荣盛石化2026年半年度报告英文全文于9月10日刊出，归母净利润51.11亿元同比+748.83%，但内容与7月14日业绩预告及8月下旬中文半年报一致，无新增事实

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Section I Important Notice, Table of Contents and Definitions
The Board of Directors, the Directors and Senior Management of the
Company warrant that the contents in this semi-annual report are true, accurate,
and complete and have no false representations, misleading statements or
material omissions, and they will severally and jointly accept legal responsibility
for such contents.
Mr. Li Shuirong, Principal of the Company, Ms. Wang Yafang, Person in
Charge of Accounting Work, and Ms. Zhang Shaoying, Person in Charge of the
Accounting Department (Accounting Officer), hereby declare that they warrant
the truthfulness, accuracy, and completeness of the financial report in this semi-
annual report.
All Directors have attended the Board meeting to deliberate on the report.
The Company does not plan to distribute cash dividends, issue bonus shares
or convert capital reserves into share capital.
This semi-annual report has been prepared in both Chinese and English. In
case of any discrepancy between the two versions, the Chinese version shall
prevail.



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Contents
Section I Important Notice, Table of Contents and Definitions ............................. 1
Section II Company Profile and Key Financial Indicators ..................................... 5
Section III Management Discussion and Analysis ................................................... 8
Section IV Corporate Governance, Environment and Society ............................. 33
Section V Important Matters ................................................................................... 37
Section VI Changes in Shares and Shareholders ................................................... 75
Section VII Bonds ..................................................................................................... 82
Section VIII Financial Reports ................................................................................ 83




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Contents of Documents for Future Reference
(I) The financial statements containing signatures and seals of the person in charge of the Company, the person
in charge of accounting work and the person in charge of the Accounting Department (Accounting Officer);
(II) Written confirmation from Directors and Senior Management of the Company on the 2026 Semi-Annual
Report;
(III) The originals of all company documents and announcements that are disclosed to the public via media
designated by CSRC during the reporting period;
(IV) The place where the above-mentioned documents are maintained: Office of the Board of Directors.



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Definitions
Term
Refers to
Definition
Company, the Company,
Rongsheng Petrochemical
Refers to
Rongsheng Petrochemical Co., Ltd.
Rongsheng Holdings
Refers to
Zhejiang Rongsheng Holding Group Co., Ltd., controlling shareholder of the
Company
Rongtong Logistics
Refers to
Zhejiang Rongtong Logistics Co., Ltd., a subsidiary of the Company's controlling
shareholder
Saudi Aramco
Refers to
Saudi Arabian Oil Company, a shareholder holding 5% or more of the
Company’s shares
ZPC
Refers to
Zhejiang Petroleum & Chemical Co., Ltd., a subsidiary of the Company
Zhongjin
Petrochemical,
ZJPC
Refers to
Ningbo Zhongjin Petrochemical Co., Ltd., a subsidiary of the Company
Yisheng Investment
Refers to
Dalian Yisheng Investment Co., Ltd., a subsidiary of the Company
Shengyuan Chemical Fiber
Refers to
Zhejiang Shengyuan Chemical Fiber Co., Ltd., a subsidiary of the Company
Rongxiang Chemical Fiber
Refers to
Rongxiang Chemical Fiber Co., Ltd., a subsidiary of the Company
Hong Kong Shenghui
Refers to
Hong Kong Shenghui Co., Ltd., a subsidiary of the Company
Yongsheng Technology
Refers to
Zhejiang Yongsheng Technology Co., Ltd., a subsidiary of the Company
Rongsheng New Materials
(Zhoushan)
Refers to
Rongsheng New Materials (Zhoushan) Co., Ltd., a subsidiary of the Company
Rongsheng (Singapore)
Refers to
Rongsheng Petrochemical (Singapore) Pte. Ltd., a subsidiary of the Company
Zhejiang Yisheng
Refers to
Zhejiang Yisheng Petrochemical Co., Ltd., an associate of the Company
Hengyi Trading
Refers to
Ningbo Hengyi Trading Co., Ltd., an associate of the Company
Yisheng New Materials
Refers to
Zhejiang Yisheng New Materials Co., Ltd., a controlled subsidiary of Zhongjin
Petrochemical
Niluoshan New Energy
Refers to
Ningbo Niluoshan New Energy Co., Ltd., a subsidiary of Zhongjin Petrochemical
Yisheng Dahua
Refers to
Yisheng Dahua Petrochemical Co., Ltd., a subsidiary of Yisheng Investment
Hainan Yisheng
Refers to
Hainan Yisheng Petrochemical Co., Ltd., an associate of Yisheng Investment
The Securities Regulatory
Commission, CSRC
Refers to
China Securities Regulatory Commission
Stock Exchange, SZSE
Refers to
Shenzhen Stock Exchange
Yuan, 10,000 yuan
Refers to
RMB, RMB 10,000.00
Reporting period
Refers to
January 1, 2026 to June 30, 2026



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Section II Company Profile and Key Financial Indicators
I. Company Profile
Stock abbreviation
Rongsheng Petrochemical
Stock code
002493
Abbreviation before change (if
any)
None
Listed on
Shenzhen Stock Exchange
Company name in Chinese
荣盛石化股份有限公司
Company abbreviation in
Chinese
荣盛石化
Company name in the foreign
language (if any)
RONGSHENG PETROCHEMICAL CO., LTD.
Company abbreviation in foreign
language (if any)
RSPC
Company’s legal representative
Li Shuirong
II. Contact information

Secretary of the Board of Directors
Representative of securities affairs
Name
Quan Weiying
Hu Yangyang
Address
Lanjue International Office Building, No. 358
Jincheng Road, Xiaoshan District, Hangzhou
Lanjue International Office Building, No. 358
Jincheng Road, Xiaoshan District, Hangzhou
Telephone
0571-82520189
0571-82520189
Fax
0571-82527208 extension 8150
0571-82527208 extension 8150
E-mail
qwy@rong-sheng.com
yangyang@rong-sheng.com
III. Other Information
1. Company Contact Information
Whether the Company’s registered address, office address and postal code, website, email address and other contact
information changed during the reporting period
□ Applicable R Not applicable
The Company’s registered address, office address and postal code, website, email address and other contact
information remained unchanged during the reporting period. For details, please refer to the 2025 Annual Report.
2. Information Disclosure and Place Where the Report Is Available
Whether the information disclosure channels and the place where the report is available changed during the reporting
period
□ Applicable R Not applicable

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The website of the stock exchange on which the Company discloses its semi-annual report, the names and websites
of the media selected by the Company for information disclosure, and the place where the Company’s semi-annual
report is available remained unchanged during the reporting period. For details, please refer to the 2025 Annual
Report.
3. Other Relevant Information
Whether other relevant information changed during the reporting period
□ Applicable R Not applicable
IV. Key Accounting Data and Financial Indicators
Whether the Company needs to retroactively adjust or restate the accounting data of the previous years
□ Yes R No

This reporting period
Same reporting period
of the previous year
Increase or decrease of
this reporting period
compared with the
previous year
Operating revenue (RMB)
129,406,713,606.78
148,629,350,935.50
-12.93%
Net profit attributable to shareholders of the
listed company (RMB)
5,110,652,552.96
602,084,104.39
748.83%
Net profit attributable to shareholders of the
listed company excluding non-recurring
profit or loss (RMB)
5,343,525,369.10
754,957,891.58
607.79%
Net cash flow from operating activities
(RMB)
21,254,077,553.64
7,586,625,253.68
180.15%
Basic earnings per share (RMB per share)
0.53
0.06
783.33%
Diluted earnings per share (RMB per share)
0.53
0.06
783.33%
Weighted average return on net assets
11.13%
1.37%
9.76%

At the end of this
reporting period
At the end of 2025
Increase or decrease at
the end of this
reporting period
compared with the end
of the previous year
Total assets (RMB)
402,822,539,719.62
386,633,124,294.10
4.19%
Net assets attributable to shareholders of the
listed company (RMB)
47,653,523,410.47
43,593,522,953.92
9.31%
V. Differences in Accounting Data under Domestic and Foreign Accounting Standards
1. Differences in net profit and net assets in financial reports disclosed in accordance with international
accounting standards and China’s accounting standards
□ Applicable R Not applicable
In the reporting period of the Company, there is no difference in the net profit and net assets disclosed in the financial
report under international accounting standards and China’s accounting standards.

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2. Differences in net profit and net assets in financial reports disclosed in accordance with foreign accounting
standards and China’s accounting standards
□ Applicable R Not applicable
In the reporting period of the Company, there is no difference in the net profit and net assets disclosed in the financial
report under foreign accounting standards and China’s accounting standards.
VI. Items and Amounts of Non-recurring Profit or Loss
RApplicable □ Not applicable
Unit: RMB
Item
Amount
Profit or loss on disposal of non-current assets (including the write-off part of the provision for asset
impairment)
5,731,630.19
Government grants included in the current profit or loss (excluding those closely related to the Company's
normal business operations, granted in accordance with national policies, based on certain standards, and
having a continuous impact on the Company’s profit and losses)
13,985,643.04
Profit or loss arising from changes in the fair value of financial assets and financial liabilities held by non-
financial enterprises, and gains or losses arising from the disposal of financial assets and financial liabilities,
except for effective hedging activities related to the Company’s normal business operations
-359,403,400.67
Fund occupation fees charged to non-financial enterprises and recognized in current profit or loss
153,396.22
Profit or loss from entrusted investment or asset management
143,013.70
Other non-operating income and expenses other than the items set out above
-410,642.51
Other profit or loss items falling within the definition of non-recurring gain or loss
4,022,688.71
Less: Effect of income tax
-58,116,873.86
Effect on non-controlling interests (after tax)
-44,787,981.32
Total
-232,872,816.14
Other gain/loss items falling within the definition of non-recurring gain or loss:
□ Applicable R Not applicable
The Company has no other gain/loss items falling within the definition of non-recurring gain or loss
Explanation of the circumstances in which the non-recurring profit or loss items listed in the Explanatory
Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public - Non-
recurring Gains and Losses are defined as recurring gains and losses.
□ Applicable R Not applicable
The Company does not define any of the non-recurring profit or loss items listed in the Explanatory Announcement
No. 1 on Information Disclosure for Companies Offering Their Securities to the Public - Non-recurring Gains and
Losses as recurring gains and losses.


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Section III Management Discussion and Analysis
I. Main Businesses of the Company during the Reporting Period
(I) Industry Overview during the Reporting Period
In the first half of 2026, spillover effects from geopolitical conflicts intensified, commodity price volatility
increased, global supply chains underwent profound adjustments, and inflation and tight monetary policies
continued to exert pressure. Nevertheless, the global economy did not stall. The IMF forecast global economic
growth of 3.0% for the full year, with growth expected to recover to 3.4% in the following year, demonstrating
continued resilience. As the US dollar fluctuated at elevated levels, the policies of major central banks gradually
took effect. Although the external environment remained complex, momentum for recovery continued to build.
Amid these changes, the Chinese economy consolidated its foundation through stability and broke new ground
through progress. GDP grew by 4.7% year on year, including growth of 5.0% in the first quarter and 4.3% in the
second quarter, remaining within a reasonable range. Industrial output increased steadily, the industrial structure
continued to be optimized and upgraded, foreign trade remained buoyant, and exports of chemicals emerged as a
strong growth driver. Through its stability, the Chinese economy provided an anchor of certainty amid global
changes; through structural progress, it accumulated long-term momentum for high-quality development.
Building on this momentum, the petrochemical industry expanded output to secure supply and made flexible
adjustments to navigate changes, fully leveraging its strengths across the entire industrial chain. Crude oil output
increased by 0.9% year on year, further strengthening the resource foundation. Processing volumes were flexibly
adjusted, while export value rose significantly, helping safeguard the stability of global supply chains. Driven by
improved cost pass-through and stronger exports, industry profitability rebounded markedly. In the first half of the
year, profit of industrial enterprises above designated size in the industry increased by 18.7% year on year, while
profit in the chemical manufacturing sector surged by 67.8%, opening up broader opportunities for high-quality
development.
(II) Main Products of the Company during the Reporting Period
Rongsheng Petrochemical is one of China’s leading privately owned petrochemical enterprises, principally
engaged in the research and development, production and sales of various petroleum products, chemicals and
polyester products. The Company has established seven major production bases in the Bohai Economic Rim, the
Yangtze River Delta Economic Circle and the Hainan “Belt and Road” Economic Circle, forging five major
industrial chains covering polyester, engineering plastics, new energy, high-end polyolefins and special rubber. It
is one of Asia’s major producers of polyester, new energy materials, engineering plastics and high value-added
polyolefins, and possesses the world’s largest production capacities for chemicals such as PX and PTA.
Through technological innovation, green transformation and strategic deployment, the Company actively
responds to national policy directions and advances its transformation and upgrading. The Company has actively
developed a differentiated, high-end and green product portfolio covering new energy, new materials, organic
chemicals, synthetic fibers, synthetic resins, synthetic rubber, petroleum products and other fields, substantially
realizing the transformation from “a drop of oil to everything in the world.” Building on its existing world-scale
integrated refining and chemical complex and comprehensive upstream and downstream supporting facilities, the
Company continues to upgrade and improve its new materials industrial chain, thereby developing a more
diversified and resilient product portfolio.

