the Middle East, Africa and Russia. Nevertheless, dragged by industrial chain relocation and spillover effects, China’s total exports of lighting products dropped by approximately 7% year-on-year in the first half of the year. On the cost side, prices of raw materials such as non-ferrous metals, electronic components and plastic parts surged

substantially, pushing up manufacturers’ production costs markedly. Meanwhile, the rapid appreciation of the RMB further squeezed profit margins for export-oriented enterprises. Dual pressures from home and abroad have accelerated survival-of-the-fittest consolidation within the industry. Small and medium-sized enterprises confronted survival risks amid shrinking orders and elevated costs, while market concentration continued to rise amid industry hardships.

Despite overall industry pressures, multiple specialized market segments maintained a sound development momentum. Benefiting from alignment with the digital, health-oriented and personalized consumption trends, as well as the in-depth integration of artificial intelligence, the Internet of Things, sensing and computing technologies, market segments including smart lighting and healthy lighting achieved steady growth. AIpowered functions such as adaptive dimming, human-centric lighting and intelligent scene matching have driven the upgrading of lighting products from simple passive illumination to active perception and intelligent optimization, greatly improving product added value and user experience. Driven by the dual-carbon goals, energy trusteeship and intelligent renovation projects for roads, tunnels and public buildings have also brought new market growth opportunities. These emerging segments have raised higher requirements for lighting products in terms of light quality, reliability, intelligent control and interdisciplinary integration capabilities.

The logic of industry long-term competition accelerated its shift from homogeneous competition in prices to differentiated competition in technology, ecosystems, and scenario-based solutions. Leading enterprises with advantages in brand, technology, and capital continuously extended their business boundaries by optimizing product structures, actively expanding into high-value-added fields, and continuously broadening application scenarios. Boasting greater operational resilience during industry restructuring, they are driving the industry into a new stage of high-quality development.

(2) Automotive lighting During the Reporting Period, affected by shifts in policy cycles, cautious consumer sentiment and macroeconomic conditions, China’s automobile output and sales volume reached 14.993 million units and 15.017 million units respectively, representing a year-on-year decline of 4.0% and 4.1%. Against this backdrop, driven by technological iteration and upgrading, rising per-vehicle lighting value and continuous optimization of product mix, automotive lighting offset the impact of fluctuations in vehicle output, and the market size of automotive lighting maintained sustained growth.

The automotive lighting industry is accelerating its technological upgrading, with intelligence, integration and scenario-oriented design emerging as core competitive edges. Matrix LED headlamps, adaptive driving beam (ADB) systems, laser headlamps, digital pixel (DPL) lamps, and smart lighting technologies deeply integrated with ADAS systems are gaining rapid adoption. Vehicle lighting is becoming increasingly interconnected with the Internet of Vehicles and human-machine interaction systems. Innovative features such as dynamic welcome lighting and interactive projection lamps are emerging continuously, transforming automotive lamps from traditional functional components into key enablers of vehicle intelligence and brand differentiation. Meanwhile, more than 600 new vehicle models were launched intensively in China in the first half of 2026. This trend has raised higher requirements for supporting automotive lighting manufacturers in terms of rapid R&D response, flexible production and delivery, and large-scale manufacturing capabilities, further forcing technological innovation and capacity upgrading across the industry.

While the automotive lighting market continues to expand, it also faces structural operational headwinds. Price declines at the vehicle retail end have been passed down the supply chain, subjecting automotive lighting products to annual price reduction pressure. Coupled with the adverse impact of rising raw material prices, the overall gross profit margin of the industry is under pressure. Meanwhile, domestic automotive lighting manufacturers have steadily increased their market share by virtue of their fast response, strong cost control capabilities and continuous technological accumulation. Leveraging their cost-performance advantages and technological progress, they have also actively explored overseas markets and participated in global competition, with their internationalization accelerating steadily.

(3) LED packaging During the Reporting Period, the LED packaging industry forged ahead amid a mix of challenges and opportunities. On the one hand, the industrial competitive landscape is undergoing accelerated restructuring. Buffeted by volatile external demand, rising prices of core raw materials and other factors, the industry has entered a phase of transitional adjustment marked by overall volume consolidation and margin pressure. Market consolidation and integration gather pace. Resources are increasingly concentrated among industry leaders with superior technological, scale and financial strengths, leading to a profound reshaping of the competitive structure. On the other hand, technological innovation continues to fuel application upgrades. The integration of LED technology with frontier technologies such as the Internet of Things, artificial intelligence and big data is deepening steadily, driving advancements toward more customized, scenario-based and user-centric solutions.

High-value-added segments, including automotive LEDs, UV LEDs and infrared sensing, are demonstrating steady growth. Continuous breakthroughs in Mini/Micro-LED technologies have accelerated the popularization of high-end applications including ultra-high-definition displays, automotive displays and virtual production, unlocking new market space. Meanwhile, demand in overseas emerging markets keeps rising. Industry players are actively expanding into overseas markets to foster new growth opportunities.

• 4. Main driving forces for growth The Company firmly implements its development strategy of “Upgrading the Fundamental Business into

New Forms and Scaling Up New Tracks”. It continues to strengthen innovation-driven development, optimize industrial layout, advance marketing model transformation, improve management efficiency, and vigorously explore market opportunities in market segments. The Company has built a collaborative development framework covering three core businesses: general lighting, automotive lighting and LED packaging. Meanwhile, the Company expands into new tracks including marine lighting, sports lighting and aviation lighting. Such diversified business portfolio provides stable support for the Company’s operating performance.

