Earnings release
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1 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. CMOC Group Limited* (a joint stock company incorporated in the People ’s Republic of China with limited liability) (Stock Code: 03993) 2025 THIRD QUARTERLY FINANCIAL REPORT The board of directors (the “Board”) of CMOC Group Limited (the “Company ” or “CMOC”) is pleased to announce the unaudited results of the Company and its subsidiaries (collectively the “Group”) prepared in accordance with the Accounting Standards for Business Enterprises of the People ’s Republic of China for the third quarter ended 30 September 2025. This announcement is made pursuant to Rules 13.09(2) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong). * For identification purpose only ** This report was prepared in both Chinese and English versions. Where there is discrepancy between the Chinese and English versions, the Chinese version shall prevail.
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2 IMPORTANT NOTICE The Board, the supervisory committee, the directors, supervisors and senior management of the Company warrant the truthfulness, accuracy and completeness of the contents set out in this quarterly report, and that it contains no false representation, misleading statement nor material omission, and assume several and joint legal responsibilities. The person in charge of the Company, the person in charge of accounting affairs and the person responsible for the accounting institution, ensure the truthfulness, accuracy and completeness of the financial statements in this quarterly report. The third quarterly financial report is unaudited. I. BASIC FINANCIAL INFORMATION (1) Key Accounting Data and Financial Indicators Unit: Yuan Currency: RMB Items During the reporting period Increase/decrease for the reporting period as compared with the same period last year From the beginning of the year to the end of the reporting period Increase/decrease from the beginning of the year to the end of the reporting period as compared with the same period last year (%) (%) Operating revenue 50,712,708,264.66 -2.36 145,485,212,034.86 -5.99 Total profit 9,165,658,108.15 64.37 24,068,188,776.47 43.87 Net profit attributable to shareholders of the listed company 5,608,397,123.36 96.40 14,279,657,200.87 72.61 Net profit after deduction of non-recurring profits or losses attributable to shareholders of the listed company 5,813,074,707.05 98.63 14,536,938,974.28 69.98 Net cash flow from operating activities N/A N/A 15,864,160,180.24 -8.20 Basic earnings per share (RMB Yuan per Share) 0.26 85.71 0.67 71.79 Diluted earnings per share (RMB Yuan per Share) 0.26 85.71 0.67 71.79 Weighted average return on net assets (%) 6.95 Increased by 2.29 percentage points 18.65 Increased by 5.17 percentage points At the end of the reporting period At the end of last year Increase/decrease for the end of the reporting period as compared with the end of last year (%) Total assets 184,190,759,910.89 170,236,431,691.82 8.20 Owners ’ equity attributable to shareholders of the listed company 78,686,954,729.18 71,022,993,716.51 10.79 Note: “Reporting period ” refers to the three-month period from the beginning of the quarter to the end of the quarter, the same as below.
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3 (2) Items and amounts for non-recurring profits or losses Unit: Yuan Currency: RMB Non-recurring profits or losses items Amount during the reporting period Amount from the beginning of the year to the end of the reporting period Profits or losses from disposal of non-current assets, including write-offs of provision for asset impairment -21,554,873.18 -30,624,235.21 Government grants included in profits or losses for the current period, except for those closely relevant to the Company ’s normal business and in compliance with national policies and regulations and granted according to the determined criteria or have a continuous impact on the Company ’s profit or loss 3,258,759.45 33,019,969.36 Profits or losses of changes in fair value arising from financial assets and financial liabilities held by non-financial institutions, and profits or losses arising from disposal of financial assets and financial liabilities, except for effective hedging activities associated with normal business operations of the Company -129,365,596.53 -159,637,179.53 Capital utilization fees received from non-financial institutions included in profits or losses for the current period 6,130,227.61 18,324,712.12 Other non-operating income and expenses other than the above -36,246,733.28 -93,177,057.27 Other profits or losses items that satisfy the definition of non-recurring profits or losses -4,579,221.34 -13,840,495.35 Less: Income tax effects 30,490,059.91 21,510,732.01 Effects attributable to minority interests (after tax) -8,169,913.49 -10,163,244.48 Total -204,677,583.69 -257,281,773.41