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At present, the main products are shown in the following figure:


Note: products marked by dotted line / dotted box are products under planning.
(III) Management measures

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2026 marks the first year of the “15th Five-Year Plan” and a pivotal year for the Company to build on a new
starting point, deepen its strategic deployment, and accelerate its transformation and upgrading. During the reporting
period, the Board of Directors thoroughly implemented the new development philosophy and remained committed
to connecting with the world through openness, consolidating profitability through quality enhancement, driving
upgrading through digital and intelligent technologies, and achieving shared success through incentives. The
Company achieved operating revenue of RMB 129.407 billion in the first half of the year, with total profit reaching
RMB 10.86 billion, total assets reaching RMB 402.823 billion and EBITDA reaching RMB 24.705 billion.
Compared with the same period of the previous year, total assets grew by 4.9%, while total profit increased by
488.74% and EBITDA increased by 85.53%, representing marked improvements in operating cash flow and
earnings quality.
1. Global Connectivity: Deepening Cooperation and Expanding the Global Footprint
Rongsheng Petrochemical has consistently pursued high-end, intelligent and green development, coordinating
its overall development through scientific decision-making and accelerating the quality and pace of its high-end
industrial deployment. The Company further deepened its strategic cooperation with Saudi Aramco, with the two
parties carrying out comprehensive collaboration in areas including crude oil supply assurance, technology research
and development, and overseas market expansion. The Company also plans to work with Saudi Basic Industries
Corporation (SABIC) to make strategic investments in advanced new materials projects, introduce internationally
advanced processes and core technology systems, and further stimulate the Company’s innovation vitality. The
Company’s international industrial cooperation continued to deepen and deliver substantive results.
2. Industrial Synergy: Reducing Costs, Improving Efficiency, Extending the Industrial Chain and
Strengthening the Foundation
Rongsheng Petrochemical has consistently focused on its core petrochemical business, fully leveraging its
integrated advantages across the entire industrial chain. Internally, the Company continued to tap into its potential
for cost reduction and efficiency improvement. It advanced the tank farms and terminal engineering of the Jintang
Crude Oil Storage and Transportation Base in an orderly manner, significantly strengthening the resilience of its
logistics and storage operations. The Company also accelerated the Zhoushan-Ningbo Petrochemical Base
Interconnection Pipeline Project to achieve efficient coordination and connectivity among its three major production
bases.
Units under ZPC’s High-performance Resin Project were successively put into operation, further expanding
the Company’s production capacity for high-end chemical materials. At the Jintang New Materials Project in
Zhoushan, the offshore high-altitude lifting of China’s heaviest petrochemical pipe rack was successfully completed.
The Company continued to make solid progress in extending its industrial chain toward high-value-added products,
generating increasingly strong momentum for transformation and upgrading.
3. Innovation-Driven Growth: Advancing Digital and Intelligent Transformation and Delivering
Fruitful Results
Rongsheng Petrochemical has consistently placed innovation at the core of its development, with its research
and development investment intensity continuing to lead the industry. ZPC received multiple honors, including
recognition as a “Manufacturing Single Champion Enterprise” and a “Provincial Advanced Intelligent Factory.” Its
digitalization case was selected as an outstanding industry case, and its strong digital management capabilities
received authoritative recognition.
The Jintang New Materials Project pioneered an integrated construction model and set a new domestic record
for large-tonnage offshore lifting. Driven by digital and intelligent transformation together with engineering
innovation, the Company accelerated the conversion of innovation achievements into actual productive forces,
further consolidating its leading position in the petrochemical new materials sector.
4. Talent Cohesion: Diversified Incentives for Joint Creation and Shared Success

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Rongsheng Petrochemical has consistently implemented its strategy of strengthening the Company through
talent, establishing an employee incentive system and consolidating the foundation for talent development. The
Company formulated the Remuneration Management System for Directors and Senior Management, which is
aligned with its sustainable development. It scientifically determined remuneration allocation ratios across different
levels, with greater emphasis placed on key positions, frontline production employees, and urgently needed high-
level and highly skilled talent, while effectively improving the remuneration of general employees.
The Company launched its first Employee Stock Ownership Plan since its listing, with a total of 1,404
employees participating and aggregate funds of RMB 1.7 billion raised. The diversified and long-term incentive
mechanisms have fully stimulated the initiative and creativity of the management team and employees.
(IV) Operational synergy
1. Controlling shareholder
Rongsheng Holdings ranks 115th on the Fortune Global 500 list, 32nd among the Top 500 Chinese Enterprises,
7th among the Top 500 Chinese Manufacturing Enterprises, and 7th among the Top 500 Private Enterprises in China.
The Group currently owns listed companies including Rongsheng Petrochemical (stock code: 002493) and Ningbo
United (stock code: 600051), and operates in a wide range of sectors, including upstream oil and gas and trading,
coal, logistics, equipment manufacturing, process engineering technology, real estate and venture capital. Rongtong
Logistics, a subsidiary of the Group, is a national AAAA-level logistics enterprise with a mature and stable carrier
cooperation and operating platform. Suzhou Shenghui Equipment Co., Ltd., a company controlled by the Group,
specializes in the design, manufacture and sale of pressure vessels, cryogenic equipment, spherical tanks and marine
equipment. Shanghai Huanqiu Engineering Co., Ltd., an investee company of the Group, has extensive experience
in engineering, procurement and construction (EPC). A number of projects invested in by Zhejiang Rongsheng
Venture Investment Co., Ltd. have not only generated sound economic returns but also promoted synergy across
the industrial chain. In addition, a number of other investments are progressing steadily.
2. Strategic investors
Rongsheng Petrochemical and Saudi Aramco are positioned upstream and downstream of each other within
the industry and have established a solid foundation for cooperation. The two parties will conduct comprehensive
consultations and cooperation in areas including: ① Frontier technology sharing and cooperation: The two parties
will engage in sincere discussions on leveraging their respective strengths to achieve technological complementarity,
jointly develop new technologies, processes and equipment that meet future market demand, promote their
application in the market, and share the necessary research and development resources. ② Stable crude oil supply
assurance: Saudi Aramco has committed to supplying ZPC with 480,000 barrels per day of high-quality crude oil
and providing the Company with production feedstocks including naphtha, mixed xylene and straight-run fuel oil.
③ Interest-free purchase credit facility: Saudi Aramco will provide an interest-free purchase credit facility for a
term of 20 years in an amount of not less than USD 800 million. The credit facility may be increased during the
cooperation period, which will help improve ZPC’s capital utilization efficiency and have a positive impact on its
profitability. ④ Flexible cooperation in crude oil storage: The parties will engage in amicable consultations
regarding the Company’s provision of crude oil storage tanks and related facilities located in Zhoushan to Saudi
Aramco. Saudi Aramco will maintain crude oil inventories of not less than 1.5 million metric tons, helping safeguard
ZPC’s crude oil supply. ⑤ Extensive global sales channels: By leveraging Saudi Aramco’s overseas sales channels,
the Company can further expand the international market for its products and deepen strategic cooperation with
overseas customers. Similarly, by leveraging the resources that the Company has developed over many years, Saudi
Aramco can rapidly gain access to the relevant international and domestic markets.
The combination of the respective strengths of the two parties enables the forward positioning of raw material
supplies and the expansion of global sales channels, promotes resource sharing and industrial chain synergy, and

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facilitates the joint development of a mutually beneficial industrial ecosystem. As a practitioner of the Belt and
Road Initiative, Rongsheng Petrochemical is driven by both “going global” and “bringing in.” The Company has
established a strategic foothold in the Middle East and developed a supply chain network around the Indian Ocean,
while attracting long-term investments from international strategic investors into China, thereby injecting sustained
vitality into its continued development.
3. Refining and chemical sector
3.1. ZPC
With the goal of building a "private, green, international, trillion-level and flagship" base, ZPC's refining and
chemical integration project has been planned and unified at one time. At present, it has formed a world-class
refining and chemical integration base with a processing capacity of 40 million tons/year for oil refining, 8.8 million
tons/year for paraxylene and 4.2 million tons/year for ethylene, among which the single scale for hydrogenation,
reforming and PX is the largest in the world. The project is designed to maximize the refining and chemical
integration, provide high-quality raw materials for downstream chemical devices, maximize the production of
aromatic hydrocarbons (PX) and chemical products, and minimize the output of fuel. The yield of fuel is lower than
the industry average, with outstanding effect of reducing oil and increasing chemical. Meanwhile, through the
optimal utilization of energy resources such as steam and water, and full use of the low-temperature waste heat of
the device, it builds the world's largest thermal seawater desalination device to realize energy saving and emission
reduction. The refining and chemical integration rate of the project ranks first in the world, far higher than the
average level of petrochemical industry integration in China, and the scale and integration degree of the base are at
a leading position in the world.
ZPC's crude oil has strong adaptability, and can be stored according to light, medium, heavy and acid,
transported separately and refined separately. Combined with blending means, it can process 80%-90% of the global
crude oil, which greatly enhances its adaptability to oil price fluctuations and offers obvious advantages compared
with other domestic leading enterprises. It has flexible product structure, and mature and reliable technology, and
its main device scale and technical and economic indicators represent the most advanced level worldwide. As a
result of one-time overall planning, oil refining, aromatic hydrocarbon and ethylene fully demonstrate the concept
of "molecular oil refining" and make the best use of the material. All olefins are deeply processed into chemicals
with high import dependence, which makes them have stronger ability to cope with the industry cycle.
As the upstream industry of the polyester industry chain, ZPC has successfully established the last link of the
whole process from a drop of oil to a piece of fiber for the Company, and formed the great advantage of upstream
and downstream integration of the polyester industry. ZPC is located in Zhoushan, a part of East China, which is
the main consumer of terminal chemicals. The Yangtze River Delta contains about 70% of China's production
capacity of plastics and chemical fibers, with obvious regional advantages. Located in Zhejiang Free Trade Zone,
ZPC enjoys various preferential policies in the free trade zone and has continuously obtained the export quota of
refined oil; Yushan Island, where it is located, is an uninhabited island. Therefore, it is convenient for development
and utilization, and will have little impact on the surrounding society and broad development space in the future;
Being close to the consumer market, ZPC enjoys a prominent position advantage as a sea-land hub at the Ningbo-
Zhoushan port with convenient access to bulk materials and products, and a significantly low transportation cost.
Industrial AI has been deeply integrated into the core aspects of ZPC’s production and operations. ZPC has
constructed a new industrial intelligence system centered on "intelligent instrumentation + predictive maintenance
+ data governance," significantly enhancing production efficiency through data analysis and AI technologies. ZPC
has deployed an industrial control system with a scale of up to 1 million I/O points, fully supporting the synergistic
improvement of production efficiency, economic benefits, and safety levels, while driving the sustainable
development of the upstream and downstream industrial chains. Relying on over 1 million online instruments for
real-time monitoring of production processes, combined with robotic inspection, whole-process intelligent control

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systems, and intelligent safety risk control for the entire hazardous chemical transportation chain, ZPC has achieved
a unit operation stability rate of ≥98.5% and an automatic control rate for major refining and chemical units of ≥
99% (significantly higher than the global refinery average of approximately 80%). Furthermore, it has
comprehensively promoted the informationized, visualized, and intelligent management of safety access for
personnel, vehicles, and materials.
3.2. Zhongjin Petrochemical
Zhongjin Project, which was put into operation in August 2015, is an aromatic hydrocarbon combined plant
currently in service with leading single scale in the world. This project pioneered the process of making aromatic
hydrocarbon products with fuel oil (cheaper than naphtha) as raw material, and adopted a new technical route, which
can solve the shortage of global naphtha supply, greatly save the procurement cost of raw materials, introduce the
concept of "circular economy", and innovatively use the by-product hydrogen to process fuel oil into naphtha.
The new disproportionation catalyst jointly developed by Zhongjin Petrochemical and Tongji University has
successfully achieved its first industrial application on ZPC’s 2# disproportionation unit (3.5 million tons/year).
This catalyst features the excellent "Three Highs" characteristics of simultaneous high space velocity, high
selectivity, and a high conversion rate of heavy aromatics, while demonstrating superior operational stability. Its
comprehensive performance and technical indicators have reached the current advanced industry levels, enabling
import substitution. This reflects a staged progress in the Company's R&D and innovation capabilities and is of
great significance for continuously enhancing the operation of aromatics units, improving raw material conversion
efficiency, and achieving energy conservation and carbon reduction.
3.3. Rongsheng New Materials (Zhoushan)
As the expansion area of the Zhoushan Green Petrochemical Base, Rongsheng New Materials (Zhoushan)
relies on ZPC and Ningbo Zhongjin Petrochemical to extend the industrial chain downstream and develop fine
chemicals and new chemical materials. The interconnection planning among ZPC, Zhongjin Petrochemical, and
Jintang New Materials is a core strategy for Rongsheng Petrochemical to build a synergetic development of the
entire industrial chain of "refining-aromatics-high-end new materials." Through infrastructure interconnection,
industrial chain extension, and policy coordination, a cross-regional deep integration system has been established.
Specifically, ZPC has deployed crude oil storage and transportation base tank farms and terminal engineering in
Jintang, as well as the Zhoushan-Ningbo Petrochemical Base interconnection pipeline project, which will coordinate
and integrate storage resources for crude oil and various chemical products, achieving efficient connectivity among
ZPC, Zhongjin Petrochemical, and the Jintang New Materials project through dedicated pipelines. At present, the
project has commenced construction, and relevant work is progressing in an orderly manner according to plan.
4.PTA sector
The Company's four major PTA production bases—Yisheng New Materials, Yisheng Dahua, Hainan Yisheng,
and Zhejiang Yisheng—have a combined total production capacity of 21.5 million tons, firmly ranking first in the
world in terms of scale. Relying on the integrated layout of the entire industrial chain, the Company's PTA sector
has established significant competitive advantages in terms of upstream and downstream integrated synergy,
logistics, and economies of scale. In terms of upstream and downstream synergy, the Company is equipped with
upstream PX capacity, achieving a high proportion of self-sufficiency in the core raw material PX; downstream, it
extends to cover products such as polyester bottle chips, filaments, and films, with a prominent industrial chain
linkage effect. Regarding logistics, each base is adjacent to premium coastal deep-water ports such as Ningbo and
Dalian, equipped with large-scale dedicated terminals and transmission pipelines. Through modes such as pipeline
transportation and direct ship-to-shore delivery, the comprehensive transportation cost is effectively reduced.
Meanwhile, the proximity to downstream polyester textile industrial clusters further enhances production and sales
response efficiency.

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Since the construction of the first private PTA production line in 2002, the Company has adhered to
independent innovation, successively developing and building the first domestic PTA process package and
production units with independent intellectual property rights. It has achieved the first localized application of core
equipment such as large-scale oxidation reactors and high-speed pumps, breaking the long-term dependence of
China's PTA industry on imported complete sets of patented technologies and driving the leapfrog development of
a large number of domestic equipment manufacturers. Meanwhile, the Company continues to carry out
technological upgrades to existing equipment to improve production efficiency and product quality, while
continuously optimizing raw material consumption to ensure efficient resource utilization.
5. Polyester sector
The Company has established a comprehensive polyester capacity system covering polyester filament,
polyester bottle chips, and polyester film, forming a well-structured and highly efficient industrial layout. In the
field of polyester filament, the Company primarily operates through two major production bases: Shengyuan
Chemical Fiber and Rongxiang Chemical Fiber, with a total filament capacity ranking among the top players in
China. Notably, Shengyuan Chemical Fiber empowers traditional production lines with digitalization to create "dark
factories" and realize "replacement of humans with machines," and has been awarded the "Intelligent Manufacturing
Excellent Scenario" by the Ministry of Industry and Information Technology. In the field of polyester film, the main
production base is Yongsheng Technology, with an annual capacity of 430,000 tons, ranking among the top four in
China. Through the development of differentiated products, its product competitiveness and market influence
continue to increase. In the field of polyester bottle chips, the Company leverages its industrial chain integration
advantages to continuously tap potential and increase efficiency. The current capacity for polyester bottle chips
reaches 5.3 million tons per year, ranking second in the world and first in China. Relying primarily on the production
bases of Yisheng Dahua and Hainan Yisheng, the Company consumes a portion of its PTA capacity locally,
effectively strengthening industrial chain synergy and significantly enhancing overall profitability and
comprehensive competitive advantages. Furthermore, Hainan Yisheng possesses an r-PET capacity of 50,000 tons
per year. Its products have passed the U.S. Food and Drug Administration (FDA) certification, confirming that they
can be used to produce PET containers with up to 100% recycled content for all types of food contact. Hainan
Yisheng has established a differentiated advantage in the fields of green, low-carbon, and circular economy, and
was successfully selected as a "National Green Factory."
II. Analysis of Core Competitiveness
As one of the world’s leading chemical materials manufacturers, Rongsheng Petrochemical is a major global
producer of polyester, new energy materials, engineering plastics and high value-added polyolefins. The ZPC
refining and chemical integration project, which is primarily operated by the Company, has an annual processing
capacity of 40 million tons of crude oil, 8.8 million tons of paraxylene (PX) and 4.2 million tons of ethylene, and
maintains a globally leading level of refining and chemical integration. In 2026, the Company’s global brand value
and industry influence continued to increase steadily. In May 2026, Rongsheng Petrochemical was included in the
Brand Finance Chemicals 25 ranking for the seventh consecutive year and retained fifth place globally, making it
the only Chinese brand among the top five. In July 2026, Chemical & Engineering News (C&EN) released its “2026
Global Top 50 Chemical Companies” ranking, in which Rongsheng Petrochemical ranked 17th. In 2025, Rongsheng
Petrochemical also received recognition in a number of authoritative global industry rankings, ranking ninth in the
ICIS Top 100 Chemical Companies and seventh globally in the Chemical Week Billion-Dollar Club ranking. In
terms of sustainable development, the Company continued to lead the industry, maintaining an MSCI ESG rating
of A and achieving industry-leading performance in carbon reduction, water resource management and corporate
governance. Through its comprehensive sustainability capabilities, the Company continued to shape a high-quality
and sustainable long-term development model.

