Earnings release
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 1 / 55 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 兗礦能源集團股份有限公司 YANKUANG ENERGY GROUP COMPANY LIMITED* (A joint stock limited company incorporated in the People’s Republic of Ch ina (“ PRC ”) with limited liability) (Stock Code: 01171) RESULTS REPORT FOR THE THIRD QUARTER OF 202 5 IMPORTANT NOTICE This announcement is made pursuant to Part XIVA of the Securities and Futures Ordinance and the disclosure requirement under Rule 13.09(2)(a) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Hong Kong Stock Exchange ”). The board (the “Board”) of directors (the “Directors”), the Directors and the senior management of Yankuan g Energy Group Company Limited (“ Yankuang Energy ” or “ the Company ” or “ Company ”) confirm that this report does not contain any misrepresentations, misleading statements or material omissions and accept all responsibilities for the authenticity, accuracy an d completeness of the information contained in this report. Mr. Li Wei, Chairman of the Board, Mr. Zhao Zhiguo, Chief Financial Officer, and Mr. Guo Hui, Head of Finance Management Department, hereby warrant the authenticity, accuracy and completeness of the financial statements contained in this results report. The financial statements in this results report have not been audited. “Reporting Period” means the period from 1 July 2025 to 30 September 202 5 .
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 2 / 55 “The Group” means the Company and its subsidiari es. Unless the context otherwise requires, “Yuan” in this quarterly report refers to Renminbi Yuan, the lawful currency of the PRC. The data in this report have been rounded, and the increase or decrease is calculated from the original data before rounding. The total figures shown in the relevant tables of this report may not be the arithmetic sum of the relevant data and any differences are due to rounding. Summary of the unaudited results of the Group for the third quarter ended 30 September 20 2 5 is set out as follows: This report is prepared in accordance with the relevant regulations on Disclosure of Information in Quarterly Reports for Listed Companies promulgated by the Shanghai Stock Exchange ( the “ SSE ” ) . All financial information contained in this report is prepared in accordance with the relevant requirements and interpretations under the Accounting Standards for Business Enterprises promulgated by the Ministry of Finance of the PRC. Shareholders of the Company (the “ S hareholders ”) and public investors are reminded of the different reporting standards adopted in this report, the interim report and the annual report of the Company when trading in the shares of the Company. For the first three quarters of 202 5 , the opera ting income of the Group was RMB104.957 billion, representing a decrease of RMB13.830 billion or 11.64% as compared with the corresponding period of the previous year. Net profit attributable to the shareholders of listed company was RMB7.120 billion, repr esenting a decrease of RMB4.581 billion or 39.15% as compared with the corresponding period of the previous year. The content of the report is consistent with the announcement published on the SSE. This announcement is published simultaneously in the Hong Kong Stock Exchange and the SSE.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 3 / 55 I . MAJOR FINANCIAL DATA ( I ) Major Financial Data and Financial Indicators Unit: RMB’000 Items The Reporting Period The corresponding period of the previous year Increase/decrease during the Reporting Period as compared with the corresponding period of the previous year (%) At the beginning of the year and up to the end of the Reporting Period The corresponding period of the previous year Increase/decrease from the beginning of the year and up to the end of the Reporting Period as compared with the co rresponding period of the previous year (%) Before adjustments After adjustments After adjustments Before adjustments After adjustments After adjustments Operating income 38,258,794 34,321,200 38,359,667 - 0.26 104,957,463 106,632,780 118,787,801 - 11.64 Total profit 4,592,004 7,082,143 6,637,399 - 30.82 13,781,699 20,971,012 22,269,239 - 38.11
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 4 / 55 Net profit attributable to the shareholders of listed company 2,288,060 3,836,833 3,608,954 - 36.60 7,119,974 11,405,151 11,701,355 - 39.15 Net profit attributable to the shareholders of listed company after deducting extraordinary profits and losses 2,089,229 3,752,254 3,752,254 - 44.32 6,519,018 11,050,639 11,050,639 - 41.01 Net cash flows from operating activities N/A N/A N/A N/A 19,600,045 18,228,358 22,315,569 - 12.17 Basic earnings per share (RMB) 0.23 0.38 0.36 - 36.58 0.71 1.36 1.40 - 49.46 Diluted earnings per share (RMB) 0.23 0.38 0.36 - 36.47 0.71 1.36 1.39 - 49.31 Weighted average return on net assets (%) 2.99 4.82 4.39 Decrease of 1.40 percentage points 8.33 14.75 14.20 Decrease of 5.87 percentage points
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 5 / 55 At the end of the Reporting Period At the end of the previous year Increase/decrease at the end of the Reporting Period as compared with that at the end of the previous year (%) Before adjustments After adjustments After adjustments Total assets 431,900,381 358,554,471 411,221,517 5.03 Owners’ equity attributable to the shareholders of the listed company 77,059,525 82,594,456 87,495,421 - 11.93 Notes ： 1. Reasons for retroactive adjustments or restatement During the Reporting Period , the Company consolidated the financial statements of Shandong Energy Group Xibei Mining Co., Ltd.* ( 山東能源集團西北礦業有 限公司 ) (“Xibei Mining”). This event constituted a business merger under common control in accordance with the CASs, and the Company made retroactive adjustments to relevant financial data. II. Other matters: (1) During the first three quarters of 2025, the Company consolidated the financial statements of Xibei Mining and Yankuang Energ y (Holin Gol) Company Limited, and will no longer consolidate the financial statement of Shandong Zhongding Yunlian Technology Co., Ltd.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 6 / 55 （ 2 ） Shandong Energy Group Finance Co., Ltd. (“Shandong Energy Finance Company”) provided external financial services such as depo sits and loans, which impacted the changes in the Group's cash flow from operating activities. Excluding the effec t of Shandong Energy Finance Company on cash flow from operating activities, the Group's net cash flow from operating activities for the first three quarters of 2025 amounted to RM B12.108 billion, compared with RMB26.340 billion for the same period last ye ar, representing a decrease of RMB14.232 billion or 54.0%, primarily attributable to: ① a year - on - year decrease of RMB21.054 billion in cash received from sales of goods and provision of services; ② a year - on - year decrease of RMB1.737 billion in cash paid for purchases of goods and services received; ③ a year - on - year decrease of RMB8.147 billion in cash paid for other operating activities. （ 3 ） As of 30 September 2025, the Company completed the repurchase and cancellation of a portion of its restricted shar es, and the Company’s total share capital was adjusted from 10,039,860,402 shares to 10,037,480,544 shares. Basic earnings per share, diluted earnings per share and ot her related indicators were calculated based on the weighted average number of ordinary s hares outstanding.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 7 / 55 (II) Extraordinary Profit and Loss Items and Amounts Unit: RMB’000 Extraordinary Profit and Loss Items Amount for the current period Amount for the period from the beginning of the year to the end of the Rep orting Period Profit and loss on disposals of non - current assets, including the write - off portion for the assets impairment provision 504,297 814,711 Government grants recognized as current profit or loss, except those grants which are closely related to the Company’s business operations and in line with national policies and can be enjoyed according to certain standard quota or quantities and continuously influence the Company’s profit and loss 55,620 150,275 Except effective hedging busines ses that relate to the Company's normal business operations, profit or loss from fair value changes arising from the holding of financial assets and financial liabilities by non - financial enterprises and profit and loss arising from the disposal financial assets and financial liabilities by the non - financial enterprises 14,094 162,494 Profit or loss from external entrusted loans 0 359 Allowance for impairment reversal of receivables tested separately for impairment 0 73 Profit arising from investment costs for acquisition of subsidiaries, associates and joint ventures less than the revenue generated from their identifiable net assets 0 9,926