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4 (3) Particulars of and reasons for changes in key accounting data and financial indicators Items Increase/ Decrease Main Reason (%) Total profit_during the reporting period 64.37 The year-over-year increase in profit was primarily attributable to a rise in the selling price of our key products, coupled with higher production and sales volume of copper products. Total profit_from the beginning of the year to the end of the reporting period 43.87 Same as above Net profit attributable to shareholders of the listed company_during the reporting period 96.40 Same as above Net profit attributable to shareholders of the listed company_from the beginning of the year to the end of the reporting period 72.61 Same as above Net profit after deduction of non-recurring profits or losses attributable to shareholders of the listed company_during the reporting period 98.63 Same as above Net profit after deduction of non-recurring profits or losses attributable to shareholders of the listed company_from the beginning of the year to the end of the reporting period 69.98 Same as above Basic earnings per share_during the reporting period (RMB Yuan per Share) 85.71 Same as above Basic earnings per share_from the beginning of the year to the end of the reporting period (RMB Yuan per Share) 71.79 Same as above Diluted earnings per share_during the reporting period (RMB Yuan per Share) 85.71 Same as above Diluted earnings per share_from the beginning of the year to the end of the reporting period (RMB Yuan per Share) 71.79 Same as above Weighted average return on net assets_during the reporting period 49.14 Same as above Weighted average return on net assets_from the beginning of the year to the end of the reporting period 38.35 Same as above
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5 Items Increase/ Decrease Main Reason (%) Net cash flow from operating activities_from the beginning of the year to the end of the reporting period -8.20 During the reporting period, the net cash outflow from operating activities of the base metal trading business increased year-on-year. Net cash flow from investing activities_from the beginning of the year to the end of the reporting period 67.29 During the reporting period, the cash used for purchasing structured deposits with idle funds decreased year-on-year. Net cash flow from financing activities_from the beginning of the year to the end of the reporting period -31.28 During the reporting period, the cash inflow from obtaining loans decreased year-on-year, while the cash outflow to external dividends increased year-on-year.
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6 II. SHAREHOLDERS ’ INFORMATION Table showing total number of ordinary shareholders, the number of preferred shareholders with restored voting rights and the shareholding of the top 10 shareholders Total number of ordinary shareholders as at the end of the reporting period 304,226 Shareholding of the top 10 shareholders Unit: 0 ’000 Shares Name of shareholders Nature of shareholders Number of shareholding Percentage of shareholding Number of shares held with selling restrictions Subject to pledge, mark or moratorium Status of shares Number (%) Cathay Fortune Corporation (ʮ̡ ) Domestic non-state owned legal person 533,322.00 24.93 0 Pledge 24,586.80 Luoyang Mining Group Co., Ltd. (ʮ̡ ) Domestic non-state owned legal person 532,978.04 24.91 0 Nil 0 HKSCC NOMINEES LIMITED Foreign legal person 360,115.56 16.83 0 Nil 0 Hong Kong Securities Clearing Company Ltd. (ʮ̡ ) Foreign legal person 69,500.38 3.25 0 Nil 0 Industrial and Commercial Bank of China – SSE 50 Exchange Traded Open-Ended Index Securities Investment Fund ( ʕʈਠვБ Ñ ɪᗇ50ό ږ) Unknown 13,419.31 0.63 0 Nil 0 Industrial and Commercial Bank of China Co., Ltd. - Huatai Pinebridge CSI 300 ETF Securities Investment Fund ( လଉ300ږ) Unknown 11,975.70 0.56 0 Nil 0 Taikang Life Insurance Co., Ltd. – Dividends – Individual Dividends – 019L – FH002 SH (ɛ Ñ019L-FH002 လ) Unknown 9,581.90 0.45 0 Nil 0 China Construction Bank Corporation – E Fund CSI 300 Exchange Traded Open-Ended Index Initiated Securities Investment Fund (˙༺လଉ 300ږ) Unknown 8,647.42 0.40 0 Nil 0 Taikang Life Insurance Co., Ltd. – Traditional – General Insurance Product – 019L-CT001 SH (பʮ̡ Ñ ෂ୕ Ñ Ñ019L-CT001 လ) Unknown 6,957.45 0.33 0 Nil 0 China Securities – China CITIC Financial Asset Management Co., Ltd. – China Securities – Pioneer Single Asset Management Plan (ፄ༟ପ၍ଣ ҳ Ñ ቜఊɓ ྌ ) Unknown 6,927.04 0.32 0 Nil 0