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(I) Comprehensive Industrial Synergy Advantages
Through years of development and refinement, the Company has seized opportunities arising from industry
adjustments and achieved rapid growth, establishing a business model that spans “from a drop of oil to everything
in the world.” By extending the industrial chain, the Company has effectively reduced operating costs, established
complementary upstream and downstream operations, and enhanced its sustainable profitability and risk resilience.
Building on the complete polyester industrial chains of ZPC’s controlling shareholder, Rongsheng Petrochemical,
and its shareholder, Tongkun Group, ZPC successfully completed the final link in the entire process “from a drop
of oil to a filament,” creating significant advantages through the integration of the upstream and downstream
polyester industry and generating strong synergies with its shareholders across other industrial chains.
The interconnection between the Zhoushan Green Petrochemical Base and the Ningbo Petrochemical Base
enables the coordinated development of the two major bases. Pipeline transportation significantly reduces the risks
and costs associated with marine and road transportation. Large quantities of light hydrocarbon feedstocks generated
as by-products at the Ningbo Petrochemical Base can be transported by pipeline to the Zhoushan Green
Petrochemical Base and used as high-quality ethylene feedstocks, while surplus petroleum products from the
Zhoushan Green Petrochemical Base can be transported to the Ningbo Petrochemical Base and used as high-quality
feedstocks for aromatics production.
The ZPC project is equipped with supporting facilities capable of securing the crude oil supply required for
both phases of the project. The Mamu Crude Oil Depot and the Yushan Island Crude Oil Depot have a combined
storage capacity of 4.6 million cubic meters, representing the largest dedicated storage capacity supporting a refining
and chemical project in China. As China’s most concentrated resource allocation hub for oil and gas enterprises,
the Zhejiang Free Trade Zone has more than 30 million cubic meters of oil storage capacity at locations including
Cezi Island and Waidiao Island. Most of its oil pipeline networks are interconnected, enabling local transportation
and transfer. The Company is advancing the tank farm and terminal projects of the Jintang Crude Oil Storage and
Transportation Base. The project includes three new 300,000-dwt oil berths with a designed annual throughput of
50 million tons. The new tank farm will have a total storage capacity of 4.64 million cubic meters and a designed
annual turnover of 50 million tons. Upon completion of the project, the economies of scale arising from large-
volume inbound and outbound transportation and rapid turnover of terminal throughput and crude oil reserves will
gradually become evident, effectively generating both economic and social benefits.
(II) Distinctive Location Advantages
Along China’s eastern coastline, the Company’s production bases are primarily located in Dalian, Liaoning
Province, within the Bohai Economic Rim; Ningbo and Zhoushan, Zhejiang Province, within the Yangtze River
Delta Economic Circle; and Haikou, Hainan Province, along the Belt and Road Economic Belt and the Maritime
Silk Road. Each production base is adjacent to high-quality ports, connected to waterways and equipped with
comprehensive terminal facilities. The principal and auxiliary raw materials required for the Company’s production
can be unloaded and stored at chemical terminals constructed or leased by the Company, greatly facilitating the
transportation of bulk raw materials and inventory adjustments.
The ZPC project is located in a major consumption region for petroleum and chemical products, and its
principal products are well suited to market demand. Its chemical products primarily target East China and South
China, which are among China’s most economically developed regions and have the most active downstream
markets for petrochemical products. Related industries, including plastics processing, light manufacturing and
household chemicals, are well developed in these regions, providing strong market demand for bulk petrochemical
products. The Company has diversified sales channels for refined oil products, strong policy support and evident
competitive advantages. The Ministry of Commerce formally approved ZPC’s qualification to export refined oil
products through non-state trading. As the first privately owned refining and chemical enterprise to obtain such

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export rights, ZPC took the lead in opening a sales channel into Southeast Asia. Against the backdrop of excess
domestic refined oil supply, ZPC’s refined oil export rights are scarce and highly valuable.
(III) Outstanding Strategic Deployment Advantages
The management team has keen investment insight, accurately determines the timing of project commissioning,
and possesses outstanding investment and financing capabilities. The Company started its business in polyester
chemical fibers and established a solid foundation through years of development. Following the full commissioning
of ZPC’s 40-million-ton-per-year refining and chemical integration project in early 2022, ZPC became the world’s
largest single-site refinery. Leveraging the platform provided by the world’s largest single-site 40-million-ton
refining and chemical integration project, the Company accelerated its deployment in downstream chemical new
materials. Focusing on new energy and high-end materials, the Company developed a range of new energy and new
materials products, including EVA, POE, DMC, PC and ABS, continuously enriching its product portfolio. As new
projects progress steadily, the Company will expand its production capacities for new energy materials, renewable
plastics, specialty synthetic materials and high-end synthetic materials in an orderly manner, further accelerating its
transformation toward new materials.
(IV) Strong R&D and Innovation Advantages
The Company follows a technology research and development model driven by both “independent innovation”
and “open cooperation.” It has established first-class R&D platforms, including a high-tech R&D center, an
academician and expert workstation, an enterprise technology center and a postdoctoral research workstation. The
Company also actively engages in external technological exchanges and discussions, promotes integrated industry-
university-research cooperation, and brings together resources from universities, society and enterprises. Through
these initiatives, the Company works with its partners to improve research capabilities, advance technological
progress and jointly develop an open, healthy and mutually beneficial innovation ecosystem. In recent years, the
Company has continuously strengthened its research cooperation with domestic and international institutions, with
R&D investment increasing year by year and remaining at an industry-leading level.
The Company’s principal manufacturing enterprises are national high-tech enterprises with strong R&D
capabilities and extensive experience in process operations accumulated through long-term production management.
Bringing together domestic and international capabilities in industry, academia, research and application, the
Company conducts research and development through independent innovation and has established an integrated
achievement-maturation platform covering laboratory innovation, bench-scale testing, pilot testing and industrial
demonstration production. Leveraging its flexible systems and mechanisms and its complete industrial chain, the
Company addresses the difficulties faced by certain domestic research institutes in incubating and commercializing
research results despite their basic research capabilities. It has removed the final bottleneck between scientific
research achievements and their industrial application, promoted industrial technological innovation and upgrading,
and sought to secure technological leadership. These efforts drive the Company’s high-quality development toward
independent technologies, diversified raw materials, high-end products, green production and intelligent industrial
operations.
(V) Extensive Human Resources Advantages
The Company attaches great importance to corporate culture development and has established a positive
working environment and strong corporate cohesion. Through internal development and external recruitment, the
Company has assembled a stable team of core management, R&D and technical personnel. The Company places
considerable emphasis on developing its existing workforce. Based on its actual circumstances and overall planning,
it continuously expands employee selection and development platforms and establishes effective incentive
mechanisms. By improving employee remuneration and benefits, refining professional title assessment, and
clarifying promotion standards and reward mechanisms, the Company maintains a practical, proactive and capable
workforce. The Company dynamically evaluates employees’ overall capabilities through a combination of

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assessments, performance appraisals and competitions. It has fostered a healthy competitive environment in which
employees learn from one another, strive to improve and compete for excellence. The Company emphasizes
assigning employees according to their individual strengths and placing them in suitable positions, ensuring that all
types of talent have opportunities to fully demonstrate their abilities.
In addition, the Company attaches great importance to talent and team management and adopts a two-pronged
approach involving internal incentives and external talent development. In terms of internal management, the
Company advances the development of three talent groups comprising Senior Management, high-potential
employees and professional specialists. It places particular emphasis on talent assessment and integrity education,
strengthens skills training and certification, and improves employees’ capabilities in all respects. In terms of external
talent development, the Company relies on industry-university-research cooperation platforms to actively recruit
highly educated and highly skilled talent, increase the proportion of high-caliber employees and provide new
momentum for its development.
(VI) Efficient Operational Management Advantages
The Company remains committed to institutional development and integrates digitalization, intelligent
technologies, standardization, process-based management and regulatory compliance into its corporate operations.
It actively strengthens information technology development, comprehensively integrates procurement, production,
inventory, sales and other business processes, and continuously enhances its rapid-response capabilities. Taking
into account its actual circumstances, the Company has established a comprehensive and effective management
system that clearly defines position responsibilities and workflows. Through refined management, the Company
has effectively reduced its operating costs. After years of effort, the Company’s information technology,
performance appraisal and credit management systems have reached industry-leading levels. Meanwhile, through
brand and corporate culture development, the Company has further strengthened its corporate cohesion and brand
influence.
III. Analysis of Main Business
Overview
For details, please refer to "I. Main Businesses of the Company during the Reporting Period".

Year-on-year Changes in Key Financial Data
Unit: RMB

This reporting period
Same period of the
previous year
YoY change
Reasons for changes
Operating revenue
129,406,713,606.78
148,629,350,935.50
-12.93%

Operating costs
109,671,529,657.63
128,878,959,937.59
-14.90%

Selling expenses
86,672,912.63
84,293,344.16
2.82%

Administrative
expenses
489,898,914.69
466,821,877.01
4.94%

Financial expenses
3,031,712,215.69
3,209,956,264.91
-5.55%

Income tax expenses
1,599,910,333.55
178,317,788.37
797.22%
Mainly due to the year-on-year
increase in total profit during the
current period, resulting in a
corresponding increase in income
tax expenses
R&D investment
2,242,542,374.59
2,369,091,695.16
-5.34%


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This reporting period
Same period of the
previous year
YoY change
Reasons for changes
Net cash flows from
operating activities
21,254,077,553.64
7,586,625,253.68
180.15%
Mainly due to the year-on-year
changes in net cash generated
from purchase and sales activities
and taxes paid during the current
period
Net cash flows from
investing activities
-20,365,844,227.94
-16,060,371,106.87
-26.81%
Mainly due to increased
expenditures on the purchase and
construction of long-term assets
during the period
Net cash flows from
financing activities
9,314,864,561.03
9,545,184,516.11
-2.41%

Net increase in cash
and cash equivalents
10,297,237,265.23
1,078,135,756.74
855.10%
Mainly due to increased cash
receipts from operating activities
during the period
Whether the composition of the Company’s profit or sources of profit changed significantly during the reporting
period
□ Applicable RNot applicable
There were no significant changes in the composition of the Company’s profit or sources of profit during the
reporting period.
Composition of Operating Revenue
Unit: RMB

This reporting period
Same period of the previous year
YoY change
Amount
Proportion of
operating
revenue
Amount
Proportion of
operating
revenue
Total operating
revenue
129,406,713,606.78
100%
148,629,350,935.50
100%
-12.93%
By industry
Petrochemical
industry
106,081,941,876.06
81.98%
128,902,515,568.13
86.73%
-17.70%
Polyester and
chemical fiber
industry
13,289,684,977.32
10.27%
11,125,503,900.41
7.48%
19.45%
Trade and
others
10,035,086,753.40
7.75%
8,601,331,466.96
5.79%
16.67%
By product
Oil refining
products
20,803,255,178.70
16.08%
52,406,252,637.61
35.26%
-60.30%
Chemical
products
71,267,307,481.23
55.07%
60,742,136,938.65
40.87%
17.33%
PTA
14,011,379,216.13
10.83%
15,754,125,991.87
10.60%
-11.06%
Polyester,
chemical fiber
and film
products
13,289,684,977.32
10.27%
11,125,503,900.41
7.48%
19.45%
Trade and
others
10,035,086,753.40
7.75%
8,601,331,466.96
5.79%
16.67%
By region
Domestic
107,648,115,188.12
83.19%
133,658,202,665.65
89.93%
-19.46%
Overseas
21,758,598,418.66
16.81%
14,971,148,269.85
10.07%
45.34%
Industries, Products or Regions Accounting for More Than 10% of the Company’s Operating Revenue or Operating
Profit
R Applicable □ Not applicable

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Unit: RMB

Operating revenue
Operating costs
Gross profit
margin
YoY change
in operating
revenue
YoY change
in operating
costs
YoY change
in gross
profit
margin
By industry
Petrochemical
industry
106,081,941,876.06
88,177,049,909.43
16.88%
-17.70%
-19.61%
1.97%
Polyester and
chemical fiber
industry
13,289,684,977.32
12,389,188,913.52
6.78%
19.45%
13.05%
5.28%
Trade and
others
10,035,086,753.40
9,105,290,834.68
9.27%
16.67%
10.55%
5.02%
By product
Oil refining
products
20,803,255,178.70
13,544,397,362.99
34.89%
-60.30%
-66.61%
12.31%
Chemical
products
71,267,307,481.23
60,670,381,107.02
14.87%
17.33%
13.60%
2.79%
PTA
14,011,379,216.13
13,962,271,439.42
0.35%
-11.06%
-11.11%
0.05%
Polyester,
chemical fiber
and film
products
13,289,684,977.32
12,389,188,913.52
6.78%
19.45%
13.05%
5.28%
Trade and
others
10,035,086,753.40
9,105,290,834.68
9.27%
16.67%
10.55%
5.02%
By region
Domestic
107,648,115,188.12
89,083,481,492.24
17.25%
-19.46%
-22.09%
2.79%
Overseas
21,758,598,418.66
20,588,048,165.39
5.38%
45.34%
41.56%
2.52%
Where the statistical basis for the Company’s main business data was adjusted during the reporting period, the
Company’s main business data for the most recent period as adjusted based on the statistical basis at the end of the
reporting period
□ Applicable R Not applicable


