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(R)111 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (INVESTMENTS)Tj /T1_0 1 Tf 0.064 Tc 0.07 Tw 0 -2.462 Td [(For)12.6 ( the)12.6 ( six)12.6 ( months)12.7 ( ended)12.6 ( 3)12.6 (0)12.6 ( June)12.6 ( 2)12.7 (0)12.6 (2)12.6 (6)12.6 (,)12.6 ( the)12.7 ( Group)12.6 ( did)12.6 ( not)12.6 ( hold)12.7 ( any)12.6 ( significant)39 ( )]TJ 0.041 Tc 0 -1.231 Td [(investment)12.4 ( and)12.4 ( has)12.4 ( not)12.4 ( executed)12.4 ( any)12.3 ( agreement)12.3 ( in)12.4 ( respect)12.4 ( of)12.4 ( material)12.4 ( acquisitions,)16 ( )]TJ 0.025 Tc 0.011 Tw 0 -1.231 Td (investments or capital asset and did not have any other future plans rel\ating to material )Tj 0.026 Tc 0.082 Tw 0 -1.231 Td [(acquisitions,)1 ( )0.5 (investments)1 ( )0.5 (or)1 ( )0.5 (capital)1 ( )0.5 (asset)1.1 ( )0.5 (up)1 ( )0.5 (to)1 ( )0.5 (the)1 ( )0.5 (date)1 ( )0.5 (of)1 ( )0.5 (this)1 ( )0.6 (results)1 ( )0.5 (announcement.)1 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(Nonetheless,)7 ( )0.5 (if)7.1 ( )0.5 (any)7 ( )0.5 (potential)7 ( )0.5 (investment)7 ( )0.5 (opportunity)7 ( )0.5 (arises)7 ( )0.5 (in)6.9 ( )0.6 (the)7 ( )0.5 (coming)7 ( )0.5 (future,)7 ( )0.5 (the)7 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.231 Td [(G)0.6 (r)0.5 (o)0.5 (u)0.6 (p)10 ( )0.5 (w)0.5 (i)0.6 (l)0.5 (l)10 ( )0.5 (p)0.6 (e)0.5 (r)0.6 (f)0.5 (o)0.6 (r)0.5 (m)10 ( )0.5 (f)0.6 (e)0.5 (a)0.6 (s)0.5 (i)0.5 (b)0.6 (i)0.5 (l)0.6 (i)0.5 (t)0.5 (y)10 ( )0.6 (s)0.5 (t)0.5 (u)0.6 (d)0.5 (i)0.6 (e)0.5 (s)10 ( )0.5 (a)0.6 (n)0.5 (d)10 ( )0.5 (p)0.6 (r)0.5 (e)0.6 (p)0.5 (a)0.6 (r)0.5 (e)10 ( )0.5 (i)0.6 (m)0.5 (p)0.5 (l)0.6 (e)0.5 (m)0.6 (e)0.5 (n)0.6 (t)0.5 (a)0.6 (t)0.5 (i)0.6 (o)0.5 (n)10 ( )0.5 (p)0.5 (l)0.6 (a)0.5 (n)0.6 (s)10 ( )0.5 (t)0.5 (o)10 ( )0.5 (c)0.6 (o)0.5 (n)0.5 (s)0.6 (i)0.5 (d)0.6 (e)0.5 (r)10 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (whether it is beneficial to the Group and the shareholders of the Compan\y as a whole.)Tj /T1_1 1 Tf 0 -2.462 Td (EXPOSURE TO FLUCTUATION IN EXCHANGE RATE)Tj /T1_0 1 Tf 0.062 Tc 0.07 Tw 0 -2.462 Td [(Foreign)12.2 ( currency)12.2 ( risk)12.2 ( primarily)12.2 ( arises)12.2 ( from)12.2 ( certain)12.2 ( significant)12.2 ( foreign)12.3 ( currency)37 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.231 Td [(deposits,)11 ( )0.5 (trade)11 ( )0.5 (receivables)11 ( )0.5 (and)11 ( )0.5 (trade)11 ( )0.5 (payables)11 ( )0.5 (denominated)11 ( )0.5 (in)11 ( )0.5 (United)11 ( )0.5 (States)11 ( )0.5 (dollars,)11 ( )]TJ 0.048 Tc 0.07 Tw 0 -1.231 Td [(H)0.5 (o)0.5 (n)0.5 (g)13 ( )0.5 (K)0.5 (o)0.5 (n)0.5 (g)13 ( )0.5 (d)0.6 (ol)0.6 (la)0.6 (r)0.5 (s)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (I)0.5 (n)0.5 (d)0.5 (i)0.5 (a)0.5 (n)13 ( )0.6 (r)0.5 (u)0.5 (p)0.5 (e)0.5 (e)0.5 (.)13 ( )0.5 (T)0.5 (h)0.5 (e)13 ( )0.5 (t)0.5 (r)0.5 (e)0.6 (a)0.5 (s)0.5 (u)0.5 (r)0.5 (y)13 ( )0.5 (m)0.5 (a)0.5 (n)0.5 (a)0.5 (g)0.5 (e)0.5 (m)0.5 (e)0.6 (nt)13 ( )0.6 (d)0.5 (e)0.5 (p)0.5 (a)0.5 (r)0.5 (t)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (t)0.5 (h)0.5 (e)23.1 ( )]TJ 0.043 Tc 0 -1.231 Td [(Group)12.8 ( closely)12.8 ( monitors)12.8 ( the)12.8 ( international)12.8 ( foreign)12.8 ( currency)12.9 ( market)12.8 ( on)12.8 ( the)12.8 ( change)12.9 ( of)18 ( )]TJ 0.047 Tc 0 -1.231 Td [(e)0.5 (xc)0.5 (h)0.5 (a)0.5 (ng)0.5 (e)13 ( r)0.5 (a)0.5 (te)0.5 (s)13 ( a)0.5 (n)0.5 (d)13 ( t)0.5 (a)0.5 (ke)0.5 (s)13 ( t)0.5 (h)0.5 (is)13 ( )0.5 (in)0.5 (to)13 ( )0.5 (c)0.5 (on)0.5 (si)0.5 (d)0.5 (er)0.5 (a)0.5 (t)0.5 (io)0.5 (n)12.9 ( )0.5 (w)0.5 (h)0.5 (en)13 ( )0.5 (de)0.5 (p)0.5 (os)0.5 (i)0.5 (ti)0.5 (ng)13 ( )0.5 (fo)0.5 (r)0.5 (e)0.5 (ig)0.5 (n)12.9 ( )0.5 (c)0.5 (ur)0.5 (r)0.5 (e)0.5 (nc)0.5 (y)22 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (deposits and borrowing loans.)Tj 0.031 Tc 0.077 Tw 0 -2.462 Td [(The)6 ( )0.5 (Group)6 ( )0.5 (has)6 ( )0.5 (transactional)6 ( )0.5 (currency)6 ( )0.5 (exposures)6 ( )0.5 (which)6.1 ( )0.5 (arise)6 ( )0.6 (from)6 ( )0.5 (sales)6 ( )0.5 (or)6 ( )0.5 (purchases)6 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (by operating units in currencies other than the units\222 functional cur\rencies.)Tj /T1_1 1 Tf 0 -2.462 Td (REVIEW OF INTERIM RESULTS ANNOUNCEMENT)Tj /T1_0 1 Tf 0.051 Tc 0.07 Tw 0 -2.462 Td [(The)12.1 ( audit)12.1 ( committee)12.1 ( of)12.1 ( the)12.2 ( Company)12 ( \(the)12.1 ( \223)]TJ /T1_1 1 Tf [(Audit)12.1 ( Committee)]TJ /T1_0 1 Tf [(\224\))12.1 ( has)12.1 ( reviewed)12.1 ( the)26.1 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.231 Td [(unaudited)6 ( )0.5 (interim)6.1 ( )0.5 (condensed)6 ( )0.5 (consolidated)6 ( )0.5 (financial)6 ( )0.5 (information)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (Group)6 ( )0.5 (for)6 ( )0.5 (the)6 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(six)3 ( )0.5 (months)3 ( )0.5 (ended)3 ( )0.5 (3)3 (0)3 ( )0.5 (June)3 ( )0.5 (2)3 (0)3 (2)3 (6)3 (.)3 ( )0.5 (The)3.1 ( )0.5 (Audit)3 ( )0.5 (Committee)3.1 ( )0.5 (has)3 ( )0.5 (not)3 ( )0.5 (expressed)3 ( )0.5 (any)3 ( )0.5 (dissent)3 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (concerning the financial information in this results announcement.)Tj ET endstreamendobj69 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 76 \226)Tj 0.029 Tc 0.079 Tw 13 0 0 13 56.6929 776.0055 Tm [(As)4 ( )0.5 (China)4 ( )0.5 (Datang)4 ( )0.6 (directly)4.1 ( held)4.1 ( )0.5 (approximately)4 ( )0.5 (7)4 (8)4 (.)4.1 (1)4 (7)4 (%,)4 ( )0.5 (and)4 ( )0.5 (through)4 ( )0.5 (its)4 ( )0.5 (wholl)]TJ -0.029 Tw (y-o)Tj [(wned)4 ( )]TJ 0.045 Tc 0.07 Tw 0 -1.231 Td [(subsidiary,)12.2 ( China)12.1 ( Datang)12.1 ( Group)12.2 ( Capital,)12.2 ( held)12.2 ( 0)12.2 (.)12.1 (7)12.2 (9)12.1 (%)12.2 ( of)12.1 ( the)12.2 ( issued)12.2 ( share)12.1 ( capital)12.2 ( of)20 ( )]TJ 0 -1.231 Td [(the)12.9 ( )0.5 (Company)13 ( as)12.9 ( at)13 ( the)12.9 ( da)0.5 (te)12.9 ( of)12.9 ( )0.5 (the)12.9 ( ag)0.5 (reemen)0.5 (t,)12.9 ( it)12.9 ( is)13 ( a)12.9 ( co)0.5 (ntrolling)12.9 ( )0.5 (shareh)0.5 (older)12.9 ( o)0.5 (f)12.9 ( the)20 ( )]TJ 0.043 Tc 0 -1.231 Td [(C)0.5 (o)0.5 (m)0.5 (pa)0.5 (n)0.5 (y)0.5 (.)13 ( )0.5 (A)0.5 (s)13 ( a)0.6 (t)12.9 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (da)0.5 (t)0.5 (e)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (th)0.5 (e)13 ( )0.5 (a)0.5 (g)0.5 (r)0.5 (e)0.5 (e)0.5 (m)0.5 (e)0.5 (nt)0.5 (,)13 ( )0.5 (D)0.5 (a)0.5 (t)0.5 (a)0.5 (n)0.5 (g)12.9 ( )0.5 (S)0.5 (h)0.5 (a)0.5 (a)0.5 (n)0.5 (x)0.5 (i)12.9 ( )0.5 (P)0.5 (o)0.5 (w)0.5 (e)0.5 (r)13 ( )0.5 (G)0.5 (e)0.5 (ne)0.5 (r)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)12.9 ( )0.5 (C)0.5 (o)0.5 (.)0.5 (,)18 ( )]TJ 0.025 Tc 0.047 Tw 0 -1.231 Td (Ltd.* \()Tj /C0_0 1 Tf 0.225 Tc -0.225 Tw 3.069 0 Td <027D086509EF04130CEF0F6503DE082202AE0321>Tj /T1_0 1 Tf 0.025 Tc 0.047 Tw 12.175 0 Td (\) \(\223)Tj /T1_1 1 Tf (Datang Shaanxi Power)Tj /T1_0 1 Tf (\224\) was a wholl)Tj -0.025 Tw (y-o)Tj (wned )Tj 0.09 Tc 0.07 Tw -15.244 -1.231 Td [(subsidiary)12.8 ( of)12.7 ( China)12.8 ( Datang)12.7 ( and)12.7 ( Datang)12.8 ( Yan\222an)12.8 ( Thermal)12.8 ( Power)12.7 ( Plant)12.8 ( was)12.7 ( a)65 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (wholl)Tj (y-o)Tj 0.057 Tw (wned branch of Datang Shaanxi Power. Datang Yan\222an Thermal Power Plan\t )Tj 0.046 Tc 0.07 Tw 0 -1.231 Td [(was)12.4 ( therefore)12.4 ( indirectly)12.3 ( wholl)]TJ -0.046 Tw (y-o)Tj 0.07 Tw [(wned)12.4 ( by)12.3 ( China)12.4 ( Datang.)12.4 ( Pursuant)12.4 ( to)12.4 ( Chapter)12.4 ( 1)12.3 (4)12.4 (A)21 ( )]TJ 0.025 Tc 0.079 Tw 0 -1.231 Td [(of )0.5 (the )0.6 (Listing )0.6 (Rules, )0.5 (Datang )0.6 (Yan\222an )0.5 (Thermal )0.6 (Power )0.5 (Plant )0.5 (was )0.6 (a )0.5 (connected )0.6 (person )0.5 (of )]TJ 0.044 Tc 0.07 Tw 0 -1.231 Td [(the)12.1 ( Company.)12.1 ( Accordingly,)12.1 ( the)12.1 ( disposal)12.1 ( constituted)12.1 ( a)12.1 ( connected)12.1 ( transaction)12.1 ( of)12.1 ( the)19.1 ( )]TJ 0.025 Tc 0.034 Tw 0 -1.231 Td (Company under the Listing Rules. For details, please refer to the announ\cement of the )Tj 0 Tw 0 -1.231 Td (Company dated 21 May 2026.)Tj /T1_1 1 Tf 0 -2.462 Td (Disposal of assets under Lvsi Project)Tj /T1_0 1 Tf 0.045 Tc 0.07 Tw 0 -2.462 Td [(On)12.3 ( 2)12.2 (6)12.2 ( June)12.2 ( 2)12.3 (0)12.2 (2)12.2 (6)12.2 (,)12.3 ( Water)12.3 ( Engineering)12.2 ( &)12.2 ( Technology)12.2 ( entered)12.2 ( into)12.2 ( the)12.2 ( asset)12.2 ( transfer)20 ( )]TJ 0.06 Tc 0 -1.231 Td [(agreement)12.8 ( as)12.8 ( vendor)12.9 ( with)12.8 ( Jiangsu)12.9 ( Datang)12.8 ( International)12.8 ( Jiangsu)12.8 ( Lvsigang)12.8 ( Power)35 ( )]TJ 0.038 Tc 0 -1.231 Td [(G)0.5 (e)0.5 (n)0.5 (e)0.5 (r)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (C)0.5 (o)0.5 (.)0.5 (,)13 ( )0.5 (L)0.5 (t)0.5 (d)0.5 (.)0.5 (*)13 ( )0.5 (\()]TJ /C0_0 1 Tf 0.273 Tc -0.273 Tw 10.479 0 Td <03EA163D027D08650A3710E70450032C0CA50CEF0F6503DE08220BAA038202AE0321>Tj /T1_0 1 Tf 0.025 Tc 0.083 Tw 21.518 0 Td [(\) )0.5 (\()-12.5 (\223)]TJ /T1_1 1 Tf 0.038 Tc -0.038 Tw 1.567 0 Td [(J)0.5 (i)0.5 (a)0.5 (n)0.5 (g)0.5 (s)0.5 (u)13 ( )]TJ 0.082 Tc 0.07 Tw -33.564 -1.231 Td [(Lvsigang)12.6 ( Power)12.7 ( Generation)]TJ /T1_0 1 Tf [(\224\))12.7 ( as)12.7 ( purchaser.)12.7 ( According)12.7 ( to)12.7 ( the)12.7 ( asset)12.7 ( transfer)57 ( )]TJ 0.049 Tc 0 -1.231 Td [(agreement,)12.1 ( Water)12 ( Engineering)12 ( &)12.1 ( Technology)12.1 ( has)12.1 ( conditionally)12 ( agreed)12.1 ( to)12.1 ( sell)12.1 ( and)24 ( )]TJ 0.05 Tc 0 -1.231 Td [(Jiangsu)12.6 ( Lvsigang)12.6 ( Power)12.6 ( Generation)12.6 ( has)12.6 ( conditionally)12.6 ( agreed)12.6 ( to)12.6 ( acquire)12.6 ( all)12.5 ( assets)25 ( )]TJ 0.024 Tc 0 Tw 0 -1.231 Td (owned by Water Engineering & Technology under the Lvsi Lon)Tj -0.024 Tw (g-t)Tj 0 Tw [(erm Contract Energy)-1 ( )]TJ 0.025 Tc 0.052 Tw 0 -1.231 Td (Management Project* \()Tj /C0_0 1 Tf 0.225 Tc -0.225 Tw 10.141 0 Td <0450032C10C30C8203A5039D09900E55104D0B230DB00366>Tj /T1_0 1 Tf 0.025 Tc 0.052 Tw 14.625 0 Td (\) of Jiangsu Lvsigang Power )Tj 0 Tw -24.766 -1.231 Td (Generation \(\223)Tj /T1_1 1 Tf (Lvsi Project)Tj /T1_0 1 Tf (\224\) at a consideration of RMB76,528,456.74 \(tax inclusive\).)Tj 0.029 Tc 0.079 Tw 0 -2.462 Td [(As)4 ( )0.5 (China)4 ( )0.5 (Datang)4 ( )0.6 (directly)4.1 ( held)4.1 ( )0.5 (approximately)4 ( )0.5 (7)4 (8)4 (.)4.1 (1)4 (7)4 (%,)4 ( )0.5 (and)4 ( )0.5 (through)4 ( )0.5 (its)4 ( )0.5 (wholl)]TJ -0.029 Tw (y-o)Tj [(wned)4 ( )]TJ 0.045 Tc 0.07 Tw 0 -1.231 Td [(subsidiary,)12.2 ( China)12.1 ( Datang)12.1 ( Group)12.2 ( Capital,)12.2 ( held)12.2 ( 0)12.2 (.)12.1 (7)12.2 (9)12.1 (%)12.2 ( of)12.1 ( the)12.2 ( issued)12.2 ( share)12.1 ( capital)12.2 ( of)20 ( )]TJ 0 -1.231 Td [(the)12.9 ( )0.5 (Company)13 ( as)12.9 ( at)13 ( the)12.9 ( da)0.5 (te)12.9 ( of)12.9 ( )0.5 (the)12.9 ( ag)0.5 (reemen)0.5 (t,)12.9 ( it)12.9 ( is)13 ( a)12.9 ( co)0.5 (ntrolling)12.9 ( )0.5 (shareh)0.5 (older)12.9 ( o)0.5 (f)12.9 ( the)20 ( )]TJ 0.025 Tc 0.017 Tw 0 -1.231 Td (Company. As at the date of the agreement, \(i\) Jiangsu Lvsigang Power G\eneration was )Tj 0.029 Tw 0 -1.231 Td (owned as to 55% by Datang International Power Generation Co., Ltd.* \()Tj /C0_0 1 Tf 0.225 Tc -0.225 Tw 31.168 0 Td <027D08650A3710E70CEF>Tj -31.168 -1.231 Td <0F650670038503DE082202AE0321>Tj /T1_0 1 Tf 0.025 Tc 0.02 Tw 8.5 0 Td (\) \(\223)Tj /T1_1 1 Tf (Datang International Power)Tj /T1_0 1 Tf (\224\), 35% by Datang Jiangsu Power )Tj 0.028 Tc 0.08 Tw -8.5 -1.231 Td [(Generation)3 ( )0.5 (Co.,)3 ( )0.5 (Ltd.*)3 ( )0.5 (\()]TJ /C0_0 1 Tf 0.225 Tc -0.225 Tw 10.33 0 Td <027D086503EA163D0CEF0F6503DE082202AE0321>Tj /T1_0 1 Tf 0.025 Tc 0.083 Tw 12.175 0 Td [(\) )0.5 (\()-3.2 (\223)]TJ /T1_1 1 Tf 0.028 Tc 0.08 Tw 1.549 0 Td [(Datang)3 ( )0.5 (Jiangsu)3 ( )0.5 (Power)]TJ /T1_0 1 Tf [(\224\))3 ( )0.5 (and)2.9 ( )]TJ 0.025 Tc 0.036 Tw -24.054 -1.231 Td (10% by an independent third party; \(ii\) Datang International Power was\ in turn owned )Tj 0.067 Tw 0 -1.231 Td (as to 35.34% by China Datang; and \(iii\) Datang Jiangsu Power was wholl\)Tj -0.025 Tw (y-o)Tj 0.067 Tw (wned by )Tj 0.055 Tw 0 -1.231 Td (China Datang. Pursuant to Chapter 14A of the Listing Rules, Jiangsu Lvsi\gang Power )Tj 0.025 Tw 0 -1.231 Td (Generation was an associate of China Datang and a connected person of th\e Company. )Tj 0.033 Tc 0.075 Tw 0 -1.231 Td [(Accordingly,)8 ( )0.5 (the)8 ( )0.5 (disposal)8 ( )0.5 (constituted)8 ( )0.5 (a)8 ( )0.5 (connected)8 ( )0.5 (transaction)8 ( )0.5 (of)8 ( )0.5 (the)8 ( )0.5 (Company)8 ( )0.5 (under)8 ( )]TJ 0.025 Tc 0.043 Tw 0 -1.231 Td (the Listing Rules. For details, please refer to the announcement of the \Company dated )Tj 0 Tw 0 -1.231 Td (26 June 2026.)Tj ET endstreamendobj68 0 obj<>endobj79 0 obj[80 0 R]endobj80 0 obj<>endobj81 0 obj<>endobj82 0 obj<>endobj83 0 obj<>stream HR1n0 < -[WB!c>i,Q`ЧrƮtźvٟ) )wKryf||W̠_7g MXɃ[bJ%R9 G389BfچVۜDFփHlNIs㢺b IX1<ţR1RgSnkons#J4O endstreamendobj84 0 obj<>stream HlSkTSWMͽB+$_(TTE*)h*JK @@B!$GB{{`! &I **N t\1ITL4\n Չ~ʧr-d0]L1|wb4,4:wy IhV"MOo`$4%5d"[&*;)̓lNOľaʎrek~筓HeI;6+P8yv6~2hf0n3w q~0"E%Rvd9 א ]zN4 MCeh9zBkP-jA7z}>CaX| ˛jfFXYfX[rBL`b<OkgٮrU8.b1$pBFde]WSgv9sv1qmJNcX8~W*n4xUV^?ow&r79B~pp r9iN:u9yssAg11?77Ca|9$Ƽy}o|WMz>273QƨOK#֞uoL3~$iCfQw/wDnǽ[»E:)=]6LNS/_q t? |#..Zx_!I'T/[Vք3+VW[͗>>x{xm~>Ouu-6OzɸadOtoA\/PCF^\)x۵Jǯ^vMKr.Ld38RRn& ΀eƖF UjU"Ȅ-0 aRj5$E;S h LtG¨49 A hˋʔ BE. 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Xkp`4?p6_||d3jL73AgyeGrVt7j *8L)YNX;ǺJmvXre !36.a#g rtcart#F \RpMm@rp rקӭ〔srN[rGQd{.)Lx =l*t{>atZ1z/`6&fm̥Eb^[VH4j?F1ӕcr)Mj|DTk_|ivPV)N0Nr;m`J+\&Qw.J\Ԃ+?4B-z W+XJ`CG1Q,uwΓz@l1ɝir撏Ab)9 ze':*=_e/0HS_ǧv<D+eG7%ѭJ!)W2 3 "  œ#"3C<"&i^ozJ_̉%:(rUF> "{JH9@ޚzhkm5 }1V//oU'{T=I x/@pfBs/ùSh.@:Ю*''zwUp G+ ([M@U5^WU٨pfZw/FRN2EJb9,os4]%RRFJnͫ^x}ÌJT+ÛD'±̫:(TK`q,V[fdfY)=ju4Q}W"e}FDmGžӴf^Wٟ, Iy".qyiv22kf+ endstreamendobj67 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 75 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm (MATERIAL ACQUISITIONS AND DISPOSALS)Tj /T1_0 1 Tf 0.029 Tc 0.079 Tw 0 -2.462 Td [(Saved)4 ( )0.5 (as)4 ( )0.5 (disclosed)4 ( )0.5 (below,)4 ( )0.5 (for)4 ( )]TJ 13.359 0 Td [(the)4 ( )0.5 (six)4 ( )0.5 (months)4 ( )0.5 (ended)4 ( )0.5 (3)4 (0)4 ( )0.5 (June)4 ( )0.5 (2)4 (0)4 (2)4 (6)4 (,)4 ( )0.5 (the)4 ( )0.5 (Group)4 ( )0.5 (had)4 ( )0.5 (no)]TJ 0 Tc 0 Tw 23.735 0 Td ( )Tj 0.025 Tc -0.025 Tw -37.093 -1.231 Td (other)Tj 0 Tw ( material acquisition or disposal.)Tj /T1_1 1 Tf 0 -2.462 Td (Acquisition of assets located at Datang Sige Wind Farm)Tj /T1_0 1 Tf 0.073 Tc 0.07 Tw 0 -2.462 Td [(On)12.5 ( 1)12.5 ( April)12.5 ( 2)12.5 (0)12.6 (2)12.5 (6)12.6 (,)12.5 ( the)12.6 ( Company,)12.6 ( as)12.5 ( a)12.6 ( purchaser,)12.5 ( entered)12.6 ( into)12.5 ( the)12.5 ( asset)12.6 ( transfer)48 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(agreement)5 ( )0.5 (with)5 ( )0.5 (Guangxi)5 ( )0.5 (Guiguan)5 ( )0.5 (Electric)5 ( )0.5 (Power)5.1 ( )0.5 (Co.,)5 ( )0.5 (Ltd.)5 ( )0.5 (Panzhou)5 ( )0.5 (Branch)5 ( )0.5 (*)5 ( )0.5 (\()]TJ /C0_0 1 Tf 0.225 Tc -0.225 Tw 34.843 0 Td <113F0413>Tj 0.289 Tc -0.289 Tw -34.843 -1.231 Td [<08ED06BF0F6502620670038503DE082202AE032111B503C8033902B102AE0321>184.6 <0081>]TJ /T1_0 1 Tf 0.038 Tc -0.038 Tw 21.084 0 Td [(\()0.5 (\223)]TJ /T1_1 1 Tf 0.07 Tw 0.852 0 Td [(G)0.5 (u)0.5 (i)0.5 (g)0.5 (u)0.5 (a)0.5 (n)13 ( )0.5 (P)0.5 (a)0.5 (n)0.5 (z)0.5 (ho)0.6 (u)]TJ /T1_0 1 Tf 8.317 0 Td [(\224)0.5 (\))0.5 (,)13 ( )0.5 (a)0.5 (s)13 ( )0.5 (a)13 ( )0.5 (v)0.5 (e)0.5 (n)0.5 (d)0.5 (o)0.5 (r)0.5 (.)13 ( )]TJ 0.025 Tc 0.072 Tw -30.253 -1.231 Td (According to the asset transfer agreement, Guiguan Panzhou has condition\ally agreed )Tj 0.023 Tc 0 Tw 0 -1.231 Td [(to sell and the Company has conditionally agreed to acquire scrapped ass\ets comprising)-2 ( )]TJ 0.025 Tc 0.024 Tw 0 -1.231 Td (38 wind turbines and ancillary equipment located at Datang Sige Wind Far\m \()Tj /C0_0 1 Tf 0.225 Tc -0.225 Tw 33.618 0 Td <027D0865032C>Tj -33.618 -1.231 Td <08F8082C0F650C19>Tj /T1_0 1 Tf 0.025 Tc 0 Tw 4.825 0 Td (\) owned by Guangxi Panzhou, at a consideration of RMB24,574,073.17.)Tj 0.035 Tc 0.073 Tw -4.825 -2.462 Td [(As)10 ( )0.5 (China)10 ( )0.5 (Datang)10 ( )0.5 (Corporation)9.9 ( )0.5 (Ltd.)10 ( )0.5 (\()]TJ /C0_0 1 Tf 0.225 Tc -0.225 Tw 16.062 0 Td <02950A37027D08650DAB0FA003DE082202AE>Tj 0 Tc 0 Tw <0321>Tj /T1_0 1 Tf 0.025 Tc 0.083 Tw 12.175 0 Td [(\) )0.5 (\()-10.1 (\223)]TJ /T1_1 1 Tf 0.035 Tc 0.073 Tw 1.563 0 Td [(China)10 ( )0.5 (Datang)]TJ /T1_0 1 Tf 0.025 Tc -0.025 Tw [(\224)-10.1 (\) )]TJ 0.027 Tc 0.081 Tw -29.8 -1.231 Td [(directly)2 ( )0.5 (held)2 ( )0.5 (approximately)2 ( 7)2 (8)2 (.)2 (1)2 (7)2 (%,)2 ( )0.5 (and)2 ( )0.5 (through)2 ( )0.5 (its)2 ( )0.5 (wholl)]TJ -0.027 Tw (y-o)Tj 0.081 Tw [(wned)2 ( )0.5 (subsidiary,)2 ( )0.5 (China)2 ( )]TJ 0.038 Tc 0.07 Tw 0 -1.231 Td [(D)0.5 (a)0.5 (t)0.5 (a)0.5 (n)0.5 (g)13 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)13 ( )0.5 (C)0.5 (a)0.5 (p)0.5 (i)0.5 (t)0.5 (a)0.5 (l)13 ( )0.5 (H)0.5 (o)0.5 (l)0.5 (d)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (C)0.5 (o)0.5 (.)0.5 (,)13 ( )0.5 (L)0.5 (t)0.5 (d)0.5 (.)0.5 (*)13 ( )0.5 (\()]TJ /C0_0 1 Tf 0.402 Tc -0.402 Tw 19.244 0 Td <02950A37>Tj 0 Tc 0 Tw <027D>Tj 0.402 Tc -0.402 Tw 4.206 0 Td <08650DAB0FA00F1F03490A9B067003DE082202AE>Tj 1.03 Tc -1.03 Tw -23.45 -1.231 Td <03210081>Tj /T1_0 1 Tf 0.042 Tc -0.042 Tw 2.685 0 Td (\(\223)Tj /T1_1 1 Tf 0.07 Tw [(China)12.1 ( Datang)12.1 ( Group)12.1 ( Capital)]TJ /T1_0 1 Tf [(\224\),)12.1 ( held)12.1 ( 0)12.1 (.)12.1 (7)12.1 (9)12.1 (%)12.1 ( of)12.1 ( the)12.1 ( issued)12.1 ( share)12.1 ( capital)12 ( of)17 ( )]TJ 0.045 Tc -2.685 -1.231 Td [(the)12.9 ( )0.5 (Company)13 ( as)12.9 ( a)0.5 (t)12.9 ( the)12.9 ( da)0.5 (te)12.9 ( of)12.9 ( )0.5 (the)12.9 ( ag)0.5 (reemen)0.5 (t,)12.9 ( it)12.9 ( is)13 ( a)12.9 ( co)0.5 (ntrolling)12.9 ( )0.5 (shareh)0.5 (older)12.9 ( o)0.5 (f)12.9 ( the)20 ( )]TJ 0.025 Tc 0.047 Tw 0 -1.231 Td [(Company. 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For detail\s, please refer )Tj 0 Tw 0 -1.231 Td (to the announcement of the Company dated 1 April 2026.)Tj /T1_1 1 Tf 0.029 Tw 0 -2.462 Td (Disposal of assets under the project located at the Datang Yan\222an The\rmal Power )Tj -0.025 Tw 0 -1.231 Td (Plant)Tj /T1_0 1 Tf 0.066 Tc 0.07 Tw 0 -2.462 Td [(On)12.5 ( 2)12.5 (1)12.4 ( May)12.5 ( 2)12.5 (0)12.5 (2)12.5 (6)12.4 (,)12.5 ( Datang)12.5 ( \(Beijing\))12.5 ( Water)12.5 ( Engineering)12.5 ( &)12.5 ( Technology)12.4 ( Co.,)12.5 ( Ltd.)41 ( )]TJ 0.038 Tc 0 -1.231 Td [(Y)0.5 (a)0.5 (n)0.5 (\222)0.5 (a)0.5 (n)13 ( )0.5 (B)0.5 (r)0.5 (a)0.5 (n)0.5 (c)0.5 (h)0.5 (*)13 ( )0.5 (\()]TJ /C0_0 1 Tf 0 Tc 0 Tw 7.991 0 Td <027D>Tj -0.395 Tc 0.395 Tw 1.257 0 Td <08650080>Tj 0 Tc 0 Tw 1.67 0 Td <030F>Tj 0.065 Tc -0.065 Tw 1.257 0 Td <052F0081>Tj 0 Tc 0 Tw 1.71 0 Td <02E5>Tj 0.257 Tc -0.257 Tw 1.257 0 Td <0A1502880CFB04A60B9403DE082202AE032105B703C402B102AE0321>Tj /T1_0 1 Tf 0.025 Tc 0.083 Tw 17.489 0 Td [(\) )0.5 (\()-12.5 (\223)]TJ /T1_1 1 Tf 0.038 Tc -0.038 Tw 1.567 0 Td [(W)0.5 (a)0.5 (t)0.5 (e)0.5 (r)13 ( )]TJ 0.087 Tc 0.07 Tw -34.197 -1.231 Td [(En)0.5 (gin)0.5 (eer)0.5 (ing)13 ( &)12.9 ( )0.5 (Tec)0.5 (hno)0.5 (logy)13 ( Ya)0.5 (n\222a)0.5 (n)12.9 ( B)0.5 (ran)0.5 (ch)]TJ /T1_0 1 Tf [(\224)0.5 (\))12.9 ( )0.5 (,)12.9 ( a)13 ( br)0.5 (anc)0.5 (h)12.9 ( of)13 ( th)0.5 (e)12.9 ( C)0.5 (omp)0.5 (any)0.5 (\222s)62 ( )]TJ 0.076 Tc -0.076 Tw 0 -1.231 Td (wholl)Tj (y-o)Tj 0.07 Tw [(wned)12.6 ( subsidiary,)12.5 ( Datang)12.6 ( \(Beijing\))12.6 ( Water)12.6 ( Engineering)12.5 ( &)12.5 ( Technology)51 ( )]TJ 0.038 Tc 0 -1.231 Td [(C)0.5 (o)0.5 (.)0.5 (,)13 ( )0.5 (L)0.5 (t)0.5 (d)0.5 (.)0.5 (*)13 ( )0.5 (\()]TJ /C0_0 1 Tf 0.376 Tc -0.376 Tw 5.316 0 Td [<027D0865>771 <0080>161.8 <030F052F>161.8 <0081>581.8 <02E50A1502880CFB04A60B9403DE082202AE0321>]TJ /T1_0 1 Tf 0.025 Tc 0.083 Tw 20.118 0 Td [(\) )0.5 (\()-12.5 (\223)]TJ /T1_1 1 Tf 0.038 Tc 0.07 Tw 1.567 0 Td [(W)0.5 (a)0.5 (t)0.5 (e)0.5 (r)13 ( )0.5 (E)0.5 (n)0.5 (g)0.5 (i)0.5 (n)0.5 (e)0.5 (e)0.5 (r)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (&)13 ( )]TJ 0.064 Tc -0.064 Tw -27.002 -1.231 Td (Technology)Tj /T1_0 1 Tf 0.07 Tw [(\224\),)12.2 ( entered)12.2 ( into)12.2 ( an)12.2 ( asset)12.1 ( transfer)12.2 ( agreement)12.1 ( as)12.1 ( vendor,)12.2 ( with)12.2 ( Datang)39 ( )]TJ 0.025 Tc 0.074 Tw 0 -1.231 Td (Shaanxi Power Generation Co., Ltd. Yan\222an Thermal Power Plant* \()Tj /C0_0 1 Tf 0.225 Tc -0.225 Tw 29.943 0 Td <027D086509EF04130CEF0F65>Tj -29.943 -1.231 Td <03DE082202AE032105B703C411A00F651140>Tj /T1_0 1 Tf 0.025 Tc 0.024 Tw 10.95 0 Td (\) \(\223)Tj /T1_1 1 Tf (Datang Yan\222an Thermal Power Plant)Tj /T1_0 1 Tf (\224\), as a purchaser. )Tj 0.03 Tc 0.078 Tw -10.95 -1.231 Td [(According)5 ( )0.5 (to)5 ( )0.5 (the)5 ( )0.5 (asset)5 ( )0.5 (transfer)5 ( )0.5 (agreement,)5 ( )0.5 (Water)5 ( )0.5 (Engineering)5 ( )0.5 (&)5 ( )0.5 (Technology)5 ( )0.5 (Yan\222an)5 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(B)0.5 (r)0.5 (a)0.5 (n)0.5 (c)0.5 (h)3 ( )0.5 (h)0.5 (a)0.5 (s)3 ( )0.5 (c)0.5 (on)0.5 (d)0.5 (i)0.5 (t)0.5 (i)0.5 (o)0.5 (na)0.5 (l)0.5 (l)0.5 (y)3 ( )0.5 (a)0.5 (g)0.5 (r)0.5 (e)0.5 (e)0.5 (d)3 ( )0.5 (t)0.5 (o)3 ( )0.5 (s)0.5 (e)0.5 (l)0.5 (l)2.9 ( )0.6 (a)0.5 (n)0.5 (d)3 ( )0.5 (D)0.5 (at)0.5 (a)0.5 (n)0.5 (g)3 ( )0.5 (Y)0.5 (a)0.5 (n)0.5 (\222)0.5 (a)0.5 (n)3 ( )0.5 (T)0.5 (h)0.5 (e)0.5 (r)0.5 (m)0.5 (al)3.1 ( )0.5 (Po)0.5 (w)0.5 (e)0.5 (r)3 ( )0.5 (P)0.5 (l)0.5 (a)0.5 (n)0.5 (t)3 ( )0.5 (h)0.5 (a)0.5 (s)3 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(conditionally)7 ( agreed)7 ( )0.5 (to)7 ( )0.5 (acquire)7 ( )0.5 (all)7 ( )0.5 (the)7 ( )0.6 (assets)7.1 ( )0.5 (under)7 ( )0.5 (the)7 ( )0.6 (project)7 ( )0.5 (located)7 ( )0.5 (at)7 ( )0.5 (the)7 ( )0.5 (Datang)7 ( )]TJ 0.041 Tc 0.07 Tw 0 -1.231 Td [(Yan\222an)12.7 ( Thermal)12.8 ( Power)12.8 ( Plant)12.8 ( in)12.8 ( Baota)12.8 ( District,)12.8 ( Yan\222an)12.8 ( City,)12.8 ( Shaanxi)12.8 ( Province,)12.8 ( the)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (PRC, at a consideration of RMB57,811,814.74.)Tj ET endstreamendobj66 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 74 \226)Tj 0.033 Tc 0.075 Tw 13 0 0 13 56.6929 776.3179 Tm [(The)8 ( )0.6 (use)8 ( )0.5 (of)8 ( )0.5 (net)8 ( )0.5 (proceeds)8 ( )0.5 (from)8 ( )0.5 (the)8.1 ( )0.5 (initial)8 ( )0.5 (public)8 ( )0.5 (offering)8 ( )0.5 (for)8 ( )0.5 (the)8 ( )0.6 (six)8 ( )0.5 (months)8 ( )0.5 (ended)8 ( )0.5 (3)8 (0)8 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (June 2026 is set out as follows:)Tj /T1_1 1 Tf 6.5 0 0 13 209.9207 712.3179 Tm (Use of net proceeds)Tj 0.333 -1.231 Td ( as disclosed in the)Tj 3.199 -1.231 Td ( Prospectus)Tj 9.252 3.692 Td (Revised use of)Tj -0.469 -1.231 Td (net proceeds as)Tj -1.016 -1.231 Td ( at the date of the)Tj 0.815 -1.231 Td ( Announcement)Tj 9.978 2.462 Td (Actual use of net)Tj -0.386 -1.231 Td ( proceeds as at 30)Tj 3.418 -1.231 Td (June 2026)Tj 8.674 2.462 Td (Unutilised net)Tj -1.351 -1.231 Td (proceeds as at 30)Tj 2.868 -1.231 Td ( June 2026)Tj 7.707 2.462 Td (Expected time of )Tj -0.022 -1.231 Td (full utilization of)Tj -1.03 -1.231 Td ( remaining balance)Tj /T1_0 1 Tf 6.5 0 3.4833 13 225.7979 664.3179 Tm (\(HK$ million\))Tj 10.466 0 Td (\(HK$ million\))Tj 10.466 0 Td (\(HK$ million\))Tj 10.466 0 Td (\(HK$ million\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 209.7638 659.9078 cm 0 0 m 56.693 0 l S Q BT 0 Tc 6.5 0 3.4833 13 262.8817 661.3088 Tm ( )Tj ET q 1 0 0 1 277.7953 659.9078 cm 0 0 m 56.693 0 l S Q BT 6.5 0 3.4833 13 330.9132 661.3088 Tm ( )Tj ET q 1 0 0 1 345.8268 659.9078 cm 0 0 m 56.693 0 l S Q BT 6.5 0 3.4833 13 398.9447 661.3088 Tm ( )Tj ET q 1 0 0 1 413.8582 659.9078 cm 0 0 m 56.693 0 l S Q BT 6.5 0 3.4833 13 466.9762 661.3088 Tm ( )Tj ET q 1 0 0 1 481.8897 659.9078 cm 0 0 m 56.693 0 l S Q BT 6.5 0 0 13 535.0077 661.3088 Tm ( )Tj 0.025 Tc -73.587 -2.462 Td (To finance the capital expenditures for expanding )Tj 1.003 -1.231 Td (the desulfurization and denitrification concession )Tj -0.025 Tw 0 -1.231 Td (operations)Tj 27.593 0 Td (1,219.50)Tj 10.466 0 Td (1,219.50)Tj 10.466 0 Td (1,219.50)Tj 12.316 0 Td (0.00)Tj 0 Tc 0 Tw 11.791 0 Td (\226)Tj 0.024 Tc -73.637 -1.231 Td [(To develop new sources of growth in the revenue and)-1 ( )]TJ 0.025 Tc 1.003 -1.231 Td (profit, including but not limited to EMC business )Tj 0 -1.231 Td (for coal-fired power plants, water treatment )Tj 0 -1.231 Td (business, and providing customers with overall )Tj 0 -1.231 Td (solution plans of ultra-low emissions)Tj -0.025 Tw 28.393 0 Td (304.80)Tj 10.466 0 Td (304.80)Tj 10.466 0 Td (304.80)Tj 11.516 0 Td (0.00)Tj 0 Tc 0 Tw 11.791 0 Td (\226)Tj 0.025 Tc -73.637 -1.231 Td (To repay some of the existing bank loans in order to )Tj 1.003 -1.231 Td (lower the finance costs and improve the financial )Tj 0 -1.231 Td (leverage ratio)Tj -0.025 Tw 28.393 0 Td (203.20)Tj 10.466 0 Td (203.20)Tj 10.466 0 Td (203.20)Tj 11.516 0 Td (0.00)Tj 0 Tc 0 Tw 11.791 0 Td (\226)Tj 0.025 Tc -73.637 -1.231 Td (For working capital and other general corporate )Tj -0.025 Tw 1.003 -1.231 Td (purposes)Tj 28.393 0 Td (203.20)Tj 10.466 0 Td (203.20)Tj 10.466 0 Td (203.20)Tj 11.516 0 Td (0.00)Tj 0 Tc 0 Tw 11.791 0 Td (\226)Tj 0.025 Tc -73.637 -1.231 Td (For research and development expenditures)Tj -0.025 Tw 29.396 0 Td (101.60)Tj 10.991 0 Td (93.60)Tj 10.466 0 Td (93.60)Tj 0 Tc 0 Tw 12.316 0 Td (0)Tj 0.025 Tc 4.307 0 Td (December 2026)Tj -67.478 -1.231 Td (For investment in renewable energy projects)Tj 0 Tc 31.771 0 Td (\226)Tj 0.025 Tc -0.025 Tw 9.141 0 Td (8.00)Tj 10.466 0 Td (4.64)Tj 10.466 0 Td (3.36)Tj 0 Tw 5.632 0 Td (December 2026)Tj ET q 1 0 0 1 209.7637 400.8987 cm 0 0 m 56.693 0 l S Q BT 0 Tc 6.5 0 0 13 262.8816 402.2997 Tm ( )Tj ET q 1 0 0 1 277.7952 400.8987 cm 0 0 m 56.693 0 l S Q BT 6.5 0 0 13 330.9131 402.2997 Tm ( )Tj ET q 1 0 0 1 345.8267 400.8987 cm 0 0 m 56.693 0 l S Q BT 6.5 0 0 13 398.9446 402.2997 Tm ( )Tj ET q 1 0 0 1 413.8582 400.8987 cm 0 0 m 56.693 0 l S Q BT 6.5 0 0 13 466.9761 402.2997 Tm ( )Tj 0.025 Tc -0.025 Tw -63.121 -2.462 Td (Total)Tj 28.596 0 Td (2,032.30)Tj 10.466 0 Td (2,032.30)Tj 10.466 0 Td (2,028.94)Tj 12.316 0 Td (3.36)Tj ET 2.5 w q 1 0 0 1 209.7637 364.7352 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 209.7637 361.4027 cm 0 0 m 56.693 0 l S Q BT 0 Tc 0 Tw 6.5 0 0 13 262.8816 362.6362 Tm ( )Tj ET 2.5 w q 1 0 0 1 277.7952 364.7352 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 277.7952 361.4027 cm 0 0 m 56.693 0 l S Q BT 6.5 0 0 13 330.9131 362.6362 Tm ( )Tj ET 2.5 w q 1 0 0 1 345.8267 364.7352 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 345.8267 361.4027 cm 0 0 m 56.693 0 l S Q BT 6.5 0 0 13 398.9446 362.6362 Tm ( )Tj ET 2.5 w q 1 0 0 1 413.8582 364.7352 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 413.8582 361.4027 cm 0 0 m 56.693 0 l S Q BT 6.5 0 0 13 466.9761 362.6362 Tm ( )Tj ET endstreamendobj65 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 73 \226)Tj /T1_1 1 Tf 0.083 Tw 13 0 0 13 56.6929 776.0055 Tm [(DIVIDEND )0.5 (DISTRIBUTION )0.5 (PLAN )0.5 (FOR THE )0.5 (SIX )0.5 (MONTHS )0.5 (ENDED )0.5 (30 )0.5 (JUNE )]TJ -0.025 Tw 0 -1.231 Td (2026)Tj /T1_0 1 Tf 0.033 Tw 0 -2.462 Td (According to the resolution of the Board passed on 28 August 2026, the B\oard did not )Tj 0.028 Tw 0 -1.231 Td [(recommend the )0.5 (distribution of )0.5 (an interim dividend to shareholders )0.5 (of the Company for )]TJ 0 Tw 0 -1.231 Td (the six months ended 30 June 2026.)Tj /T1_1 1 Tf 0 -2.462 Td (MATERIAL LITIGATION OR ARBITRATION EVENT)Tj /T1_0 1 Tf 0.022 Tc 0 -2.462 Td [(Saved as disclosed in Note 21 to the financial information of this resul\ts announcement,)-3 ( )]TJ 0.025 Tc 0.019 Tw 0 -1.231 Td (as at 30 June 2026, the Group was not involved in any material litigatio\n or arbitration )Tj 0.036 Tc 0.072 Tw 0 -1.231 Td [(event.)11 ( )0.5 (So)11 ( )0.5 (far)11 ( )0.5 (as)11 ( )0.5 (the)11 ( )0.5 (Directors)11 ( )0.5 (are)11 ( )0.5 (aware,)11 ( )0.5 (no)11 ( )0.5 (such)11 ( )0.5 (litigation)11 ( )0.5 (or)11 ( )0.5 (claims)11 ( )0.5 (are)11 ( )0.5 (pending)11 ( )0.5 (or)11 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (threatened against the Group.)Tj /T1_1 1 Tf 0.031 Tc 0.077 Tw 0 -2.462 Td [(RE)0.5 (PUR)0.5 (CHA)0.5 (SE,)6 ( )0.6 (SALE)6.1 ( )0.5 (OR)6 ( )0.5 (RE)0.5 (DE)0.5 (MPT)0.5 (ION)6 ( )0.5 (O)0.5 (F)6 ( )0.5 (LIS)0.5 (TED)6 ( )0.6 (SECU)0.5 (RI)0.5 (TIE)0.5 (S)5.9 ( )0.6 (OF)6 ( )0.5 (TH)0.5 (E)6 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (COMPANY)Tj /T1_0 1 Tf 0.023 Tc 0 Tw 0 -2.462 Td [(For the six months ended 30 June 2026, neither the Company nor any of it\s subsidiaries)-2 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(has)7 ( )0.5 (re)0.5 (purcha)0.5 (sed,)7 ( )0.5 (sol)0.5 (d)6.9 ( )0.6 (or)7 ( )0.5 (redee)0.5 (med)7 ( )0.5 (any)7 ( )0.5 (of)7 ( )0.6 (the)7 ( )0.5 (Compa)0.5 (ny\222s)7 ( )0.5 (liste)0.5 (d)6.9 ( )0.6 (securi)0.5 (ties)7 ( )0.5 (\(inc)0.5 (luding)7 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.231 Td [(sale )0.5 (of )0.5 (treasury )0.5 (shares )0.5 (\(as )0.5 (defined )0.5 (under )0.5 (the )0.5 (Listing )0.5 (Rules\)\). )0.5 (As )0.5 (at )0.6 (30 )0.5 (June )0.5 (2026, )0.5 (the )]TJ 0 Tw 0 -1.231 Td (Company did not hold any treasury shares.)Tj /T1_1 1 Tf 0 -2.462 Td (USE OF NET PROCEEDS FROM INITIAL PUBLIC OFFERING)Tj /T1_0 1 Tf 0.051 Tc 0.07 Tw 0 -2.462 Td [(The)12.4 ( Company)12.3 ( has)12.4 ( been)12.3 ( listed)12.4 ( on)12.3 ( the)12.4 ( Main)12.4 ( Board)12.4 ( of)12.4 ( the)12.3 ( Stock)12.3 ( Exchange)12.4 ( since)12.4 ( 1)12.4 (5)26 ( )]TJ 0.025 Tc 0.056 Tw 0 -1.231 Td (November 2016. The net proceeds from the initial public offering and par\tial exercise )Tj 0.061 Tc 0.07 Tw 0 -1.231 Td [(of)12.7 ( the)12.7 ( over-allotment)12.7 ( option,)12.7 ( after)12.7 ( deducting)12.6 ( the)12.6 ( underwriting)12.6 ( fees)12.7 ( and)12.7 ( relevant)36 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(expenses,)4 ( )0.5 (amounted)4 ( )0.5 (to)4 ( )0.5 (approximately)4 ( )0.5 (HK$)4 (2)4 (,)4.1 (0)4 (3)4 (2)4 (.)4 (3)4 ( )0.5 (million,)4 ( )0.5 (which)4 ( )0.5 (will)4 ( )0.5 (be)4.1 ( )0.5 (used)4 ( )0.5 (in)4 ( )0.5 (the)4.1 ( )]TJ 0.024 Tc 0 Tw 0 -1.231 Td [(ways stated in the section headed \223Future Plans and Use of Proceeds\224\ of the prospectus)-1 ( )]TJ 0.039 Tc 0.07 Tw 0 -1.231 Td [(of)12.2 ( the)12.1 ( Company)12.1 ( dated)12.1 ( 3)12.2 ( November)12.1 ( 2)12.1 (0)12.1 (1)12.2 (6)12.1 ( \(the)12.2 ( \223)]TJ /T1_1 1 Tf -0.039 Tw (Prospectus)Tj /T1_0 1 Tf 0.07 Tw [(\224\))12.1 ( and)12.2 ( the)12.1 ( announcement)14 ( )]TJ 0.041 Tc 0 -1.231 Td [(of)12.7 ( the)12.7 ( Company)12.7 ( dated)12.7 ( 3)12.7 (0)12.7 ( December)12.7 ( 2)12.7 (0)12.7 (2)12.7 (1)12.7 ( \(the)12.8 ( \223)]TJ /T1_1 1 Tf -0.041 Tw (Announcement)Tj /T1_0 1 Tf 0.07 Tw [(\224\))12.7 ( in)12.7 ( relation)12.7 ( to)12.7 ( the)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (change in use of net proceeds.)Tj ET endstreamendobj64 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 72 \226)Tj 0.049 Tw 13 0 0 13 56.6929 776.0055 Tm (With effect from 30 April 2026, )Tj (Mr. X)Tj (u Guang was appointed as the general manager )Tj -0.025 Tw 0 -1.231 Td (and )Tj 0.032 Tw 1.826 0 Td (Mr. Z)Tj (hu Liming has stepped down from performing the duties and responsibiliti\es )Tj 0 Tw -1.826 -1.231 Td (as the acting general manager.)Tj 0.052 Tc 0.07 Tw 0 -2.462 Td [(At)12.8 ( the)12.9 ( 2)12.9 (0)12.8 (2)12.9 (5)12.9 ( annual)12.9 ( shareholders\222)12.8 ( meeting)12.9 ( of)12.9 ( the)12.9 ( Company)12.9 ( held)12.9 ( on)12.9 ( 3)12.9 (0)12.8 ( June)12.9 ( 2)12.8 (0)12.9 (2)12.9 (6)12.8 (,)27 ( )]TJ 0.025 Tc 0.014 Tw 0 -1.231 Td (Mr. Z)Tj (hu Liming has resigned as the Chairman and )Tj (Mr. X)Tj (u Guang has assumed the role )Tj 0.039 Tc 0.07 Tw 0 -1.231 Td [(of)13 ( t)0.5 (em)0.5 (po)0.5 (ra)0.5 (ry)13 ( p)0.5 (er)0.5 (fo)0.5 (rm)0.5 (an)0.5 (ce)13 ( o)0.5 (f)12.9 ( )0.5 (th)0.5 (e)12.9 ( )0.5 (du)0.5 (tie)0.5 (s)13 ( a)0.5 (nd)13 ( r)0.5 (es)0.5 (pon)0.5 (si)0.5 (bi)0.5 (li)0.5 (tie)0.5 (s)13 ( o)0.5 (f)12.9 ( )0.5 (the)13 ( C)0.5 (ha)0.5 (ir)0.5 (ma)0.5 (n)12.9 ( )0.5 (un)0.5 (ti)0.5 (l)12.9 ( )0.5 (a)14 ( )]TJ 0.025 Tc 0.022 Tw 0 -1.231 Td (new Chairman is elected by the Board. For the avoidance of doubt, )Tj (Mr. X)Tj (u Guang was )Tj 0.067 Tw 0 -1.231 Td (not and will not be appointed as the Chairman by virtue of the proposed \resolution at )Tj 0.032 Tc 0.076 Tw 0 -1.231 Td [(t)0.5 (he)7 ( )0.5 (2)7 (0)7 (2)7 (5)7 ( )0.5 (a)0.5 (nn)0.5 (u)0.5 (al)7 ( )0.5 (s)0.5 (h)0.5 (ar)0.5 (e)0.5 (ho)0.5 (ld)0.5 (e)0.5 (rs)0.5 (\222)7 ( )0.5 (me)0.5 (e)0.5 (t)0.5 (in)0.5 (g,)7 ( )0.5 (a)0.5 (n)0.5 (d)6.9 ( )0.5 (t)0.5 (h)0.5 (e)7 ( )0.5 (te)0.5 (m)0.5 (po)0.5 (ra)0.5 (r)0.5 (y)7 ( )0.5 (pe)0.5 (r)0.5 (fo)0.5 (r)0.5 (ma)0.5 (nc)0.5 (e)7 ( )0.5 (o)0.5 (f)7 ( )0.5 (th)0.5 (e)7 ( )0.5 (d)0.5 (ut)0.5 (ie)0.5 (s)7 ( )]TJ 0.025 Tc 0.026 Tw 0 -1.231 Td (and responsibilities of the Chairman by )Tj (Mr. X)Tj (u Guang, as approved by the Board, will )Tj 0 Tw 0 -1.231 Td (not constitute his appointment as the Chairman.)Tj 0.067 Tc 0.07 Tw 0 -2.462 Td [(During)12.2 ( the)12.2 ( period)12.2 ( when)12.2 ( )]TJ [(Mr.)12.2 ( X)]TJ [(u)12.2 ( Guang,)12.2 ( the)12.2 ( general)12.2 ( manager,)12.2 ( assumed)12.2 ( the)12.3 ( role)42 ( )]TJ 0.077 Tc 0 -1.231 Td [(of)12.1 ( temporary)12.2 ( performance)12.1 ( of)12.1 ( the)12.2 ( duties)12.1 ( and)12.1 ( responsibilities)12.2 ( of)12.2 ( the)12.1 ( Chairman,)52 ( )]TJ 0.075 Tc 0 -1.231 Td [(notwithstanding)12.8 ( the)12.8 ( deviation)12.8 ( from)12.8 ( code)12.8 ( provision)12.7 ( C.)12.7 (2)12.8 (.)12.7 (1)12.8 ( of)12.8 ( the)12.8 ( CG)12.7 ( Code,)12.7 ( the)50 ( )]TJ 0.055 Tc 0 -1.231 Td [(supervision)12.6 ( of)12.6 ( the)12.7 ( Board)12.6 ( \(comprising)12.7 ( one)12.7 ( executive)12.6 ( Director,)12.6 ( five)12.7 ( no)]TJ -0.055 Tw (n-e)Tj [(xecutive)30 ( )]TJ 0.049 Tc 0.07 Tw 0 -1.231 Td [(Directors)12.9 ( \(including)12.9 ( one)12.9 ( employee)13 ( r)0.5 (epresentative)12.9 ( Director\))12.9 ( and)12.9 ( thr)0.5 (ee)12.9 ( independent)24 ( )]TJ 0.046 Tc -0.046 Tw 0 -1.231 Td (no)Tj (n-e)Tj 0.07 Tw [(xecutive)12.9 ( Directors\))12.8 ( was)12.9 ( sufficient)12.9 ( to)12.8 ( ensure)12.9 ( a)12.8 ( proper)12.9 ( structure)12.9 ( of)12.9 ( checks)12.8 ( and)21 ( )]TJ 0.054 Tc 0 -1.231 Td [(balances)12.7 ( of)12.7 ( power)12.8 ( and)12.7 ( to)12.7 ( provide)12.7 ( sufficient)12.8 ( checks)12.8 ( to)12.7 ( protect)12.7 ( the)12.7 ( interests)12.8 ( of)12.7 ( the)29 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Company and its shareholders. )Tj 0.02 Tw 0 -2.462 Td (The Company will keep reviewing the current structure of the Board from \time to time )Tj 0 Tw 0 -1.231 Td (and looking for appropriate candidate to be appointed as the Chairman.)Tj /T1_1 1 Tf 0.126 Tc 0.07 Tw 0 -2.462 Td [(COMPLIANCE)12.5 ( WITH)12.5 ( THE)12.5 ( MODEL)12.4 ( CODE)12.5 ( FOR)12.4 ( DEALING)12.5 ( IN)12.5 ( THE)101 ( )]TJ 0.059 Tc 0 -1.231 Td [(S)0.5 (EC)0.5 (UR)0.5 (I)0.5 (TI)0.5 (ES)13 ( )0.5 (OF)13 ( T)0.5 (H)0.5 (E)12.9 ( )0.5 (CO)0.5 (MP)0.5 (A)0.5 (N)0.5 (Y)12.9 ( )0.5 (BY)13 ( )0.5 (IT)0.5 (S)12.9 ( )0.5 (D)0.5 (IR)0.5 (E)0.5 (CT)0.5 (OR)]TJ 0.046 Tc -0.046 Tw 27.414 0 Td (S )Tj 0.059 Tc 0.07 Tw 0.981 0 Td [(A)0.5 (ND)13 ( )0.5 (RE)0.5 (LE)0.5 (V)0.5 (AN)0.5 (T)34 ( )]TJ 0.025 Tc -0.025 Tw -28.395 -1.231 Td (EMPLOYEES)Tj /T1_0 1 Tf 0.039 Tc 0.07 Tw 0 -2.462 Td [(The)12.8 ( Group)12.9 ( has)12.9 ( adopted)12.9 ( the)12.9 ( Model)12.9 ( Code)12.9 ( for)12.9 ( Securities)12.9 ( Transactions)12.9 ( by)12.8 ( Directors)12.9 ( of)14.1 ( )]TJ 0.045 Tc 0 -1.231 Td [(Listed)12.5 ( Issuers)12.5 ( \(the)12.5 ( \223)]TJ /T1_1 1 Tf [(Model)12.5 ( Code)]TJ /T1_0 1 Tf [(\224\))12.5 ( set)12.5 ( out)12.5 ( in)12.5 ( Appendix)12.5 ( C)12.5 (3)12.5 ( to)12.5 ( the)12.5 ( Listing)12.5 ( Rules)12.5 ( as)20 ( )]TJ 0.025 Tc 0.06 Tw 0 -1.231 Td [(the )0.5 (code )0.6 (of )0.5 (conduct )0.5 (for )0.6 (dealing )0.5 (in )0.5 (the )0.6 (securities )0.5 (of )0.5 (the )0.6 (Company )0.5 (by )0.5 (the )0.6 (Director)]TJ -0.025 Tw (s )Tj 35.574 0 Td (and )Tj 0.044 Tc 0.07 Tw -35.574 -1.231 Td [(relevant)12.4 ( employees)12.3 ( of)12.3 ( the)12.4 ( Company)12.3 ( \(as)12.3 ( defined)12.4 ( in)12.3 ( the)12.4 ( Model)12.3 ( Code\).)12.3 ( Having)12.3 ( made)19 ( )]TJ 0.052 Tc 0 -1.231 Td [(s)0.5 (p)0.6 (e)0.5 (c)0.5 (i)0.6 (f)0.5 (i)0.5 (c)13 ( )0.6 (e)0.5 (n)0.5 (q)0.5 (u)0.6 (i)0.5 (r)0.5 (y)13 ( )0.6 (t)0.5 (o)13 ( )0.5 (a)0.6 (l)0.5 (l)13 ( )0.6 (D)0.5 (i)0.5 (r)0.5 (e)0.6 (c)0.5 (t)0.5 (o)0.6 (r)0.5 (s)0.5 (,)13 ( )0.6 (e)0.5 (a)0.6 (c)0.5 (h)13 ( )0.5 (D)0.6 (i)0.5 (r)0.5 (e)0.6 (c)0.5 (t)0.5 (o)0.6 (r)13 ( )0.5 (c)0.5 (o)0.6 (n)0.5 (f)0.5 (i)0.5 (r)0.6 (m)0.5 (e)0.5 (d)13 ( )0.6 (t)0.5 (h)0.5 (a)0.6 (t)13 ( )0.5 (h)0.5 (e)0.6 (/)0.5 (s)0.5 (h)0.5 (e)13.1 ( )0.5 (h)0.5 (a)0.6 (d)13 ( )0.5 (s)0.5 (t)0.6 (r)0.5 (i)0.5 (c)0.6 (t)0.5 (l)0.5 (y)27 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (complied with the standards set out in the Model Code during the Reporti\ng Period.)Tj ET endstreamendobj60 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 71 \226)Tj /T1_1 1 Tf -0.025 Tw 13 0 0 13 85.0394 776.409 Tm (4.)Tj 0 Tc 0 Tw ( )Tj 0.026 Tc 0.082 Tw 2.181 0 Td [(M)0.5 (a)0.5 (k)0.5 (e)1 ( )0.5 (e)0.5 (v)0.5 (e)0.5 (r)0.5 (y)1.1 ( e)0.6 (f)0.5 (f)0.5 (o)0.5 (r)0.5 (t)1 ( )0.5 (t)0.5 (o)1 ( )0.5 (t)0.5 (a)0.5 (c)0.5 (k)0.5 (l)0.5 (e)1 ( )0.5 (t)0.5 (e)0.5 (c)0.5 (h)0.5 (n)0.5 (o)0.5 (l)0.5 (o)0.5 (g)0.5 (i)0.5 (c)0.5 (a)0.5 (l)1 ( )0.5 (i)0.5 (n)0.5 (n)0.5 (o)0.5 (v)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)1 ( )0.5 (a)0.5 (n)0.5 (d)1 ( )0.5 (a)0.5 (c)0.5 (c)0.5 (e)0.5 (l)0.5 (e)0.5 (r)0.5 (a)0.5 (t)0.5 (e)1 ( )0.5 (t)0.5 (h)0.5 (e)1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (cultivation of new productive forces.)Tj /T1_0 1 Tf 0.052 Tc 0.07 Tw 0 -2.462 Td [(Solidify)12.8 ( our)12.7 ( responsibilities)12.8 ( for)12.7 ( the)12.8 ( two)12.8 ( national)12.7 ( key)12.8 ( scientific)12.8 ( research)27 ( )]TJ 0.094 Tc 0 -1.231 Td [(projects,)12.7 ( namely,)12.8 ( comprehensive)12.7 ( environmental)12.8 ( governance)12.8 ( in)12.7 ( the)69 ( )]TJ 0.076 Tc -0.076 Tw 0 -1.231 Td (Beijin)Tj (g-T)Tj (ianji)Tj (n-H)Tj 0.07 Tw [(ebei)12.3 ( region)12.3 ( and)12.3 ( chemical)12.3 ( 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Production scheduling and deliver\y are )Tj 0.078 Tw 0 -1.231 Td (optimized to improve the productio)Tj -0.025 Tw (n-to-s)Tj 0.078 Tw (ales ratio and sales volume. In the )Tj 0.037 Tc 0.071 Tw 0 -1.231 Td [(en)0.5 (gine)0.5 (er)0.5 (ing)12 ( )0.5 (bu)0.5 (sine)0.5 (ss)0.5 (,)12 ( )0.5 (str)0.5 (ict)12 ( )0.5 (c)0.5 (ost)12 ( )0.5 (c)0.5 (ont)0.5 (rol)12 ( )0.5 (is)12.1 ( )0.5 (enf)0.5 (orc)0.5 (ed.)12 ( )0.5 (T)0.5 (ech)0.5 (nic)0.5 (al)12 ( )0.5 (de)0.5 (sig)0.5 (n)12 ( )0.5 (and)12 ( )]TJ 0 Tc 0 Tw 0 -1.231 Td (o)Tj 0.032 Tc -0.032 Tw 0.532 0 Td (n-s)Tj 0.076 Tw [(ite)7 ( )0.5 (execution)7 ( )0.5 (of)7 ( )0.6 (projects)7 ( )0.5 (under)7 ( )0.5 (construction)7 ( )0.5 (are)7 ( )0.5 (wel)]TJ -0.032 Tw (l-m)Tj 0.076 Tw [(anaged.)7 ( )0.5 (Budget)7 ( )]TJ 0.045 Tc 0.07 Tw -0.532 -1.231 Td [(m)0.5 (a)0.5 (n)0.5 (a)0.5 (g)0.5 (e)0.6 (me)0.6 (n)0.5 (t)13 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (c)0.5 (e)0.5 (s)0.5 (s)0.5 (e)0.6 (s)13 ( )0.5 (a)0.5 (r)0.5 (e)13 ( )0.5 (s)0.5 (t)0.5 (r)0.5 (i)0.5 (c)0.6 (t)0.5 (l)0.5 (y)13 ( )0.5 (i)0.5 (m)0.5 (p)0.5 (l)0.5 (e)0.5 (m)0.5 (e)0.5 (n)0.5 (t)0.5 (e)0.5 (d)0.5 (,)13 ( )0.5 (c)0.5 (o)0.5 (s)0.6 (t)12.9 ( )0.6 (r)0.5 (e)0.5 (d)0.5 (u)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (p)0.5 (l)0.5 (a)0.5 (n)0.5 (s)13 ( )0.5 (a)0.6 (r)0.5 (e)20 ( )]TJ 0.038 Tc 0 -1.231 Td [(developed)12.1 ( through)12.1 ( specialized)12.1 ( analysis,)12.1 ( and)12.2 ( new)12.1 ( los)]TJ -0.038 Tw (s-m)Tj 0.07 Tw [(aking)12.1 ( projects)12.2 ( are)13 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (strictly controlled.)Tj /T1_1 1 Tf -0.025 Tw -2.181 -2.462 Td (3.)Tj 0 Tc 0 Tw ( )Tj 0.039 Tc 0.07 Tw 2.181 0 Td [(E)0.5 (x)0.5 (pa)0.5 (n)0.5 (d)13 ( m)0.5 (a)0.5 (r)0.5 (k)0.5 (e)0.5 (t)0.5 (s)12.9 ( )0.5 (t)0.5 (h)0.5 (r)0.5 (ou)0.5 (g)0.5 (h)13 ( )0.5 (in)0.5 (t)0.5 (e)0.5 (r)0.5 (na)0.5 (l)13 ( )0.5 (a)0.5 (nd)13 ( )0.5 (e)0.5 (x)0.5 (t)0.5 (er)0.5 (n)0.5 (a)0.5 (l)13 ( )0.5 (co)0.5 (l)0.5 (l)0.5 (ab)0.5 (o)0.5 (r)0.5 (a)0.5 (t)0.5 (io)0.5 (n)0.5 (,)13 ( s)0.5 (t)0.5 (e)0.5 (a)0.5 (d)0.5 (il)0.5 (y)14 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (increasing revenue and contract scale)Tj /T1_0 1 Tf 0.046 Tc 0.07 Tw 0 -2.462 Td [(Firstly,)12.5 ( the)12.5 ( engineering)12.5 ( business)12.5 ( deeply)12.5 ( cultivates)12.5 ( the)12.4 ( flue)12.5 ( gas)12.5 ( treatment)21 ( )]TJ 0.045 Tc 0 -1.231 Td [(and)12.2 ( water)12.3 ( treatment)12.3 ( markets)12.3 ( for)12.3 ( coa)]TJ -0.045 Tw (l-f)Tj 0.07 Tw [(ired)12.2 ( power)12.2 ( units,)12.3 ( focusing)12.3 ( on)12.2 ( new)20 ( )]TJ 0.079 Tc 0 -1.231 Td [(projects,)12.7 ( design)12.6 ( and)12.7 ( supply)12.6 ( projects,)12.7 ( and)12.7 ( hig)]TJ -0.079 Tw (h-q)Tj 0.07 Tw [(uality)12.7 ( technological)54 ( )]TJ 0.08 Tc 0 -1.231 Td [(u)0.5 (p)0.6 (g)0.5 (r)0.5 (a)0.6 (d)0.5 (i)0.5 (n)0.6 (g)13 ( )0.5 (p)0.6 (r)0.5 (o)0.5 (j)0.6 (e)0.5 (c)0.6 (t)0.5 (s)0.5 (,)13 ( )0.6 (t)0.5 (o)13 ( )0.6 (i)0.5 (m)0.6 (p)0.5 (l)0.5 (e)0.5 (m)0.6 (e)0.5 (n)0.6 (t)13 ( )0.5 (n)0.6 (e)0.5 (w)13 ( )0.6 (e)0.5 (n)0.6 (v)0.5 (i)0.5 (r)0.6 (o)0.5 (n)0.5 (m)0.6 (e)0.5 (n)0.5 (t)0.6 (a)0.5 (l)13 ( )0.6 (p)0.5 (r)0.5 (o)0.6 (t)0.5 (e)0.5 (c)0.6 (t)0.5 (i)0.5 (o)0.6 (n)13 ( )0.5 (a)0.6 (n)0.5 (d)55 ( )]TJ 0.042 Tc -0.042 Tw 0 -1.231 Td (efficienc)Tj (y-e)Tj 0.07 Tw [(nhancing)12.5 ( technologies,)12.6 ( expanding)12.5 ( into)12.5 ( business)12.5 ( areas)12.5 ( such)12.6 ( as)17 ( )]TJ 0.031 Tc -0.031 Tw 0 -1.231 Td (ful)Tj (l-l)Tj 0.077 Tw [(oad)6 ( )0.5 (pollutant)6.1 ( )0.5 (collaborative)6.1 ( )0.5 (treatment,)6 ( )0.6 (al)]TJ -0.031 Tw (l-c)Tj 0.077 Tw [(ondition)6 ( )0.5 (energy)6.1 ( )0.5 (saving)6 ( )0.5 (and)6 ( )]TJ 0.044 Tc 0.07 Tw 0 -1.231 Td [(consumption)12.1 ( reduction,)12.2 ( no)]TJ -0.044 Tw (n-p)Tj 0.07 Tw [(ower)12.2 ( industry)12.2 ( water)12.2 ( treatment,)12.1 ( smart)12.2 ( water)19 ( )]TJ 0.047 Tc 0 -1.231 Td [(management,)12.3 ( waste)12.3 ( heat)12.3 ( utilization,)12.4 ( and)12.4 ( lo)]TJ -0.047 Tw (w-c)Tj 0.07 Tw [(arbon)12.3 ( transformation.)12.3 ( The)22 ( )]TJ 0.025 Tc 0.036 Tw 0 -1.231 Td (denitrification catalyst business continues to consolidate its market po\sition, )Tj 0.022 Tc 0 Tw 0 -1.231 Td [(further enhancing its cost, technological, and service advantages, and s\triving)-3 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(to)4 ( )0.5 (expand)4 ( )0.5 (into)4 ( )0.5 (new)4 ( )0.5 (markets)4 ( )0.5 (such)4 ( )0.5 (as)4 ( )0.5 (gas)4 ( )0.5 (turbines,)4 ( )0.5 (shipbuilding,)4 ( )0.5 (metallurgy,)4 ( )]TJ 0.069 Tc 0.07 Tw 0 -1.231 Td [(chemicals,)12.8 ( and)12.8 ( hydrogen)12.8 ( energy.)12.8 ( Furthermore,)12.8 ( the)12.8 ( resource)12.8 ( recycling)44 ( )]TJ 0.043 Tc 0 -1.231 Td [(business,)12.3 ( relying)12.2 ( on)12.3 ( the)12.3 ( \223asset)12.3 ( acquisition)]TJ /C0_0 1 Tf 0 Tc 0 Tw 18.854 0 Td <007B>Tj /T1_0 1 Tf 0.043 Tc -0.043 Tw 1.031 0 Td (hig)Tj (h-v)Tj 0.07 Tw [(alue)12.3 ( classification)12.3 ( and)18 ( )]TJ 0.025 Tc -0.025 Tw -19.885 -1.231 Td (dismantling)Tj /C0_0 1 Tf 0 Tc 0 Tw <007B>Tj /T1_0 1 Tf 0.025 Tc 0.038 Tw 6.023 0 Td (blade resource regeneration)Tj /C0_0 1 Tf 0 Tc 0 Tw <007B>Tj /T1_0 1 Tf 0.025 Tc 0.038 Tw 12.827 0 Td (recycled product sales\224 business )Tj 0.062 Tc 0.07 Tw -18.85 -1.231 Td [(model)12.2 ( and)12.2 ( mature)12.2 ( experience)12.2 ( formed)12.2 ( by)12.2 ( the)12.3 ( sige)12.3 ( wind)12.3 ( farm)12.3 ( project)12.2 ( in)37 ( )]TJ 0.025 Tc 0.079 Tw 0 -1.231 Td (Guizhou, is accelerating the implementation of other decommissioned wind\ )Tj 0.03 Tc 0.078 Tw 0 -1.231 Td [(p)0.5 (o)0.6 (w)0.5 (e)0.6 (r)5 ( )0.5 (a)0.5 (n)0.5 (d)5 ( )0.5 (p)0.6 (h)0.5 (o)0.5 (t)0.5 (o)0.6 (v)0.5 (o)0.5 (l)0.6 (t)0.5 (a)0.5 (i)0.6 (c)5 ( )0.5 (e)0.5 (q)0.6 (u)0.5 (i)0.5 (p)0.6 (m)0.5 (e)0.5 (n)0.6 (t)5 ( )0.5 (r)0.5 (e)0.5 (c)0.6 (y)0.5 (c)0.6 (l)0.5 (i)0.5 (n)0.6 (g)5 ( )0.5 (p)0.5 (r)0.5 (o)0.6 (j)0.5 (e)0.5 (c)0.6 (t)0.5 (s)0.5 (,)5 ( )0.5 (b)0.6 (u)0.5 (i)0.5 (l)0.6 (d)0.5 (i)0.5 (n)0.6 (g)4.9 ( )0.5 (a)5.1 ( )0.5 (f)0.5 (u)0.5 (l)]TJ -0.03 Tw 29.754 0 Td [(l)0.5 (-)0.6 (c)]TJ 1.143 0 Td [(h)0.5 (a)0.6 (i)0.5 (n)5 ( )]TJ 0.025 Tc 0 Tw -30.897 -1.231 Td (new energy solid waste recycling and disposal system.)Tj ET endstreamendobj88 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 69 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(VI. )-469.5 (OUTLOOK ON THE GROUP\222S FUTURE DEVELOPMENT)]TJ /T1_0 1 Tf 0.036 Tc 0.072 Tw 2.181 -2.462 Td [(Facing)11 ( )0.5 (the)11 ( )0.5 (development)11 ( )0.5 (opportunities)11 ( )0.5 (and)11 ( )0.5 (complex)11 ( )0.5 (and)11.1 ( eve)]TJ -0.036 Tw (r-c)Tj 0.072 Tw [(hanging)11 ( )0.5 (industry)11 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.231 Td [(situation)2 ( )0.5 (during)2 ( )0.5 (the)2 ( )0.5 (1)2 (5)2 (th)2 ( )0.5 (Fiv)]TJ -0.027 Tw (e-Y)Tj 0.081 Tw [(ear)2 ( Plan)2 ( )0.5 (period,)2 ( )0.5 (the)2 ( )0.5 (overall)2 ( )0.5 (guiding)2 ( )0.5 (principle)2 ( )0.5 (of)2 ( )]TJ 0.043 Tc 0.07 Tw 0 -1.231 Td [(the)12.6 ( Group\222s)12.6 ( 1)12.6 (5)12.6 (th)12.6 ( Fiv)]TJ -0.043 Tw (e-Y)Tj 0.07 Tw [(ear)12.6 ( Plan)12.6 ( is:)12.7 ( to)12.6 ( promote)12.6 ( hig)]TJ -0.043 Tw (h-q)Tj 0.07 Tw [(uality)12.6 ( development)12.6 ( and)18 ( )]TJ 0.042 Tc 0 -1.231 Td [(build)12.7 ( a)12.6 ( technolog)]TJ -0.042 Tw (y-i)Tj 0.07 Tw [(nnovative)12.7 ( enterprise)12.7 ( as)12.6 ( the)12.7 ( main)12.7 ( theme,)12.6 ( focusing)12.6 ( on)12.7 ( three)17 ( )]TJ 0.025 Tc 0.045 Tw 0 -1.231 Td (key areas: environmental protection professional support, new energy tec\hnology )Tj 0.033 Tc 0.075 Tw 0 -1.231 Td [(services,)8 ( )0.5 (and)8 ( )0.5 (the)8 ( )0.6 (industrialization)8.1 ( )0.5 (of)8 ( )0.6 (scientific)8 ( )0.5 (and)8 ( )0.5 (technological)8 ( )0.5 (achievements;)8 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(to)7 ( )0.5 (establish)7 ( )0.5 (five)7 ( )0.5 (key)7 ( )0.5 (awarenesses:)7 ( )0.5 (market,)7 ( )0.5 (service,)7 ( )0.5 (quality,)7 ( )0.5 (efficiency,)7 ( )0.5 (and)7 ( )0.5 (risk;)7 ( )]TJ 0.043 Tc 0.07 Tw 0 -1.231 Td [(to)12.4 ( accelerate)12.4 ( the)12.4 ( upgrading)12.4 ( of)12.3 ( the)12.4 ( green)12.4 ( environmental)12.4 ( protection)12.4 ( industry;)12.4 ( to)18 ( )]TJ 0.025 Tc 0.037 Tw 0 -1.231 Td (solidify the foundation for enterprise development; and to simultaneousl\y expand )Tj 0.022 Tc 0 Tw 0 -1.231 Td [(into a future industry investment platform for the deep integration of t\echnological)-3 ( )]TJ 0.039 Tc 0.07 Tw 0 -1.231 Td [(innovation)12.3 ( and)12.4 ( industrial)12.4 ( innovation)12.4 ( to)12.4 ( develop)12.3 ( new)12.4 ( hig)]TJ -0.039 Tw (h-q)Tj 0.07 Tw [(uality)12.4 ( productivity.)14 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(This)3 ( )0.5 (will)3 ( )0.5 (involve)3 ( )0.5 (building)3 ( )0.5 (three)3.1 ( )0.5 (platforms:)3 ( )0.5 (technological)3 ( )0.5 (innovation,)3 ( )0.5 (investment)3 ( )]TJ 0.084 Tc 0.07 Tw 0 -1.231 Td [(development,)12.3 ( and)12.3 ( technical)12.4 ( services,)12.3 ( forming)12.4 ( a)12.3 ( \223)12.4 (4)12.3 (+)12.3 (1)12.4 (\224)12.3 ( industrial)12.3 ( layout,)59 ( )]TJ 0.043 Tc 0 -1.231 Td [(namely)12.5 ( four)12.5 ( core)12.5 ( areas)12.5 ( of)12.5 ( environmental)12.5 ( pollution)12.5 ( governance,)12.5 ( environmental)18 ( )]TJ 0.025 Tc 0.08 Tw 0 -1.231 Td (protection product manufacturing, new energy technology services, and re\source )Tj 0.048 Tw 0 -1.231 Td (recycling, and one new direction of future industry investment. This wil\l achieve )Tj 0.024 Tc -0.024 Tw 0 -1.231 Td (hig)Tj (h-q)Tj 0 Tw [(uality development driven by the dual engines of \223environmental prote\ction)-1 ( )]TJ 0.025 Tc 0 -1.231 Td (+ scientific and technological innovation.\224)Tj 0.06 Tw 0 -2.462 Td (Based on the above development strategy, the Group will focus on the fol\lowing )Tj 0 Tw 0 -1.231 Td (four aspects:)Tj /T1_1 1 Tf -0.025 Tw 0 -2.462 Td (1.)Tj 0 Tc 0 Tw ( )Tj 0.022 Tc 2.18 0 Td [(Seiz)0.5 (e industr)0.5 (ial policy )0.5 (opportunit)0.5 (ies and br)0.5 (oaden lon)]TJ -0.022 Tw [(g-)0.5 (t)]TJ 0 Tw [(erm de)0.5 (velopme)0.5 (nt)-3 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (tracks)Tj /T1_0 1 Tf 0.07 Tc 0.07 Tw 0 -2.462 Td [(To)12.7 ( consolidate)12.7 ( the)12.6 ( core)12.7 ( business)12.6 ( of)12.6 ( environmental)12.7 ( protection)12.6 ( facility)45 ( )]TJ 0.074 Tc 0 -1.231 Td [(c)0.5 (onc)0.5 (es)0.5 (si)0.5 (on)13 ( op)0.5 (er)0.5 (a)0.5 (tio)0.5 (ns)0.5 (.)12.9 ( C)0.5 (on)0.5 (ti)0.5 (nue)13 ( t)0.5 (o)12.9 ( )0.5 (im)0.5 (ple)0.5 (me)0.5 (nt)13 ( c)0.5 (onc)0.5 (e)0.5 (ssi)0.5 (on)13 ( o)0.5 (pe)0.5 (ra)0.5 (tio)0.5 (ns)49 ( )]TJ 0.077 Tc 0 -1.231 Td [(in)12.3 ( coa)]TJ -0.077 Tw (l-f)Tj 0.07 Tw [(ired)12.4 ( power)12.4 ( plant)12.4 ( expansion)12.4 ( and)12.4 ( \223larg)]TJ -0.077 Tw (e-s)Tj 0.07 Tw [(cale)12.4 ( replacement)12.4 ( of)52 ( )]TJ 0.057 Tc -0.057 Tw 0 -1.231 Td (smal)Tj (l-s)Tj 0.07 Tw [(cale\224)12.7 ( projects)12.7 ( that)12.6 ( have)12.7 ( already)12.7 ( adopted)12.7 ( the)12.7 ( desulfurization)12.7 ( and)32 ( )]TJ 0.025 Tc 0.076 Tw 0 -1.231 Td [(denitrification concession )0.5 (operations model, )0.5 (striving )0.5 (for )0.5 (new )0.5 (breakthroughs )]TJ 0.064 Tc 0.07 Tw 0 -1.231 Td [(in)12.9 ( i)0.5 (ncre)0.5 (mental)13 ( desu)0.5 (lfuriz)0.5 (ation)12.9 ( )0.5 (and)12.9 ( de)0.5 (nitrif)0.5 (icat)0.5 (ion)12.9 ( con)0.5 (cess)0.5 (ion)12.9 ( pr)0.5 (ojects)0.5 (.)39 ( )]TJ 0.022 Tc 0 Tw 0 -1.231 Td [(Secondly, strengthen new energy technology service capabilities, focusin\g on)-3 ( )]TJ 0.021 Tc 0 -1.231 Td (providing technical support for larg)Tj -0.021 Tw (e-s)Tj 0 Tw [(cale energy base projects, continuously)-4 ( )]TJ 0.025 Tc 0.037 Tw 0 -1.231 Td (enhancing design capabilities, providing technical guarantees for larg)Tj -0.025 Tw (e-s)Tj (cale )Tj 0.028 Tc 0.08 Tw 0 -1.231 Td [(new)3 ( )0.5 (energy)3 ( )0.5 (base)3 ( )0.5 (projects,)3 ( )0.5 (and)3 ( )0.5 (ensuring)3 ( )0.5 (the)3 ( )0.5 (successful)3 ( )0.5 (application)3 ( )0.5 (for)3.1 ( )0.5 (class)3.1 ( )]TJ 0.062 Tc 0.07 Tw 0 -1.231 Td [(B)12.8 ( design)12.8 ( qualification)12.9 ( in)12.8 ( the)12.8 ( power)12.9 ( industry)12.8 ( \(wind)12.8 ( power)12.8 ( generation\).)37 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(F)0.5 (u)0.5 (r)0.6 (t)0.5 (h)0.5 (e)0.5 (r)0.6 (,)4 ( )0.5 (s)0.5 (e)0.5 (i)0.6 (z)0.5 (e)4 ( )0.5 (t)0.5 (h)0.6 (e)4 ( )0.5 (p)0.5 (o)0.5 (l)0.6 (i)0.5 (c)0.5 (y)4 ( )0.5 (o)0.5 (p)0.5 (p)0.6 (o)0.5 (r)0.5 (t)0.5 (u)0.6 (n)0.5 (i)0.5 (t)0.5 (i)0.6 (e)0.5 (s)4 ( )0.5 (o)0.5 (f)4 ( )0.5 (c)0.6 (o)0.5 (n)0.5 (c)0.5 (e)0.6 (n)0.5 (t)0.5 (r)0.5 (a)0.6 (t)0.5 (e)0.5 (d)4 ( )0.5 (d)0.6 (e)0.5 (c)0.5 (o)0.6 (m)0.5 (m)0.5 (i)0.5 (s)0.5 (s)0.6 (i)0.5 (o)0.5 (n)0.5 (i)0.6 (n)0.5 (g)4 ( )0.5 (o)0.5 (f)4 ( )]TJ 0.025 Tc 0.058 Tw 0 -1.231 Td (wind and solar power equipment and comprehensive solid waste utilization\, )Tj 0.05 Tc 0.07 Tw 0 -1.231 Td [(accelerate)12.4 ( the)12.4 ( construction)12.3 ( of)12.3 ( resource)12.4 ( recycling)12.3 ( demonstration)12.3 ( projects)25 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(and)3 ( )0.5 (the)3 ( )0.5 (development)3 ( )0.5 (of)3 ( )0.5 (the)3 ( )0.5 (c)0.5 (omprehensive)3 ( )0.6 (solid)3 ( )0.5 (waste)3 ( )0.5 (utilization)3 ( )0.5 (industry,)3 ( )]TJ 0.046 Tc 0.07 Tw 0 -1.231 Td [(and)12.5 ( promote)12.5 ( the)12.5 ( construction)12.5 ( of)12.5 ( two)12.5 ( \223)12.5 (1)12.5 (0)12.5 (,)12.5 (0)12.5 (0)]TJ 0.034 Tc -0.034 Tw 19.672 0 Td [(0)0.5 (-)-12 (t)]TJ 0.046 Tc -0.046 Tw 1.237 0 Td (onn)Tj (e-l)Tj 0.07 Tw [(evel\224)12.5 ( demonstration)21 ( )]TJ 0.025 Tc 0.02 Tw -20.909 -1.231 Td (production lines and the Shunxing Coal Mine solid waste disposal site un\der )Tj 0.046 Tc 0.07 Tw 0 -1.231 Td [(the)12.4 ( \223National)12.4 ( Science)12.4 ( and)12.4 ( Technology)12.4 ( Major)12.5 ( Project)12.4 ( for)12.4 ( Comprehensive)21.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Environmental Governance in the Beijin)Tj -0.025 Tw (g-T)Tj (ianji)Tj (n-H)Tj 0 Tw (ebei region\224.)Tj ET endstreamendobj87 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 68 \226)Tj 0.045 Tc 0.07 Tw 13 0 0 13 85.0394 776.3179 Tm [(According)12.4 ( to)12.3 ( the)12.4 ( development)12.3 ( requirements,)12.4 ( the)12.4 ( Company)12.4 ( further)12.4 ( established)20 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(and)3 ( )0.5 (improved)3 ( )0.5 (the)3 ( )0.5 (overall)3 ( )0.5 (responsibility)3 ( )0.5 (management)3 ( )0.5 (system)3 ( )0.5 (and)2.9 ( )0.6 (the)3 ( )0.5 (whole)3 ( )0.5 (staff)3 ( )]TJ 0.025 Tc 0.061 Tw 0 -1.231 Td (performance evaluation system on the basis of clear position objectives.\ In order )Tj 0.03 Tc 0.078 Tw 0 -1.231 Td [(to)5 ( )0.5 (inspire)5 ( )0.5 (the)5 ( )0.5 (potential)5 ( )0.5 (and)5 ( )0.5 (work)5 ( )0.5 (enthusiasm)5 ( )0.6 (of)5 ( )0.5 (employees,)5 ( )0.5 (to)5 ( )0.5 (fully)5 ( )0.5 (embody)5 ( )0.5 (the)5 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 Td [(incentive)12 ( )0.5 (and)12 ( )0.5 (constraint)12 ( )0.5 (behavior,)12 ( )0.5 (and)12 ( )0.6 (to)12 ( )0.5 (lay)12 ( )0.5 (a)12 ( )0.5 (solid)12 ( )0.5 (foundation)12 ( )0.5 (for)12 ( )0.5 (the)12 ( )0.5 (orderly)11.9 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(career)3 ( )0.5 (development)3 ( )0.5 (of)3 ( all)3 ( )0.5 (the)3 ( )0.5 (employees,)3 ( )0.5 (the)3 ( )0.5 (Company)3 ( )0.5 (divides)3 ( )0.5 (the)3 ( )0.5 (specific)3 ( )0.5 (task)3 ( )]TJ 0.055 Tc 0.07 Tw 0 -1.231 Td [(in)12.9 ( de)0.5 (velopment)13 ( planning)13 ( into)12.9 ( ea)0.5 (ch)12.9 ( depa)0.5 (rtment)12.9 ( )0.5 (and)12.9 ( posi)0.5 (tion,)12.9 ( obje)0.5 (ctively)12.9 ( )0.5 (and)30 ( )]TJ 0.047 Tc 0 -1.231 Td [(accurately)12.7 ( evaluates)12.8 ( the)12.8 ( job)12.7 ( targets)12.7 ( completing)12.7 ( performance)12.7 ( of)12.8 ( employees)12.8 ( by)22 ( )]TJ 0 -1.231 Td [(building)12.6 ( position)12.6 ( performance)12.6 ( targets)12.6 ( and)12.6 ( performance)12.6 ( standard,)12.6 ( and)12.5 ( realizes)22 ( )]TJ 0.053 Tc 0 -1.231 Td [(awards)12.1 ( and)12.1 ( punishments)12.1 ( according)12.1 ( to)12.1 ( the)12.1 ( score)12.1 ( that)12.1 ( is)12.1 ( formed)12.1 ( by)12.1 ( evaluation)28 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (results quantification.)Tj 0.06 Tc 0.07 Tw 0 -2.462 Td [(The)12.4 ( remuneration)12.4 ( package)12.4 ( of)12.4 ( our)12.4 ( employees)12.4 ( includes)12.4 ( salaries,)12.4 ( bonuses)12.4 ( and)35 ( )]TJ 0.055 Tc 0 -1.231 Td [(allowances.)12 ( Our)12 ( employees)12.1 ( also)12.1 ( receive)12 ( welfare)12 ( benefits,)12.1 ( including)12.1 ( medical)30 ( )]TJ 0.042 Tc 0 -1.231 Td [(care,)12.6 ( housing)12.7 ( subsidies,)12.7 ( retirement)12.7 ( and)12.7 ( other)12.7 ( benefits.)12.6 ( We)12.6 ( carry)12.7 ( out)12.6 ( employee)17 ( )]TJ 0.025 Tc 0.06 Tw 0 -1.231 Td (performance appraisals, establish diversified and dynamic appraisal mech\anisms. )Tj 0.034 Tw 0 -1.231 Td (The department heads\222 salaries and remunerations will be adjusted cor\responding )Tj 0 Tw 0 -1.231 Td (to the results of their performance appraisals.)Tj 0.039 Tc 0.07 Tw 0 -2.462 Td [(In)12.1 ( order)12.2 ( to)12.1 ( attract)12.2 ( and)12.2 ( retain)12.2 ( high-quality)12.2 ( employees)12.1 ( and)12.2 ( further)12.2 ( improve)12.2 ( their)14 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(knowledge,)3 ( )0.5 (skill)3 ( )0.5 (level)3 ( )0.5 (and)3 ( )0.5 (professional)3 ( )0.5 (attainments,)3 ( )0.5 (we)3 ( )0.5 (place)3 ( )0.5 (a)3.1 ( )0.5 (strong)3 ( )0.5 (emphasis)3 ( )]TJ 0.046 Tc 0.07 Tw 0 -1.231 Td [(on)12.3 ( the)12.3 ( training)12.3 ( of)12.3 ( our)12.3 ( employees.)12.3 ( We)12.3 ( offer)12.3 ( in-service)12.3 ( education,)12.3 ( training)12.3 ( and)21 ( )]TJ 0.025 Tc 0.061 Tw 0 -1.231 Td (other opportunities to our managers and employees to improve their profe\ssional )Tj 0 Tw 0 -1.231 Td (skills and knowledge.)Tj 0.067 Tc 0.07 Tw 0 -2.462 Td [(During)12.5 ( the)12.5 ( Reporting)12.5 ( Period,)12.5 ( the)12.5 ( Group)12.5 ( provided)12.5 ( )]TJ 0.055 Tc -0.055 Tw [(1)0.5 (8)]TJ 0.067 Tc 0.07 Tw 24.725 0 Td [( training)12.5 ( programs)12.5 ( on)42 ( )]TJ 0.025 Tc 0.051 Tw -24.725 -1.231 Td (operation management, professional techniques and production skills, wit\h )Tj -0.025 Tw (100%)Tj 0 Tc 0 Tw ( )Tj 0.025 Tc 0 -1.231 Td (employees training )Tj -0.025 Tw (rate.)Tj 0.031 Tw 0 -2.462 Td (The Group complies with the Labor Law of the PRC and the Labor Contract \Law )Tj 0.034 Tc 0.074 Tw 0 -1.231 Td [(of)9 ( )0.5 (the)9 ( )0.5 (PRC)9 ( )0.5 (in)9 ( )0.5 (all)9 ( material)9 ( )0.5 (respects)9 ( )0.5 (and)9 ( )0.5 (makes)9 ( )0.5 (contributions)9 ( )0.5 (to)9 ( )0.5 (social)9 ( )0.5 (insurance)9 ( )]TJ 0.056 Tc 0.07 Tw 0 -1.231 Td [(and)12.4 ( housing)12.4 ( provident)12.4 ( fund)12.4 ( for)12.4 ( our)12.4 ( employees)12.4 ( according)12.4 ( to)12.4 ( the)12.5 ( above)12.4 ( laws,)31 ( )]TJ 0.052 Tc 0 -1.231 Td [(among)12.1 ( which)12.1 ( the)12.2 ( social)12.2 ( insurance)12.2 ( includes)12.2 ( basic)12.2 ( pension)12.1 ( insurance,)12.2 ( medical)27 ( )]TJ 0.025 Tc 0.063 Tw 0 -1.231 Td (insurance, work-related injury insurance, unemployment insurance and mat\ernity )Tj -0.025 Tw 0 -1.231 Td (insurance.)Tj ET endstreamendobj86 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 67 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(V. )-883.5 (EMPLOYEES AND REMUNERATION POLICY)]TJ /T1_0 1 Tf 0.058 Tc 0.07 Tw 2.181 -2.462 Td [(As)12.8 ( at)12.9 ( 3)12.9 (0)12.8 ( June)12.9 ( 2)12.8 (0)12.9 (2)12.8 (6)12.9 (,)12.8 ( we)12.9 ( had)12.9 ( 9)12.9 (7)12.8 (4)12.9 ( employees,)12.9 ( substantially)12.9 ( all)12.8 ( of)12.9 ( whom)12.8 ( were)33.1 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(ba)0.5 (se)0.5 (d)1 ( )0.5 (i)0.5 (n)1 ( )0.5 (the)1 ( )0.5 (P)0.5 (RC)0.5 (.)1 ( )0.5 (T)0.5 (he)1 ( )0.5 (G)0.5 (ro)0.5 (up)1 ( )0.5 (h)0.5 (as)1 ( )0.5 (i)0.5 (ndi)0.5 (vi)0.5 (du)0.5 (al)0.5 (ly)1 ( )0.5 (e)0.5 (sta)0.5 (bl)0.5 (is)0.5 (he)0.5 (d)1 ( )0.5 (la)0.5 (bo)0.5 (r)1 ( )0.5 (un)0.5 (ion)1 ( )0.6 (bra)0.5 (nc)0.5 (he)0.5 (s.)1 ( )]TJ 0.091 Tc 0.07 Tw 0 -1.231 Td [(Currently,)12.5 ( the)12.6 ( Group)12.5 ( has)12.5 ( entered)12.5 ( into)12.5 ( employment)12.5 ( agreements)12.6 ( with)12.5 ( all)66.1 ( )]TJ 0.045 Tc 0 -1.231 Td [(employees,)12.8 ( in)12.9 ( which)12.9 ( the)12.9 ( position,)12.9 ( duties,)12.9 ( remuneration,)12.8 ( employment)12.9 ( benefits,)20 ( )]TJ 0.053 Tc 0 -1.231 Td [(t)0.5 (r)0.5 (ai)0.5 (n)0.5 (in)0.5 (g)0.5 (,)13 ( c)0.5 (o)0.5 (n)0.5 (f)0.5 (id)0.5 (e)0.5 (n)0.5 (ti)0.5 (a)0.5 (l)0.5 (it)0.5 (y)13 ( )0.5 (ob)0.5 (l)0.5 (ig)0.5 (a)0.5 (t)0.5 (io)0.5 (n)0.5 (s)13 ( )0.5 (re)0.5 (l)0.5 (a)0.5 (ti)0.5 (n)0.5 (g)13 ( t)0.5 (o)13 ( )0.5 (tr)0.5 (a)0.5 (d)0.5 (e)12.9 ( )0.5 (s)0.5 (e)0.5 (c)0.5 (r)0.5 (et)0.5 (s)13 ( )0.5 (a)0.5 (nd)13 ( )0.5 (g)0.5 (ro)0.5 (u)0.5 (nd)0.5 (s)13 ( )0.5 (f)0.5 (or)28 ( )]TJ 0.024 Tc 0 Tw 0 -1.231 Td [(termination are specified pursuant to the Labor Law of the PRC and other\ relevant)-1 ( )]TJ 0.025 Tc 0.08 Tw 0 -1.231 Td (regulations. For the six months ended 30 June 2026, the aggregate remune\ration )Tj 0.06 Tc 0.07 Tw 0 -1.231 Td [(of)12.4 ( the)12.4 ( Group\222s)12.4 ( employees)12.4 ( \(including)12.4 ( Directors\222)12.4 ( remuneration\))12.4 ( amounted)12.4 ( to)35 ( )]TJ 0.065 Tc 0 -1.231 Td [(approximately)12.7 ( RMB)12.8 (1)12.8 (9)12.7 (5)12.8 (.)12.8 (5)12.8 ( million)12.8 ( \(for)12.8 ( the)12.8 ( six)12.7 ( months)12.8 ( ended)12.8 ( 3)12.7 (0)12.8 ( June)12.8 ( 2)12.8 (0)12.7 (2)12.8 (5)12.8 (:)40 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (RMB162.1 million\).)Tj 0.081 Tw 0 -2.462 Td (The table below sets forth the number of employees as at 30 June 2026 by\ their )Tj -0.025 Tw 0 -1.231 Td (functions:)Tj /T1_1 1 Tf 0 -6.154 Td (Function)Tj 22.704 1.231 Td (Number)Tj 0 Tw -2.066 -1.231 Td (of employees)Tj -0.025 Tw 9.305 3.692 Td (Percentage)Tj 0 Tw 0.06 -1.231 Td (of the total)Tj 0.213 -1.231 Td (number of)Tj -0.025 Tw 0.084 -1.231 Td (employees)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 328.8189 466.6135 cm 0 0 m 99.213 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 420.8815 468.0145 Tm ( )Tj ET q 1 0 0 1 439.3701 466.6135 cm 0 0 m 99.213 0 l S Q BT 13 0 0 13 531.4327 468.0145 Tm ( )Tj /T1_0 1 Tf 0.025 Tc -34.338 -2.462 Td (Concession operation management )Tj -0.025 Tw 0.654 -1.231 Td (personnel)Tj 24.18 0 Td (330)Tj 6.846 0 Td (33.88%)Tj 0 Tw -31.68 -1.231 Td (Engineering and technical personnel)Tj -0.025 Tw 24.834 0 Td (195)Tj 6.846 0 Td (20.02%)Tj 0 Tw -31.68 -1.231 Td (Sales personnel)Tj -0.025 Tw 25.359 0 Td (61)Tj 6.846 0 Td (6.26%)Tj 0 Tw -32.205 -1.231 Td (Research and development personnel)Tj -0.025 Tw 24.834 0 Td (295)Tj 6.846 0 Td (30.29%)Tj 0 Tw -31.68 -1.231 Td (Administrative and management personnel)Tj -0.025 Tw 25.359 0 Td (71)Tj 6.846 0 Td (7.29%)Tj 0 Tw -32.205 -1.231 Td (Manufacture personnel)Tj -0.025 Tw 25.359 0 Td (18)Tj 6.846 0 Td (1.85%)Tj -32.205 -1.231 Td (Others)Tj 0 Tc 0 Tw 25.884 0 Td (4)Tj 0.025 Tc -0.025 Tw 6.321 0 Td (0.41%)Tj ET q 1 0 0 1 328.8189 319.6044 cm 0 0 m 99.213 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 420.8815 321.0054 Tm ( )Tj ET q 1 0 0 1 439.3701 319.6044 cm 0 0 m 99.213 0 l S Q BT 13 0 0 13 531.4327 321.0054 Tm ( )Tj 0.025 Tc -0.025 Tw -34.338 -2.462 Td (Total)Tj 24.834 0 Td (974)Tj 6.321 0 Td (100.00%)Tj ET 2.5 w q 1 0 0 1 328.819 283.4409 cm 0 0 m 99.213 0 l S Q 0.835 w q 1 0 0 1 328.819 280.1084 cm 0 0 m 99.213 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 323.1497 281.3419 Tm ( )Tj ET 2.5 w q 1 0 0 1 439.3702 283.4409 cm 0 0 m 99.213 0 l S Q 0.835 w q 1 0 0 1 439.3702 280.1084 cm 0 0 m 99.213 0 l S Q BT 13 0 0 13 433.7009 281.3419 Tm ( )Tj ET endstreamendobj85 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 66 \226)Tj /T1_1 1 Tf 13 0 0 13 85.0394 776.409 Tm (Cash flow risks)Tj /T1_0 1 Tf 0.035 Tc 0.073 Tw 0 -2.462 Td [(The)10 ( )0.5 (Group)10 ( )0.5 (had)10 ( )0.5 (positive)10 ( )0.5 (operating)10 ( )0.5 (cash)10 ( )0.5 (flows)10 ( )0.5 (for)10 ( )0.5 (the)10 ( )0.5 (six)10 ( )0.5 (months)10 ( )0.6 (ended)10 ( )0.5 (3)10 (0)10 ( )0.5 (June)10 ( )]TJ 0.049 Tc -0.049 Tw 0 -1.231 Td (202)Tj 0 Tc 0 Tw (6)Tj 0.062 Tc 0.07 Tw 2.197 0 Td [(.)12.8 ( The)12.8 ( Group)12.8 ( cannot)12.8 ( assure)12.8 ( that)12.8 ( its)12.8 ( operating)12.8 ( cash)12.8 ( flows)12.8 ( for)12.8 ( any)12.8 ( future)37 ( )]TJ 0.065 Tc -2.197 -1.231 Td [(period)12.3 ( will)12.3 ( be)12.3 ( positive.)12.3 ( The)12.3 ( Group\222s)12.3 ( ability)12.3 ( to)12.3 ( generate)12.3 ( cash)12.3 ( inflows)12.3 ( from)40 ( )]TJ 0.043 Tc 0 -1.231 Td [(operating)12.9 ( activities)12.8 ( in)12.9 ( the)12.8 ( future)12.8 ( will)12.9 ( depend)12.9 ( in)12.9 ( large)12.8 ( part)12.9 ( on)12.9 ( project)12.8 ( schedule)18 ( )]TJ 0.038 Tc 0 -1.231 Td [(and)12.5 ( billing)12.5 ( arrangement,)12.5 ( its)12.6 ( ability)12.5 ( to)12.5 ( collect)12.5 ( receivables)12.5 ( from)12.6 ( its)12.5 ( customers)12.5 ( in)13 ( )]TJ 0.025 Tc 0.08 Tw 0 -1.231 Td (a timely manner and the credit terms available to the Group. If the Grou\p is not )Tj 0.048 Tc 0.07 Tw 0 -1.231 Td [(able)12.7 ( to)12.7 ( generate)12.7 ( sufficient)12.6 ( cash)12.6 ( flows)12.7 ( from)12.7 ( its)12.6 ( operations)12.7 ( or)12.7 ( obtain)12.7 ( sufficient)23 ( )]TJ 0.04 Tc 0 -1.231 Td [(financing)12.2 ( to)12.1 ( support)12.1 ( its)12.1 ( business)12.1 ( operation,)12.1 ( the)12.2 ( Group\222s)12.1 ( growth)12.2 ( prospects)12.1 ( may)15 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.231 Td [(be)6 ( )0.5 (materially)6 ( )0.5 (and)6 ( )0.5 (adversely)6 ( )0.5 (affected.)6 ( )0.5 (The)6.1 ( )0.5 (Group)6 ( )0.5 (plans)6.1 ( )0.5 (to)6 ( )0.5 (implement)6 ( )0.5 (diversified)6 ( )]TJ 0 -1.231 Td [(measures)6 ( )0.5 (to)6 ( )0.5 (collect)6 ( )0.5 (receivables)6 ( )0.5 (in)6 ( )0.5 (order)6 ( )0.6 (to)6 ( )0.5 (significantly)6 ( )0.5 (improve)6 ( )0.5 (operating)5.9 ( )0.6 (cash)6 ( )]TJ 0.025 Tc 0.076 Tw 0 -1.231 Td (flow. In addition, the Group has been proactively seeking financing for \business )Tj 0.035 Tc 0.073 Tw 0 -1.231 Td [(development)10 ( )0.5 (and)10 ( )0.5 (expansion.)10 ( )0.5 (As)10 ( )0.5 (at)10 ( )0.5 (3)10 (0)10 ( )0.5 (June)10 ( )0.5 (2)10 (0)10 (2)10 (6)10 (,)10 ( )0.5 (the)10.1 ( )0.5 (Group)10 ( )0.5 (had)10 ( )0.5 (available)10 ( )0.6 (bank)10 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (credit facilities of RMB2.15 billion.)Tj /T1_1 1 Tf 0 -2.462 Td (Industry risks)Tj /T1_0 1 Tf 0.05 Tc 0.07 Tw 0 -2.462 Td [(The)12.1 ( Group\222s)12.1 ( business)12.1 ( primarily)12.1 ( focuses)12.1 ( on)12.1 ( the)12.1 ( environmental)12.1 ( protection)12.1 ( and)25 ( )]TJ 0.025 Tc 0.017 Tw 0 -1.231 Td (energy conservation for coal-fired power plants, and therefore the marke\t demand )Tj 0.059 Tc 0.07 Tw 0 -1.231 Td [(for)12.2 ( the)12.2 ( Group\222s)12.3 ( environmental)12.3 ( protection)12.2 ( and)12.3 ( energy)12.2 ( conservation)12.3 ( business)34 ( )]TJ 0.046 Tc 0 -1.231 Td [(relies)12.6 ( heavily)12.5 ( on)12.5 ( the)12.5 ( growth)12.6 ( rate)12.6 ( of)12.5 ( the)12.6 ( coal-fired)12.5 ( power)12.6 ( generation)12.6 ( output)12.5 ( in)20.9 ( )]TJ 0.042 Tc 0 -1.231 Td [(the)12.3 ( PRC.)12.3 ( In)12.3 ( particular,)12.2 ( the)12.3 ( revenue)12.3 ( generated)12.2 ( from)12.3 ( concession)12.3 ( operations)12.3 ( will)17 ( )]TJ 0.038 Tc 0 -1.231 Td [(be)13 ( dire)0.5 (ctl)0.5 (y)12.9 ( af)0.5 (fec)0.5 (ted)12.9 ( )0.5 (by)12.9 ( th)0.5 (e)12.9 ( po)0.5 (we)0.5 (r)12.9 ( ge)0.5 (nera)0.5 (tion)13 ( outp)0.5 (ut)12.9 ( of)13 ( co)0.5 (al-f)0.5 (ire)0.5 (d)12.9 ( pow)0.5 (er)12.9 ( )0.5 (plan)0.5 (ts.)13 ( )]TJ 0.025 Tc 0.068 Tw 0 -1.231 Td (As pollution has become an increasingly severe environmental issue in th\e PRC, )Tj 0.036 Tc 0.072 Tw 0 -1.231 Td [(the)11 ( )0.5 (PRC)11 ( )0.5 (government)11 ( )0.5 (has)11 ( )0.5 (shown)11 ( )0.5 (considerable)11 ( )0.5 (concern)11 ( )0.5 (for)11 ( )0.5 (the)11 ( )0.5 (adjustment)11 ( )0.5 (to)11 ( )0.5 (the)11 ( )]TJ 0.025 Tc 0.073 Tw 0 -1.231 Td (national energy structure and development. Therefore, there can be no as\surance )Tj 0.031 Tc 0.077 Tw 0 -1.231 Td [(t)0.5 (h)0.5 (a)0.6 (t)5.9 ( )0.6 (c)0.5 (o)0.5 (a)0.5 (l)0.5 (-)0.5 (f)0.6 (i)0.5 (r)0.5 (e)0.5 (d)6 ( )0.5 (p)0.5 (o)0.5 (w)0.6 (e)0.5 (r)6 ( )0.5 (g)0.5 (e)0.6 (n)0.5 (e)0.5 (r)0.5 (a)0.5 (t)0.5 (i)0.6 (o)0.5 (n)6 ( )0.5 (o)0.5 (u)0.5 (t)0.5 (p)0.5 (u)0.5 (t)6 ( )0.5 (i)0.5 (n)6.1 ( t)0.6 (h)0.5 (e)6 ( )0.5 (P)0.5 (R)0.5 (C)6 ( )0.5 (w)0.6 (i)0.5 (l)0.5 (l)6 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (t)0.6 (i)0.5 (n)0.5 (u)0.5 (e)6 ( )0.5 (t)0.5 (o)6 ( )0.5 (g)0.5 (r)0.6 (o)0.5 (w)6 ( )0.5 (a)0.5 (t)6 ( )0.5 (t)0.5 (h)0.5 (e)6.1 ( )]TJ 0.042 Tc 0.07 Tw 0 -1.231 Td [(current)12.5 ( pace.)12.5 ( If)12.5 ( the)12.5 ( increase)12.5 ( of)12.5 ( coal-fired)12.4 ( power)12.5 ( generation)12.5 ( output)12.5 ( in)12.5 ( the)12.5 ( PRC)17 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(s)0.5 (lo)0.5 (ws)7 ( )0.6 (do)0.5 (wn)0.5 (,)7 ( )0.5 (it)7 ( )0.5 (m)0.5 (ay)7 ( )0.5 (r)0.5 (e)0.5 (su)0.5 (lt)7.1 ( )0.5 (in)7 ( )0.5 (a)7 ( )0.5 (d)0.5 (ec)0.5 (r)0.5 (ea)0.5 (s)0.5 (e)7 ( )0.5 (o)0.5 (f)6.9 ( )0.6 (ut)0.5 (il)0.5 (iz)0.5 (a)0.5 (ti)0.5 (on)7 ( )0.5 (h)0.5 (ou)0.5 (r)0.5 (s)6.9 ( )0.6 (of)7 ( )0.5 (c)0.5 (oa)0.5 (l)0.5 (-f)0.5 (ir)0.5 (e)0.5 (d)7 ( )0.5 (po)0.5 (we)0.5 (r)7 ( )]TJ 0.025 Tc 0.026 Tw 0 -1.231 Td (generation units, or a lower demand for the Group\222s products and serv\ices, which )Tj 0.083 Tw 0 -1.231 Td [(will )0.5 (materially and )0.5 (adversely affect )0.5 (our )0.5 (business prospects, )0.5 (results )0.5 (of )0.5 (operations )]TJ 0.02 Tw 0 -1.231 Td (and financial position. The management of the Group is of the view that,\ in terms )Tj 0.038 Tc 0.07 Tw 0 -1.231 Td [(of)12.3 ( the)12.3 ( power)12.2 ( generation)12.3 ( portfolio)12.2 ( in)12.3 ( the)12.2 ( PRC,)12.2 ( coal-fired)12.3 ( power)12.3 ( generation)12.2 ( still)13 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 Td [(dominates)12 ( )0.5 (the)12 ( )0.5 (market.)12 ( )0.5 (In)12 ( )0.5 (addition,)12 ( )0.6 (the)12 ( )0.5 (vast)12 ( )0.5 (majority)12 ( )0.5 (of)12 ( )0.5 (the)12 ( )0.5 (Group\222s)12 ( )0.5 (concession)12 ( )]TJ 0.044 Tc 0.07 Tw 0 -1.231 Td [(operations)12.5 ( locate)12.5 ( in)12.4 ( coastal)12.4 ( areas)12.4 ( or)12.5 ( economically)12.4 ( developed)12.4 ( areas,)12.4 ( where)12.4 ( the)19 ( )]TJ 0.025 Tc 0.057 Tw 0 -1.231 Td [(utilization hours of coal-fired power )0.5 (generation are higher )0.5 (than the average level )]TJ 0.047 Tc 0.07 Tw 0 -1.231 Td [(nationwide.)12.9 ( The)12.8 ( Group)12.8 ( plans)12.9 ( to)12.9 ( actively)12.8 ( explore)12.8 ( clients)12.8 ( in)12.8 ( the)12.9 ( iron)12.9 ( and)12.8 ( steel,)22 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (cement and petrochemical industries.)Tj ET endstreamendobj42 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj43 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj44 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj45 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 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prospects, )Tj 0.037 Tc 0.071 Tw 0 -1.231 Td [(results)11.9 ( )0.6 (of)12 ( )0.5 (operations)12 ( )0.5 (and)12 ( )0.5 (financial)12.1 ( )0.5 (condition)12 ( )0.5 (of)12 ( )0.6 (the)12 ( )0.5 (Group.)12 ( )0.5 (The)12 ( )0.5 (management)12 ( )0.5 (of)12.1 ( )]TJ 0.025 Tc 0.023 Tw 0 -1.231 Td (the Group is of the view that it is unlikely for the PRC government to r\evise such )Tj 0.04 Tc 0.07 Tw 0 -1.231 Td [(environmental)12.5 ( protection)12.5 ( policies)12.4 ( to)12.4 ( result)12.5 ( in)12.4 ( an)12.4 ( adverse)12.5 ( effect)12.4 ( or)12.5 ( to)12.5 ( withdraw)15 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.231 Td [(any)11 ( )0.5 (resources)11 ( )0.5 (invested)11 ( )0.5 (in)11 ( )0.6 (the)11.1 ( )0.5 (environmental)11 ( )0.5 (protection)11 ( )0.5 (industry.)11 ( )0.5 (Moreover,)11 ( )0.5 (the)11 ( )]TJ 0.043 Tc 0.07 Tw 0 -1.231 Td [(Group,)12.6 ( as)12.5 ( a)12.6 ( trendsetter)12.6 ( and)12.5 ( leader)12.6 ( of)12.6 ( the)12.6 ( environmental)12.5 ( protection)12.6 ( and)12.5 ( energy)18 ( )]TJ 0.063 Tc 0 -1.231 Td [(conservation)12.3 ( for)12.3 ( the)12.3 ( PRC\222s)12.3 ( electric)12.3 ( power)12.3 ( industry,)12.2 ( has)12.3 ( participated)12.2 ( in)12.3 ( the)38 ( )]TJ 0.025 Tc 0.069 Tw 0 -1.231 Td (formulation of various industrial policies and standards, which allows i\t to catch )Tj 0 Tw 0 -1.231 Td (the latest industry trends and respond in a timely manner.)Tj /T1_1 1 Tf 0 -2.462 Td (Risks on connected transactions with China Datang Group)Tj /T1_0 1 Tf 0.037 Tc 0.071 Tw 0 -2.462 Td [(The)12 ( )0.5 (Group)12 ( )0.5 (has)12 ( )0.5 (been)12 ( )0.5 (conducting)12 ( )0.5 (various)12 ( )0.5 (transactions)12 ( )0.5 (with)12 ( )0.5 (China)12 ( )0.5 (Datang)12 ( )0.5 (Group)12 ( )]TJ 0.025 Tc 0.069 Tw 0 -1.231 Td (and its associates, and will continue to enter into such transactions in\ the future. )Tj 0.07 Tc 0.07 Tw 0 -1.231 Td [(For)12.8 ( the)12.8 ( six)12.7 ( months)12.8 ( ended)12.7 ( 3)12.8 (0)12.7 ( June)12.8 ( 2)12.8 (0)12.8 (2)12.7 (5)12.8 (,)12.7 ( the)12.8 ( total)12.8 ( value)12.7 ( of)12.8 ( goods)12.7 ( sold)12.7 ( and)45 ( )]TJ 0.042 Tc 0 -1.231 Td [(services)12.7 ( provided)12.7 ( by)12.7 ( the)12.7 ( Group)12.7 ( to)12.7 ( China)12.8 ( Datang)12.7 ( Group)12.7 ( and)12.7 ( its)12.7 ( associates)12.7 ( was)17 ( )]TJ 0.056 Tc 0 -1.231 Td [(approximately)12.4 ( RMB)12.3 (1)12.4 (,)12.4 (7)12.3 (9)12.4 (6)12.3 (.)12.4 (0)12.4 (4)12.3 ( million,)12.4 ( representing)12.4 ( approximately)12.4 ( 7)12.3 (4)12.4 (.)12.3 (5)12.4 (9)12.4 (%)12.3 ( of)31 ( )]TJ 0.025 Tc 0.063 Tw 0 -1.231 Td (the total revenue of the Group. For the six months ended 30 June 2026, t\he total )Tj 0.041 Tw 0 -1.231 Td (value of goods purchased and services received by the Group from China D\atang )Tj 0.03 Tc 0.078 Tw 0 -1.231 Td [(Group)5 ( )0.5 (and)5 ( )0.5 (its)5 ( )0.5 (associates)5 ( )0.5 (was)5 ( )0.5 (approximately)5 ( )0.5 (RMB)]TJ 0.025 Tc -0.025 Tw 21.819 0 Td (1,850.87)Tj 0.03 Tc 0.078 Tw [( )0.5 (million,)5 ( )0.5 (representing)5 ( )]TJ 0.025 Tc -0.025 Tw -21.819 -1.231 Td (approximately )Tj 6.377 0 Td (81.92)Tj 0 Tw (% of the total cost of the Group.)Tj ET endstreamendobj93 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 64 \226)Tj /T1_1 1 Tf 13 0 0 13 85.0394 776.409 Tm [(4. )-1105.5 (Cash Flows)]TJ /T1_0 1 Tf 0.046 Tc 0.07 Tw 2.181 -2.462 Td [(As)12.5 ( at)12.5 ( 3)12.6 (0)12.5 ( June)12.6 ( 2)12.6 (0)12.5 (2)12.6 (6)12.5 (,)12.6 ( the)12.6 ( Group\222s)12.6 ( cash)12.5 ( and)12.6 ( cash)12.5 ( equivalents)12.6 ( )]TJ -0.046 Tw (decreased)Tj 0.025 Tc 0.091 Tw 31.296 0 Td [( b)-20.9 (y )]TJ -0.025 Tw -31.296 -1.231 Td (18.6)Tj 0.081 Tw (% to RMB)Tj -0.025 Tw (1,490.1)Tj 0.081 Tw ( million as compared with RMB1,831.2 million as at )Tj 0.035 Tw 0 -1.231 Td (31 December 2025. Such )Tj -0.025 Tw (decrease )Tj 0.035 Tw 15.028 0 Td (was mainly attributable to the )Tj -0.025 Tw (increase)Tj 0.035 Tw ( in )Tj 0 Tw -15.028 -1.231 Td (the cash flow used in financing activities of the Group.)Tj /T1_1 1 Tf -2.18 -2.462 Td [(5. )-1105.5 (Working Capital)]TJ /T1_0 1 Tf 0.058 Tc 0.07 Tw 2.18 -2.462 Td [(As)12.2 ( at)12.2 ( 3)12.1 (0)12.2 ( June)12.1 ( 2)12.1 (0)12.1 (2)12.2 (6)12.1 (,)12.1 ( the)12.1 ( Group\222s)12.1 ( net)12.1 ( current)12.1 ( assets)12.2 ( )]TJ -0.058 Tw (increased)Tj 0.046 Tc 0.082 Tw 28.08 0 Td [( b)-12.3 (y )]TJ -0.046 Tw (32.4)Tj 0.025 Tc -0.025 Tw (% )Tj 0.057 Tc 0.07 Tw -28.08 -1.231 Td [(to)12.4 ( RMB)]TJ 0.045 Tc -0.045 Tw 3.638 0 Td [(2)0.5 (,6)0.5 (9)0.5 (1.)0.5 (5)]TJ 0.057 Tc 0.07 Tw 3.312 0 Td [( million)12.5 ( as)12.5 ( compared)12.5 ( with)12.5 ( RMB)12.5 (2)12.5 (,)12.5 (0)12.4 (3)12.5 (3)12.5 (.)12.5 (0)12.4 ( million)12.4 ( as)12.5 ( at)12.4 ( 3)12.5 (1)32 ( )]TJ 0.025 Tc 0.047 Tw -6.95 -1.231 Td (December 2025, primarily due to the )Tj (decrease in shor)Tj -0.025 Tw (t-t)Tj (erm)Tj 0.047 Tw ( interest-bearing )Tj 0 Tw 0 -1.231 Td (bank borrowings and other loans.)Tj /T1_1 1 Tf 1.106 Tw -2.18 -2.462 Td [(6. )0.5 (Indebtedness)]TJ /T1_0 1 Tf 0.082 Tc 0.07 Tw 2.18 -2.462 Td [(As)12.6 ( at)12.6 ( 3)12.5 (0)12.5 ( June)12.6 ( 2)12.5 (0)12.5 (2)12.6 (6)12.5 (,)12.5 ( the)12.5 ( Group\222s)12.5 ( borrowings)12.5 ( decreased)12.5 ( by)12.5 ( )]TJ 0.07 Tc -0.07 Tw [(2)0.5 (5)0.6 (.)0.5 (0)]TJ 0.025 Tc 0.127 Tw 30.543 0 Td [(%)-44.5 ( t)-57 (o )]TJ 0.077 Tc -0.077 Tw -30.543 -1.231 Td (RMB)Tj 0.065 Tc -0.065 Tw 2.442 0 Td (2,523.0)Tj 0.077 Tc 0.07 Tw [( million)12.2 ( as)12.2 ( compared)12.2 ( with)12.2 ( RMB)12.2 (3)12.2 (,)12.2 (3)12.2 (6)12.2 (2)12.2 (.)12.2 (1)12.2 ( million)12.2 ( as)12.2 ( at)12.2 ( 3)12.2 (1)52 ( )]TJ 0.025 Tc 0 Tw -2.442 -1.231 Td (December 2025.)Tj /T1_1 1 Tf -2.18 -2.462 Td [(7. )-1105.5 (Capital Expenditure)]TJ /T1_0 1 Tf 0.039 Tc 0.07 Tw 2.18 -2.462 Td [(The)12.5 ( Group\222s)12.5 ( capital)12.4 ( expenditure)12.4 ( decreased)12.5 ( by)12.5 ( )]TJ 0.027 Tc -0.027 Tw [(2)0.5 (9.)0.5 (9)]TJ 0.039 Tc 0.07 Tw [(%)12.5 ( to)12.4 ( RMB)]TJ 0.027 Tc -0.027 Tw 27.368 0 Td [(46)0.5 (.7)]TJ 0.039 Tc 0.07 Tw 1.856 0 Td [( million)14 ( )]TJ 0.025 Tc -29.224 -1.231 Td (for the six months ended 30 June 2026 as compared with RMB66.7 million )Tj 0 Tw 0 -1.231 Td (for the six months ended 30 June 2025.)Tj /T1_1 1 Tf -2.18 -2.462 Td [(8. )-1105.5 (Net Gearing Ratio)]TJ /T1_0 1 Tf 0.011 Tw 2.18 -2.462 Td (As at 30 June 2026, the Group\222s net gearing ratio \(net debt \(total \borrowings )Tj 0.033 Tc 0.075 Tw 0 -1.231 Td [(minus)8 ( )0.5 (cash)8 ( )0.6 (and)8 ( )0.5 (cash)8 ( )0.5 (equivalents\))8 ( )0.5 (divided)8 ( )0.5 (by)8 ( )0.5 (the)8 ( )0.5 (sum)8 ( )0.5 (of)8 ( )0.5 (net)8 ( )0.5 (debt)8 ( )0.6 (and)8 ( )0.5 (total)8 ( )]TJ 0.058 Tc 0.07 Tw 0 -1.231 Td [(e)0.5 (q)0.6 (u)0.5 (i)0.5 (t)0.5 (y)0.6 (\))13 ( )0.5 (w)0.6 (a)0.5 (s)13 ( )]TJ 0.045 Tc -0.045 Tw 5.693 0 Td (11.4)Tj 0.058 Tc 0.07 Tw [(%)0.5 (,)13 ( )0.6 (r)0.5 (e)0.5 (p)0.6 (r)0.5 (e)0.5 (s)0.6 (e)0.5 (n)0.5 (t)0.6 (i)0.5 (n)0.5 (g)13 ( )0.6 (a)13 ( )0.5 (d)0.5 (e)0.6 (c)0.5 (r)0.5 (e)0.6 (a)0.5 (s)0.6 (e)13 ( )0.5 (o)0.5 (f)13.1 ( )]TJ 0.045 Tc -0.045 Tw 15.936 0 Td (4.8)Tj 0.058 Tc 0.07 Tw [( )0.5 (p)0.5 (e)0.6 (r)0.5 (c)0.5 (e)0.6 (n)0.5 (t)0.5 (a)0.5 (g)0.6 (e)13 ( )0.5 (p)0.6 (o)0.5 (i)0.5 (n)0.5 (t)0.6 (s)13 ( )0.5 (a)0.6 (s)33 ( )]TJ 0.025 Tc 0 Tw -21.629 -1.231 Td (compared with )Tj -0.025 Tw (16.2)Tj 0 Tw (% as at 31 December 2025.)Tj ET endstreamendobj92 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 63 \226)Tj 11 0 0 11 113.3858 777.4196 Tm [(\(5\) )-1061 (Represents the aggregate amount of all intra- and inter-segment eliminat\ion.)]TJ 0.04 Tc 0.07 Tw 2.577 -2.455 Td [(The)12.7 ( following)12.8 ( table)12.8 ( sets)12.7 ( forth)12.7 ( a)12.7 ( breakdown)12.7 ( of)12.7 ( the)12.7 ( Group\222s)12.7 ( gross)12.8 ( profit)12.7 ( and)12.8 ( gross)14.9 ( )]TJ 0.044 Tc 0 -1.227 Td [(m)0.5 (ar)0.5 (gi)0.5 (n)12.9 ( )0.5 (by)13 ( )0.5 (ea)0.5 (c)0.5 (h)12.9 ( )0.5 (bu)0.5 (si)0.5 (ne)0.5 (s)0.5 (s)12.9 ( )0.5 (se)0.5 (g)0.5 (me)0.5 (nt)0.5 (/s)0.5 (ub)0.5 (-)0.5 (se)0.5 (gm)0.5 (en)0.5 (t)12.9 ( )0.5 (f)0.5 (or)13 ( t)0.5 (he)13 ( )0.5 (si)0.5 (x)12.9 ( )0.5 (mo)0.5 (nt)0.5 (hs)13 ( )0.5 (en)0.5 (de)0.5 (d)13 ( 3)13 (0)12.9 ( )0.5 (Ju)0.5 (ne)19.1 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.227 Td [(2)7 (0)7 (2)7 (6)7 ( )0.5 (and)7 ( )0.5 (3)7 (0)7 ( )0.5 (June)7 ( )0.5 (2)7 (0)7 (2)7 (5)7 (,)7 ( )0.5 (respectively,)7 ( )0.5 (as)7 ( )0.5 (well)7 ( )0.5 (as)7 ( )0.5 (the)7 ( )0.5 (percentage)7 ( )0.5 (of)7 ( )0.6 (change)7.1 ( )0.5 (in)7 ( )0.5 (gross)7 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.227 Td (profit:)Tj /T1_1 1 Tf 0 Tw 7.8 0 0 13 357.7684 680.9196 Tm (For the six months ended 30 June)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 294.8031 676.5095 cm 0 0 m 243.78 0 l S Q BT /T1_0 1 Tf 0 Tc 7.8 0 0 13 330.1982 677.9105 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 0.239 -1.038 Td (2026)Tj /T1_0 1 Tf 16.354 0 Td (2025)Tj ET q 1 0 0 1 294.8031 660.0004 cm 0 0 m 90.709 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 7.8 0 0 13 330.1982 661.4014 Tm ( )Tj ET q 1 0 0 1 396.8504 660.0004 cm 0 0 m 141.732 0 l S Q BT 7.8 0 0 13 432.2454 661.4014 Tm ( )Tj 0.025 Tc -18.348 -2.077 Td (Gross profit )Tj -0.025 Tw 4.5474 0 0 7.579 334.1315 639.6014 Tm (\(1\))Tj 0 Tw 7.8 0 0 13 342.8542 647.9014 Tm (Gross profit)Tj -0.025 Tw 1.224 -1.038 Td (margin )Tj 4.5474 0 0 7.579 379.9823 639.6014 Tm (\(2\))Tj /T1_0 1 Tf 0 Tw 7.8 0 0 13 391.1811 634.4014 Tm (Gross profit )Tj -0.025 Tw 4.5474 0 0 7.579 433.1446 639.6014 Tm (\(1\))Tj 0 Tw 7.8 0 0 13 447.9355 647.9014 Tm (Gross profit)Tj -0.025 Tw 1.113 -1.038 Td (margin )Tj 4.5474 0 0 7.579 482.0295 639.6014 Tm (\(2\))Tj 0 Tw 7.8 0 0 13 504.7467 647.9014 Tm (Change of)Tj -0.52 -1.038 Td (gross profit)Tj /T1_1 1 Tf -0.025 Tw 7.8 0 3.4833 13 299.4897 620.9014 Tm (RMB\222000)Tj 0 Tc 0 Tw 9.857 0 Td (%)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 3.336 0 Td (RMB\222000)Tj 0 Tc 0 Tw 9.914 0 Td (%)Tj 6.541 0 Td (%)Tj ET q 1 0 0 1 294.8031 616.4914 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 13 0 3.4833 13 289.1339 617.8924 Tm ( )Tj ET q 1 0 0 1 345.8268 616.4914 cm 0 0 m 39.685 0 l S Q BT 13 0 3.4833 13 340.1575 617.8924 Tm ( )Tj ET q 1 0 0 1 396.8504 616.4914 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 3.4833 13 391.1811 617.8924 Tm ( )Tj ET q 1 0 0 1 447.874 616.4914 cm 0 0 m 39.685 0 l S Q BT 13 0 3.4833 13 442.2047 617.8924 Tm ( )Tj ET q 1 0 0 1 498.8976 616.4914 cm 0 0 m 39.685 0 l S Q BT 13 0 3.4833 13 493.2283 617.8924 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 7.8 0 0 13 141.7323 590.8924 Tm (Environmental Protection and Energy )Tj 0.981 -1.038 Td (Conservation Solutions:)Tj /T1_0 1 Tf -0.981 -1.038 Td (Total gross profit of environmental )Tj 0.981 -1.038 Td (protection and energy conservation )Tj -0.025 Tw 0 -1.038 Td (solutions)Tj /T1_1 1 Tf 20.331 0 Td (567,339)Tj 8.116 0 Td (25.8)Tj /T1_0 1 Tf 4.966 0 Td (512,470)Tj 8.116 0 Td (21.8)Tj 6.541 0 Td (10.7)Tj ET q 1 0 0 1 294.8031 532.4823 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 7.8 0 0 13 330.1982 533.8833 Tm ( )Tj ET q 1 0 0 1 345.8267 532.4823 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 381.2218 533.8833 Tm ( )Tj ET q 1 0 0 1 396.8503 532.4823 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 7.8 0 0 13 432.2454 533.8833 Tm ( )Tj ET q 1 0 0 1 447.874 532.4823 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 483.269 533.8833 Tm ( )Tj ET q 1 0 0 1 498.8976 532.4823 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 534.2927 533.8833 Tm ( )Tj 0.015 Tc -50.328 -2.077 Td (Total gross profit of renewable energy )Tj -0.015 Tw 0.981 -1.038 Td (engineering)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 22.181 0 Td (618)Tj 6.266 0 Td (20.1)Tj /T1_0 1 Tf 5.491 0 Td (20,661)Tj 7.591 0 Td (46.8)Tj 6.158 0 Td (\(97.0\))Tj ET q 1 0 0 1 294.8031 488.9733 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 7.8 0 0 13 330.1982 490.3743 Tm ( )Tj ET q 1 0 0 1 345.8268 488.9733 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 381.2218 490.3743 Tm ( )Tj ET q 1 0 0 1 396.8504 488.9733 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 7.8 0 0 13 432.2454 490.3743 Tm ( )Tj ET q 1 0 0 1 447.874 488.9733 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 483.269 490.3743 Tm ( )Tj ET q 1 0 0 1 498.8976 488.9733 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 534.2927 490.3743 Tm ( )Tj 0.025 Tc -50.328 -2.077 Td (Total gross profit of thermal power )Tj -0.025 Tw 0.981 -1.038 Td (engineering)Tj /T1_1 1 Tf 0 Tc 0 Tw 23.231 0 Td (\226)Tj 6.541 0 Td (\226)Tj /T1_0 1 Tf 6.541 0 Td (\226)Tj 6.541 0 Td (\226)Tj 6.541 0 Td (\226)Tj ET q 1 0 0 1 294.8031 445.4642 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 7.8 0 0 13 330.1982 446.8652 Tm ( )Tj ET q 1 0 0 1 345.8268 445.4642 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 381.2218 446.8652 Tm ( )Tj ET q 1 0 0 1 396.8504 445.4642 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 7.8 0 0 13 432.2454 446.8652 Tm ( )Tj ET q 1 0 0 1 447.874 445.4642 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 483.269 446.8652 Tm ( )Tj ET q 1 0 0 1 498.8976 445.4642 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 534.2927 446.8652 Tm ( )Tj 0.025 Tc -50.328 -2.077 Td (Total gross profit of resource recycling )Tj -0.025 Tw 0.981 -1.038 Td (businesses)Tj /T1_1 1 Tf 20.856 0 Td (18,820)Tj 7.591 0 Td (44.1)Tj /T1_0 1 Tf 0 Tc 0 Tw 7.866 0 Td (\226)Tj 6.541 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.104 0 Td (New)Tj ET q 1 0 0 1 294.8032 401.9552 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 7.8 0 0 13 330.1982 403.3561 Tm ( )Tj ET q 1 0 0 1 345.8268 401.9552 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 381.2218 403.3561 Tm ( )Tj ET q 1 0 0 1 396.8504 401.9552 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 7.8 0 0 13 432.2455 403.3561 Tm ( )Tj ET q 1 0 0 1 447.874 401.9552 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 483.2691 403.3561 Tm ( )Tj ET q 1 0 0 1 498.8976 401.9552 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 534.2927 403.3561 Tm ( )Tj 0.025 Tc -0.025 Tw -50.328 -2.077 Td (Total )Tj 0 Tc 0 Tw 2.511 0 Td (\()Tj 0.025 Tc 0.358 0 Td (gross losses\) of other businesses)Tj /T1_1 1 Tf -0.025 Tw 18.585 0 Td (\(48,865)Tj 0 Tc 0 Tw (\))Tj 0.025 Tc -0.025 Tw 7.066 0 Td (\(154.3\))Tj /T1_0 1 Tf 6.016 0 Td (\(24,944\))Tj 7.066 0 Td (\(179.7\))Tj 7.449 0 Td (95.9)Tj ET q 1 0 0 1 294.8032 371.9461 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 7.8 0 0 13 330.1982 373.3471 Tm ( )Tj ET q 1 0 0 1 345.8268 371.9461 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 381.2218 373.3471 Tm ( )Tj ET q 1 0 0 1 396.8504 371.9461 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 7.8 0 0 13 432.2455 373.3471 Tm ( )Tj ET q 1 0 0 1 447.874 371.9461 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 483.2691 373.3471 Tm ( )Tj ET q 1 0 0 1 498.8976 371.9461 cm 0 0 m 39.685 0 l S Q BT 7.8 0 0 13 534.2927 373.3471 Tm ( )Tj 0.022 Tc -50.328 -2.077 Td (Total gross profit and gross profit margin)Tj -0.022 Tw 4.5474 0 0 7.579 277.965 351.5471 Tm (\(3\))Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 7.8 0 0 13 307.9684 346.3471 Tm (537,912)Tj 8.116 0 Td (23.8)Tj /T1_0 1 Tf 4.966 0 Td (508,187)Tj 8.116 0 Td (21.1)Tj 7.066 0 Td (5.8)Tj ET 2.5 w q 1 0 0 1 294.8033 340.7826 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 294.8033 337.4501 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 289.134 338.6835 Tm ( )Tj ET 2.5 w q 1 0 0 1 345.8269 340.7826 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 345.8269 337.4501 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 340.1576 338.6835 Tm ( )Tj ET 2.5 w q 1 0 0 1 396.8505 340.7826 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 396.8505 337.4501 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 391.1812 338.6835 Tm ( )Tj ET 2.5 w q 1 0 0 1 447.8741 340.7826 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 447.8741 337.4501 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 442.2048 338.6835 Tm ( )Tj ET 2.5 w q 1 0 0 1 498.8977 340.7826 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 498.8977 337.4501 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 493.2285 338.6835 Tm ( )Tj 0.025 Tc -0.025 Tw 11 0 2.9474 11 140.6035 312.3345 Tm (Notes:)Tj 0.07 Tw 11 0 0 11 141.7324 287.3345 Tm [(\(1\) )-991 (Calculated based on the revenue of each segment or sub-segment \(before \any )]TJ 0.023 Tw 2.577 -1.136 Td (intra- or inter-segment elimination\) minus the cost of sales of such se\gment or )Tj 0 Tw 0 -1.136 Td (sub-segment \(before any intra- or inter-segment elimination\).)Tj 0.082 Tc 0.07 Tw -2.577 -2.273 Td [(\()57 (2)57 (\))57 ( )-933.9 (Calculated)12.2 ( based)12.3 ( on)12.2 ( the)12.2 ( gross)12.3 ( profit)12.2 ( of)12.3 ( each)12.2 ( segment)12.2 ( or)12.3 ( sub-segment)57 ( )]TJ 0.025 Tc 0.014 Tw 2.577 -1.136 Td (calculated according to note \(1\) above divided by the revenue of such \segment )Tj 0 Tw 0 -1.136 Td (or sub-segment \(before any intra- or inter-segment elimination\).)Tj 0.046 Tc 0.07 Tw -2.577 -2.273 Td [(\()21 (3)21 (\))21 ( )-969.9 (Total)12.5 ( gross)12.5 ( profit)12.5 ( equals)12.5 ( total)12.5 ( revenue)12.5 ( \(being)12.6 ( the)12.5 ( revenue)12.5 ( reflected)12.5 ( on)12.5 ( our)21 ( )]TJ 0.05 Tc 2.577 -1.136 Td [(consolidated)12.2 ( statement)12.2 ( of)12.2 ( profit)12.2 ( or)12.2 ( loss)12.2 ( and)12.2 ( other)12.2 ( comprehensive)12.2 ( income\))25 ( )]TJ 0.025 Tc 0.047 Tw 0 -1.136 Td (minus total cost of sales \(being the cost of sales reflected on our con\solidated )Tj 0.041 Tc 0.07 Tw 0 -1.136 Td [(s)0.5 (t)0.5 (at)0.5 (e)0.5 (m)0.5 (en)0.5 (t)13 ( )0.5 (of)13 ( )0.5 (p)0.5 (ro)0.5 (f)0.5 (i)0.5 (t)12.9 ( )0.5 (o)0.5 (r)13 ( l)0.5 (o)0.5 (s)0.5 (s)12.9 ( )0.5 (a)0.5 (n)0.5 (d)12.9 ( )0.5 (o)0.5 (t)0.5 (he)0.5 (r)13 ( )0.5 (c)0.5 (om)0.5 (p)0.5 (re)0.5 (h)0.5 (e)0.5 (n)0.5 (si)0.5 (v)0.5 (e)13 ( i)0.5 (n)0.5 (c)0.5 (om)0.5 (e)0.5 (\))0.5 (.)12.9 ( )0.5 (O)0.5 (v)0.5 (e)0.5 (ra)0.5 (l)0.5 (l)13 ( g)0.5 (r)0.5 (o)0.5 (ss)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.136 Td (profit margin equals total gross profit divided by total revenue.)Tj ET endstreamendobj91 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 62 \226)Tj /T1_1 1 Tf 6.5 0 0 13 367.5891 770.8479 Tm (For the six months ended 30 June)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 294.8031 766.4468 cm 0 0 m 243.78 0 l S Q BT /T1_0 1 Tf 0 Tc 13 0 0 13 327.3382 767.8478 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 6.5 0 0 13 333.4137 751.8479 Tm (2026)Tj /T1_0 1 Tf 15.7 0 Td (2025)Tj ET q 1 0 0 1 294.8031 747.4379 cm 0 0 m 90.709 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 327.3381 748.8389 Tm ( )Tj ET q 1 0 0 1 396.8503 747.4379 cm 0 0 m 90.709 0 l S Q BT 13 0 0 13 429.3854 748.8389 Tm ( )Tj 0.025 Tc -0.025 Tw 6.5 0 0 13 309.6845 684.8389 Tm (Revenue)Tj 6.721 3.692 Td (Percentage)Tj 0 Tw 1.468 -1.231 Td ( of total)Tj -3.207 -1.231 Td (revenue before)Tj -0.025 Tw 0.866 -1.231 Td (elimination)Tj 3.7895 0 0 7.579 380.9038 690.0389 Tm (\(1\))Tj /T1_0 1 Tf 6.5 0 0 13 412.8172 684.8389 Tm (Revenue)Tj 6.887 3.692 Td (Percentage)Tj 0 Tw 1.576 -1.231 Td (of total)Tj -3.258 -1.231 Td (revenue before)Tj -0.025 Tw 0.754 -1.231 Td (elimination)Tj 3.7895 0 0 7.579 482.951 690.0389 Tm (\(1\))Tj 6.5 0 0 13 517.9128 684.8389 Tm (Change)Tj /T1_1 1 Tf 6.5 0 3.4833 13 305.1002 668.8389 Tm (RMB\222000)Tj 0 Tc 0 Tw 11.166 0 Td (%)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 4.644 0 Td (RMB\222000)Tj /T1_1 1 Tf 0 Tc 0 Tw 11.056 0 Td (%)Tj 7.85 0 Td (%)Tj ET q 1 0 0 1 294.8029 664.4378 cm 0 0 m 39.685 0 l S Q BT 13 0 3.4833 13 327.338 665.8388 Tm ( )Tj ET q 1 0 0 1 345.8266 664.4378 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3616 665.8388 Tm ( )Tj ET q 1 0 0 1 396.8502 664.4378 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 3.4833 13 429.3853 665.8388 Tm ( )Tj ET q 1 0 0 1 447.8738 664.4378 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4089 665.8388 Tm ( )Tj ET q 1 0 0 1 498.8974 664.4378 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4325 665.8388 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 6.5 0 0 13 113.3856 633.8389 Tm (Total revenue before intra- and inter-segment elimination)Tj -0.025 Tw 3.7895 0 0 7.579 282.962 639.0389 Tm (\(4\))Tj 6.5 0 0 13 307.188 633.8389 Tm (2,278,709)Tj 10.5 0 Td (100)Tj /T1_0 1 Tf 5.2 0 Td (2,433,380)Tj 9.7 0 Td (100.0)Tj 8.517 0 Td (\(6.4\))Tj ET 2.5 w q 1 0 0 1 294.8029 628.2743 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 294.8029 624.9418 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 327.338 626.1753 Tm ( )Tj ET 2.5 w q 1 0 0 1 345.8266 628.2743 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 345.8266 624.9418 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3616 626.1753 Tm ( )Tj ET 2.5 w q 1 0 0 1 396.8502 628.2743 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 396.8502 624.9418 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 429.3853 626.1753 Tm ( )Tj ET 2.5 w q 1 0 0 1 447.8738 628.2743 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 447.8738 624.9418 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4089 626.1753 Tm ( )Tj ET 2.5 w q 1 0 0 1 498.8974 628.2743 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 498.8974 624.9418 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4325 626.1753 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 6.5 0 0 13 113.3856 594.1753 Tm (Total intra- and inter-segment elimination)Tj -0.025 Tw 3.7895 0 0 7.579 237.5668 599.3753 Tm (\(5\))Tj 6.5 0 0 13 313.3111 594.1753 Tm (\(19,335\))Tj /T1_0 1 Tf 15.7 0 Td (\(25,533\))Tj ET 2.5 w q 1 0 0 1 294.8029 588.6107 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 294.8029 585.2782 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 327.338 586.5117 Tm ( )Tj ET 2.5 w q 1 0 0 1 345.8266 588.6107 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 345.8266 585.2782 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3616 586.5117 Tm ( )Tj ET 2.5 w q 1 0 0 1 396.8502 588.6107 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 396.8502 585.2782 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 429.3853 586.5117 Tm ( )Tj ET 2.5 w q 1 0 0 1 447.8738 588.6107 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 447.8738 585.2782 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4089 586.5117 Tm ( )Tj ET 2.5 w q 1 0 0 1 498.8974 588.6107 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 498.8974 585.2782 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4325 586.5117 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 6.5 0 0 13 113.3856 554.5118 Tm (Total revenue)Tj -0.025 Tw 29.816 0 Td (2,259,374)Tj /T1_0 1 Tf 15.7 0 Td (2,407,847)Tj 18.217 0 Td (\(6.2\))Tj ET 2.5 w q 1 0 0 1 294.8029 548.9472 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 294.8029 545.6147 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 327.338 546.8482 Tm ( )Tj ET 2.5 w q 1 0 0 1 345.8266 548.9472 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 345.8266 545.6147 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3616 546.8482 Tm ( )Tj ET 2.5 w q 1 0 0 1 396.8502 548.9472 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 396.8502 545.6147 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 429.3853 546.8482 Tm ( )Tj ET 2.5 w q 1 0 0 1 447.8738 548.9472 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 447.8738 545.6147 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4089 546.8482 Tm ( )Tj ET 2.5 w q 1 0 0 1 498.8974 548.9472 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 498.8974 545.6147 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4325 546.8482 Tm ( )Tj 0.025 Tc -0.025 Tw 11 0 2.9474 11 112.2567 518.4991 Tm (Notes:)Tj 0.071 Tw 11 0 0 11 113.3856 490.4992 Tm [(\(1\) )-990 (Represents the revenue of each business segment or sub-segment \(before \any intra- )]TJ 0.083 Tw 2.577 -1.273 Td [(or )0.5 (inter-segment )0.5 (elimination\) )0.5 (as )0.5 (a )0.5 (percentage )0.5 (of )0.5 (the total )0.5 (revenue )0.5 (before )0.5 (any intra- )]TJ 0 Tw 0 -1.273 Td (or inter-segment elimination.)Tj 0.065 Tc 0.07 Tw -2.577 -2.545 Td [(\()40 (2)40 (\))40 ( )-950.9 (Intra-segment)12.1 ( elimination)12.1 ( of)12.1 ( revenue)12.2 ( from)12.2 ( subsegments)12.2 ( under)12.1 ( environmental)40 ( )]TJ 2.577 -1.273 Td [(protection)12.4 ( and)12.4 ( energy)12.5 ( conservation)12.5 ( solutions)12.5 ( segment)12.5 ( mainly)12.4 ( arises)12.4 ( from)12.5 ( the)40 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.273 Td [(intra-segment)4 ( )0.5 (sales)4 ( )0.5 (between)4 ( )0.5 (denitrification)4 ( )0.5 (catalysts)4 ( )0.5 (sub-segment)4 ( )0.5 (to)4 ( )0.5 (denitrification)4 ( )]TJ 0.025 Tc 0.08 Tw 0 -1.273 Td (facilities engineering sub-segment and environmental protection facility\ concession )Tj 0 Tw 0 -1.273 Td (operation, respectively.)Tj 0.031 Tc 0.077 Tw -2.577 -2.545 Td [(\()6 (3)6 (\))6 ( )-977.9 (Inter-segment)6 ( )0.5 (elimination)6 ( )0.5 (of)6 ( )0.5 (revenue)6 ( )0.5 (from)6 ( )0.5 (other)6 ( )0.5 (businesses)6 ( )0.5 (segment)6 ( )0.5 (mainly)6 ( )0.5 (arises)6 ( )]TJ 2.577 -1.273 Td [(from)6 ( )0.5 (the)6 ( )0.5 (inter-segment)6 ( )0.5 (sales)6 ( )0.5 (between)6 ( )0.6 (other)6 ( )0.5 (businesses)6 ( )0.5 (segment)6 ( )0.5 (and)6 ( )0.5 (environmental)6 ( )]TJ 0.025 Tc 0 Tw 0 -1.273 Td (protection and energy conservation solutions segment, respectively.)Tj 1.061 Tw -2.577 -2.545 Td (\(4\) Represe)Tj 0.001 Tw [(nts )0.6 (the )0.5 (aggregate )0.5 (amount )0.5 (of )0.6 (the )0.5 (revenue )0.5 (of )0.6 (all )0.5 (segments/sub-segments )0.5 (before )]TJ 0 Tw 2.577 -1.227 Td (any intra- or inter-segment elimination.)Tj ET endstreamendobj90 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 61 \226)Tj /T1_1 1 Tf 6.5 0 0 13 367.5891 770.8479 Tm (For the six months ended 30 June)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 294.8031 766.4468 cm 0 0 m 243.78 0 l S Q BT /T1_0 1 Tf 0 Tc 13 0 0 13 327.3382 767.8478 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 6.5 0 0 13 333.4137 751.8479 Tm (2026)Tj /T1_0 1 Tf 15.7 0 Td (2025)Tj ET q 1 0 0 1 294.8031 747.4379 cm 0 0 m 90.709 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 327.3381 748.8389 Tm ( )Tj ET q 1 0 0 1 396.8503 747.4379 cm 0 0 m 90.709 0 l S Q BT 13 0 0 13 429.3854 748.8389 Tm ( )Tj 0.025 Tc -0.025 Tw 6.5 0 0 13 309.6845 684.8389 Tm (Revenue)Tj 6.721 3.692 Td (Percentage)Tj 0 Tw 1.468 -1.231 Td ( of total)Tj -3.207 -1.231 Td (revenue before)Tj -0.025 Tw 0.866 -1.231 Td (elimination)Tj 3.7895 0 0 7.579 380.9038 690.0389 Tm (\(1\))Tj /T1_0 1 Tf 6.5 0 0 13 412.8172 684.8389 Tm (Revenue)Tj 6.887 3.692 Td (Percentage)Tj 0 Tw 1.576 -1.231 Td (of total)Tj -3.258 -1.231 Td (revenue before)Tj -0.025 Tw 0.754 -1.231 Td (elimination)Tj 3.7895 0 0 7.579 482.951 690.0389 Tm (\(1\))Tj 6.5 0 0 13 517.9128 684.8389 Tm (Change)Tj /T1_1 1 Tf 6.5 0 3.4833 13 305.1002 668.8389 Tm (RMB\222000)Tj 0 Tc 0 Tw 11.166 0 Td (%)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 4.644 0 Td (RMB\222000)Tj /T1_1 1 Tf 0 Tc 0 Tw 11.056 0 Td (%)Tj 7.85 0 Td (%)Tj ET q 1 0 0 1 294.8029 664.4378 cm 0 0 m 39.685 0 l S Q BT 13 0 3.4833 13 327.338 665.8388 Tm ( )Tj ET q 1 0 0 1 345.8266 664.4378 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3616 665.8388 Tm ( )Tj ET q 1 0 0 1 396.8502 664.4378 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 3.4833 13 429.3853 665.8388 Tm ( )Tj ET q 1 0 0 1 447.8738 664.4378 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4089 665.8388 Tm ( )Tj ET q 1 0 0 1 498.8974 664.4378 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4325 665.8388 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 6.5 0 0 13 113.3856 633.8389 Tm (Thermal Power Engineering:)Tj /T1_0 1 Tf 0 -1.231 Td (Total revenue of thermal power engineering)Tj /T1_1 1 Tf 0 Tc 33.516 0 Td (0)Tj 7.85 0 Td (\226)Tj /T1_0 1 Tf 7.85 0 Td (0)Tj 7.85 0 Td (\226)Tj 7.85 0 Td (0)Tj 0.025 Tc -0.025 Tw -64.915 -1.231 Td (Inte)Tj (r-s)Tj 0 Tw (egment elimination)Tj /T1_1 1 Tf 0 Tc 33.516 0 Td (\226)Tj /T1_0 1 Tf 15.7 0 Td (\226)Tj ET q 1 0 0 1 294.8029 597.4288 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 13 0 0 13 327.338 598.8298 Tm ( )Tj ET q 1 0 0 1 345.8265 597.4288 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3616 598.8298 Tm ( )Tj ET q 1 0 0 1 396.8501 597.4288 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 429.3852 598.8298 Tm ( )Tj ET q 1 0 0 1 447.8737 597.4288 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4088 598.8298 Tm ( )Tj ET q 1 0 0 1 498.8974 597.4288 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4324 598.8298 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 6.5 0 0 13 113.3856 566.8298 Tm (External revenue of thermal power engineering)Tj 0 Tc 33.516 0 Td (0)Tj /T1_0 1 Tf 15.7 0 Td (0)Tj 15.7 0 Td (0)Tj ET 2.5 w q 1 0 0 1 294.8028 561.2653 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 294.8028 557.9327 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 13 0 0 13 327.3379 559.1663 Tm ( )Tj ET 2.5 w q 1 0 0 1 345.8264 561.2653 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 345.8264 557.9327 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3615 559.1663 Tm ( )Tj ET 2.5 w q 1 0 0 1 396.8501 561.2653 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 396.8501 557.9327 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 429.3851 559.1663 Tm ( )Tj ET 2.5 w q 1 0 0 1 447.8737 561.2653 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 447.8737 557.9327 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4088 559.1663 Tm ( )Tj ET 2.5 w q 1 0 0 1 498.8973 561.2653 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 498.8973 557.9327 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4324 559.1663 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 6.5 0 0 13 113.3855 527.1663 Tm (Resource Recycling Businesses:)Tj /T1_0 1 Tf 0 -1.231 Td (Total revenue of resource )Tj -0.025 Tw (recycling)Tj 0 Tw ( businesses)Tj /T1_1 1 Tf -0.025 Tw 31.141 0 Td (42,699)Tj 9.425 0 Td (1.9)Tj /T1_0 1 Tf 0 Tc 0 Tw 8.65 0 Td (\226)Tj 7.85 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.412 0 Td (New)Tj -63.477 -1.231 Td (Inte)Tj 0 Tc 0 Tw (r)Tj 2.013 0 Td (-)Tj 0.358 0 Td (s)Tj 0.025 Tc -0.025 Tw 0.414 0 Td (egment)Tj 0 Tc 0 Tw ( )Tj 0.025 Tc -0.025 Tw 3.369 0 Td (elimination)Tj /T1_1 1 Tf 0 Tc 0 Tw 27.362 0 Td (\226)Tj /T1_0 1 Tf 15.7 0 Td (\226)Tj ET 0.5 w q 1 0 0 1 294.8028 490.7562 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 13 0 0 13 327.3379 492.1572 Tm ( )Tj ET q 1 0 0 1 345.8264 490.7562 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3615 492.1572 Tm ( )Tj ET q 1 0 0 1 396.8501 490.7562 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 429.3851 492.1572 Tm ( )Tj ET q 1 0 0 1 447.8737 490.7562 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4088 492.1572 Tm ( )Tj ET q 1 0 0 1 498.8973 490.7562 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4324 492.1572 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 6.5 0 0 13 113.3855 460.1572 Tm (External)Tj 0 Tc 0 Tw ( )Tj 0.025 Tc -0.025 Tw 4.197 0 Td (revenue)Tj 0 Tw ( of )Tj (resource recycling)Tj ( businesses)Tj -0.025 Tw 26.944 0 Td (42,699)Tj /T1_0 1 Tf 0 Tc 0 Tw 18.075 0 Td (\226)Tj 0.025 Tc -0.025 Tw 14.262 0 Td (New)Tj ET 2.5 w q 1 0 0 1 294.8028 454.5927 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 294.8028 451.2602 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 289.1335 452.4937 Tm ( )Tj ET 2.5 w q 1 0 0 1 345.8264 454.5927 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 345.8264 451.2602 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 340.1572 452.4937 Tm ( )Tj ET 2.5 w q 1 0 0 1 396.8501 454.5927 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 396.8501 451.2602 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 391.1808 452.4937 Tm ( )Tj ET 2.5 w q 1 0 0 1 447.8737 454.5927 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 447.8737 451.2602 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 442.2044 452.4937 Tm ( )Tj ET 2.5 w q 1 0 0 1 498.8973 454.5927 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 498.8973 451.2602 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 493.228 452.4937 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 6.5 0 0 13 113.3855 420.4937 Tm (Other Businesses:)Tj 0 -1.231 Td (Total revenue of other businesses)Tj -0.025 Tw 31.141 0 Td (31,665)Tj 9.425 0 Td (1.4)Tj /T1_0 1 Tf 6.275 0 Td (39,417)Tj 9.425 0 Td (1.6)Tj 6.942 0 Td (\(19.7\))Tj 0 Tw -63.207 -1.231 Td (Inter-segment elimination)Tj -0.025 Tw 3.7895 0 0 7.579 184.7872 393.6936 Tm (\(3\))Tj /T1_1 1 Tf 6.5 0 0 13 313.3109 388.4937 Tm (\(19,335\))Tj /T1_0 1 Tf 15.7 0 Td (\(25,533\))Tj ET 0.5 w q 1 0 0 1 294.8028 384.0836 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 327.3379 385.4846 Tm ( )Tj ET q 1 0 0 1 345.8264 384.0836 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3615 385.4846 Tm ( )Tj ET q 1 0 0 1 396.8501 384.0836 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 429.3851 385.4846 Tm ( )Tj ET q 1 0 0 1 447.8737 384.0836 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4088 385.4846 Tm ( )Tj ET q 1 0 0 1 498.8973 384.0836 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4324 385.4846 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 6.5 0 0 13 113.3855 353.4846 Tm (External revenue of other businesses)Tj -0.025 Tw 31.141 0 Td (12,330)Tj /T1_0 1 Tf 15.7 0 Td (13,884)Tj 16.367 0 Td (\(11.2\))Tj ET 2.5 w q 1 0 0 1 294.8028 347.92 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 294.8028 344.5876 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 327.3379 345.821 Tm ( )Tj ET 2.5 w q 1 0 0 1 345.8264 347.92 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 345.8264 344.5876 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3615 345.821 Tm ( )Tj ET 2.5 w q 1 0 0 1 396.8501 347.92 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 396.8501 344.5876 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 429.3851 345.821 Tm ( )Tj ET 2.5 w q 1 0 0 1 447.8737 347.92 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 447.8737 344.5876 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4088 345.821 Tm ( )Tj ET 2.5 w q 1 0 0 1 498.8973 347.92 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 498.8973 344.5876 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4324 345.821 Tm ( )Tj ET endstreamendobj37 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj38 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj39 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj40 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj41 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj99 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 60 \226)Tj /T1_1 1 Tf 13 0 0 13 85.0394 776.409 Tm [(3. )-1105.5 (Results on Business Segments)]TJ /T1_0 1 Tf 0.061 Tc 0.07 Tw 2.181 -2.462 Td [(The)12.1 ( following)12.2 ( table)12.2 ( sets)12.2 ( forth)12.2 ( a)12.2 ( breakdown)12.2 ( of)12.2 ( the)12.2 ( Group\222s)12.1 ( revenue)12.2 ( by)35.9 ( )]TJ 0.025 Tc 0.01 Tw 0 -1.231 Td (segment/sub-segment and their respective percentage of total revenue for\ the )Tj 0.033 Tc 0.075 Tw 0 -1.231 Td [(six)8 ( )0.6 (months)8 ( )0.5 (ended)8 ( )0.5 (3)8 (0)8 ( )0.5 (June)8 ( )0.5 (2)8 (0)8 (2)8 (6)8 ( )0.5 (and)8 ( )0.5 (3)8 (0)8 ( )0.5 (June)8 ( )0.5 (2)8 (0)8 (2)8 (5)8 (,)8 ( )0.5 (respectively,)8 ( )0.5 (as)8 ( )0.5 (well)8 ( )0.5 (as)8 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (the percentage of change:)Tj /T1_1 1 Tf 6.5 0 0 13 367.5891 664.409 Tm (For the six months ended 30 June)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 294.8031 659.9989 cm 0 0 m 243.78 0 l S Q BT /T1_0 1 Tf 0 Tc 13 0 0 13 327.3382 661.3999 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 6.5 0 0 13 333.4137 645.4 Tm (2026)Tj /T1_0 1 Tf 15.7 0 Td (2025)Tj ET q 1 0 0 1 294.8031 640.9899 cm 0 0 m 90.709 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 327.3381 642.3909 Tm ( )Tj ET q 1 0 0 1 396.8503 640.9899 cm 0 0 m 90.709 0 l S Q BT 13 0 0 13 429.3854 642.3909 Tm ( )Tj 0.025 Tc -0.025 Tw 6.5 0 0 13 309.6845 578.3909 Tm (Revenue)Tj 6.721 3.692 Td (Percentage)Tj 0 Tw 1.468 -1.231 Td ( of total)Tj -3.207 -1.231 Td (revenue before)Tj -0.025 Tw 0.866 -1.231 Td (elimination)Tj 3.7895 0 0 7.579 380.9038 583.5909 Tm (\(1\))Tj /T1_0 1 Tf 6.5 0 0 13 412.8172 578.3909 Tm (Revenue)Tj 6.887 3.692 Td (Percentage)Tj 0 Tw 1.576 -1.231 Td (of total)Tj -3.258 -1.231 Td (revenue before)Tj -0.025 Tw 0.754 -1.231 Td (elimination)Tj 3.7895 0 0 7.579 482.951 583.5909 Tm (\(1\))Tj 6.5 0 0 13 517.9128 578.3909 Tm (Change)Tj /T1_1 1 Tf 6.5 0 3.4833 13 305.1002 562.3909 Tm (RMB\222000)Tj 0 Tc 0 Tw 11.166 0 Td (%)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 4.644 0 Td (RMB\222000)Tj /T1_1 1 Tf 0 Tc 0 Tw 11.056 0 Td (%)Tj 7.85 0 Td (%)Tj ET q 1 0 0 1 294.8029 557.9808 cm 0 0 m 39.685 0 l S Q BT 13 0 3.4833 13 327.338 559.3818 Tm ( )Tj ET q 1 0 0 1 345.8266 557.9808 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3616 559.3818 Tm ( )Tj ET q 1 0 0 1 396.8502 557.9808 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 3.4833 13 429.3853 559.3818 Tm ( )Tj ET q 1 0 0 1 447.8738 557.9808 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4089 559.3818 Tm ( )Tj ET q 1 0 0 1 498.8974 557.9808 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4325 559.3818 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 6.5 0 0 13 113.3856 527.3818 Tm (Environmental Protection and Energy Conservation )Tj -0.025 Tw 1.003 -1.231 Td (Solutions:)Tj /T1_0 1 Tf 0 Tw -1.003 -1.231 Td (Total revenue of environmental protection and energy )Tj 1.003 -1.231 Td (conservation solutions before elimination)Tj /T1_1 1 Tf -0.025 Tw 28.813 0 Td (2,201,271)Tj 10.225 0 Td (96.6)Tj /T1_0 1 Tf 5.475 0 Td (2,349,854)Tj 10.225 0 Td (96.6)Tj 7.992 0 Td (\(6.3\))Tj 0 Tw -63.732 -1.231 Td (Intra-segment elimination)Tj -0.025 Tw 3.7895 0 0 7.579 184.7873 468.5818 Tm (\(2\))Tj /T1_1 1 Tf 0 Tc 0 Tw 6.5 0 0 13 331.238 463.3818 Tm (\226)Tj /T1_0 1 Tf 15.7 0 Td (\226)Tj ET q 1 0 0 1 294.8029 458.9717 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 13 0 0 13 327.338 460.3727 Tm ( )Tj ET q 1 0 0 1 345.8266 458.9717 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3616 460.3727 Tm ( )Tj ET q 1 0 0 1 396.8502 458.9717 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 429.3853 460.3727 Tm ( )Tj ET q 1 0 0 1 447.8738 458.9717 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4089 460.3727 Tm ( )Tj ET q 1 0 0 1 498.8974 458.9717 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4325 460.3727 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 6.5 0 0 13 113.3856 428.3727 Tm (Total revenue of environmental protection and energy )Tj 1.003 -1.231 Td (conservation solutions after intra\226segment elimination)Tj -0.025 Tw 28.813 0 Td (2,201,271)Tj /T1_0 1 Tf 15.7 0 Td (2,349,854)Tj 18.217 0 Td (\(6.3\))Tj 0 Tw -63.732 -1.231 Td (Inter-segment elimination)Tj /T1_1 1 Tf 0 Tc 33.516 0 Td (\226)Tj /T1_0 1 Tf 15.7 0 Td (\226)Tj ET q 1 0 0 1 294.8029 391.9626 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 13 0 0 13 327.338 393.3636 Tm ( )Tj ET q 1 0 0 1 345.8266 391.9626 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3616 393.3636 Tm ( )Tj ET q 1 0 0 1 396.8502 391.9626 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 429.3853 393.3636 Tm ( )Tj ET q 1 0 0 1 447.8738 391.9626 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4089 393.3636 Tm ( )Tj ET q 1 0 0 1 498.8974 391.9626 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4325 393.3636 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 6.5 0 0 13 113.3856 361.3636 Tm (External revenue of environmental protection and energy )Tj 1.003 -1.231 Td (conservation solutions)Tj -0.025 Tw 28.813 0 Td (2,201,271)Tj /T1_0 1 Tf 15.7 0 Td (2,349,854)Tj 18.217 0 Td (\(6.3\))Tj ET 2.5 