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 8 / 55 of the invested entity at fair value at the time of acquisition Profit or loss of subsidiaries from the beginning of the year to the consolidation date arising from business combination under common control 0 569,979 Profit or loss from debt restructuring 351 351 Other non - operating income and expenses excluding the above - mentioned items 83,729 105,324 Less: Effect of income tax 147,039 314,169 Effect of the equity interest of minority shareholders (after tax) 312,221 898,367 Total 198,831 600,956 Deliberation on items identified by the Company as extraordinary profit and loss of huge amount, which were not included in “No.1 Announcement on Interpretation of Information Disclosure of Companies that Publicly Issued Securities — Extraordinary Profit and Loss” and the extraordinary profit and loss items included in “No.1 Announcement on Interpretation of Information Disclosure of Companies that Publicly Issued Securities — Extraordinary Profit and Loss” but identified by the Company as recurrent profit and loss. Not applicable.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 9 / 55 (Ⅲ) Major Changes in Financ ial Data and Financial Indicators and the Reasons 1. Deliberation on significant changes in main financial statement items and financial indicators Items Percentage Change (%) Main Reasons Total profit – the Reporting Period - 30.82 As affected by the price of coal and other main products of the Company decreased as compared with that of the same period of the previous year. Net profit attributable to the shareholders of listed company – the Reporting Period - 36.60 Net profit attributable to the shareholders of listed company after deducting extraordinary profits and losses – the Reporting Period - 44.32 Total profit - the beginning of the year to the end of the Reporting Period - 38.11 Net profit attributable to the shareholders of listed comp any - the beginning of the year to the end of the Reporting Period - 39.15 Net profit attributable to the shareholders of listed company after deducting extraordinary profits and losses - the beginning of the year to the end of the Reporting Period - 41.01 Basic earnings per share – the Reporting Period - 36.58 Diluted earnings per share – the Reporting Period - 36.47 Basic earnings per share - the beginning of the year to the end of the Reporting Period - 49.46 Diluted earnings per share - the beginning of the year to the end of the Reporting Period - 49.31
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 10 / 55 2. Deliberation on significant changes in other items of the financial statements of the Company Unit: RMB million Consolidated balance sheet As at 30 September 2025 As at 31 December 2024 Increase/ decrease （ % ） Main reasons Prepayments 9,301 4,784 94.43 The advance payments to suppliers for the trade business of the Group have increased as compared to the beginning of the year. Other receivables 5,870 3,996 46.89 The Group paid deposits of RMB2.0 billion externally. Non - current assets due within one year 2,623 4,619 - 43.20 The loans and advances released by Shandong Energy Finance Company decreased as compared to the beginning of the year. Short - term borrowings 24,687 8,893 177.61 The Group had additional short - term borrowings in the Reporting Period. Contract liabilities 9,873 5,188 90.31 The advance receipts from customers for the trade business of the Group have increased as compared to the be ginning of the year. Long - term payable 14,489 10,834 33.74 The payables for mining rights increased as compared with the beginning of the year. Capital reserves - 626 7,387 - 108.47 The difference between the carrying amount of the net assets acquired by the Group in Xibei Mining and the fair value paid shall deduct the capital reserves. Consolidated income statement First three quarters of 2025 First three quarters of 2024 Increase/ decrease （ % ） Main reasons Income tax expenses 2,640 4,834 - 45.39 The Group's taxable income decreased as compared with the same period of the previous year.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 11 / 55 Consolidated cash flow statement First three quarters of 2025 First three quarters of 2024 Increase/ decrease （ % ） Main reasons Net cash flow from financing activities - 6,963 2,040 - 441.27 ① Increase in cash received from acquiring borrowings by RMB10.545 billion as compared with the same period of the previous year ； ② Increase in cash paid for repayment of debts of RMB20.325 billion.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 12 / 55 II . INFORMATION ON SHAREHOLDERS （ I ） The total number of ordinary shareholders, the number of preferred shareholders whose voting rights have been restored, and the shareholdings of the top ten shareholders Unit: Share Total number of ordinary shareholders at the end of the Reporting Period 134,248 Total number of preferred shareholders with voting rights restored at the end of the Reporting Period (if any) 0 Shareholdings of the top 10 shareholders (excluding the refinancing shares) Name of shareholders Nature of shareholders Number of shares held Shareholding percentage (%) Number of shares held subject to trading moratorium Number of pledged, marked or locked shares Status of shares Number of shares Shandong Energy Group Co., Ltd. ① State - owned legal person 5,303,899,421 52.84 0 Pledged 302,232,142 HKSCC Nominees Limited Overseas legal person 3,161,877,908 31.50 0 Unknow n - Hong Kong Securities Clearing Company Limited Overseas legal person 75,089,690 0.75 0 No 0 Industrial and Commercial Bank of China Co., Ltd. - GT China Securities Coal Tradable Open Index Securities Investment Fund Others 70,867,824 0.71 0 No 0
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 13 / 55 Industrial and Commercial Bank of China Co., Ltd. - Huatai PineBridge Shanghai and Shenzhen 300 Tradable Open Index Securities Investment Fund Others 30,512,579 0.30 0 No 0 China Merchants Bank Co., Ltd. - SSE Dividend Tradable Open Index Securities Investment Fund Others 28,003,856 0.28 0 No 0 China Construction Bank Corporation － E - Fund CSI 300 Exchange Traded Open - Ended Index Initiated Securities Investment Fund Others 22,012,350 0.22 0 No 0 Foresea Life Insurance Company Limited – Participating Insurance Products Others 19,374,824 0.19 0 No 0
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 14 / 55 Industrial and Commercial Bank of China Co., Ltd. - Invesco Great Wall Jingsheng Double - Interest Income Bond Securities Investment Fund Others 16,956,110 0.17 0 No 0 Industrial and Commercial Bank of China Co., Ltd. - ChinaAMC CSI 300 Exchange Traded Open - End Index Securities Investment Fund Others 16,426,598 0.16 0 No 0 Top 10 Shareholders holding tradable shares not subject to trading moratorium (excluding the refinancing shares) Name of Shareholders Number of tradable shares held not subject to trading moratorium Class and number of shares held Class of shares Number of shares Shandong Energy Group Co., Ltd. 4,395,142,871 A Shares 4,395,142,871 908,756,550 H Shares 908,756,550 HK SCC Nominees Limited 3,161,877,908 H Shares 3,161,877,908 Hong Kong Securities Clearing Company Limited 75,089,690 A Shares 75,089,690
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 15 / 55 Industrial and Commercial Bank of China Co., Ltd. - GT China Securities Coal Tradable Open Index Securities Investment Fund 70,867,824 A Shares 70,867,824 Industrial and Commercial Bank of China Co., Ltd. - Huatai PineBridge Shanghai and Shenzhen 300 Tradable Open Index Securities Investment Fund 30,512,579 A Shares 30,512,579 China Merchants Bank Co., Ltd. - SSE Dividend Tradable Open Index Securities Investment Fund 28,003,856 A Shares 28,003,856 China Construction Bank Corporation － E - Fund CSI 300 Exchange Traded Open - Ended Index Initiated Securities Investment Fund 22,012,350 A Shares 22,012,350