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IV. Analysis of Non-main Businesses
R Applicable □ Not applicable
Unit: RMB

V. Analysis of Assets and Liabilities
1. Significant Changes in Asset Composition
Unit: RMB


Amount
Proportion of
total profit
Explanation of reasons
Sustainable
Investment income
362,514,525.42
3.34%
Mainly due to gains from futures investments
and investment income from associates
No
Gains/(losses) from
changes in fair value
-292,395,250.55
-2.69%
Mainly due to changes in unrealized gains on
derivative financial assets
No
Asset impairment loss
-1,070,657.02
-0.01%
Mainly due to provisions for inventory write-
downs
No
Non-operating income
4,459,855.55
0.04%
Mainly compensation income
No
Non-operating
expenses
6,496,192.84
0.06%
Mainly miscellaneous non-recurring losses and
donation expenses
No
Gains on disposal of
assets
7,357,324.96
0.07%
Mainly gains on disposal of fixed assets
No
Credit impairment loss
18,584,617.97
0.17%
Mainly due to provisions for bad debts on
receivables
No
Other income
800,815,540.06
7.37%
Mainly benefits under the VAT super-deduction
policy for advanced manufacturing enterprises
Yes

At the end of this reporting period
At the end of the previous year
Change in
proportion
Explanation
of
significant
changes
Amount
Proportion
of total
assets
Amount
Proportion
of total
assets
Monetary funds
23,734,636,453.49
5.89%
13,499,669,478.84
3.49%
2.40%

Accounts
receivable
2,260,963,661.76
0.56%
3,169,305,362.31
0.82%
-0.26%

Inventories
32,009,662,550.09
7.95%
33,576,127,180.92
8.68%
-0.73%

Investment
properties
9,716,959.60
0.002%
9,852,682.60
0.003%
-0.001%

Long-term
equity
investments
9,446,006,115.38
2.34%
9,764,207,212.23
2.53%
-0.19%

Fixed assets
249,424,094,904.07
61.92%
259,757,528,525.39
67.18%
-5.26%

Construction in
progress
54,979,464,670.50
13.65%
37,854,167,659.20
9.79%
3.86%

Right-of-use
assets
60,122,571.18
0.01%
27,062,072.00
0.01%
0.00%

Short-term
borrowings
53,190,105,943.25
13.20%
50,196,656,887.59
12.98%
0.22%

Contract
liabilities
2,755,473,814.03
0.68%
4,083,450,306.60
1.06%
-0.38%

Long-term
borrowings
129,528,625,520.90
32.16%
122,459,201,307.70
31.67%
0.49%

Lease liabilities
42,251,995.26
0.01%


0.01%

Non-current
liabilities due
within one year
37,100,487,475.75
9.21%
35,466,338,269.58
9.17%
0.04%


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2. Major Overseas Assets
□ Applicable R Not applicable
3. Assets and Liabilities Measured at Fair Value
R Applicable □ Not applicable
Unit: RMB
Item
Beginning balance
Ending balance
Financial assets
1. Financial assets held for trading(not
including derivative financial assets)


2. Derivative financial assets
278,828,802.69
192,305,512.54
Subtotal of financial assets
278,828,802.69
192,305,512.54
Financial liabilities
254,957,356.99
242,510,513.90

Whether there were any significant changes in the measurement attributes of the Company’s major assets during
the reporting period
□ Yes R No
4. Restricted Assets as of the End of the Reporting Period
Unit: RMB
Item
Closing gross carrying
amount
Reason for restriction
Monetary funds
568,401,314.82
Letters of credit, bank acceptance bills, letters of guarantee, loan security
deposits and funds in transit
Fixed assets
294,528,079,475.45
Mortgaged as security for borrowings and letters of credit
Construction in
progress
16,583,927,518.98
Mortgaged as security for borrowings and letters of credit
Intangible assets
6,136,663,519.99
Mortgaged as security for borrowings and letters of credit
Total
317,817,071,829.24

VI. Analysis of Investments
1. Overall Situation
R Applicable □ Not applicable
Investment during the reporting
period (RMB)
Investment during the same period of
the previous year (RMB)
Change
9,446,006,115.38
9,715,088,710.27
-2.77%
2. Significant Equity Investments Acquired during the Reporting Period
□ Applicable R Not applicable
3. Significant Ongoing Non-equity Investments during the Reporting Period
□ Applicable R Not applicable
4. Investments in Financial Assets
(1) Securities Investments
□ Applicable R Not applicable
The Company had no securities investments during the reporting period.

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(2) Derivatives Investments
R Applicable □ Not applicable
1) Derivatives Investments for Hedging Purposes during the Reporting Period
R Applicable □ Not applicable
Unit: RMB 10,000
Type of
derivatives
investment
Initial
investment
amount
Beginning
balance
Gains/
(losses)
from
changes in
fair value
during the
period
Cumulative
changes in
fair value
recognized
in equity
Purchases
during
the
reporting
period
Sales
during the
reporting
period
Ending
balance
Percentage
of ending
investments
to the
Company’s
net assets
at the end
of the
reporting
period
Forward foreign
exchange
contracts

23,158.30
-9,622.21



14,596.82
0.31%
Paper futures
contracts

-20,771.15
-19,617.32



-19,617.32
-0.41%
Total

2,387.15
-29,239.53



-5,020.50
-0.10%
Explanation of
the accounting
policies and
specific
accounting
principles for
hedging
activities during
the reporting
period, and
whether there
were any
significant
changes
compared with
the previous
reporting period
No
Explanation of
actual profit or
loss during the
reporting period
The Company recorded an actual investment loss of RMB 359.4034 million during the reporting period
Explanation of
hedging
effectiveness
N/A
Sources of
funds for
derivatives
investments
Self-owned funds
Risk analysis
and control
measures for
derivatives
positions held
during the
reporting period
(including but
not limited to
market risk,
liquidity risk,
credit risk,
(I) Risk Analysis of Commodity Futures Hedging Business
1. Risk of Abnormal Price Fluctuations: In theory, futures and spot prices of each traded product should converge during
the delivery period. However, under rare irrational market conditions, futures and spot prices may fail to converge, which
could adversely affect the Company’s hedging arrangements and even result in losses.
2. Liquidity Risk: Excessive capital investment in futures trading may create liquidity risk and may even result in actual
losses due to forced liquidation if margin calls cannot be met in a timely manner. Inactive trading may also make
transactions difficult to execute, giving rise to liquidity risk.
3. Operational Risk: Futures trading is highly specialized and complex, and deficiencies in information systems or internal
controls may result in unexpected losses.
4. Credit Risk: If prices fluctuate significantly against a counterparty, the counterparty may breach relevant contractual
provisions or cancel the contract, resulting in losses to the Company.
5. Legal Risk: Changes in relevant laws and regulations, or violations thereof by counterparties, may prevent contracts
from being performed as intended and cause losses to the Company.

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Type of
derivatives
investment
Initial
investment
amount
Beginning
balance
Gains/
(losses)
from
changes in
fair value
during the
period
Cumulative
changes in
fair value
recognized
in equity
Purchases
during
the
reporting
period
Sales
during the
reporting
period
Ending
balance
Percentage
of ending
investments
to the
Company’s
net assets
at the end
of the
reporting
period
operational risk
and legal risk)
(II) Risk Control Measures Proposed for Commodity Futures Hedging Business
1. The Company matches its futures hedging activities with its operating activities to hedge against price fluctuation risks.
Futures hedging is limited to futures products related to the raw materials or products required for the Company’s
operations.
2. The Company strictly controls the amount of funds used for hedging and reasonably plans and uses margins. It has
established design principles and specific approval authorities for hedging plans. Hedging activities are conducted solely
to mitigate commodity price risks and do not involve speculation or arbitrage. The hedged volume may not exceed the
volume of actual spot transactions, and futures positions may not exceed the corresponding spot volume being hedged.
3. In accordance with the Rules Governing the Listing of Shares on the Shenzhen Stock Exchange and other relevant
regulations, the Company has formulated the Commodity Futures Hedging Management System to govern futures
activities and minimize operational risks arising from inadequate systems or improper procedures.
4. The Company has established compliant computer systems and supporting facilities to ensure the normal conduct of
trading activities. In the event of a system failure, corresponding measures will be taken promptly to mitigate losses.
(III) Risk Analysis of Foreign Exchange Derivatives Trading
1. Market Risk: If exchange rate or interest rate movements deviate significantly from the Company’s expectations, the
costs incurred after locking in exchange rates or interest rates may exceed those that would have been incurred without
such arrangements, resulting in potential losses.
2. Internal Control Risk: Foreign exchange derivatives trading is highly specialized and complex, and inadequate internal
control mechanisms may give rise to risks.
3. Customer or Supplier Default Risk: Delays in collecting accounts receivable from customers, or postponed payments
to suppliers, may affect the Company’s cash flows and cause the timing or amount of actual cash flows to differ from those
of executed foreign exchange derivatives transactions.
Collection Forecast Risk: The Company generally forecasts payments and collections based on purchase orders, customer
orders and expected orders. During actual execution, suppliers or customers may adjust their orders or forecasts, resulting
in inaccurate collection forecasts and delayed settlement of executed foreign exchange derivatives transactions.
4. Legal Risk: Changes in relevant laws or violations of applicable laws and regulations by counterparties may prevent
contracts from being performed as intended and cause losses to the Company.
(IV) Risk Control Measures Proposed for Foreign Exchange Derivatives Trading
1. The Company has formulated the Foreign Exchange Derivatives Trading Management System, which prohibits foreign
exchange derivatives transactions for speculative purposes. All such transactions must be based on normal production and
operations, supported by specific business activities, and conducted for the purpose of avoiding and preventing exchange
rate or interest rate risks. The system clearly stipulates operating principles, approval authorities, internal review
procedures, responsible departments and personnel, information segregation measures, internal risk reporting and risk
handling procedures. It complies with relevant regulatory requirements, meets operational needs and provides effective
risk control measures.
2. The Company’s Treasury Department and Audit Department, as the responsible departments, have clearly defined
management roles and responsibilities, with accountability assigned to specific individuals. Tiered management
fundamentally prevents the risk of operations being conducted by a single person or department and improves the speed
of risk response while maintaining effective risk control.
3. The Company conducts foreign exchange derivatives transactions with large commercial banks possessing the requisite
legal qualifications and closely monitors relevant laws and regulations to mitigate potential legal risks.

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Type of
derivatives
investment
Initial
investment
amount
Beginning
balance
Gains/
(losses)
from
changes in
fair value
during the
period
Cumulative
changes in
fair value
recognized
in equity
Purchases
during
the
reporting
period
Sales
during the
reporting
period
Ending
balance
Percentage
of ending
investments
to the
Company’s
net assets
at the end
of the
reporting
period
Changes in the
market prices or
fair values of
invested
derivatives
during the
reporting
period,
including the
specific
methods used to
analyze fair
value and the
assumptions and
parameters
applied
The Company measures hedging investments at fair value. Forward foreign exchange contracts are generally valued based
on prices provided by or obtained from banks and other pricing service providers. Fair value is measured and recognized
monthly, while the transaction price of futures represents their fair value.
Litigation status
(if applicable)
None
Disclosure date
of the Board
announcement
approving
derivatives
investments (if
any)
April 28, 2026
Disclosure date
of the
announcement
of the general
meeting of
shareholders
approving
derivatives
investments (if
any)
May 22, 2026
The Company is required to comply with the disclosure requirements for the chemical industry under the Self-Regulatory Guidelines
for Companies Listed on the Shenzhen Stock Exchange No. 3—Industry Information Disclosure.
At its fifth meeting of the seventh Board of Directors held on April 26, 2026, the Company reviewed and
approved the Proposal on Conducting Futures Hedging Business for 2026, which was subsequently approved at the
2025 Annual General Meeting of Shareholders. For details, please refer to the Announcement on Conducting
Futures Hedging Business for 2026 (Announcement No. 2026-010), published on April 28, 2026 in Securities Times,
Securities
Daily,
China
Securities
Journal
and
Shanghai
Securities
News
and
on
CNINFO
(http://www.cninfo.com.cn). The Company conducts the relevant business strictly in accordance with the proposal
approved at the aforementioned meetings.
2) Derivatives Investments for Speculative Purposes during the Reporting Period
□ Applicable R Not applicable
The Company had no derivatives investments for speculative purposes during the reporting period.

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5. Use of Raised Funds
□ Applicable R Not applicable
The Company did not use any raised funds during the reporting period.

VII. Sales of Major Assets and Equities
1. Sales of major assets
□ Applicable R Not applicable
The Company did not sell any major assets during the reporting period.
2. Sale of major equities
□ Applicable RNot applicable

VIII. Analysis of Major Subsidiaries and Associates
R Applicable □ Not applicable
Major subsidiaries and associates with an impact of 10% or more on the Company’s net profit

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Unit: RMB10,000
Company name
Company
type
Main business
Registered capital
Total assets
Net assets
Operating income
Operating profit
Net profit
Zhejiang
Petroleum &
Chemical Co.,
Ltd.
Subsidiary
Production, sales, storage
and transportation of
petroleum products, etc.
RMB58,800,000,000
29,963,191.33
10,864,611.62
9,352,144.39
965,416.39
827,462.04
Ningbo Zhongjin
Petrochemical
Co., Ltd.
Subsidiary
Production and sales of
chemical products and
petroleum products
RMB6,000,000,000
2,711,714.85
440,074.94
1,016,356.49
12,153.08
9,663.12
Dalian Yisheng
Investment Co.,
Ltd.
Subsidiary
Project investment,
domestic trade, import and
export of goods
RMB 2,018,000,000
1,873,458.05
550,789.78
1,083,936.87
43,339.45
37,855.86
Yisheng Dahua
Petrochemical
Co., Ltd.
Subsidiary
Production and sales of
PTA and polyester bottle
chips
RMB2,456,450,000
1,691,313.63
484,113.24
1,083,936.87
26,048.65
20,565.98
Zhejiang Yisheng
New Materials
Co., Ltd.
Subsidiary
Production and sales of
PTA
RMB3,000,000,000
1,111,019.45
129,654.97
1,396,845.92
-14,302.51
-14,945.50
Zhejiang Yisheng
Petrochemical
Co., Ltd.
Associate
Production and sales of
PTA and PIA
USD 514,447,100
2,164,782.60
627,138.74
1,334,250.76
9,111.39
8,007.01
Hainan Yisheng
Petrochemical
Co., Ltd.
Associate
Production and sales of
PTA and polyester bottle
chips
RMB4,580,000,000
2,248,557.60
712,123.02
1,649,251.87
34,279.97
34,551.39
Zhejiang
Shengyuan
Chemical Fiber
Co., Ltd.
Subsidiary
Production and sales of
polyester chips and
polyester filaments
RMB2,000,000,000
916,667.50
222,780.92
346,616.08
13,291.58
11,718.98