w q 1 0 0 1 294.8029 339.7991 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 294.8029 336.4666 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 327.338 337.7001 Tm ( )Tj ET 2.5 w q 1 0 0 1 345.8266 339.7991 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 345.8266 336.4666 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3616 337.7001 Tm ( )Tj ET 2.5 w q 1 0 0 1 396.8502 339.7991 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 396.8502 336.4666 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 429.3853 337.7001 Tm ( )Tj ET 2.5 w q 1 0 0 1 447.8738 339.7991 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 447.8738 336.4666 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4089 337.7001 Tm ( )Tj ET 2.5 w q 1 0 0 1 498.8974 339.7991 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 498.8974 336.4666 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4325 337.7001 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 6.5 0 0 13 113.3856 305.7001 Tm (Renewable Energy Engineering:)Tj /T1_0 1 Tf 0 -1.231 Td (Total revenue of renewable energy engineering)Tj /T1_1 1 Tf -0.025 Tw 31.666 0 Td (3,074)Tj 8.9 0 Td (0.1)Tj /T1_0 1 Tf 6.275 0 Td (44,109)Tj 9.425 0 Td (1.8)Tj 6.942 0 Td (\(93.0\))Tj 0 Tw -63.207 -1.231 Td (Inter-segment elimination)Tj /T1_1 1 Tf 0 Tc 33.516 0 Td (\226)Tj /T1_0 1 Tf 15.7 0 Td (\226)Tj ET 0.5 w q 1 0 0 1 294.8029 269.29 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 13 0 0 13 327.338 270.691 Tm ( )Tj ET q 1 0 0 1 345.8266 269.29 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3616 270.691 Tm ( )Tj ET q 1 0 0 1 396.8502 269.29 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 429.3853 270.691 Tm ( )Tj ET q 1 0 0 1 447.8738 269.29 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4089 270.691 Tm ( )Tj ET q 1 0 0 1 498.8974 269.29 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4325 270.691 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 6.5 0 0 13 113.3856 238.6911 Tm (External revenue of renewable energy engineering)Tj -0.025 Tw 31.666 0 Td (3,074)Tj /T1_0 1 Tf 15.175 0 Td (44,109)Tj 16.367 0 Td (\(93.0\))Tj ET 2.5 w q 1 0 0 1 294.8029 233.1265 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 294.8029 229.794 cm 0 0 m 39.685 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 327.338 231.0275 Tm ( )Tj ET 2.5 w q 1 0 0 1 345.8266 233.1265 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 345.8266 229.794 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 378.3616 231.0275 Tm ( )Tj ET 2.5 w q 1 0 0 1 396.8502 233.1265 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 396.8502 229.794 cm 0 0 m 39.685 0 l S Q BT /T1_0 1 Tf 13 0 0 13 429.3853 231.0275 Tm ( )Tj ET 2.5 w q 1 0 0 1 447.8738 233.1265 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 447.8738 229.794 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 480.4089 231.0275 Tm ( )Tj ET 2.5 w q 1 0 0 1 498.8974 233.1265 cm 0 0 m 39.685 0 l S Q 0.835 w q 1 0 0 1 498.8974 229.794 cm 0 0 m 39.685 0 l S Q BT 13 0 0 13 531.4325 231.0275 Tm ( )Tj ET endstreamendobj98 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 59 \226)Tj /T1_1 1 Tf 13 0 3.4833 13 112.0517 776.409 Tm (Profit before tax)Tj /T1_0 1 Tf 0.07 Tw 13 0 0 13 113.3858 744.409 Tm (As a result of the foregoing factors, the Group\222s profit before tax )Tj -0.025 Tw (increased)Tj 0 Tc 0 Tw ( )Tj 0.034 Tc -0.034 Tw 0 -1.231 Td [(b)-12 (y)0.5 ( )]TJ 1.445 0 Td [(4)0.5 (.)0.5 (2)]TJ 0.046 Tc 0.07 Tw 1.351 0 Td [(%)12.5 ( to)12.5 ( RMB)]TJ 0.034 Tc -0.034 Tw 4.804 0 Td [(3)0.5 (8)0.5 (4)0.5 (.)0.5 (0)]TJ 0.046 Tc 0.07 Tw 2.418 0 Td [( million)12.5 ( for)12.5 ( the)12.5 ( six)12.5 ( months)12.5 ( ended)12.6 ( 3)12.5 (0)12.5 ( June)12.5 ( 2)12.5 (0)12.5 (2)12.5 (6)12.5 ( as)21 ( )]TJ 0.025 Tc 0 Tw -10.018 -1.231 Td (compared with RMB368.5 million for the same period in 2025.)Tj /T1_1 1 Tf 13 0 3.4833 13 112.0517 680.409 Tm (Income tax expense)Tj /T1_0 1 Tf 0.03 Tc 0.078 Tw 13 0 0 13 113.3858 648.409 Tm [(The)5 ( )0.5 (Group\222s)5 ( )0.5 (income)5 ( )0.5 (tax)5 ( )0.5 (expense)5 ( )0.5 (was)5 ( )0.5 (RMB)]TJ 0.025 Tc -0.025 Tw 19.069 0 Td (55.2)Tj 0.03 Tc 0.078 Tw [( )0.5 (million)5 ( )0.5 (for)5 ( )0.5 (the)5 ( )0.5 (six)5 ( )0.5 (months)5 ( )]TJ 0.055 Tc 0.07 Tw -19.069 -1.231 Td [(e)0.5 (nde)0.5 (d)12.9 ( 3)13 (0)12.9 ( )0.5 (Jun)0.5 (e)12.9 ( )0.5 (2)12.9 (0)12.9 (2)13 (6)12.9 (,)13 ( r)0.5 (epr)0.5 (es)0.5 (en)0.5 (tin)0.5 (g)12.9 ( )0.5 (a)12.9 ( )0.5 (dec)0.5 (re)0.5 (as)0.5 (e)12.9 ( )0.5 (of)13 ( )]TJ 0.042 Tc -0.042 Tw (2.5)Tj 0.055 Tc 0.07 Tw [(%)13 ( a)0.5 (s)12.9 ( )0.5 (co)0.5 (mpa)0.5 (re)0.5 (d)12.9 ( )0.5 (wi)0.5 (th)30 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (RMB56.6 million for the same period in 2025.)Tj /T1_1 1 Tf 13 0 3.4833 13 112.0517 584.409 Tm (Profit for the period)Tj /T1_0 1 Tf 0.074 Tc 0.07 Tw 13 0 0 13 113.3858 552.409 Tm [(The)12.5 ( Group\222s)12.4 ( profit)12.4 ( for)12.4 ( the)12.5 ( Reporting)12.4 ( Period)12.4 ( )]TJ -0.074 Tw (increased)Tj 0.062 Tc 0.082 Tw 25.894 0 Td [( b)-12 (y )]TJ -0.062 Tw [(5)0.5 (.4)]TJ 0.074 Tc 0.07 Tw [(%)12.5 ( from)48.9 ( )]TJ 0.049 Tc -25.894 -1.231 Td [(RMB)12.8 (3)12.8 (1)12.8 (1)12.8 (.)12.8 (9)12.8 ( million)12.8 ( for)12.8 ( the)12.8 ( six)12.8 ( months)12.8 ( ended)12.8 ( 3)12.8 (0)12.8 ( June)12.8 ( 2)12.8 (0)12.8 (2)12.8 (5)12.8 ( to)12.8 ( RMB)]TJ 0.036 Tc -0.036 Tw 30.313 0 Td (328.8)Tj 0 Tc 0 Tw 2.42 0 Td ( )Tj 0.025 Tc 0.029 Tw -32.732 -1.231 Td (million for the six months ended 30 June 2026. For the six months ended \30 )Tj 0.028 Tw 0 -1.231 Td (June 2026, the Group\222s profit for the Reporting Period as a percentag\e of its )Tj 0.039 Tw 0 -1.231 Td (total revenue )Tj -0.025 Tw (increased)Tj 0.039 Tw ( to )Tj -0.025 Tw (14.6)Tj 0.039 Tw (%, compared to 13.0% for the same period in )Tj -0.025 Tw 0 -1.231 Td (2025.)Tj /T1_1 1 Tf 0 Tw 13 0 3.4833 13 112.0517 440.409 Tm (Profit attributable to owners of the parent)Tj /T1_0 1 Tf 0.077 Tc 0.07 Tw 13 0 0 13 113.3858 408.409 Tm [(The)12.2 ( profit)12.3 ( attributable)12.2 ( to)12.3 ( owners)12.3 ( of)12.3 ( the)12.3 ( parent)12.3 ( )]TJ -0.077 Tw (increased)Tj 0.065 Tc 0.082 Tw 27.177 0 Td [( b)-12.2 (y )]TJ -0.065 Tw (0.9)Tj 0.025 Tc 0.122 Tw [(%)-39.7 ( t)-52.2 (o )]TJ -0.025 Tw -27.177 -1.231 Td (RMB)Tj (286.3)Tj 0.027 Tw ( million for the six months ended 30 June 2026 as compared with )Tj -0.025 Tw 0 -1.231 Td (RMB)Tj (283.7)Tj 0 Tw ( million for the same period in 2025.)Tj /T1_1 1 Tf 13 0 3.4833 13 112.0517 344.409 Tm (Profit attributable to non-controlling interests)Tj /T1_0 1 Tf 0.044 Tc 0.07 Tw 13 0 0 13 113.3858 312.409 Tm [(The)12.8 ( profit)12.9 ( attributable)12.9 ( to)12.9 ( non-controlling)12.8 ( interests)12.8 ( increased)12.8 ( by)12.8 ( )]TJ 0.031 Tc -0.031 Tw (50.9)Tj 0.025 Tc 0.089 Tw [(%)-6.2 ( t)-18.7 (o )]TJ -0.025 Tw 0 -1.231 Td (RMB)Tj (42.5)Tj 0.07 Tw ( million for the six months ended 30 June 2026 as compared with )Tj 0 Tw 0 -1.231 Td (RMB28.2 million for the same period in 2025.)Tj ET endstreamendobj97 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 58 \226)Tj /T1_1 1 Tf 13 0 3.4833 13 112.0517 776.409 Tm (Selling and distribution expenses)Tj /T1_0 1 Tf 0.013 Tw 13 0 0 13 113.3858 744.409 Tm (The Group\222s selling and distribution expenses )Tj -0.025 Tw (increased)Tj 0.013 Tw ( by )Tj -0.025 Tw (4.5)Tj 0.013 Tw (% to RMB)Tj -0.025 Tw (6.1)Tj 0 Tc 0 Tw ( )Tj 0.035 Tc 0.073 Tw 0 -1.231 Td [(million)10 ( )0.5 (for)10 ( )0.5 (the)10 ( )0.5 (six)10 ( )0.5 (months)10 ( )0.5 (ended)10 ( )0.5 (3)10 (0)10 ( )0.5 (June)10 ( )0.5 (2)10 (0)10 (2)10 (6)10 ( )0.5 (as)10 ( )0.6 (compared)10 ( )0.5 (with)10.1 ( )0.5 (RMB)10 (5)10 (.)10 (8)10 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 Td [(million)12 ( )0.5 (for)12 ( )0.5 (the)12 ( )0.5 (same)12 ( )0.5 (period)12 ( )0.5 (in)12 ( )0.5 (2)12 (0)12 (2)12 (5)12 (,)12 ( )0.5 (mainly)12 ( )0.5 (attributable)12 ( )0.5 (to)12 ( )0.5 (the)12 ( )]TJ -0.037 Tw 27.973 0 Td (increase)Tj 0.025 Tc 0.083 Tw 3.562 0 Td [( )0.5 (i)-12.3 (n )]TJ -0.025 Tw -31.535 -1.231 Td (remuneration )Tj 0 Tw 5.907 0 Td (of personnel)Tj ( during the Reporting Period.)Tj /T1_1 1 Tf 13 0 3.4833 13 112.0516 664.409 Tm (Administrative expenses)Tj /T1_0 1 Tf 0.055 Tc 0.07 Tw 13 0 0 13 113.3858 632.409 Tm [(The)12.4 ( Group\222s)12.3 ( administrative)12.3 ( expenses)12.3 ( increased)12.3 ( by)12.3 ( )]TJ 0.043 Tc -0.043 Tw (19.6)Tj 0.055 Tc 0.07 Tw [(%)12.3 ( to)12.4 ( RMB)]TJ 0.043 Tc -0.043 Tw 30.287 0 Td (196.0)Tj 0 Tc 0 Tw 2.446 0 Td ( )Tj 0.025 Tc 0.027 Tw -32.732 -1.231 Td (million for the six months ended 30 June 2026 as compared with RMB163.8 \)Tj 0.03 Tc 0.078 Tw 0 -1.231 Td [(million)5 ( )0.5 (for)5 ( )0.5 (the)5 ( )0.5 (same)5 ( )0.5 (period)5 ( )0.5 (in)5 ( )0.5 (2)5 (0)5 (2)5 (5)5 (,)5 ( )0.5 (mainly)5 ( )0.5 (due)5 ( )0.5 (to)5 ( )0.5 (the)5 ( )]TJ 24.308 0 Td [(bonus)5 ( )0.5 (payment)5 ( )0.5 (and)5 ( )]TJ 0.044 Tc 0.07 Tw -24.308 -1.231 Td [(increase)12.5 ( in)12.5 ( overheads)12.6 ( as)12.5 ( a)12.5 ( result)12.5 ( of)12.5 ( increased)12.5 ( investment)12.5 ( in)12.5 ( research)12.5 ( and)19 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (development during the Reporting Period.)Tj /T1_1 1 Tf 13 0 3.4833 13 112.0516 536.409 Tm (Other income and losses)Tj /T1_0 1 Tf 0.059 Tc 0.07 Tw 13 0 0 13 113.3858 504.409 Tm [(The)12.3 ( Group\222s)12.3 ( other)12.2 ( income)12.3 ( and)12.2 ( losses)12.3 ( decreased)12.3 ( by)12.2 ( )]TJ 0.047 Tc -0.047 Tw (37.7)Tj 0.059 Tc 0.07 Tw [(%)12.3 ( to)12.2 ( RMB)]TJ 0.047 Tc -0.047 Tw 30.817 0 Td (46.1)Tj 0 Tc 0 Tw 1.915 0 Td ( )Tj 0.025 Tc 0.07 Tw -32.732 -1.231 Td (million for the six months ended 30 June 2026 as compared with RMB74.0 )Tj 0.088 Tc 0 -1.231 Td [(million)12.7 ( for)12.6 ( the)12.7 ( same)12.7 ( period)12.6 ( in)12.6 ( 2)12.6 (0)12.7 (2)12.7 (5)12.6 (,)12.7 ( mainly)12.7 ( due)12.7 ( to)12.6 ( the)12.7 ( decrease)12.7 ( in)63 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (government grants)Tj ( compared with the same period of last year.)Tj /T1_1 1 Tf 13 0 3.4833 13 112.0516 424.409 Tm (Finance costs)Tj /T1_0 1 Tf 0.08 Tw 13 0 0 13 113.3858 392.409 Tm (The Group\222s finance costs decreased by )Tj -0.025 Tw (31.6)Tj 0.08 Tw (% to RMB)Tj -0.025 Tw (31.1)Tj 0.08 Tw ( million for the )Tj 0.07 Tw 0 -1.231 Td (six months ended 30 June 2026 as compared with RMB45.5 million for the )Tj 0.032 Tc 0.076 Tw 0 -1.231 Td [(same)7 ( )0.5 (period)7 ( )0.5 (in)7 ( )0.5 (2)7 (0)7 (2)7 (5)7 (,)7 ( )0.5 (mainly)7 ( )0.5 (due)7 ( )0.5 (to)7 ( )0.5 (the)7 ( )0.5 (decrease)6.9 ( )0.6 (in)7 ( the)7 ( )0.5 (annualized)7 ( )0.5 (interest)7 ( )]TJ 0.024 Tc 0 Tw 0 -1.231 Td [(rate of the Group\222s current borrowing)0.5 (s compared with the annua)0.5 (lized interest)-1 ( )]TJ 0.025 Tc 0 -1.231 Td (rate of the borrowings in the same period of last year.)Tj /T1_1 1 Tf -0.025 Tw 13 0 3.4833 13 112.0516 296.409 Tm (Net )Tj 0 Tw 1.849 0 Td (reversal of )Tj (impairment losses on financial assets and contract assets)Tj /T1_0 1 Tf 0.063 Tc 0.07 Tw 13 0 0 13 113.3858 264.409 Tm [(The)12.2 ( Group\222s)12.2 ( net)12.3 ( reversal)12.2 ( of)12.2 ( impairment)12.2 ( losses)12.2 ( on)12.2 ( financial)12.2 ( assets)12.2 ( and)38 ( )]TJ 0.066 Tc 0 -1.231 Td [(contract)12.7 ( assets)12.6 ( increased)12.7 ( by)12.6 ( 2)12.7 (,)12.6 (1)12.7 (6)12.6 (6)12.7 (.)12.6 (7)12.7 (%)12.7 ( to)12.7 ( RMB)12.7 (3)12.7 (3)12.6 (.)12.7 (2)12.6 ( million)12.7 ( for)12.6 ( the)12.7 ( six)41 ( )]TJ 0.062 Tc 0 -1.231 Td [(months)13 ( ended)12.9 ( )0.5 (3)12.9 (0)12.9 ( June)12.9 ( )0.5 (2)12.9 (0)12.9 (2)12.9 (6)12.9 ( as)13 ( compar)0.5 (ed)12.9 ( with)12.9 ( )0.5 (RMB)12.9 (1)12.9 (.)12.9 (5)12.9 ( )0.5 (million)12.9 ( for)13 ( the)37 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.231 Td [(same)10 ( )0.5 (period)10.1 ( in)10 ( )0.5 (2)10 (0)10 (2)10 (5)10 (,)10 ( )0.5 (mainly)9.9 ( )0.6 (due)10 ( )0.5 (to)9.9 ( )0.6 (the)10 ( )0.5 (recovery)10 ( )0.5 (and)10 ( )0.5 (settlement)10 ( )0.5 (of)10 ( )0.5 (certain)10 ( )]TJ 0.044 Tc -0.044 Tw 0 -1.231 Td (lon)Tj (g-o)Tj 0.07 Tw [(utstanding)12.2 ( trade)12.2 ( receivables)12.1 ( during)12.1 ( the)12.2 ( period,)12.1 ( which)12.1 ( resulted)12.1 ( in)12.1 ( a)19 ( )]TJ 0.025 Tc 0.073 Tw 0 -1.231 Td (decrease in expected credit losses. Of the net reversal of RMB33.2 milli\on, )Tj 0 Tw 0 -1.231 Td (RMB28.6 million was related to trade receivables from related parties.)Tj ET endstreamendobj96 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 57 \226)Tj /T1_1 1 Tf 1.106 Tw 13 0 0 13 85.0394 776.409 Tm [(1. )0.5 (Overview)]TJ /T1_0 1 Tf 0.067 Tw 2.181 -2.462 Td (The Group\222s revenue decreased by )Tj -0.025 Tw (6.2)Tj 0.067 Tw (% to RMB)Tj -0.025 Tw (2,259.4)Tj 0.067 Tw ( million for the six )Tj 0.029 Tc 0.079 Tw 0 -1.231 Td [(months)4 ( )0.5 (ended)4 ( )0.5 (3)4 (0)4 ( )0.5 (June)4 ( )0.5 (2)4 (0)4 (2)4 (6)4 ( )0.5 (as)4 ( )0.5 (compared)4 ( )0.5 (with)4 ( )0.5 (RMB)4 (2)4 (,)4 (4)4 (0)4 (7)4 (.)4 (8)4 ( )0.6 (million)4.1 ( )0.5 (for)4 ( )0.5 (the)4 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (same period in 2025.)Tj 0.073 Tc 0.07 Tw 0 -2.462 Td [(The)12.8 ( Group\222s)12.8 ( profit)12.7 ( for)12.7 ( the)12.7 ( six)12.7 ( months)12.8 ( ended)12.8 ( 3)12.8 (0)12.7 ( June)12.8 ( 2)12.8 (0)12.7 (2)12.8 (6)12.7 ( amounted)48 ( )]TJ 0.06 Tc 0 -1.231 Td [(to)12.3 ( RMB)]TJ 0.048 Tc -0.048 Tw 3.657 0 Td (328.8)Tj 0.06 Tc 0.07 Tw [( million,)12.4 ( representing)12.4 ( )]TJ [(an)12.4 ( increase)]TJ 18.066 0 Td [( of)12.4 ( RMB)]TJ 0.048 Tc -0.048 Tw 4.092 0 Td (16.9)Tj 0.06 Tc 0.07 Tw [( million)12.3 ( as)35 ( )]TJ 0.067 Tc -25.815 -1.231 Td [(compared)12.5 ( with)12.5 ( RMB)12.5 (3)12.4 (1)12.5 (1)12.5 (.)12.4 (9)12.5 ( million)12.5 ( for)12.5 ( the)12.5 ( same)12.4 ( period)12.5 ( in)12.5 ( 2)12.5 (0)12.5 (2)12.4 (5)12.5 (.)12.5 ( Profit)42 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.231 Td [(attributable )0.5 (to )0.5 (the owners )0.5 (of )0.5 (the )0.5 (parent )0.5 (amounted )0.5 (to )0.5 (RMB)]TJ -0.025 Tw (286.3)Tj 0.083 Tw [( )0.5 (million )0.5 (for )]TJ 0 Tw 0 -1.231 Td (the six months ended 30 June 2026.)Tj 0.046 Tc 0.07 Tw 0 -2.462 Td [(As)12.5 ( at)12.5 ( 3)12.6 (0)12.5 ( June)12.6 ( 2)12.6 (0)12.5 (2)12.6 (6)12.5 (,)12.6 ( the)12.6 ( Group\222s)12.6 ( cash)12.5 ( and)12.6 ( cash)12.5 ( equivalents)12.6 ( )]TJ -0.046 Tw (decreased)Tj 0.025 Tc 0.091 Tw 31.296 0 Td [( b)-20.9 (y )]TJ -0.025 Tw -31.296 -1.231 Td (18.6)Tj 0.081 Tw (% to RMB)Tj -0.025 Tw (1,490.1)Tj 0.081 Tw ( million as compared with RMB1,831.2 million as at )Tj 0 Tw 0 -1.231 Td (31 December 2025.)Tj 0 -2.462 Td [(Th)0.5 (e Gr)0.5 (oup\222)0.5 (s t)0.5 (otal)0.5 ( ass)0.5 (ets)0.5 ( dec)0.5 (re)0.5 (ased)0.5 ( by )]TJ -0.025 Tw 16.319 0 Td [(6.)0.5 (6)]TJ 0 Tw [(% to)0.5 ( RM)0.5 (B)]TJ -0.025 Tw [(13,6)0.5 (91.2)]TJ 0 Tw 9.551 0 Td [( m)0.5 (illio)0.5 (n as)0.5 ( at )0.5 (30 )]TJ -25.869 -1.231 Td (June 2026 as compared with RMB14,652.6 million as at 31 December 2025.)Tj 0.083 Tw 0 -2.462 Td [(The )0.5 (Group\222s total liabilities )0.5 (decreased )0.5 (by )]TJ -0.025 Tw 18.345 0 Td (15.6)Tj 0.083 Tw [(% )0.5 (to )0.5 (RMB)]TJ -0.025 Tw (5,665.8)Tj 0.083 Tw [( million )0.5 (as )]TJ 0.029 Tc 0.079 Tw -18.345 -1.231 Td [(at)4 ( )0.5 (3)4 (0)4 ( )0.5 (June)4 ( )0.5 (2)4 (0)4 (2)4.1 (6)4 ( )0.5 (as)4 ( )0.5 (compared)4 ( )0.5 (with)4 ( )0.5 (RMB)4 (6)4 (,)4 (7)4 (1)4 (2)4 (.)4 (7)4 ( )0.5 (million)4 ( )0.5 (as)4 ( )0.5 (at)4 ( )0.5 (3)4 (1)4 ( )0.5 (December)4.1 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (2025.)Tj 0.038 Tc 0.07 Tw 0 -2.462 Td [(The)12.4 ( Group\222s)12.3 ( return)12.3 ( on)12.4 ( total)12.3 ( assets)12.3 ( for)12.3 ( the)12.4 ( six)12.4 ( months)12.3 ( ended)12.4 ( 3)12.4 (0)12.4 ( June)12.3 ( 2)12.4 (0)12.3 (2)12.3 (6)13 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (was )Tj 1.905 0 Td (2.31)Tj 0 Tw (%, as compared with 2.07% for the same period in 2025.)Tj /T1_1 1 Tf -4.085 -2.462 Td [(2. )-1105.5 (Results of Operation)]TJ -0.025 Tw 13 0 3.4833 13 112.0517 328.409 Tm (Revenue)Tj /T1_0 1 Tf 0.067 Tw 13 0 0 13 113.3858 296.409 Tm (The Group\222s revenue decreased by )Tj -0.025 Tw (6.2)Tj 0.067 Tw (% to RMB)Tj -0.025 Tw (2,259.4)Tj 0.067 Tw ( million for the six )Tj 0.029 Tc 0.079 Tw 0 -1.231 Td [(months)4 ( )0.5 (ended)4 ( )0.5 (3)4 (0)4 ( )0.5 (June)4 ( )0.5 (2)4 (0)4 (2)4 (6)4 ( )0.5 (as)4 ( )0.5 (compared)4 ( )0.5 (with)4 ( )0.5 (RMB)4 (2)4 (,)4 (4)4 (0)4 (7)4 (.)4 (8)4 ( )0.6 (million)4.1 ( )0.5 (for)4 ( )0.5 (the)4 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.231 Td [(same )0.5 (period )0.5 (in 2025, )0.5 (primarily )0.5 (due )0.5 (to )0.5 (the decrease )0.5 (in )0.5 (construction services )]TJ 0 Tw 0 -1.231 Td (and desulfurisation and denitrification services)Tj ( operation income.)Tj /T1_1 1 Tf 13 0 3.4833 13 112.0517 216.409 Tm (Cost of sales)Tj /T1_0 1 Tf 0.032 Tw 13 0 0 13 113.3858 184.409 Tm (The Group\222s cost of sales decreased by )Tj -0.025 Tw (9.4)Tj 0.032 Tw (% to RMB)Tj -0.025 Tw (1,721.5)Tj 0.032 Tw ( million for the )Tj 0.03 Tc 0.078 Tw 0 -1.231 Td [(six)5 ( )0.5 (months)5 ( )0.5 (ended)5 ( )0.5 (3)5 (0)5 ( )0.5 (June)5 ( )0.5 (2)5 (0)5 (2)5 (6)5 ( )0.5 (as)5 ( )0.6 (compared)5 ( )0.5 (with)5 ( )0.5 (RMB)5 (1)5 (,)5 (8)5 (9)5 (9)5 (.)5 (7)5 ( )0.5 (million)5 ( )0.5 (for)5 ( )]TJ 0.025 Tc 0.047 Tw 0 -1.231 Td [(the )0.5 (same period )0.5 (in )0.5 (2025. )0.5 (The )0.5 (decrease )0.5 (in )0.5 (the cost )0.5 (of )0.5 (sales of )0.5 (the )0.5 (Group was )]TJ 0 Tw 0 -1.231 Td (due to the )Tj (dilution of unit fixed costs )Tj (during the Reporting Period.)Tj ET endstreamendobj95 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 56 \226)Tj 0.029 Tw 13 0 0 13 113.3858 776.0055 Tm (In the first half of 2026, the nationa)Tj -0.025 Tw (l-l)Tj 0.029 Tw (evel science and technology project in )Tj 0.006 Tw 0 -1.231 Td (the field of new energy solid waste, led by the Group \226 National Scie\nce and )Tj 0.039 Tc 0.07 Tw 0 -1.231 Td [(Technology)12.2 ( Major)12.2 ( Project)12.3 ( for)12.3 ( Comprehensive)12.3 ( Environmental)12.2 ( Governance)14 ( )]TJ 0.083 Tc 0 -1.231 Td [(in)12.6 ( the)12.5 ( Beijin)]TJ -0.083 Tw (g-T)Tj (ianji)Tj (n-H)Tj 0.07 Tw [(ebei)12.6 ( Region)12.6 ( \226)12.5 ( Research)12.6 ( and)12.6 ( Demonstration)58 ( )]TJ 0.061 Tc 0 -1.231 Td [(of)12.5 ( Key)12.6 ( Technologies)12.6 ( for)12.6 ( the)12.6 ( Construction)12.5 ( of)12.5 ( Green)12.6 ( Circular)12.6 ( Chain)12.6 ( for)36 ( )]TJ 0.038 Tc 0 -1.231 Td [(D)0.5 (e)0.5 (c)0.5 (o)0.5 (m)0.5 (m)0.5 (i)0.5 (s)0.5 (s)0.5 (i)0.5 (o)0.5 (n)0.5 (e)0.5 (d)13 ( )0.5 (W)0.5 (i)0.5 (n)0.5 (d)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (S)0.5 (o)0.5 (l)0.5 (a)0.5 (r)13 ( )0.5 (P)0.5 (o)0.5 (w)0.5 (e)0.5 (r)13 ( )0.5 (G)0.5 (e)0.5 (n)0.5 (e)0.5 (r)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (E)0.5 (q)0.5 (u)0.5 (i)0.5 (p)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (\()]TJ /C0_0 1 Tf 0.413 Tc -0.413 Tw 28.881 0 Td <052F0775128F>Tj 0.336 Tc -0.336 Tw -28.881 -1.231 Td [<1411>0.5 <0FA4>0.5 <105D>0.5 <03A5>0.5 <0637>0.5 <0B230A37>0.5 <0895>0.5 <07C5>0.5 <04A6>0.5 <0820>0.5 <027D>0.5 <0A59>0.5 <0DB0>172.8 <00D1>172.9 <09D7>0.5 <0498>0.5 <082C>0.5 <0388>0.5 <0E2D>0.5 <09900E55>0.5 <0CEF>0.5 <0F65>0.5 <0BA3>]TJ 0.305 Tc -0.305 Tw 0 -1.231 Td <0BEA1060040D0C43141115E10FF4071415EB149F04A60B9407BC04FA02BF036A11CD>Tj /T1_0 1 Tf 0.038 Tc 0.07 Tw 22.033 0 Td [(\))13 ( )0.5 (\226)13 ( )0.5 (m)0.5 (a)0.5 (d)0.5 (e)13 ( )0.5 (s)0.5 (o)0.5 (l)0.5 (i)0.5 (d)13 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (g)0.5 (r)0.5 (e)0.5 (s)0.5 (s)0.5 (.)13 ( )]TJ 0.025 Tc 0.063 Tw -22.033 -1.231 Td (Based on this project, a production line for the disposal of decommissio\ned )Tj 0.044 Tc 0.07 Tw 0 -1.231 Td [(wind)12.3 ( turbine)12.2 ( blades)12.2 ( and)12.3 ( photovoltaic)12.3 ( modules)12.2 ( with)12.3 ( an)12.2 ( annual)12.3 ( processing)19.1 ( )]TJ 0.025 Tc 0.058 Tw 0 -1.231 Td (capacity of 10,000 tonnes will be built. Meanwhile, the Green and Effici\ent )Tj 0.03 Tc 0.078 Tw 0 -1.231 Td [(Separation)5 ( )0.5 (Technology)5 ( )0.5 (and)5 ( )0.5 (Equipment)5 ( )0.6 (for)5 ( )0.5 (Photovoltaic)5.1 ( Module)5 ( )0.5 (Laminates)5 ( )]TJ 0 Tc 0 Tw 0 -1.231 Td (\()Tj /C0_0 1 Tf 0.218 Tc -0.218 Tw 0.474 0 Td <0388037F0B5C0381113413C003811060040D09F708D602B1154E03D3088104A60B94107E0F000BEA>Tj /T1_0 1 Tf 0.025 Tc 0 Tw 24.283 0 Td (\), submitted by the )Tj 0.031 Tw -24.757 -1.231 Td (Group, was successfully included in the list of key environmental protec\tion )Tj 0.074 Tw 0 -1.231 Td (technology and equipment innovation tasks by the Ministry of Industry an\d )Tj 0 Tw 0 -1.231 Td (Information Technology.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(5. )-1105.5 (Research and Development)]TJ /T1_0 1 Tf 0.034 Tw 2.181 -2.462 Td (In the first half of 2026, the Group obtained 15 patents, eight of which\ were )Tj 0.065 Tw 0 -1.231 Td [(invention patents, )0.5 (and )0.5 (the Group )0.5 (has )0.5 (accumulatively obtained )0.5 (1,408 patents )]TJ 0 Tw 0 -1.231 Td (in force.)Tj /T1_1 1 Tf -0.025 Tw -4.361 -2.462 Td (III.)Tj 0 Tc 0 Tw ( )Tj 0.115 Tc 0.07 Tw 2.18 0 Td [(MANAGEMENT)12.4 ( DISCUSSION)12.4 ( AND)12.4 ( ANALYSIS)12.4 ( ON)12.4 ( FINANCIAL)90 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (POSITION AND OPERATING RESULTS)Tj /T1_0 1 Tf 0.068 Tc 0.07 Tw 0 -2.462 Td [(The)12.8 ( following)12.8 ( discussion)12.8 ( should)12.9 ( be)12.8 ( read)12.8 ( in)12.9 ( conjunction)12.9 ( with)12.9 ( the)12.8 ( financial)43 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.231 Td [(info)0.5 (rmat)0.5 (ion)2 ( )0.5 (of)2 ( )0.5 (the)2 ( )0.5 (Gro)0.5 (up)2 ( )0.5 (toget)0.5 (her)2 ( )0.5 (wi)0.5 (th)2 ( t)0.5 (he)2 ( )0.5 (acc)0.5 (ompa)0.5 (nying)2 ( )0.5 (note)0.5 (s)2 ( )0.5 (includ)0.5 (ed)2 ( )0.5 (in)2 ( )0.5 (this)2 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (results announcement and other sections therein.)Tj 0.042 Tc 0.07 Tw 0 -2.462 Td [(There)12.8 ( are)12.8 ( inter-segment)12.8 ( sales)12.8 ( among)12.8 ( the)12.8 ( Group\222s)12.8 ( segments)12.8 ( and)12.9 ( sub-segments,)17 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(and)7 ( )0.5 (accordingly)7 ( )0.5 (the)7 ( )0.6 (Group)7 ( )0.5 (records)7 ( )0.5 (intra-segment)7 ( )0.5 (elimination)7 ( )0.5 (and)7 ( )0.5 (inter-segment)7 ( )]TJ 0.025 Tc 0.009 Tw 0 -1.231 Td (elimination among these segments/sub-segments for the relevant revenue a\nd cost )Tj 0.038 Tc 0.07 Tw 0 -1.231 Td [(of)12.2 ( sales.)12.2 ( In)12.2 ( this)12.2 ( results)12.2 ( announcement)12.1 ( unless)12.2 ( otherwise)12.1 ( specified)12.2 ( herein,)12.1 ( \(i\))12.2 ( all)13 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.231 Td [(discussion)2 ( )0.5 (about)2 ( )0.5 (total)2 ( )0.5 (revenue,)2 ( )0.5 (total)2 ( )0.5 (gross)2 ( )0.5 (profit)2 ( )0.5 (and)2 ( )0.5 (overall)2 ( )0.5 (gross)2 ( )0.5 (profit)2 ( )0.5 (margin)2 ( )]TJ 0.025 Tc 0.028 Tw 0 -1.231 Td (are based on the amounts after all intra- and inter-segment elimination \among the )Tj 0.052 Tw 0 -1.231 Td (segments/sub-segments \(being the figures reflected in our consolidated \statement )Tj 0.071 Tc 0.07 Tw 0 -1.231 Td [(o)0.5 (f)12.9 ( )0.5 (p)0.5 (r)0.5 (of)0.5 (i)0.5 (t)12.9 ( )0.5 (o)0.5 (r)13 ( l)0.5 (o)0.5 (s)0.5 (s)12.9 ( )0.5 (a)0.5 (n)0.5 (d)12.9 ( )0.5 (o)0.5 (th)0.5 (e)0.5 (r)13 ( )0.5 (co)0.5 (m)0.5 (pr)0.5 (e)0.5 (h)0.5 (en)0.5 (s)0.5 (i)0.5 (ve)13 ( )0.5 (i)0.5 (nc)0.5 (o)0.5 (m)0.5 (e\))0.5 (,)13 ( )0.5 (an)0.5 (d)13 ( )0.5 (\(i)0.5 (i)0.5 (\))12.9 ( )0.5 (a)0.5 (l)0.5 (l)12.9 ( )0.5 (d)0.5 (is)0.5 (c)0.5 (u)0.5 (s)0.5 (si)0.5 (o)0.5 (n)46 ( )]TJ 0.05 Tc 0 -1.231 Td [(about)12.4 ( the)12.4 ( revenue,)12.4 ( gross)12.4 ( profit)12.3 ( and)12.3 ( gross)12.4 ( profit)12.3 ( margin)12.4 ( of)12.4 ( business)12.4 ( segments)25 ( )]TJ 0 -1.231 Td [(and)12.1 ( subsegments)12.1 ( are)12.1 ( based)12.1 ( on)12.1 ( the)12.2 ( amounts)12.2 ( before)12.1 ( any)12.1 ( intra-)12.1 ( or)12.1 ( intersegment)25 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (elimination of such segment or sub-segment.)Tj ET endstreamendobj32 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 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l S Q BT /T1_2 1 Tf 0 Tc 0 Tw 10.4 0 0 13 308.2851 434.3902 Tm ( )Tj ET q 1 0 0 1 325.9843 432.9892 cm 0 0 m 62.362 0 l S Q BT 10.4 0 0 13 381.9859 434.3902 Tm ( )Tj ET q 1 0 0 1 399.6851 432.9892 cm 0 0 m 62.362 0 l S Q BT 10.4 0 0 13 455.6867 434.3902 Tm ( )Tj ET q 1 0 0 1 473.3859 432.9892 cm 0 0 m 65.197 0 l S Q BT 10.4 0 0 13 532.2222 434.3902 Tm ( )Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw -37.547 -2.462 Td (Total)Tj 12.426 0 Td (22,272.08)Tj 7.087 0 Td (36,953.69)Tj 7.087 0 Td (20,560.28)Tj 7.884 0 Td (7,747.78)Tj ET 2.5 w q 1 0 0 1 252.2836 396.8257 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 252.2836 393.4932 cm 0 0 m 62.362 0 l S Q BT 0 Tc 0 Tw 10.4 0 0 13 308.9258 394.7267 Tm ( )Tj ET 2.5 w q 1 0 0 1 325.9844 396.8257 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 325.9844 393.4932 cm 0 0 m 62.362 0 l S Q BT 10.4 0 0 13 382.6266 394.7267 Tm ( )Tj ET 2.5 w q 1 0 0 1 399.6852 396.8257 cm 0 0 m 62.362 0 l S Q 0.835 w q 1 0 0 1 399.6852 393.4932 cm 0 0 m 62.362 0 l S Q BT 10.4 0 0 13 456.3274 394.7267 Tm ( )Tj ET 2.5 w q 1 0 0 1 473.386 396.8257 cm 0 0 m 65.197 0 l S Q 0.835 w q 1 0 0 1 473.386 393.4932 cm 0 0 m 65.197 0 l S Q BT 10.4 0 0 13 532.8629 394.7267 Tm ( )Tj 0.035 Tc 0.073 Tw 13 0 0 13 141.7324 364.3776 Tm [(During)10 ( )0.5 (January)10 ( )0.5 (to)10.1 ( )0.5 (June)10 ( )0.6 (2)10 (0)10 (2)10 (6)10 (,)10 ( )0.5 (the)10 ( )0.5 (Group)10 ( )0.5 (sold)10 ( )0.6 (1)9.9 (5)10 (,)10.1 (8)10 (6)10 (2)10 (.)10 (8)10 (6)10 (m\263)10.1 ( of)10 ( )0.5 (catalyst)10 ( )]TJ 0.025 Tc 0.082 Tw 0 -1.231 Td (to customers other than China Datang Group, among which, 777.98m\263 )Tj 0.066 Tc 0.07 Tw 0 -1.231 Td [(of)12.3 ( catalyst)12.2 ( was)12.2 ( sold)12.2 ( to)12.3 ( overseas)12.3 ( customers.)12.2 ( The)12.3 ( Group)12.3 ( signed)12.3 ( 6)12.3 (9)41 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.231 Td [(catalyst)2 ( )0.5 (inspection)1.9 ( )0.5 (service)2 ( )0.5 (contracts)2 ( )0.5 (in)2 ( )0.5 (aggregate)2 ( with)2 ( )0.5 (total)2 ( )0.5 (contracted)2 ( )]TJ 0.045 Tc 0.07 Tw 0 -1.231 Td [(amount)12.2 ( of)12.2 ( RMB)12.2 (7)12.2 (.)12.2 (2)12.3 (6)12.2 (8)12.2 ( million.)12.2 ( The)12.3 ( Group)12.2 ( conducted)12.3 ( comprehensive)20 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(utilization)5 ( )0.5 (business)5 ( )0.5 (in)5 ( )0.5 (relation)5 ( )0.5 (to)5 ( )0.5 (an)5 ( )0.5 (aggregate)5 ( )0.5 (of)5 ( )0.5 (6)5 (,)5 (6)5 (8)5 (9)5 (.)5 (4)5 (9)5 (m\263)5 ( )0.5 (of)5 ( )0.5 (spent)5 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (denitrification catalysts.)Tj 0.024 Tc 0 -2.462 Td [(In the first half of 2026, the Group successfully developed and achieved\)-1 ( )]TJ 0.025 Tc 0.068 Tw 0 -1.231 Td [(mass )0.5 (production )0.5 (of )0.5 (134-hole )0.5 (gas )0.5 (turbine )0.5 (honeycomb )0.5 (catalysts)]TJ [(, )0.5 (with )0.5 (its )]TJ 0.024 Tc 0 Tw 0 -1.231 Td (selling price reaching over RMB140,000 per m)Tj 0 Tc 7.579 0 0 7.579 401.4211 209.5775 Tm (3)Tj 0.024 Tc 13 0 0 13 405.3936 204.3775 Tm [(. This breakthrough fills)-1 ( )]TJ 0.037 Tc 0.071 Tw -20.282 -1.231 Td [(the)12.1 ( )0.5 (domestic)12 ( )0.5 (gap)12 ( )0.5 (and)12 ( )0.5 (opens)12 ( )0.5 (a)12 ( )0.5 (new)12.1 ( )0.5 (chapter)12.1 ( )0.5 (for)12 ( )0.5 (its)12 ( )0.5 (development)12 ( )0.5 (in)12 ( )0.5 (the)12 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (gas turbine sector.)Tj ET endstreamendobj104 0 obj<>endobj106 0 obj<>endobj107 0 obj<>stream HtOkAݍi5s*|omlTZj%)x6;&cwg̴6xC (AD<7l;]A/o>ޛN>縮{yus}6{(Fȍ<"r:vKJlnǧՉ$0L>]tr_ݞ펂˕ 2\piFx ѓ c wYE _!EI(QXze,k)Vn2P j: ƾe\h]hS[R @u[*S3?{aH=pP}hWPIh(gw8c\#$u=nyw͔,qnOеxmx OF>2_˦OoKYdt<9*>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 53 \226)Tj /T1_1 1 Tf 13 0 3.4833 13 112.0517 776.409 Tm [(1.2 )-580.5 (Environmental protection facility engineering business)]TJ /T1_0 1 Tf 0.094 Tc 0.07 Tw 13 0 0 13 141.7323 744.409 Tm [(In)12.9 ( the)12.8 ( first)12.8 ( half)12.8 ( of)12.8 ( 2)12.9 (0)12.8 (2)12.9 (6)12.8 (,)12.8 ( the)12.8 ( Group)12.9 ( continued)12.8 ( to)12.8 ( carry)12.8 ( out)12.9 ( its)69 ( )]TJ 0.065 Tc 0 -1.231 Td [(environmental)12.1 ( protection)12.1 ( facility)12.1 ( engineering)12 ( business,)12.1 ( including)40 ( )]TJ 0.039 Tc 0 -1.231 Td [(d)0.5 (e)0.5 (s)0.5 (u)0.5 (l)0.5 (f)0.5 (u)0.5 (r)0.5 (i)0.5 (z)0.5 (a)0.5 (t)0.5 (io)0.5 (n)0.5 (,)13 ( )0.5 (d)0.5 (e)0.5 (n)0.5 (i)0.5 (t)0.5 (r)0.5 (i)0.5 (f)0.5 (i)0.5 (c)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n,)13 ( )0.5 (d)0.5 (u)0.5 (s)0.5 (t)13 ( )0.5 (r)0.5 (e)0.5 (m)0.5 (o)0.5 (v)0.5 (a)0.5 (l)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (u)0.5 (lt)0.6 (ra)0.6 (-)0.5 (lo)0.5 (w)13 ( )0.5 (e)0.5 (m)0.5 (i)0.5 (s)0.5 (s)0.5 (i)0.5 (o)0.5 (n)0.5 (.)14 ( )]TJ 0.102 Tc 0 -1.231 Td [(The)12.3 ( following)12.2 ( table)12.3 ( sets)12.3 ( forth)12.3 ( the)12.2 ( breakdown)12.3 ( of)12.3 ( the)12.3 ( Group\222s)77 ( )]TJ 0.047 Tc 0 -1.231 Td [(environmental)12.6 ( protection)12.5 ( facility)12.5 ( engineering)12.5 ( business)12.5 ( in)12.5 ( the)12.6 ( power)22 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (industry as at 30 June 2026:)Tj /T1_1 1 Tf 10.4 0 0 13 245.8633 633.7316 Tm (Projects awarded and signed)Tj 1.33 -1.231 Td (in the first half of 2026)Tj 13.597 1.231 Td (Projects under construction)Tj 1.121 -1.231 Td (in the first half of 2026)Tj -0.025 Tw -25.925 -1.238 Td (Project)Tj 12.674 0 Td (Number)Tj 6.869 0 Td (Amount)Tj 8.122 0 Td (Number)Tj 6.869 0 Td (Amount)Tj /T1_0 1 Tf 0 Tw 10.4 0 3.4833 13 317.5637 585.5422 Tm (\(RMB million\))Tj 14.991 0 Td (\(RMB million\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 243.7797 577.0446 cm 0 0 m 68.031 0 l S Q BT 0 Tc 10.4 0 3.4833 13 306.0912 578.4456 Tm ( )Tj ET q 1 0 0 1 323.1497 577.0446 cm 0 0 m 59.528 0 l S Q BT 10.4 0 3.4833 13 376.9573 578.4456 Tm ( )Tj ET q 1 0 0 1 394.0159 577.0446 cm 0 0 m 73.701 0 l S Q BT 10.4 0 3.4833 13 461.9967 578.4456 Tm ( )Tj ET q 1 0 0 1 479.0553 577.0446 cm 0 0 m 59.528 0 l S Q BT 10.4 0 3.4833 13 532.8629 578.4456 Tm ( )Tj 0.025 Tc -0.025 Tw 10.4 0 0 13 143.1498 547.6735 Tm (Desulfurization)Tj 0 Tc 0 Tw 15.854 0 Td (0)Tj 6.678 -0.109 Td (0)Tj 8.313 0.109 Td (6)Tj 0.025 Tc -0.025 Tw 4.439 0 Td (663.22)Tj -35.284 -1.238 Td (Denitrification)Tj 0 Tc 0 Tw 15.854 0 Td (0)Tj 6.814 0 Td (0)Tj 8.177 0 Td (1)Tj 0.025 Tc -0.025 Tw 4.964 0 Td (26.32)Tj 0 Tw -35.809 -1.238 Td (Dust removal)Tj 0 Tc 15.854 0 Td (1)Tj 0.025 Tc -0.025 Tw 4.439 0 Td (100.16)Tj 0 Tc 0 Tw 10.552 0 Td (6)Tj 0.025 Tc -0.025 Tw 4.439 0 Td (718.61)Tj -35.284 -1.238 Td (Others)Tj 0 Tc 0 Tw 15.854 0 Td (0)Tj 6.814 0 Td (0)Tj 0.025 Tc -0.025 Tw 7.652 0 Td (17)Tj 4.964 0 Td (316.87)Tj ET 2.5 w q 1 0 0 1 243.7797 492.4075 cm 0 0 m 68.031 0 l S Q 0.835 w q 1 0 0 1 243.7797 489.075 cm 0 0 m 68.031 0 l S Q BT 0 Tc 0 Tw 10.4 0 0 13 306.0912 490.3085 Tm ( )Tj ET 2.5 w q 1 0 0 1 323.1498 492.4075 cm 0 0 m 59.528 0 l S Q 0.835 w q 1 0 0 1 323.1498 489.075 cm 0 0 m 59.528 0 l S Q BT 10.4 0 0 13 376.9574 490.3085 Tm ( )Tj ET 2.5 w q 1 0 0 1 394.016 492.4075 cm 0 0 m 73.701 0 l S Q 0.835 w q 1 0 0 1 394.016 489.075 cm 0 0 m 73.701 0 l S Q BT 10.4 0 0 13 461.9968 490.3085 Tm ( )Tj ET 2.5 w q 1 0 0 1 479.0553 492.4075 cm 0 0 m 59.528 0 l S Q 0.835 w q 1 0 0 1 479.0554 489.075 cm 0 0 m 59.528 0 l S Q BT 10.4 0 0 13 532.8629 490.3085 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 13 0 3.4833 13 112.0521 459.9595 Tm [(1.3 )-580.5 (Water treatment business)]TJ /T1_0 1 Tf 0.079 Tc 0.07 Tw 13 0 0 13 141.7326 427.9595 Tm [(In)12.2 ( the)12.2 ( first)12.1 ( half)12.1 ( of)12.1 ( 2)12.1 (0)12.2 (2)12.1 (6)12.1 (,)12.2 ( the)12.1 ( Group)12.2 ( entered)12.1 ( into)12.1 ( two)12.1 ( new)12.2 ( water)54 ( )]TJ 0.025 Tc 0.004 Tw 0 -1.231 Td (treatment projects, and had three water treatment operation projects and\ )Tj 0 Tw 0 -1.231 Td (eight water treatment projects under construction as at 30 June 2026.)Tj ET endstreamendobj101 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 52 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(II. )-802.5 (BUSINESS OVERVIEW)]TJ 2.181 -2.462 Td [(1. )-1105.5 (Environmental Pollution Treatment Business)]TJ 13 0 3.4833 13 112.0517 712.409 Tm [(1.1 )-580.5 (Environmental protection facility concession operation business)]TJ /T1_0 1 Tf 0.028 Tc 0.08 Tw 13 0 0 13 141.7323 680.409 Tm [(As)3 ( )0.6 (at)3 ( )0.5 (3)3 (0)3 ( )0.5 (June)3 ( )0.5 (2)3 (0)3 (2)3 (6)3 (,)3 ( )0.5 (the)3.1 ( )0.5 (cumulative)3 ( )0.5 (installed)3 ( )0.5 (capacity)3 ( )0.5 (in)3 ( )0.5 (operation)3 ( )0.5 (for)3.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (desulfurization concession operations of the Group reached 47,670MW. )Tj 0.066 Tc 0.07 Tw 0 -1.231 Td [(The)12.8 ( cumulative)12.9 ( installed)12.8 ( capacity)12.8 ( in)12.8 ( operation)12.8 ( for)12.8 ( denitrification)41 ( )]TJ 0.025 Tc 0.048 Tw 0 -1.231 Td (concession operations reached 40,860MW and the installed capacity of )Tj 0 Tw 0 -1.231 Td (the desulfurization entrusted operation projects reached 1,960MW.)Tj 0.046 Tc 0.07 Tw 0 -2.462 Td [(I)0.5 (n)13 ( )0.5 (th)0.5 (e)13 ( )0.5 (f)0.5 (i)0.5 (r)0.5 (st)13 ( )0.5 (h)0.5 (a)0.5 (l)0.5 (f)12.9 ( )0.5 (o)0.5 (f)13 ( )0.5 (2)13 (0)12.9 (2)13 (6)13 (,)13 ( )0.5 (th)0.5 (e)13 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (up)13 ( )0.5 (r)0.5 (e)0.5 (m)0.5 (a)0.5 (i)0.5 (ne)0.5 (d)13 ( )0.5 (c)0.5 (o)0.5 (mm)0.5 (i)0.5 (t)0.5 (t)0.5 (e)0.5 (d)12.9 ( )0.5 (t)0.5 (o)13 ( )0.5 (c)0.5 (a)0.5 (r)0.5 (ry)0.5 (i)0.5 (n)0.5 (g)21 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 Td [(out)12 ( )0.5 (related)12 ( )0.5 (work)12 ( )0.5 (of)12.1 ( \223improving)12 ( )0.5 (quality)12 ( )0.5 (and)12 ( )0.5 (efficiency\224,)12 ( )0.5 (continuously)12 ( )]TJ 0.025 Tc 0.004 Tw 0 -1.231 Td [(improving indicators )0.5 (such as )0.5 (power )0.5 (consumption )0.5 (rate )0.5 (of desulfurization )]TJ 0.082 Tc 0.07 Tw 0 -1.231 Td [(plants,)12.2 ( power)12.2 ( consumption)12.3 ( rate)12.2 ( of)12.2 ( desulfurization)12.3 ( for)12.2 ( emission)56.9 ( )]TJ 0.062 Tc 0 -1.231 Td [(reduction,)12.1 ( limestone)12.1 ( consumption)12.1 ( rate)12.1 ( of)12.1 ( emission)12.1 ( reduction,)12 ( and)37 ( )]TJ 0.06 Tc 0 -1.231 Td [(consumption)12.4 ( rate)12.4 ( of)12.4 ( denitrification)12.4 ( agents)12.4 ( for)12.4 ( emission)12.4 ( reduction.)35 ( )]TJ 0.056 Tc 0 -1.231 Td [(In)12.8 ( the)12.8 ( first)12.8 ( half)12.8 ( of)12.8 ( the)12.8 ( year,)12.8 ( the)12.8 ( Group)12.8 ( completed)12.8 ( the)12.8 ( optimization)31 ( )]TJ 0.051 Tc 0 -1.231 Td [(and)12.7 ( renovation)12.8 ( of)12.8 ( 5)12.7 ( units)12.8 ( of)12.8 ( precise)12.8 ( ammonia)12.8 ( injection,)12.8 ( effectively)26 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(a)0.5 (d)0.6 (d)0.5 (r)0.5 (e)0.6 (s)0.5 (s)0.5 (i)0.5 (n)0.6 (g)5 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (b)0.6 (l)0.5 (e)0.5 (m)0.6 (s)5 ( )0.5 (s)0.5 (u)0.5 (c)0.6 (h)5 ( )0.5 (a)0.5 (s)5 ( )0.5 (d)0.5 (e)0.6 (l)0.5 (a)0.5 (y)0.5 (e)0.6 (d)5 ( )0.5 (P)0.5 (I)0.6 (D)5 ( )0.5 (c)0.5 (o)0.5 (n)0.6 (t)0.5 (r)0.5 (o)0.5 (l)0.6 (,)5 ( )0.5 (e)0.5 (x)0.5 (c)0.6 (e)0.5 (s)0.5 (s)0.6 (i)0.5 (v)0.5 (e)5 ( )0.5 (a)0.6 (m)0.5 (m)0.5 (o)0.5 (n)0.6 (i)0.5 (a)5 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.231 Td [(slip,)2 ( )0.5 (high)2 ( )0.5 (ammonia)2 ( )0.5 (consumption)2 ( )0.5 (and)2 ( air)2 ( )0.5 (preheater)2 ( )0.5 (clogging.)2 ( It)2 ( )0.5 (carried)2 ( )]TJ 0.025 Tc 0.008 Tw 0 -1.231 Td [(out 7 denitrification thermal leveling tests, )0.5 (which resulted in significant )]TJ 0.054 Tc 0.07 Tw 0 -1.231 Td [(improvements)12.9 ( in)12.8 ( nitrogen)12.8 ( oxide)12.9 ( concentration)12.9 ( field,)12.9 ( a)12.9 ( reduction)12.9 ( in)29 ( )]TJ 0.066 Tc 0 -1.231 Td [(ammonia)12.3 ( consumption)12.3 ( rate.)12.3 ( Transformation)12.4 ( on)12.4 ( denitrification)12.3 ( air)41 ( )]TJ 0.067 Tc 0 -1.231 Td [(supply)12.3 ( heat)12.3 ( sources)12.3 ( for)12.3 ( 2)12.3 ( units)12.3 ( were)12.3 ( finished;)12.3 ( steam)12.3 ( heating)12.3 ( was)42 ( )]TJ 0.025 Tc 0.001 Tw 0 -1.231 Td (replaced by flue gas heating, greatly cutting the steam consumption rate\ )Tj 0.042 Tc 0.07 Tw 0 -1.231 Td [(for)12.7 ( denitrification.)12.6 ( The)12.7 ( spray)12.6 ( layer)12.6 ( renovation)12.6 ( of)12.6 ( 1)12.6 ( absorption)12.6 ( tower)17 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(w)0.5 (a)0.5 (s)1 ( )0.5 (c)0.5 (om)0.5 (p)0.5 (le)0.5 (t)0.5 (ed)0.5 (,)1 ( )0.5 (e)0.5 (n)0.5 (a)0.5 (bl)0.5 (i)0.5 (ng)1 ( )0.5 (e)0.5 (c)0.5 (o)0.5 (no)0.5 (m)0.5 (ic)0.5 (a)0.5 (l)1 ( )0.5 (a)0.5 (nd)1 ( )0.5 (e)0.5 (f)0.5 (f)0.5 (ic)0.5 (i)0.5 (e)0.5 (nt)1 ( )0.5 (c)0.5 (o)0.5 (m)0.5 (bi)0.5 (n)0.5 (ed)1 ( )0.5 (o)0.5 (p)0.5 (er)0.5 (a)0.5 (t)0.5 (i)0.5 (on)1 ( )]TJ 0.059 Tc 0.07 Tw 0 -1.231 Td [(of)12.3 ( circulation)12.2 ( pumps)12.2 ( under)12.3 ( equal)12.2 ( load)12.2 ( conditions.)12.2 ( Both)12.2 ( the)12.2 ( power)34 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.231 Td [(consumption rate )0.5 (for )0.5 (desulfurization )0.5 (emission reduction )0.5 (and )0.5 (limestone )]TJ 0.073 Tw 0 -1.231 Td (consumption rate for emission reduction decreased to varying degrees, )Tj 0 Tw 0 -1.231 Td (supporting steady progress in cost reduction and profit growth.)Tj ET endstreamendobj100 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 51 \226)Tj /T1_1 1 Tf -0.025 Tw 13 0 0 13 85.0394 776.0055 Tm (4.)Tj 0 Tc 0 Tw ( )Tj 0.117 Tc 0.07 Tw 2.181 0 Td [(Improving)12.2 ( resource)12.2 ( utilization)12.1 ( efficiency)12.1 ( and)12.1 ( promoting)12.1 ( the)92.