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 16 / 55 Foresea Life Insurance Company Limited – Participating Insurance Products 19,374,824 A Shares 19,374,824 Industrial and Commercial Bank of China Co., Ltd. - Invesco Great Wall Jingsheng Double - Interest Income Bond Securities Investment Fund 16,956,110 A Shares 16,956,110 Industrial and Commercial Bank of China Co., Ltd. - ChinaAMC CSI 300 Exchange Traded Open - End Index Securities Investment Fund 16,426,598 A Shares 16,426,598 Related relationship or concerted action among the above Shareholders Huatai - PineBridge Investments Co., Ltd., serves as the fund management entity for both China Merchants Bank Co., Ltd. - SSE Dividend Tradable Open Index Securities Investment Fund and Industrial and Commercial Bank of China Co., Ltd. - Hu atai PineBridge Shanghai and Shenzhen 300 Tradable Open Index Securities Investment Fund. Save as disclosed above, it is unknown whether other shareholders are related with one another or whether any of these shareholders fall within the meaning of parties acting in concert.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 17 / 55 Description of the top 10 shareholders and the top 10 shareholders holding tradable shares participating in securities margin trading and refinancing business (if any) Not applicable.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 18 / 55 Notes ： ① As at 30 September 2025, Shandong Energy Group Co., Ltd. (“Shandong Energy”) directly and indirectly held a total of 5,303,899,421 shares of the Company, accounting for 52.84% of the total share capital of the Company, of which; (i) 4,395,142,871 A Shares of the Company were held through its own account; (ii) 606,524,408 H Shares of the Company were held through the own account of Yankuang Group (Hong Kong) Company Limited (“Yankuang Hong Kong”); and (iii) 302,232,142 H Shares of the Company held through Yankuang Hong Kong’s specia l corporate pledged account. ② During the Reporting Period, due to the adjustment of the exchange price of convertible bonds, the number of H Shares held by Shandong Energy through Yankuang Hong Kong’s special corporate pledged accounts increased to 302,2 32,142 shares. ③ All the information above, including “Total number of ordinary shareholders at the end of the Reporting Period” and “Shareholdings of the top 10 shareholders” and “Top 10 Shareholders holding tradable shares not subject to trading moratorium”, is prepared in accordance with the registers of the Shareholders provided by the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. and Computershare Hong Kong Inv estor Services Limited. ④ As the clearing and settlement agent for the Company’s H Shares, Hong Kong Securities Clearing Company (Nominees) Limited holds the Company’s H Shares in the capacity of a nominee. Hong Kong Securities Clearing Company Limited is the nominal holder of the Company’s Shanghai Stock connected shares.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 19 / 55 Shareholders with over 5% shares of the Company, the top ten shareholders and the top ten shareholders holding tradable shares participating in refinancing business and lending share s Not applicable. Changes of top ten shareholders and top ten shareholders of whose without selling restrictions from the previous period due to lending/returning of shares through refinancing Not applicable. (II) Major Shareholders’ Interests and/or S hort Positions in the Shares and/or Underlying Shares of the Company As far as the Directors are aware, save as disclosed below, as at 30 September 202 5 , other than the Directors or Chief Executives of the Company, there were no other persons who were maj or shareholders of the Company or had interests or short positions in the shares or underlying shares of the Company, which should (i) be disclosed pursuant to Sections 2 and 3 under Part XV of the Securities and Futures Ordinance; (ii) be recorded in the register to be kept pursuant to Section 336 of the Securities and Futures Ordinance; or (iii) notify the Company and the Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”) in other ways. Name of substantial Shareholders Class of shares Capacity Number of shares held (shares) Nature of interest Percentage in the H Share capital of the Company Percentage in total issued share capital of the Company Shandong Energy A Shares (state - owned legal person shares) Beneficial owner 4,395,142,871 Long position – 43.79% Shandong Energy ① H Shares Interest of controlled legal entities 908,756,550 Long position 22.30% 9.05% 302,232,142 Short position 7.42% 3.01%
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 20 / 55 Notes: ① Yankuang Hong Kong holds such H Shares in the capacity of a beneficial owner. ② The percentage figures above have been rounded off to the nearest second decimal place. ③ Information disclosed above is based on the information available on the website of the Hong Kong Stock Exchange at http://www.hkexnews.hk and information provided by China Securities Depository and Clearing Corporation Limited Shanghai Branch.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 21 / 55 III. OTHER REMINDERS Other important information about the operation of the Company that investors should be reminded of during the Reporting Period. General Operating Performance （ I ） Overview of Operational Data of Main Products and Services Items July - September January - September 2025 2024 Increase/ decrease (%) 2025 2024 Increase/ decrease (%) 1. Coal business (kiloton) Saleable coal production volume 46,030 43,873 4.92 135,890 127,074 6.94 Saleable coal sales volume 46,119 41,634 10.77 126,435 123,188 2.64 2. Coal chemicals business (kiloton) Chemical products production volume 2,421 2,227 8.69 7,346 6,585 11.55 Chemical products sales volume 2,092 1,997 4.74 6,440 5,923 8.73 3. Power generation business (10,000 kWh) Electricity generated 211,906 210,579 0.63 571,491 602,012 - 5.07 Electricity sold 172,376 192,593 - 10.50 463,361 519,526 - 10.81 Note: In the first three quarters of 2025, the production volume of saleable coal of the Group amounted to 135.89 million tons, while the sales volume of saleable coal were 126.43 million tons. Among them, the sales volume of self - produced saleable coal was 122.35 million tons. The difference of 13.54 million tons between the production volume and sales volume of self - produced saleable coal was mainly due to the internal cons umption by chemical and electricity businesses of 11.49 million tons, and an increase in inventory of 2.05 million tons at the end of three quarters compared to the beginning of the year.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 22 / 55 （ II ） Operating Performance of the Main Businesses of the Group by Segments 1. Coal business (1) Coal production In the first three quarters of 202 5 , the Group produced 135.89 million tons of salable coal, representing a n in crease of 8.82 million tons or 6.9 % as compared with the corresponding period of the previous year. The following table sets out the salable coal production of the Group for the first three quarters of 202 5 : Unit ： Kiloton Items July - September January - September 2025 2024 Increase/ Decrease (%) 2025 2024 Increase/ Decrease (%) 1. The Company 5,350 5,668 - 5.62 15,446 17,027 - 9.28 2. Heze Neng Hua ① 1,104 395 179.90 3,119 1,487 109.80 3. Luxi Mining ② 3,253 3,372 - 3.53 9,526 9,001 5.84 4 . Tianchi Energy ③ 331 240 37.58 957 866 10.51 5 . Xibei Mining 8,812 7,139 23.44 25,075 21,262 17.93 6. Future Energy ④ 4,704 4,811 - 2.22 14,037 13,745 2.12 7. Ordos Company ⑤ 2,800 2,764 1.30 8,544 8,754 - 2.40 8. Haosheng Company ⑥ 2,116 1,599 32.35 6,192 4,469 38.55 9. Inner Mongolia Mining ⑦ 2,246 1,852 21.27 6,013 4,830 24.48 10.Xinjiang Neng Hua ⑧ 4,715 4,535 3.96 14,604 14,467 0.95 11.Yancoal Australia 9,258 10,179 - 9.04 28,162 27,177 3.62 12.Yancoal International ⑩ 1,340 1,319 1.62 4,215 3,990 5.63 Total 46,030 43,873 4.92 135,890 127,074 6.94