As the competitive landscape of the lighting industry evolves, market share is concentrating rapidly among leading enterprises. Consumers are paying growing attention to product quality and brand value, while small and medium-sized enterprises lacking sufficient competitiveness are gradually phased out. Leveraging its longaccumulated advantages in technology, brand, distribution channels and scale, the Company holds a favorable position amid industry consolidation. On the R&D front, the Company keeps increasing R&D investment and deepens collaborative innovation through industry-university-research partnerships. It focuses on technological breakthroughs and product iteration in cutting-edge areas including smart and healthy lighting, aviation lighting, “AI+lighting”, ultra-high-definition displays and intelligent optoelectronics. The Company has successively launched innovative products such as a lineup of smart healthy lighting products, AI agents, AI light code products, MiP products and intelligent sensing products. These efforts drive technical upgrading and quality improvement of core products and continuously reinforce its technological moat. On the market front, the Company advances the operation of a multi-brand matrix to meet differentiated demands across diverse markets and customer tiers. It pursues coordinated development of online and offline channels as well as domestic and overseas businesses. While optimizing its domestic channel structure, the Company ramps up efforts to explore overseas markets, especially countries under the Belt and Road Initiative and emerging markets. Adhering to a customer-centric approach, it continuously optimizes its portfolio of products, integrated solutions and service

systems to strengthen market adaptability and brand presence. On the operation front, the Company steadily pushes forward production automation and digital transformation. Intelligent manufacturing and digital management systems effectively boost production efficiency and product quality. The Company further implements lean management, conducts refined cost control and optimizes supply chain management, comprehensively driving sustained improvements in operational efficiency and business performance.

• II Core Competitiveness Analysis The Company has been dedicated to the R&D, manufacturing and sale of lighting products since its

establishment. Through measures such as continuous investment in R&D and innovation, branding, channel development, as well as integration of the industrial chain, the core competitiveness of the Company has been further strengthened, which is mainly reflected in the following aspects:

R&D technical advantage

The Company has established a multi-dimensional qualification system represented by its status as a National Innovation Company, a National Intellectual Property Demonstration Enterprise, and a Guangdong Manufacturing Champion Demonstration Enterprise in LED bulbs and LED intelligent green luminaries. It has also been listed as one of the Top 100 Innovative Enterprises in Guangdong Province and one of the Top 100 Manufacturing Enterprises in Guangdong Province, underscoring its strong technological innovation capabilities and industry-leading position. The Company's testing center has extended its national CNAS accreditation, obtained the US ENERGY STAR Certification for downlight testing, and been accredited as a TÜV NORD third-party witnessed laboratory for automotive lighting testing. Its testing capabilities cover all dimensions including safety, performance, reliability, and EMC, enabling the issuance of authoritative testing reports with international recognition and mutual acceptance. The Company and its majority-owned subsidiaries have established 36 research and development platforms, including the “Guangdong Provincial Enterprise Technology Center”, “Guangdong Provincial Doctoral Workstation”, “Guangdong Provincial Science and Technology Expert Workstation”, “Postdoctoral Research Station (Branch Station)”, “Guangdong Provincial Engineering Technology Research and Development Center for Electric Light Sources”, and the “Guangdong Provincial Industrial Design Center”, forming a comprehensive innovation system that supports cutting-edge technology research and development as well as the commercialization of research findings. The Company has undertaken a number of national, provincial and ministerial-level scientific and technological projects, including a key sub-program under the National Key R&D Program “Marine Agriculture and Freshwater Fisheries

Technology Innovation” and Hainan Province “Land-Sea-Air” Technology Special Project, achieving continuous breakthroughs in core technologies. Leveraging its outstanding R&D strength and innovation capabilities, the Company has won prestigious scientific and technological awards such as the Second Prize of Science and Technology Progress Award from China National Light Industry Council. It has also pioneered systematic integration of the “circadian lighting” concept into light environment design. The Company actively explores the convergence of AI and lighting technology, with a focus on in-depth research of large AI models. It has successfully developed an AI-enabled full-scenario solution that combines AI-powered intelligent control, scenario-based spectral solutions, and dynamic light-and-shadow effects. By developing three key agents for human-machine interaction, light-and-shadow interaction, and healthy lighting spectra, the Company has laid the technical foundation for the real-world application of AI in the field of smart lighting, with the “Light Xiaoming” AI agent rolled out to form its agent framework. The Company has established a presence in optics, spectroscopy, electronics, IoT, and AI, and has developed systematic technological barriers with independent intellectual property, providing solid support for product innovation and industrial upgrading. As of the end of the Reporting Period, the Company and its majority-owned subsidiaries have been granted 3,096 valid patents and led or participated in formulating 272 standards at international, national, and industry levels. By actively integrating internal and external resources, the Company has collaborated in-depth with renowned universities and research institutes such as Wuhan University, University of Electronic Science and Technology of China, and Wuhan University of Technology in industry-university-research partnerships. This has led to significant technological breakthroughs and technological achievement transformations, spurring innovations in frontier technology fields, establishing efficient R&D talent development channels, and providing firm support for maintaining the Company’s technological leadership and ongoing product innovation. Liaowang Auto Lamp boasts a provincial enterprise technology center, a provincial R&D center, a Guangxi automotive lighting parts engineering technology research center, and the Nanning Innovation Consortium, forming a “one institute and three centers” R&D ecosystem. It focuses on tackling cutting-edge technologies such as the serialization of lens modules and interactive signal lights, with R&D strength continuously enhanced. As a National Innovation Company and a provincial-level specialized, refined, distinctive, innovative enterprise, Hule Electrical boasts industry-leading technologies independently developed for marine LED lighting and navigation signal lights. The recently launched HL-8×2M-24D series navigation (signal) light control system has obtained certification from Det Norske Veritas (DNV), a globally recognized certification and risk management organization. This

