深粮B：2025年年度报告（英文版）

SHENZHEN CEREALS HOLDINGS CO.,LTD. ANNUAL REPORT 2025 【April 2026】 Section I. Important Notice, Contents and Interpretation The Board of Directors, all directors, and senior executives of SHENZHEN CEREALSHOLDINGS CO., LTD. (hereinafter referred to as “the Company”) hereby confirm thatthere are no fictitious statements, misleading statements, or important omissions carried inthis report, and shall take all responsibilities, individual and/or joint, for the reality, accuracyand completion of the whole contents. Principal of the Company Wang Zhikai, Head of Accounting Lu Yuhe and Head ofAccountingInstitution(Accounting Supervisor)Lu Chengjun hereby confirm that theFinancial Report of Annual Report 2025 is authentic, accurate and complete. All Directors have attended the Board Meeting for deliberation of this Report. Concerning the forward-looking statements with future planning involved in the annualreport, they do not constitute a substantial commitment for investors.Securities Times,ChinaSecurities Journal，Shanghai Securities Journaland website CNINFO (www.cninfo.com.cn)are the media appointed by the Company for information disclosure. All information of theCompany disclosed in the above mentioned media should prevail. Investors are advised toexercise caution regarding investment risks. TheCompany has analyzed the risk factors that the Company may exist and itscountermeasuresin the report.Investors are advised to read“Prospect for futuredevelopment of the Company” in the report of Section III Management Discussion andAnalysis. This report has been prepared in Chinese and English version respectively. In theevent of difference in interpretation between the two versions, Chinese report shall prevail. The profit distribution plan that was deliberated and approved by the Board Meeting is:based on total share capital of 1,152,535,254 shares, distributed cash bonus of 1.20 yuan (taxinclusive) for every 10 shares, 0 share bonus issued (tax inclusive) and no transfer of capitalreserve into share capital. Contents Section I. Important Notice, Contents and Interpretation............................................................................................ 2Section II Company Profile and Main Financial Indexes............................................................................................ 6Section III Management Discussion and Analysis.....................................................................................................11Section IV Corporate Governance..............................................................................................................................28Section V. Important Events.......................................................................................................................................48Section VI. Changes in Shares and Particulars about Shareholders.......................................................................... 75Section VII. Corporate Bonds.....................................................................................................................................83Section VIII. Financial Report....................................................................................................................................84 Documents Available for Reference 1. Text of financial statement with signature and seals of legal person, person in charge of accounting works andperson in charge of accounting institution; 2. Original audit report with seal of accounting firm and signature and seal of the CPA; 3. Original and official copies of all documents which have been disclosed onSecurities Times, China Securities,Shanghai Securities Journaland website CNINFO (www.cninfo.com.cn) in the reporting period; 4. Original copies of 2025 Annual Report with signature of the legal representative. Interpretation Section II Company Profile and Main Financial Indexes I. Company information II. Person/Way to contact III. Information disclosure and preparation place IV. Registration changes of the Company V. Other relevant information □ ApplicableNot applicable Financial consultant engaged by the Company for performing continuous supervision duties in reporting period□ ApplicableNot applicable VI. Main accounting data and financial indexes Whether the company has retroactive adjustment or re-statement on previous accounting data or not? □YesNo Notes: 1.The year-on-year decrease in net profit attributable to shareholders of the listed company is mainly due to the surplus ofspecial-purpose financial funds obtained in previous years being included in taxable income for the reporting period with afive-year deferral, as well as special-purpose financial funds obtained in the current year being directly included in taxableincome for the reporting period, resulting in a year-on-year increase in income tax expenses during the reporting period. Fordetails, see “VI. Tax” in the Section III Financial Report”. 2