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 23 / 55 Notes: ① “Heze Neng Hua” refers to Yanmei Heze Neng Hua Company Limited. The year - on - year increase in salable coal production volume of Heze Neng Hua in the third quarter and the first three quarters was mainly due to: the commencement of operations at the Wanfu Co al Mine, a subsidiary of Heze Neng Hua, which affected the year - on - year increase in salable coal production of Heze Neng Hua . ② “Luxi Mining” refers to Shandong Energy Group Luxi Mining Company Limited. ③ “Tianchi Energy” refers to Shanxi Heshun Tianchi Energy Company Limited. The year - on - year increase in salable coal production volume of Tianchi Energy in the third quarter was mainly due to: the year - on - year increase in saleable coal production volume as a result of the elimination of geological conditions and production constraints. ④ “Future Energy” refers to Shaanxi Future Energy and Chemicals Co., Ltd. ⑤ “Ordos Company” refers to Yankuang Energy (Ordos) Company Limited. ⑥ “Haosheng Company” refers to I nner Mongolia Haosheng Coal Mining Company Limited. The year - on - year increase in salable coal production volume of Haosheng Company in the third quarter and the first three quarters was mainly due to: the year - on - year increase in saleable coal production v olume as a result of the elimination of geological conditions and production constraints. ⑦ “Inner Mongolia Mining” refers to Inner Mongolia Mining (Group) Co., Ltd. ⑧ “Xinjiang Neng Hua” refers to Yankuang Xinjiang Neng Hua Co., Ltd. ⑨ “Yancoal Australia” refers to Yancoal Australia Limited. ⑩ “Yancoal International” refers to Yancoal International (Holding) Company Limited.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 24 / 55 (2) Coal prices and marketing In the first three quarters of 202 5 , the Group sold 126.43 million tons of salable coal, representing a n in crease of 3.25 million tons or 2.6 % as compared with the corresponding period of the previous year. In the first three quarters of 202 5 , the Group realized a sales income of RMB 64.11 billion from the coal b usiness, representing a decrease of RMB 17.149 billion or 21.1 % as compared with that of the corresponding period of the previous year. The following table sets out the Group’s coal production and sales by coal types for the first three quarters of 202 5 : J anuary - September 2025 January - September 2024 Production volume Sales volume Sales price Sales income Production volume Sales volume Sales price Sales income ( kiloton ) ( kiloton ) (RMB /ton) (RMB million) ( kiloton ) ( kiloton ) (RMB /ton) (RMB million) I. The Company 15,446 14,325 586.99 8,409 17,027 15,748 784.70 12,358 No.1 clean coal 16 20 1,037.15 20 308 307 1,207.61 371 No.2 clean coal 3,751 3,677 823.01 3,027 4,549 4,692 1,172.27 5,500 No.3 clean coal 3,174 3,207 697.28 2,236 2,868 2,843 967.36 2,750 Sub - total of clean coal 6,941 6,904 765.22 5,283 7,725 7,842 1,099.37 8,621 Screened raw coal 8,505 7,421 421.17 3,126 9,302 7,906 472.59 3,736 II. Heze Neng Hua 3,119 2,840 929.17 2,639 1,487 1,063 1,383.62 1,470 No.2 clean coal 2,498 2,402 977.56 2,348 1,152 1,010 1,432.92 1,447 No.3 clean coal 60 232 908.07 210 - - - - Screened raw coal 562 207 391.30 81 334 53 441.34 23
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 25 / 55 III. Luxi Mining 9,526 10,165 763.85 7,765 9,001 8,106 1,112.90 9,021 Clean coal 6,674 7,291 911.21 6,643 6,478 5,700 1,410.63 8,040 Clean blended coal 2,851 2,874 390.07 1,121 2,523 2,406 407.64 981 IV. Tianchi Energy 957 955 378.20 361 866 891 538.67 480 Screened raw coal 957 955 378.20 361 866 891 538.67 480 V. Xibei Mining 25,075 24,319 408.32 9,930 21,262 20,596 540.84 11,139 Clean coal 9,939 9,707 514.22 4,991 8,948 8,885 668.52 5,940 Clean blended coal 15,135 14,612 337.96 4,938 12,314 11,711 443.97 5,199 VI. Future Energy 14,037 8,782 463.38 4,070 13,745 9,979 551.83 5,507 No.3 clean coal 1,514 845 487.46 412 1,640 1,029 668.97 688 Lump coal 3,359 3,237 505.56 1,636 2,774 2,691 682.59 1,837 Screened raw coal 9,164 4,701 430.00 2,021 9,331 6,260 476.39 2,982 VII. Ordos Company 8,544 6,130 367.80 2,255 8,754 6,033 418.69 2,526 Screened raw coal 8,544 6,130 367.80 2,255 8,754 6,033 418.69 2,526 VIII. Haosheng Company 6,192 4,634 401.88 1,862 4,469 4,478 542.71 2,430 Screened raw coal 6,192 4,634 401.88 1,862 4,469 4,478 542.71 2,430 IX. Inner Mongolia Mining 6,013 5,284 377.21 1,993 4,830 4,868 521.22 2,537 Screened raw coal 6,013 5,284 377.21 1,993 4,830 4,868 521.22 2,537
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 26 / 55 X. Xinjiang Neng Hua 14,604 13,588 122.53 1,665 14,467 13,936 141.40 1,971 Screened raw coal 14,604 13,588 122.53 1,665 14,467 13,936 141.40 1,971 XI. Yancoal Australia 28,162 27,275 670.98 18,301 27,177 27,249 838.21 22,840 Semi - hard coking coal - - - - 52 52 2,204.27 115 Semi - soft coking coal 2,595 2,514 840.98 2,114 1,967 1,973 1,413.98 2,789 PCI coal 1,973 1,910 1,017.48 1,944 1,361 1,365 1,456.16 1,987 Thermal coal 23,594 22,851 623.31 14,243 23,796 23,859 752.26 17,949 XII. Yancoal International 4,215 4,056 575.58 2,335 3,990 3,869 683.24 2,644 Thermal coal 4,215 4,056 575.58 2,335 3,990 3,869 683.24 2,644 Subtotal of self - produced coal 135,890 122,354 503.33 61,584 127,074 116,818 641.37 74,924 XIII. Traded coal - 4,081 619.05 2,526 - 6,370 994.67 6,336 Total 135,890 126,435 507.06 64,110 127,074 123,188 659.64 81,260 (3) Sales cost of coal The Group’s sales cost of coal for the first three quarters of 202 5 was RMB 41.256 billion, representing a de crease of RMB 3.839 billion or 8.5 % as compared with the corresponding period of the previous year; sales cost of self - produced coal was RMB319.29/ton, representing a decrease of RMB15.84/ton or 4.7%.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 27 / 55 The following table sets out the sales cost of coal by business entities: Total cost of sales Cost of sale s per ton January - September 2025 January - September 2024 Increase/ decrease Increase/ decrease January - September 2025 January - September 2024 Increase/ decrease Increase/ decrease ( RMB million ) ( RMB million ) ( RMB million ) (%) ( RMB/ton ) ( RMB/ton ) ( RMB/ton ) (%) The Company 5,775 6,732 - 957 - 14.22 374.49 385.89 - 11.39 - 2.95 Heze Neng Hua 1,854 1,028 826 80.37 607.83 779.27 - 171.44 - 22.00 Luxi Mining 4,776 4,312 464 10.77 469.88 531.95 - 62.07 - 11.67 Tianchi Energy 333 327 5 1.54 348.27 367.44 - 19.17 - 5.22 Xibei Mining 6,792 6,198 594 9.59 279.30 300.92 - 21.62 - 7.19 Future Energy 1,366 1,413 - 47 - 3.33 121.83 120.48 1.35 1.12 Ordos Company 909 1,410 - 501 - 35.52 143.94 187.69 - 43.75 - 23.31 Haosheng Company 1,307 1,420 - 113 - 7.97 216.40 317.02 - 100.62 - 31.74 Inner Mongolia Mining 1,419 1,278 141 11.04 234.64 262.48 - 27.84 - 10.61 Xinjiang Neng Hua 1,072 1,336 - 264 - 19.76 78.92 95.89 - 16.98 - 17.70 Yancoal Australia 14,110 14,823 - 713 - 4.81 517.32 543.98 - 26.66 - 4.90 Yancoal International 2,102 2,088 14 0.66 518.25 539.72 - 21.47 - 3.98 Traded Coal 2,190 5,947 - 3,757 - 63.17 536.66 933.63 - 396.97 - 42.52 Explanation for the changes of cost of coal sales per ton of Haosheng Company: The saleable coal production increased year - on - year, which affected the year - on - year decrease in cost of sales per ton.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 28 / 55 2. Coal chemicals business The following table sets o ut the Group’s coal chemicals business for the first three quarters of 202 5 : January - September 2025 January - September 2024 Production volume Sales volume Sales income Cost of sales Production volume Sales volume Sales income Cost of sales (kiloton) (kiloton) (RMB million) (RMB million) (kiloton) (kiloton) (RMB million) (RMB million) Methanol 3,374 3,214 5,788 4,077 3,271 3,146 5,777 4,770 Acetic acid 806 574 1,240 1,109 772 544 1,455 1,277 Ethyl acetate 187 188 856 862 226 224 1,175 1,106 Caprolactam 272 264 2,176 2,197 241 236 2,674 2,428 Polyformaldehyde 54 50 375 428 47 47 465 425 Crude liquid wax ① - - - - 287 287 1,797 878 Full range liquid paraffin ① 340 341 1,975 748 - - - - Naphtha 188 188 1,220 414 173 172 1,153 526 Ethylene glycol 307 306 1,188 533 285 286 1,100 809 Urea ② 728 671 982 849 503 460 872 616 Others 1,091 643 2,725 2,430 781 521 2,663 2,382 Total 7,346 6,440 18,526 13,645 6,585 5,923 19,130 15,217 Notes: ① The year - on - year increase and decrease in the production volume, sales volume, sales income and cost of sales of crude liquid wax and full range liquid paraffin were mainly due to that Future Energy actively responded to changes in the market environment, carried out flexible production, and continuously optimised the product structure, which af fected the changes in the output and sales volume of its chemical products. ② The year - on - year increase in the production volume, sales volume and cost of sales of urea in the first three quarters, mainly due to: Yankuang Lunan Chemicals Co., Ltd. ("Lunan Ch emicals") began production 400,000 tons of urea per year in the second quarter of 2024.