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7 Shareholding of the top 10 shareholders not subject to trading moratorium Name of shareholders Number of tradable shares not subject to trading moratorium Types and quantity of shares Types of shares Quantity Cathay Fortune Corporation (ʮ̡ ) 533,322.00 RMB-denominated ordinary shares (A shares) 503,022.00 Overseas listed foreign-invested shares (H shares) 30,300.00 Luoyang Mining Group Co., Ltd. (ʮ̡ ) 532,978.04 RMB-denominated ordinary shares (A shares) 532,978.04 HKSCC NOMINEES LIMITED 360,115.56 Overseas listed foreign-invested shares (H shares) 360,115.56 Hong Kong Securities Clearing Company Ltd. (ʮ̡ ) 69,500.38 RMB-denominated ordinary shares (A shares) 69,500.38 Industrial and Commercial Bank of China – SSE 50 Exchange Traded Open-Ended Index Securities Investment Fund ( ʕʈਠვБ Ñ ɪᗇ50ږ) 13,419.31 RMB-denominated ordinary shares (A shares) 13,419.31 Industrial and Commercial Bank of China Co., Ltd. – Huatai Pinebridge CSI 300 ETF Securities Investment Fund (ʮ̡ Ñ လଉ 300ږ) 11,975.70 RMB-denominated ordinary shares (A shares) 11,975.70 Taikang Life Insurance Co., Ltd. – Dividends – Individual Dividends – 019L – FH002 SH (ɛ Ñ019L-FH002 လ) 9,581.90 RMB-denominated ordinary shares (A shares) 9,581.90 China Construction Bank Corporation – E Fund CSI 300 Exchange Traded Open-Ended Index Initiated Securities Investment Fund (˙༺လଉ 300 ږ) 8,647.42 RMB-denominated ordinary shares (A shares) 8,647.42 Taikang Life Insurance Co., Ltd. – Traditional – General Insurance Product – 019L-CT001 SH (பʮ̡ Ñ ෂ୕ Ñ Ñ019L-CT001 လ) 6,957.45 RMB-denominated ordinary shares (A shares) 6,957.45 China Securities – China CITIC Financial Asset Management Co., Ltd. – China Securities – Pioneer Single Asset Management Plan (ҳᗇՎ Ñ ʮ̡ Ñ ྌ ) 6,927.04 RMB-denominated ordinary shares (A shares) 6,927.04 Explanation of the aforesaid shareholders ’ related relations or concerted action Cathay Fortune International Company Limited (ʮ̡ ), a wholly owned subsidiary of Cathay Fortune Corporation (ʮ̡ ), and Cathay Fortune Investment Limited (ʮ̡ ), an indirect wholly-owned subsidiary, hold a total of 303,000,000 H shares of the Company, which were registered under HKSCC NOMINEES LIMITED. Cathay Fortune Corporation (ʮ̡ ) , which holds a total of 5,333,220,000 shares of the Company, is the largest shareholder of the Company. Explanation of the top 10 shareholders and the top 10 unlimited shareholders participating in margin trading and refinancing business Ŋ
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8 III. OTHER REMINDERS 1. Details of principal products Principal products Unit Production/ Purchase volume Sales volume Increase/ decrease in production/ purchase volume compared with the same period last year Increase/ decrease in sales volume compared with the same period last year (%) (%) Mineral exploration and processing (Note 1) Copper Tonnes 543,376 520,312 14.14 10.56 Cobalt(Note 2) Tonnes 87,974 51,027 3.84 -36.08 Molybdenum Tonnes 10,611 10,785 -6.38 -0.16 Tungsten Tonnes 6,000 5,642 -2.10 -4.68 Niobium Tonnes 7,841 8,121 2.07 7.49 Phosphate fertilizer (Note 3) Tonnes 912,769 825,714 1.92 -3.79 Mineral trading Concentrate metal products (Note 4) Tonnes 2,669,114 2,589,001 6.85 -3.11 Refined metal products (Note 5) Tonnes 799,043 742,116 -45.06 -54.43 Note 1: The production volume of the mineral exploration and processing segment is based on the Company ’s self-produced mine data, the sales volume is the final actual external sales volume. Note 2: Reported in converted metal tonnes. Note 3: The production volume of phosphate fertilizer includes the final products for sale and the primary products for the next stage of reproduction. Note 4: Primary products of metal minerals, mainly concentrates. Note 5: Metal mineral smelting and chemical products.