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Acquisition and disposal of subsidiaries during the reporting period
R Applicable □ Not applicable
Company Name
Method of Acquisition or Disposal
During the Reporting Period
Impact on Overall Production,
Operations and Performance
Ningbo Yisheng Chemicals Co., Ltd.
Deregistration
No material impact

Description of Major Controlled and Investee Companies
(1) Zhejiang Petroleum & Chemical Co., Ltd.
Zhejiang Petroleum & Chemical Co., Ltd. is the implementation entity of the Company’s 40 million tons/year
refining and chemical integration project and is primarily engaged in the production, sales, storage and
transportation of petroleum products. Its legal representative is Li Shuirong, and its registered capital is RMB 58,800
million. It is a holding subsidiary of the Company. As of June 30, 2026, it had total assets of RMB 299,631.91
million and net assets of RMB 108,646.12 million. For the six months ended June 30, 2026, it recorded operating
revenue of RMB 93,521.44 million and net profit of RMB 8,274.62 million.
(2) Ningbo Zhongjin Petrochemical Co., Ltd.
Ningbo Zhongjin Petrochemical Co., Ltd. is primarily engaged in the storage of chemical products and the
wholesale and retail of chemical products and petroleum products other than hazardous chemicals. Its legal
representative is Li Shuirong, and its registered capital is RMB 6,000 million. It is a wholly-owned subsidiary of
the Company. As of June 30, 2026, it had total assets of RMB 27,117.15 million and net assets of RMB 4,400.75
million. For the six months ended June 30, 2026, it recorded operating revenue of RMB 10,163.56 million and net
profit of RMB 96.63 million.
(3) Dalian Yisheng Investment Co., Ltd.
Dalian Yisheng Investment Co., Ltd. is primarily engaged in industrial investment, domestic trade, and the
import and export of goods. Its legal representative is Li Shuirong, and its registered capital is RMB 2,018 million.
The Company holds 70% of its equity. As of June 30, 2026, it had total assets of RMB 18,734.58 million and net
assets of RMB 5,507.90 million. For the six months ended June 30, 2026, it recorded operating revenue of RMB
10,839.37 million and net profit of RMB 378.56 million.
(4) Yisheng Dahua Petrochemical Co., Ltd.
Yisheng Dahua Petrochemical Co., Ltd. is primarily engaged in the production and sales of PTA and polyester
bottle chips, as well as the import and export of goods and domestic trade. Its legal representative is Li Shuirong,
and its registered capital is RMB 2,456.45 million. As of June 30, 2026, it had total assets of RMB 16,913.14 million
and net assets of RMB 4,841.13 million. For the six months ended June 30, 2026, it recorded operating revenue of
RMB 10,839.37 million and net profit of RMB 205.66 million.
(5) Zhejiang Yisheng New Materials Co., Ltd.
Zhejiang Yisheng New Materials Co., Ltd. is primarily engaged in the production and sales of PTA. Its legal
representative is Xu Baoyue, and its registered capital is RMB 3,000 million. Ningbo Zhongjin Petrochemical Co.,
Ltd. holds 51% of its equity. As of June 30, 2026, it had total assets of RMB 11,110.19 million and net assets of
RMB 1,296.55 million. For the six months ended June 30, 2026, it recorded operating revenue of RMB 13,968.46
million and a net loss of RMB 149.46 million.
(6) Zhejiang Yisheng Petrochemical Co., Ltd.
Zhejiang Yisheng Petrochemical Co., Ltd. is primarily engaged in the production and sales of PTA and PIA.
Its legal representative is Fang Xianshui, and its registered capital is USD 514.4471 million. The Company holds
an aggregate equity interest of 30% in the company. As of June 30, 2026, it had total assets of RMB 21,647.83

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million and net assets of RMB 6,271.39 million. For the six months ended June 30, 2026, it recorded operating
revenue of RMB 13,342.51 million and net profit of RMB 80.07 million.
(7) Hainan Yisheng Petrochemical Co., Ltd.
Hainan Yisheng Petrochemical Co., Ltd. is an associate of Yisheng Investment, a holding subsidiary of the
Company. It is primarily engaged in the production and sales of PTA and polyester bottle chips, as well as import
and export business. Its legal representative is Fang Xianshui, and its registered capital is RMB 4,580 million.
Yisheng Investment holds 50% of its equity. As of June 30, 2026, it had total assets of RMB 22,485.58 million and
net assets of RMB 7,121.23 million. For the six months ended June 30, 2026, it recorded operating revenue of RMB
16,492.52 million and net profit of RMB 345.51 million.
(8) Zhejiang Shengyuan Chemical Fiber Co., Ltd.
Zhejiang Shengyuan Chemical Fiber Co., Ltd. is the implementation entity of the Company’s multifunctional
fiber technological upgrading project and is primarily engaged in the production and sales of polyester chips and
polyester filaments. Its legal representative is Li Shuirong, and its registered capital is RMB 2,000 million. It is a
wholly-owned subsidiary of the Company. As of June 30, 2026, it had total assets of RMB 9,166.68 million and net
assets of RMB 2,227.81 million. For the six months ended June 30, 2026, it recorded operating revenue of RMB
3,466.16 million and net profit of RMB 117.19 million.
IX. Structured Entities Controlled by the Company
□ Applicable R Not applicable
X. Risks Facing the Company and Countermeasures
1. Risk of Fluctuations in Raw Material and Product Prices
As the Company operates within the crude oil industry chain, upstream raw materials constitute the primary
component of its product costs. Fluctuations in crude oil prices may therefore cause price fluctuations in products
across the industry chain. The Company’s principal products include oil products, aromatic hydrocarbons, olefins
and downstream chemicals, which are closely related to the national economy and people’s livelihoods. The
development of the industry is highly correlated with overall macroeconomic conditions, and macroeconomic
changes may have a certain impact on the Company’s operating performance. The Company’s procurement,
production and sales teams have extensive experience in procurement, production, sales, hedging and logistics. In
coordination with the marketing department, the Company will closely monitor market changes and continue to
combine strategic procurement with opportunistic procurement. It will also flexibly adjust its product mix and
production loads based on market demand, arrange long-term and short-term contracts as appropriate, and
strengthen sales management to mitigate the adverse impact of raw material price fluctuations.
2. Risk of Foreign Exchange Rate Fluctuations
The Company engages in overseas procurement and sales. As its business scale continues to expand, its sales
and procurement amounts denominated in foreign currencies have increased accordingly. Meanwhile, the foreign
exchange market is affected by various complex factors, resulting in considerable uncertainty in exchange rate
movements. Significant fluctuations in the RMB exchange rate in the future may affect the Company’s operating
performance. Taking into account the characteristics of its cross-border business and adhering to the principles of
legality, prudence, safety and effectiveness, the Company will conduct foreign exchange derivatives transactions
based on its actual business operations to avoid and mitigate foreign exchange risks.
3. Risk of Product Overcapacity

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With the expansion of domestic refining and chemical integration capacity and the advancement of the strategy
of “reducing oil products and increasing chemicals” in recent years, a certain degree of product homogeneity has
emerged among some basic chemical raw materials and general-purpose chemical products downstream of the
refining and chemical industry. On the one hand, leveraging its complete and well-established industry chain
platform, the Company is expected to remain at the lower end of the industry cost curve, thereby maintaining a
favorable position in market competition. On the other hand, many products included in the Company’s planned
new materials projects currently have limited domestic production capacity or are entirely dependent on imports.
These products are expected to create differentiated competitive advantages and generate excess returns for the
Company.
4. Risk of Project Capital Expenditure
The petrochemical industry is capital-intensive and is characterized by large investment requirements and long
construction periods. Continuous large-scale capital expenditure may increase the Company’s asset-liability ratio
and place temporary pressure on its cash flows. In addition, if the industry is at the bottom of its cycle and
downstream demand remains weak, returns on project investments may fall short of expectations. The Company is
currently focusing on high-performance resin projects, high-end new materials projects and the Jintang New
Materials Project. It will continue to exercise strict control over the pace of project investment and construction,
adjust project scope in line with market developments, maintain a reasonable asset-liability ratio, and actively
advance its international cooperation plans to build a more competitive refining and chemical integration platform.
XI. Formulation and Implementation of Market Value Management System and Valuation
Promotion Plan
Whether the company has formulated a market value management system.
RYes □No
Whether the company has disclosed the valuation promotion plan.
□ Yes R No
Market value management serves as a strategic cornerstone for the Company’s long-term value growth. By
establishing a scientific and systematic management framework, the Company can continuously enhance its market
competitiveness, consolidate investor confidence, and promote the alignment of its intrinsic value with its market
value. To thoroughly implement the requirements for the high-quality development of the capital market and
effectively protect the lawful rights and interests of investors, the Company formulated the Market Value
Management System in accordance with the Securities Law of the People’s Republic of China, the Guidelines for
the Supervision of Listed Companies No. 10—Market Value Management, the Rules Governing the Listing of
Shares on the Shenzhen Stock Exchange and other applicable laws and regulations, taking into account the
characteristics of the industry and the Company’s actual operations. The system was reviewed and approved at the
22nd Meeting of the Sixth Board of Directors.
During the Reporting Period, the Company strictly complied with the requirements of the Market Value
Management System. With information disclosure as the core, investor relations as the link, shareholder returns as
the objective and capital operations as the means, the Company systematically advanced its market value
management initiatives, continuously standardized its market value management practices, and further enhanced its
investment value and shareholder returns, thereby providing solid support for the Company’s high-quality and
sustainable development.

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XII. Implementation of the Action Plan for the “Dual Enhancement of Quality and Returns”
Whether the Company has disclosed an announcement on the Action Plan for the “Dual Enhancement of Quality
and Returns”
RYes □No
To implement the guiding principles of “invigorating the capital market and boosting investor confidence” put
forward at the meeting of the Political Bureau of the CPC Central Committee on July 24, 2023, as well as the
requirement to “vigorously improve the quality and investment value of listed companies, adopt more forceful and
effective measures, and focus on stabilizing the market and confidence” set out at the executive meeting of the State
Council on January 22, 2024, and to effectively protect the interests of investors, the Company formulated the
Action Plan for the “Dual Enhancement of Quality and Returns” based on its confidence in the Company’s future
development prospects and recognition of the value of its shares. The Action Plan was disclosed on March 2, 2024.
The specific progress is as follows:
1. Remain Committed to Serving the Country through Industrial Development and Lead Industry
Growth
Rongsheng Petrochemical is one of the world’s leading petrochemical enterprises. In 2026, Brand Finance, a
renowned UK-based brand valuation consultancy, ranked Rongsheng Petrochemical fifth among the world’s most
valuable chemicals brands. The Company also ranked seventh in Chemical Week’s Billion-Dollar Club of global
chemicals companies and ninth in the ICIS Top 100 Chemical Companies. The Company has effectively
implemented its “vertical and horizontal strategy” and established seven major production bases in the Bohai
Economic Rim, the Yangtze River Delta Economic Circle and the Hainan Free Trade Port Economic Circle. It has
developed five major industry chains covering polyester, engineering plastics, new energy, high-end polyolefins
and specialty rubber. The Company is one of Asia’s major producers of polyester, new energy materials, engineering
plastics and high value-added polyolefins, and possesses the world’s largest production capacities for PX, PTA and
other chemicals.
Building on its existing comprehensive industry chain, the Company is actively developing projects involving
new energy and new materials products, whose proportion in the Company’s product portfolio continues to increase.
Meanwhile, the Company is actively expanding its global presence. In 2023, the Company introduced Saudi Aramco
as a strategic investor. Saudi Aramco currently holds approximately 10% of the Company’s shares through its
wholly-owned subsidiary. In early 2024, the Company entered into a Memorandum of Understanding with Saudi
Aramco. Since the signing of the Memorandum of Understanding, Rongsheng Petrochemical and Saudi Aramco
have actively advanced their cooperation and successively entered into the Cooperation Framework Agreement, the
Framework Agreement Relating to a Joint Development Agreement, the Development Framework Agreement and
other relevant agreements. The parties are currently conducting further negotiations on the specific terms of their
joint investments to facilitate the achievement of their respective strategic objectives. Building on the foregoing
cooperation, the Company has continued to deepen its collaboration with listed companies controlled by Saudi
Aramco. In July 2026, the Company and its wholly-owned subsidiary, Rongsheng New Materials (Zhoushan) Co.,
Ltd., entered into the Project Development Agreement for a New Project with Saudi Basic Industries Corporation
(SABIC), a Saudi-listed company controlled by Saudi Aramco. The parties are evaluating a potential investment by
SABIC in a 30% to no more than 50% equity interest in Rongsheng New Materials for the purposes of the new
project. By introducing advanced production processes and core technology systems, the signing of the Project
Development Agreement may comprehensively enhance the Company’s international cooperation capabilities and
overall competitiveness.

