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. Yangtze Optical Fibre and Cable Joint Stock Limited Company* ʮ̡ (a joint stock limited company incorporated in the People ’s Republic of China with limited liability) (Stock Code: 6869) 2025 THIRD QUARTERLY REPORT This announcement is issued by Yangtze Optical Fibre and Cable Joint Stock Limited Company* ʮ̡ (the “Company ”, together with its subsidiaries, the “Group ”) pursuant to the Inside Information provision under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule 13.09(2)(a) and Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The 2025 Third Quarterly Report of the Group as of 30 September 2025 (the “Third Quarterly Report ”) contained in this announcement has been prepared in accordance with China Accounting Standards of Business Enterprises and the requirements on preparation and disclosure of quarterly report issued by China Securities Regulatory Commission and has not been audited, which has been approved by the board of directors (the “Board ”) of the Company. I. IMPORTANT NOTICE 1.1 The Board, board of supervisors, directors, supervisors and senior management officers of the Company undertake the authenticity, accuracy and completeness of the contents contained in the Third Quarterly Report without false representation, misleading statement or material omission, and they jointly and severally accept full responsibility. 1.2 All directors of the Company have attended the board meeting to approve the Third Quarterly Report. 1.3 Ma Jie, the legal representative of the Company, Zhuang Dan, the person in charge of the accounting affairs, and Jinpei Yang, the head of the accounting department (accounting director) warrant that the financial statements contained in the Third Quarterly Report are authentic, accurate and complete. 1.4 The Third Quarterly Report of the Company is unaudited. * For identification purpose only
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2 II. CORPORATE INFORMATION 2.1 Major financial data Expressed in Renminbi ( “RMB”) Items For the reporting period Increase or decrease compared to the same period of last year (%) From the beginning of the year to the end of the reporting period Increase or decrease compared to the same period of last year (%) (Unaudited) (Unaudited) Operating income 3,890,827,953 16.27 10,275,302,680 18.18 Profit before income tax 289,212,573 37.23 675,532,954 21.09 Net profit for the period attributable to equity shareholders of the Company 173,934,626 (10.89) 469,677,851 (18.02) Net profit for the period attributable to equity shareholders of the Company excluding non-recurring items 145,271,704 (22.75) 282,840,089 (8.15) Net cash generated from operating activities Not applicable Not applicable 1,815,930,696 144.10 Basic earnings per share (RMB/per share) 0.23 (11.54) 0.62 (18.42) Diluted earnings per share (RMB/per share) 0.23 (11.54) 0.62 (18.42) Weighted average return on equity (%) 1.45 Decrease 0.25 percentage 3.98 Decrease 1.03 percentage Total assets As at the end of the reporting period As at the end of the last year Increase or decrease compared to the end of last year (%) (Unaudited) (Audited) Total equity attributable to equity shareholders of the Company 34,864,410,977 31,726,719,925 9.89 Operating income 11,827,022,614 11,628,982,141 1.70 Note: “The reporting period ” refers to the three-month period from the beginning to the end of the quarter, the same below.
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3 2.2 Non-recurring items and amount √ Applicable ½ Not applicable Expressed in RMB Items For the reporting period From the beginning of the year to the end of the reporting period (Unaudited) (Unaudited) Gains or losses on disposal of non-current assets, including the reversal of previously recognized impairment losses 4,357,075 25,783,384 Government grants accounted into current gains or losses (other than government grants closely related to the businesses of the Company, and in a fixed or quantifiable amount in conformity with the common standards of the State) 45,695,640 119,736,983 Changes in fair value of financial assets and liabilities held for trading, and disposal of financial assets and liabilities held for trading and available-for-sale financial assets, other than those held for effective hedging related to normal operations 4,507,392 13,903,627 The investment cost of acquiring subsidiaries, associated enterprises and joint ventures is less than the income from the fair value of the identifiable net assets of the invested entity at the time of acquiring the investment – 69,602,867 Gains from debt destructuring – 7,462,201 Other items accorded with the definition of non-recurring profit or loss (8,554,585) (4,696,766) Less: Impact of income tax expenses 9,411,295 27,318,123 Impact on non-controlling interests (after tax) 7,931,305 17,636,411 Total 28,662,922 186,837,762