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9 2. Principal business by products Unit: Yuan Currency: RMB By products Operating revenue Operating cost Gross profit margin Increase/ decrease in operating revenue compared with the same period last year Increase/ decrease in operating cost compared with the same period last year Increase/ decrease in gross profit margin compared with the same period last year (%) (%) (%) (%) Mineral exploration and processing Copper 38,618,366,799.20 17,737,308,790.48 54.07 25.67 21.09 Increased by 1.73 percentage points Cobalt 6,183,690,541.34 2,259,544,302.81 63.46 -7.79 -46.95 Increased by 26.97 percentage points Molybdenum 4,658,161,284.39 2,711,392,984.17 41.79 3.05 -8.51 Increased by 7.35 percentage points Tungsten 1,587,651,692.22 578,670,652.74 63.55 21.11 17.45 Increased by 1.13 percentage points Niobium 2,478,773,040.55 1,199,212,463.06 51.62 10.77 -17.55 Increased by 16.61 percentage points Phosphate fertilizer 3,067,688,488.01 2,120,145,673.69 30.89 14.17 4.15 Increased by 6.65 percentage points Mineral trading (Note 1) Concentrate metal products 54,940,751,324.43 50,287,998,348.77 8.47 16.39 13.17 Increased by 2.61 percentage points Refined metal products 72,173,160,152.40 71,928,279,668.77 0.34 -21.54 -19.36 Decreased by 2.69 percentage points Internal transactions offset -38,418,217,352.17 -35,403,208,565.84 Note 1: When accounting for the operating costs of mineral trading, the Group complies with the requirements of the Accounting Standards for Business Enterprises by only recognizing costs related to spot transactions. Gains and losses associated with futures trading are accounted for under the “fair value change gains ” account. Under the International Accounting Standards, the gross profit margin for IXM ’s trading business in the current period was 2.34%.
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10 3. Major achievements during the reporting period In the third quarter of 2025, the Company successfully achieved planned production targets for its principal products, laying a solid foundation for the successful completion of its annual mission. During the reporting period, the Company ’s TFM Copper and Cobalt Mine operated in the DRC successfully passed its recertification audit for The Copper Mark, receiving a “fully satisfied ” rating in all assessment areas. This made TFM the first mine in Africa to receive The Copper Mark certification and the first copper and cobalt mine project in Africa to achieve “fully satisfied ” across all audit criteria. Furthermore, the Company received its first-ever “AAA” rating for ESG from Wind, ranking among the Top 100 list (large-cap companies) for the first time. The “Resolution in relation to Investment and Construction of KFM Phase II Project in the DRC ” was considered and approved at the seventh meeting of the seventh session of the Board of the Company. KFM Phase II Project will have a construction investment of US$1.084 billion with a construction period of two years, and is scheduled to be completed and put into production in 2027. It is expected to increase the annual processing capacity of raw ore by 7.26 million tonnes and, upon reaching full production, have an expected average annual increase of 100,000 tonnes of copper metals. In order to establish a long-term incentive system of “co-creation, joint undertaking and sharing ” to attract and retain high-end global talents and effectively support the advancement and implementation of strategies, the Company launched the H Share Restricted Share Scheme, intending to grant no more than 393 million H shares to incentive participants.