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (development of a circular economy)Tj /T1_0 1 Tf 0.053 Tw 0 -2.462 Td (In June 2026, the National Development and Reform Commission \()Tj /C0_0 1 Tf 0.225 Tc -0.225 Tw 29.257 0 Td <0A3708950CEF>Tj 0.295 Tc -0.295 Tw -29.257 -1.231 Td <089D057104B70827058908700E36>Tj /T1_0 1 Tf 0.038 Tc 0.07 Tw 8.919 0 Td [(\))13 ( )0.5 (i)0.5 (s)0.5 (s)0.5 (u)0.5 (e)0.5 (d)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (1)13 (5)13 (t)0.5 (h)13 ( )0.5 (F)0.5 (i)0.5 (v)]TJ -0.038 Tw 9.159 0 Td [(e)0.5 (-)0.5 (Y)]TJ 0.07 Tw 1.611 0 Td [(e)0.5 (a)0.5 (r)13 ( )0.5 (P)0.5 (l)0.5 (a)0.5 (n)13 ( )0.5 (f)0.5 (o)0.5 (r)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (D)0.5 (e)0.5 (v)0.5 (e)0.5 (l)0.5 (o)0.5 (p)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )]TJ 0.025 Tc 0.075 Tw -19.69 -1.231 Td (of a Circular Economy which clearly states that by 2030, the output rate\ of )Tj 0.036 Tc 0.072 Tw 0 -1.231 Td [(major)11 ( )0.5 (resources)11 ( )0.5 (will)11 ( )0.5 (increase)11.1 ( )0.5 (by)11 ( )0.5 (about)11 ( )0.5 (1)11 (6)11 (%)11 ( )0.5 (compared)11 ( )0.5 (to)11 ( )0.5 (2)11 (0)11 (2)11 (5)11 (,)11 ( )0.5 (the)11 ( )0.5 (annual)11 ( )]TJ 0.04 Tc 0.07 Tw 0 -1.231 Td [(comprehensive)12.6 ( utilization)12.7 ( of)12.7 ( bulk)12.7 ( solid)12.7 ( waste)12.7 ( will)12.7 ( reach)12.6 ( about)12.6 ( 4)12.6 (.)12.7 (5)12.6 ( billion)15 ( )]TJ 0.041 Tc 0 -1.231 Td [(tonnes,)12.5 ( the)12.4 ( annual)12.5 ( recycling)12.4 ( of)12.5 ( major)12.4 ( renewable)12.5 ( resources)12.4 ( will)12.4 ( reach)12.4 ( 5)12.4 (1)12.5 (0)15.9 ( )]TJ 0.058 Tc 0 -1.231 Td [(million)12.6 ( tonnes,)12.6 ( and)12.6 ( the)12.6 ( output)12.6 ( value)12.6 ( of)12.7 ( the)12.6 ( resource)12.6 ( recycling)12.6 ( industry)33 ( )]TJ 0.041 Tc 0 -1.231 Td 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After transformation, the coal consumption for power supply of th\e )Tj 0.009 Tw 0 -1.231 Td (units will be cut by over 5 grams of standard coal per kilowatt-hour. 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-16.216 -1.231 Td [(important)12.7 ( guiding)12.8 ( document)12.7 ( for)12.7 ( state-owned)12.7 ( enterprises)12.8 ( in)12.8 ( the)12.8 ( first)12.8 ( year)23 ( )]TJ 0.075 Tc 0 -1.231 Td [(of)12.2 ( the)12.2 ( 1)12.2 (5)12.2 (th)12.2 ( Five-Year)12.2 ( Plan)12.2 ( period,)12.2 ( it)12.2 ( marks)12.2 ( the)12.2 ( full)12.2 ( launch)12.2 ( of)12.2 ( a)12.2 ( new)50 ( )]TJ 0.069 Tc 0 -1.231 Td [(four-round)12.2 ( reform)12.2 ( of)12.1 ( state-owned)12.1 ( assets)12.2 ( and)12.2 ( state-owned)12.1 ( enterprises.)44 ( )]TJ 0.045 Tc 0 -1.231 Td [(Targeting)12.1 ( long-standing)12.1 ( pain)12 ( points)12.1 ( of)12.1 ( state-owned)12.1 ( enterprises)12.1 ( including)20 ( )]TJ 0.082 Tc 0 -1.231 Td [(scattered)12.8 ( layout,)12.8 ( insufficient)12.8 ( innovation,)12.8 ( rigid)12.9 ( mechanisms)12.8 ( and)12.8 ( low)57 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(valuation,)5 ( )0.5 (the)5 ( )0.5 (Plan)5 ( )0.5 (takes)5 ( )0.5 (\223strengthening)5 ( )0.5 (core)5 ( )0.5 (functions)5 ( )0.5 (and)5 ( )0.5 (enhancing)5 ( )0.5 (core)5 ( )]TJ 0.041 Tc 0.07 Tw 0 -1.231 Td [(c)0.5 (o)0.5 (m)0.6 (p)0.5 (e)0.5 (t)0.5 (i)0.5 (t)0.5 (i)0.5 (v)0.5 (e)0.6 (n)0.5 (e)0.5 (s)0.5 (s)0.5 (\224)13.1 ( )0.5 (a)0.5 (s)13 ( )0.5 (i)0.5 (t)0.6 (s)13 ( )0.5 (o)0.5 (v)0.5 (e)0.5 (r)0.6 (a)0.5 (l)0.5 (l)13 ( )0.5 (g)0.5 (o)0.5 (a)0.6 (l)0.5 (.)13 ( )0.5 (I)0.5 (t)13 ( )0.6 (a)0.5 (i)0.5 (m)0.5 (s)13 ( )0.5 (t)0.5 (o)13.1 ( )0.5 (b)0.5 (o)0.5 (l)0.5 (s)0.5 (t)0.5 (e)0.5 (r)0.6 (,)13 ( )0.5 (r)0.5 (e)0.5 (f)0.6 (i)0.5 (n)0.5 (e)13 ( )0.5 (a)0.6 (n)0.5 (d)13 ( )0.5 (e)0.5 (x)0.5 (p)0.5 (a)0.6 (n)0.5 (d)16 ( )]TJ 0.047 Tc 0 -1.231 Td [(state-owned)12.6 ( assets)12.6 ( and)12.6 ( state-owned)12.6 ( enterprise)]TJ -0.047 Tw (s.)Tj 0.07 Tw 21.444 0 Td [( Centering)12.6 ( on)12.6 ( the)12.7 ( \223Three)22 ( )]TJ 0.033 Tc 0.075 Tw -21.444 -1.231 Td [(Priorities)8 ( )0.5 (of)8 ( )0.5 (Concentration\224)0.5 (,)8 ( )0.5 (it)8.1 ( )0.5 (prioritizes)8 ( )0.5 (undertaking)8 ( )0.5 (major)8 ( )0.5 (scientific)8 ( )0.5 (and)8 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.231 Td [(technological)9 ( )0.5 (breakthroughs,)9 ( )0.5 (cross-regional)9 ( )0.5 (resource)9 ( )0.5 (integration,)9 ( )0.5 (layout)9 ( )0.5 (of)9 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(s)0.5 (tr)0.5 (a)0.5 (te)0.5 (gi)0.5 (c)3 ( )0.5 (e)0.5 (me)0.5 (rg)0.5 (in)0.5 (g)3 ( )0.5 (i)0.5 (nd)0.5 (us)0.5 (tr)0.5 (ie)0.5 (s)0.5 (,)3 ( )0.5 (an)0.5 (d)3 ( )0.5 (in)0.5 (du)0.5 (s)0.5 (tr)0.5 (ia)0.5 (l)3 ( )0.5 (c)0.5 (ha)0.5 (in)3 ( )0.5 (s)0.5 (e)0.5 (cu)0.5 (ri)0.5 (t)0.5 (y)3 ( )0.5 (as)0.5 (s)0.5 (ur)0.5 (an)0.5 (c)0.5 (e)3 ( )0.5 (ta)0.5 (s)0.5 (ks)0.5 (.)3 ( )]TJ 0.047 Tc 0.07 Tw 0 -1.231 Td [(The)12.8 ( Company)12.8 ( will)12.9 ( take)12.9 ( this)12.9 ( reform)12.8 ( as)12.9 ( an)12.9 ( opportunity)12.9 ( to)12.9 ( further)12.9 ( improve)22 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.231 Td [(quality)9 ( )0.5 (and)9 ( )0.5 (efficiency,)8.9 ( )0.5 (strengthen)9 ( )0.5 (its)9 ( )0.5 (core)9 ( )0.5 (business,)9 ( )0.5 (enhance)9 ( )0.5 (scientific)9 ( )0.6 (and)9 ( )]TJ 0.063 Tc 0.07 Tw 0 -1.231 Td [(technological)12.4 ( innovation,)12.4 ( and)12.5 ( improve)12.4 ( governance,)12.4 ( thereby)12.5 ( building)12.4 ( a)38 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (modern new stat)Tj -0.025 Tw (e-o)Tj 0 Tw (wned enterprise.)Tj ET endstreamendobj135 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 48 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm (MANAGEMENT DISCUSSION AND ANALYSIS)Tj /T1_0 1 Tf 0.072 Tc 0.07 Tw 0 -2.462 Td [(A)0.5 (s)13 ( )0.6 (a)0.5 (n)13 ( )0.5 (e)0.5 (n)0.5 (v)0.6 (i)0.5 (r)0.5 (o)0.5 (n)0.5 (m)0.5 (e)0.5 (n)0.5 (t)0.6 (a)0.5 (l)13 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (t)0.6 (e)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.6 (a)0.5 (n)0.5 (d)13 ( )0.5 (e)0.6 (n)0.5 (e)0.5 (r)0.5 (g)0.5 (y)13 ( )0.5 (c)0.6 (o)0.5 (n)0.5 (s)0.5 (e)0.5 (r)0.5 (v)0.5 (a)0.6 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (s)0.6 (o)0.5 (l)0.5 (u)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (p)0.5 (r)0.6 (o)0.5 (v)0.5 (i)0.5 (d)0.5 (e)0.5 (r)13.1 ( )0.5 (f)0.5 (o)0.5 (r)47 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(coal-fired)5 ( )0.5 (power)5 ( )0.5 (generation)5 ( )0.5 (enterprises,)5 ( )0.5 (the)5 ( )0.5 (principal)5 ( )0.5 (business)5 ( )0.5 (of)5 ( )0.5 (the)5 ( )0.5 (Group)5 ( )0.5 (includes)5 ( )]TJ 0.059 Tc 0.07 Tw 0 -1.231 Td [(environmental)12.3 ( protection)12.3 ( facility)12.3 ( concession)12.3 ( operation,)12.3 ( manufacturing)12.3 ( and)12.3 ( sales)34.1 ( )]TJ 0.051 Tc 0 -1.231 Td [(of)12.3 ( denitrification)12.2 ( catalysts,)12.2 ( environmental)12.2 ( protection)12.2 ( facilities)12.2 ( engineering,)12.2 ( water)26 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 Td [(treatment)12 ( )0.5 (business,)12 ( )0.5 (energy)12 ( )0.5 (conservation)12.1 ( )0.5 (business)12 ( )0.5 (and)12 ( )0.5 (renewable)12 ( )0.5 (energy)12 ( )0.5 (engineering)12 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(business.)1 ( )0.5 (Customers)1 ( )0.5 (of)1 ( )0.5 (the)1 ( )0.5 (Group)1 ( )0.5 (spread)1 ( )0.5 (over)1 ( )0.5 (3)1 (0)1 ( )0.5 (provinces,)1 ( )0.5 (autonomous)1 ( )0.5 (regions)1 ( )0.5 (and)1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (municipalities in the PRC as well as 8 countries.)Tj /T1_1 1 Tf 0 -2.462 Td [(I. )-1216.5 (INDUSTRY OVERVIEW)]TJ /T1_0 1 Tf 0.046 Tw 2.181 -2.462 Td (Based on the overall performance of the environmental protection industr\y in the )Tj 0 Tw 0 -1.231 Td (first half of 2026, there are mainly the following highlights and indust\ry trends:)Tj /T1_1 1 Tf 0.083 Tc 0.07 Tw 0 -2.462 Td [(1)58 (.)58 ( )-977.5 (Implementing)12.8 ( the)12.7 ( Outline)12.8 ( of)12.8 ( the)12.8 ( 1)12.7 (5)12.8 (th)12.7 ( Five-Year)12.8 ( Plan)12.8 ( and)12.7 ( Fully,)57.9 ( )]TJ 0.075 Tc 2.18 -1.231 Td [(Accurately)12.2 ( and)12.3 ( Comprehensively)12.2 ( Applying)12.3 ( the)12.2 ( New)12.3 ( Development)50 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (Philosophy)Tj /T1_0 1 Tf 0.08 Tc 0.07 Tw 0 -2.462 Td [(In)12.4 ( March)12.3 ( 2)12.3 (0)12.4 (2)12.3 (6)12.3 (,)12.4 ( the)12.4 ( Outline)12.4 ( of)12.3 ( the)12.3 ( 1)12.3 (5)12.4 (th)12.4 ( Five-Year)12.4 ( Plan)12.3 ( for)12.3 ( National)55.1 ( )]TJ 0.066 Tc 0 -1.231 Td [(Economic)12.5 ( and)12.5 ( Social)12.5 ( Development)12.5 ( of)12.6 ( the)12.5 ( People\222s)12.5 ( Republic)12.5 ( of)12.5 ( China)41 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.231 Td [(\(2026\2262030\) )0.5 (\()]TJ /C0_0 1 Tf 0.373 Tc -0.373 Tw 5.781 0 Td [<0090>162.9 <02950D36025B034F038D05710A370A37034F0EBE13F60571065F0E360CEF089D0B4B0264029E>]TJ 0.324 Tc -0.324 Tw -5.781 -1.231 Td <0848029E03CB>Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 3.798 0 Td (\(2026)Tj /C0_0 1 Tf 0 Tc 0 Tw <00D1>Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 3.483 0 Td (2030 )Tj /C0_0 1 Tf 0.324 Tc -0.324 Tw 2.581 0 Td [<03CB>175.4 <0081>595.3 <0B9D0F8C10640805>175.3 <0091>]TJ /T1_0 1 Tf 0.038 Tc 0.07 Tw 7.648 0 Td [(\))0.5 (w)0.5 (a)0.5 (s)13 ( )0.5 (r)0.5 (e)0.5 (l)0.5 (e)0.6 (as)0.6 (e)0.5 (d.)13.1 ( I)0.5 (t)13 ( )0.5 (s)0.6 (e)0.5 (r)0.5 (v)0.5 (e)0.5 (s)13 ( )0.5 (a)0.5 (s)13 ( )0.5 (a)13 ( )0.5 (g)0.5 (r)0.5 (a)0.5 (n)0.5 (d)13 ( )]TJ 0.05 Tc -17.51 -1.231 Td [(blueprint)12.9 ( for)12.9 ( comprehensively)12.9 ( building)12.9 ( a)12.9 ( great)12.9 ( modern)12.9 ( soc)0.5 (ialist)12.8 ( country)25 ( )]TJ 0.049 Tc 0 -1.231 Td [(during)12.2 ( the)12.3 ( 1)12.3 (5)12.2 (th)12.2 ( Five-Year)12.3 ( Plan)12.3 ( period)12.3 ( and)12.2 ( a)12.2 ( common)12.3 ( program)12.2 ( of)12.3 ( action)24 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(for)7 ( )0.5 (people)7 ( )0.5 (of)7 ( )0.5 (all)7.1 ( ethnic)7 ( )0.5 (groups)7 ( )0.5 (across)7 ( )0.5 (the)7 ( )0.5 (nation.)7 ( )0.5 (Subsequently,)7 ( )0.5 (a)7 ( )0.5 (series)7 ( )0.5 (of)7 ( )]TJ 0.025 Tc 0.047 Tw 0 -1.231 Td (documents were issued one after another, including the 15th Five-Year Pl\an )Tj 0.038 Tc 0.07 Tw 0 -1.231 Td [(f)0.5 (o)0.5 (r)13 ( )0.5 (B)0.5 (u)0.5 (i)0.5 (l)0.5 (d)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (a)13 ( )0.5 (B)0.5 (e)0.5 (a)0.5 (u)0.5 (t)0.5 (i)0.5 (f)0.5 (u)0.5 (l)13 ( )0.5 (C)0.5 (h)0.5 (i)0.5 (n)0.5 (a)0.5 (\()]TJ /C0_0 1 Tf 0.307 Tc -0.307 Tw 13.56 0 Td [<0090>179.7 <07D5160602950A3707140BA3>]TJ /T1_0 1 Tf 0 Tc 0 Tw 8.812 0 Td (\223)Tj /C0_0 1 Tf 0.307 Tc -0.307 Tw 0.594 0 Td <0264029E029E>Tj /T1_0 1 Tf 0 Tc 0 Tw 3.764 0 Td (\224)Tj /C0_0 1 Tf 0.127 Tc -0.127 Tw 0.594 0 Td [<0B9D>-179.9 <0F8C0091>]TJ /T1_0 1 Tf 0.038 Tc 0.07 Tw 3.084 0 Td [(\))0.5 (,)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )]TJ 0.025 Tc 0 Tw -30.407 -1.231 Td (15th Five-Year Plan for the New Energy System\()Tj /C0_0 1 Tf 0.162 Tc -0.162 Tw 20.452 0 Td [<0090>137 <0E2D>0.5 <06E8>0.5 <09900E55>0.5 <1717>0.5 <04FB>]TJ /T1_0 1 Tf 0 Tc 0 Tw 7.903 0 Td (\223)Tj /C0_0 1 Tf 0.162 Tc -0.162 Tw 0.515 0 Td [<0264>0.5 <029E>0.5 <029E>]TJ /T1_0 1 Tf 0 Tc 0 Tw 3.394 0 Td (\224)Tj /C0_0 1 Tf 0.025 Tc -0.025 Tw -32.263 -1.231 Td [<0B9D>-200 <0F8C0091>]TJ /T1_0 1 Tf 0.007 Tw 2.9 0 Td (\), the Action Plan for Carbon Peaking During the 15th Five-Year Plan )Tj 0.031 Tc 0.077 Tw -2.9 -1.231 Td [(Period)6 ( )0.5 (\()]TJ /C0_0 1 Tf 0 Tc 0 Tw 3.132 0 Td <0090>Tj /T1_0 1 Tf 1.025 0 Td (\223)Tj /C0_0 1 Tf 0.225 Tc -0.225 Tw 0.594 0 Td <0264029E029E>Tj /T1_0 1 Tf 0 Tc 0 Tw 3.6 0 Td (\224)Tj /C0_0 1 Tf 0.225 Tc -0.225 Tw 0.594 0 Td [<10410F3A08A404110A1702D908E9>200 <0091>]TJ /T1_0 1 Tf 0.031 Tc 0.077 Tw 9.025 0 Td [(\),)6 ( )0.5 (the)6 ( )0.5 (1)6 (5)6 (th)6 ( )0.5 (Five-Year)6 ( )0.5 (Plan)6 ( )0.5 (for)6.1 ( )0.5 (the)6 ( )]TJ 0.038 Tc 0.07 Tw -17.97 -1.231 Td [(D)0.5 (e)0.5 (v)0.5 (e)0.5 (l)0.5 (o)0.5 (p)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (C)0.5 (i)0.5 (r)0.5 (c)0.5 (u)0.5 (l)0.5 (a)0.5 (r)13 ( )0.5 (E)0.5 (c)0.5 (o)0.5 (n)0.5 (o)0.5 (m)0.5 (y)13 ( )0.5 (\()]TJ /C0_0 1 Tf 0.259 Tc -0.259 Tw 15.744 0 Td [<0090>191.7 <0C4314110EBE13F60CEF089D>]TJ /T1_0 1 Tf 0 Tc 0 Tw 8.511 0 Td (\223)Tj /C0_0 1 Tf 0.259 Tc -0.259 Tw 0.594 0 Td <0264029E029E>Tj /T1_0 1 Tf 0 Tc 0 Tw 3.668 0 Td (\224)Tj /C0_0 1 Tf 0.067 Tc -0.067 Tw 0.594 0 Td [<0B9D>-191.8 <0F8C0091>]TJ /T1_0 1 Tf 0.025 Tc -0.025 Tw 2.976 0 Td [(\))-12.5 (, )]TJ 0.081 Tw -32.087 -1.231 Td [(and the )0.5 (15th Five-Year Plan for the )0.5 (Prevention )0.5 (and )0.5 (Control of Solid Waste )]TJ 0.038 Tc 0.07 Tw 0 -1.231 Td [(P)0.5 (o)0.5 (l)0.5 (l)0.5 (u)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( \()]TJ /C0_0 1 Tf 0.285 Tc -0.285 Tw 4.333 0 Td [<0090>184.4 <05781717113B064A03EE075105230637>]TJ /T1_0 1 Tf 0 Tc 0 Tw 11.249 0 Td (\223)Tj /C0_0 1 Tf 0.285 Tc -0.285 Tw 0.594 0 Td <0264029E029E>Tj /T1_0 1 Tf 0 Tc 0 Tw 3.721 0 Td (\224)Tj /C0_0 1 Tf 0.101 Tc -0.101 Tw 0.594 0 Td [<0B9D>-184.4 <0F8C0091>]TJ /T1_0 1 Tf 0.025 Tc -0.025 Tw 3.036 0 Td [(\))-12.5 (. )]TJ 0.038 Tc 0.07 Tw 1.003 0 Td [(T)0.5 (h)0.5 (e)13 ( )0.5 (C)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (n)0.5 (y)13 ( )0.5 (w)0.5 (i)0.5 (l)0.5 (l)13 ( )]TJ 0.047 Tc -24.53 -1.231 Td [(de)0.5 (plo)0.5 (y)12.9 ( t)0.5 (he)12.9 ( )]TJ 5.071 0 Td [(go)0.5 (als)13 ( a)0.5 (nd)12.9 ( )0.5 (tas)0.5 (ks)12.9 ( )0.5 (of)13 ( the)13 ( 1)13 (5)12.9 (th)13 ( Fi)0.5 (ve-)0.5 (Ye)0.5 (ar)12.9 ( )0.5 (Pla)0.5 (n)12.9 ( )0.5 (acr)0.5 (os)0.5 (s)12.9 ( a)0.5 (ll)12.9 ( )0.5 (se)0.5 (cto)0.5 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Due)12.3 ( to)12.4 ( the)12.4 ( impact)12.4 ( of)12.3 ( COVID-)12.4 (1)12.4 (9)12.3 (,)12.4 ( the)15 ( )]TJ 0.054 Tc 0 -1.231 Td [(construction)12.7 ( progress)12.7 ( was)12.7 ( delayed,)12.7 ( and)12.6 ( NLC)12.7 ( India)12.7 ( issued)12.7 ( a)12.7 ( formal)12.7 ( notice)12.7 ( to)29 ( )]TJ 0.044 Tc 0 -1.231 Td [(request)12.8 ( to)12.8 ( terminate)12.8 ( the)12.8 ( contract)12.8 ( and)12.8 ( redeem)12.8 ( the)12.8 ( performance)12.8 ( guarantee)12.8 ( letter)19 ( )]TJ 0.05 Tc 0 -1.231 Td [(amounting)12.4 ( to)12.3 ( RMB)12.4 (4)12.3 (7)12.4 (,)12.3 (3)12.3 (0)12.4 (3)12.3 (,)12.4 (0)12.3 (0)12.3 (0)12.4 (.)12.3 ( In)12.3 ( addition,)12.4 ( the)12.3 ( claims)12.4 ( brought)12.3 ( by)12.3 ( NLC)12.3 ( India)25.1 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(also)7 ( )0.5 (include)7 ( )0.5 (the)7 ( )0.5 (costs)7 ( )0.5 (incurred)7 ( )0.5 (in)7.1 ( )0.5 (re-tendering)7 ( )0.5 (and)7 ( )0.5 (the)7 ( )0.6 (arbitration)7 ( )0.5 (progress.)7 ( )0.5 (The)7 ( )]TJ 0.025 Tc 0.053 Tw 0 -1.231 Td [(Group 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w q 1 0 0 1 294.8032 348.0994 cm 0 0 m 73.701 0 l S Q BT 13 0 0 13 289.1339 349.3329 Tm ( )Tj ET 2.5 w q 1 0 0 1 379.8425 351.4319 cm 0 0 m 73.701 0 l S Q 0.835 w q 1 0 0 1 379.8426 348.0994 cm 0 0 m 73.701 0 l S Q BT 13 0 0 13 374.1732 349.3329 Tm ( )Tj ET 2.5 w q 1 0 0 1 464.8819 351.4319 cm 0 0 m 73.701 0 l S Q 0.835 w q 1 0 0 1 464.8819 348.0994 cm 0 0 m 73.701 0 l S Q BT 13 0 0 13 459.2126 349.3329 Tm ( )Tj /T1_0 1 Tf 0.025 Tc -28.783 -2.462 Td (As at 31 December )Tj 1.003 -1.231 Td (2025 \(audited\))Tj -1.003 -1.231 Td (Equity investments )Tj 1.003 -1.231 Td (designated at fair )Tj 0.018 Tc 0 -1.231 Td [(value through other)-7 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (comprehensive )Tj 0 -1.231 Td (income)Tj /T1_1 1 Tf 0 Tc 0 Tw 13.76 0 Td (\226)Tj 6.541 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.691 0 Td (6,009)Tj 6.541 0 Td (6,009)Tj /T1_0 1 Tf 0 Tw -32.538 -1.231 Td (Trade and bills )Tj -0.025 Tw 1.003 -1.231 Td (receivables)Tj /T1_1 1 Tf 0 Tc 0 Tw 13.76 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.641 0 Td (108,117)Tj 0 Tc 0 Tw 9.441 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.641 0 Td (108,117)Tj ET 2.5 w q 1 0 0 1 209.7638 183.7684 cm 0 0 m 73.701 0 l S Q 0.835 w q 1 0 0 1 209.7638 180.4359 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 204.0945 181.6693 Tm ( )Tj ET 2.5 w q 1 0 0 1 294.8032 183.7684 cm 0 0 m 73.701 0 l S Q 0.835 w q 1 0 0 1 294.8032 180.4359 cm 0 0 m 73.701 0 l S Q BT 13 0 0 13 289.1339 181.6693 Tm ( )Tj ET 2.5 w q 1 0 0 1 379.8425 183.7684 cm 0 0 m 73.701 0 l S Q 0.835 w q 1 0 0 1 379.8426 180.4359 cm 0 0 m 73.701 0 l S Q BT 13 0 0 13 374.1732 181.6693 Tm ( )Tj ET 2.5 w q 1 0 0 1 464.8819 183.7684 cm 0 0 m 73.701 0 l S Q 0.835 w q 1 0 0 1 464.8819 180.4359 cm 0 0 m 73.701 0 l S Q BT 13 0 0 13 459.2126 181.6693 Tm ( )Tj ET endstreamendobj141 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 44 \226)Tj /T1_1 1 Tf 0.115 Tc 0.07 Tw 13 0 0 13 56.6929 776.0055 Tm [(2)90 (0)90 (.)90 ( )-420.5 (FAIR)12.5 ( VALUE)12.5 ( AND)12.5 ( FAIR)12.5 ( VALUE)12.5 ( HIERARCHY)12.5 ( OF)12.5 ( FINANCIAL)90 ( )]TJ 0.025 Tc 0 Tw 2.181 -1.231 Td (INSTRUMENTS \(CONTINUED\))Tj 0 -2.462 Td (Fair value \(Continued\))Tj /T1_0 1 Tf 0.029 Tw 0 -2.385 Td (The fair values of the financial assets and liabilities are included at \the amount at )Tj 0.015 Tw 0 -1.154 Td (which the instrument could be exchanged in a current transaction between\ willing )Tj 0.045 Tc 0.07 Tw 0 -1.154 Td [(parties,)12.4 ( other)12.3 ( than)12.3 ( in)12.3 ( a)12.3 ( forced)12.3 ( or)12.3 ( liquidation)12.3 ( sale.)12.3 ( The)12.3 ( following)12.3 ( methods)12.3 ( and)20 ( )]TJ 0.025 Tc 0 Tw 0 -1.154 Td (assumptions were used to estimate the fair values:)Tj 0.026 Tw 0 -2.308 Td [(\225 )-1504.5 (The fair values of the non-current portion of long term interest-bearing\ bank )]TJ 0.012 Tw 2.18 -1.154 Td (borrowings and other loans \(other than lease liabilities\) have been ca\lculated )Tj 0.02 Tw 0 -1.154 Td (by discounting the expected future cash flows using rates currently avai\lable )Tj 0.037 Tw 0 -1.154 Td (for instruments with similar terms, credit risk and remaining maturities\. The )Tj 0.049 Tw 0 -1.154 Td (changes in fair values as a result of the Group\222s own non-performance\ risks )Tj 0.04 Tw 0 -1.154 Td [(for interest-bearing bank )0.5 (borrowings )0.5 (and other loans as at )0.5 (30 June 2026 and )]TJ 0 Tw 0 -1.154 Td (31 December 2025 were assessed to be insignificant.)Tj 0.054 Tc 0.07 Tw -2.18 -2.308 Td [(\225)29 ( )-1431.5 (The)12.2 ( fair)12.2 ( values)12.2 ( of)12.1 ( the)12.2 ( bills)12.1 ( receivable)12.1 ( which)12.2 ( are)12.1 ( measured)12.1 ( at)12.2 ( fair)12.1 ( value)29 ( )]TJ 0.038 Tc 2.18 -1.154 Td [(t)0.5 (h)0.5 (r)0.5 (o)0.5 (u)0.6 (g)0.5 (h)13 ( o)0.6 (t)0.5 (h)0.5 (e)0.5 (r)13 ( )0.5 (c)0.5 (o)0.5 (m)0.6 (p)0.5 (r)0.5 (e)0.5 (h)0.5 (e)0.5 (n)0.5 (s)0.6 (i)0.5 (v)0.5 (e)13 ( )0.5 (i)0.5 (n)0.5 (c)0.5 (o)0.5 (m)0.5 (e)13 ( )0.6 (h)0.5 (a)0.5 (v)0.5 (e)13 ( )0.5 (b)0.5 (e)0.5 (e)0.6 (n)13 ( )0.5 (c)0.5 (a)0.5 (l)0.5 (c)0.5 (u)0.5 (l)0.6 (a)0.5 (t)0.5 (e)0.5 (d)13 ( )0.5 (b)0.5 (y)13 ( )0.5 (d)0.5 (i)0.5 (s)0.5 (c)0.6 (o)0.5 (u)0.5 (n)0.5 (t)0.5 (i)0.5 (n)0.5 (g)13 ( )]TJ 0.044 Tc 0 -1.154 Td [(the)12.6 ( expected)12.5 ( future)12.6 ( cash)12.6 ( flows)12.5 ( using)12.6 ( the)12.5 ( one-year)12.6 ( bank)12.5 ( loan)12.5 ( interest)12.5 ( rate)19 ( )]TJ 0.025 Tc 0 Tw 0 -1.154 Td (published by the People\222s Bank of China.)Tj -2.18 -2.308 Td (Details of information about Level 3 fair value measurements are as foll\ows:)Tj /T1_1 1 Tf -0.025 Tw 10.4 0 0 13 85.0394 382.0055 Tm (Financial )Tj 0 -1.154 Td (instruments)Tj 8.449 1.154 Td (Valuation )Tj 0 -1.154 Td (technique)Tj 7.359 2.308 Td (Significant )Tj 0 -1.154 Td (unobservable )Tj 0 -1.154 Td (input)Tj 7.359 0 Td (Range)Tj 0 Tw 3.543 0 Td (Sensitivity of fair value to the input)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 85.0394 362.5954 cm 0 0 m 82.205 0 l S Q BT 0 Tc 13 0 0 13 85.0394 363.9964 Tm ( )Tj ET q 1 0 0 1 172.9134 362.5954 cm 0 0 m 70.866 0 l S Q BT 13 0 0 13 172.9134 363.9964 Tm ( )Tj ET q 1 0 0 1 249.4488 362.5954 cm 0 0 m 70.866 0 l S Q BT 13 0 0 13 249.4488 363.9964 Tm ( )Tj ET q 1 0 0 1 325.9843 362.5954 cm 0 0 m 31.181 0 l S Q BT 13 0 0 13 325.9843 363.9964 Tm ( )Tj ET q 1 0 0 1 362.8347 362.5954 cm 0 0 m 170.079 0 l S Q BT 13 0 0 13 362.8347 363.9964 Tm ( )Tj /T1_0 1 Tf 0.025 Tc 10.4 0 0 13 85.0394 333.9964 Tm (Unlisted equity )Tj -0.025 Tw 0 -1.154 Td (investments)Tj 0 Tw 8.449 1.154 Td (Adjusted net )Tj -0.025 Tw 0 -1.154 Td (asset )Tj 0 Tc 0 Tw 10.4 0 0 13 197.2905 318.9964 Tm ( )Tj 0.025 Tc 10.4 0 0 13 172.9134 303.9964 Tm (value method)Tj 7.359 2.308 Td (P/B ratio)Tj -0.025 Tw 7.359 0 Td (1.0x)Tj 0 Tw 3.543 0 Td [(T)0.5 (h)0.5 (e)0.5 ( )0.5 (e)0.5 (s)0.5 (t)0.5 (i)0.5 (m)0.5 (a)0.5 (t)0.5 (e)0.5 (d)0.5 ( )0.5 (f)0.5 (a)0.5 (i)0.5 (r)0.5 ( v)0.5 (a)0.6 (lu)0.5 (e)0.5 ( )0.5 (w)0.5 (o)0.5 (u)0.5 (l)0.5 (d)0.5 ( )0.5 (i)0.5 (n)0.5 (c)0.5 (r)0.5 (e)0.5 (a)0.5 (s)0.5 (e )]TJ 0 -1.154 Td (if the P/B ratio was higher and vice )Tj -0.025 Tw 0 -1.154 Td (versa)Tj 0.049 Tc 0.07 Tw 13 0 0 13 85.0393 275.6474 Tm [(T)0.5 (h)0.5 (e)13 ( )0.5 (m)0.5 (a)0.5 (na)0.6 (ge)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (th)0.5 (e)13 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)13 ( )0.5 (is)13 ( )0.5 (r)0.5 (e)0.5 (s)0.5 (p)0.5 (o)0.5 (n)0.5 (s)0.5 (i)0.5 (bl)0.5 (e)13 ( )0.5 (f)0.5 (o)0.5 (r)13 ( )0.5 (d)0.5 (e)0.5 (t)0.5 (e)0.5 (rm)0.5 (i)0.5 (n)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (th)0.5 (e)13 ( )0.5 (a)0.5 (p)0.5 (p)0.5 (r)0.5 (o)0.5 (p)0.5 (ri)0.5 (a)0.5 (t)0.5 (e)24 ( )]TJ 0.025 Tc 0.039 Tw 0 -1.154 Td (valuation techniques and inputs for fair value measurements. The managem\ent of )Tj 0.023 Tc 0 Tw 0 -1.154 Td [(the Group regularly reports to the Board in relation to the fair value m\easurements)-2 ( )]TJ 0.025 Tc 0 -1.154 Td (of the aforesaid financial assets.)Tj 0.045 Tc 0.07 Tw 0 -2.308 Td [(The)12.3 ( methods)12.3 ( and)12.3 ( valuation)12.3 ( techniques)12.3 ( used)12.4 ( for)12.3 ( the)12.3 ( purpose)12.3 ( of)12.3 ( measuring)12.3 ( fair)20 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (values categorised in Level 3 are unchanged.)Tj ET endstreamendobj140 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 43 \226)Tj /T1_1 1 Tf 0.115 Tc 0.07 Tw 13 0 0 13 56.6929 776.0055 Tm [(2)90 (0)90 (.)90 ( )-420.5 (FAIR)12.5 ( VALUE)12.5 ( AND)12.5 ( FAIR)12.5 ( VALUE)12.5 ( HIERARCHY)12.5 ( OF)12.5 ( FINANCIAL)90 ( )]TJ 0.025 Tc -0.025 Tw 2.181 -1.231 Td (INSTRUMENTS)Tj 0 Tw 0 -2.462 Td (Fair value)Tj /T1_0 1 Tf 0.058 Tw 0 -2.462 Td (The carrying amounts and fair values of the Group\222s financial instrum\ents are as )Tj -0.025 Tw 0 -1.231 Td (follows:)Tj /T1_1 1 Tf 0 Tw 11.582 -2.462 Td (Carrying amounts)Tj 14.701 0 Td (Fair values)Tj -14.475 -1.231 Td (30 June)Tj -0.025 Tw 1.381 -1.231 Td (2026)Tj /T1_0 1 Tf 0 Tw 3.008 1.231 Td (31 December)Tj -0.025 Tw 3.534 -1.231 Td (2025)Tj /T1_1 1 Tf 0 Tw 5.161 1.231 Td (30 June)Tj -0.025 Tw 1.381 -1.231 Td (2026)Tj /T1_0 1 Tf 0 Tw 3.008 1.231 Td (31 December)Tj -0.025 Tw 3.534 -1.231 Td (2025)Tj /T1_1 1 Tf -22.25 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 7.87 0 Td (Audited)Tj /T1_1 1 Tf 5.213 0 Td (Unaudited)Tj /T1_0 1 Tf 7.87 0 Td (Audited)Tj /T1_1 1 Tf 13 0 3.4833 13 226.023 584.0055 Tm (RMB\222000)Tj /T1_0 1 Tf 6.651 0 Td (RMB\222000)Tj /T1_1 1 Tf 6.431 0 Td (RMB\222000)Tj /T1_0 1 Tf 6.651 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 209.7638 579.5955 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 204.0945 580.9965 Tm ( )Tj ET q 1 0 0 1 294.8031 579.5955 cm 0 0 m 73.701 0 l S Q BT 13 0 0 13 289.1339 580.9965 Tm ( )Tj ET q 1 0 0 1 379.8425 579.5955 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 13 0 0 13 374.1732 580.9965 Tm ( )Tj ET q 1 0 0 1 464.8819 579.5955 cm 0 0 m 73.701 0 l S Q BT 13 0 0 13 459.2126 580.9965 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -28.783 -2.462 Td (Financial liabilities)Tj /T1_0 1 Tf -0.025 Tw 0 -1.231 Td (Long-term )Tj 1.003 -1.231 Td (interest-bearing )Tj 0 Tw 0 -1.231 Td (bank borrowings )Tj 0 -1.231 Td (and other loans )Tj 0 -1.231 Td (\(other than lease )Tj -0.025 Tw 0 -1.231 Td (liabilities\) )Tj 13 0 3.4833 13 156.947 452.9965 Tm (\(Note )Tj -4.301 -1.231 Td (17\))Tj /T1_1 1 Tf 13 0 0 13 239.2646 436.9965 Tm (483,315)Tj /T1_0 1 Tf 6.541 0 Td (222,147)Tj /T1_1 1 Tf 6.541 0 Td (447,710)Tj /T1_0 1 Tf 6.541 0 Td (194,864)Tj ET 2.5 w q 1 0 0 1 209.7638 431.4319 cm 0 0 m 73.701 0 l S Q 0.835 w q 1 0 0 1 209.7638 428.0994 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 204.0945 429.3329 Tm ( )Tj ET 2.5 w q 1 0 0 1 294.8032 431.4319 cm 0 0 m 73.701 0 l S Q 0.835 w q 1 0 0 1 294.8032 428.0994 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 13 0 0 13 289.1339 429.3329 Tm ( )Tj ET 2.5 w q 1 0 0 1 379.8425 431.4319 cm 0 0 m 73.701 0 l S Q 0.835 w q 1 0 0 1 379.8426 428.0994 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 13 0 0 13 374.1732 429.3329 Tm ( )Tj ET 2.5 w q 1 0 0 1 464.8819 431.4319 cm 0 0 m 73.701 0 l S Q 0.835 w q 1 0 0 1 464.8819 428.0994 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 13 0 0 13 459.2126 429.3329 Tm ( )Tj 0.058 Tc 0.07 Tw -28.783 -2.335 Td [(Management)12.1 ( has)12.1 ( assessed)12.1 ( that)12.1 ( the)12.1 ( fair)12.1 ( values)12.1 ( of)12.1 ( cash)12.1 ( and)12.1 ( cash)12.1 ( equivalents,)33 ( )]TJ 0.088 Tc 0 -1.231 Td [(restricted)12.8 ( cash,)12.8 ( trade)12.8 ( and)12.7 ( bills)12.8 ( receivables,)12.8 ( financial)12.7 ( assets)12.7 ( included)12.8 ( in)63 ( )]TJ 0.071 Tc 0 -1.231 Td [(prepayments,)12.5 ( other)12.4 ( receivables)12.5 ( and)12.4 ( other)12.5 ( assets,)12.5 ( trade)12.5 ( payables,)12.4 ( financial)45.9 ( )]TJ 0.049 Tc 0 -1.231 Td [(liabilities)12.5 ( included)12.5 ( in)12.5 ( other)12.5 ( payables)12.6 ( and)12.5 ( accruals,)12.5 ( and)12.5 ( the)12.6 ( current)12.5 ( portion)12.6 ( of)24 ( )]TJ 0.031 Tc -0.031 Tw 0 -1.231 Td (interest)Tj 0 Tc 0 Tw (-)Tj 0.031 Tc 0.077 Tw 3.557 0 Td [(bearing)6 ( )0.5 (bank)6 ( )0.5 (borrowings)6 ( )0.5 (and)6 ( )0.5 (other)6 ( )0.5 (loans,)6 ( )0.5 (approximate)6 ( )0.5 (to)6 ( )0.6 (their)6 ( )0.5 (carrying)6 ( )]TJ 0.025 Tc 0 Tw -3.557 -1.231 Td (amounts largely due to the short term maturities of these instruments.)Tj 0.003 Tw 0 -2.385 Td (The Group\222s corporate finance team headed by the finance manager is r\esponsible )Tj 0.06 Tc 0.07 Tw 0 -1.154 Td [(for)12.3 ( determining)12.4 ( the)12.4 ( policies)12.3 ( and)12.3 ( procedures)12.4 ( for)12.3 ( the)12.4 ( fair)12.3 ( value)12.3 ( disclosure)12.4 ( of)35 ( )]TJ 0.047 Tc 0 -1.154 Td [(financial)12.1 ( instruments.)12.1 ( The)12.1 ( Group\222s)12.1 ( corporate)12.2 ( finance)12.1 ( team)12.1 ( reports)12.1 ( directly)12.1 ( to)22 ( )]TJ 0.025 Tc 0.08 Tw 0 -1.154 Td (management. As at 30 June 2026 and 31 December 2025, the Group\222s corp\orate )Tj 0.027 Tc 0.081 Tw 0 -1.154 Td [(finance)2 ( )0.5 (team)2 ( analysed)2 ( )0.5 (the)2 ( )0.5 (movements)2 ( )0.5 (in)2 ( )0.5 (the)2 ( )0.5 (values)1.9 ( )0.5 (of)2 ( )0.5 (financial)2 ( instruments)2 ( )0.5 (and)2 ( )]TJ 0.025 Tc 0.023 Tw 0 -1.154 Td (determined the major inputs applied in the valuation. The valuation was \reviewed )Tj 0 Tw 0 -1.154 Td (and approved by management.)Tj ET endstreamendobj139 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 42 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.0055 Tm [(19. )-580.5 (RELATED PARTY TRANSACTIONS)]TJ /T1_0 1 Tf 0 Tc ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 19.828 0 Td (\(CONTINUED\))Tj 0 Tw -17.648 -2.462 Td [(\(e\) )-720.5 (Property leases \(Continued\))]TJ 18.612 -2.462 Td (For the six months ended 30 June)Tj -0.025 Tw 5.043 -1.231 Td (2026)Tj /T1_0 1 Tf 9.158 0 Td (2025)Tj /T1_1 1 Tf -11.784 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 9.493 0 Td (Unaudited)Tj /T1_1 1 Tf 13 0 3.4833 13 362.086 664.0055 Tm (RMB\222000)Tj /T1_0 1 Tf 9.268 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 311.811 659.5955 cm 0 0 m 107.717 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 412.3776 660.9965 Tm ( )Tj ET q 1 0 0 1 430.8661 659.5955 cm 0 0 m 107.717 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 660.9965 Tm ( )Tj 0.025 Tc -32.157 -2.462 Td (Depreciation charge)Tj /T1_1 1 Tf -0.025 Tw 20.674 0 Td (11,704)Tj /T1_0 1 Tf 9.158 0 Td (11,598)Tj ET 2.5 w q 1 0 0 1 311.811 623.4319 cm 0 0 m 107.717 0 l S Q 0.835 w q 1 0 0 1 311.811 620.0994 cm 0 0 m 107.717 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 306.1417 621.3329 Tm ( )Tj ET 2.5 w q 1 0 0 1 430.8661 623.4319 cm 0 0 m 107.717 0 l S Q 0.835 w q 1 0 0 1 430.8661 620.0994 cm 0 0 m 107.717 0 l S Q BT /T1_0 1 Tf 13 0 0 13 425.1968 621.3329 Tm ( )Tj 0.025 Tc -23.985 -2.462 Td (Interest expense)Tj /T1_1 1 Tf -0.025 Tw 21.199 0 Td (3,361)Tj /T1_0 1 Tf 9.158 0 Td (3,793)Tj ET 2.5 w q 1 0 0 1 311.811 583.7683 cm 0 0 m 107.717 0 l S Q 0.835 w q 1 0 0 1 311.811 580.4358 cm 0 0 m 107.717 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 306.1417 581.6693 Tm ( )Tj ET 2.5 w q 1 0 0 1 430.8661 583.7683 cm 0 0 m 107.717 0 l S Q 0.835 w q 1 0 0 1 430.8661 580.4358 cm 0 0 m 107.717 0 l S Q BT /T1_0 1 Tf 13 0 0 13 425.1968 581.6693 Tm ( )Tj 0.025 Tc -0.025 Tw -23.985 -2.462 Td (Payments)Tj /T1_1 1 Tf 0 Tc 0 Tw 23.049 0 Td (\226)Tj /T1_0 1 Tf 9.158 0 Td (\226)Tj ET 2.5 w q 1 0 0 1 311.8109 544.1048 cm 0 0 m 107.717 0 l S Q 0.835 w q 1 0 0 1 311.8109 540.7723 cm 0 0 m 107.717 0 l S Q BT /T1_1 1 Tf 13 0 0 13 412.3775 542.0058 Tm ( )Tj ET 2.5 w q 1 0 0 1 430.8661 544.1048 cm 0 0 m 107.717 0 l S Q 0.835 w q 1 0 0 1 430.8661 540.7723 cm 0 0 m 107.717 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4326 542.0058 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -34.338 -2.335 Td (\(f\))Tj 0 Tc 0 Tw ( )Tj 0.025 Tc 2.181 0 Td (Asset transfer)Tj /T1_0 1 Tf 0.037 Tc 0.071 Tw 0 -2.462 Td [(During)12 ( )0.5 (the)12 ( )0.5 (six)12 ( )0.5 (months)12 ( )0.5 (ended)12 ( )0.5 (3)12 (0)12 ( )0.5 (June)12 ( )0.5 (2)12 (0)12 (2)12 (6)12 (,)12 ( )0.5 (the)12 ( )0.5 (Group)12 ( )0.5 (disposed)12 ( )0.5 (of)12 ( )0.5 (certain)12 ( )]TJ 0.048 Tc 0.07 Tw 0 -1.231 Td [(property,)12.7 ( plant)12.7 ( and)12.7 ( equipment)12.7 ( relating)12.7 ( to)12.7 ( the)12.7 ( Water)12.7 ( Management)12.7 ( Centre)23 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 Td [(Project)12 ( )0.5 (of)12 ( )0.5 (Yan\222an)12 ( )0.5 (Thermal)12 ( )0.5 (Power)12 ( )0.5 (Plant)12 ( )0.5 (to)12 ( )0.5 (Datang)12 ( )0.5 (Yan\222an)12 ( )0.5 (Thermal)12 ( )0.5 (Power)12 ( )]TJ 0.025 Tc 0.067 Tw 0 -1.231 Td (Plant \(a connected person of the Company\) at a ta)Tj -0.025 Tw (x-e)Tj 0.067 Tw (xclusive consideration )Tj 0.052 Tc 0.083 Tw 0 -1.231 Td [(o)-12.5 (f )0.5 (R)-12.5 (M)-12.5 (B51,161,000 )0.5 (\()-12.5 (t)-12.5 (a)]TJ 0.065 Tc -0.065 Tw 10.391 0 Td [(x)0.5 (-)0.5 (i)]TJ 0.07 Tw 1.305 0 Td [(n)0.5 (c)0.5 (l)0.5 (u)0.5 (s)0.5 (i)0.5 (v)0.5 (e)13 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (s)0.5 (i)0.5 (d)0.5 (e)0.5 (r)0.5 (a)0.5 (t)0.5 (i)0.5 (on)13 ( )0.5 (R)0.5 (M)0.5 (B)13 (5)13 (7)13 (,)13 (8)13 (1)13 (2)13 (,)13 (0)13 (0)13 (0)13 (\))0.5 (.)13 ( )0.5 (T)0.5 (he)40.1 ( )]TJ 0.033 Tc 0.075 Tw -11.696 -1.231 Td [(carrying)8 ( )0.5 (amount)8 ( )0.5 (of)8 ( )0.5 (the)8 ( )0.5 (assets)8 ( )0.5 (at)8.1 ( )0.5 (the)8.1 ( )0.5 (date)8 ( )0.5 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following transact\ions is)-1 ( )]TJ 0.025 Tc 0 -1.231 Td (required for disclosure:)Tj /T1_1 1 Tf 13 0 3.4833 13 112.0517 264.0055 Tm [(\226 )-1380.5 (Deposits and borrowings)]TJ /T1_0 1 Tf 0.028 Tc 0.08 Tw 13 0 0 13 141.7323 232.0055 Tm [(Except)3 ( )0.5 (for)3 ( )0.5 (the)3 ( )0.5 (cash)3 ( )0.5 (and)3 ( )0.6 (cash)3 ( )0.5 (equivalents)3 ( )0.5 (deposited)3 ( )0.5 (in)3 ( )0.5 (Datang)3 ( )0.5 (Finance)3.1 ( )]TJ 0.044 Tc 0.07 Tw 0 -1.231 Td [(a)0.5 (n)0.5 (d)12.9 ( )0.5 (W)0.5 (i)0.5 (ng)13 ( )0.5 (L)0.5 (un)0.5 (g)13 ( )0.5 (B)0.5 (an)0.5 (k)13 ( )0.5 (in)13 ( )0.5 (H)0.5 (on)0.5 (g)13 ( )0.5 (Ko)0.5 (n)0.5 (g)0.5 (,)12.9 ( )0.5 (t)0.5 (h)0.5 (e)12.9 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (up)13 ( )0.5 (d)0.5 (ep)0.5 (o)0.5 (s)0.5 (it)0.5 (s)13 ( )0.5 (mo)0.5 (s)0.5 (t)13 ( )0.5 (of)13 ( )0.5 (i)0.5 (ts)19 ( )]TJ 0.04 Tc 0 -1.231 Td [(r)0.5 (e)0.6 (m)0.5 (a)0.5 (i)0.6 (n)0.5 (i)0.5 (n)0.6 (g)13 ( )0.5 (c)0.6 (a)0.5 (s)0.5 (h)13.1 ( )0.5 (i)0.5 (n)13 ( )0.6 (g)0.5 (o)0.5 (v)0.6 (e)0.5 (r)0.5 (n)0.6 (m)0.5 (e)0.5 (n)0.6 (t)0.5 (-)0.5 (r)0.6 (e)0.5 (l)0.5 (a)0.6 (t)0.5 (e)0.5 (d)13.1 ( )0.5 (f)0.5 (i)0.6 (n)0.5 (a)0.5 (n)0.5 (c)0.6 (i)0.5 (a)0.6 (l)13 ( )0.5 (i)0.5 (n)0.6 (s)0.5 (t)0.5 (i)0.6 (t)0.5 (u)0.5 (t)0.5 (i)0.6 (o)0.5 (n)0.5 (s)0.6 (,)13 ( )0.5 (a)0.5 (n)0.6 (d)13 ( )0.5 (a)0.6 (l)0.5 (s)0.5 (o)15 ( )]TJ 0.025 Tc 0.032 Tw 0 -1.231 Td (obtains short-term and long-term loans from these financial institutions\ )Tj 0.066 Tc 0.07 Tw 0 -1.231 Td [(in)12.5 ( the)12.5 ( ordinary)12.6 ( course)12.5 ( of)12.6 ( business.)12.6 ( The)12.5 ( interest)12.5 ( rates)12.6 ( of)12.5 ( the)12.6 ( bank)40.9 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (deposits and loans are regulated by the People\222s Bank of China.)Tj ET endstreamendobj146 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 39 \226)Tj /T1_1 1 Tf 13 0 0 13 380.269 707.5408 Tm (30 June)Tj -0.025 Tw 1.381 -1.231 Td (2026)Tj /T1_0 1 Tf 0 Tw 5.188 1.231 Td (31 December)Tj -0.025 Tw 3.534 -1.231 Td (2025)Tj /T1_1 1 Tf -11.348 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 10.051 0 Td (Audited)Tj /T1_1 1 Tf 13 0 3.4833 13 367.7553 659.5408 Tm (RMB\222000)Tj /T1_0 1 Tf 8.832 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 323.1496 655.1307 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 656.5317 Tm ( )Tj ET q 1 0 0 1 436.5354 655.1307 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 656.5317 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -24.422 -2.462 Td (Trade payables)Tj /T1_0 1 Tf 0 -1.231 Td (China Datang Group)Tj /T1_1 1 Tf -0.025 Tw 19.785 0 Td (1,105,652)Tj /T1_0 1 Tf 8.722 0 Td (1,208,375)Tj 0 Tw -28.507 -1.231 Td (The associates and joint ventures of )Tj 1.003 -1.231 Td (China Datang Group)Tj /T1_1 1 Tf -0.025 Tw 19.582 0 Td (245,221)Tj /T1_0 1 Tf 8.722 0 Td (267,387)Tj ET q 1 0 0 1 323.1496 572.1216 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 573.5226 Tm ( )Tj ET q 1 0 0 1 436.5354 572.1216 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 573.5226 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -4.636 -2.462 Td (1,350,873)Tj /T1_0 1 Tf 8.722 0 Td (1,475,762)Tj ET 2.5 w q 1 0 0 1 323.1496 535.9581 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1496 532.6256 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 533.8591 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.5355 535.9581 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 436.5354 532.6256 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 533.8591 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -24.422 -2.462 Td (Other payables and accruals)Tj /T1_0 1 Tf 0 -1.231 Td (China Datang Group)Tj /T1_1 1 Tf -0.025 Tw 21.11 0 Td (59,353)Tj /T1_0 1 Tf 8.197 0 Td (239,479)Tj 0 Tw -29.307 -1.231 Td (The associates and joint ventures of )Tj 1.003 -1.231 Td (China Datang Group)Tj /T1_1 1 Tf 0 Tc 22.482 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 6.872 0 Td (2,886)Tj ET 0.5 w q 1 0 0 1 323.1496 449.4491 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 450.85 Tm ( )Tj ET q 1 0 0 1 436.5354 