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2. Emphasize R&D Investment and Drive Growth through Innovation
The Company keeps pace with the latest developments in international science and technology and continues
to introduce new technologies and products in clean energy, high-end materials and green development. The
Company adheres to a technology R&D model driven by both “independent innovation” and “open cooperation.”
It has established first-class R&D platforms, including a high-tech R&D center, an academician and expert
workstation, an enterprise technology center and a postdoctoral research workstation. Meanwhile, the Company
actively conducts external technological exchanges and discussions, proactively advances integrated industry-
university-research collaboration, and integrates resources from universities, social institutions and enterprises.
Through these initiatives, the Company works with relevant parties to enhance scientific research capabilities,
promote technological progress, and build an open, sound and mutually beneficial innovation and development
system.
3. Emphasize Shareholder Returns and Share the Benefits of Development
While focusing on its own development, the Company also attaches great importance to shareholder returns.
To improve and strengthen its shareholder return mechanism and enhance the transparency and operability of its
profit distribution policy, the Company has formulated and continuously updated its Shareholder Return Plan for
the Next Three Years since its listing, in accordance with the Company Law of the People’s Republic of China, the
Guidelines for the Supervision of Listed Companies No. 3—Cash Dividends of Listed Companies, other applicable
laws, regulations and normative documents, as well as the Company’s Articles of Association. To date, the
Company has made a total of 16 cash dividend distributions, with aggregate cash dividends exceeding RMB10.358
billion. Going forward, the Company will continue to maintain a dynamic balance among corporate development,
performance growth and shareholder returns in light of its stage of development, with a view to establishing a long-
term, stable and sustainable shareholder value return mechanism.
4. Implement Share Repurchases and Shareholding Increases to Boost Market Confidence
Based on its confidence in the Company’s future development prospects and recognition of its long-term value,
and to protect the interests of investors, particularly minority investors, strengthen investor confidence, facilitate the
reasonable return of the Company’s share price to its long-term intrinsic value, and promote the Company’s stable
and sustainable development, the Company and its controlling shareholder, Rongsheng Holdings, have actively
implemented share repurchase and shareholding increase plans.
Since the Company conducted its first share repurchase on March 29, 2022, it has implemented three phases
of share repurchase plans, all of which have been completed. The Company repurchased a total of 553,232,858
shares, representing 5.4637% of its current total share capital, for an aggregate transaction amount of
RMB6,987,904,924.02, excluding transaction fees. Details are set out in the table below:
Repurchase
Repurchase period
Number of shares
repurchased (shares)
Amount to be
repurchased (RMB 100
million)
Repurchased amount
(RMB)
Phase I (cancelled)
2022.3.29-2022.8.2
136,082,746
10-20
1,998,203,937.31
Phase II (all
repurchased shares
used for the
Employee Stock
Ownership Plan)
2022.8.18-2023.7.27
147,862,706
10-20
1,989,986,431.34
Phase III (of which
5,152,595 shares
have been used for
the Employee Stock
Ownership Plan)
2023.8.28-2024.8.19
269,287,406
15-30
2,999,714,555.37
Total
553,232,858
-
6,987,904,924.02

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From January 22, 2024 to September 30, 2025, the Company’s controlling shareholder, Rongsheng Holdings,
implemented three shareholding increase plans, all of which have been completed. Rongsheng Holdings increased
its shareholding in the Company by a total of 289,064,301 shares, representing 2.89% of the Company’s current
total share capital, for an aggregate amount of approximately RMB2,705.4922 million. Details are set out in the
table below:
Share
increase items
Share increase period
Number of shares
increased (shares)
Amount to be increased
(RMB 100 million)
Amount increased
(RMB 10,000)
Phase I

2024.1.22-2024.7.18
115,530,037
10-20
118,805.82
Phase II

2024.8.21-2025.2.20
56,892,217
5-10
50,487.35
Phase III

2025.4.8-2025.9.30
116,642,047
10-20
101,256.05
Total
289,064,301
-
270,549.22
5. Standardize corporate governance and deliver corporate value
The Company strictly complies with applicable laws and regulations and continuously improves its corporate
governance structure. It has established a modern corporate governance system comprising the General Meeting of
Shareholders, the Board of Directors and its specialized committees, including the Audit Committee, as well as
senior management. The powers and responsibilities relating to decision-making, execution and supervision are
clearly defined, with effective checks and balances in place. The Company has also established and continuously
improved its internal control system, standardized its operating procedures and promoted the ongoing optimization
of its internal control framework. The Company remains independent in terms of its business, assets, personnel,
organizational structure and finance, and has a complete business system and the capability to operate independently.
The Company strictly adheres to the principles of truthfulness, accuracy, completeness, timeliness and fairness
and continuously improves the effectiveness and transparency of its information disclosure. Guided by investor
needs, the Company continues to present information concerning its operations and other matters to investors at
multiple levels, from multiple perspectives and through comprehensive channels. Meanwhile, the Company
continues to broaden and deepen its communications with investors and improve its open, fair, transparent and
multidimensional investor communication channels, enabling investors to gain a more direct and comprehensive
understanding of the Company’s core value and strengthening their confidence in the Company. Going forward, the
Company will continue to focus on its principal businesses, remain investor-oriented and continue to implement the
Action Plan for the “Dual Enhancement of Quality and Returns.”
The Company will pursue sustainable and sound development and endeavor to contribute to stabilizing the
market and confidence through standardized corporate governance and proactive shareholder returns.



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Section IV Corporate Governance, Environment and Society
I. Changes in the Company’s Directors and Senior Management
□ Applicable R Not applicable
There were no changes in the Company’s Directors or Senior Management during the Reporting Period. For details,
please refer to the 2025 Annual Report.
II. Profit Distribution and Conversion of Capital Reserve into Share Capital during the
Reporting Period
□ Applicable R Not applicable
For the interim period, the Company does not plan to distribute any cash dividend, issue any bonus shares, or convert
any capital reserve into share capital.
III. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans or Other
Employee Incentives
R Applicable □ Not applicable
1. Equity Incentives
Not applicable.
2. Implementation of the Employee Stock Ownership Plan
R Applicable □ Not applicable
All valid employee stock ownership plans during the Reporting Period
Scope of Employees
Number of
Employees
Total Number
of Shares Held
(Shares)
Changes
Percentage of the
Listed
Company’s Total
Share Capital
Sources of Funds for
Implementation of the
Plan
Directors and Senior
Management of the
Company, and eligible
employees of the Company
and its controlled or wholly-
owned subsidiaries
1,404
153,015,301
Not applicable
1.53%
Employees’ self-funded
contributions and funds
obtained through other
means permitted by
laws and regulations

Shareholdings of Directors and Senior Management in the Employee Stock Ownership Plan during the Reporting
Period
Name
Position
Number of Shares Held at
the Beginning of the
Reporting Period (Shares)
Number of Shares Held
at the End of the
Reporting Period
(Shares)
Percentage of the
Listed Company’s
Total Share Capital

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Xiang Jiongjiong,
Zhou Xianhe and
Wang Yafang
Directors and
Senior
Management
0
0
0.00%
Changes in asset management institutions during the Reporting Period
□ Applicable R Not applicable
Changes in equity arising from holders’ disposal of plan units and other circumstances during the Reporting Period
□ Applicable R Not applicable
Exercise of shareholder rights during the Reporting Period
According to the 2026 Employee Stock Ownership Plan (Draft) of Rongsheng Petrochemical Co., Ltd.,
participants in the Employee Stock Ownership Plan voluntarily waive the voting rights attached to the Company
shares indirectly held through their participation in the Employee Stock Ownership Plan. They are entitled to other
shareholder rights except for voting rights at the General Meeting of Shareholders of the listed company, including
rights to dividends, rights to subscribe for shares in rights offerings, rights to shares converted from capital reserves
and other rights to asset returns.
Other circumstances and explanations relating to the Employee Stock Ownership Plan during the Reporting Period
□ Applicable R Not applicable
Changes in members of the Management Committee of the Employee Stock Ownership Plan
□ Applicable R Not applicable
Financial impact of the Employee Stock Ownership Plan on the listed company during the Reporting Period and
the relevant accounting treatment
RApplicable □ Not applicable
The underlying shares of the Employee Stock Ownership Plan are sourced from shares repurchased by the
Company. The Company will perform the relevant accounting treatment in accordance with the Accounting
Standards for Business Enterprises No. 11—Share-based Payments and the Company’s accounting policies.
Termination of the Employee Stock Ownership Plan during the Reporting Period
□ Applicable R Not applicable
Other explanations:
None.
3. Other Employee Incentives
□ Applicable R Not applicable
IV. Environmental Information Disclosure
Whether the listed company and its major subsidiaries are included in the list of enterprises legally required to
disclose environmental information
RYes □ No




Full text of 2026 Semi-Annual Report
35 / 214


The Company must comply with the disclosure requirements for the chemical industry as outlined in the Shenzhen
Stock Exchange Guidelines for Self-Regulatory Supervision of Listed Companies No. 3 – Industry Information
Disclosure.
Information on Environmental Accidents Involving the Listed Company
None
Number of companies included in the list of ente
rprises legally
required to disclose environmental information
(number)
9
S/N
Name of the company
Index for searching environmental information disclosure reports in ac
cordance with the law
1
Rongsheng Petrochemical Co., Ltd.
https://mlzj.sthjt.zj.gov.cn/eps/index/enterprise-more?code=913300002556
93873W&uniqueCode=3c406d8e3223fa92&date=2025&type=true&isSear
ch=true
2
Zhejiang Petroleum & Chemical Co., Ltd.
https://mlzj.sthjt.zj.gov.cn/eps/index/enterprise-more?code=913309003440
581426&uniqueCode=1056c787e9ef884a&date=2025&type=true&isSearc
h=true
3
Zhejiang Petroleum & Chemical Co., Ltd.
(Mamu Oil Depot)
https://mlzj.sthjt.zj.gov.cn/eps/index/enterprise-more?code=913309003440
581426&uniqueCode=0b60a837e866388c&date=2025&type=true&isSearc
h=true
4
ZPC Zheyou Technology Co., Ltd.
https://mlzj.sthjt.zj.gov.cn/eps/index/enterprise-more?code=91330900MA2
DMDUK27&uniqueCode=2a12c41d235c882b&date=2025&type=true&isS
earch=true
5
Ningbo Zhongjin Petrochemical Co., Ltd.
https://mlzj.sthjt.zj.gov.cn/eps/index/enterprise-more?code=913302117645
27945N&uniqueCode=3cb00cd1ff3a7624&date=2025&type=true&isSearc
h=true
6
Ningbo Niluoshan New Energy Co., Ltd.
https://mlzj.sthjt.zj.gov.cn/eps/index/enterprise-more?code=91330211MA2
CHYTM1K&uniqueCode=947307eeb99e5388&date=2025&type=true&isS
earch=true
7
Yisheng Dahua Petrochemical Co., Ltd.
https://qyxxpl.ywzh.lnsthj.cn:8802/home/companiesreport?enterId=682078
492708869&publishdataId
8
Zhejiang Shengyuan Chemical Fiber Co., L
td.
https://mlzj.sthjt.zj.gov.cn/eps/index/enterprise-
more?code=91330109754409144F&uniqueCode=01dd3ddeb8ed1d86&dat
e=2025&type=true&isSearch=true
9
Zhejiang Yongsheng Technology Co., Ltd.
https://mlzj.sthjt.zj.gov.cn/eps/index/enterprise-
more?code=91330621MA2887DL53&uniqueCode=e0aae09c993e2f66&da
te=2025&type=true&isSearch=true

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36 / 214
V. Social responsibility information
Rongsheng Petrochemical upholds a people-oriented development philosophy featuring win-win cooperation
and deeply integrates social responsibility management into its business strategy. During the Reporting Period, the
Company continued to focus its efforts on key areas including customer service, supply chain management and
public welfare. Through concrete actions, the Company fulfilled its responsibilities as a corporate citizen and
demonstrated its strong sense of responsibility and commitment.
In terms of customer service, the Company has established multilevel and multidimensional customer service
and communication channels, including communications with business representatives, on-site visits, seminars,
online questionnaires, telephone calls, WeChat and email, ensuring a customer complaint resolution rate of 100%.
The Company has established an e-commerce platform for material procurement and product sales that supports
round-the-clock operation through multiple types of terminals. In 2025, approximately 4.8346 million tonnes of
products were transacted through the platform. The Company strictly protects customer privacy and information
security. No information security incidents or customer privacy breaches occurred in 2025.
In terms of supply chain management, the Company is committed to building a responsible supply chain
ecosystem and ensuring compliance throughout the entire process, including tendering, procurement, acceptance
and payment. The Company regards environmental protection requirements as a baseline criterion for supplier
selection, conducts supplier evaluations at least once a year, and implements tiered supplier management. The
Company actively supports the development of local suppliers, prioritizes the procurement of local tea, ceramics
and silk products, and promotes local agricultural products and agricultural products from poverty-stricken areas.
The Company treats small and medium-sized enterprises equally, ensures that all amounts payable are settled on
time, and has no overdue payments to small and medium-sized enterprises.
In terms of public welfare, guided by the philosophy of “Remaining Loyal to the Party and Serving the People
through Prosperous Development,” the Company is enthusiastic about public welfare undertakings, actively makes
charitable donations and shares the benefits of its development with society. The Company is committed to carrying
out school-enterprise cooperation, providing assistance to students and teachers, offering mutual medical assistance,
supporting procurement-based assistance programs, conducting poverty alleviation and assistance for people in need,
and caring for special groups. It also encourages employees to participate in voluntary services such as blood
donation and visits to people in need.
The Company will, as always, fulfill its corporate social responsibilities, share the benefits of development
with society, actively promote civilized and harmonious social values, and achieve mutual growth with society.

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37 / 214
Section V Important Matters
I. Commitments Fulfilled during the Reporting Period and Commitments Overdue and
Unfulfilled as at the End of the Reporting Period by the Company’s Actual Controller,
Shareholders, Related Parties, Acquirers, the Company and Other Commitment-Making
Parties
RApplicable □ Not applicable
Cause
of
Commitment
Commitment
Party
Commitment
Type
Content of Commitment
Time
of
Commitment
Term of
Commit
ment
Fulfillme
nt
Share reform
commitment
N/A
N/A
N/A

N/A
N/A
Commitments
stated in the
Report
of
Acquisition or
Equity
Change
Report
N/A
N/A
N/A

N/A
N/A
Commitments
made in assets
reorganization
N/A
N/A
N/A

N/A
N/A
Commitment
made
during
IPO
or
re-
financing

Directors and
supervisors of
the Company
Shareholding
reduction
commitment
Directors Li Shuirong and Li
Yongqing and Supervisor Li
Guoqing undertake that, during
their respective terms of office,
the number of shares of the
issuer transferred by each of
them annually, including shares
held directly and indirectly, shall
not exceed 25% of the total
number of shares of the issuer
held by such person, including
shares
held
directly
and
indirectly; and that, within six
months after leaving office, they
shall not transfer any shares of
the issuer held directly or
indirectly by them.
November
2,
2010
Long
term
Commitm
ents
honored
Pre-IPO
Shareholders
Share lock-up
commitment
Within 36 months from the date
of listing of the Company’s
shares, the pre-IPO shareholders
shall neither transfer nor entrust
any other person to manage the
shares of the issuer directly or
indirectly
held
by
them,
including
shares
derived
therefrom, such as bonus shares
November
2,
2010
Long
term
Commitm
ents
honored

Full text of 2026 Semi-Annual Report
38 / 214
and shares converted from
capital reserves, nor require the
issuer to repurchase such shares.
Equity
incentive
commitment
N/A
N/A
N/A

N/A
N/A
Other
commitments
made
to
minority
shareholders
of
the
Company
Pre-IPO
Shareholders
Commitments
regarding
competition
with
peers,
related-party
transactions,
and
occupation of
funds
Rongsheng
Holdings,
the
controlling shareholder of the
Company, signed the Non-
competition Agreement with the
Company and promised not to
compete with the Company in
the same industry. Li Shuirong,
the de facto controller and the
largest
natural
person
shareholder of the Company,
and
other
shareholders,
including Li Yongqing, Li
Guoqing,
Ni
Xincai,
Xu
Yuejuan and Zhao Guanlong,
respectively issued the Letter of
Commitment
on
Avoiding
Horizontal
Competition
and
promised not to compete with
the company in the same
industry.
November
2,
2010
Long
term
Commitm
ents
honored
Other
commitments

