江 铃Ｂ：2025年年度报告（英文版）

2025Annual Report 2026-03 Chapter IImportant Notes, Contents and Abbreviations Important NoteThe Board of Directors and its members, and the senior executives are jointly and severally liable for the truthfulness, accuracy and completeness of the informationdisclosed in the report and confirm that the information disclosed herein does notcontainany false statement, misrepresentation or major omission. Chairman Qiu Tiangao, CFOLi Weihuaand Chief of Finance Department, HuHanfeng, confirm that the Financial Statements in this Annual Report are truthfuland complete. All Directors were presentat the Board meeting to review this Annual Report. Future plans, development strategies and other forward-looking statements in thisreport do not constitute a substantial commitment of the Company to investors.Investors are advised to pay attention toinvestment risks. The Company's possible risks and countermeasures are described in Section 3 ofthis report, "Management Discussion and Analysis". Please investors pay attentionto the relevant content. The Annual Report is prepared in Chinese and English. In case of discrepancy,the Chinese version will prevail. The year 2025profit distribution proposal approved by the Board of Directors is asfollows: A cash dividend of RMB5.5581(including tax) will be distributed for every 10shares held based onthe total share capital of 854,581,922shares, and there isno stock dividend. The Board decided not to convert capital reserve to sharecapital this time. Contents Chapter IImportantNotes, Contents and Abbreviations..........................2Chapter IIBrief Introduction and Operating Highlight................................5Chapter IIIManagement Discussion and Analysis.....................................10Chapter IVCorporate Governance StructureEnvironment and Social.....33Chapter VMajor events................................................................................55Chapter VIShare Capital Changes & Shareholders....................................60ChapterVII Bond related Information...........................................................66ChapterVIII Financial Statements..................................................................67 Catalogue on Documents for Reference 1. Originals of 2025financial statements signed by legalrepresentative,ChiefFinancial OfficerandChief of Finance Department.2. Originals of the Independent Auditor’s Reports signed by independentaccountants and stamped by the accounting firm.3. Originals of all the documents and public announcements disclosed innewspapers designated by CSRC in 2025.4. The Annual Report in the China GAAP. Abbreviations:CSRCJMCGFordJICJMC or the CompanyJMCHEVPCFOVP China Securities Regulatory CommissionJiangling Motors Group Co., Ltd.Ford Motor CompanyNanchang Jiangling Investment Co., Ltd.Jiangling Motors Corporation, Ltd.JMC Heavy Duty Vehicle Co., Ltd.Executive Vice PresidentChief Financial OfficerVice President Chapter II Brief Introduction and Operating Highlight 1.Company’s Information 2.Contact Person andMethod 3.Information Disclosure and Place for Achieving Annual Report 4.Changes of Registration 5.Other Information Accounting Firm Appointed by JMC for AuditNameErnst & Young Hua Ming LLP The recommendation agency engaged by the Company executing the persistentsupervision responsibilities in the reporting period□ApplicableNot Applicable The financial consultant engaged by theCompany performing the duties ofpersistent supervision and guidance in the reporting period □ApplicableNot Applicable 6.Main accounting data and financial ratios The lower of theaudited total profit, the auditednet profit, and the audited netprofitafterdeductingnon-recurring gains and losses is negative□YesNo 7.Accounting data difference between China GAAP and IFRS I. Differences in net profit and net assets in financial statements between inaccordancewith international accounting standards and Chinese accountingstandards□ApplicableNot Applicable II. Differences in netprofit and net assets in financial statements between inaccordancewith overseas accounting standards and Chinese accountingstandards□ApplicableNot Applicable 8. Main accounting data quarterly Unit: RMB 9. Non-recurring profit and loss items and amountsApplicable□Not Applicable Unit: RMB There is no other profit and loss items that meet the definition of non-recurringprofit and loss in theCompany. The description of that the non-recurring profit and loss items listed in CorporateInformation Disclosure of Public Issuing Securities No.1 are defined as recurringprofit and loss items□ApplicableNot Applicable The Company does not have asituation in which the non-recurring profit and lossitems listed in No.1 of Corporate Information Disclosure Announcement No.1 aredefined as recurring profit and loss. Chapter IIIManagement Discussion and Analysis 1.Company’s Core Business during the Reporting PeriodDuring the reporting period, the Company's m