449.4491 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 450.85 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -3.311 -2.462 Td (59,353)Tj /T1_0 1 Tf 8.197 0 Td (242,365)Tj ET 2.5 w q 1 0 0 1 323.1495 413.2855 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1495 409.953 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4802 411.1865 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.5353 413.2855 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 436.5353 409.953 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 411.1865 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -28.783 27.877 Td [(19. )-580.5 (RELATED PARTY TRANSACTIONS)]TJ /T1_0 1 Tf 0 Tc ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 19.828 0 Td (\(CONTINUED\))Tj 0 Tw -17.648 -2.462 Td [(\(b\) )-608.5 (Outstanding balances with related parties \(Continued\))]TJ ET endstreamendobj145 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 38 \226)Tj /T1_1 1 Tf 13 0 0 13 380.269 707.5408 Tm (30 June)Tj -0.025 Tw 1.381 -1.231 Td (2026)Tj /T1_0 1 Tf 0 Tw 5.188 1.231 Td (31 December)Tj -0.025 Tw 3.534 -1.231 Td (2025)Tj /T1_1 1 Tf -11.348 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 10.051 0 Td (Audited)Tj /T1_1 1 Tf 13 0 3.4833 13 367.7553 659.5408 Tm (RMB\222000)Tj /T1_0 1 Tf 8.832 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 323.1496 655.1307 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0468 656.5317 Tm ( )Tj ET q 1 0 0 1 436.5354 655.1307 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 656.5317 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -32.157 -2.462 Td (Prepayments, other receivables )Tj 1.003 -1.231 Td (and other assets)Tj /T1_0 1 Tf -0.025 Tw -1.003 -1.231 Td (Prepayments)Tj 0 Tw 0 -1.231 Td (China Datang Group)Tj /T1_1 1 Tf -0.025 Tw 21.11 0 Td (67,669)Tj /T1_0 1 Tf 8.722 0 Td (39,202)Tj ET q 1 0 0 1 323.1495 572.1216 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0468 573.5226 Tm ( )Tj ET q 1 0 0 1 436.5354 572.1216 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4326 573.5226 Tm ( )Tj 0.025 Tc -32.157 -2.462 Td (Other receivables)Tj 0 -1.231 Td (China Datang Group)Tj /T1_1 1 Tf -0.025 Tw 21.11 0 Td (24,603)Tj /T1_0 1 Tf 8.722 0 Td (24,280)Tj 0 Tw -29.832 -1.231 Td (The associates and joint ventures of )Tj 1.003 -1.231 Td (China Datang Group)Tj /T1_1 1 Tf -0.025 Tw 21.432 0 Td (363)Tj /T1_0 1 Tf 8.722 0 Td (363)Tj ET q 1 0 0 1 323.1495 489.1126 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0467 490.5136 Tm ( )Tj ET q 1 0 0 1 436.5353 489.1126 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4326 490.5136 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -11.047 -2.462 Td (24,966)Tj /T1_0 1 Tf 8.722 0 Td (24,643)Tj ET q 1 0 0 1 323.1494 454.1035 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4801 455.5045 Tm ( )Tj ET q 1 0 0 1 436.5352 454.1035 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.866 455.5045 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -3.311 -2.462 Td (92,635)Tj /T1_0 1 Tf 8.722 0 Td (63,845)Tj ET 2.5 w q 1 0 0 1 323.1494 417.94 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1494 414.6075 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0466 415.841 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.5352 417.94 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 436.5352 414.6075 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4324 415.841 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -32.157 -2.462 Td (Other non-current assets)Tj /T1_0 1 Tf 0 -1.231 Td (China Datang Group)Tj /T1_1 1 Tf -0.025 Tw 21.11 0 Td (14,716)Tj /T1_0 1 Tf 8.722 0 Td (25,967)Tj 0 Tw -29.832 -1.231 Td (The associates and joint ventures of )Tj 1.003 -1.231 Td (China Datang Group)Tj /T1_1 1 Tf 0 Tc 22.482 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 7.672 0 Td (435)Tj ET 0.5 w q 1 0 0 1 323.1493 331.4309 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0465 332.8319 Tm ( )Tj ET q 1 0 0 1 436.5351 331.4309 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4324 332.8319 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -11.047 -2.462 Td (14,716)Tj /T1_0 1 Tf 8.722 0 Td (26,402)Tj ET 2.5 w q 1 0 0 1 323.1492 295.2674 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1492 291.9349 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0465 293.1684 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.5351 295.2674 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 436.5351 291.9349 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4323 293.1684 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -32.157 -2.462 Td (Interest-bearing bank borrowings )Tj 0.023 Tc 1.003 -1.231 Td [(and other loans \(other than lease)-2 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (liabilities\))Tj /T1_0 1 Tf 0 Tw -1.003 -1.231 Td (Datang Finance)Tj /T1_1 1 Tf -0.025 Tw 21.11 0 Td (30,000)Tj /T1_0 1 Tf 8.722 0 Td (20,000)Tj ET 2.5 w q 1 0 0 1 323.1492 207.6039 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1492 204.2714 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0464 205.5049 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.535 207.6039 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 436.535 204.2714 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4323 205.5049 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -36.518 43.699 Td [(19. )-580.5 (RELATED PARTY TRANSACTIONS)]TJ /T1_0 1 Tf 0 Tc ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 19.828 0 Td (\(CONTINUED\))Tj 0 Tw -17.648 -2.462 Td [(\(b\) )-608.5 (Outstanding balances with related parties \(Continued\))]TJ ET endstreamendobj144 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 37 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.0055 Tm [(19. )-580.5 (RELATED PARTY TRANSACTIONS)]TJ /T1_0 1 Tf 0 Tc ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 19.828 0 Td (\(CONTINUED\))Tj 0 Tw -17.648 -2.462 Td [(\(b\) )-608.5 (Outstanding balances with related parties)]TJ /T1_0 1 Tf 0.068 Tc 0.07 Tw 2.18 -2.462 Td [(The)12.5 ( outstanding)12.4 ( balances)12.5 ( with)12.5 ( related)12.5 ( parties)12.4 ( at)12.5 ( 3)12.4 (0)12.5 ( June)12.5 ( 2)12.5 (0)12.4 (2)12.5 (6)12.4 ( and)12.5 ( 3)12.5 (1)43 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (December 2025 are as follows:)Tj /T1_1 1 Tf 20.529 -2.462 Td (30 June)Tj -0.025 Tw 1.381 -1.231 Td (2026)Tj /T1_0 1 Tf 0 Tw 5.188 1.231 Td (31 December)Tj -0.025 Tw 3.534 -1.231 Td (2025)Tj /T1_1 1 Tf -11.348 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 10.051 0 Td (Audited)Tj /T1_1 1 Tf 13 0 3.4833 13 367.7553 616.0055 Tm (RMB\222000)Tj /T1_0 1 Tf 8.832 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 323.1496 611.5955 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 612.9965 Tm ( )Tj ET q 1 0 0 1 436.5354 611.5955 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 612.9965 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -24.422 -2.462 Td (Cash and cash equivalents)Tj /T1_0 1 Tf 0 -1.231 Td (Datang Finance)Tj /T1_1 1 Tf -0.025 Tw 19.785 0 Td (1,477,252)Tj /T1_0 1 Tf 8.722 0 Td (1,820,341)Tj ET q 1 0 0 1 323.1496 560.5864 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 561.9874 Tm ( )Tj ET q 1 0 0 1 436.5354 560.5864 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 561.9874 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -24.422 -2.462 Td (Trade, bills receivables and )Tj 0 Tc ( )Tj 0.025 Tc 1.003 -1.231 Td (contract assets)Tj /T1_0 1 Tf -1.003 -1.231 Td (Trade and bills receivables)Tj 0 -1.231 Td (China Datang Group)Tj /T1_1 1 Tf -0.025 Tw 19.785 0 Td (4,097,293)Tj /T1_0 1 Tf 8.722 0 Td (4,458,437)Tj 0 Tw -28.507 -1.231 Td (The associates and joint ventures of )Tj 1.003 -1.231 Td (China Datang Group)Tj /T1_1 1 Tf -0.025 Tw 19.582 0 Td (763,029)Tj /T1_0 1 Tf 8.722 0 Td (677,010)Tj ET q 1 0 0 1 323.1496 445.5773 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 446.9783 Tm ( )Tj ET q 1 0 0 1 436.5354 445.5773 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 446.9783 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -4.636 -2.462 Td (4,860,322)Tj /T1_0 1 Tf 8.722 0 Td (5,135,447)Tj ET q 1 0 0 1 323.1496 410.5683 cm 0 0 m 102.047 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 317.4803 411.9692 Tm ( )Tj ET q 1 0 0 1 436.5354 410.5683 cm 0 0 m 102.047 0 l S Q BT 13 0 0 13 430.8661 411.9692 Tm ( )Tj 0.025 Tc -24.422 -2.462 Td (Contract assets)Tj 0 -1.231 Td (China Datang Group)Tj /T1_1 1 Tf -0.025 Tw 21.11 0 Td (51,754)Tj /T1_0 1 Tf 8.722 0 Td (26,300)Tj 0 Tw -29.832 -1.231 Td (The associates and joint ventures of )Tj 1.003 -1.231 Td (China Datang Group)Tj /T1_1 1 Tf -0.025 Tw 20.107 0 Td (10,143)Tj /T1_0 1 Tf 9.247 0 Td (1,792)Tj ET q 1 0 0 1 323.1495 327.5592 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4802 328.9602 Tm ( )Tj ET q 1 0 0 1 436.5353 327.5592 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 328.9602 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -3.311 -2.462 Td (61,897)Tj /T1_0 1 Tf 8.722 0 Td (28,092)Tj ET q 1 0 0 1 323.1494 292.5501 cm 0 0 m 102.047 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 317.4801 293.9511 Tm ( )Tj ET q 1 0 0 1 436.5352 292.5501 cm 0 0 m 102.047 0 l S Q BT 13 0 0 13 430.866 293.9511 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -4.636 -2.462 Td (4,922,219)Tj /T1_0 1 Tf 8.722 0 Td (5,163,539)Tj ET 2.5 w q 1 0 0 1 323.1494 256.3866 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1494 253.0541 cm 0 0 m 102.047 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 317.4801 254.2876 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.5353 256.3866 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 436.5352 253.0541 cm 0 0 m 102.047 0 l S Q BT 13 0 0 13 430.866 254.2876 Tm ( )Tj ET endstreamendobj143 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 36 \226)Tj /T1_1 1 Tf 13 0 0 13 332.6584 707.5408 Tm (For the six months ended 30 June)Tj -0.025 Tw 5.043 -1.231 Td (2026)Tj /T1_0 1 Tf 8.722 0 Td (2025)Tj /T1_1 1 Tf -11.348 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 9.057 0 Td (Unaudited)Tj /T1_1 1 Tf 13 0 3.4833 13 367.7553 659.5408 Tm (RMB\222000)Tj /T1_0 1 Tf 8.832 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 323.1496 655.1398 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 656.5408 Tm ( )Tj ET q 1 0 0 1 436.5354 655.1398 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 656.5408 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -24.422 -3.692 Td (Loans from and repayments to )Tj 1.003 -1.231 Td (a subsidiary of China Datang )Tj -0.025 Tw 0 -1.231 Td (Group)Tj /T1_0 1 Tf 0 Tw -1.003 -1.231 Td (China Datang Finance Co., Ltd* )Tj -0.025 Tw 1.003 -1.231 Td (\(\223)Tj /T1_1 1 Tf 0 Tw (Datang Finance)Tj /T1_0 1 Tf -0.025 Tw (\224\))Tj /T1_1 1 Tf 19.582 0 Td (420,000)Tj /T1_0 1 Tf 8.722 0 Td (460,000)Tj ET 2.5 w q 1 0 0 1 323.1496 538.9762 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1496 535.6437 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 536.8772 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.5354 538.9762 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 436.5354 535.6437 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 536.8772 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -24.422 -2.462 Td (Interest expense on loans from )Tj 1.003 -1.231 Td (subsidiaries of China Datang )Tj -0.025 Tw 0 -1.231 Td (Group)Tj /T1_0 1 Tf 0 Tw -1.003 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0 13 56.6929 776.409 Tm [(18. )0.5 (COMMITMENTS)]TJ /T1_0 1 Tf 0.074 Tc 0.07 Tw 2.181 -2.462 Td [(The)12.3 ( Group)12.3 ( had)12.3 ( the)12.3 ( following)12.2 ( capital)12.2 ( commitments)12.2 ( of)12.3 ( property,)12.3 ( plant)12.2 ( and)49 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (equipment at the end of the reporting period:)Tj /T1_1 1 Tf 22.71 -2.462 Td (30 June)Tj -0.025 Tw 1.381 -1.231 Td (2026)Tj /T1_0 1 Tf 0 Tw 5.188 1.231 Td (31 December)Tj -0.025 Tw 3.534 -1.231 Td (2025)Tj /T1_1 1 Tf -11.348 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 10.051 0 Td (Audited)Tj /T1_1 1 Tf 13 0 3.4833 13 367.7554 648.4089 Tm (RMB\222000)Tj /T1_0 1 Tf 8.832 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 323.1497 643.9989 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0469 645.3999 Tm ( )Tj ET q 1 0 0 1 436.5355 643.9989 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 645.3999 Tm ( )Tj 0.025 Tc -34.338 -2.462 Td (Contracted, but not provided for)Tj -0.025 Tw 1.003 -1.231 Td (Buildings)Tj /T1_1 1 Tf 22.813 0 Td (3,561)Tj /T1_0 1 Tf 9.522 0 Td (457)Tj 0 Tw -32.335 -1.231 Td (Plant and equipment)Tj /T1_1 1 Tf -0.025 Tw 22.288 0 Td (12,824)Tj /T1_0 1 Tf 8.197 0 Td (280,872)Tj 0 Tw -30.485 -1.231 Td (Equity investment )Tj -0.025 Tw 13 0 3.4833 13 200.822 565.3999 Tm (\(Note\))Tj /T1_1 1 Tf 13 0 0 13 387.8219 565.3999 Tm (36,841)Tj /T1_0 1 Tf 8.722 0 Td (42,896)Tj ET q 1 0 0 1 323.1496 560.9898 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 562.3908 Tm ( )Tj ET q 1 0 0 1 436.5354 560.9898 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 562.3908 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -3.311 -2.462 Td (53,226)Tj /T1_0 1 Tf 8.197 0 Td (324,225)Tj ET 2.5 w q 1 0 0 1 323.1496 524.8263 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1496 521.4938 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 522.7273 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.5354 524.8263 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 436.5354 521.4938 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 522.7273 Tm ( )Tj 0.025 Tc -0.025 Tw 11 0 2.9474 11 83.9105 495.8703 Tm (Note: )Tj 0.027 Tc 0.081 Tw 11 0 0 11 113.3858 495.8703 Tm [(On)2 ( )0.5 (2)2 (8)2 ( )0.5 (December)2 ( 2)2.1 (0)1.9 (2)2 (3)2 (,)2 ( )0.5 (the)2 ( )0.5 (Company)2.1 ( has)2 ( entered)2 ( )0.5 (into)2 ( )0.5 (the)2 ( )0.5 (capital)2.1 ( contribution)2 ( )0.5 (agreement)2 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.273 Td [(with)9 ( )0.5 (China)9.1 ( Datang,)9 ( )0.5 (Datang)9 ( )0.6 (International)9 ( )0.5 (Power)9 ( )0.5 (Generation)9 ( )0.6 (Co.,)9 ( )0.5 (Ltd.,)9 ( )0.5 (Guangxi)9 ( )0.5 (Guiguan)9 ( )]TJ 0.021 Tc 0 Tw 0 -1.273 Td [(Electric Power Co., Ltd. and China Datang Renewable Power Maintenance Co\., Ltd., which)-4 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.273 Td [(are)10 ( )0.5 (the)10 ( )0.6 (subsidiaries)10 ( )0.5 (of)10 ( )0.5 (China)10 ( )0.5 (Datang)10 ( )0.5 (and)10 ( )0.5 (DEC)10 ( )0.5 (Academy)10 ( )0.6 (of)10 ( )0.5 (Science)10.1 ( )0.5 (and)10 ( )0.5 (Technology,)10 ( )0.5 (in)10 ( )]TJ 0.025 Tc 0.056 Tw 0 -1.273 Td (relation to the proposed formation of the company with a registered capi\tal of RMB1,000 )Tj 0.047 Tw 0 -1.273 Td (million. Pursuant to the capital contribution agreement, the Company sha\ll make a capital )Tj 0.039 Tc 0.07 Tw 0 -1.273 Td [(contribution)12.2 ( of)12.3 ( RMB)12.3 (5)12.2 (0)12.3 (,)12.2 (0)12.3 (0)12.2 (0)12.3 (,)12.2 (0)12.3 (0)12.2 (0)12.3 (,)12.2 ( representing)12.2 ( 5)12.2 (%)12.3 ( equity)12.2 ( interest)12.2 ( in)12.3 ( the)12.3 ( company.)12.3 ( As)12.2 ( at)14 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.273 Td [(3)10 (0)10 ( )0.5 (June)10 ( )0.5 (2)10 (0)10 (2)10 (6)10 (,)10 ( )0.5 (the)10 ( )0.5 (Company)10 ( )0.5 (has)10 ( )0.6 (made)10 ( )0.5 (a)10 ( )0.5 (capital)10 ( )0.5 (contribution)9.9 ( )0.6 (of)10 ( )]TJ 0.025 Tc -0.025 Tw 28.041 0 Td [(R)-9.8 (M)-9.8 (B15)]TJ 0.083 Tw [(,000,000 )0.5 (a)-9.8 (n)-9.9 (d )0.5 (t)-9.8 (h)-9.9 (e )]TJ 0.03 Tc 0.078 Tw -28.041 -1.273 Td [(r)0.5 (e)0.5 (m)0.5 (a)0.5 (i)0.5 (n)0.5 (i)0.5 (n)0.5 (g)5 ( )0.5 (c)0.5 (a)0.5 (p)0.5 (i)0.5 (t)0.5 (a)0.5 (l)5 ( )0.5 (c)0.6 (o)0.5 (n)0.5 (t)0.5 (r)0.5 (i)0.5 (b)0.5 (u)0.5 (ti)0.6 (on)5 ( )0.5 (o)0.6 (f)5 ( )]TJ 0.025 Tc -0.025 Tw 14.74 0 Td [(R)-4.5 (M)-4.5 (B35)]TJ 0.03 Tc 0.078 Tw [(,)5 (0)5 (0)5 (0)5 (,)5 (0)5 (0)5 (0)5 ( )0.5 (h)0.5 (a)0.5 (s)5 ( )0.5 (n)0.5 (o)0.5 (t)5 ( )0.5 (b)0.5 (e)0.5 (e)0.5 (n)5 ( )0.5 (p)0.5 (a)0.5 (i)0.5 (d)5 ( )0.5 (a)0.5 (s)5.1 ( )0.5 (a)0.5 (t)5 ( )0.5 (t)0.5 (h)0.5 (e)5 ( )0.5 (e)0.5 (n)0.5 (d)5 ( )0.5 (o)0.5 (f)5 ( )0.5 (t)0.5 (h)0.5 (e)5 ( )]TJ 0.025 Tc 0 Tw -14.74 -1.273 Td (reporting period.)Tj 0.087 Tc 0.07 Tw 0 -2.545 Td [(O)0.6 (n)13 ( )0.5 (2)13.1 (6)13 ( )0.6 (J)0.5 (u)0.5 (n)0.6 (e)13 ( )0.6 (2)13 (0)13.1 (2)13 (4)13 (,)13.1 ( )0.5 (t)0.6 (h)0.5 (e)13.1 ( )0.5 (C)0.6 (o)0.5 (m)0.5 (p)0.6 (a)0.5 (n)0.6 (y)13 ( )0.6 (e)0.5 (s)0.6 (t)0.5 (a)0.6 (b)0.5 (l)0.5 (i)0.6 (s)0.5 (h)0.6 (e)0.5 (d)13 ( )0.6 (a)13 ( )0.6 (w)0.6 (h)0.5 (o)0.5 (l)0.6 (l)0.5 (y)0.5 (-)0.6 (o)0.5 (w)0.6 (n)0.5 (e)0.6 (d)13 ( )0.6 (s)0.5 (u)0.6 (b)0.5 (s)0.5 (i)0.6 (d)0.5 (i)0.6 (a)0.5 (r)0.6 (y)0.5 (,)13 ( )0.6 (D)0.5 (a)0.6 (t)0.5 (a)0.6 (n)0.5 (g)62 ( )]TJ 0.038 Tc 0 -1.273 Td [(E)0.5 (n)0.5 (v)0.5 (i)0.5 (r)0.5 (o)0.5 (n)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (\()0.5 (X)0.5 (i)0.5 (o)0.5 (n)0.5 (g)0.5 (\222)0.5 (a)0.5 (n)0.5 (\))13 ( )0.5 (I)0.5 (n)0.5 (t)0.5 (e)0.5 (l)0.5 (l)0.5 (i)0.5 (ge)0.6 (n)0.5 (t)12.9 ( )0.6 (E)0.5 (ne)0.6 (rg)0.6 (y)12.9 ( )0.5 (C)0.6 (om)0.5 (p)0.5 (a)0.5 (n)0.5 (y)13 ( )0.5 (L)0.5 (i)0.5 (m)0.5 (i)0.5 (t)0.5 (e)0.5 (d)0.5 (*)13 ( )0.5 (\()]TJ /C0_0 1 Tf 0.32 Tc -0.32 Tw 28.76 0 Td [<027D086514110FA4>715 <0080>176.7 <0DAA03C4>176.7 <0081>596.6 <0C7D>]TJ 0.225 Tc -0.225 Tw -28.76 -1.273 Td <114609900E5503DE082202AE0321>Tj /T1_0 1 Tf 0.025 Tc 0.077 Tw 8.5 0 Td (\), with a registered capital of RMB5 million. Pursuant to the relevant \)Tj 0.005 Tw -8.5 -1.273 Td [(agreement, )0.5 (the )0.6 (Company )0.6 (shall )0.5 (make )0.5 (a )0.6 (capital )0.5 (contribution )0.6 (of )0.5 (RMB5 )0.5 (million. )0.5 (As )0.5 (at )0.6 (30 )0.6 (June )]TJ 0.081 Tw 0 -1.273 Td (2026, the Company has made a capital contribution of RMB)Tj -0.025 Tw (3,159)Tj 0.081 Tw (,000 and the remaining )Tj 0.044 Tc 0.07 Tw 0 -1.273 Td [(capital)12.7 ( contribution)12.6 ( of)12.6 ( RMB)]TJ 0.031 Tc -0.031 Tw 12.706 0 Td (1,841)Tj 0.044 Tc 0.07 Tw [(,)12.6 (0)12.6 (0)12.6 (0)12.6 ( has)12.6 ( not)12.6 ( been)12.6 ( paid)12.6 ( as)12.6 ( at)12.6 ( the)12.6 ( end)12.6 ( of)12.7 ( the)12.6 ( reporting)19 ( )]TJ 0.025 Tc -0.025 Tw -12.706 -1.273 Td (period.)Tj ET endstreamendobj149 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 32 \226)Tj /T1_1 1 Tf 0.087 Tc 0.07 Tw 13 0 0 13 56.6929 776.0055 Tm [(1)62 (7)62 (.)62 ( )-448.5 (I)0.5 (NTER)0.5 (EST-B)0.5 (EARI)0.5 (NG)12.9 ( BA)0.5 (NK)12.9 ( B)0.5 (ORRO)0.5 (WINGS)12.9 ( )0.5 (AND)12.9 ( )0.5 (OTHER)13 ( LOA)0.5 (NS)]TJ /T1_0 1 Tf 0 Tc 0 Tw 37.093 0 Td ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -34.913 -1.231 Td (\(CONTINUED\))Tj /T1_0 1 Tf 0.034 Tc 0.074 Tw 0 -2.462 Td [(The)9.1 ( maturity)8.9 ( )0.5 (profile)9 ( )0.5 (of)9 ( )0.5 (the)9 ( )0.5 (interest-bearing)9 ( )0.5 (bank)9 ( )0.5 (borrowings)9.1 ( and)9 ( )0.5 (other)9.1 ( )0.5 (loans)9 ( )0.5 (at)9.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (the end of the reporting periods is as follows:)Tj /T1_1 1 Tf 22.71 -2.462 Td (30 June)Tj -0.025 Tw 1.381 -1.231 Td (2026)Tj /T1_0 1 Tf 0 Tw 5.188 1.231 Td (31 December)Tj -0.025 Tw 3.534 -1.231 Td (2025)Tj /T1_1 1 Tf -11.348 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 10.051 0 Td (Audited)Tj /T1_1 1 Tf 13 0 3.4833 13 367.7553 632.0055 Tm (RMB\222000)Tj /T1_0 1 Tf 8.832 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 323.1496 627.5955 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0468 628.9965 Tm ( )Tj ET q 1 0 0 1 436.5354 627.5955 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 628.9965 Tm ( )Tj 0.025 Tc -34.338 -2.077 Td (Analysed into:)Tj 0 -1.615 Td (Bank borrowings repayable:)Tj 0.654 -1.231 Td (On demand or within one year)Tj /T1_1 1 Tf -0.025 Tw 21.312 0 Td (1,343,010)Tj /T1_0 1 Tf 8.722 0 Td (2,446,742)Tj 0 Tw -30.034 -1.231 Td (In the second year)Tj /T1_1 1 Tf -0.025 Tw 22.112 0 Td (103,030)Tj /T1_0 1 Tf 9.247 0 Td (73,447)Tj 0 Tw -31.359 -1.231 Td (In the third to fifth years, inclusive)Tj /T1_1 1 Tf -0.025 Tw 22.112 0 Td (336,730)Tj /T1_0 1 Tf 9.247 0 Td (91,500)Tj 0 Tw -31.359 -1.231 Td (Beyond five years)Tj /T1_1 1 Tf -0.025 Tw 22.637 0 Td (43,555)Tj /T1_0 1 Tf 8.722 0 Td (57,200)Tj ET q 1 0 0 1 323.1495 512.5864 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0468 513.9874 Tm ( )Tj ET q 1 0 0 1 436.5354 512.5864 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4326 513.9874 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -12.372 -2.462 Td (1,826,325)Tj /T1_0 1 Tf 8.722 0 Td (2,668,889)Tj 0 Tw -30.688 -1.231 Td (Other loans repayable:)Tj 0.654 -1.231 Td (Within one year)Tj /T1_1 1 Tf -0.025 Tw 22.112 0 Td (522,573)Tj /T1_0 1 Tf 8.722 0 Td (522,179)Tj 0 Tw -30.834 -1.231 Td (On demand or within one year)Tj /T1_1 1 Tf -0.025 Tw 22.637 0 Td (23,484)Tj /T1_0 1 Tf 8.722 0 Td (23,067)Tj 0 Tw -31.359 -1.231 Td (In the third to fifth years, inclusive)Tj /T1_1 1 Tf -0.025 Tw 22.637 0 Td (75,930)Tj /T1_0 1 Tf 8.722 0 Td (74,492)Tj 0 Tw -31.359 -1.231 Td (Beyond five years)Tj /T1_1 1 Tf -0.025 Tw 22.637 0 Td (74,652)Tj /T1_0 1 Tf 8.722 0 Td (73,482)Tj ET q 1 0 0 1 323.1494 397.5773 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0466 398.9783 Tm ( )Tj ET q 1 0 0 1 436.5352 397.5773 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4324 398.9783 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -11.572 -2.462 Td (696,639)Tj /T1_0 1 Tf 8.722 0 Td (693,220)Tj ET q 1 0 0 1 323.1494 362.5683 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0466 363.9692 Tm ( )Tj ET q 1 0 0 1 436.5352 362.5683 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4324 363.9692 Tm ( )Tj 0.025 Tc -0.025 Tw -34.338 -2.462 Td (Total)Tj /T1_1 1 Tf 21.966 0 Td (2,522,964)Tj /T1_0 1 Tf 8.722 0 Td (3,362,109)Tj ET 2.5 w q 1 0 0 1 323.1494 326.4047 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1494 323.0722 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0466 324.3057 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.5352 326.4047 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 436.5352 323.0722 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4324 324.3057 Tm ( )Tj ET endstreamendobj148 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 31 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(17. )-580.5 (INTEREST-BEARING BANK BORROWINGS AND OTHER LOANS)]TJ -0.025 Tw 7.8 0 0 13 224.106 746.9089 Tm (Effective)Tj 0 Tw -1.516 -1.038 Td (interest rate)Tj -0.025 Tw 8.697 0 Td (Maturity)Tj 0 Tw 7.875 1.038 Td (30 June)Tj -0.025 Tw 1.381 -1.038 Td (2026)Tj /T1_0 1 Tf 5.478 1.038 Td (Effective)Tj 0 Tw -1.128 -1.038 Td (interest rate)Tj -0.025 Tw 8.586 0 Td (Maturity)Tj 0 Tw 5.334 1.038 Td (31 December)Tj -0.025 Tw 3.534 -1.038 Td (2025)Tj /T1_1 1 Tf -24.431 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 23.134 0 Td (Audited)Tj /T1_1 1 Tf 7.8 0 3.4833 13 333.5054 703.9089 Tm (RMB\222000)Tj /T1_0 1 Tf 21.915 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 323.1496 699.4989 cm 0 0 m 45.354 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 700.8999 Tm ( )Tj ET q 1 0 0 1 493.2284 699.4989 cm 0 0 m 45.354 0 l S Q BT /T1_0 1 Tf 13 0 0 13 487.5591 700.8999 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 7.8 0 0 13 85.0394 673.8999 Tm (Current)Tj /T1_0 1 Tf 0 Tw 0 -1.038 Td (Bank borrowings:)Tj 1.018 -1.038 Td (\226 unsecured)Tj /T1_1 1 Tf -0.025 Tw 14.704 0 Td (2.11%-)Tj 0 Tc 0 Tw (2)Tj 0.025 Tc -0.025 Tw 3.758 0 Td (.30%)Tj 7.518 0 Td (2027)Tj 5.143 0 Td (1,265,170)Tj /T1_0 1 Tf 5.719 0 Td (2.00%-3.00%)Tj 10.942 0 Td (2026)Tj 5.143 0 Td (1,786,542)Tj 0 Tw -53.947 -1.038 Td (Other loans:)Tj 1.018 -1.057 Td (\226 short-term bonds )Tj -0.025 Tw 7.8 0 3.4833 13 156.2257 619.655 Tm (\(Note\))Tj /T1_1 1 Tf 7.8 0 0 13 232.8881 619.655 Tm (1.77%)Tj 8.043 0 Td (2026)Tj 5.943 0 Td (500,000)Tj /T1_0 1 Tf 7.985 0 Td (1.77%)Tj 7.876 0 Td (2026)Tj 5.943 0 Td (500,000)Tj ET q 1 0 0 1 323.1496 615.2449 cm 0 0 m 45.354 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 616.6459 Tm ( )Tj ET q 1 0 0 1 493.2284 615.2449 cm 0 0 m 45.354 0 l S Q BT /T1_0 1 Tf 13 0 0 13 487.5591 616.6459 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 7.8 0 0 13 335.744 589.6459 Tm (1,765,170)Tj /T1_0 1 Tf 21.805 0 Td (2,286,542)Tj ET 2.5 w q 1 0 0 1 323.1496 584.0813 cm 0 0 m 45.354 0 l S Q 0.835 w q 1 0 0 1 323.1496 580.7488 cm 0 0 m 45.354 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 581.9823 Tm ( )Tj ET 2.5 w q 1 0 0 1 493.2284 584.0813 cm 0 0 m 45.354 0 l S Q 0.835 w q 1 0 0 1 493.2284 580.7488 cm 0 0 m 45.354 0 l S Q BT 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(682,379)Tj ET q 1 0 0 1 323.1496 466.5632 cm 0 0 m 45.354 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 467.9642 Tm ( )Tj ET q 1 0 0 1 493.2284 466.5632 cm 0 0 m 45.354 0 l S Q BT /T1_0 1 Tf 13 0 0 13 487.5591 467.9642 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 7.8 0 0 13 335.744 440.9642 Tm (1,865,583)Tj /T1_0 1 Tf 21.805 0 Td (2,968,921)Tj ET 2.5 w q 1 0 0 1 323.1496 435.3997 cm 0 0 m 45.354 0 l S Q 0.835 w q 1 0 0 1 323.1496 432.0672 cm 0 0 m 45.354 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 433.3007 Tm ( )Tj ET 2.5 w q 1 0 0 1 493.2284 435.3997 cm 0 0 m 45.354 0 l S Q 0.835 w q 1 0 0 1 493.2284 432.0672 cm 0 0 m 45.354 0 l S Q BT /T1_0 1 Tf 13 0 0 13 487.5591 433.3007 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 7.8 0 0 13 85.0394 406.3007 Tm (Non-current)Tj /T1_0 1 Tf 0 Tw 0 -1.038 Td (Long-term bank borrowings and )Tj 1.018 -1.038 Td (other loans:)Tj -1.018 -1.038 Td (Bank borrowings \226 unsecured)Tj /T1_1 1 Tf -0.025 Tw 15.722 0 Td (2.29%-2.83%)Tj 8.651 0 Td (2027\226)Tj 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endstreamendobj155 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 28 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(12. )-580.5 (PREPAYMENTS, OTHER RECEIVABLES AND OTHER ASSETS)]TJ 24.89 -2.077 Td (30 June)Tj -0.025 Tw 1.381 -1.231 Td (2026)Tj /T1_0 1 Tf 0 Tw 5.188 1.231 Td (31 December)Tj -0.025 Tw 3.534 -1.231 Td (2025)Tj /T1_1 1 Tf -11.348 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 10.051 0 Td (Audited)Tj /T1_1 1 Tf 13 0 3.4833 13 367.7554 701.4089 Tm (RMB\222000)Tj /T1_0 1 Tf 8.832 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 323.1497 696.9989 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4804 698.3999 Tm ( )Tj ET q 1 0 0 1 436.5355 696.9989 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8662 698.3999 Tm ( )Tj 0.025 Tc -0.025 Tw -26.602 -2.462 Td (Prepayments)Tj /T1_1 1 Tf 23.291 0 Td (98,905)Tj /T1_0 1 Tf 8.722 0 Td (69,654)Tj -32.013 -1.231 Td (Deposits)Tj /T1_1 1 Tf 23.291 0 Td (28,034)Tj /T1_0 1 Tf 8.722 0 Td (30,276)Tj 0 Tw -32.013 -1.231 Td (Other receivables)Tj /T1_1 1 Tf -0.025 Tw 22.766 0 Td (119,509)Tj /T1_0 1 Tf 8.722 0 Td (135,745)Tj 0 Tw -31.488 -1.231 Td (Other current assets)Tj /T1_1 1 Tf -0.025 Tw 22.766 0 Td (162,244)Tj /T1_0 1 Tf 8.722 0 Td (231,055)Tj ET q 1 0 0 1 323.1495 613.9898 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 615.3908 Tm ( )Tj ET q 1 0 0 1 436.5354 613.9898 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 615.3908 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -3.836 -2.462 Td (408,692)Tj /T1_0 1 Tf 8.722 0 Td (466,730)Tj 0 Tw -31.488 -1.231 Td (Less: provision for impairment)Tj /T1_1 1 Tf -0.025 Tw 22.908 0 Td (\(38,906\))Tj /T1_0 1 Tf 8.722 0 Td (\(38,906\))Tj ET q 1 0 0 1 323.1495 562.9808 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 564.3818 Tm ( )Tj ET q 1 0 0 1 436.5354 562.9808 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 564.3818 Tm ( )Tj 0.025 Tc -0.025 Tw -26.602 -2.462 Td (Total)Tj /T1_1 1 Tf 22.766 0 Td (369,786)Tj /T1_0 1 Tf 8.722 0 Td (427,824)Tj ET 2.5 w q 1 0 0 1 323.1495 526.8172 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1495 523.4847 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 317.4803 524.7182 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.5354 526.8172 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 436.5354 523.4847 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 430.8661 524.7182 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -28.783 -2.335 Td [(13. )-580.5 (CASH AND CASH EQUIVALENTS AND RESTRICTED CASH)]TJ 24.89 -2.077 Td (30 June)Tj -0.025 Tw 1.381 -1.231 Td (2026)Tj /T1_0 1 Tf 0 Tw 5.188 1.231 Td (31 December)Tj -0.025 Tw 3.534 -1.231 Td (2025)Tj /T1_1 1 Tf -11.348 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 10.051 0 Td (Audited)Tj /T1_1 1 Tf 13 0 3.4833 13 367.7553 419.3692 Tm (RMB\222000)Tj /T1_0 1 Tf 8.832 0 Td (RMB\222000)Tj ET 0.5 w q 1 0 0 1 323.1496 414.9591 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0468 416.3601 Tm ( )Tj ET q 1 0 0 1 436.5354 414.9591 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 416.3601 Tm ( )Tj 0.025 Tc -34.338 -2.462 Td (Cash and bank balances)Tj /T1_1 1 Tf -0.025 Tw 21.966 0 Td (1,501,406)Tj /T1_0 1 Tf 8.722 0 Td (1,842,570)Tj 0 Tw -30.688 -1.231 Td (Less: restricted cash \(Note\))Tj /T1_1 1 Tf -0.025 Tw 22.908 0 Td (\(11,335\))Tj /T1_0 1 Tf 8.722 0 Td (\(11,335\))Tj ET q 1 0 0 1 323.1496 363.95 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0468 365.351 Tm ( )Tj ET q 1 0 0 1 436.5354 363.95 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 365.351 Tm ( )Tj 0.025 Tc -34.338 -2.462 Td (Cash and cash equivalents)Tj /T1_1 1 Tf -0.025 Tw 21.966 0 Td (1,490,071)Tj /T1_0 1 Tf 8.722 0 Td (1,831,235)Tj 0 Tw -30.688 -1.231 Td (Cash and bank balances )Tj 0 Tc ( )Tj 0.025 Tc 1.003 -1.231 Td (denominated in:)Tj 0.174 -1.231 Td (\226 RMB)Tj /T1_1 1 Tf -0.025 Tw 20.788 0 Td (1,495,584)Tj /T1_0 1 Tf 8.722 0 Td (1,832,658)Tj 0 Tw -29.51 -1.231 Td (\226 Hong Kong dollars)Tj /T1_1 1 Tf -0.025 Tw 22.638 0 Td (2,921)Tj /T1_0 1 Tf 8.722 0 Td (3,690)Tj 0 Tw -31.36 -1.231 Td (\226 Indian rupees)Tj /T1_1 1 Tf -0.025 Tw 22.638 0 Td (2,901)Tj /T1_0 1 Tf 8.722 0 Td (6,222)Tj ET q 1 0 0 1 323.1496 248.941 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0468 250.342 Tm ( )Tj ET q 1 0 0 1 436.5354 248.941 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 250.342 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -12.372 -2.462 Td (1,501,406)Tj /T1_0 1 Tf 8.722 0 Td (1,842,570)Tj ET 2.5 w q 1 0 0 1 323.1496 212.7775 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1496 209.4449 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0468 210.6784 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.5355 212.7775 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 436.5354 209.4449 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 210.6784 Tm ( )Tj 0.025 Tc -0.025 Tw 11 0 2.9474 11 83.9105 187.3294 Tm (Note:)Tj 0.045 Tw 11 0 0 11 110.856 187.3294 Tm [( )90 (Restricted )0.5 (cash )0.5 (mainly represented deposits )0.5 (held for )0.5 (issued )0.5 (bills payable )0.5 (and )0.5 (performance )]TJ 0.064 Tc 0.07 Tw 0.23 -1.273 Td [(obligations)12.3 ( for)12.3 ( engineering)12.3 ( services,)12.3 ( property)12.3 ( maintenance)12.3 ( and)12.3 ( frozen)12.3 ( deposits)12.3 ( for)39 ( )]TJ 0.025 Tc 0 Tw 0 -1.273 Td (construction contract disputes.)Tj ET endstreamendobj154 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 27 \226)Tj /T1_1 1 Tf 0.021 Tc 13 0 0 13 56.6929 776.0055 Tm [(1)-4 (1)-4 (.)