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 29 / 55 3. Power business The following table sets out the operation of the Group’s power business for the first three quarters of 202 5 : January - September 2025 January - September 2024 Power generation Power sold Sales income Cost of sales Power generation Power sold Sales income Cost of sales (10,000KWh) (10,000KWh) (RMB million) (RMB million) (10,000KWh) (10,000KWh) (RMB million) (RMB million) I. Jining No.3 Power ① 56,884 48,538 190 156 98,449 88,108 377 256 II. Heze Neng Hua 125,373 109,979 425 321 117,184 103,773 427 366 III. Lunan Chemicals 23,895 15,124 51 38 13,564 13,564 27 22 IV . Yulin Neng Hua ② 7,699 6,887 17 17 11,567 8,899 22 22 V. Future Energy 80,453 24,940 74 89 66,665 19,934 59 84 VI. Inner Mongolia Mining 277,186 257,893 1,017 773 294,583 285,248 996 942 Total 571,491 463,361 1,774 1,393 602,012 519,526 1,907 1,692 Notes: ① Jining No.3 Power refers to Shandong Yankuang Jining No.3 Power Co., Ltd. ② Yulin Neng Hua refers to Yanzhou Coal Yulin Neng Hua Company Limited . (III) Other matters Implement ation of Profit Distribution Proposal for Half Year of 2025 As reviewed and approved at the eighteenth meeting of the ninth session of the Board of the Company held on 29 August 2025, the Company will distribute a cash dividend of RMB0.18 per Share (tax inclusive) for the half year of 2025 to all shareholders of the C ompany based on the total number of share capital on the record date for dividend distribution. For details, please refer to the announcement on the resolutions of the eighteenth meeting of the ninth session of the Board dated 29 August 2025, the announce ment on the profit distribution proposal for half year, and the announcement on the implementation of 2025 interim equity distribution dated 5 September 2025. Such information was published on the websites of the
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 30 / 55 Shanghai Stock Exchange (the "SSE"), the Ho ng Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. Approval for implementation of share repurchase and the adjustment of maximum repurchase price of A Shares Upon consideration and approval at the eighteenth meeting of the ninth session of the Board convened on 29 August 2025, it was resolved that pursuant to the general mandate granted at the 2024 Annual General Meeting, authorised persons shall handle specific mat ters concerning the repurchase of H Shares within the scope of the Board resolution. The total amount of funds of the repurchase shall not be less than RMB150 million nor exceed RMB400 million. The repurchase price shall not exceed 105% of the average clos ing price of H Shares of the Company on the Hong Kong Stock Exchange over the five trading days prior to the repurchase. Upon consideration and approval at the eighteenth meeting of the ninth session of the Board convened on 29 August 2025, the Company pa ssed the “Proposal on the Repurchase of A Shares of the Company”. The repurchased A shares will be held as treasury shares for the share incentive schemes of the Company for a term of three years. The aforementioned shares shall be cancelled if they have n ever been used as share incentives within three years. The total amount of funds of the repurchase shall not be less than RMB50 million nor exceed RMB100 million, with the repurchase price not exceeding RMB17.08 per share. Due to the Company's implementati on of the 2025 interim profit distribution, the maximum repurchase price for A Shares was adjusted from not exceeding RMB17.08 per share to not exceeding RMB16.90 per share. The maximum repurchase price after adjustment took effect on 16 September 2025. T here may be a risk that the share price will continue to exceed the approved limit of the repurchase price, resulting in the repurchase proposals being unable to be implemented or only partially implemented; The Company will choose opportunities to repurch ase according to market conditions during the repurchase period, and fulfill its information disclosure obligations in a timely manner according to the progress. As of the date of this report, the Company has not repurchased any A Shares or H Shares. For details, please refer to the announcement on the resolutions of the eighteenth meeting of the ninth session of the Board, the repurchase report concerning the share repurchase by way of
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 31 / 55 centralised price bidding, and the announcement on the plans for the repurchase of shares by way of centralised price bidding, all dated 29 August 2025, of the Company, as well as the announcement of the Company dated 16 September 2025 regarding the adjustment of the maximum repurchase prices of A Shares following the imple mentation of the 2025 interim equity distribution. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. Propo sed quotation of Kasong Science and Technology on NEEQ Upon consideration and approval by the general manager’s office meeting of the Company, on 22 September 2025, Kasong Science and Technology Co., Ltd.* (“Kasong Science and Technology”, the controlled subsidiary of the Company), submitted an application for quotation to the National Equities Exchange and Quotations (the “NEEQ”). Upon the quotation of Kasong Science and Technology on the NEEQ, the Company's shareholding in Kasong Science and Technology s hall remain unchanged, and Kasong Science and Technology shall remain the controlled subsidiary of the Company. For details, please refer to the Company's announcement dated 22 September 2025 regarding the proposed spin - off of Kasong Science and Technolog y and quotation of its shares on the National Equities Exchange and Quotations. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. Capital increase in Power Sales Upon consideration and approval by the general manager’s office meeting of the Company, on 29 August 2025, Shandong Hua Ju Energy Company Limited (“Hua Ju Energy”), a subsidiary of the Company, enter ed into a capital increase agreement with Shandong Energy and Yankuang Power Sales Co., Ltd. *(“Power Sales”, a subsidiary of Shandong Energy). Hua Ju Energy contributed approximately RMB250 million in cash to subscribe for the additional registered capita l of Power Sales. Upon completion of the capital increase, Hua Ju Energy shall hold 70% equity interest in Power Sales, and Shandong Energy shall hold 30% equity interest in Power Sales. Power Sales will become a subsidiary of the Company.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 32 / 55 As at the date of this report, the relevant procedures for equity transfer and industrial and commercial registration change of the above transaction have been completed. For details, please refer to the announcement on related/connected transaction of the Company dated 29 August 2025. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. Establishment of Wind Power Company by way of joint venture Upon consideration and approval by the general manager’s office meeting of the Company, the Company and Yankuang International (the wholly - owned subsidiary of the Company) entered into a joint venture agreement with Shandong Energy Group New Energy Group Co., Ltd. (“New Energy Group”), under which, New Energy Group shall contribute RMB107.1 million in cash for 51% equity interest, with the Company contributing RMB60.9 million in cash for 29% equity interest, and Yanku ang International contributing USD equivalent to RMB42 million for 20% equity interest, to jointly establish Shandong Energy Group (Zoucheng) Wind Power Co., Ltd. ( “ Wind Power Company ” ). Pursuant to listing rules on domestic listing, this related transaction does not meet the disclosure threshold for provisional announcements. Pursuant to the Hong Kong Listing Rules, as the connected transaction is conducted on commercial terms or better terms, and the highest applicable percentage ratio (as defin ed in Rule 14.07 of the Hong Kong Listing Rules) is below 0.1%, the transaction has been granted a full waiver under Rule 14A.76(1)(a) of the Hong Kong Listing Rules. As at the date of this report, the aforementioned transaction has completed the procedur es of industrial and commercial registration. Acquisition of equity interest in Moolarben coal mine Upon consideration and approval by the general manager’s office meeting of the Company, Yancoal Australia, the subsidiary of the Company, acquired 3.75% e quity interest in the Moolarben coal mine held by Korea Electric Power Corp. at a price not exceeding AUD110.5 million. Upon