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11 IV. QUARTERLY FINANCIAL STATEMENTS CONSOLIDATED BALANCE SHEET 30 September 2025 Unit: Yuan Currency: RMB Audit type: Unaudited Items 30 September 2025 31 December 2024 Current assets: Cash and bank balances 32,468,372,600.30 30,427,258,389.26 Held-for-trading financial assets 7,790,345,417.54 6,509,905,551.61 Derivative financial assets 1,913,731,697.78 1,393,127,738.63 Accounts receivable 674,139,896.72 647,879,043.30 Financing with receivables 77,790,641.75 80,435,196.69 Prepayments 1,566,763,859.71 1,114,395,541.39 Other receivables 6,038,077,449.09 5,524,864,547.38 Including: Interests receivable 289,244,754.01 277,967,881.17 Dividends receivable – 210,000,000.00 Inventories 33,525,302,360.82 29,878,326,307.04 Non-current assets due within one year 1,867,859,543.19 669,085,195.47 Other current assets 6,883,353,798.77 2,929,115,294.46 Total current assets 92,805,737,265.67 79,174,392,805.23 Non-current assets: Long-term equity investments 3,707,380,742.55 3,282,859,126.21 Investments in other equity instruments 42,794,581.24 7,139,182.24 Other non-current financial assets 3,182,719,397.20 2,804,861,188.55 Fixed assets 42,333,361,920.93 44,422,262,703.20 Construction in progress 3,796,534,274.44 4,054,550,381.26 Right-of-use assets 209,017,491.44 257,985,962.59 Intangible assets 24,778,029,732.30 21,651,283,345.49 Long-term inventories 7,119,826,248.01 7,224,831,357.59 Goodwill 431,525,812.96 436,560,432.61 Long-term prepaid expenses 221,054,080.57 279,914,912.55 Deferred tax assets 2,092,249,926.06 1,592,961,821.67 Other non-current assets 3,470,528,437.52 5,046,828,472.63 Total non-current assets 91,385,022,645.22 91,062,038,886.59 Total assets 184,190,759,910.89 170,236,431,691.82
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12 Items 30 September 2025 31 December 2024 Current liabilities: Short-term borrowings 21,726,939,715.75 13,960,237,085.28 Held-for-trading financial liabilities 5,764,654,459.11 2,835,872,062.19 Derivative financial liabilities 5,506,155,800.51 1,454,738,253.36 Notes payable 366,635,670.63 606,310,041.05 Accounts payable 5,254,434,841.92 4,807,065,051.51 Contract liabilities 2,669,091,249.13 2,621,355,529.29 Employee benefits payable 1,473,485,127.67 1,443,108,200.73 Taxes payable 7,213,730,954.70 5,529,776,168.33 Other payables 3,405,468,410.79 5,160,820,314.05 Including: Dividends payable 34,063,210.06 34,063,210.06 Non-current liabilities due within one year 4,749,314,418.19 6,210,958,935.89 Other current liabilities 1,131,712,361.06 830,355,325.34 Total current liabilities 59,261,623,009.46 45,460,596,967.02 Non-current liabilities: Long-term borrowings 2,547,532,245.97 9,333,840,115.73 Lease liabilities 111,672,007.03 136,870,676.80 Long-term employee benefits payable 572,740,321.93 530,656,320.26 Provisions 2,678,787,293.87 2,830,531,195.69 Deferred income 131,144,921.87 53,993,446.58 Deferred tax liabilities 6,011,686,423.58 6,572,753,970.55 Other non-current liabilities 18,147,483,221.43 19,374,952,854.42 Total non-current liabilities 30,201,046,435.68 38,833,598,580.03 Total liabilities 89,462,669,445.14 84,294,195,547.05
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13 Items 30 September 2025 31 December 2024 Owners ’ equity (or shareholders ’ equity): Paid-in capital (or share capital) 4,278,862,035.20 4,319,848,116.60 Other equity instruments 1,000,000,000.00 1,000,000,000.00 Including: Perpetual bond 1,000,000,000.00 1,000,000,000.00 Capital reserve 26,567,336,133.41 27,708,934,206.93 Less: Treasury shares 82,426,321.88 1,266,543,810.15 Other comprehensive income 1,480,022,239.75 2,739,929,808.22 Special reserve 365,724,224.44 267,497,082.63 Surplus reserve 2,159,924,058.30 2,159,924,058.30 Retained profits 42,917,512,359.96 34,093,404,253.98 Total owners ’ equity (or shareholders ’ equity) attributable to equity holders of the Company 78,686,954,729.18 71,022,993,716.51 Minority interests 16,041,135,736.57 14,919,242,428.26 Total owners ’ equity (or shareholders ’ equity) 94,728,090,465.75 85,942,236,144.77 Total liabilities and owners ’ equity (or shareholders ’ equity) 184,190,759,910.89 170,236,431,691.82