-4 ( )-584.5 (TRADE, BILLS RECEIVABLES AND CONTRACT ASSETS \(CONTINUED\))]TJ /T1_0 1 Tf 0.025 Tc 2.181 -2.462 Td (The Group\222s trading terms with its customers are mainly on credit, ex\cept for new )Tj 0.028 Tc 0.08 Tw 0 -1.231 Td [(customers,)3 ( )0.5 (where)3 ( )0.5 (payment)3 ( )0.5 (in)3 ( )0.5 (advance)3 ( )0.5 (is)3 ( )0.5 (normally)3 ( )0.5 (required.)3 ( )0.5 (The)3.1 ( )0.5 (credit)3 ( )0.5 (period)3 ( )0.5 (is)3 ( )]TJ 0.025 Tc 0.021 Tw 0 -1.231 Td [(generally )0.5 (within )0.5 (one )0.5 (year. )0.5 (Each customer )0.5 (has )0.5 (a maximum )0.5 (credit limit. )0.5 (The Group )]TJ 0.051 Tc 0.07 Tw 0 -1.231 Td [(seeks)12.5 ( to)12.5 ( maintain)12.6 ( strict)12.6 ( control)12.6 ( over)12.5 ( the)12.6 ( outstanding)12.6 ( receivables)12.6 ( to)12.5 ( minimise)26 ( )]TJ 0.054 Tc 0 -1.231 Td [(c)0.5 (r)0.5 (ed)0.5 (i)0.5 (t)13 ( r)0.5 (i)0.5 (sk)0.5 (.)13 ( )0.5 (Ov)0.5 (e)0.5 (r)0.5 (du)0.5 (e)13 ( )0.5 (ba)0.5 (l)0.5 (a)0.5 (nc)0.5 (e)0.5 (s)13 ( )0.5 (a)0.5 (re)13 ( )0.5 (r)0.5 (ev)0.5 (i)0.5 (e)0.5 (we)0.5 (d)13 ( )0.5 (r)0.5 (eg)0.5 (u)0.5 (la)0.5 (r)0.5 (l)0.5 (y)12.9 ( )0.5 (b)0.5 (y)13 ( s)0.5 (e)0.5 (n)0.5 (io)0.5 (r)13 ( m)0.5 (a)0.5 (n)0.5 (ag)0.5 (e)0.5 (m)0.5 (e)0.5 (nt)0.5 (.)29 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Trade receivables are non-interest-bearing.)Tj 0.011 Tw 0 -2.462 Td (An ageing analysis of the trade and bills receivables, based on the invo\ice date, at )Tj 0 Tw 0 -1.231 Td (the end of the reporting period is as follows:)Tj /T1_1 1 Tf 22.71 -2.462 Td (30 June)Tj -0.025 Tw 1.381 -1.231 Td (2026)Tj /T1_0 1 Tf 0 Tw 5.188 1.231 Td (31 December)Tj -0.025 Tw 3.534 -1.231 Td (2025)Tj /T1_1 1 Tf -11.348 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 10.051 0 Td (Audited)Tj /T1_1 1 Tf 13 0 3.4833 13 367.7554 536.0055 Tm (RMB\222000)Tj /T1_0 1 Tf 8.832 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 323.1497 531.5955 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0469 532.9965 Tm ( )Tj ET q 1 0 0 1 436.5355 531.5955 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 532.9965 Tm ( )Tj 0.025 Tc -34.338 -2.462 Td (Within 1 year)Tj /T1_1 1 Tf -0.025 Tw 21.966 0 Td (3,635,738)Tj /T1_0 1 Tf 8.722 0 Td (3,714,446)Tj 0 Tw -30.688 -1.231 Td (Between 1 and 2 years)Tj /T1_1 1 Tf -0.025 Tw 22.766 -0 Td (576,391)Tj /T1_0 1 Tf 8.722 0 Td (532,935)Tj 0 Tw -31.488 -1.231 Td (Between 2 and 3 years)Tj /T1_1 1 Tf -0.025 Tw 22.766 0 Td (224,683)Tj /T1_0 1 Tf 8.722 -0 Td (266,223)Tj 0 Tw -31.488 -1.231 Td (Over 3 years)Tj /T1_1 1 Tf -0.025 Tw 22.766 0 Td (972,009)Tj /T1_0 1 Tf 7.922 0 Td (1,272,042)Tj ET q 1 0 0 1 323.1497 448.586 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0469 449.987 Tm ( )Tj ET q 1 0 0 1 436.5355 448.586 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 449.987 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -12.372 -2.462 Td (5,408,821)Tj /T1_0 1 Tf 8.722 0 Td (5,785,646)Tj 0 Tw -30.688 -1.231 Td (Less: provision for impairment)Tj /T1_1 1 Tf -0.025 Tw 22.383 0 Td (\(361,778\))Tj /T1_0 1 Tf 8.722 0 Td (\(397,888\))Tj ET q 1 0 0 1 323.1497 397.577 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0469 398.978 Tm ( )Tj ET q 1 0 0 1 436.5355 397.577 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 398.978 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -12.372 -2.462 Td (5,047,043)Tj /T1_0 1 Tf 8.722 0 Td (5,387,758)Tj ET 2.5 w q 1 0 0 1 323.1497 361.4134 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1497 358.0809 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0469 359.3144 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.5355 361.4134 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 436.5355 358.0809 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 359.3144 Tm ( )Tj 0.06 Tc 0.07 Tw -34.338 -2.335 Td [(Contract)12.3 ( assets)12.3 ( are)12.3 ( initially)12.3 ( recognised)12.3 ( for)12.3 ( revenue)12.3 ( earned)12.3 ( from)12.3 ( the)12.3 ( sale)12.3 ( of)35 ( )]TJ 0.057 Tc 0.069 Tw 0 -1.231 Td [(i)0.5 (n)0.5 (d)0.6 (u)0.5 (s)0.5 (t)0.5 (r)0.6 (i)0.5 (a)0.5 (l)13.1 ( p)0.5 (r)0.5 (o)0.6 (d)0.5 (u)0.5 (c)0.5 (t)0.6 (s)13 ( a)0.5 (n)0.6 (d)13 ( c)0.5 (o)0.6 (n)0.5 (s)0.5 (t)0.5 (r)0.6 (u)0.5 (c)0.6 (t)0.5 (i)0.5 (o)0.5 (n)13 ( s)0.5 (e)0.5 (r)0.6 (v)0.5 (i)0.5 (c)0.5 (e)0.6 (s)13 ( a)0.6 (s)13 ( t)0.5 (h)0.6 (e)13 ( r)0.6 (e)0.5 (c)0.5 (e)0.6 (i)0.5 (p)0.5 (t)13 ( o)0.5 (f)13 ( c)0.6 (o)0.5 (n)0.5 (s)0.6 (i)0.5 (d)0.5 (e)0.5 (r)0.6 (a)0.5 (t)0.5 (i)0.5 (o)0.6 (n)32 ( )]TJ 0.051 Tc 0.07 Tw 0 -1.231 Td [(is)12.7 ( conditional)12.7 ( on)12.7 ( successful)12.7 ( completion)12.6 ( of)12.7 ( construction.)12.7 ( Upon)12.7 ( completion)12.7 ( of)26 ( )]TJ 0.025 Tc 0.053 Tw 0 -1.231 Td (construction and acceptance by the customer, the amounts recognised as c\ontract )Tj 0 Tw 0 -1.231 Td (assets are reclassified to trade receivables.)Tj ET endstreamendobj153 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 26 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(10. )-580.5 (PROPERTY, PLANT AND EQUIPMENT)]TJ 2.181 -2.462 Td (Acquisitions and disposals)Tj /T1_0 1 Tf 0.015 Tw 0 -2.462 Td (During the six months ended 30 June 2026, the Group acquired items of pr\operty, )Tj 0.036 Tw 0 -1.231 Td [(plant and )0.5 (equipment )0.5 (with a cost of RMB18,020,000 \(for the )0.5 (six months ended 30 )]TJ 0 Tw 0 -1.231 Td (June 2025: RMB5,708,000\).)Tj 0.004 Tw 0 -2.462 Td (Items of property, plant and equipment with book values of RMB44,430,000\ were )Tj 0.024 Tc 0 Tw 0 -1.231 Td [(disposed of by the Group during the six months ended 30 June 2026, resul\ting in a)-1 ( )]TJ 0.025 Tc 0.02 Tw 0 -1.231 Td (gain on disposal of RMB8,222,000 and a loss on disposal of RMB621,000, w\hich )Tj 0.01 Tw 0 -1.231 Td (were included in \223other income and losses\224 in the interim condense\d consolidated )Tj 0.032 Tc 0.076 Tw 0 -1.231 Td [(statement)7 ( )0.5 (of)7.1 ( profit)7 ( )0.5 (or)7 ( )0.5 (loss)7 ( )0.5 (and)7 ( )0.5 (other)7 ( )0.5 (comprehensive)7.1 ( )0.5 (income)7 ( )0.5 (\(for)7 ( )0.5 (the)7 ( )0.5 (six)7 ( )0.5 (months)7 ( )]TJ 0.025 Tc 0.03 Tw 0 -1.231 Td [(ended 30 June 2025: items of property, plant and equipment with )0.5 (a book value of )]TJ 0.061 Tw 0 -1.231 Td (RMB2,044,000 were disposed of by the Group, resulting in a loss on dispo\sal of )Tj -0.025 Tw 0 -1.231 Td (RMB350,000\).)Tj /T1_1 1 Tf 0 Tw -2.181 -3.692 Td [(11. )-580.5 (TRADE, BILLS RECEIVABLES AND CONTRACT ASSETS)]TJ 24.89 -2.462 Td (30 June)Tj -0.025 Tw 1.381 -1.231 Td (2026)Tj /T1_0 1 Tf 0 Tw 5.188 1.231 Td (31 December)Tj -0.025 Tw 3.534 -1.231 Td (2025)Tj /T1_1 1 Tf -11.348 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 10.051 0 Td (Audited)Tj /T1_1 1 Tf 13 0 3.4833 13 367.7554 408.409 Tm (RMB\222000)Tj /T1_0 1 Tf 8.832 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 323.1497 403.9989 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0469 405.3999 Tm ( )Tj ET q 1 0 0 1 436.5355 403.9989 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 405.3999 Tm ( )Tj 0.025 Tc -34.338 -2.462 Td (Trade receivables)Tj /T1_1 1 Tf -0.025 Tw 21.966 0 Td (4,833,672)Tj /T1_0 1 Tf 8.722 0 Td (5,197,320)Tj 0 Tw -30.688 -1.231 Td (Less: provision for impairment)Tj /T1_1 1 Tf -0.025 Tw 22.383 0 Td (\(361,778\))Tj /T1_0 1 Tf 8.722 0 Td (\(397,888\))Tj ET q 1 0 0 1 323.1497 352.9898 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0469 354.3908 Tm ( )Tj ET q 1 0 0 1 436.5355 352.9898 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 354.3908 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -12.372 -2.462 Td (4,471,894)Tj /T1_0 1 Tf 8.722 0 Td (4,799,432)Tj ET q 1 0 0 1 323.1497 317.9808 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0469 319.3818 Tm ( )Tj ET q 1 0 0 1 436.5355 317.9808 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 319.3818 Tm ( )Tj 0.025 Tc -34.338 -2.462 Td (Bills receivable)Tj /T1_1 1 Tf -0.025 Tw 22.766 0 Td (575,149)Tj /T1_0 1 Tf 8.722 0 Td (588,326)Tj ET q 1 0 0 1 323.1497 282.9717 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 418.0469 284.3727 Tm ( )Tj ET q 1 0 0 1 436.5355 282.9717 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 284.3727 Tm ( )Tj 0.025 Tc -34.338 -2.462 Td (Contract assets arising from:)Tj 0.654 -1.231 Td (Construction services)Tj /T1_1 1 Tf -0.025 Tw 22.112 0 Td (421,380)Tj /T1_0 1 Tf 8.722 0 Td (405,711)Tj 0 Tw -30.834 -1.231 Td (Sale of industrial products)Tj /T1_1 1 Tf -0.025 Tw 22.637 0 Td 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respectively.)Tj 0.034 Tc 0.074 Tw 0 -2.462 Td [(The)9.1 ( )0.5 (Company)9 ( )0.5 (did)9 ( )0.5 (not)9 ( )0.5 (have)9 ( )0.5 (any)9 ( )0.5 (potential)9 ( )0.5 (dilutive)9 ( )0.5 (shares)9 ( )0.5 (in)9 ( )0.5 (issue)9 ( )0.5 (during)9 ( )0.5 (the)9 ( )0.5 (six)9 ( )]TJ 0.025 Tc 0.005 Tw 0 -1.231 Td [(months )0.5 (ended 30 )0.5 (June )0.5 (2026 and )0.5 (2025. )0.5 (Accordingly, )0.5 (the )0.5 (diluted )0.5 (earnings per )0.5 (share )]TJ 0 Tw 0 -1.231 Td (amounts are the same as the basic earnings per share amounts.)Tj 0 -2.462 Td (The calculations of basic and diluted earnings per share are based on:)Tj /T1_1 1 Tf 11.7 0 0 13 328.3062 552.4089 Tm (For the six months ended 30 June)Tj -0.025 Tw -20.792 -1.231 Td (Earnings)Tj 25.787 0 Td (2026)Tj /T1_0 1 Tf 10.902 0 Td (2025)Tj /T1_1 1 Tf -13.528 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 11.237 0 Td (Unaudited)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 294.8031 515.9989 cm 0 0 m 116.22 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 11.7 0 0 13 404.5886 517.3999 Tm ( )Tj ET q 1 0 0 1 422.3622 515.9989 cm 0 0 m 116.22 0 l S Q BT /T1_0 1 Tf 11.7 0 0 13 532.1477 517.3999 Tm ( )Tj 0.025 Tc -38.214 -2.462 Td (Profit attributable to ordinary equity )Tj 0.727 -1.231 Td (holders of the parent, used in the basic/)Tj 0 -1.231 Td (diluted earnings per share calculation )Tj -0.025 Tw 11.7 0 3.4833 13 93.5434 437.3998 Tm (\(RMB\222000\))Tj /T1_1 1 Tf 11.7 0 0 13 371.2437 437.3998 Tm (286,280)Tj /T1_0 1 Tf 10.902 0 Td (283,696)Tj ET 2.5 w q 1 0 0 1 294.8032 431.8351 cm 0 0 m 116.22 0 l S Q 0.835 w q 1 0 0 1 294.8032 428.5027 cm 0 0 m 116.22 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 11.7 0 0 13 404.5887 429.7361 Tm ( )Tj ET 2.5 w q 1 0 0 1 422.3622 431.8351 cm 0 0 m 116.22 0 l S Q 0.835 w q 1 0 0 1 422.3622 428.5027 cm 0 0 m 116.22 0 l S Q BT /T1_0 1 Tf 11.7 0 0 13 532.1478 429.7361 Tm ( )Tj 0.025 Tc -0.025 Tw -38.214 -2.462 Td (Shares)Tj 0 Tw 0 -1.231 Td (Weighted average number of ordinary )Tj 0.727 -1.231 Td (shares in issue during the period, used )Tj 0 -1.231 Td (in the basic/diluted earnings per share )Tj -0.025 Tw 0 -1.231 Td (calculation )Tj 0 Tw 11.7 0 3.4833 13 149.9831 333.7361 Tm (\(number of shares\))Tj /T1_1 1 Tf -0.025 Tw 11.7 0 0 13 340.2389 333.7361 Tm (2,967,542,000)Tj /T1_0 1 Tf 10.902 0 Td (2,967,542,000)Tj ET 2.5 w q 1 0 0 1 294.8033 328.1715 cm 0 0 m 116.22 0 l S Q 0.835 w q 1 0 0 1 294.8033 324.8391 cm 0 0 m 116.22 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 11.7 0 0 13 404.5887 326.0725 Tm ( )Tj ET 2.5 w q 1 0 0 1 422.3623 328.1715 cm 0 0 m 116.22 0 l S Q 0.835 w q 1 0 0 1 422.3623 324.8391 cm 0 0 m 116.22 0 l S Q BT /T1_0 1 Tf 11.7 0 0 13 532.1478 326.0725 Tm ( )Tj 0.025 Tc -38.214 -2.462 Td (Earnings per share)Tj 0 -1.231 Td (Basic/diluted earnings per share)Tj /T1_1 1 Tf -0.025 Tw 23.629 0 Td (RMB0.10)Tj /T1_0 1 Tf 11.012 0 Td (RMB0.10)Tj ET 2.5 w q 1 0 0 1 294.8033 272.508 cm 0 0 m 116.22 0 l S Q 0.835 w q 1 0 0 1 294.8033 269.1755 cm 0 0 m 116.22 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 11.7 0 0 13 404.5888 270.409 Tm ( )Tj ET 2.5 w q 1 0 0 1 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As at 30 June 2026, the final di\vidend )Tj 0 Tw 0 -1.231 Td (has not been paid to the shareholders of the Company.)Tj 0.059 Tw 0 -2.462 Td (The Board did not recommend any interim dividend for the six months ende\d 30 )Tj 0 Tw 0 -1.231 Td (June 2026.)Tj 0.028 Tc -0.028 Tw 0 -2.462 Td [(O)-12 (n)0.5 ( )]TJ 0.04 Tc 0.07 Tw 1.649 0 Td [(2)12.5 (8)12.5 ( March)]TJ 4.212 0 Td [( 2)12.5 (0)12.5 (2)12.5 (5)12.5 (,)12.5 ( the)12.5 ( Board)12.5 ( proposed)12.5 ( to)12.5 ( distribute)12.5 ( the)12.5 ( final)12.5 ( dividend)12.5 ( for)12.5 ( the)15.1 ( )]TJ 0.048 Tc -5.862 -1.231 Td [(y)0.6 (e)0.5 (a)0.6 (r)13.1 ( )0.5 (e)0.6 (n)0.6 (d)0.5 (e)0.6 (d)13 ( )0.6 (3)13.1 (1)13 ( )0.6 (D)0.6 (e)0.5 (c)0.6 (e)0.6 (m)0.5 (b)0.6 (e)0.6 (r)13 ( )0.6 (2)13.1 (0)13 (2)13.1 (4)13 ( )0.6 (o)0.5 (f)13.1 ( )0.6 (R)0.5 (M)0.6 (B)13.1 (0)13 (.)13.1 (0)13 (5)13.1 (1)13 ( )0.6 (p)0.6 (e)0.6 (r)13 ( )0.6 (s)0.5 (h)0.6 (a)0.6 (r)0.5 (e)13.1 ( )0.6 (\()0.5 (b)0.6 (e)0.6 (f)0.5 (o)0.6 (r)0.6 (e)13 ( )0.6 (t)0.5 (a)0.6 (x)0.6 (\))13 ( )0.6 (a)0.6 (m)0.5 (o)0.6 (u)0.5 (n)0.6 (t)0.6 (e)0.5 (d)23 ( )]TJ 0.055 Tc 0 -1.231 Td [(to)12.7 ( RMB)12.6 (1)12.7 (5)12.6 (1)12.6 (,)12.6 (3)12.7 (4)12.6 (4)12.6 (,)12.7 (6)12.6 (4)12.6 (2)12.7 ( in)12.6 ( cash)12.6 ( to)12.6 ( the)12.7 ( shareholders)12.7 ( of)12.7 ( the)12.6 ( Company,)12.7 ( which)12.7 ( was)30 ( )]TJ 0.025 Tc 0.021 Tw 0 -1.231 Td (approved by the shareholders of the Company at the 2024 annual general m\eeting )Tj 0.052 Tw 0 -1.231 Td (on 27 June 2025. As at 30 June 2025, the final dividend has not been pai\d to the )Tj 0 Tw 0 -1.231 Td (shareholders of the Company.)Tj ET endstreamendobj176 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 23 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(6. )-1105.5 (FINANCE COSTS)]TJ /T1_0 1 Tf 2.181 -2.462 Td (An analysis of finance costs is as follows:)Tj /T1_1 1 Tf 11.7 0 0 13 342.4794 712.4089 Tm (For the six months ended 30 June)Tj -0.025 Tw 4.995 -1.231 Td (2026)Tj /T1_0 1 Tf 9.691 0 Td (2025)Tj /T1_1 1 Tf -12.317 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 10.026 0 Td (Unaudited)Tj /T1_1 1 Tf 11.7 0 3.4833 13 373.366 664.4089 Tm (RMB\222000)Tj /T1_0 1 Tf 9.801 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 323.1495 659.9989 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 11.7 0 0 13 418.7618 661.3999 Tm ( )Tj ET q 1 0 0 1 436.5354 659.9989 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 11.7 0 0 13 532.1476 661.3999 Tm ( )Tj 0.025 Tc -38.214 -2.462 Td (Interest on lease liabilities)Tj /T1_1 1 Tf -0.025 Tw 26.723 0 Td (3,418)Tj /T1_0 1 Tf 9.691 0 Td (3,873)Tj 0 Tw -36.414 -1.231 Td (Interest expenses on bank borrowings and )Tj 0 Tc 11.7 0 0 13 296.5377 613.3999 Tm ( )Tj 0.025 Tc 11.7 0 0 13 93.5432 597.3999 Tm (other loans)Tj /T1_1 1 Tf -0.025 Tw 25.471 0 Td (27,693)Tj /T1_0 1 Tf 9.691 0 Td (41,617)Tj 0 Tw -35.889 -1.231 Td (Less: interest capitalised)Tj /T1_1 1 Tf -0.025 Tw 28.19 0 Td (\(5\))Tj /T1_0 1 Tf 0 Tc 0 Tw 10.074 0 Td (\226)Tj ET q 1 0 0 1 323.1495 576.9898 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 11.7 0 0 13 418.7618 578.3908 Tm ( )Tj ET q 1 0 0 1 436.5353 576.9898 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 11.7 0 0 13 532.1476 578.3908 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -12.016 -2.462 Td (31,106)Tj /T1_0 1 Tf 9.691 0 Td (45,490)Tj ET 2.5 w q 1 0 0 1 323.1495 540.8263 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1495 537.4938 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 11.7 0 0 13 418.7618 538.7273 Tm ( )Tj ET 2.5 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(976)Tj ET q 1 0 0 1 323.1494 292.9592 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 11.7 0 0 13 418.7617 294.3602 Tm ( )Tj ET q 1 0 0 1 436.5353 292.9592 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 11.7 0 0 13 532.1476 294.3602 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -12.016 -2.462 Td (55,216)Tj /T1_0 1 Tf 9.691 0 Td (56,643)Tj ET 2.5 w q 1 0 0 1 323.1495 256.7957 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 323.1494 253.4632 cm 0 0 m 102.047 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 11.7 0 0 13 418.7617 254.6966 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.5353 256.7957 cm 0 0 m 102.047 0 l S Q 0.835 w q 1 0 0 1 436.5353 253.4632 cm 0 0 m 102.047 0 l S Q BT /T1_0 1 Tf 11.7 0 0 13 532.1476 254.6966 Tm ( )Tj ET endstreamendobj175 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 22 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(5. )-1105.5 (OTHER INCOME AND LOSSES)]TJ 10.4 0 0 13 363.6387 744.4089 Tm (For the six months ended 30 June)Tj -0.025 Tw 4.934 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Td (46,084)Tj /T1_0 1 Tf 9.812 0 Td (73,986)Tj ET 2.5 w q 1 0 0 1 345.8269 355.7991 cm 0 0 m 90.709 0 l S Q 0.835 w q 1 0 0 1 345.8269 352.4666 cm 0 0 m 90.709 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10.4 0 0 13 430.8156 353.7001 Tm ( )Tj ET 2.5 w q 1 0 0 1 447.8741 355.7991 cm 0 0 m 90.709 0 l S Q 0.835 w q 1 0 0 1 447.8741 352.4666 cm 0 0 m 90.709 0 l S Q BT /T1_0 1 Tf 10.4 0 0 13 532.8628 353.7001 Tm ( )Tj ET endstreamendobj174 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 21 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.0055 Tm [(4. )-1105.5 (REVENUE \(CONTINUED\))]TJ /T1_0 1 Tf 0.077 Tw 2.181 -2.462 Td [(Set )0.5 (out )0.5 (below )0.5 (is the )0.5 (reconciliation )0.5 (of )0.5 (the )0.5 (revenue from )0.5 (contracts )0.5 (with customers )]TJ 0 Tw 0 -1.231 Td (with the amounts disclosed in the segment information:\(continued\))Tj 9.1 0 0 13 282.2798 696.0055 Tm (For the six months ended 30 June 2025 \(unaudited\))Tj -21.675 -6.154 Td 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0 13 466.2358 513.9874 Tm ( )Tj ET q 1 0 0 1 484.7244 512.5864 cm 0 0 m 53.858 0 l S Q BT 13 0 0 13 531.4326 513.9874 Tm ( )Tj 0.025 Tc -0.025 Tw 9.1 0 0 13 239.5752 481.9874 Tm (2,349,854)Tj 8.489 0 Td (44,109)Tj 0 Tc 0 Tw 9.539 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.79 0 Td (39,417)Tj 5.839 0 Td (2,433,380)Tj ET q 1 0 0 1 223.937 477.5773 cm 0 0 m 53.858 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 218.2677 478.9783 Tm ( )Tj ET q 1 0 0 1 289.1338 477.5773 cm 0 0 m 53.858 0 l S Q BT 13 0 0 13 283.4645 478.9783 Tm ( )Tj ET q 1 0 0 1 354.3307 477.5773 cm 0 0 m 53.858 0 l S Q BT 13 0 0 13 348.6614 478.9783 Tm ( )Tj ET q 1 0 0 1 419.5275 477.5773 cm 0 0 m 53.858 0 l S Q BT 13 0 0 13 413.8582 478.9783 Tm ( )Tj ET q 1 0 0 1 484.7244 477.5773 cm 0 0 m 53.858 0 l S Q BT 13 0 0 13 479.0551 478.9783 Tm ( )Tj 0.025 Tc 9.1 0 0 13 85.0393 446.9783 Tm (Inter-segment adjustments and )Tj -0.025 Tw 0.997 -1.231 Td (eliminations)Tj 0 Tc 0 Tw 19.685 0 Td (\226)Tj 7.164 0 Td (\226)Tj 7.164 0 Td (\226)Tj 0.025 Tc -0.025 Tw 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2.462 Td (Thermal)Tj 1.106 -1.231 Td (power)Tj -2.484 -1.231 Td (engineering)Tj 8.764 2.462 Td (Resource)Tj 0.03 -1.231 Td (recycling)Tj -0.527 -1.231 Td (businesses)Tj 9.592 1.231 Td (Other)Tj -1.96 -1.231 Td (businesses)Tj 9.869 0 Td (Total)Tj 7.8 0 3.4833 13 205.9464 600.0055 Tm (RMB\222000)Tj 7.632 0 Td (RMB\222000)Tj 7.632 0 Td (RMB\222000)Tj 7.632 0 Td (RMB\222000)Tj 7.632 0 Td (RMB\222000)Tj 7.632 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 184.252 595.5955 cm 0 0 m 56.693 0 l S Q BT 0 Tc 0 Tw 7.8 0 0 13 236.6549 596.9965 Tm ( )Tj ET q 1 0 0 1 252.2835 595.5955 cm 0 0 m 48.189 0 l S Q BT /T1_0 1 Tf 7.8 0 0 13 296.1824 596.9965 Tm ( )Tj ET q 1 0 0 1 311.811 595.5955 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 355.71 596.9965 Tm ( )Tj ET q 1 0 0 1 371.3386 595.5955 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 415.2375 596.9965 Tm ( )Tj ET q 1 0 0 1 430.8661 595.5955 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 474.7651 596.9965 Tm ( )Tj ET q 1 0 0 1 490.3937 595.5955 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 534.2927 596.9965 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -57.597 -2.462 Td (Revenue from contracts )Tj 1.09 -1.231 Td (with customers)Tj /T1_0 1 Tf -1.09 -1.231 Td (External customers)Tj /T1_1 1 Tf -0.025 Tw 15.788 0 Td (2,201,271)Tj 9.482 0 Td (3,074 )Tj 0 Tc 0 Tw 9.482 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.257 0 Td (42,699 )Tj 7.632 0 Td (12,330 )Tj 6.307 0 Td (2,259,374)Tj /T1_0 1 Tf 0 Tw -53.947 -1.231 Td (Inter-segment sales)Tj /T1_1 1 Tf 0 Tc 19.488 0 Td (\226)Tj 7.632 0 Td (\226)Tj 7.632 0 Td (\226)Tj 7.632 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.257 0 Td (19,335)Tj 7.632 0 Td (19,335)Tj ET q 1 0 0 1 184.2521 512.5864 cm 0 0 m 56.693 0 l S Q BT 0 Tc 0 Tw 7.8 0 0 13 236.655 513.9874 Tm ( )Tj ET q 1 0 0 1 252.2836 512.5864 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 296.1825 513.9874 Tm ( )Tj ET q 1 0 0 1 311.8111 512.5864 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 355.7101 513.9874 Tm ( )Tj ET q 1 0 0 1 371.3387 512.5864 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 415.2376 513.9874 Tm ( )Tj ET q 1 0 0 1 430.8662 512.5864 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 474.7652 513.9874 Tm ( )Tj ET q 1 0 0 1 490.3938 512.5864 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 534.2928 513.9874 Tm ( )Tj 0.025 Tc -0.025 Tw -41.809 -2.462 Td (2,201,271)Tj 9.482 0 Td (3,074)Tj 0 Tc 0 Tw 9.482 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.257 0 Td (42,699)Tj 7.632 0 Td (31,665)Tj 6.307 0 Td (2,278,709)Tj ET q 1 0 0 1 184.2522 477.5773 cm 0 0 m 56.693 0 l S Q BT 0 Tc 0 Tw 7.8 0 0 13 236.6551 478.9783 Tm ( )Tj ET q 1 0 0 1 252.2837 477.5773 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 296.1826 478.9783 Tm ( )Tj ET q 1 0 0 1 311.8112 477.5773 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 355.7102 478.9783 Tm ( )Tj ET q 1 0 0 1 371.3388 477.5773 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 415.2378 478.9783 Tm ( )Tj ET q 1 0 0 1 430.8663 477.5773 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 474.7653 478.9783 Tm ( )Tj ET q 1 0 0 1 490.3939 477.5773 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 534.2929 478.9783 Tm ( )Tj /T1_0 1 Tf 0.025 Tc -57.597 -2.462 Td (Inter-segment adjustments )Tj 1.018 -1.231 Td (and eliminations)Tj /T1_1 1 Tf 0 Tc 18.47 0 Td (\226)Tj 7.632 0 Td (\226)Tj 7.632 0 Td (\226)Tj 7.632 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.874 0 Td (\(19,335\))Tj 7.632 0 Td (\(19,335\))Tj ET q 1 0 0 1 184.2523 426.5683 cm 0 0 m 56.693 0 l S Q BT 0 Tc 0 Tw 7.8 0 0 13 236.6552 427.9692 Tm ( )Tj ET q 1 0 0 1 252.2838 426.5683 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 296.1828 427.9692 Tm ( )Tj ET q 1 0 0 1 311.8114 426.5683 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 355.7104 427.9692 Tm ( )Tj ET q 1 0 0 1 371.3389 426.5683 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 415.2379 427.9692 Tm ( )Tj ET q 1 0 0 1 430.8665 426.5683 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 474.7655 427.9692 Tm ( )Tj ET q 1 0 0 1 490.394 426.5683 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 534.293 427.9692 Tm ( )Tj 0.025 Tc -57.597 -2.462 Td (Total revenue from )Tj 0.763 -1.231 Td [(contracts with )0.5 (customers)]TJ -0.025 Tw 15.025 0 Td (2,201,271)Tj 9.482 0 Td (3,074)Tj 0 Tc 0 Tw 9.482 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.257 0 Td (42,699)Tj 7.632 0 Td (12,330)Tj 6.307 0 Td (2,259,374)Tj ET 2.5 w q 1 0 0 1 184.2524 374.4047 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 184.2524 371.0722 cm 0 0 m 56.693 0 l S Q BT /T1_0 1 Tf 0 Tc 0 Tw 7.8 0 0 13 236.6553 372.3057 Tm ( )Tj ET 2.5 w q 1 0 0 1 252.2839 374.4047 cm 0 0 m 48.189 0 l S Q 0.835 w q 1 0 0 1 252.2839 371.0722 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 296.1829 372.3057 Tm ( )Tj ET 2.5 w q 1 0 0 1 311.8115 374.4047 cm 0 0 m 48.189 0 l S Q 0.835 w q 1 0 0 1 311.8115 371.0722 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 355.7104 372.3057 Tm ( )Tj ET 2.5 w q 1 0 0 1 371.339 374.4047 cm 0 0 m 48.189 0 l S Q 0.835 w q 1 0 0 1 371.339 371.0722 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 415.238 372.3057 Tm ( )Tj ET 2.5 w q 1 0 0 1 430.8666 374.4047 cm 0 0 m 48.189 0 l S Q 0.835 w q 1 0 0 1 430.8666 371.0722 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 474.7656 372.3057 Tm ( )Tj ET 2.5 w q 1 0 0 1 490.3941 374.4047 cm 0 0 m 48.189 0 l S Q 0.835 w q 1 0 0 1 490.3941 371.0722 cm 0 0 m 48.189 0 l S Q BT 7.8 0 0 13 534.2932 372.3057 Tm ( )Tj ET endstreamendobj182 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 19 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 776.0055 Tm [(4. )-1105.5 (REVENUE \(CONTINUED\))]TJ /T1_0 1 Tf 0.037 Tc 0.071 Tw 2.181 -2.077 Td [(Disaggregated)12 ( )0.5 (revenue)12.1 ( )0.5 (information)12 ( )0.5 (for)12 ( )0.5 (revenue)12 ( )0.5 (from)12 ( )0.5 (contracts)12 ( )0.5 (with)12 ( )0.5 (customers:)11.9 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (\(continued\))Tj 0 Tw 9.1 0 0 13 275.1932 695.6405 Tm (For the six months ended 30 June 2025 \(unaudited\))Tj -20.896 -6.154 Td (Operating segments)Tj -0.025 Tw 13.692 4.923 Td (Environmental)Tj 1.964 -1.231 Td (protection)Tj 0 Tw -0.36 -1.231 Td (and energy)Tj -0.025 Tw -0.745 -1.231 Td (conservation)Tj 1.573 -1.231 Td (solutions)Tj 6.645 2.462 Td (Renewable)Tj 1.797 -1.231 Td (energy)Tj -2.125 -1.231 Td (engineering)Tj 8.909 2.462 Td (Thermal)Tj 0.939 -1.231 Td (power)Tj -2.372 -1.231 Td (engineering)Tj 10.07 1.231 Td (Other)Tj -2.07 -1.231 Td (businesses)Tj 9.712 0 Td (Total)Tj 9.1 0 3.4833 13 226.8482 599.6405 Tm (RMB\222000)Tj 7.476 0 Td (RMB\222000)Tj 7.476 0 Td (RMB\222000)Tj 7.476 0 Td (RMB\222000)Tj 7.476 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 209.7638 595.2305 cm 0 0 m 56.693 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 9.1 0 0 13 204.0945 596.6315 Tm ( )Tj ET q 1 0 0 1 277.7953 595.2305 cm 0 0 m 56.693 0 l S Q BT /T1_0 1 Tf 9.1 0 0 13 272.126 596.6315 Tm ( )Tj ET q 1 0 0 1 345.8268 595.2305 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 340.1575 596.6315 Tm ( )Tj ET q 1 0 0 1 413.8582 595.2305 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 408.189 596.6315 Tm ( )Tj ET q 1 0 0 1 481.8897 595.2305 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 476.2205 596.6315 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -42.987 -2.462 Td (Types of goods or service)Tj /T1_0 1 Tf 0 -1.231 Td (Sale of industrial products)Tj -0.025 Tw 16.536 0 Td (250,367)Tj 0 Tc 0 Tw 10.376 0 Td (\226)Tj 7.476 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.101 0 Td (13,884)Tj 6.951 0 Td (264,251)Tj 0 Tw -46.44 -1.231 Td (Construction services)Tj -0.025 Tw 16.536 0 Td (128,427)Tj 8.001 0 Td (44,109)Tj 0 Tc 0 Tw 9.851 0 Td (\226)Tj 7.476 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.576 0 Td (172,536)Tj 0 Tw -46.44 -1.231 Td (Desulfurisation and )Tj 0.997 -1.231 Td (denitrification services)Tj -0.025 Tw 14.739 0 Td (1,971,060)Tj 0 Tc 0 Tw 11.176 0 Td (\226)Tj 7.476 0 Td (\226)Tj 7.476 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.776 0 Td (1,971,060)Tj ET q 1 0 0 1 209.7638 496.2214 cm 0 0 m 56.693 0 l S Q BT 0 Tc 0 Tw 9.1 0 0 13 204.0945 497.6224 Tm ( )Tj ET q 1 0 0 1 277.7953 496.2214 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 272.126 497.6224 Tm ( )Tj ET q 1 0 0 1 345.8268 496.2214 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 340.1575 497.6224 Tm ( )Tj ET q 1 0 0 1 413.8583 496.2214 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 408.189 497.6224 Tm ( )Tj ET q 1 0 0 1 481.8898 496.2214 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 476.2205 497.6224 Tm ( )Tj /T1_1 1 Tf 0.023 Tc -42.987 -2.462 Td [(Total revenue from contracts)-2 ( )]TJ 0.025 Tc 0.997 -1.231 Td (with customers)Tj /T1_0 1 Tf -0.025 Tw 14.739 0 Td (2,349,854)Tj 8.801 0 Td (44,109)Tj 0 Tc 0 Tw 9.851 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.101 0 Td (13,884)Tj 6.151 0 Td (2,407,847)Tj ET 2.5 w q 1 0 0 1 209.7638 444.0578 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 209.7638 440.7253 cm 0 0 m 56.693 0 l S Q BT 0 Tc 0 Tw 9.1 0 0 13 204.0945 441.9588 Tm ( )Tj ET 2.5 w q 1 0 0 1 277.7953 444.0578 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 277.7953 440.7253 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 272.126 441.9588 Tm ( )Tj ET 2.5 w q 1 0 0 1 345.8268 444.0578 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 345.8268 440.7253 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 340.1575 441.9588 Tm ( )Tj ET 2.5 w q 1 0 0 1 413.8583 444.0578 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 413.8583 440.7253 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 408.189 441.9588 Tm ( )Tj ET 2.5 w q 1 0 0 1 481.8898 444.0578 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 481.8898 440.7253 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 476.2205 441.9588 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -42.987 -2.462 Td (Timing of revenue )Tj -0.025 Tw 0.997 -1.231 Td (recognition)Tj /T1_0 1 Tf 0 Tw -0.997 -1.231 Td (Goods transferred at a point )Tj 0 Tc 9.1 0 0 13 195.503 377.9589 Tm ( )Tj 0.025 Tc 9.1 0 0 13 94.1103 361.9589 Tm (in time)Tj -0.025 Tw 15.539 0 Td (250,367)Tj 0 Tc 0 Tw 10.376 0 Td (\226)Tj 7.476 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.101 0 Td (13,884)Tj 6.951 0 Td (264,251)Tj 0 Tw -46.44 -1.231 Td (Services transferred over time)Tj -0.025 Tw 15.736 0 Td (2,099,487)Tj 8.801 0 Td (44,109)Tj 0 Tc 0 Tw 9.851 0 Td (\226)Tj 7.476 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.776 0 Td (2,143,596)Tj ET 0.5 w q 1 0 0 1 209.7638 341.5488 cm 0 0 m 56.693 0 l S Q BT 0 Tc 0 Tw 9.1 0 0 13 204.0945 342.9498 Tm ( )Tj ET q 1 0 0 1 277.7953 341.5488 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 272.126 342.9498 Tm ( )Tj ET q 1 0 0 1 345.8268 341.5488 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 340.1575 342.9498 Tm ( )Tj ET q 1 0 0 1 413.8583 341.5488 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 408.189 342.9498 Tm ( )Tj ET q 1 0 0 1 481.8898 341.5488 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 476.2205 342.9498 Tm ( )Tj /T1_1 1 Tf 0.023 Tc -42.987 -2.462 Td [(Total revenue from contracts)-2 ( )]TJ 0 Tc 9.1 0 0 13 204.322 310.9498 Tm ( )Tj 0.025 Tc 9.1 0 0 13 94.1103 294.9498 Tm (with customers)Tj /T1_0 1 Tf -0.025 Tw 14.739 0 Td (2,349,854)Tj 8.801 0 Td (44,109)Tj 0 Tc 0 Tw 9.851 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.101 0 Td (13,884)Tj 6.151 0 Td (2,407,847)Tj ET 2.5 w q 1 0 0 1 209.7638 289.3853 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 209.7638 286.0528 cm 0 0 m 56.693 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 9.1 0 0 13 204.0945 287.2863 Tm ( )Tj ET 2.5 w q 1 0 0 1 277.7953 289.3853 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 277.7953 286.0528 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 272.126 287.2863 Tm ( )Tj ET 2.5 w q 1 0 0 1 345.8268 289.3853 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 345.8268 286.0528 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 340.1575 287.2863 Tm ( )Tj ET 2.5 w q 1 0 0 1 413.8583 289.3853 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 413.8583 286.0528 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 408.189 287.2863 Tm ( )Tj ET 2.5 w q 1 0 0 1 481.8898 289.3853 cm 0 0 m 56.693 0 l S Q 0.835 w q 1 0 0 1 481.8898 286.0528 cm 0 0 m 56.693 0 l S Q BT 9.1 0 0 13 476.2205 287.2863 Tm ( )Tj ET endstreamendobj181 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 18 \226)Tj /T1_1 1 Tf 1.106 Tw 13 0 0 13 56.6929 776.409 Tm [(4. )0.5 (REVENUE)]TJ /T1_0 1 Tf 0 Tw 2.181 -2.462 Td (An analysis of revenue is as follows:)Tj /T1_1 1 Tf 10.4 0 0 13 340.9615 712.4089 Tm (For the six months ended 30 June)Tj -0.025 Tw 4.934 -1.231 Td (2026)Tj /T1_0 1 Tf 11.993 0 Td (2025)Tj /T1_1 1 Tf -14.619 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 12.328 0 Td (Unaudited)Tj /T1_1 1 Tf 10.4 0 3.4833 13 367.6383 664.4089 Tm (RMB\222000)Tj /T1_0 1 Tf 12.103 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 300.4724 659.9989 cm 0 0 m 113.386 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10.4 0 0 13 408.1383 661.3999 Tm ( )Tj ET q 1 0 0 1 425.1969 659.9989 cm 0 0 m 113.386 0 l S Q BT /T1_0 1 Tf 10.4 0 0 13 532.8627 661.3999 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -43.06 -2.462 Td (Revenue from contracts with customers)Tj -0.025 Tw 27.417 0 Td (2,259,374 )Tj /T1_0 1 Tf 11.993 0 Td (2,407,847)Tj ET 2.5 w q 1 0 0 1 300.4724 623.8353 cm 0 0 m 113.386 0 l S Q 0.835 w q 1 0 0 1 300.4724 620.5028 cm 0 0 m 113.386 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10.4 0 0 13 408.1383 621.7363 Tm ( )Tj ET 2.5 w q 1 0 0 1 425.1969 623.8353 cm 0 0 m 113.386 0 l S Q 0.835 w q 1 0 0 1 425.1969 620.5028 cm 0 0 m 113.386 0 l S Q BT /T1_0 1 Tf 10.4 0 0 13 532.8627 621.7363 Tm ( )Tj 0.025 Tc 13 0 0 13 85.0394 591.3873 Tm (Disaggregated revenue information for revenue from contracts with custom\ers:)Tj /T1_1 1 Tf 6.5 0 0 13 299.3101 559.3873 Tm (For the six months ended 30 June 2026 \(unaudited\))Tj -32.965 -6.154 Td (Operating segments)Tj -0.025 Tw 19.421 4.923 Td (Environmental)Tj 2.132 -1.231 Td (protection)Tj 0 Tw -0.362 -1.231 Td (and energy)Tj -0.025 Tw -0.744 -1.231 Td (conservation)Tj 1.74 -1.231 Td (solutions)Tj 7.835 2.462 Td (Renewable)Tj 1.853 -1.231 Td (energy)Tj -2.237 -1.231 Td (engineering)Tj 10.1 2.462 Td (Thermal)Tj 1.106 -1.231 Td (power)Tj -2.484 -1.231 Td (engineering)Tj 9.854 2.462 Td (Resource)Tj 0.03 -1.231 Td (recycling)Tj -0.527 -1.231 Td (businesses)Tj 10.682 1.231 Td (Other)Tj -1.96 -1.231 Td (businesses)Tj 10.959 0 Td (Total)Tj 6.5 0 3.4833 13 225.7303 463.3873 Tm (RMB\222000)Tj 8.722 0 Td (RMB\222000)Tj 8.722 0 Td (RMB\222000)Tj 8.722 0 Td (RMB\222000)Tj 8.722 0 Td (RMB\222000)Tj 8.722 0 Td (RMB\222000)Tj ET 0.5 w q 1 0 0 1 209.7638 458.9773 cm 0 0 m 45.354 0 l S Q BT 0 Tc 0 Tw 6.5 0 0 13 251.5431 460.3782 Tm ( )Tj ET q 1 0 0 1 266.4567 458.9773 cm 0 0 m 45.354 0 l S Q BT /T1_0 1 Tf 6.5 0 0 13 308.236 460.3782 Tm ( )Tj ET q 1 0 0 1 323.1496 458.9773 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 364.929 460.3782 Tm ( )Tj ET q 1 0 0 1 379.8425 458.9773 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 421.6219 460.3782 Tm ( )Tj ET q 1 0 0 1 436.5355 458.9773 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 478.3148 460.3782 Tm ( )Tj ET q 1 0 0 1 493.2284 458.9773 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 535.0078 460.3782 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -69.226 -2.462 Td (Types of goods or service)Tj /T1_0 1 Tf 0 -1.231 Td (Sale of industrial products)Tj /T1_1 1 Tf -0.025 Tw 22.766 0 Td (296,970)Tj 0 Tc 0 Tw 11.622 0 Td (\226)Tj 8.722 0 Td (\226)Tj 8.722 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.347 0 Td (12,330)Tj 8.197 0 Td (309,300)Tj /T1_0 1 Tf 0 Tw -66.376 -1.231 Td (Construction services)Tj /T1_1 1 Tf -0.025 Tw 23.291 0 Td (65,292)Tj 9.247 0 Td (3,074)Tj 0 Tc 0 Tw 10.572 0 Td (\226)Tj 8.722 0 Td (\226)Tj 8.722 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.347 0 Td (68,366)Tj /T1_0 1 Tf 0 Tw -66.901 -1.231 Td (Desulfurisation and denitrification services)Tj /T1_1 1 Tf -0.025 Tw 21.966 0 Td (1,839,009)Tj 0 Tc 0 Tw 12.422 0 Td (\226)Tj 8.722 0 Td (\226)Tj 8.722 0 Td (\226)Tj 8.722 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.022 0 Td (1,839,009)Tj /T1_0 1 Tf -65.576 -1.231 Td (Resource )Tj 4.196 0 Td (recycling)Tj /T1_1 1 Tf 0 Tc 0 Tw 21.47 0 Td (\226)Tj 8.722 0 Td (\226)Tj 8.722 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.347 0 Td (42,699)Tj 0 Tc 0 Tw 11.097 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.347 0 Td (42,699)Tj ET q 1 0 0 1 209.7641 359.9678 cm 0 0 m 45.354 0 l S Q BT 0 Tc 0 Tw 6.5 0 0 13 251.5434 361.3688 Tm ( )Tj ET q 1 0 0 1 266.4569 359.9678 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 308.2363 361.3688 Tm ( )Tj ET q 1 0 0 1 323.1499 359.9678 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 364.9292 361.3688 Tm ( )Tj ET q 1 0 0 1 379.8428 359.9678 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 421.6221 361.3688 Tm ( )Tj ET q 1 0 0 1 436.5357 359.9678 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 478.3151 361.3688 Tm ( )Tj ET q 1 0 0 1 493.2286 359.9678 cm 0 0 m 45.354 0 l S Q 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0 1 436.5359 307.8042 cm 0 0 m 45.354 0 l S Q 0.835 w q 1 0 0 1 436.5359 304.4717 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 478.3152 305.7051 Tm ( )Tj ET 2.5 w q 1 0 0 1 493.2288 307.8042 cm 0 0 m 45.354 0 l S Q 0.835 w q 1 0 0 1 493.2288 304.4717 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 535.0081 305.7051 Tm ( )Tj 0.025 Tc -69.226 -2.462 Td (Timing of revenue recognition)Tj /T1_0 1 Tf 0 -1.231 Td (Goods transferred at a )Tj 0 Tc ( )Tj 0.025 Tc 0.916 -1.231 Td (point in time)Tj /T1_1 1 Tf -0.025 Tw 21.85 0 Td (296,970)Tj 0 Tc 0 Tw 11.622 0 Td (\226)Tj 8.722 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.347 0 Td (42,699)Tj 8.722 0 Td (12,330)Tj 8.197 0 Td (351,999)Tj /T1_0 1 Tf 0 Tw -66.376 -1.231 Td (Services transferred over time)Tj /T1_1 1 Tf -0.025 Tw 21.966 0 Td (1,904,301)Tj 10.572 0 Td (3,074)Tj 0 Tc 0 Tw 10.572 0 Td (\226)Tj 8.722 0 Td (\226)Tj 8.722 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.022 0 Td (1,907,375)Tj ET 0.5 w q 1 0 0 1 209.7644 221.2952 cm 0 0 m 45.354 0 l S Q BT 0 Tc 0 Tw 6.5 0 0 13 251.5437 222.6961 Tm ( )Tj ET q 1 0 0 1 266.4573 221.2952 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 308.2366 222.6961 Tm ( )Tj ET q 1 0 0 1 323.1502 221.2952 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 364.9296 222.6961 Tm ( )Tj ET q 1 0 0 1 379.8431 221.2952 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 421.6225 222.6961 Tm ( )Tj ET q 1 0 0 1 436.5361 221.2952 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 478.3154 222.6961 Tm ( )Tj ET q 1 0 0 1 493.229 221.2952 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 535.0084 222.6961 Tm ( )Tj 0.025 Tc -69.226 -2.462 Td (Total revenue from contracts with )Tj -0.025 Tw 0.916 -1.231 Td (customers)Tj 21.05 0 Td (2,201,)Tj (271)Tj 10.572 0 Td (3,074)Tj 0 Tc 0 Tw 10.572 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.347 0 Td (42,699)Tj 8.722 0 Td (12,330)Tj 7.397 0 Td (2,259,374)Tj ET 2.5 w q 1 0 0 1 209.7645 169.1316 cm 0 0 m 45.354 0 l S Q 0.835 w q 1 0 0 1 209.7645 165.7991 cm 0 0 m 45.354 0 l S Q BT /T1_0 1 Tf 0 Tc 0 Tw 6.5 0 0 13 251.5439 167.0326 Tm ( )Tj ET 2.5 w q 1 0 0 1 266.4574 169.1316 cm 0 0 m 45.354 0 l S Q 0.835 w q 1 0 0 1 266.4574 165.7991 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 308.2368 167.0326 Tm ( )Tj ET 2.5 w q 1 0 0 1 323.1504 169.1316 cm 0 0 m 45.354 0 l S Q 0.835 w q 1 0 0 1 323.1504 165.7991 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 364.9297 167.0326 Tm ( )Tj ET 2.5 w q 1 0 0 1 379.8433 169.1316 cm 0 0 m 45.354 0 l S Q 0.835 w q 1 0 0 1 379.8433 165.7991 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 421.6226 167.0326 Tm ( )Tj ET 2.5 w q 1 0 0 1 436.5362 169.1316 cm 0 0 m 45.354 0 l S Q 0.835 w q 1 0 0 1 436.5362 165.7991 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 478.3156 167.0326 Tm ( )Tj ET 2.5 w q 1 0 0 1 493.2291 169.1316 cm 0 0 m 45.354 0 l S Q 0.835 w q 1 0 0 1 493.2291 165.7991 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 535.0085 167.0326 Tm ( )Tj ET endstreamendobj180 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 17 \226)Tj 8.45 0 0 13 85.0394 697.6667 Tm (For the six months ended )Tj 0 Tc 8.45 0 0 13 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0.835 w q 1 0 0 1 487.5591 537.7606 cm 0 0 m 51.024 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 531.4327 538.9941 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -34.338 -2.335 Td (Geographical information)Tj /T1_0 1 Tf 0.031 Tc 0.077 Tw 0 -2.462 Td [(The)6 ( )0.5 (majority)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (non-current)6 ( )0.5 (assets)6 ( )0.5 (are)6 ( )0.5 (located)6 ( )0.5 (in)6 ( )0.5 (the)6 ( )0.5 (PRC,)6 ( )0.5 (and)6 ( )0.5 (the)6.1 ( )0.5 (majority)6 ( )]TJ 0.069 Tc 0.07 Tw 0 -1.231 Td [(of)12.8 ( revenue)12.8 ( is)12.9 ( generated)12.8 ( from)12.8 ( the)12.8 ( PRC.)12.8 ( Therefore,)12.8 ( no)12.8 ( further)12.8 ( geographical)44 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (information is presented.)Tj /T1_1 1 Tf 0 -2.462 Td (Information about major customers)Tj /T1_0 1 Tf 0.056 Tc 0.07 Tw 0 -2.462 Td [(Revenue)12.7 ( of)12.6 ( approximately)12.7 ( RMB)]TJ 0.043 Tc -0.043 Tw 14.805 0 Td (1,851)Tj 0.056 Tc 0.07 Tw [( million)12.7 ( was)12.7 ( derived)12.7 ( from)12.7 ( the)12.7 ( sales)12.7 ( of)31.1 ( )]TJ 0.018 Tc 0 Tw -14.805 -1.231 Td [(goods and the rendering of services to China Datang and its subsidiaries\ \(excluding)-7 ( )]TJ 0.038 Tc 0.07 Tw 0 -1.231 Td [(the)12.9 ( Group\))12.9 ( \(\223)]TJ /T1_1 1 Tf [(China)12.9 ( Datang)12.9 ( Group)]TJ /T1_0 1 Tf [(\224\))12.9 ( \(for)12.9 ( the)12.9 ( six)12.9 ( months)12.9 ( ended)12.9 ( 3)12.8 (0)12.9 ( June)12.9 ( 2)12.9 (0)12.9 (2)12.9 (5)12.8 (:)13 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (approximately RMB1,796 million\).)Tj /T1_1 1 Tf 0 -2.462 Td (Seasonal operations)Tj /T1_0 1 Tf 0.033 Tw 0 -2.462 Td (The Group\222s business operations are not significantly affected by any\ seasonal or )Tj 0 Tw 0 -1.231 Td (cyclical factors.)Tj /T1_1 1 Tf -2.18 40.073 Td [(3. )-1105.5 (OPERATING SEGMENT INFORMATION \(CONTINUED\))]TJ ET endstreamendobj179 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 16 \226)Tj 8.45 0 0 13 85.0394 697.6667 Tm (For the six months ended )Tj 0 Tc 8.45 0 0 13 177.8702 697.6667 Tm ( )Tj 0.025 Tc 8.45 0 0 13 85.0394 683.1667 Tm (30 June 2025 \(unaudited\))Tj -0.025 Tw 17.909 4.462 Td (Environmental)Tj 1.964 -1.115 Td (protection)Tj 0 Tw -0.36 -1.115 Td (and