makes Hule Electrical the first DNV-certified navigation light control system supplier in China. NationStar Optoelectronics has created 15 research platforms at or above the provincial level, including the Postdoctoral Research Station, and the National- and local-joint Engineering Laboratory for Semiconductor Lighting Materials and Components. It has undertaken over 30 national research projects, such as the key national R&D programs, in addition to more than 100 provincial and municipal research projects. NationStar Optoelectronics, for its technological leadership in high-precision products, including MIP display devices, intelligent health detectors, optoelectronic coupling devices, and vehicle display devices, has been awarded the title of “Guangdong Provincial Manufacturing Individual Champion (Intelligent Optoelectronic Health Detectors and LED Devices for Ultra-High-Definition Displays)”. It has achieved multiple breakthroughs across specialized fields.

Brand advantage

As a China Time-Honored Brand with 68 years of deep cultivation in the lighting industry, the Company has built industry-leading core brand advantages by relying on its profound brand heritage and long-term strategic commitment, forming a key pillar supporting the steady development of the enterprise. Guided by the “Technology-FSL” strategy, the Company has pursued a development path focused on specialization and highend positioning, achieving an increasingly strong brand presence. By launching the brand IP “Light Xiaoming” and a series of cultural and creative content, as well as renewing its VI system, product packaging and retail stores, the Company has infused its time-honored brand with a vibrant contemporary character, presenting a youthful, technological and fashionable brand image. Leveraging mainstream media, including Xinhua News Agency and Southern Plus, together with new media platforms such as WeChat, Xiaohongshu and Douyin, the Company has rolled out featured columns, including “FSL Homeowner Stories” and “Your Lighting Advisor”. Through storytelling and scenario-based communication, it has continuously strengthened brand recognition in both professional and consumer markets, steadily advancing its transformation from an industry brand to a public-facing brand. After years of accumulation, FSL has become one of the most influential and popular industrial brands in China. Its profound brand heritage, extensive market recognition, and strong brand appeal have become the core support and enduring competitiveness for the steady growth of the Company’s market performance. Liaowang Auto Lamp strictly abides by the national industry standards when producing automotive lights of the “Liaowang” brand. It has been hailed as a high-quality supplier of related automobile enterprises several times. With over 40 years of expertise in the ship lighting sector, Hule Electrical has

established itself as a leading player in China’s ship lighting market. Its products are widely applied across various vessels and offshore engineering scenarios, enjoying high recognition within the industry. NationStar Optoelectronics actively participates in various important industry exhibitions and forums, and has earned high recognition both within and outside the industry through its profound professional background and active engagement. As a result, it has received honors such as “Brand Power” and “Top Ten LED Packaging Brands,” continually enhancing its professional image, brand awareness, and reputation.

Channel advantage

The Company has been sticking to the market strategy of deeply cultivating and refining channels. Over years of development and experience, the Company has been equipped with three major sales channels in domestic market (household, commerce, and e-commerce channels), forming a marketing network covering the whole country; in foreign market, the Company has made active steps to develop international market business, sold products to more than 120 countries and regions in North America, Europe, Southeast Asia, Africa and Oceania, and kept improving overseas sales channel. By virtue of its powerful and comprehensive sales channels, the Company has enabled its products to enter market rapidly, substantially enhancing its market development abilities and competitiveness. Liaowang Auto Lamp is a major manufacturer in the domestic automotive light industry. It has accumulated stable whole-automobile manufacturing clients and has been developing customers of medium- and high-end and new energy vehicle makers. Its client entities are increasingly diverse. Hule Electrical is one of the major manufacturers in the domestic ship lighting industry, and has established long-term and stable cooperative relationships with large domestic shipbuilding enterprises. NationStar Optoelectronics has an excellent client structure. It maintains long-term and stable partnerships with leading display manufacturers and internationally renowned home appliance enterprises. It has built a diversified high-end customer matrix covering smart home appliances, a full range of consumer electronics, network communications, and industrial control sectors. Also, its products have been showcased in many large events and high-end venues at home and abroad, which are widely recognized by end clients and the market.

Scale advantage

As one of the enterprises to first step into the industry of producing and selling lighting products, the Company forms a capability of mass manufacturing by years of experience accumulation. After years of continuous investment, the Company has greatly improved its production automation level. The large-scale and centralized production brings obvious economic benefits to the Company, which not only shows in manufacture

cost of products, but also shows in aspects such as raw material procurement and price negotiation. With manufacturing bases in Nanning, Liuzhou, Chongqing, Qingdao, and Suzhou, Liaowang Auto Lamp has an annual production capacity of more than 5 million sets of automotive lights. Hule Electrical is an important domestic manufacturer of ship lighting fixtures, having been deeply rooted in the industry for many years. It is one of the leading companies in the domestic ship lighting fixture industry. NationStar Optoelectronics began engaging in LED packaging in 1976. It is included in the first batch of enterprises that have produced LED products and the first Chinese enterprise to go public with LED packaging as its principal business. Besides, it is one of the largest LED manufacturers in China.