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14 CONSOLIDATED INCOME STATEMENT January to September 2025 Unit: Yuan Currency: RMB Audit type: Unaudited Items January to September 2025 January to September 2024 I. Total operating revenue 145,485,212,034.86 154,754,604,829.36 Including: Operating revenue 145,485,212,034.86 154,754,604,829.36 II. Total operating costs 119,406,066,209.56 135,157,459,448.52 Including: Operating costs 113,530,810,246.03 127,476,334,514.65 Taxes and levies 2,607,109,356.16 3,079,793,019.69 Selling expenses 80,876,166.64 72,363,021.02 Administrative expenses 1,825,974,340.31 1,740,684,745.49 Research and development expenses 331,622,654.44 224,606,768.42 Financial expenses 1,029,673,445.98 2,563,677,379.25 Including: Interest expenses 1,965,274,846.70 3,113,911,304.21 Interest income 1,194,461,024.47 1,200,244,161.73 Add: Other income 39,147,744.03 46,401,958.24 Investment income (losses are indicated by “-”) 461,248,592.09 694,608,388.99 Including: Income from investments in associates and joint ventures 508,479,734.37 576,484,201.62 Gains from changes in fair value (losses are indicated by “-”) -2,392,433,854.95 -3,594,126,193.62 Gains from credit impairment (losses are indicated by “-”) -14,668,174.17 794,343.77 Asset impairment gains (losses are indicated by “-”) 23,760,854.53 -690,994.46 Gains from disposal of assets (losses are indicated by “-”) -34,835,153.46 17,528,283.41 III. Operating profit (loss is indicated by “-”) 24,161,365,833.37 16,761,661,167.17 Add: Non-operating income 12,906,166.26 25,682,624.73 Less: Non-operating expenses 106,083,223.16 58,037,874.77 IV. Total profit (total loss is indicated by “-”) 24,068,188,776.47 16,729,305,917.13 Less: Income tax expenses 7,579,736,175.25 7,207,304,605.75
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15 Items January to September 2025 January to September 2024 V. Net profit (net loss is indicated by “-”) 16,488,452,601.22 9,522,001,311.38 (I) Classified by business continuity 1. Net profit from continuing operations (net loss is indicated by “-”) 16,488,452,601.22 9,522,001,311.38 (II) Classified by ownership 1. Net profit attributable to shareholders of the Company (net loss is indicated by “-”) 14,279,657,200.87 8,272,917,557.72 2. Profit or loss attributable to minority interests (net loss is indicated by “-”) 2,208,795,400.35 1,249,083,753.66 VI. Other comprehensive income, net of tax -1,568,373,682.40 -644,310,811.51 (I) Other comprehensive income attributable to owners of the Company, net of tax -1,259,907,568.47 -504,030,963.21 1. Other comprehensive income that will be reclassified to profit or loss -1,259,907,568.47 -504,030,963.21 (1) Cash flow hedging reserve -77,423,268.19 46,601,219.80 (2) Translation differences of financial statements denominated in foreign currencies -1,182,484,300.28 -550,632,183.01 (II) Other comprehensive income attributable to minority interests, net of tax -308,466,113.93 -140,279,848.30 VII. Total comprehensive income 14,920,078,918.82 8,877,690,499.87 (I) Total comprehensive income attributable to owners of the Company 13,019,749,632.40 7,768,886,594.51 (II) Total comprehensive income attributable to minority interests 1,900,329,286.42 1,108,803,905.36 VIII. Earnings per share: (I) Basic earnings per share (RMB/Share) 0.67 0.39 (II) Diluted earnings per share (RMB/Share) 0.67 0.39