Zhejiang
Rongsheng
Holding
Group
Co.,
Ltd.
Shareholding
increase
commitment
Rongsheng Holdings promises
not to voluntarily reduce its
holdings
of
Rongsheng
Petrochemical shares during the
period of shareholding increase
and within the statutory period,
and to strictly abide by relevant
regulations.
January
19,
2024
During
the share
increase
period
and
statutory
time
limit
Being
duly
performed
, no breach
of
commitme
nt
Zhejiang
Rongsheng
Holding
Group
Co.,
Ltd.
Shareholding
increase
commitment
Rongsheng Holdings promises
not to voluntarily reduce its
holdings
of
Rongsheng
Petrochemical shares during the
period of shareholding increase
and within the statutory period,
and to strictly abide by relevant
regulations.
August 21, 2024
During
the share
increase
period
and
statutory
time
limit
Being
duly
performed
, no breach
of
commitme
nt
Zhejiang
Rongsheng
Holding
Group
Co.,
Ltd.
Shareholding
increase
commitment
Rongsheng Holdings promises
not to voluntarily reduce its
holdings
of
Rongsheng
Petrochemical shares during the
period of shareholding increase
and within the statutory period,
and to strictly abide by relevant
regulations.
April 7, 2025
During
the share
increase
period
and
statutory
time
limit
Being
duly
performed
, no breach
of
commitme
nt
Whether
the
commitments
are performed
on time
Yes

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39 / 214
If
the
commitments
have not been
fulfilled after
the deadline,
the
specific
reasons for the
failure
to
complete the
performance
and the work
plan for the
next
step
should
be
explained
in
details
N/A
II. Non-operating Occupation of Funds of the Listed Company by the Controlling Shareholder
and Other Related Parties
□ Applicable R Not applicable
There were no non-operating fund misappropriations of the listed company by its controlling shareholder or other
related parties during the reporting period.
III. Non-compliant External Guarantees
□ Applicable R Not applicable
There were no non-compliant external guarantees during the Reporting Period.
IV. Appointment and Dismissal of Accounting Firms
Whether the semi-annual financial report has been audited
□ Yes R No
The Company’s semi-annual financial report has not been audited.
V. Explanation of the Board of Directors on the Accounting Firm’s “Non-standard Audit
Report” for the Reporting Period
□ Applicable R Not applicable
VI. Explanation of the Board of Directors regarding Matters Relating to the “Non-standard
Audit Report” for the Previous Year
□ Applicable R Not applicable

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VII. Matters Relating to Bankruptcy and Reorganization
□ Applicable R Not applicable
There were no matters relating to bankruptcy or reorganization during the Reporting Period.
VIII. Litigation Matters
Major litigation and arbitration matters
□ Applicable R Not applicable
The Company had no major litigation or arbitration matters during the Reporting Period.
Other litigation matters
□ Applicable R Not applicable
IX. Punishments and Rectifications
□ Applicable R Not applicable
There were no punishments or rectifications involving the Company during the Reporting Period.
X. Integrity conditions of the Company, its controlling shareholders and actual controllers
□ Applicable R Not applicable

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41 / 214
XI. Major Related Transactions
1. Related party transactions related to daily operations
RApplicable □ Not applicable
Related
party
Relationship
Type of
related
party
transaction
Content
s of
related
party
transact
ion
Pricing
principles
of related
party
transactio
n
Price of
related
party
transactio
n
Amount of
related
party
transaction
(RMB
10,000)
Proportion
to similar
transaction
amount
Trading
limit
approved
(RMB
10,000)
Above the
approved
limit or
not
Settlement
of related
party
transaction
Available
market
price for
similar
transaction
Disclosure
Date
Disclosure index
Rongsheng
Holdings
Controlling
shareholder
Purchase of
goods
Coal and
other
materials
Market
price
Market
price
273,114.12
44.57%
600,000
No
Bank
acceptance
bills, cash,
etc.
Market
price
April 28,
2026
https://www.cninfo.com.c
n/new/disclosure/detail?pl
ate=szse&orgId=9900015
502&stockCode=002493
&announcementId=12252
15344&announcementTi
me=2026-04-28
Saudi
Aramco
Shareholder
holding more
than 5% of
total shares
Purchase of
goods
Crude
oil, fuel
oil,
ethylene
glycol
Market
price
Market
price
2,380,456.1
2
29.44%
15,000,00
0
No
Letter of
credit, cash,
etc.
Market
price
April 28,
2026
https://www.cninfo.com.c
n/new/disclosure/detail?pl
ate=szse&orgId=9900015
502&stockCode=002493
&announcementId=12252
15344&announcementTi
me=2026-04-28
Zhejiang
Yisheng
Associate
Sales of
goods
PTA,
PX,
meta-
xylene,
etc.
Market
price
Market
price
436,198.4
11.51%
3,000,000
No
Bank
acceptance
bills, cash,
etc.
Market
price
April 28,
2026
https://www.cninfo.com.c
n/new/disclosure/detail?pl
ate=szse&orgId=9900015
502&stockCode=002493
&announcementId=12252
15344&announcementTi
me=2026-04-28
Total
--
--
3,089,768.6
4
--
18,600,00
0
--
--
--
--
--
Details of return of large sales
N/A
Actual performance during the reporting period where the total amount of daily related party transactions to occur in
the current period is estimated by category (if any)
During the reporting period, all related-party transactions actually conducted by the Company that
were subject to decision-making procedures under the applicable rules were submitted in advance to
and approved by the Board of Directors and the General Meeting of Shareholders, respectively. The

Full text of 2026 Semi-Annual Report
42 / 214
actual amounts of the related-party transactions did not exceed the estimated limits, and the pricing
of such transactions was fair.
Reason for substantial differences between the transaction price and market reference price (if applicable)
N/A


Full text of 2026 Semi-Annual Report
43 / 214
2. Related party transactions arising from the acquisition and sale of assets or equity
□ Applicable R Not applicable
The Company had no related party transactions related to the acquisition or sales of assets or equity during the
reporting period.
3. Related-party transactions for outward joint investment
□ Applicable R Not applicable
The Company had no related party transactions related to joint outward investment during the reporting period.
4. Related party transactions on credit and debt
□ Applicable R Not applicable
The Company had no related party transactions on credit and debt during the reporting period.
5. Transactions with financial companies with associated relationships
□ Applicable RNot applicable
There are no deposits, loans, credits or other financial operations between the Company and the related finance
companies, and the related party.
6. Transactions between the financial companies controlled by the company and related parties
□ Applicable R Not applicable
There are no deposits, loans, credits or other financial operations between the finance companies controlled by the
Company and the related party.
7. Other major related party transactions
□ Applicable R Not applicable
There were no other major related party transactions during the reporting period.
XII. Material Contracts and Their Performance
1. Status of entrustment, contracting and leasing
(1) Entrustment
□ Applicable R Not applicable
The Company had no entrustment during the reporting period.
(2) Contracting
□ Applicable R Not applicable
The Company had no contracting during the reporting period.

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(3) Leasing
□ Applicable R Not applicable
The Company had no leasing during the reporting period.

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45 / 214
2. Major guarantee
RApplicable □ Not applicable

Unit: RMB10,000
External Guarantees Provided by the Company and Its Subsidiaries (Excluding Guarantees Provided to Subsidiaries)
Name of
Guaranteed
Party
Disclosure Date
of the
Announcement
on the
Guarantee
Limit
Guarante
e Limit
Date of Actual
Occurrence
Actual
Guarante
e Amount
Type of
Guarantee
Collateral
, if any
Counter-
guarantee
Arrangement
s, if any
Guarantee
Term
Whether the
Guarantee
Has Been
Fulfilled
Whether the
Guarantee Is
Provided to a
Related Party
Guarantees Provided by the Company to Its Subsidiaries
Name of
Guaranteed
Party
Disclosure Date
of the
Announcement
on the
Guarantee
Limit
Guarante
e Limit
Date of Actual
Occurrence
Actual
Guarante
e Amount
Type of
Guarantee
Collateral
, if any
Counter-
guarantee
Arrangement
s, if any
Guarantee
Term
Whether the
Guarantee
Has Been
Fulfilled
Whether the
Guarantee Is
Provided to a
Related Party
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
September 28,
2025
675
Joint and several
liability guarantee


2026.9.28
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
September 28,
2025
12,150
Joint and several
liability guarantee


2026.10.28
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
January 4, 2026
1,200
Joint and several
liability guarantee


2026.7.4
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
January 4, 2026
1,200
Joint and several
liability guarantee


2027.1.4
No
Yes

Full text of 2026 Semi-Annual Report
46 / 214
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
January 4, 2026
1,200
Joint and several
liability guarantee


2027.7.4
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
January 4, 2026
1,200
Joint and several
liability guarantee


2028.1.4
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
January 4, 2026
1,200
Joint and several
liability guarantee


2028.7.4
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
January 4, 2026
24,000
Joint and several
liability guarantee


2029.1.4
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
July 30, 2025
360
Joint and several
liability guarantee


2026.7.30
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
March 2, 2026
1,700
Joint and several
liability guarantee


2026.9.2
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
March 10, 2026
1,300
Joint and several
liability guarantee


2026.9.2
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
September 9,
2025
695
Joint and several
liability guarantee


2026.9.9
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
July 30, 2025
360
Joint and several
liability guarantee


2027.1.30
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
March 2, 2026
1,700
Joint and several
liability guarantee


2027.3.2
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
March 10, 2026
1,300
Joint and several
liability guarantee


2027.3.2
No
Yes

Full text of 2026 Semi-Annual Report
47 / 214
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
September 9,
2025
695
Joint and several
liability guarantee


2027.3.9
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
July 30, 2025
2,520
Joint and several
liability guarantee


2027.7.30
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
March 2, 2026
1,700
Joint and several
liability guarantee


2027.9.2
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
March 10, 2026
1,300
Joint and several
liability guarantee


2027.9.2
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
September 9,
2025
4,865
Joint and several
liability guarantee


2027.9.9
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
March 2, 2026
11,900
Joint and several
liability guarantee


2028.3.2
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
March 10, 2026
9,100
Joint and several
liability guarantee


2028.3.2
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
January 1, 2026
10,000
Joint and several
liability guarantee


2026.12.15
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
April 21, 2026
10,000
Joint and several
liability guarantee


2027.4.20
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
June 17, 2026
20,000
Joint and several
liability guarantee


2027.6.16
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
November 25,
2025
7,500
Joint and several
liability guarantee


2026.11.24
No
Yes

Full text of 2026 Semi-Annual Report
48 / 214
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
November 25,
2025
2,500
Joint and several
liability guarantee


2026.11.24
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
December 3,
2025
5,000
Joint and several
liability guarantee


2026.12.2
No
Yes
Shengyuan
Chemical
Fiber
December 9,
2025
5,030,600
December 3,
2025
15,000
Joint and several
liability guarantee


2026.12.2
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
January 3, 2025
100
Joint and several
liability guarantee


2026.7.2
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
January 3, 2025
28,200
Joint and several
liability guarantee


2027.1.2
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
January 26,
2025
100
Joint and several
liability guarantee


2026.7.25
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
January 26,
2025
5,800
Joint and several
liability guarantee


2027.1.25
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
February 5,
2025
100
Joint and several
liability guarantee


2026.8.4
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
February 5,
2025
20,100
Joint and several
liability guarantee


2027.2.4
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
March 24, 2026
23,600
Joint and several
liability guarantee


2027.1.29
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
March 25, 2026
23,600
Joint and several
liability guarantee


2027.2.26
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
March 27, 2026
18,300
Joint and several
liability guarantee


2027.2.16
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
May 12, 2026
2,000
Joint and several
liability guarantee


2027.3.24
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
May 12, 2026
27,500
Joint and several
liability guarantee


2027.5.11
No
Yes

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49 / 214
Ningbo
ZJPC
December 9,
2025
5,030,600
November 11,
2025
36,000
Joint and several
liability guarantee


2026.11.11
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
December 4,
2025
9,999
Joint and several
liability guarantee


2026.12.4
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
January 16,
2026
20,000
Joint and several
liability guarantee


2027.1.16
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
January 20,
2026
50,000
Joint and several
liability guarantee


2027.1.20
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
January 21,
2026
39,600
Joint and several
liability guarantee


2027.1.21
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
January 26,
2026
11,000
Joint and several
liability guarantee


2027.1.26
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
January 26,
2026
30,000
Joint and several
liability guarantee


2027.1.26
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
December 12,
2025
2,000
Joint and several
liability guarantee


2026.12.9
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
December 12,
2025
36,000
Joint and several
liability guarantee


2027.1.6
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
March 12, 2026
500
Joint and several
liability guarantee


2026.9.10
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
March 12, 2026
500
Joint and several
liability guarantee


2027.3.10
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
March 12, 2026
9,000
Joint and several
liability guarantee


2027.4.7
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
December 16,
2025
30,000
Joint and several
liability guarantee


2026.12.16
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
January 19,
2026
20,000
Joint and several
liability guarantee


2027.1.19
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
January 27,
2026
27,000
Joint and several
liability guarantee


2027.1.27
No
Yes

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50 / 214
Ningbo
ZJPC
December 9,
2025
5,030,600
March 10, 2026
32,000
Joint and several
liability guarantee


2027.3.10
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
March 18, 2026
26,610
Joint and several
liability guarantee


2027.3.18
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
April 28, 2026
31,000
Joint and several
liability guarantee


2027.4.28
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
May 19, 2026
93,390
Joint and several
liability guarantee


2027.5.19
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
February 9,
2026
50,000
Joint and several
liability guarantee


2027.2.8
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
November 24,
2025
47,000
Joint and several
liability guarantee


2026.11.20
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
November 24,
2025
3,000
Joint and several
liability guarantee


2026.11.20
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
December 26,
2025
500
Joint and several
liability guarantee


2026.12.21
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
December 26,
2025
500
Joint and several
liability guarantee


2027.6.21
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
December 26,
2025
500
Joint and several
liability guarantee


2027.12.21
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
December 26,
2025
7,950
Joint and several
liability guarantee


2027.12.26
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
March 10, 2026
19,958.4
Joint and several
liability guarantee


2027.3.10
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
July 2, 2025
24,709.78
Joint and several
liability guarantee


2026.7.1
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
April 27, 2026
100
Joint and several
liability guarantee


2026.10.27
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
April 27, 2026
1,900
Joint and several
liability guarantee


2027.4.27
No
Yes

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51 / 214
Ningbo
ZJPC
December 9,
2025
5,030,600
April 27, 2026
8,000
Joint and several
liability guarantee


2027.5.27
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
November 14,
2025
9,700
Joint and several
liability guarantee


2026.11.13
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
March 13, 2026
10,802.83
Joint and several
liability guarantee


2027.3.13
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
March 19, 2026
26,080.91
Joint and several
liability guarantee


2026.12.26
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
March 20, 2026
14,240.01
Joint and several
liability guarantee


2026.12.26
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
April 9, 2026
13,500
Joint and several
liability guarantee


2026.12.26
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
April 17, 2026
33,000
Joint and several
liability guarantee


2026.12.26
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
April 28, 2026
32,676.25
Joint and several
liability guarantee


2026.12.26
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
September 25,
2025
5,555.56
Joint and several
liability guarantee


2026.9.20
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
September 25,
2025
5,555.56
Joint and several
liability guarantee


2026.12.20
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
September 25,
2025
5,555.56
Joint and several
liability guarantee


2027.3.20
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
September 25,
2025
5,555.56
Joint and several
liability guarantee