Advantage of an integrated LED industrial chain

The Company achieved full coverage of the LED industry chain by holding equity in NationStar Optoelectronics, including upstream LED chip manufacturing, midstream LED packaging, and downstream LED application products. Through independent investment and external mergers and acquisitions, the Company has expanded its industrial presence to automotive lighting, marine lighting, sports lighting, aviation lighting and other sectors, forming a vertically integrated industrial chain covering upstream to downstream and a horizontally diversified layout spanning general to professional applications. This has further enhanced the Company’s competitiveness and presence in the industry.

III Analysis of Principal Operations

• 1. Overview In the first half of 2026, the domestic and global macroeconomic environment remained complex and

challenging, while operating pressures across the industry continued to mount. On the one hand, affected by the global macroeconomic environment and the ongoing adjustment of the domestic real estate market, the overall market demand in the lighting industry was under pressure, and market competition became increasingly fierce. On the other hand, the prices of raw materials such as non-ferrous metals, electronic components, and plastic parts rose sharply, directly driving up manufacturing costs. Meanwhile, the appreciation of the RMB further squeezed the profit margins of export business. Facing pressures from both domestic and global factors, the Company remained focused on its core initiatives of “end-to-end lean management and value enhancement”, coordinated the implementation of “Lean Improvement 2.0” and “Profitability Assurance” initiatives, while prioritizing key tasks such as market expansion, technological innovation, and lean operations. It overcame

challenges, and steadily advanced all undertakings. These measures helped maintain stable revenue, but profit still declined significantly.

The Company's major operating results during the Reporting Period are detailed as follows:

(1) Market expansion driven by focused efforts and diversified deployment to strengthen the foundation and unlock growth potential

First, on the domestic market, focused efforts were made to improve quality and efficiency and drive incremental growth. The Company deepened its presence in offline channels. By refining offline service stations, establishing a multi-dimensional distribution network, expanding into underserved market areas, and carrying out marketing empowerment activities, the Company enhanced terminal sales and market service capabilities. It successfully developed relationships with multiple leading centralized procurement customers and design institutes, and secured multiple million-level commercial projects, achieving growth in revenue from domestic residential and commercial lighting businesses. Meanwhile, the Company expanded its reach across multiple online platforms. Leveraging content marketing, the development of best-selling products and product portfolio optimization, the Company achieved rapid growth in e-commerce revenue. Second, the overseas expansion drive secured existing business and developed new markets. While consolidating its market share in regions where it has established advantages and among key major customers, the Company intensified efforts to explore untapped and emerging overseas markets, achieving positive results. It successfully won bids for multiple overseas engineering projects, further strengthening its diversified overseas market footprint. Revenue from overseas lighting business increased year-on-year. Third, the “Auto Lamp Scaling Initiative” secured new projects and consolidated business scale. The Company adopted new technologies and new products to conduct targeted technical marketing, proactively aligned with demands of vehicle manufacturers, and continuously intensified efforts to develop new projects. It successfully secured 20 new projects for automotive lighting lamps and modules. The customer structure improved steadily, and revenue from the automotive lighting business remained generally stable. Fourth, the packaging device business enhanced value and explored new capabilities. Focusing on the expansion of both products and scenarios, the Company leveraged product iteration and upgrading and core performance breakthroughs to drive diversified scenario applications and new growth engines. Building on in-depth cooperation with leading enterprises in the security, display and home appliance industries, the Company rapidly scaled up high-value products including MiP products, highdefinition display panels and intelligent display and control modules. Market expansion for optocoupler

products and automotive LED products also accelerated. Fifth, the Company steadily advanced development in new tracks to foster growth momentum. For marine lighting, the Company won bids for microalgae carbon sequestration and cruise ship projects and became the first domestic enterprise to obtain the DNV Certificate for Navigation Light Control Systems. It also secured new customers among multiple shipbuilding companies. In sports lighting, the Company focused resources on pursuing stadium and major sports event projects and secured multiple new projects such as the Maoming Olympic Sports Fitness Center. In elderly-friendly lighting, supported by seven core technologies including fall detection and heart rate monitoring, two of its products were included in the national Catalogue of Promoted Elderly Products, and the Company was shortlisted in the brand supplier pools of several professional elderly care enterprises.

(2) Focused efforts on technological innovation to enhance core competitiveness

First, the commercialization of technological innovation results was enhanced. The Company optimized the allocation of innovation resources, deepened the integrated R&D-production-marketing collaboration mechanism, and aligned product iteration and upgrading with market demands. It developed new products in over 100 specifications, with the average product development cycle shortened year-on-year and R&D efficiency significantly improved. Furthermore, the Company secured 176 new patents and 10 new standards, and led or participated in the development of multiple international and national standards. The project “Key Technologies and Applications for Visual Environment and Circadian Health of Primary and Secondary School Students”, jointly developed by the Company, won the Second Prize of Science and Technology Progress Award from China National Light Industry Council. Its independently developed “intelligent and eco-friendly LED lamp” and “intelligent optoelectronic health detector” led to the recognition as a “2025 Guangdong Provincial Manufacturing Individual Champion”. Second, technological breakthroughs empowered development. Highlighting areas including aviation, age-friendly, intelligent lighting, ultra-high-definition display, and intelligent optoelectronics, the Company established joint innovation centers with COMAC and GAMECO, and launched a range of innovative products such as the “Light Xiaoming” AI agent, AI agefriendly sensor panel lamps, MiP display devices, and intelligent health sensing devices. Third, testing capabilities were elevated. The Company built a standardized EMC (Electromagnetic Compatibility) laboratory, extended CNAS accreditation, and obtained a number of globally recognized testing certifications such as US ENERGY STAR Certification for downlights and TÜV NORD Certification for automotive lighting. The lab's timeliness reached 99.62%, providing solid technical support for product quality control.