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4 2.3 Changes and reasons of main accounting data and financial indicators Items Change proportion (%) Main reasons Profit before income tax – for the reporting period 37.23 Because the growth in both revenue and gross profit margin during the reporting period, which resulted in the increase in gross profit amount. Net cash generated from operating activities – from the beginning of the year to the end of the reporting period 144.10 Because on one hand, the Company intensified its efforts in accounts receivable collection during the Period, effectively accelerating capital recovery; on the other hand, overseas business revenue grew at a higher rate than domestic revenue, while overseas customers generally have shorter payment terms compared to domestic customers. III. INFORMATION OF SHAREHOLDERS 3.1 Total number of shareholders, the shareholding of top ten shareholders and top ten tradable shareholders (or unrestricted shareholders) as at the end of the reporting period Unit: share Total number of shareholders 48,153 Percentage Restricted Pledged or locked-up Name of shareholders Shareholding (%) shareholding Status Numbers Nature of shareholders HKSCC Nominees Limited 351,482,003 46.38 0 Nil 0 Overseas legal person China Huaxin Post and TelecomTechnologies Co., Ltd. 179,827,794 23.73 0 Nil 0 State-ownedlegal person Wuhan Yangtze Communications Industry Group Co., Ltd 119,533,910 15.77 0 Nil 0 State-ownedlegal person Yangtze Optical Fibre and Cable Joint Stock Limited Company – 2025 Employee Share Ownership Plan 6,000,000 0.79 0 Nil 0 Others Wang xiuqian 4,093,890 0.54 0 Nil 0 Domestic natural person Bank of Communications Co., Ltd – Tebon Xinxing value flexible mixed Security Investment Fund 3,732,340 0.49 0 Nil 0 Others Hong Kong Securities Clearing Company Limited 3,187,388 0.42 0 Nil 0 Overseas legal person Kang xinming 3,012,033 0.40 0 Nil 0 Domestic natural person Wang shengjun 2,053,038 0.27 0 Nil 0 Domestic natural person Ningbo Ruitu Business Management Consulting Partnership Enterprise 1,625,555 0.21 0 Nil 0 Others
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5 Shareholding of top ten unrestricted shareholders Number of unrestricted tradable Class and number of shares Name of shareholders shares held Class Numbers HKSCC Nominees Limited 351,482,003 Overseas listed foreign shares 351,482,003 China Huaxin Post and TelecomTechnologies Co., Ltd. 179,827,794 RMB ordinary shares 179,827,794 Wuhan Yangtze Communications Industry Group Co., Ltd 119,533,910 RMB ordinary shares 119,533,910 Yangtze Optical Fibre and Cable Joint Stock Limited Company – 2025 Employee Share Ownership Plan 6,000,000 RMB ordinary shares 6,000,000 Wang xiuqian 4,093,890 RMB ordinary shares 4,093,890 Bank of Communications Co., Ltd – Tebon Xinxing value flexible mixed Security Investment Fund 3,732,340 RMB ordinary shares 3,732,340 Hong Kong Securities Clearing Company Limited 3,187,388 RMB ordinary shares 3,187,388 Kang xinming 3,012,033 RMB ordinary shares 3,012,033 Wang shengjun 2,053,038 RMB ordinary shares 2,053,038 Ningbo Ruitu Business Management Consulting Partnership Enterprise 1,625,555 RMB ordinary shares 1,625,555 Explanation of associations or actions in concert among the above shareholders Not applicable Explanation of holders of preferred shares with resumed voting right and the number of shares held Not applicable 3.2 Total number of and top ten holders of preference shares and their unrestricted shareholdings as at the end of the reporting period ½ Applicable √ Not applicable
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6 IV. OTHER REMINDERS Other important information about the company ’s operation in the reporting period that needs to be reminded of investors ’ attention ½ Applicable √ Not applicable By order of the Board Yangtze Optical Fibre and Cable Joint Stock Limited Company* ʮ̡ Ma Jie Chairman Wuhan, PRC, 30 October 2025 As at the date of this announcement, the Board comprises Mr. Zhuang Dan as executive Director; Mr. Ma Jie, Mr. Guo Tao, Mr. Hamavand Rayomand Shroff, Mr. Pier Francesco Facchini, Mr. Lars Frederick Persson and Mr. Mei Yong, as non-executive Directors; Mr. Bingsheng Teng, Mr. Song Wei, Ms. Li Chang ’ai and Mr. Tsang Hin Fun Anthony, as independent non-executive Directors. * For identification purpose only