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 33 / 55 completion of the transaction, Yancoal Australia holds 98.75% equity interest in the Moolarben coal mine. As at the date of this report, the relevant procedures for equity transfer and industrial and commercial registration change have completed. Termination of merger and acquisition of HFR Upon consideration and approval by the general manager’s office meeting of the Company, on 23 September 2024, the Company entered into the Implementation Agreement and the Equity Subscription Agreement (collectively as the “Original Agreements”) with Highfield Resources Limited (“HFR”), under which the Company intended to subscribe for shares i n HFR in a private placement through asset injection and capital contribution in cash, thereby becoming the largest shareholder and acquiring the control of HFR. In September 2025, as the conditions precedent stipulated in the Original Agreements were not satisfied or waived in full on or before the Final Closing Date, the Company issued a written notice to the original agreements. The original agreements shall be terminated immediately upon the written notice. Moving forward, Yankuang Energy will advance the subsequent work of the Canadian potash mine development project in accordance with market - based principles, with the aim of safeguarding the overall interests of the Company. For details, please refer to the announcement dated 19 July 2024 regarding the planning of strategic cooperation with HFR, the announcement dated 23 September 2024 concerning merger and acquisition of HFR, and the announcements dated 12 May 2025 and 18 August 2025 regarding progress on merger and acquisition of HFR as well as the announcement dated 15 September 2025 regarding the termination of merger and acquisition of HFR of the Company. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. IV. QUARTERLY FINANCIAL STATEMENTS (I) Types of Audit Opinions Not Applicable.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 34 / 55 (II) Financial Statements Consolidated Balance Sheet 30 September 2025 Prepared by: Yankuang Energy Group Company Limited Unit: RMB’000 Unaudited Items 30 September 2025 31 December 2024 CURRENT ASSETS: Monetary funds 44,323,404 41,031,574 Clearing settlement funds Lending to banks and other financial institutions Tradable financial assets 307,514 166,772 Derivative financial assets Notes receivables 881,357 1,134,318 Accounts receivable 9,702,480 9,412,084 Receivable financing 2,769,441 3,043,593 Prepayments 9,300,737 4,783,555 Premium receivable Reinsurance accounts receivable Provision of cession receivable Other receivables 5,869,821 3,996,158 Of which: Interest receivables Dividends receivables 2,346 48,320 Purchase of resold financial assets Inventories 8,686,092 7,775,615 Of which: Data resources Contract assets 10,011 79,823 Held - to - sale assets Non - current assets due within one year 2,623,438 4,619,076 Other current assets 29,936,908 25,455,336 Total current assets 114,411,203 101,497,904 NON - CURRENT ASSETS ： Disbursement of loans and advances
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 35 / 55 Debt investment 69,237 63,999 Other debt investments Long - term accounts receivable 2,781,406 2,043,492 Long - term equity investments 26,013,285 25,696,521 Other equity instruments investments 530,376 529,280 Other non - current financial assets 1,441,956 1,447,143 Investment properties 1,712,908 1,234,824 Fixed assets 127,668,994 132,281,331 Construction in progress 29,963,994 24,866,316 Productive biological assets Oil gas assets Usufruct assets 443,684 543,605 Intangible assets 93,280,537 86,427,681 Of which: Data resources Development expenditure Of which: Data resources Goodwill 893,882 829,867 Long - term deferred expenses 1,175,290 1,287,299 Deferred income tax assets 5,881,823 5,571,934 Other non - current assets 25,631,806 26,900,321 TOTAL NON - CURRENT ASSETS 317,489,178 309,723,613 TOTAL ASSETS 431,900,381 411,221,517 CURRENT LIABILITIES: Short - term borrowings 24,686,752 8,892,716 Borrowings from central bank Borrowing funds Tradable financial liabilities 532,112 538,427 Derivative financial liability Notes payable 13,111,070 13,166,206 Accounts payable 21,485,504 25,898,532 Advances from customers Contract liabilities 9,873,426 5,188,067
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 36 / 55 Amounts from sale of repurchased financial assets Deposits from customers and interbank Funds received as agent of stock exchange Funds received as stock underwriter Salaries and wages payable 2,190,936 2,853,742 Taxes payable 2,738,076 2,649,196 Other payables 48,481,400 40,451,143 Of which: Interest payable 49,463 41,380 Dividends payable 10,686,552 3,178,658 Handling charges and commissions payable Reinsurance accounts payable Held - to - sale liabilities Non - current liabilities due within one year 29,110,597 33,592,373 Other current liabilities 1,732,487 1,237,227 TOTAL CURRENT LIABILITIES 153,942,360 134,467,629 NON - CURRENT LIABILITIES: Reserve for insurance contract Long - term borrowings 62,735,119 63,659,263 Bonds payable 19,974,895 15,973,544 Of which: Preferred shares Perpetual bonds Lease liabilities 1,292,024 344,824 Long - term payable 14,489,075 10,833,793 Long - term salaries and wages payable 12,301,015 12,615,315 Estimated liabilities 13,218,060 12,846,272 Deferred income 374,790 383,312 Deferred income tax liabilities 10,636,019 10,887,148 Other non - current liabilities 1,129 10,695
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 37 / 55 TOTAL NON - CURRENT LIABILITIES 135,022,126 127,554,166 TOTAL LIABILITIES 288,964,486 262,021,795 OWNERS’ EQUITY (OR SHAREHOLDERS’ EQUITY): Paid - in capital (or share capital) 10,037,481 10,039,860 Other equity instruments 24,880,200 23,267,221 Of which: Preferred shares Perpetual bonds 24,880,200 23,267,221 Capital reserves - 625,632 7,386,679 Less: Treasury stock 53,424 112,417 Other comprehensive income - 6,971,382 - 7,915,647 Special reserves 3,551,261 3,293,776 Surplus reserves 2,841,392 Provision for general risk Undistributed earnings 46,241,021 48,694,557 Total owners’ equity (or shareholders’ equity) attributable to parent company 77,059,525 87,495,421 Minority Shareholders’ Equity 65,876,370 61,704,301 TOTAL OWNERS’ EQUITY (OR SHAREHOLDERS’ EQUITY) 142,935,895 149,199,722 TOTAL LIABILITIES AND OWNERS’ EQUITY(OR SHAREHOLDERS’ EQUITY) 431,900,381 411,221,517 Legal Representative of the Company: Li Wei Chief Financial Officer: Zhao Zhiguo Head of Accounting Department: Guo Hui
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 38 / 55 Consolidated Income Statements From January to September 202 5 Prepared by: Yankuang Energy Group Company Limited Unit: RMB’000 Unaudited Items January - September 2025 January - September 2024 I. Total Operating Revenue 104,957,463 118,787,801 Including: Operating revenue 104,957,463 118,787,801 Interest income Premium earned Fee and commission income II. Total Operating Costs 94,100,005 98,524,416 Including: Operating costs 73,740,603 76,841,927 Interest expenses Fees and commission expenses Cash surrender value Net claim settlement expenses Net provision for insurance liability Net provision for insurance liability Reinsurance expenses Taxes and surcharges 5,237,200 5,578,538 Sales expenses 3,310,379 3,349,643 Administrative expenses 6,713,563 7,657,045 Research and development expenses 1,888,335 2,071,034 Financial expenses 3,209,925 3,026,229 Including: Interest expenses 3,269,592 3,500,904 Interest income 542,917 650,002 Add: Other income 265,327 222,214 Investment income (“ - ” for loss) 1,769,213 1,723,885
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 39 / 55 Of which: Investment income from associates and joint ventures 1,699,774 1,813,318 Termination recognition income from financial assets measured at amortized costs - 1,488 Exchange earning (“ - ” for loss) Net exposure hedging income (“ - ” for loss) - 117,883 - 304,082 Gains from fair value changes (“ - ” for loss) 102,455 - 83,506 Loss from credit impairment (“ - ” for loss) 126,213 28,724 Loss from asset impairment (“ - ” for loss) - 72,670 - 90,325 Gains on disposal of assets (“ - ” for loss) 708,983 53,514 III. Operating profit (“ - ” for loss) 13,639,096 21,813,809 Add: Non - operating income 454,247 833,327 Less: Non - operating expenses 311,644 377,897 IV. Total Profit (“ - ” for total loss) 13,781,699 22,269,239 Less: Income tax expenses 2,639,608 4,833,820 V. Net profit (“ - ” for net loss) 11,142,091 17,435,419 (I) By business continuity ： 1.Net profit from continuous operation (“ - ” for net loss) 11,142,091 17,435,419 2. Net profit from terminated operation (“ - ” for net loss) (II) By ownership ： 1. Net profit attributable to shareholders of the parent company (“ - ” for net loss) 7,119,974 11,701,355 2. Net profit attributable to holders of other equity instruments of the parent company 468,729 441,277