(3) Enhanced lean management to reduce costs, improve efficiency, and ensure profitability

To effectively mitigate the impact of rising raw material prices and RMB appreciation on overall profit margins, the Company focused on lean management of production and exchange rate risks and tapped cost reduction and efficiency improvement potential from multiple dimensions. First, it tightened control over raw material procurement, established a dynamic forecasting mechanism for prices of key raw materials, and formulated procurement and inventory plans in a scientific manner. It cut procurement costs via centralized purchasing, price-locked inventory and other measures to alleviate the adverse impact of higher raw material prices on operations. Second, the Company deepened lean management at the production side, pushed forward product design optimization and upgrades of automated equipment, imposed strict control over process losses and energy consumption, strengthened budget constraints on various expenses, and explored cost-saving opportunities across the whole value chain. Third, it intensified refined management of exchange rate risks, closely monitored exchange rate movements, and flexibly adopted hedging, foreign currency deposits and other risk-mitigation instruments to offset the effects of exchange rate fluctuations.

2. Year-on-year changes in key financial data

Unit: RMB

Material changes to the profit structure or sources of the Company in the Reporting Period:

□ Applicable  Not applicable No such changes in the Reporting Period.

3. Breakdown of Operating Revenue

Unit: RMB

4. Operating Division, Product Category, and Operating Segment Contributing over 10% of Operating Revenue or Operating Profit  Applicable □ Not applicable

Unit: RMB

Core business data of the prior period restated according to the changed statistical caliber for the Reporting Period:

□ Applicable  Not applicable

IV Analysis of Non-Core Businesses  Applicable □ Not applicable

Unit: RMB

V Analysis of Assets and Liabilities

1. Significant Changes in Asset Composition

Unit: RMB

2. Major Assets Overseas

□ Applicable  Not applicable

3. Assets and Liabilities at Fair Value  Applicable □ Not applicable

Unit: RMB

Details about other changes:

The purchased amount in the Reporting Period of other debt investments referred to the cash management (large-denomination certificates) by the Company with its own temporarily idle funds and idle raised funds, which was classified as financial assets at fair value through other comprehensive income. A total amount of RMB100,000,000.00 was purchased and a total amount of RMB110,000,000.00 was disposed of in the Reporting Period, and other changes were RMB3,834,740.85 of cumulative recognized interest. Significant changes to the measurement attributes of the major assets in the Reporting Period:

□ Yes  No

4. Restricted Asset Rights as at the Period-End

Unit: RMB

VI Investments Made

• 1. Total Investment Amount  Applicable □ Not applicable

• 2. Major Equity Investments Made in the Reporting Period

□ Applicable  Not applicable

• 3. Major Non-Equity Investments Ongoing in the Reporting Period  Applicable □ Not applicable

Unit: RMB

4. Financial Investments

• (1) Securities Investments  Applicable □ Not applicable

Unit: RMB

• (2) Investments in Derivative Financial Instruments  Applicable □ Not applicable

• 1) Derivative Investments for Hedging Purposes in the Reporting Period  Applicable □ Not applicable

Unit: USD’0,000

2) Derivative Investments for Speculative Purposes in the Reporting Period

□ Applicable  Not applicable No such cases during the Reporting Period.

• 5. Use of Raised Funds  Applicable □ Not applicable

(1) General Information about Use of Raised Funds  Applicable □ Not applicable

Unit: RMB’0,000

Description of the use of raised funds:

In November 2023, the Company raised RMB1,094.5518 million through a share issuance to specific investors. After deducting issuance expenses such as underwriting fees, sponsorship fees, audit fees, and legal fees totaling RMB6.1363 million, the actual net proceeds amounted to RMB1,088.4155 million. As of June 30, 2026, the Company had cumulatively utilized RMB373,205,100 of the raised funds, accounting for34.29% of the net proceeds.

2. Promised Use of Raised Funds  Applicable □ Not applicable

Unit: RMB’0,000

3. Re-purposed Raised Funds  Applicable  Not applicable

Unit: RMB’0,000

VII Sale of Major Assets and Equity Investments

• 1. Sale of Major Assets

□ Applicable  Not applicable No such cases during the Reporting Period.

• 2. Sale of Major Equity Investments

□ Applicable  Not applicable

VIII Major Subsidiaries  Applicable □ Not applicable Major fully/majority-owned subsidiaries and those minority-owned subsidiaries with an over 10% effect on the Company’s net profit:

Unit: RMB

Subsidiaries obtained or disposed in the Reporting Period:

□ Applicable  Not applicable Information about major majority- and minority-owned subsidiaries:

• 1. In a major asset restructuring in February 2022, the Company acquired a 21.32% interest in Foshan

NationStar Optoelectronics Co., Ltd. (NationStar) from Rising Holdings Group and its acting-in-concert party. Upon the conclusion of the transaction, the Company eventually holds a 21.48% interest in NationStar, and NationStar has become a majority-owned subsidiary of the Company. The Company has included NationStar in its consolidated financial statements since Q1 2022.

