南 玻Ｂ：2025年年度报告（英文版）

ANNUALREPORT2025 ChairmanoftheBoard:CHENLIN April2026 SectionI.ImportantNotice,ContentandParaphrase Theboardofdirectors,directorsandseniormanagementoftheCompanywarrantthattheannualreportistrue,accurateandcomplete,andthatitcontainsnofalserecords,misleadingstatementsormaterialomissions,andtheyassumeindividualandjointlegalliabilitiesaccordingly. Ms.ChenLin,thechairmanoftheBoard,Ms.WangWenxin,thepersoninchargeofaccountingwork,andMs.WangWenxin,thepersoninchargeoftheaccountingdepartment(ChiefFinancialOfficer),herebydeclarethattheyguaranteethefinancialreportcontainedinthisannualreporttobetrue,accurate,andcomplete. Alldirectorshaveattendedtheboardmeetingthatconsideredandapprovedthisreport. Forward-lookingstatementsinvolvingfutureplansreferredtointheCompany’sannualreportdonotconstitutesubstantivecommitmentsbytheCompanytoinvestors.Investorsandrelatedpartiesshouldmaintainsufficientriskawarenesswithrespecttosuchstatementsandshouldunderstandthedifferencesbetweenplans,forecasts,andcommitments. TheCompanyhassetforthindetailtheriskfactorsandcountermeasuresrelatingtoitsfuturedevelopmentinthisreport.PleaserefertoSectionIII,ManagementDiscussionandAnalysis. TheCompanyisrequiredtocomplywiththedisclosurerequirementsrelatingto‘Non‑metallicBuildingMaterialsRelatedBusinesses’setforthintheSelf-RegulatoryGuidelinesforListedCompaniesofShenzhenStockExchangeNo.3–IndustryInformationDisclosure. TheprofitdistributionproposalapprovedbytheBoardofDirectorsatthismeetingisasfollows:Basedon2,989,630,473shares,whichisthetotalsharecapitaloftheCompanyof3,070,692,107sharesasofDecember31,2025,minus81,061,634sharesheldintheCompany’srepurchasespecialaccount,acashdividendofRMB0.2(pre-tax)per10shareswillbedistributedtoallshareholders,withnobonusshares(pre-tax)andnocapitalizationofreservesintosharecapital.ThefinalactualtotalamountofcashdividenddistributedbytheCompanyshallbedeterminedbasedonthetotalsharecapitalontherecorddatewhentheprofitdistributionplanisimplemented. ThisreportispreparedbothinChineseandEnglish.ShouldtherebeanyinconsistencybetweentheChineseandEnglishversions,theChineseversionshallprevail. Content SectionI.ImportantNotice,ContentandParaphrase....................................................1SectionII.CompanyProfileandKeyFinancialIndicators...........................................5SectionIII.ManagementDiscussionandAnalysis.......................................................9SectionIV.CorporateGovernance,EnvironmentandSociety...................................41SectionV.ImportantEvents.........................................................................................60SectionVI.ChangesinSharesandParticularsaboutShareholders............................86SectionVII.Bond-relatedsituation..............................................................................94SectionVIII.FinancialReport.....................................................................................95 DocumentsAvailableforInspection (1)FinancialstatementssignedandsealedbythechairmanoftheBoard,thepersoninchargeofaccountingwork,andthepersoninchargeoftheaccountingdepartment(ChiefFinancialOfficer). (2)Originalcopyoftheauditreportsignedandsealedbythecertifiedpublicaccountantsandsealedbytheaccountingfirm. (3)TheoriginalsofallcompanydocumentsandtheoriginalmanuscriptsofannouncementsthatwerepubliclydisclosedonthewebsitesdesignatedbytheChinaSecuritiesRegulatoryCommissionduringthereportingperiod. Definitions SectionII.CompanyProfileandKeyFinancialIndicators I.CompanyInformation II.ContactPersonsandContactInformation III.InformationDisclosureandDocumentInspectionLocation IV.ChangesinRegistration V.OtherRelevantInformation AccountingFirmEngagedbytheCompany SponsorInstitutionEngagedbytheCompanytoPerformContinuousSupervisionDutiesDuringtheReportingPeriod□ApplicableNotapplicable FinancialAdvisorEngagedbytheCompanytoPerformContinuousSupervisionDutiesDuringtheReportingPeriod□ApplicableNotapplicable VI.KeyAccountingDataandFinancialIndicators WhethertheCompanyisrequiredtoretrospectivelyadjustorrestateaccountingdataofprioryears □YesNo Thelowerofnetprofitbeforeandafterdeductingnon-recurringgainsandlosseswasnegativeforeachoftheCompany’slastthreefiscalyears,andtheauditreportforthemostrecentfiscalyearindicatesthatthereismaterialuncertaintyabouttheCompany’sabilitytocontinueasagoingconcern. □YesNo Duringthereportingperiod,thelowestoftheCompany’sauditedtotalprofit,netprofit,andnetprofitafterdeductingnon-recurringgainsandlosseswasnegative. Yes□No VII.DifferencesinAccountingDataUnderDomesticandOverseasAccountingStandards 1.DifferencesinnetprofitandnetassetsasdisclosedinfinancialreportspreparedunderInternationalFinancialReportingStandards(IFRS)andthosepreparedunderChinaAccountingStandards □ApplicableNotapplicable TherewerenodifferencesinnetprofitandnetassetsasdisclosedinfinancialreportspreparedunderIFRSandthosepreparedunderChinaAccountingStandardsduringthereportingperiod. 2.Differencesinnetprofitandnetassetsasdisclosedinfinancialreportsprepa