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 40 / 55 3 . Profit and loss attributable to minority shareholders (“ - ” for net loss) 3,553,388 5,292,787 VI. Other comprehensive income after tax 1,587,284 159,228 (I) Other comprehensive income after tax attributable to the owners of parent company 944,265 105,303 1. Other comprehensive income not to be reclassified as profit or loss 305 - 321 (1) Changes in re - measurement of defined benefit plans - 16 (2) Other comprehensive income not to be reclassified as profit or loss under equity method (3) Changes in fair value of investments in other equity instruments 305 - 305 (4) Changes in the fair value of the enterprise's own credit risk (5) Others 2. Other comprehensive income to be reclassified as profit or loss 943,960 105,624 (1) Other comprehensive income to be reclassified as profit or loss under equity method - 211,397 98,164 (2) Changes in fair value of investments in other cre ditor rights (3) Financial assets reclassified to other comprehensive income (4) Provision for impairment of credit for investments in other creditor rights (5) Provision for cash flow hedging 75,770 138,896 (6) Translation differences of financial statements prepared in foreign currency 1,079,587 - 131,436
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 41 / 55 (7) Others (II) Other comprehensive income after tax attributable to minority shareholders 643,019 53,925 VII. Total comprehensive income 12,729,375 17,594,647 (I) Total comprehensive income attributable to owners of the parent company 8,064,239 11,806,658 (II) Comprehensive income attributable to holders of other equity instruments of the parent company 468,729 441,277 (III) Total comprehensive income attributable to minority shareholders 4,196,407 5,346,712 VIII. Earnings per share: (I)Basic earnings per share (RMB) 0.71 1.40 (II)Diluted earnings per share (RMB) 0.71 1.39 For the business combinations involving enterprises under common control in the current period, the net profit realized by the combined units before the combination was RMB 569,979,039.44 , and the net profit realized by the combined units in the previous period was RMB 844,792,997.94 . Legal Representative of the Company: Li Wei Chief Financial Officer: Zhao Zhiguo Head of Accounting Department: Guo Hui
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 42 / 55 Consolidated Cash Flow Statement From January to September 202 5 Prepared by: Yankuang Energy Group Company Limited Unit: RMB’000 Unaudited Items January - September 2025 January - September 2024 I. CASH FLOW FROM OPERATING ACTIVITIES ： Cash received from sales of goods or rendering of services 119,567,840 140,622,057 Net increase in customer's deposit and deposit of interbank 7,268,233 - 153,830 Net increase in borrowing from the Central Bank Net increase in borrowing from other financial institutions Cash received from the original insurance contract premium Net cash received from the reinsurance businesses Net increase in insured savings and investment funds Cash received from interest, charges and commissions Net increase in loans from other banks and other financial institutions Net increase in funds in repurchase business Net cash received from buying and selling securities as an agent Tax and charges refunded 1,689,469 1,964,573 Other cash received relating to operating activities 4,122,188 11,411,710 Sub - total of cash inflows from operating activities 132,647,730 153,844,510
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 43 / 55 Cash paid for goods and services purchased 63,797,389 65,534,068 Net increase in customer loans and advance - 838,747 3,992,006 Net increase in deposits of central bank and interbank 614,967 - 120,912 Cash paid for the indemnity under original insurance contract Net increase in lendings to banks and other financial institutions Cash paid for interest, charges and commissions Cash paid for policy dividend Cash paid to and for employees 21,670,643 21,511,315 Taxes and charges payments 15,667,177 20,329,575 Other cash paid relating to operating activities 12,136,256 20,282,889 Sub - total of cash outflows from operating activities 113,047,685 131,528,941 Net cash flow from operating activities 19,600,045 22,315,569 II. CASH FLOW FROM INVESTMENT ACTIVITIES Cash received from recovery of investments 2,516,392 6,868,171 Cash received from investments return 852,885 662,816 Net cash received from disposal of fixed assets, intangible assets and other long - term assets 90,477 9 Net cash received from disposal of subsidiaries and other business units 26,007 Other cash received relating to investment activities 163,866
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 44 / 55 Sub - total of cash inflows from investment activities 3,623,620 7,557,003 Cash paid to acquire fixed assets, intangible assets and other long - term assets 9,827,493 16,636,021 Cash paid for investments 241,828 68,543 Net increase in pledged loans Net cash paid by subsidiaries and other business units 247,757 4,442,909 Other cash paid relating to investment activities 3,614,421 1,070 Sub - total of cash outflows from investment activities 13,931,499 21,148,543 Net cash flow from investment activities - 10,307,879 - 13,591,540 III. CASH FLOW FROM FINANCING ACTIVITIES: Cash received from investors 6,630,059 12,573,955 Including: Cash received from minority shareholders of subsidiaries 631,559 8,626 Cash received from issuing other equity instruments 5,998,500 7,996,162 Cash received from borrowings 55,928,655 45,384,012 Other cash received relating to financing activities 96,170 1,876,442 Sub – total of cash inflows from financing activities 62,654,884 59,834,409 Cash paid for repayment of borrowings and debts 42,103,152 21,778,578 Cash paid for distribution of dividends, profits, or cash paid for interest expenses 11,946,735 16,855,779 Including: dividends or profits paid by subsidiaries to minority shareholders 3,520,718 1,180,716
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 45 / 55 Other cash paid relating to financing activities 15,567,557 19,159,841 Sub - total of cash outflows from financing activities 69,617,444 57,794,198 Net cash flow from financing activities - 6,962,560 2,040,211 IV. EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 260,111 176,978 V. NET INCREASE IN CASH AND CASH EQUIVALENTS 2,589,717 10,941,218 Add: Cash and cash equivalents, opening balance 31,490,249 30,948,414 VI. CASH AND CASH EQUIVALENTS, CLOSI NG BALANCE 34,079,966 41,889,632 Legal Representative of the Company: Li Wei Chief Financial Officer: Zhao Zhiguo Head of Accounting Department: Guo Hui
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 46 / 55 Balance Sheet of the Parent Company 30 September 2025 Prepared by: Yankuang Energy Group Company Limited Unit: RMB’000 Unaudited Items 30 September 2025 31 December 2024 CURRENT ASSETS: Monetary funds 4,531,175 4,672,436 Tradable financial assets 788 481 Derivative financial assets Notes receivables Accounts receivable 3,132,526 2,360,288 Receivable financing 533,298 1,744,868 Prepayments 14,462 5,089 Other receivables 58,456,676 52,636,393 Of which: Interest receivables Dividends receivables 9,862,643 10,657,134 Inventories 289,696 187,495 Of which: Data resources Contract assets Held - to - sale assets Non - current assets due within one year Other current assets 2,837,662 2,970,131 Total current assets 69,796,283 64,577,181 NON - CURRENT ASSETS ： Debt investment Other debt investments Long - term accounts receivable Long - term equity investments 112,683,644 106,162,570 Other equity instruments investments 4,240 4,073 Other non - current financial assets Investment properties 506,922 28,838 Fixed assets 12,420,569 12,418,036 Construction in progress 1,667,558 2,349,171
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 47 / 55 Productive biological assets Oil gas assets Usufruct assets 7,052,989 7,974,824 Intangible assets 676,654 851,852 Of which: Data resources Development expenditure Of which: Data resources Goodwill Long - term deferred expenses 192 767 Deferred income tax assets 3,305,160 3,094,231 Other non - current assets 3,836,636 3,839,158 TOTAL NON - CURRENT ASSETS 142,154,564 136,723,520 TOTAL ASSETS 211,950,847 201,300,701 CURRENT LIABILITIES: Short - term borrowings 17,203,096 6,850,000 Tradable financial liabilities Derivative financial liability Notes payable 4,409,712 3,141,444 Accounts payable 2,544,130 3,942,896 Advances from customers Contract liabilities 1,005,666 524,564 Salaries and wages payable 135,825 105,367 Taxes payable 215,708 354,202 Other payables 51,118,008 38,614,385 Of which : I nterest payable Dividends payable 1,524,716 Held - to - sale liabilities Non - current liabilities due within one year 25,459,718 26,282,910 Other current liabilities 175,364 77,842 TOTAL CURRENT LIABILITIES 102,267,227 79,893,610 NON - CURRENT LIABILITIES: Long - term borrowings 38,398,720 41,180,900