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7 V. APPENDIX 5.1 Financial statements Consolidated Balance Sheet Prepared by: Yangtze Optical Fibre and Cable Joint Stock Limited Company* Expressed in RMB Items 30 September 2025 31 December 2024 (Unaudited) (Audited) Current assets: Cash at bank and on hand 3,741,191,443 3,292,561,410 Financial assets held for trading 1,932,696,181 1,437,470,518 Bills receivable 690,147,027 698,669,573 Accounts receivable 5,861,570,231 5,261,588,627 Receivables under financing 219,066,831 136,084,824 Prepayments 221,889,887 128,663,832 Other receivables 125,229,419 117,413,239 Inventories 3,402,409,778 3,175,767,390 Other current assets 331,744,457 368,907,962 Total current assets 16,525,945,254 14,617,127,375 Non-current assets: Long-term receivables 1,401,519 2,034,634 Long-term equity investments 2,505,820,220 2,793,658,026 Investments in other equity instruments 575,291,774 55,221,345 Other non-current financial assets 22,773,151 53,754,103 Fixed assets 9,205,548,290 8,457,953,448 Construction in progress 2,158,665,818 2,082,556,415 Right-of-use assets 45,299,153 77,928,103 Intangible assets 1,765,794,371 1,707,185,779 Goodwill 962,294,649 931,214,501 Long-term deferred expenses 76,973,967 76,997,949 Deferred tax assets 656,974,159 528,382,387 Other non-current assets 361,628,652 342,705,860 Total non-current assets 18,338,465,723 17,109,592,550 Total assets 34,864,410,977 31,726,719,925
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8 Items 30 September 2025 31 December 2024 (Unaudited) (Audited) Current liabilities: Short-term loans 2,307,257,588 2,000,409,684 Bills payable 1,424,173,993 1,173,208,011 Accounts payable 2,248,863,824 1,960,566,791 Contract liabilities 551,354,372 270,205,028 Employee benefits payable 402,774,840 360,036,136 Taxes payable 217,824,439 277,024,243 Other payables 2,215,721,576 1,727,644,743 Non-current liabilities due within one year 2,689,070,393 2,551,031,336 Other current liabilities 38,896,354 24,920,005 Total current liabilities 12,095,937,379 10,345,045,977 Non-current liabilities: Long-term loans 4,779,238,745 4,790,701,086 Debenture payables 500,932,797 – Lease liabilities 87,025,987 108,610,402 Long-term payables 112,175,884 – Deferred income 532,221,368 432,186,877 Deferred tax liabilities 270,604,146 273,272,050 Other non-current liabilities 313,323,465 195,611,644 Total non-current liabilities 6,595,522,392 5,800,382,059 Total liabilities 18,691,459,771 16,145,428,036 Shareholders ’ equity: Share capital 757,905,108 757,905,108 Capital reserve 3,359,322,878 3,147,307,600 Less: Treasury stock 197,319,684 – Other comprehensive income (57,474,552) 26,273,869 Specific reserve 784,859 250,841 Surplus reserve 733,422,825 733,422,825 Retained earnings 7,230,381,180 6,963,821,898 Total equity attributable to shareholders of the Company 11,827,022,614 11,628,982,141 Non-controlling interests 4,345,928,592 3,952,309,748 Total equity 16,172,951,206 15,581,291,889 Total liabilities and shareholders ’ equity 34,864,410,977 31,726,719,925 Legal representative of the Company: The person in charge of accounting affairs: The head of the accounting department: Ma Jie Zhuang Dan Jinpei Yang
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9 Consolidated Income Statement Prepared by: Yangtze Optical Fibre and Cable Joint Stock Limited Company* Expressed in RMB For the nine months ended 30 September Items 2025 2024 (Unaudited) (Unaudited) I. Operating income 10,275,302,680 8,694,498,588 II. Operating costs 7,313,380,286 6,276,388,801 Taxes and surcharges 76,659,687 66,467,628 Selling and distribution expenses 402,552,024 336,251,225 General and administrative expenses 821,928,777 763,345,233 Research and development expenses 607,156,930 559,041,862 Financial expenses 160,245,819 121,724,316 Including: Interest expenses 187,345,220 181,489,473 Interest revenue 33,889,949 69,636,258 Add: Other income 147,900,995 153,181,634 Investment losses (143,352,726) (180,177,990) Including: Losses from investment in associates and joint ventures (220,059,256) (196,242,772) Gains from changes in fair value (5,146,181) 4,272,847 Credit losses (186,778,549) (84,790,279) Impairment losses (100,341,364) (81,691,081) Losses from asset disposals 4,875,185 (8,338,978) III. Operating profit 610,536,517 373,735,676 Add: Non-operating income 80,705,107 202,188,628 Less: Non-operating expenses 15,708,670 18,064,226 IV. Profit before income tax 675,532,954 557,860,078 Less: Income tax expenses 134,686,280 38,134,061 V. Net profit for the period 540,846,674 519,726,017 Net profit for the year attributable to the shareholders of the Company 469,677,851 572,937,218 Non-controlling interests 71,168,823 (53,211,201)