• 2. Nanning Liaowang Auto Lamp Co., Ltd. signed an equity agreement with its existing shareholders in July

• 2021, and acquired Liaowang Auto Lamp through equity acquisition and capital increase and share expansion. Upon the conclusion of the transaction, the Company eventually holds a 53.79% interest in Liaowang Auto Lamp, and Liaowang Auto Lamp has become a majority-owned subsidiary of the Company. The Company has included Liaowang Auto Lamp in its consolidated financial statements from the date when the Company obtained actual control of it. In February 2026, Liaowang Auto Lamp launched its Employee Stock Ownership Plan (ESOP). Liaowang Auto Lamp subscribed for an additional 263,843 shares by way of capital contribution to the specialpurpose entity serving as the ESOP holding platform. Upon completion of such capital increase, the Company’s shareholding percentage in Liaowang Auto Lamp was adjusted to 53.39%.

• 3. FSL Chanchang Optoelectronics Co., Ltd. (renamed on June 19, 2018 from “Foshan Chanchang Electric

Appliances (Gaoming) Co., Ltd.”), which is a Sino-foreign joint venture invested and established by the Company and Prosperity Lamps and Components Ltd, had obtained license for business corporation on August 23, 2005 through approval by Foreign Trade and Economic Cooperation Bureau of Gaoming District, Foshan with document “MWMY Zi [2005] No. 79”. The Company holds 70% equities of the said company; therefore the said subsidiary was included into the scope of the consolidated financial statements since the date of foundation. On August 23, 2016, the Company and Prosperity Lamps and Components Ltd signed the equity transfer agreement. The Company purchased 30% equity of Foshan Chanchang Electric Appliances (Gaoming) Co., Ltd. held by Prosperity Lamps and Components Ltd. After the purchasing, the Company held 100% equity of FSL Chanchang Optoelectronics Co., Ltd.

• 4. FSL Zhida Electric Technology Co., Ltd. was jointly funded and established by the Company, Foshan

Zhibida Enterprise Management Co., Ltd. and Dongguan Baida Semiconductor Materials Co., Ltd., and obtained its business license on October 21, 2016. On January 16, 2023, FSL Zhida adjusted its registered capital based on fully paid-in capital stock. Following the completion of this adjustment, the Company holds a 66.84% equity

interest in FSL Zhida. The Company has incorporated FSL Zhida into the scope of its consolidated financial statements starting from its date of incorporation.

• 5. Foshan Fozhao Zhicheng Technology Co., Ltd. (formerly FSL Lighting Equipment Co., Ltd., renamed to

the current name on December 12, 2022) is a limited liability company invested and established by the Company with a registered capital of RMB15 million. It obtained its business license on May 8, 2013. The Company holds a 100% equity interest therein, and this subsidiary has been included in the scope of the Company’s consolidated financial statements commencing from its date of incorporation.

IX Structured Bodies Controlled by the Company

□ Applicable  Not applicable

X Risks Facing the Company and Countermeasures

1. Risks of macro economic fluctuations and fiercer market competition

Current domestic and international macroeconomic conditions face multiple uncertainties. Domestic economic growth is slowing, while rising trade protectionism abroad, along with frequent tariff barriers and technical trade measures, may adversely impact the development of the lighting industry. Particularly, as the lighting industry has entered a phase of stock competition, slowing market growth coupled with fierce competition could continue to put pressure on corporate profit margins.

Countermeasures: The Company will adhere to the set strategies, spend greater effort in developing new products, constantly refine the business portfolio, and actively explore segment markets such as intelligent lighting, healthy lighting, ocean lighting, sports lighting. It will also accelerate the introduction of new manufacturing processes, technologies and products to the market for new competitive edges. At the same time, by optimizing marketing network and strengthening the business focus and expansion on domestic and foreign major customers, the Company will improve service quality, strengthen internal management, and increase core competitiveness constantly.

2. Risk of raw material price fluctuations

The main raw materials of the Company and its subsidiaries include chips, lamp beads, electronic components, aluminum substrates, plastic parts, metal materials, etc. The prices of the aforementioned raw materials are closely related to the prices of commodities such as metals and oil. Meanwhile, surging demand for AI computing power has driven up prices of relevant electronic components rapidly. Fluctuations in the aforesaid

raw material prices will exert an impact on the Company’s production costs. If the price of raw materials continues to rise in the future, it could adversely affect the Company’s production and operation.

Countermeasures: The Company will pay attention to market dynamics, collect industry information, analyze and pre-judge supply of main raw materials and price trends, so as to make excellent sourcing plans. By strengthening centralized procurement through negotiations, refining suppliers, perfecting supply chain management, optimizing product design, and promoting alternative materials, the Company is able to decrease procurement costs.

3. Risk of exchange rate fluctuations

The Company’s overseas sales account for approximately 20% of total revenue, and the corresponding sales proceeds are mainly settled in U.S. dollars. A sharp appreciation of the RMB may affect the pricing and competitiveness of the Company’s overseas sales, trigger higher exchange losses, and consequently exert an adverse impact on the Company’s net profit.

Countermeasures: By keeping abreast of and analyzing exchange rate policies and fluctuation trend of settlement currencies in time, intensifying settlement currency management, ,and carrying out foreign exchange hedging business when the timing is right, the Company can relatively lock in exchange rates and minimize the risks brought by exchange rate fluctuations.

1. Risk associated with the recoverability of accounts receivable Receivables grow along with the Company’s business. Customers who fail to repay loans timely or become

insolvent, due to changes in macroeconomic trends, market environments, and their business, will place the Company at the risk of non-performing receivables.