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16 CONSOLIDATED CASH FLOW STATEMENT January to September 2025 Unit: Yuan Currency: RMB Audit type: Unaudited Items January to September 2025 January to September 2024 I. Cash Flows from Operating Activities: Cash receipts from the sale of goods and rendering of services 146,613,836,326.31 153,409,306,138.05 Other cash receipts relating to operating activities 1,540,321,280.47 1,566,298,809.92 Sub-total of cash inflows from operating activities 148,154,157,606.78 154,975,604,947.97 Cash payments for goods purchased and services received 113,808,310,856.74 122,893,884,937.53 Cash payments to and on behalf of employees 3,429,849,500.27 3,186,816,393.90 Payments of various types of taxes 13,384,697,661.75 10,788,901,882.38 Other cash payments relating to operating activities 1,667,139,407.78 825,120,127.37 Sub-total of cash outflows from operating activities 132,289,997,426.54 137,694,723,341.18 Net cash flow from operating activities 15,864,160,180.24 17,280,881,606.79 II. Cash Flows from Investing Activities: Cash receipts from disposals and recovery of investments 5,619,382,008.50 6,998,918,322.90 Cash receipts from investment income 369,096,543.85 845,430,746.11 Net cash receipts from disposals of fixed assets, intangible assets and other long-term assets 173,233.56 51,643,682.52 Net cash receipts from the disposal of subsidiaries and other business units 85,024,982.90 154,991,100.00 Other cash receipts relating to investing activities 586,254,826.14 599,439,856.58 Sub-total of cash inflows from investing activities 6,659,931,594.95 8,650,423,708.11 Cash payments to acquire or construct fixed assets, intangible assets and other long-term assets 5,018,145,349.79 4,872,411,834.71 Cash payments to acquire investments 4,363,243,500.67 11,905,348,975.57 Net cash paid for acquiring subsidiaries and other business units – 4,985,788.54 Other cash payments relating to investing activities 93,167,603.46 471,564,851.68 Sub-total of cash outflows from investing activities 9,474,556,453.92 17,254,311,450.50 Net cash flow from investing activities -2,814,624,858.97 -8,603,887,742.39
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17 Items January to September 2025 January to September 2024 III. Cash Flows from Financing Activities: Cash receipts from borrowings 48,501,786,254.15 55,399,936,708.44 Other cash receipts relating to financing activities 1,388,211,744.11 560,519,918.25 Sub-total of cash inflows from financing activities 49,889,997,998.26 55,960,456,626.69 Cash repayments of borrowings 49,085,722,875.57 54,796,960,108.53 Cash payments for distribution of dividends or profits or settlement of interest expenses 8,266,185,078.78 6,726,569,619.92 Including: Payments for distribution of dividends or profits to minority shareholders of subsidiaries 838,694,582.50 621,373,410.00 Other cash payments relating to financing activities 2,252,980,824.30 1,837,334,629.96 Sub-total of cash outflows from financing activities 59,604,888,778.65 63,360,864,358.41 Net cash flow from financing activities -9,714,890,780.39 -7,400,407,731.72 IV. Effect of Foreign Exchange Rate Changes on Cash and Cash Equivalents 53,425,617.93 -275,939,272.28 V. Net Increase in Cash and Cash Equivalents 3,388,070,158.81 1,000,646,860.40 Add: Opening balance of cash and cash equivalents 27,280,717,697.81 26,118,763,976.52 VI. Closing Balance of Cash and Cash Equivalents 30,668,787,856.62 27,119,410,836.92 Luoyang City, Henan Province, the People ’s Republic of China 24 October 2025 As at the date of this announcement, the Company ’s executive directors are Mr. Liu Jianfeng and Mr. Que Chaoyang; the Company ’s non-executive directors are Mr. Lin Jiuxin and Mr. Jiang Li; and the Company ’s independent non-executive directors are Mr. Wang Kaiguo, Ms. Gu Hongyu and Mr. Cheng Gordon.