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 48 / 55 Bonds payable 19,971,138 15,973,544 Of which : P referred shares P erpetual bonds Lease liabilities 8,011,526 8,574,096 Long - term payable 702,118 426,421 Long - term salaries and wages payable Estimated liabilities 1,411,773 1,367,542 Deferred income 182,756 184,497 Deferred income tax liabilities 2,038,814 2,281,349 Other non - current liabilities TOTAL NON - CURRENT LIABILITIES 70,716,845 69,988,349 TOTAL LIABILITIES 172,984,072 149,881,959 OWNERS’ EQUITY ( OR SHAREHOLDERS’ EQUITY ) : Paid - in capital (or share capital) 10,037,481 10,039,860 Other equity instruments 24,880,200 23,267,221 Of which: P referred shares P erpetual bonds 24,880,200 23,267,221 Capital reserves - 68,456 4,628,743 Less: T reasury stock 53,424 112,417 Other comprehensive income 297,580 439,219 Special reserves 1,149,117 1,140,167 Surplus reserves 2,841,392 Undistributed earnings 2,724,277 9,174,557 TOTAL OWNERS’ EQUITY (OR SHAREHOLDERS’ EQUITY) 38,966,775 51,418,742 TOTAL LIABILITIES AND OWNERS’ EQUITY ( OR SHAREHOLDERS’ EQUITY) 211,950,847 201,300,701 Legal Representative of the Company: Li Wei Chief Financial Officer: Zhao Zhiguo Head of Accounting Department: Guo Hui
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 49 / 55 Income Statement of the Parent Company From January to September 202 5 Prepared by: Yankuang Energy Group Company Limited Unit: RMB’000 Unaudited Items January - September 2025 January - September 2024 I. Operating Revenue 11,699,341 16,812,464 Less: O perating costs 9,216,662 10,677,501 Taxes and surcharges 707,610 820,467 Sales expenses 162,129 119,750 Administrative expenses 1,921,035 2,095,791 Research and development expenses 212,172 211,057 Financial expenses 1,240,552 1,288,787 Including: Interest expense s 2,469,103 2,404,599 Interest income 1,293,444 1,172,546 Add: Other income 40,144 21,901 Investment income (“ - ” for loss) 2,727,621 1,628,352 Including: Investment income from associates and joint ventures 387,791 378,146 Termination recognition income from financial assets measured at amortized costs Net exposure hedging income (“ - ” for loss) Gains from fair value changes (“ - ” for loss) 301 69 Loss from credit impairment (“ - ” for loss) - 230,181 112,002
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 50 / 55 Loss from asset impairment (“ - ” for loss) - 51,000 Gains on disposal of assets (“ - ” for loss) 261,056 1,456 II. Operating profit (“ - ” for loss) 987,122 3,362,891 Add: Non - operating income 174,793 177,651 Less: Non - operating expenses 56,882 28,800 III. Total Profit (“ - ” for total loss) 1,105,033 3,511,742 Less: Income tax expenses - 607,935 828,800 IV. Net profit (“ - ” for net loss) 1,712,968 2,682,942 (I) By business continuity ： 1,712,968 2,682,942 1. Net profit from continuous operation (“ - ” for net loss) 1,712,968 2,682,942 2. Net profit from terminated operation (“ - ” for net loss) (II) By ownership ： 1,712,968 2,682,942 1. Net profit attributable to shareholders of the parent company (" - " for net loss) 1,244,239 2,241,665 2. Net profit attributable to holders of other equity instruments of the parent company (" - " for net loss) 468,729 441,277 V. Other comprehensive net income after tax - 141,640 62,192
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 51 / 55 (I) Other comprehensive income not to be reclassified as profit or loss 125 1. Changes in re - measurement of defined benefit plans 2. Other comprehensive income not to be reclassified as profit or loss under equity method 3. Changes in fair value of investments in other creditor rights 125 4. Changes in the fair value of the enterprise's own credit risk ( II ) Other comprehensive income to be reclassified as profit or loss - 141,765 62,192 1. Other comprehensive income to be reclassified as profit or loss under equity method - 141,765 62,192 2. Changes in fair value of investments in other equity instruments 3. Financial assets reclassified to other comprehensive income 4. Provision for impairment of Credit for investments in other creditor rights 5. Provision for cash flow hedging
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 52 / 55 6. Translation differences of financial statements prepared in foreign currency 7. Others VI. Total comprehensive income 1,571,328 2,745,134 (I) Comprehensive income attributable to owners of the parent company 1,102,599 2,303,857 (II) Comprehensive income attributable to holders of other equity instruments of the parent company 468,729 441,277 Legal Representative of the Company: Li Wei Chief Financial Officer: Zhao Zhiguo Head of Accounting Department: Guo Hui Cash Flow State ment of the Parent C ompany From January to September 2025 Prepared by: Yan kuang Energy Group Company Limited Unit: RMB ’ 000 U naudited Items January - September 2025 January - September 2024 I. CASH FLOW FROM OPERATING ACTIVITIES : Cash received from sales of goods or rendering of services 12,469,476 19,672,396 Tax and charges refunded 4 83,925 Other cash received relating to operating activities 1,952,830 916,977 Sub - total of cash inflows from operating activities 14,422,310 20,673,298 Cash paid for goods and services purchased 4,822,132 5,124,715 Cash paid to and for employees 5,342,444 6,082,100 Taxes and charges payments 1,919,727 3,721,913
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 53 / 55 Other cash paid relating to operating activities 2,004,260 2,262,987 Sub - total of cash outflows from operating activities 14,088,563 17,191,715 N et cash flow from operating activities 333,747 3,481,583 II. CASH FLOW FROM INVESTMENT ACTIVITIES : Cash received from recovery of investments 1,784,000 Cash received from investments return 3,662,005 1,426,405 Net cash received from disposal of fixed assets, intangible assets and other long - term assets 4,005 1,367 Net cash received from disposal of subsidiaries and other business units Other c ash received relating to investment activities 6,621,509 6,902,779 Sub - total of cash inflows from investment activities 12,071,519 8,330,551 Cash paid to acquire fixed assets, intangible assets and other long - term assets 153,419 3,901,718 Cash paid for investments 5,985,480 10,236,875 Net cash paid by subsidiaries and other business units Other cash paid relating to investment activities 13,589,656 10,267,166 Sub - total of cash outflows from investment activities 19,728,555 24,405,759 N et cash flow from investment activities - 7,657,036 - 16,075,208 III. CASH FLOW FROM FINANCING ACTIVITIES: Cash received from investors 5,998,500 12,487,702 Cash received from borrowings 41,381,618 35,593,323
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 54 / 55 Other cash received relating to financing activities 19,724,851 21,622,845 Sub – total of cash inflows from financing activities 67,104,969 69,703,870 Cash paid for repayment of borrowings and debts 30,570,060 16,855,777 Cash paid for distribution of dividends, profits, or cash paid for interest expenses 7,601,704 14,294,330 Other cash paid relating to financing activities 22,307,611 21,210,555 Sub - total of cash outflows from financing activities 60,479,375 52,360,662 Net cash flow from financing activities 6,625,594 17,343,208 IV. EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS - 32,908 31,131 V. NET INCREASE IN CASH AND CASH EQUIVALENTS - 730,603 4,780,714 Add: Cash and cash equivalents, opening balance 3,856,269 5,445,387 VI. CASH AND CASH EQUIVALENTS, CLOSING BALANCE 3,125,666 10,226,101 Legal Representative of the Company: Li Wei Chief Financial Officer: Zhao Zhiguo Head of Accounting Department: Guo Hui Adjustments to the financial statements at the beginning of the year in which the new accounting standards or explanations are implemented for the first time since 2025 Not App licable.
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Yankuang Energy Group Company Limited Results Report for the Third Quarter of 202 5 55 / 55 V. DIRECTORS As at the date of this announcement, the Directors of the Company are Mr. Li Wei, Mr. Wang Jiuhong, Mr. Liu Jian, Mr. Liu Qiang, Mr. Zhang Haijun, Mr. Su Li and Mr. Huang Xiaolong, and the independent non - executive Directors of the Company are Mr. Zhu Limin, Mr. Gao Jingxiang, Mr. Woo Kar Tung, Raymond and Ms Zhu Rui. Li Wei Chairman of the Board Yankuang Energy Group Company Limited * 30 October 2025 * For identification purpose only