Countermeasures: In order to reduce the receivable collection risk, the Company can constantly optimize the receivable risk management system, categorize and manage customers, regularly assess customers’ credit profiles, and enhance customer risk assessment. Meanwhile, it can reinforce contract approval and management, double its effort to collect receivables, and incorporate the collection of receivables into the performance assessment system for business departments.

XI Implementation of Market Value Management Mechanism and Valuation Enhancement Plan Indicate whether the Company has established a market value management mechanism.

• □ Yes  No

• Indicate whether the Company has disclosed its valuation enhancement plan.
• □ Yes  No

XII Implementation of the Action Plan for “Dual Enhancement of Development Quality and Investor Returns” Indicate whether the Company has disclosed the Action Plan for “Dual Enhancement of Development Quality and Investor Returns”.

□ Yes  No

Part IV Governance, Environmental and Social Information

• I Change of Directors and Senior Management  Applicable □ Not applicable

• II Profit Distribution and Capitalization of Capital Reserves into Share Capital for the Reporting Period

□ Applicable  Not applicable The Company does not intend to distribute cash dividends, issue bonus shares, or capitalize capital reserves into share capital for the Reporting Period.

• III Equity Incentive Plans, Employee Stock Ownership Plans or Other Incentive Measures for Employees

□ Applicable  Not applicable No such cases during the Reporting Period.

• IV Environmental Information Disclosure Indicate whether the listed company or any of its major subsidiaries is included in the list of companies that are required by law to disclose environmental information.  Yes □ No

• V Social Responsibility The Company places a high value on corporate social responsibility and commitment. Adhering to the

“create the value of light” corporate mission, the Company vigorously performs its social responsibility and constantly enhances its protection for the interests of stakeholders in order to create a healthy and beautiful life of light for customers, create and improve the space for personal development for employees and help them achieve the value of life, and contribute to the sound and sustainable development of the society.

• 1. Protection of the rights and interests of our shareholders and creditors We continuously improve our corporate governance structure, regulate our operation and enhance our

management on information disclosure and investor relations. We treat all our investors fairly and justly, ensure their rights to know about, participate in and vote on the significant events of the Company, and safeguard the legal rights and interests of all our shareholders, especially our minority shareholders.

• 2. Protection of the rights and interests of our employees Considering employees the most valuable resource for our survival and development, we constantly

improve our employment system, improve the compensation packages for our employees and attach importance to talent cultivation so as to provide opportunities and space for the sustainable development of our employees as well as realize the common development of the employees and the Company. We also pay attention to the health of our employees, attach importance to production safety and labor protection, and improve the working and living conditions for our employees so as to formulate harmonious and stable labor relations.

• 3. Protection of the rights and interests of our customers and consumers We have been upholding the “Customer First” principle in our provision of quality products and services to

customers. We operate honestly and disallow any unfair trade practice against commercial ethics, market rules and the fair competition principle. We also improve our product quality and after-sales services and try to build a win-win relationship with our customers.

• 4. Protection of the rights and interests of our suppliers We respect and protect the legal rights and interests of our suppliers, carefully protect their secret and

proprietary information, encourage and push them to continuously improve the quality of their products and

services through creating an environment for open and fair competition among them so as to realize mutual benefits and mutual development of the suppliers and the Company.

• 5. Production safety, environmental protection and sustainable development The Company sees production safety, environmental protection and energy conservation as an important

part of its strategy of sustainable development. In strict compliance with applicable laws and regulations, the Company fully enforces accountability systems for environmental protection and work safety. It has obtained valid certifications for the full set of management systems including ISO 9001 Quality Management System, IATF 16949 Automotive Quality Management System, ISO 14001 Environmental Management System, ISO 45001 Occupational Health and Safety Management System and ISO 50001 Energy Management System. In 2018, the Company was recognized as one of the second batch of National Demonstration Green Factories certified by the Ministry of Industry and Information Technology of the People’s Republic of China.

• 6. Public relations and welfare The Company fully implements the social responsibility strategy. By carrying out a series of specific

actions and projects, it actively gives back to society and promotes sustainable development. The Company focuses on “industrial development for agriculture, technological benefits for agriculture, and green support for agriculture” as its main task. Through measures such as industrial assistance, paired assistance, and consumption assistance, the Company has upgraded from simple donations to systematic support. It is exploring new models for rural revitalization and contributing to the development of livable, business-friendly, and beautiful rural areas. During the Reporting Period, responding to the “6•30” initiative to support rural revitalization, the Company organized employee donations. It launched the “Love for Reading, Nurturing the Future” book donation campaign, making a targeted donation of books to Hengbi Primary School in Hengbi Town, Wuhua County, to help supplement rural educational resources. Through consumption assistance for industrial products, the Company purchased assistance products, converting its procurement into a practical effort to support rural revitalization, promoting the development of the green supply chain and increasing farmers’ incomes. Furthermore, the Company organized the 2026 voluntary blood donation event, successfully collecting over 35,000 milliliters of whole blood, demonstrating the volunteer spirit of “dedication, friendship, mutual assistance, and progress” through practical actions and spreading positive energy within society.

Part V Significant Events

I Commitments of the Company’s Actual Controller, Shareholders, Related Parties and Acquirers, as well as the Company Itself and other Entities Fulfilled in the Reporting Period or Ongoing at the Period-end

□ Applicable  Not applicable No such cases during the Reporting Period.

II Occupation of the Company’s Capital by the Controlling Shareholder or Its Related Parties for Non-Operating Purposes

□ Applicable  Not applicable No such cases during the Reporting Period.