energy)Tj -0.025 Tw -0.745 -1.115 Td (conservation)Tj 1.573 -1.115 Td (solutions)Tj 6.549 2.231 Td (Renewable)Tj 1.797 -1.115 Td (energy)Tj -2.125 -1.115 Td (engineering)Tj 8.813 2.231 Td (Thermal)Tj 0.939 -1.115 Td (power)Tj -2.372 -1.115 Td (engineering)Tj 9.974 1.115 Td (Other)Tj -1.187 -1.115 Td (business)Tj 8.733 0 Td (Total)Tj 8.45 0 3.4833 13 252.2594 668.6667 Tm (RMB\222000)Tj 7.38 0 Td (RMB\222000)Tj 7.38 0 Td (RMB\222000)Tj 7.38 0 Td (RMB\222000)Tj 7.38 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 238.1102 664.2567 cm 0 0 m 51.024 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 281.9839 665.6577 Tm ( )Tj ET q 1 0 0 1 300.4724 664.2567 cm 0 0 m 51.024 0 l S Q BT 13 0 0 13 344.3461 665.6577 Tm ( )Tj ET q 1 0 0 1 362.8346 664.2567 cm 0 0 m 51.024 0 l S Q BT 13 0 0 13 406.7083 665.6577 Tm ( )Tj ET q 1 0 0 1 425.1968 664.2567 cm 0 0 m 51.024 0 l S Q BT 13 0 0 13 469.0705 665.6577 Tm ( )Tj ET q 1 0 0 1 487.5591 664.2567 cm 0 0 m 51.024 0 l S Q BT 13 0 0 13 531.4327 665.6577 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 8.45 0 0 13 85.0394 636.6577 Tm (Segment revenue)Tj 8.45 0 3.4833 13 149.9259 636.6577 Tm ( \(Note 4\))Tj /T1_0 1 Tf 8.45 0 0 13 85.0394 622.1577 Tm (Sales to external customers)Tj -0.025 Tw 19.953 0 Td (2,349,854)Tj 8.705 0 Td (44,109)Tj 0 Tc 0 Tw 9.755 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.005 0 Td (13,884)Tj 6.055 0 Td (2,407,847)Tj 0 Tw -49.474 -1.115 Td (Inter-segment sales)Tj 0 Tc 23.653 0 Td (\226)Tj 7.38 0 Td (\226)Tj 7.38 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.005 0 Td (25,533)Tj 7.38 0 Td (25,533)Tj ET q 1 0 0 1 238.1102 603.2476 cm 0 0 m 51.024 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 281.9839 604.6486 Tm ( )Tj ET q 1 0 0 1 300.4724 603.2476 cm 0 0 m 51.024 0 l S Q BT 13 0 0 13 344.3461 604.6486 Tm ( )Tj ET q 1 0 0 1 362.8346 603.2476 cm 0 0 m 51.024 0 l S Q BT 13 0 0 13 406.7083 604.6486 Tm ( )Tj ET q 1 0 0 1 425.1968 603.2476 cm 0 0 m 51.024 0 l S Q BT 13 0 0 13 469.0705 604.6486 Tm ( )Tj ET q 1 0 0 1 487.5591 603.2476 cm 0 0 m 51.024 0 l S Q BT 13 0 0 13 531.4327 604.6486 Tm ( )Tj 0.025 Tc -0.025 Tw 8.45 0 0 13 253.644 575.6486 Tm (2,349,854)Tj 8.705 0 Td (44,109)Tj 0 Tc 0 Tw 9.755 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.005 0 Td (39,417)Tj 6.055 0 Td (2,433,380)Tj 8.45 0 3.4833 13 83.7053 546.6486 Tm (Reconciliation:)Tj 0 Tw 8.45 0 0 13 85.0394 532.1486 Tm (Elimination of inter-segment sales)Tj -0.025 Tw 50.416 0 Td (\(25,533\))Tj ET q 1 0 0 1 487.5591 527.7386 cm 0 0 m 51.024 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 531.4327 529.1396 Tm ( )Tj 0.025 Tc -0.025 Tw 8.45 0 0 13 85.0394 500.1396 Tm (Revenue)Tj 49.474 0 Td (2,407,847)Tj ET 2.5 w q 1 0 0 1 487.5591 494.575 cm 0 0 m 51.024 0 l S Q 0.835 w q 1 0 0 1 487.5591 491.2425 cm 0 0 m 51.024 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 531.4327 492.476 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 8.45 0 0 13 85.0394 463.476 Tm (Segment results)Tj /T1_0 1 Tf -0.025 Tw 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Summary details of the operating segments are as follows:)Tj /T1_1 1 Tf 0 -2.462 Td [(\(a\) )-664.5 (Environmental protection and energy conservation solutions)]TJ /T1_0 1 Tf 0.041 Tc 0.07 Tw 2.18 -2.462 Td [(The)12.2 ( environmental)12.2 ( protection)12.1 ( and)12.2 ( energy)12.2 ( conservation)12.2 ( solutions)12.2 ( business)16 ( )]TJ 0.072 Tc 0 -1.231 Td [(mainly)12.3 ( includes)12.2 ( flue)12.3 ( gas)12.2 ( desulfurisation)12.2 ( and)12.2 ( denitrification)12.2 ( facilities)47 ( )]TJ 0.023 Tc 0 Tw 0 -1.231 Td [(concession operation for coal-fired power plants; the manufacture and sa\le of)-2 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(d)0.5 (e)0.5 (n)0.5 (i)0.6 (t)0.5 (r)0.5 (i)0.5 (f)0.5 (i)0.5 (c)0.5 (a)0.6 (t)0.5 (i)0.5 (o)0.5 (n)7 ( )0.5 (c)0.5 (a)0.5 (t)0.5 (a)0.6 (l)0.5 (y)0.5 (s)0.5 (t)0.5 (s)0.5 (;)7 ( )0.5 (e)0.6 (n)0.5 (g)0.5 (i)0.5 (n)0.5 (e)0.5 (e)0.5 (r)0.6 (i)0.5 (n)0.5 (g)7 ( )0.5 (f)0.5 (o)0.5 (r)7 ( )0.5 (c)0.5 (o)0.5 (a)0.6 (l)0.5 (-)0.5 (f)0.5 (i)0.5 (r)0.5 (e)0.6 (d)7 ( )0.5 (p)0.5 (o)0.5 (w)0.5 (e)0.5 (r)7 ( )0.5 (p)0.5 (l)0.6 (a)0.5 (n)0.5 (t)0.5 (s)0.5 (,)7 ( )0.5 (i)0.5 (n)0.5 (c)0.6 (l)0.5 (u)0.5 (d)0.5 (i)0.5 (n)0.5 (g)7 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (the engineering of denitrification, desulfurization, dust removal, ash a\nd slag )Tj 0.024 Tc 0 -1.231 Td [(handling and other environmental protection facilities and industrial si\te dust)-1 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(management)4 ( )0.5 (related)4 ( )0.5 (engineering;)4 ( )0.5 (water)4 ( )0.5 (treatment;)4 ( )0.5 (and)4 ( )0.5 (energy)4 ( )0.5 (conservation)4 ( )]TJ 0.025 Tc 0.012 Tw 0 -1.231 Td (including energy conservation facilities engineering and energy manageme\nt )Tj 0 Tw 0 -1.231 Td (contracting \(\223)Tj /T1_1 1 Tf -0.025 Tw (EMC)Tj /T1_0 1 Tf (\224\).)Tj /T1_1 1 Tf 0 Tw -2.18 -2.462 Td [(\(b\) )-608.5 (Renewable energy engineering)]TJ /T1_0 1 Tf 0.045 Tw 2.18 -2.462 Td (The renewable energy engineering business mainly includes the engineerin\g )Tj 0.017 Tw 0 -1.231 Td (general contracting for newly built wind power plants, biomass power pla\nts )Tj 0 Tw 0 -1.231 Td (and photovoltaic power plants.)Tj /T1_1 1 Tf -2.18 -2.462 Td [(\(c\) )-720.5 (Thermal power engineering)]TJ /T1_0 1 Tf 0.043 Tc 0.07 Tw 2.18 -2.462 Td [(The)12.4 ( thermal)12.4 ( power)12.4 ( engineering)12.4 ( business)12.4 ( mainly)12.3 ( includes)12.4 ( the)12.4 ( engineering)18 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (procurement construction \(\223)Tj /T1_1 1 Tf -0.025 Tw (EPC)Tj /T1_0 1 Tf 0 Tw (\224\) services for thermal power plants.)Tj /T1_1 1 Tf -2.18 -2.462 Td [(\(d\) )-608.5 (Resource recycling businesses)]TJ /T1_0 1 Tf 0.039 Tc 0.07 Tw 2.18 -2.462 Td [(During)12.2 ( the)12.2 ( six)12.1 ( months)12.2 ( ended)12.2 ( 3)12.2 (0)12.1 ( June)12.2 ( 2)12.2 (0)12.2 (2)12.2 (6)12.1 (,)12.2 ( the)12.2 ( Group)12.1 ( identified)12.1 ( resource)14 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (recycling businesses as a new reportable operating segment.)Tj 0.081 Tc 0.07 Tw 0 -2.462 Td [(The)12.7 ( resource)12.7 ( recycling)12.7 ( business)]TJ -0.081 Tw (es)Tj 0.07 Tw 16.462 0 Td [( mainly)12.7 ( )]TJ -0.081 Tw (include)Tj 0.07 Tw 7.549 0 Td [( the)12.7 ( recycling)12.7 ( and)56 ( )]TJ 0.029 Tc 0.079 Tw -24.011 -1.231 Td [(comprehensive)4.1 ( utilisation)4 ( )0.5 (of)4 ( )0.5 (resources)4 ( )0.5 (such)4 ( )0.5 (as)4 ( )0.5 (new)4 ( )0.5 (energy)4 ( )0.5 (solid)4 ( )0.5 (waste)4 ( )0.6 (and)4 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (desulfurization gypsum.)Tj /T1_1 1 Tf -2.18 -2.462 Td [(\(e\) )-720.5 (Other businesses)]TJ /T1_0 1 Tf 0.068 Tc 0.07 Tw 2.18 -2.462 Td [(Other)12.1 ( businesses)12.1 ( currently)12.1 ( mainly)12.1 ( include)12 ( various)12.1 ( businesses)12 ( such)12.1 ( as)43 ( )]TJ 0.024 Tc 0 Tw 0 -1.231 Td [(fiberglass chimney anti-corrosion and air cooling system engineering gen\eral)-1 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (contracting.)Tj ET endstreamendobj185 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 12 \226)Tj /T1_1 1 Tf 0.137 Tc 0.07 Tw 13 0 0 13 56.6929 776.409 Tm [(2)112 (.)112 ( )-923.5 (BASIS)12.7 ( OF)12.8 ( PREPARATION)12.7 ( AND)12.7 ( CHANGES)12.8 ( IN)12.8 ( THE)12.7 ( GROUP\222S)112 ( )]TJ 0.14 Tc 2.181 -1.231 Td [(ACCOUNTING)12.6 ( POLICY)12.6 ( INFORMATION)12.6 ( AND)12.6 ( DISCLOSURES)115 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (\(CONTINUED\))Tj 0 Tw 0 -2.462 Td [(2.2 )-580.5 (Changes in accounting policy information and disclosures \(Continued\))]TJ /T1_0 1 Tf 0.048 Tc 0.07 Tw 2.18 -2.462 Td [(The)12.2 ( adoption)12.2 ( of)12.2 ( the)12.2 ( amendments)12.1 ( to)12.1 ( IFRS)12.1 ( Accounting)12.2 ( Standards)12.2 ( has)12.2 ( had)23 ( )]TJ 0.058 Tc 0 -1.231 Td [(no)12.9 ( s)0.5 (ignif)0.5 (ican)0.5 (t)12.9 ( eff)0.5 (ect)13 ( on)12.9 ( th)0.5 (ese)13 ( inte)0.5 (rim)12.9 ( c)0.5 (onden)0.5 (sed)12.9 ( )0.5 (conso)0.5 (lidat)0.5 (ed)12.9 ( f)0.5 (inanc)0.5 (ial)33 ( )]TJ 0.05 Tc 0 -1.231 Td [(information)12.4 ( for)12.4 ( the)12.4 ( six)12.4 ( months)12.4 ( ended)12.4 ( 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348.6615 604.8388 Tm ( )Tj ET q 1 0 0 1 385.5119 603.4378 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 385.5119 604.8388 Tm ( )Tj ET q 1 0 0 1 425.1969 603.4378 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 425.1969 604.8388 Tm ( )Tj ET q 1 0 0 1 464.882 603.4378 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 464.882 604.8388 Tm ( )Tj ET q 1 0 0 1 504.567 603.4378 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 504.567 604.8388 Tm ( )Tj 0.025 Tc -68.904 -2.462 Td (At 1 January 2025 \(audited\))Tj -0.025 Tw 13.68 0 Td (2,967,542)Tj 6.105 0 Td (1,315,483)Tj 6.905 0 Td (551,297)Tj 6.63 0 Td (46,153)Tj 7.992 0 Td (\(1,201\))Tj 6.052 0 Td (1,407)Tj 4.255 0 Td (2,833,894)Tj 6.105 0 Td (7,714,575)Tj 6.522 0 Td (\(204,981\))Tj 5.688 0 Td (7,509,594)Tj 0 Tw -69.937 -1.231 Td (Profit for the period)Tj 0 Tc 17.38 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 7.85 0 Td (\226)Tj 5.669 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.205 0 Td (283,696)Tj 6.105 0 Td (283,696)Tj 6.63 0 Td (28,167)Tj 5.58 0 Td (311,863)Tj 0 Tw -70.737 -1.231 Td (Other comprehensive )Tj 0 Tc (\()Tj 0.025 Tc -0.025 Tw 9.689 0 Td (losses)Tj (\)/)Tj -9.035 -1.231 Td (income)Tj 0 Tw ( for the period:)Tj -0.654 -1.231 Td (Change in fair value of equity )Tj 0.654 -1.231 Td (investments designated at )Tj 0 -1.231 Td (fair value through other )Tj 0 -1.231 Td (comprehensive income, net )Tj 0 -1.231 Td (of tax)Tj 0 Tc 16.726 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.417 0 Td (\(306\))Tj 0 Tc 0 Tw 7.102 0 Td (\226)Tj 6.105 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.672 0 Td (\(306\))Tj 0 Tc 0 Tw 7.538 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.672 0 Td (\(306\))Tj 0 Tw -72.204 -1.231 Td (Exchange difference on )Tj 0.654 -1.231 Td (translation of foreign )Tj -0.025 Tw 0 -1.231 Td (operations)Tj 0 Tc 0 Tw 16.726 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 7.85 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.619 0 Td (820)Tj 0 Tc 0 Tw 7.155 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.055 0 Td (820)Tj 6.105 0 Td (644)Tj 5.305 0 Td (1,464)Tj ET q 1 0 0 1 144.5671 392.4288 cm 0 0 m 28.346 0 l S Q BT 0 Tc 0 Tw 6.5 0 0 13 144.5671 393.8298 Tm ( )Tj ET q 1 0 0 1 178.5829 392.4288 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 178.5829 393.8298 Tm ( )Tj ET q 1 0 0 1 218.2679 392.4288 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 218.2679 393.8298 Tm ( )Tj ET q 1 0 0 1 257.9529 392.4288 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 257.9529 393.8298 Tm ( )Tj ET q 1 0 0 1 297.638 392.4288 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 339.4173 393.8298 Tm ( )Tj ET q 1 0 0 1 348.6616 392.4288 cm 0 0 m 31.181 0 l S Q BT 6.5 0 0 13 348.6616 393.8298 Tm ( )Tj ET q 1 0 0 1 385.512 392.4288 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 385.512 393.8298 Tm ( )Tj ET q 1 0 0 1 425.1971 392.4288 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 425.1971 393.8298 Tm ( )Tj ET q 1 0 0 1 464.8821 392.4288 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 464.8821 393.8298 Tm ( )Tj ET q 1 0 0 1 504.5671 392.4288 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 504.5671 393.8298 Tm ( )Tj 0.025 Tc -68.904 -2.462 Td (Total comprehensive )Tj -0.025 Tw 0.654 -1.231 Td (\(losses\))Tj /C0_0 1 Tf 0 Tc 0 Tw <014A>Tj /T1_0 1 Tf 0.025 Tc 4.28 0 Td (income for the )Tj -0.025 Tw -4.28 -1.231 Td (period)Tj 0 Tc 0 Tw 16.726 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.417 0 Td (\(306\))Tj 6.052 0 Td (820)Tj 4.255 0 Td (283,696)Tj 6.105 0 Td (284,210)Tj 6.63 0 Td (28,811)Tj 5.58 0 Td (313,021)Tj 0 Tw -70.737 -1.231 Td (Appropriation to statutory )Tj 0.654 -1.231 Td (surplus reserve and other )Tj -0.025 Tw 0 -1.231 Td (reserve)Tj 0 Tc 0 Tw 16.726 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.255 0 Td (6,400)Tj 0 Tc 0 Tw 9.7 0 Td (\226)Tj 5.669 0 Td (\226)Tj 6.105 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.255 0 Td (6,400)Tj 6.905 0 Td (453)Tj 5.305 0 Td (6,853)Tj 0 Tw -71.787 -1.231 Td (Final 2024 dividends declared )Tj 6.5 0 3.4833 13 60.9452 249.8298 Tm (\(Note 8\))Tj 0 Tc 6.5 0 0 13 169.6637 249.8298 Tm (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 7.85 0 Td (\226)Tj 5.669 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.822 0 Td (\(151,345\))Tj 6.105 0 Td (\(151,345\))Tj 0 Tc 0 Tw 9.388 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.822 0 Td (\(151,345\))Tj 0 Tw -70.354 -1.231 Td (Dividend declared by )Tj 0.654 -1.231 Td (a subsidiary to its )Tj 0 -1.231 Td (non-controlling interests)Tj 0 Tc 16.726 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 7.85 0 Td (\226)Tj 5.669 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.672 0 Td (\(945\))Tj 6.105 0 Td (\(945\))Tj ET q 1 0 0 1 144.5673 197.4198 cm 0 0 m 28.346 0 l S Q BT 0 Tc 0 Tw 6.5 0 0 13 144.5673 198.8207 Tm ( )Tj ET q 1 0 0 1 178.5831 197.4198 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 178.5831 198.8207 Tm ( )Tj ET q 1 0 0 1 218.2681 197.4198 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 218.2681 198.8207 Tm ( )Tj ET q 1 0 0 1 257.9531 197.4198 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 257.9531 198.8207 Tm ( )Tj ET q 1 0 0 1 297.6382 197.4198 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 339.4175 198.8207 Tm ( )Tj ET q 1 0 0 1 348.6618 197.4198 cm 0 0 m 31.181 0 l S Q BT 6.5 0 0 13 348.6618 198.8207 Tm ( )Tj ET q 1 0 0 1 385.5122 197.4198 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 385.5122 198.8207 Tm ( )Tj ET q 1 0 0 1 425.1972 197.4198 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 425.1972 198.8207 Tm ( )Tj ET q 1 0 0 1 464.8823 197.4198 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 464.8823 198.8207 Tm ( )Tj ET q 1 0 0 1 504.5673 197.4198 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 504.5673 198.8207 Tm ( )Tj 0.025 Tc -68.904 -2.462 Td (At 30 June 2025 \(unaudited\))Tj -0.025 Tw 13.68 0 Td (2,967,542)Tj 6.105 0 Td (1,315,483)Tj 6.905 0 Td (551,297)Tj 6.63 0 Td (52,553)Tj 7.992 0 Td (\(1,507\))Tj 6.052 0 Td (2,227)Tj 4.255 0 Td (2,966,245)Tj 6.105 0 Td (7,853,840)Tj 6.522 0 Td (\(176,662\))Tj 5.688 0 Td (7,677,178)Tj ET 2.5 w q 1 0 0 1 144.5674 161.2562 cm 0 0 m 28.346 0 l S Q 0.835 w q 1 0 0 1 144.5674 157.9237 cm 0 0 m 28.346 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 144.5674 159.1572 Tm ( )Tj ET 2.5 w q 1 0 0 1 178.5831 161.2562 cm 0 0 m 34.016 0 l S Q 0.835 w q 1 0 0 1 178.5831 157.9237 cm 0 0 m 34.016 0 l S Q BT 13 0 0 13 178.5831 159.1572 Tm ( )Tj ET 2.5 w q 1 0 0 1 218.2682 161.2562 cm 0 0 m 34.016 0 l S Q 0.835 w q 1 0 0 1 218.2682 157.9237 cm 0 0 m 34.016 0 l S Q BT 13 0 0 13 218.2682 159.1572 Tm ( )Tj ET 2.5 w q 1 0 0 1 257.9532 161.2562 cm 0 0 m 34.016 0 l S Q 0.835 w q 1 0 0 1 257.9532 157.9237 cm 0 0 m 34.016 0 l S Q BT 13 0 0 13 257.9532 159.1572 Tm ( )Tj ET 2.5 w q 1 0 0 1 297.6382 161.2562 cm 0 0 m 45.354 0 l S Q 0.835 w q 1 0 0 1 297.6382 157.9237 cm 0 0 m 45.354 0 l S Q BT 13 0 0 13 297.6382 159.1572 Tm ( )Tj ET 2.5 w q 1 0 0 1 348.6619 161.2562 cm 0 0 m 31.181 0 l S Q 0.835 w q 1 0 0 1 348.6619 157.9237 cm 0 0 m 31.181 0 l S Q BT 13 0 0 13 348.6619 159.1572 Tm ( )Tj ET 2.5 w q 1 0 0 1 385.5123 161.2562 cm 0 0 m 34.016 0 l S Q 0.835 w q 1 0 0 1 385.5123 157.9237 cm 0 0 m 34.016 0 l S Q BT 13 0 0 13 385.5123 159.1572 Tm ( )Tj ET 2.5 w q 1 0 0 1 425.1973 161.2562 cm 0 0 m 34.016 0 l S Q 0.835 w q 1 0 0 1 425.1973 157.9237 cm 0 0 m 34.016 0 l S Q BT 13 0 0 13 425.1973 159.1572 Tm ( )Tj ET 2.5 w q 1 0 0 1 464.8823 161.2562 cm 0 0 m 34.016 0 l S Q 0.835 w q 1 0 0 1 464.8823 157.9237 cm 0 0 m 34.016 0 l S Q BT 13 0 0 13 464.8823 159.1572 Tm ( )Tj ET 2.5 w q 1 0 0 1 504.5674 161.2562 cm 0 0 m 34.016 0 l S Q 0.835 w q 1 0 0 1 504.5674 157.9237 cm 0 0 m 34.016 0 l S Q BT 13 0 0 13 504.5674 159.1572 Tm ( )Tj /T1_0 1 Tf 11 0 0 11 56.6934 130.8082 Tm (*)Tj 0.525 0 Td ( )Tj 0.074 Tc 0.07 Tw 2.052 0 Td [(These)12.5 ( reserves)12.5 ( accounts)12.5 ( comprise)12.6 ( the)12.5 ( consolidated)12.5 ( reserves)12.5 ( of)12.5 ( RMB)12.5 (5)12.5 (,)12.5 (2)12.5 (1)12.5 (6)12.5 (,)12.5 (1)12.5 (2)12.5 (1)12.5 (,)12.5 (0)12.5 (0)12.5 (0)12.5 ( and)49 ( )]TJ 0.067 Tc 0 -1.273 Td [(RMB)12.6 (4)12.5 (,)12.6 (8)12.5 (8)12.6 (6)12.5 (,)12.6 (2)12.5 (9)12.6 (8)12.5 (,)12.6 (0)12.5 (0)12.6 (0)12.5 ( as)12.6 ( at)12.6 ( 3)12.6 (0)12.5 ( June)12.6 ( 2)12.5 (0)12.6 (2)12.5 (6)12.6 ( and)12.6 ( 2)12.6 (0)12.5 (2)12.6 (5)12.5 (,)12.6 ( respectively,)12.6 ( in)12.5 ( the)12.6 ( interim)12.6 ( condensed)42 ( )]TJ 0.025 Tc 0 Tw 0 -1.273 Td (consolidated statement of financial position.)Tj ET endstreamendobj190 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 7 \226)Tj /T1_1 1 Tf 0.049 Tc 0.07 Tw 13 0 0 13 56.6929 776.0055 Tm [(INTERIM)12.2 ( CONDENSED)12.3 ( CONSOLIDATED)12.3 ( STATEMENT)12.3 ( OF)12.3 ( CHANGES)12.2 ( IN)24 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (EQUITY)Tj /T1_0 1 Tf 0 Tw 0 -1.231 Td (For the six months ended 30 June 2026)Tj 13 0 3.4833 13 55.3588 728.0055 Tm (\(Amounts expressed in thousands of RMB unless otherwise stated\))Tj /T1_1 1 Tf 6.5 0 0 13 251.6039 696.0055 Tm (Attributable to owners of the parent)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 150.2363 691.5954 cm 0 0 m 308.976 0 l S Q BT 0 Tc 6.5 0 0 13 144.567 692.9964 Tm ( )Tj 0.025 Tc -0.025 Tw 1.761 -9.846 Td (Share)Tj -0.439 -1.231 Td (capital)Tj 5.827 1.231 Td (Capital)Tj -0.467 -1.231 Td (reserve*)Tj 5.634 2.462 Td (Statutory)Tj 0.937 -1.231 Td (surplus)Tj -0.466 -1.231 Td (reserve*)Tj 7.234 1.231 Td (Other)Tj -1.129 -1.231 Td (reserve*)Tj 0 Tw 7.048 9.846 Td (Fair value)Tj -0.025 Tw 1.327 -1.231 Td (reserve)Tj 0 Tw -1.822 -1.231 Td (of financial)Tj -0.576 -1.231 Td (assets at fair)Tj -0.025 Tw 3.279 -1.231 Td (value)Tj -1.217 -1.231 Td (through)Tj 1.218 -1.231 Td (other)Tj -4.311 -1.231 Td (comprehensive)Tj 2.983 -1.231 Td (income*)Tj 5.032 2.462 Td (Exchange)Tj -0.455 -1.231 Td (fluctuation)Tj 1.013 -1.231 Td (reserve*)Tj 5.881 1.231 Td (Retained)Tj 0.5 -1.231 Td (profits*)Tj 7.235 0 Td (Total)Tj 6.13 2.462 Td (Non\226)Tj -2.564 -1.231 Td (controlling)Tj 1.107 -1.231 Td (interests)Tj 7.537 1.231 Td (Total)Tj -0.414 -1.231 Td (equity)Tj /T1_0 1 Tf 6.5 0 3.4833 13 144.2406 532.9965 Tm (RMB\221000)Tj 6.105 0 Td (RMB\221000)Tj 6.105 0 Td (RMB\221000)Tj 6.105 0 Td (RMB\221000)Tj 7.85 0 Td (RMB\221000)Tj 5.669 0 Td (RMB\221000)Tj 6.105 0 Td (RMB\221000)Tj 6.105 0 Td (RMB\221000)Tj 6.105 0 Td (RMB\221000)Tj 6.105 0 Td (RMB\221000)Tj ET q 1 0 0 1 144.567 528.5864 cm 0 0 m 28.346 0 l S Q BT 0 Tc 0 Tw 6.5 0 0 13 144.567 529.9874 Tm ( )Tj ET q 1 0 0 1 178.5828 528.5864 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 178.5828 529.9874 Tm ( )Tj ET q 1 0 0 1 218.2678 528.5864 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 218.2678 529.9874 Tm ( )Tj ET q 1 0 0 1 257.9528 528.5864 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 257.9528 529.9874 Tm ( )Tj ET q 1 0 0 1 297.6379 528.5864 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 339.4172 529.9874 Tm ( )Tj ET q 1 0 0 1 348.6615 528.5864 cm 0 0 m 31.181 0 l S Q BT 6.5 0 0 13 348.6615 529.9874 Tm ( )Tj ET q 1 0 0 1 385.5119 528.5864 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 385.5119 529.9874 Tm ( )Tj ET q 1 0 0 1 425.1969 528.5864 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 425.1969 529.9874 Tm ( )Tj ET q 1 0 0 1 464.882 528.5864 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 464.882 529.9874 Tm ( )Tj ET q 1 0 0 1 504.567 528.5864 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 504.567 529.9874 Tm ( )Tj 0.025 Tc -68.904 -2.462 Td (At 1 January 2026 \(audited\))Tj /T1_1 1 Tf -0.025 Tw 13.68 0 Td (2,967,542)Tj 6.105 0 Td (1,315,483)Tj 6.905 0 Td (607,049)Tj 6.63 0 Td (49,500)Tj 7.992 0 Td (\(3,392\))Tj 6.052 0 Td (5,643)Tj 4.255 0 Td (3,200,282)Tj 6.105 0 Td (8,142,107)Tj 6.522 0 Td (\(202,261\))Tj 5.688 0 Td (7,939,846)Tj /T1_0 1 Tf 0 Tw -69.937 -1.231 Td (Profit for the period)Tj /T1_1 1 Tf 0 Tc 17.38 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 7.85 0 Td (\226)Tj 5.669 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.205 0 Td (286,280)Tj 6.105 0 Td (286,280)Tj 6.63 0 Td (42,502)Tj 5.58 0 Td (328,782)Tj /T1_0 1 Tf 0.02 Tc 0 Tw -70.737 -1.231 Td (Other comprehensive )Tj 0 Tc (\()Tj 0.02 Tc -0.02 Tw 9.584 0 Td (losses)Tj (\)/)Tj -8.93 -1.231 Td (income)Tj 0 Tw ( for the period:)Tj -0.654 -1.231 Td (Change in fair value of equity )Tj 0.654 -1.231 Td (investments designated at )Tj 0 -1.231 Td (fair value through other )Tj 0 -1.231 Td (comprehensive income, net )Tj 0 -1.231 Td (of tax)Tj /T1_1 1 Tf 0 Tc 16.726 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.417 0 Td (\(772\))Tj 0 Tc 0 Tw 7.102 0 Td (\226)Tj 6.105 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.672 0 Td (\(772\))Tj 0 Tc 0 Tw 7.538 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.672 0 Td (\(772\))Tj /T1_0 1 Tf 0 Tw -72.204 -1.231 Td (Exchange difference on )Tj 0.654 -1.231 Td (translation of foreign )Tj -0.025 Tw 0 -1.231 Td (operations)Tj /T1_1 1 Tf 0 Tc 0 Tw 16.726 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 7.85 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.819 0 Td (3,578)Tj 0 Tc 0 Tw 7.955 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.255 0 Td (3,578)Tj 6.105 0 Td (2,812)Tj 6.105 0 Td (6,390)Tj ET q 1 0 0 1 144.5671 317.5773 cm 0 0 m 28.346 0 l S Q BT /T1_0 1 Tf 0 Tc 0 Tw 6.5 0 0 13 144.5671 318.9783 Tm ( )Tj ET q 1 0 0 1 178.5829 317.5773 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 178.5829 318.9783 Tm ( )Tj ET q 1 0 0 1 218.2679 317.5773 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 218.2679 318.9783 Tm ( )Tj ET q 1 0 0 1 257.9529 317.5773 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 257.9529 318.9783 Tm ( )Tj ET q 1 0 0 1 297.638 317.5773 cm 0 0 m 45.354 0 l S Q BT 6.5 0 0 13 339.4173 318.9783 Tm ( )Tj ET q 1 0 0 1 348.6616 317.5773 cm 0 0 m 31.181 0 l S Q BT 6.5 0 0 13 348.6616 318.9783 Tm ( )Tj ET q 1 0 0 1 385.512 317.5773 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 385.512 318.9783 Tm ( )Tj ET q 1 0 0 1 425.1971 317.5773 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 425.1971 318.9783 Tm ( )Tj ET q 1 0 0 1 464.8821 317.5773 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 464.8821 318.9783 Tm ( )Tj ET q 1 0 0 1 504.5671 317.5773 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 504.5671 318.9783 Tm ( )Tj 0.025 Tc -68.904 -2.462 Td (Total comprehensive )Tj -0.025 Tw 0.654 -1.231 Td (\(losses\))Tj /C0_0 1 Tf 0 Tc 0 Tw <014A>Tj /T1_0 1 Tf 0.025 Tc 4.28 0 Td (income for the )Tj -0.025 Tw -4.28 -1.231 Td (period)Tj /T1_1 1 Tf 0 Tc 0 Tw 16.726 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.417 0 Td (\(772\))Tj 5.252 0 Td (3,578)Tj 5.055 0 Td (286,280)Tj 6.105 0 Td (289,086)Tj 6.63 0 Td (45,314)Tj 5.58 0 Td (334,400)Tj /T1_0 1 Tf 0 Tw -70.737 -1.231 Td (Appropriation to statutory )Tj 0.654 -1.231 Td (surplus reserve and other )Tj -0.025 Tw 0 -1.231 Td (reserve)Tj /T1_1 1 Tf 0 Tc 0 Tw 16.726 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.255 0 Td (3,821)Tj 0 Tc 0 Tw 9.7 0 Td (\226)Tj 5.669 0 Td (\226)Tj 6.105 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.255 0 Td (3,821)Tj 6.905 0 Td (142)Tj 5.305 0 Td (3,963)Tj /T1_0 1 Tf 0 Tw -71.787 -1.231 Td (Final 2025 dividends declared )Tj 6.5 0 3.4833 13 60.9452 174.9783 Tm (\(Note 8\))Tj /T1_1 1 Tf 0 Tc 6.5 0 0 13 169.6637 174.9783 Tm (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 7.85 0 Td (\226)Tj 5.669 0 Td (\226)Tj 2.822 0 Td (\()Tj 0.025 Tc -0.025 Tw 0.358 0 Td (251,351)Tj 0 Tc 0 Tw (\))Tj 0.025 Tc -0.025 Tw 5.747 0 Td (\(2)Tj (51,351)Tj 0 Tc 0 Tw (\))Tj 9.388 0 Td (\226)Tj 2.822 0 Td (\()Tj 0.025 Tc -0.025 Tw 0.358 0 Td (251,351)Tj 0 Tc 0 Tw (\))Tj /T1_0 1 Tf 0.025 Tc -70.712 -1.231 Td (Dividend declared by )Tj 0.654 -1.231 Td (a subsidiary to its )Tj 0 -1.231 Td (non-controlling interests)Tj /T1_1 1 Tf 0 Tc 16.726 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 7.85 0 Td (\226)Tj 5.669 0 Td (\226)Tj 6.105 0 Td (\226)Tj 6.105 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.872 0 Td (\(1,470\))Tj 6.105 0 Td (\(1,470\))Tj ET q 1 0 0 1 144.5673 122.5683 cm 0 0 m 28.346 0 l S Q BT /T1_0 1 Tf 0 Tc 0 Tw 6.5 0 0 13 144.5673 123.9692 Tm ( )Tj ET q 1 0 0 1 178.583 122.5683 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 178.583 123.9692 Tm ( )Tj ET q 1 0 0 1 218.2681 122.5683 cm 0 0 m 34.016 0 l S Q BT 6.5 0 0 13 218.2681 123.9692 Tm ( )Tj ET 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Td (Other payables and accruals)Tj -0.025 Tw 13 0 3.4833 13 305.2317 191.6512 Tm (15)Tj /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 389.5008 191.6512 Tm (7)Tj 0.025 Tc -0.025 Tw 0.525 0 Td (62,911)Tj /T1_0 1 Tf 7.543 0 Td (655,145)Tj -33.668 -1.231 Td (Provisions)Tj 13 0 3.4833 13 305.2317 175.6512 Tm (16)Tj /T1_1 1 Tf 13 0 0 13 413.5508 175.6512 Tm (140)Tj /T1_0 1 Tf 8.068 0 Td (140)Tj 0 Tw -35.518 -1.231 Td (Interest-bearing bank borrowings and )Tj 0.654 -1.231 Td (other loans)Tj -0.025 Tw 13 0 3.4833 13 305.2317 143.6512 Tm (17)Tj /T1_1 1 Tf 13 0 0 13 379.1008 143.6512 Tm (1,865,)Tj (583)Tj /T1_0 1 Tf 8.068 0 Td (2,968,921)Tj 0 Tw -32.868 -1.231 Td (Income tax payable)Tj /T1_1 1 Tf -0.025 Tw 26.126 0 Td (25,247)Tj /T1_0 1 Tf 8.068 0 Td (11,716)Tj ET 0.5 w q 1 0 0 1 340.1575 123.2412 cm 0 0 m 93.543 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 426.5508 124.6421 Tm ( )Tj ET q 1 0 0 1 445.0394 123.2412 cm 0 0 m 93.543 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 124.6421 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -36.518 -2.462 Td (Total current liabilities)Tj -0.025 Tw 24.801 0 Td (4,)Tj (951,203)Tj /T1_0 1 Tf 8.068 0 Td (6,262,615)Tj ET 2.5 w q 1 0 0 1 340.1575 87.0777 cm 0 0 m 93.543 0 l S Q 0.835 w q 1 0 0 1 340.1575 83.7451 cm 0 0 m 93.543 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 426.5508 84.9786 Tm ( )Tj ET 2.5 w q 1 0 0 1 445.0394 87.0777 cm 0 0 m 93.543 0 l S Q 0.835 w q 1 0 0 1 445.0394 83.7451 cm 0 0 m 93.543 0 l S Q BT /T1_0 1 Tf 13 0 0 13 531.4327 84.9786 Tm ( )Tj ET endstreamendobj204 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 4 \226)Tj /T1_1 1 Tf 10.4 0 0 13 360.8041 770.8479 Tm (For the six months ended 30 June)Tj -0.025 Tw 4.934 -1.231 Td (2026)Tj /T1_0 1 Tf 10.085 0 Td (2025)Tj /T1_1 1 Tf -12.711 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 10.42 0 Td (Unaudited)Tj 10.4 0 3.4833 13 299.2428 722.8479 Tm (Notes)Tj /T1_1 1 Tf 8.484 0 Td (RMB\222000)Tj /T1_0 1 Tf 10.195 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 340.1575 718.4469 cm 0 0 m 93.543 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 334.4882 719.8479 Tm ( )Tj ET q 1 0 0 1 445.0394 718.4469 cm 0 0 m 93.543 0 l S Q BT 13 0 0 13 439.3701 719.8479 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 10.4 0 0 13 56.693 687.8479 Tm (Profit attributable to:)Tj /T1_0 1 Tf 0.818 -1.231 Td (Owners of the parent)Tj /T1_1 1 Tf -0.025 Tw 32.033 0 Td (286,280)Tj /T1_0 1 Tf 10.085 0 Td (283,696)Tj 0 Tw -42.118 -1.231 Td (Non-controlling interests)Tj /T1_1 1 Tf -0.025 Tw 32.558 0 Td (42,502)Tj /T1_0 1 Tf 10.085 0 Td (28,167)Tj ET q 1 0 0 1 340.1576 651.4379 cm 0 0 m 93.543 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 334.4883 652.8389 Tm ( )Tj ET q 1 0 0 1 445.0395 651.4379 cm 0 0 m 93.543 0 l S Q BT /T1_0 1 Tf 13 0 0 13 439.3702 652.8389 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10.4 0 0 13 398.341 620.8389 Tm (328,782)Tj /T1_0 1 Tf 10.085 0 Td (311,863)Tj ET 2.5 w q 1 0 0 1 340.1577 615.2743 cm 0 0 m 93.543 0 l S Q 0.835 w q 1 0 0 1 340.1577 611.9418 cm 0 0 m 93.543 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 334.4884 613.1753 Tm ( )Tj ET 2.5 w q 1 0 0 1 445.0396 615.2743 cm 0 0 m 93.543 0 l S Q 0.835 w q 1 0 0 1 445.0396 611.9418 cm 0 0 m 93.543 0 l S Q BT /T1_0 1 Tf 13 0 0 13 439.3703 613.1753 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 10.4 0 0 13 56.6931 581.1753 Tm (Total comprehensive income )Tj 0 Tc 10.4 0 0 13 193.4098 581.1753 Tm ( )Tj 0.025 Tc 10.4 0 0 13 65.1971 565.1753 Tm (attributable to:)Tj /T1_0 1 Tf 0 -1.231 Td (Owners of the parent)Tj /T1_1 1 Tf -0.025 Tw 32.033 0 Td (289,086)Tj /T1_0 1 Tf 10.085 0 Td (284,210)Tj 0 Tw -42.118 -1.231 Td (Non-controlling interests)Tj /T1_1 1 Tf -0.025 Tw 32.558 0 Td (45,314)Tj /T1_0 1 Tf 10.085 0 Td (28,811)Tj ET 0.5 w q 1 0 0 1 340.1578 528.7653 cm 0 0 m 93.543 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 334.4885 530.1663 Tm ( )Tj ET q 1 0 0 1 445.0397 528.7653 cm 0 0 m 93.543 0 l S Q BT /T1_0 1 Tf 13 0 0 13 439.3704 530.1663 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10.4 0 0 13 398.3412 498.1663 Tm (334,400)Tj /T1_0 1 Tf 10.085 0 Td (313,021)Tj ET 2.5 w q 1 0 0 1 340.1579 492.6017 cm 0 0 m 93.543 0 l S Q 0.835 w q 1 0 0 1 340.1579 489.2692 cm 0 0 m 93.543 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 334.4886 490.5027 Tm ( )Tj ET 2.5 w q 1 0 0 1 445.0398 492.6017 cm 0 0 m 93.543 0 l S Q 0.835 w q 1 0 0 1 445.0397 489.2692 cm 0 0 m 93.543 0 l S Q BT /T1_0 1 Tf 13 0 0 13 439.3705 490.5027 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 10.4 0 0 13 56.6933 458.5027 Tm (EARNINGS PER SHARE ATTRIBUTABLE TO )Tj 0.818 -1.231 Td (ORDINARY EQUITY HOLDERS OF THE )Tj -0.025 Tw 0 -1.231 Td (PARENT)Tj /T1_0 1 Tf 0 Tw -0.818 -2.462 Td (Basic and diluted)Tj 0 Tc 10.4 0 3.4833 13 309.2947 394.5027 Tm (9)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10.4 0 0 13 389.6786 394.5027 Tm (RM)Tj 0 Tc 0 Tw (B)Tj 0.025 Tc -0.025 Tw 2.408 0 Td (0.10)Tj /T1_0 1 Tf 7.787 0 Td (RM)Tj 0 Tc 0 Tw (B)Tj 0.025 Tc -0.025 Tw 2.298 0 Td (0.10)Tj ET 2.5 w q 1 0 0 1 340.1581 388.9381 cm 0 0 m 93.543 0 l S Q 0.835 w q 1 0 0 1 340.1581 385.6057 cm 0 0 m 93.543 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 334.4888 386.8391 Tm ( )Tj ET 2.5 w q 1 0 0 1 445.0399 388.9381 cm 0 0 m 93.543 0 l S Q 0.835 w q 1 0 0 1 445.0399 385.6057 cm 0 0 m 93.543 0 l S Q BT /T1_0 1 Tf 13 0 0 13 439.3706 386.8391 Tm ( )Tj ET endstreamendobj203 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 3 \226)Tj /T1_1 1 Tf 10.4 0 0 13 360.8041 770.8479 Tm (For the six months ended 30 June)Tj -0.025 Tw 4.934 -1.231 Td (2026)Tj /T1_0 1 Tf 10.085 0 Td (2025)Tj /T1_1 1 Tf -12.711 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 10.42 0 Td (Unaudited)Tj 10.4 0 3.4833 13 299.2428 722.8479 Tm (Notes)Tj /T1_1 1 Tf 8.484 0 Td (RMB\222000)Tj /T1_0 1 Tf 10.195 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 340.1575 718.4469 cm 0 0 m 93.543 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 334.4882 719.8479 Tm ( )Tj ET q 1 0 0 1 445.0394 718.4469 cm 0 0 m 93.543 0 l S Q BT 13 0 0 13 439.3701 719.8479 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 10.4 0 0 13 56.693 687.8479 Tm (OTHER COMPREHENSIVE INCOME)Tj /T1_0 1 Tf 0.023 Tc 0 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periods, net)Tj /T1_1 1 Tf -0.025 Tw 33.083 0 Td (6,390)Tj /T1_0 1 Tf 10.085 0 Td (1,464)Tj ET q 1 0 0 1 340.1578 552.4288 cm 0 0 m 93.543 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 334.4885 553.8298 Tm ( )Tj ET q 1 0 0 1 445.0397 552.4288 cm 0 0 m 93.543 0 l S Q BT /T1_0 1 Tf 13 0 0 13 439.3704 553.8298 Tm ( )Tj 0.025 Tc 10.4 0 0 13 56.6933 521.8298 Tm (Other comprehensive losses that will not be )Tj 0.818 -1.231 Td (reclassified to profit or loss in subsequent periods:)Tj 0.015 Tc 0 -1.231 Td (Equity investments designated at fair value through )Tj 0.818 -1.231 Td (other comprehensive income:)Tj 0.025 Tc 0 -1.231 Td (Changes in fair value)Tj /T1_1 1 Tf -0.025 Tw 32.682 0 Td (\(908\))Tj /T1_0 1 Tf 10.085 0 Td (\(360\))Tj 0 Tw -42.767 -1.231 Td (Income tax effect)Tj /T1_1 1 Tf -0.025 Tw 33.065 0 Td (136)Tj /T1_0 1 Tf 10.61 0 Td (54)Tj ET q 1 0 0 1 340.158 437.4197 cm 0 0 m 93.543 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 334.4887 438.8207 Tm ( )Tj ET q 1 0 0 1 445.0399 437.4197 cm 0 0 m 93.543 0 l S Q BT /T1_0 1 Tf 13 0 0 13 439.3706 438.8207 Tm ( )Tj 0.025 Tc 10.4 0 0 13 56.6934 406.8207 Tm (Other comprehensive losses that will not be )Tj 0.818 -1.231 Td (reclassified to profit or loss in subsequent periods, )Tj -0.025 Tw 0 -1.231 Td (net)Tj /T1_1 1 Tf 33.5 0 Td (\(772\))Tj /T1_0 1 Tf 10.085 0 Td (\(306\))Tj ET q 1 0 0 1 340.158 370.4107 cm 0 0 m 93.543 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 334.4887 371.8116 Tm ( )Tj ET q 1 0 0 1 445.0399 370.4107 cm 0 0 m 93.543 0 l S Q BT /T1_0 1 Tf 13 0 0 13 439.3706 371.8116 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 10.4 0 0 13 56.6935 339.8116 Tm (OTHER COMPREHENSIVE INCOM)Tj (E F)Tj -0.025 Tw (OR )Tj 0 Tw 0.818 -1.231 Td (THE PERIOD, NET OF TAX)Tj -0.025 Tw 33.083 0 Td (5,618)Tj /T1_0 1 Tf 10.085 0 Td (1,158)Tj ET 2.5 w q 1 0 0 1 340.1581 318.2471 cm 0 0 m 93.543 0 l S Q 0.835 w q 1 0 0 1 340.1581 314.9146 cm 0 0 m 93.543 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 334.4888 316.1481 Tm ( )Tj ET 2.5 w q 1 0 0 1 445.0399 318.2471 cm 0 0 m 93.543 0 l S Q 0.835 w q 1 0 0 1 445.0399 314.9146 cm 0 0 m 93.543 0 l S Q BT /T1_0 1 Tf 13 0 0 13 439.3706 316.1481 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 10.4 0 0 13 56.6935 284.1481 Tm (TOTAL COMPREHENSIVE INCOME )Tj 0 Tc 10.4 0 0 13 244.8582 284.1481 Tm ( )Tj 0.025 Tc 10.4 0 0 13 65.1974 268.1481 Tm (FOR THE PERIOD)Tj -0.025 Tw 32.033 0 Td (334,400)Tj /T1_0 1 Tf 10.085 0 Td (313,021)Tj ET 2.5 w q 1 0 0 1 340.1581 262.5836 cm 0 0 m 93.543 0 l S Q 0.835 w q 1 0 0 1 340.1581 259.2511 cm 0 0 m 93.543 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 334.4888 260.4846 Tm ( )Tj ET 2.5 w q 1 0 0 1 445.04 262.5836 cm 0 0 m 93.543 0 l S Q 0.835 w q 1 0 0 1 445.04 259.2511 cm 0 0 m 93.543 0 l S Q BT /T1_0 1 Tf 13 0 0 13 439.3707 260.4846 Tm ( )Tj ET endstreamendobj202 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 2 \226)Tj /T1_1 1 Tf 0.065 Tc 0.07 Tw 13 0 0 13 56.6929 776.0055 Tm [(INTERIM)12.3 ( CONDENSED)12.3 ( CONSOLIDATED)12.3 ( STATEMENT)12.3 ( OF)12.4 ( PROFIT)12.4 ( OR)40 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (LOSS AND OTHER COMPREHENSIVE INCOME)Tj /T1_0 1 Tf 0 -1.231 Td (For the six months ended 30 June 2026)Tj 13 0 3.4833 13 55.3588 728.0055 Tm (\(Amounts expressed in thousands of RMB unless otherwise stated\))Tj /T1_1 1 Tf 10.4 0 0 13 360.8041 696.0055 Tm (For the six months ended 30 June)Tj -0.025 Tw 4.934 -1.231 Td (2026)Tj /T1_0 1 Tf 10.085 0 Td (2025)Tj /T1_1 1 Tf -12.711 -1.231 Td (Unaudited)Tj /T1_0 1 Tf 10.42 0 Td (Unaudited)Tj 10.4 0 3.4833 13 299.2428 648.0055 Tm (Notes)Tj /T1_1 1 Tf 8.484 0 Td (RMB\222000)Tj /T1_0 1 Tf 10.195 0 Td (RMB\222000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 340.1575 643.5955 cm 0 0 m 93.543 0 l S Q BT 0 Tc 0 Tw 13 0 0 13 334.4882 644.9965 Tm ( )Tj ET q 1 0 0 1 445.0394 643.5955 cm 0 0 m 93.543 0 l S Q BT 13 0 0 13 439.3701 644.9965 Tm ( )Tj 0.025 Tc -0.025 Tw 10.4 0 0 13 56.693 612.9965 Tm (Revenue)Tj 0 Tc 0 Tw 10.4 0 3.4833 13 309.2943 612.9965 Tm (4)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10.4 0 0 13 390.0209 612.9965 Tm (2,259,374)Tj /T1_0 1 Tf 10.085 0 Td (2,407,847)Tj 0 Tw -42.136 -1.231 Td (Cost of sales)Tj /T1_1 1 Tf -0.025 Tw 31.668 0 Td (\(1,721,462\))Tj /T1_0 1 Tf 10.085 0 Td (\(1,899,660\))Tj ET q 1 0 0 1 340.1576 592.5864 cm 0 0 m 93.543 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 13 0 0 13 334.4883 593.9874 Tm ( )Tj ET q 1 0 0 1 445.0394 592.5864 cm 0 0 m 93.543 0 l S Q BT /T1_0 1 Tf 13 0 0 13 439.3701 593.9874 Tm ( )Tj 0.025 Tc 10.4 0 0 13 56.693 561.9874 Tm (Gross profit)Tj /T1_1 1 Tf -0.025 Tw 32.851 0 Td (537,912)Tj /T1_0 1 Tf 10.085 0 Td (508,187)Tj 0 Tw -42.936 -1.231 Td (Selling and distribution expenses)Tj /T1_1 1 Tf -0.025 Tw 33.518 0 Td (\(6,066\))Tj /T1_0 1 Tf 0 Tc 0 Tw 10.085 0 Td (\()Tj 0.025 Tc -0.025 Tw 0.358 0 Td (5,804)Tj 0 Tc 0 Tw (\))Tj 0.025 Tc -43.961 -1.231 Td (Administrative expenses)Tj /T1_1 1 Tf -0.025 Tw 32.468 0 Td (\(195,988\))Tj /T1_0 1 Tf 0 Tc 0 Tw 10.085 0 Td (\()Tj 0.025 Tc -0.025 Tw 0.358 0 Td (163,836)Tj 0 Tc 0 Tw (\))Tj 0.025 Tc -42.911 -1.231 Td 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