京粮B：2025年年度报告（英文版）

ANNUALREPORT2025 HAINANJINGLIANGHOLDINGSCO.,LTD.ANNUALREPORT2025 PartIImportantNotes ThisReportisbased onthefullAnnualReportofHainanJingliangHoldingsCo.,Ltd.(togetherwith itsconsolidatedsubsidiaries,the"Company",exceptwherethecontextotherwiserequires).TogainacomprehensiveunderstandingoftheCompany'soperatingresults,financialposition,andfuturedevelopmentplans,investorsareadvisedtocarefullyreviewthefullAnnualReportonthedesignatedmediaspecifiedbytheChinaSecuritiesRegulatoryCommission(the"CSRC"). ThisReport has been prepared in both Chinese and English.Should there be any discrepancies ormisunderstandingsbetweentheChineseandEnglishversions,theChineseversionshallprevail. AlltheCompany'sdirectorshaveattendedtheboardmeetingforthereviewofthisreportanditssummary. Independentauditor'smodifiedopinion ApplicableNotapplicable Board-approvedprofitdistributionplanorproposaloncapitalizingcapitalreserveintosharecapitalforthereportingperiod ApplicableNotapplicable TheCompanyproposesnottodistributeanycashdividends,issueanybonusshares,orconvertanycapitalreserveintosharecapital. Board-approvedprofitdistributionplanforpreferredsharesforthereportingperiod ApplicableNotapplicable PartIIKeyCorporateInformation 1.CompanyProfile 2.PrincipalActivitiesorProductsintheReportingPeriod (1)Principalbusinessoperations OurCompany'sprincipalbusinessoperationscompriseoilandoilseedsprocessingandfoodprocessing.Oilandoilseedsprocessing:Thisprimarilyinvolvestherefining,packaging,andmarketingofcrudeoils,aswellasthepressing,refining,packaging,andmarketingofoilseedssuchassesame,soybeans,andpeanuts.FoodProcessing:ThisprimarilyfocusesonR&D,production,andsalesofsnackfoodsandbakeryproducts. (2)Company'smajorproducts TheCompany'soilsandoilseedsprocessingbusinessfeaturesbrandssuchas"LvBao""GuBi"and"HuoNiao",withprincipalproductsincludingsoybeanoil,cornoil,sunflowerseedoil,peanutoil,rapeseedoil,flaxseedoil,oliveoil,sesameoil,andsesamepasteetc. TheCompany'sfoodprocessingbusinessfeaturesbrandssuchas"XiaoWangzi","DongXiaojie","JianqiangdeTudouzai",and"GuChuan",offeringproductslikepotatochips,pastries,andbread. (3)Industrydevelopmentsandtrends AccordingtotheIndustryClassificationGuidelinesforListedCompanies,theCompanyfallsunderthemajorcategoryofManufacturing-ProcessingofFarmandSidelineFoodProducts(Code:C13).Specifically,itsprimaryindustrysegmentisvegetableoilprocessing,withthefoodprocessingbusinessalsocontributingasignificantportionofthegrossprofit. ①StatusandFutureTrendsintheVegetableOilProcessingIndustry Duringthereportingperiod,thevegetable oilprocessingindustrymaintainedstable overalloperation.Theindustrystructurecontinuedtoevolvetowardsgreaterconsolidation,environmentalsustainability,functionaldiversification,andsmartmanufacturing.Domesticconsumptionofediblevegetableoilsapproachedsaturation,whileinternationalpricevolatilityandevolvingenvironmentalpoliciespersistentlytestedtheindustry'scostcontrolandsupplychain resilience.Consumerdemandaccelerateditsshifttowardshealthierandpremiumproducts,withhigh-value-addedcategoriesshowingsignificantgrowth.Industrycompetitionintensified,shiftingfrompurecapacityexpansiontoafocusonefficiencyandquality.Leadingenterprisesacceleratedcapacityconsolidationandintegratedsupplychainlayouts,enhancingtheircorecompetitivenessthroughtechnologieslikelow-temperaturephysical refining,smart factories,full-chain traceability,and high-value utilization of by-products.Lookingahead,theindustrywillcontinuetofocusonsecuringsupplychains,adoptinggreenandlow-carbonproduction,drivingproductdifferentiation,andimplementingrefinedomnichanneloperations,aimingtobuildlong-termadvantagesinrawmaterialsecurity,technologicaladvancement,brandpremium,andsustainabledevelopment. ②StatusandFutureTrendsintheFoodProcessingIndustry Duringthereportingperiod,thefoodprocessingindustry(centeredonsnackfoods)demonstratedcharacteristicsofsteadygrowth,structuraloptimization,channelrestructuring,andinnovation-drivendevelopment.Themarketsizecontinuedtoexpand,accompaniedbyfurtherupgradesinconsumerdemand,wherefunctionalproductsbecameakeygrowthdriver.Deepintegrationemergedacrossdiscountsnackchannels,specialtysnackstores,instantretail,and live-streaming e-commerce,solidifying an integrated online-to-offline channel landscape.Competitionincreasinglyshiftedfromchanneladvantagestoproductstrengthandsupplychainefficiency.Facedwithintensifyinghomogenizedcompetition,risingcostpressures,andrapidlychangingconsumerpreferences,companiesmust prioritize product innovation,quality control,omnichannel management,and branddifferentiation.InvestinginR&D,flavorinnovation,packagingupgrades,andsupplychaindigitalizationwillbecrucialforreducingcostsandimprovingefficiency.Inthefuture,thefoodprocessingindustrywillcontinueevolvingtowards health and functionality,precise scenario targeting,intelligent production,and channelintegration.Snackfoodenterprisesmustcloselyfollowmarketdynamicsandbuild competitiveadvantagesthroughinnovation,operationalefficiency,andbrandpowertocapital