III Irregularities in the Provision of Guarantees

□ Applicable  Not applicable No such cases during the Reporting Period.

IV Engagement and Disengagement of Independent Auditor Indicate whether the interim financial statements have been audited by an independent auditor.

□ Yes  No The interim financial statements are unaudited by an independent auditor.

V Explanations Given by the Board of Directors Regarding the Independent Auditor’s “Modified Opinion” on the Financial Statements of the Reporting Period

□ Applicable  Not applicable

VI Explanations Given by the Board of Directors Regarding the Independent Auditor's “Modified Opinion” on the Financial Statements of Last Year

□ Applicable  Not applicable

VII Insolvency and Reorganization

□ Applicable  Not applicable No such cases during the Reporting Period.

• VIII Legal Matters Material lawsuits and arbitrations:

□ Applicable  Not applicable No such cases in the Reporting Period. Other legal matters:  Applicable □ Not applicable

• IX Punishments and Rectifications

□ Applicable  Not applicable No such cases during the Reporting Period.

• X Credit Quality of the Company as well as Its Controlling Shareholder and Actual Controller  Applicable □ Not applicable During the Reporting Period, the Company and its controlling shareholder and actual controller were not involved in any unsatisfied court judgments, large-amount overdue liabilities or the like.
• XI Major Related-Party Transactions

1. Continuing Related-Party Transactions  Applicable □ Not applicable

2. Related-Party Transactions Regarding Purchase or Sales of Assets or Equity Interests

□ Applicable  Not applicable No such cases during the Reporting Period.

3. Related-Party Transactions Regarding Joint Investments in Third Parties  Applicable □ Not applicable

On December 23, 2025, the Company participated in the capital increase and share expansion project of Guangdong Embodied Intelligence Technology Co., Ltd. through public bidding. On February 4, 2026, the Company subscribed to the aforesaid capital increase with its own funds in the amount of RMB15 million. Following completion of the capital increase, the Company holds a 5% equity interest in Guangdong Embodied Intelligence Technology Co., Ltd.

• 4. Amounts Due to and from Related Parties  Applicable □ Not applicable Non-operating amounts due to and from related parties or not

□ Yes  No No such cases during the Reporting Period.

• 5. Transactions with Related Finance Companies  Applicable □ Not applicable Deposit business:

Loan business:

Credit or other financial business:

• 6. Transactions with Related Parties by Finance Company Controlled by the Company

□ Applicable  Not applicable

The Company has no controlled finance companies.

• 7. Other Major Related-Party Transactions  Applicable □ Not applicable Details of major infrastructure related-party transactions:

Index to the current announcement about the said related-party transaction disclosed:

XII Major Contracts and Execution thereof

1. Entrustment, Contracting and Leases

• (1) Entrustment  Applicable □ Not applicable Explanation of the entrustment:

On June 14, 2022, and June 30, 2022, the Company held the 32nd meeting of the 9th Board of Directors and the 2nd Extraordinary General Meeting of Shareholders of 2022, respectively. The meetings reviewed and approved the Proposal for the Public Bid of the Operation, Leasing and Property Management Services for Kelian Building, agreeing to publicly bid out the operation, leasing and property management services for Kelian Building, an investment property, to be outsourced to a third-party operator. The Company’s majority-owned subsidiary, Foshan Keliang New Energy Industry Technology Co., Ltd. (hereinafter referred to as “Foshan Kelian”), was authorized to manage this process. For more details, please refer to the Announcement on the Public Tender of Kelian Building Operation, Leasing and Property Management Services by the Majority-Owned Subsidiary disclosed on June 15, 2022, on the www.cninfo.com.cn. After the public bidding process, Guangdong Huajian Enterprise Group Co., Ltd. (hereinafter referred to as “Huajian Group”) was selected as the winning

bidder in October 2022. For more information, please refer to the Announcement on a Related-Party Transaction Due to a Call for Public Bids disclosed on October 11, 2022, on the www.cninfo.com.cn.In April 2023, Foshan Kelian signed the Kelian Building Operation and Leasing Service Contract with Huajian Group, entrusting Huajian Group with the operation and leasing of 70,340.04 square meters of property, including the industrial (R&D center) space in Building 1, commercial (service apartments), commercial (shops), and part of the underground parking lot. The operation and leasing service period is ten years, starting from January 1, 2025. Projects that resulted in profits or losses exceeding 10% of the Company’s total profit during the Reporting Period :

□ Applicable  Not applicable No such cases during the Reporting Period.

(2) Contracting

□ Applicable  Not applicable No such cases during the Reporting Period.

(3) Leases  Applicable □ Not applicable Notes to leases: The significant lease matters of the Company during the Reporting Period are as follows:

Leases with a greater-than-10% impact on the Company’s gross profit during the Reporting Period:

□ Applicable  Not applicable No such cases during the Reporting Period.

• 2. Major guarantees  Applicable □ Not applicable

Unit: RMB’0,000

Compound guarantees:

None. Other notes: As at June 30, 2026, guarantees between Liaowang Auto Lamp and its subsidiaries and collaterals are set out in “3. Other Information” under XVI in Part VIII of this Report.

3. Cash Entrusted for Wealth Management  Applicable □ Not applicable

Unit: RMB’0,000

Asset management conducted by financial institutions under entrustment of the Company as the sole client, or high-risk wealth management with low security or low liquidity:  Applicable □ Not applicable

Unit: RMB’0,000