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10 For the nine months ended 30 September Items 2025 2024 (Unaudited) (Unaudited) VI. Other comprehensive income, net of tax (83,308,788) 3,775,152 1. Other comprehensive income (net of tax) attributable to shareholders of the Company (83,748,421) (1,439,739) (1) Items that will not be reclassified to profit or loss (72,399,639) (17,142,202) i Changes in fair value of investments in other equity instruments (72,399,639) (17,142,202) (2) Items that may be reclassified subsequently to profit or loss (11,348,782) 15,702,463 i Other comprehensive income recognized under the equity method 522,677 – ii Cash flow hedge reserve 3,916,404 – iii Translation differences arising from translation of foreign currency financial statements (15,787,863) 15,702,463 2. Other comprehensive income (net of tax) attributable to non-controlling interests 439,633 5,214,891 VII. Total comprehensive income for the period 457,537,886 523,501,169 1. Total comprehensive income attributable to shareholders of the Company 385,929,430 571,497,479 2. Total comprehensive income attributable to non-controlling interests 71,608,456 (47,996,310) VIII. Earnings per share: 1. Basic earnings per share (RMB/per share) 0.62 0.76 2. Diluted earnings per share (RMB/per share) 0.62 0.76 Legal representative of the Company: The person in charge of accounting affairs: The head of the accounting department: Ma Jie Zhuang Dan Jinpei Yang
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11 Consolidated statement of Cash Flow Prepared by: Yangtze Optical Fibre and Cable Joint Stock Limited Company* Expressed in RMB For the nine months ended 30 September Items 2025 2024 (Unaudited) (Unaudited) I. Cash flows from operating activities: Proceeds from sale of goods and rendering of services 10,468,663,688 9,065,815,479 Refund of taxes 280,764,085 179,456,874 Proceeds from other operating activities 652,353,846 292,796,191 Sub-total of cash inflows 11,401,781,619 9,538,068,544 Payment for goods and services 7,106,374,376 6,822,181,819 Payment to and for employees 1,483,624,192 1,374,221,141 Payment of various taxes 611,270,162 388,309,114 Payment for other operating activities 384,582,193 209,423,124 Sub-total of cash outflows 9,585,850,923 8,794,135,198 Net cash inflow from operating activities 1,815,930,696 743,933,346 II. Cash flows from investing activities: Proceeds from disposal of investments 6,378,389,413 2,766,496,533 Investments returns received 88,663,388 154,475,334 Net proceeds from disposal of fixed assets, intangible assets and other long-term assets 5,683,267 26,389,015 Proceeds from other investing activities – 42,465,226 Sub-total of cash inflows 6,472,736,068 2,989,826,108 Payment for acquisition of fixed assets, intangible assets and other long-term assets 859,432,962 943,684,495 Payment for acquisition of investments 7,452,666,321 4,178,362,299 Net cash paid for acquiring subsidiaries and other business units 391,166,233 – Payment for other investing activities 505,789 – Sub-total of cash outflows 8,703,771,305 5,122,046,794 Net cash outflow from investing activities (2,231,035,237) (2,132,220,686)
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12 For the nine months ended 30 September Items 2025 2024 (Unaudited) (Unaudited) III. Net cash outflow from investing activities Proceeds from investors 870,671,463 288,034,917 Including: Cash received by subsidiaries from absorbing minority shareholder investments 870,671,463 288,034,917 Proceeds from borrowings 4,623,525,907 4,296,850,247 Proceeds from other investing activities 101,820,000 – Sub-total of cash inflows 5,596,017,370 4,584,885,164 Repayments of borrowings 3,760,655,204 2,802,293,000 Payment for dividends, profit distributions or interest 417,379,053 587,279,280 Including Payment for dividends, profit distributions to non-controlling interests by subsidiaries 33,557,310 18,425,292 Payment for other financing activities 656,644,666 564,323,493 Sub-total of cash outflows 4,834,678,923 3,953,895,773 Net cash inflow from financing activities 761,338,447 630,989,391 IV. Effect of foreign exchange rate changes on cash and cash equivalents 3,526,167 1,490,629 V. Net increase/(decrease) in cash and cash equivalents 349,760,073 (755,807,320) Add: Cash and cash equivalents at the beginning of the period 3,229,614,208 3,774,557,783 VI. Cash and cash equivalents at the end of the period 3,579,374,281 3,018,750,463 Legal representative of the Company: The person in charge of accounting affairs: The head of the accounting department: Ma Jie Zhuang Dan Jinpei Yang 5.2 Auditor ’s report ½ Applicable √ Not applicable