2027.6.20
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
September 25,
2025
5,555.56
Joint and several
liability guarantee


2027.9.20
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
September 25,
2025
5,555.56
Joint and several
liability guarantee


2027.10.25
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
January 22,
2026
10,000
Joint and several
liability guarantee


2026.7.22
No
Yes

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52 / 214
Ningbo
ZJPC
December 9,
2025
5,030,600
February 10,
2026
2,400
Joint and several
liability guarantee


2026.8.10
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
April 14, 2026
5,700
Joint and several
liability guarantee


2026.10.14
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
September 16,
2025
9.09
Joint and several
liability guarantee


2026.10.13
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
April 14, 2026
30.77
Joint and several
liability guarantee


2026.10.11
No
Yes
Ningbo
ZJPC
December 9,
2025
5,030,600
May 11, 2026
59.03
Joint and several
liability guarantee


2026.11.29
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
May 22, 2025
7,280
Joint and several
liability guarantee


2028.5.22
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
May 28, 2025
8,720
Joint and several
liability guarantee


2028.5.22
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
June 10, 2025
10,992
Joint and several
liability guarantee


2028.6.9
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
June 10, 2025
758
Joint and several
liability guarantee


2026.12.21
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
June 12, 2025
11,616
Joint and several
liability guarantee


2028.6.9
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
June 12, 2025
801
Joint and several
liability guarantee


2026.12.21
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
June 19, 2025
6,074.33
Joint and several
liability guarantee


2028.6.9
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
June 19, 2025
441
Joint and several
liability guarantee


2026.12.21
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
July 11, 2025
3,303.78
Joint and several
liability guarantee


2026.7.9
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
July 15, 2025
8,600
Joint and several
liability guarantee


2026.7.14
No
Yes

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53 / 214
Yisheng
Dahua
December 9,
2025
5,030,600
July 18, 2025
8,000
Joint and several
liability guarantee


2026.7.17
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
January 8, 2026
4,952.01
Joint and several
liability guarantee


2029.1.8
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
January 8, 2026
2,000
Joint and several
liability guarantee


2027.6.21
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
January 8, 2026
2,000
Joint and several
liability guarantee


2028.6.21
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
January 9, 2026
3,650.67
Joint and several
liability guarantee


2029.1.8
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
January 13,
2026
7,498.07
Joint and several
liability guarantee


2029.1.8
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
January 14,
2026
7,498.07
Joint and several
liability guarantee


2029.1.8
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
January 22,
2026
7,543.47
Joint and several
liability guarantee


2029.1.8
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
February 6,
2026
7,496.72
Joint and several
liability guarantee


2029.1.8
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
February 13,
2026
2,360.98
Joint and several
liability guarantee


2029.1.8
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
March 23, 2026
5,240.96
Joint and several
liability guarantee


2027.3.12
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
March 26, 2026
5,240.96
Joint and several
liability guarantee


2027.3.18
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
April 2, 2026
10,815.98
Joint and several
liability guarantee


2027.3.25
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
April 15, 2026
10,390.63
Joint and several
liability guarantee


2027.3.30
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
May 14, 2026
11,700.53
Joint and several
liability guarantee


2027.5.7
No
Yes

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54 / 214
Yisheng
Dahua
December 9,
2025
5,030,600
June 18, 2026
16,613
Joint and several
liability guarantee


2027.6.11
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
August 27,
2025
476.34
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
August 27,
2025
50
Joint and several
liability guarantee


2027.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
August 27,
2025
50
Joint and several
liability guarantee


2027.7.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
August 27,
2025
50
Joint and several
liability guarantee


2028.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
August 27,
2025
50
Joint and several
liability guarantee


2028.7.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
August 27,
2025
50
Joint and several
liability guarantee


2029.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
August 27,
2025
50
Joint and several
liability guarantee


2029.7.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
August 27,
2025
476.34
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
September 10,
2025
182.67
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
September 10,
2025
182.67
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
September 26,
2025
15.75
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
September 26,
2025
15.75
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
October 23,
2025
75.17
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
October 23,
2025
75.17
Joint and several
liability guarantee


2030.1.23
No
Yes

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55 / 214
Yisheng
Dahua
December 9,
2025
5,030,600
October 30,
2025
14.2
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
October 30,
2025
14.2
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
November 20,
2025
162.17
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
November 20,
2025
162.17
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
November 27,
2025
58
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
November 27,
2025
58
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
December 19,
2025
3,552.73
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
December 19,
2025
3,552.73
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
January 9, 2026
525.3
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
January 9, 2026
525.3
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
January 21,
2026
226.92
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
January 21,
2026
226.92
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
February 5,
2026
200.64
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
February 5,
2026
200.64
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
February 13,
2026
528.1
Joint and several
liability guarantee


2030.8.27
No
Yes

Full text of 2026 Semi-Annual Report
56 / 214
Yisheng
Dahua
December 9,
2025
5,030,600
February 13,
2026
528.1
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
March 17, 2026
12.8
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
March 17, 2026
12.8
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
May 14, 2026
60
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
May 14, 2026
60
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
May 29, 2026
54.85
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
May 29, 2026
54.85
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
June 5, 2026
468.85
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
June 5, 2026
468.85
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
June 11, 2026
153.31
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
June 11, 2026
153.31
Joint and several
liability guarantee


2030.1.23
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
June 30, 2026
368.99
Joint and several
liability guarantee


2030.8.27
No
Yes
Yisheng
Dahua
December 9,
2025
5,030,600
June 30, 2026
368.99
Joint and several
liability guarantee


2030.1.23
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
May 24, 2022
2,369
Joint and several
liability guarantee


2026.12.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
October 14,
2022
436.89
Joint and several
liability guarantee


2026.12.15
No
Yes

Full text of 2026 Semi-Annual Report
57 / 214
Yongsheng
Technology
December 9,
2025
5,030,600
September 26,
2023
872
Joint and several
liability guarantee


2026.12.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
October 12,
2022
2,485.17
Joint and several
liability guarantee


2026.11.16
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
October 12,
2022
2,485.17
Joint and several
liability guarantee


2027.5.17
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
October 12,
2022
1,596.42
Joint and several
liability guarantee


2027.11.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
October 24,
2022
888.76
Joint and several
liability guarantee


2027.11.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
October 24,
2022
2,485.17
Joint and several
liability guarantee


2028.5.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
October 24,
2022
2,485.17
Joint and several
liability guarantee


2028.11.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
October 24,
2022
2,485.17
Joint and several
liability guarantee


2029.5.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
October 24,
2022
1,420.13
Joint and several
liability guarantee


2029.11.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
November 9,
2022
1,065.05
Joint and several
liability guarantee


2029.11.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
November 9,
2022
1,135.41
Joint and several
liability guarantee


2030.5.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
November 28,
2022
1,349.76
Joint and several
liability guarantee


2030.5.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
November 28,
2022
1,248.14
Joint and several
liability guarantee


2030.11.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
December 14,
2022
1,237.04
Joint and several
liability guarantee


2030.11.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
December 14,
2022
1,469.8
Joint and several
liability guarantee


2031.5.15
No
Yes

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Yongsheng
Technology
December 9,
2025
5,030,600
January 19,
2023
1,015.38
Joint and several
liability guarantee


2031.5.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
January 19,
2023
2,485.17
Joint and several
liability guarantee


2031.11.16
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
January 19,
2023
836.98
Joint and several
liability guarantee


2032.5.17
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
February 14,
2023
1,648.19
Joint and several
liability guarantee


2032.5.17
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
February 14,
2023
1,497.68
Joint and several
liability guarantee


2032.11.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
April 25, 2023
987.5
Joint and several
liability guarantee


2032.11.15
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
April 25, 2023
694.72
Joint and several
liability guarantee


2033.5.16
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
May 17, 2023
1,413.52
Joint and several
liability guarantee


2033.5.16
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
October 31,
2023
376.94
Joint and several
liability guarantee


2033.5.16
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
July 9, 2025
5,000
Joint and several
liability guarantee


2026.7.9
No
Yes
Yongsheng
Technology
December 9,
2025
5,030,600
July 15, 2025
5,000
Joint and several
liability guarantee


2026.7.15
No
Yes
ZPC
December 9,
2025
6,260,000
July 31, 2018
165,762.75
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
August 10,
2018
32,309.52
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
March 18, 2019
57,375
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
August 3, 2018
6,702.93
Joint and several
liability guarantee


2030.7.30
No
Yes

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ZPC
December 9,
2025
6,260,000
August 9, 2018
11,008.35
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
August 9, 2018
16,510.23
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
August 10,
2018
2,864.21
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
August 10,
2018
5,503.17
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
August 13,
2018
2,038.98
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
August 16,
2018
19,370.82
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
August 15,
2018
4,080
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
August 31,
2018
25,500
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
October 23,
2018
33,614.61
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
October 26,
2018
6,110.82
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
October 30,
2018
2,854.57
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
October 31,
2018
12,235.41
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
November 7,
2018
3,887.14
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
November 8,
2018
7,949.02
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
November 8,
2018
5,913.96
Joint and several
liability guarantee


2030.7.30
No
Yes

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ZPC
December 9,
2025
6,260,000
August 3, 2018
2,875.89
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
November 9,
2018
9,701.22
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 1, 2019
14,863.95
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 3, 2019
10,188.27
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 4, 2019
1,631.18
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
November 9,
2018
4,162.62
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 4, 2019
7,132.86
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 8, 2019
3,872.94
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 9, 2019
10,174.5
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 10,
2019
5,095.53
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 14,
2019
2,455.04
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 15,
2019
7,346.04
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 31,
2019
8,160
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 30,
2019
1,223.39
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
February 1,
2019
6,714.15
Joint and several
liability guarantee


2030.7.30
No
Yes

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ZPC
December 9,
2025
6,260,000
January 4, 2019
1,631.49
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
February 1,
2019
4,282.47
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
February 1,
2019
3,464.96
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
February 3,
2019
14,276.43
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
February 11,
2019
1,841.28
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
February 12,
2019
2,648.43
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
February 11,
2019
10,907.88
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
February 27,
2019
41,999.11
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
March 1, 2019
4,679.25
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
February 1,
2019
1,828.35
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
March 7, 2019
2,852.94
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
March 7, 2019
7,132.86
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
March 8, 2019
815.59
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
March 8, 2019
2,445.85
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
March 12, 2019
1,836.51
Joint and several
liability guarantee


2030.7.30
No
Yes

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ZPC
December 9,
2025
6,260,000
March 13, 2019
1,227.52
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
March 15, 2019
9,996.51
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
March 29, 2019
18,360
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
April 8, 2019
2,034.9
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
April 10, 2019
407.8
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
April 11, 2019
815.54
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
March 7, 2019
1,218.9
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
April 11, 2019
1,429.53
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
April 12, 2019
3,470.55
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
April 12, 2019
409.17
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
April 12, 2019
2,852.94
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
April 15, 2019
1,019.11
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
May 1, 2019
4,476.78
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
April 11, 2019
609.45
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
May 7, 2019
2,281.23
Joint and several
liability guarantee


2030.7.30
No
Yes

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ZPC
December 9,
2025
6,260,000
May 7, 2019
17,340
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
May 7, 2019
4,484.94
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
May 9, 2019
1,834.39
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
May 10, 2019
611.69
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
May 13, 2019
1,022.93
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
May 13, 2019
1,426.62
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
May 16, 2019
6,525.96
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
June 1, 2019
2,445.96
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
June 4, 2019
7,133.74
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
May 7, 2019
976.65
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
June 5, 2019
4,080
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
June 5, 2019
5,095
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
June 6, 2019
2,446.78
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
June 6, 2019
35,700
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
June 6, 2019
2,045.87
Joint and several
liability guarantee


2030.7.30
No
Yes

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ZPC
December 9,
2025
6,260,000
June 12, 2019
12,235.41
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
June 20, 2019
204.51
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
July 1, 2019
51,000
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
July 5, 2019
2,242.03
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
July 8, 2019
815.59
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
July 8, 2019
17,850
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
July 10, 2019
8,160
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
July 10, 2019
2,659.62
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
July 10, 2019
1,836.51
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
June 5, 2019
1,016.43
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
July 10, 2019
1,429.53
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
July 11, 2019
609.45
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
July 16, 2019
2,034.9
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
July 16, 2019
3,667.92
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
July 31, 2019
22,426.23
Joint and several
liability guarantee


2030.7.30
No
Yes

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ZPC
December 9,
2025
6,260,000
August 2, 2019
4,076.42
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
August 7, 2019
2,045.87
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
August 7, 2019
4,996.98
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
August 7, 2019
3,055.41
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
September 23,
2019
2,037.45
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
September 23,
2019
1,636.08
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
September 29,
2019
44,370
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
September 30,
2019
6,118.98
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
August 7, 2019
2,144.04
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
October 9,
2019
2,135.88
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
October 21,
2019
5,913.96
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
October 21,
2019
3,865.29
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
October 29,
2019
26,520
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
November 15,
2019
5,104.59
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
October 9,
2019
916.98
Joint and several
liability guarantee


2030.7.30
No
Yes

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66 / 214
ZPC
December 9,
2025
6,260,000
November 18,
2019
1,714.11
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
November 19,
2019
731.85
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
November 21,
2019
74,970
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
December 18,
2019
1,714.11
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
December 19,
2019
2,852.94
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
December 24,
2019
3,063.57
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 16,
2020
3,872.94
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 16,
2020
2,243.49
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 16,
2020
1,204.11
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 16,
2020
5,913.96
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
January 16,
2020
1,241.85
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
February 14,
2020
1,420.66
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
February 18,
2020
415.14
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
March 16, 2020
2,648.43
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
March 19, 2020
4,077.45
Joint and several
liability guarantee


2030.7.30
No
Yes

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67 / 214
ZPC
December 9,
2025
6,260,000
March 31, 2020
10,200
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
April 1, 2020
16,575
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
April 17, 2020
1,016.43
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
April 17, 2020
1,429.53
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
May 13, 2020
2,040
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
June 3, 2020
2,445.96
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
June 5, 2020
2,445.96
Joint and several
liability guarantee


2030.7.30
No
Yes
ZPC
December 9,
2025
6,260,000
July 4, 2023
5,321.11
Joint and several
liability guarantee


2027.3.15
No
Yes
ZPC
December 9,
2025
6,260,000
January 20,
2021
67,230
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
January 20,
2021
19,671
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
January 20,
2021
74,700
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
January 20,
2021
249,000
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
January 20,
2021
109,062
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
January 20,
2021
21,613.2
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
January 20,
2021
7,470
Joint and several
liability guarantee


2032.11.15
No
Yes

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ZPC
December 9,
2025
6,260,000
January 21,
2021
28,386
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
January 21,
2021
49,800
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
January 21,
2021
49,800
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
January 21,
2021
9,960
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
January 22,
2021
28,386
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
February 4,
2021
47,310
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
February 5,
2021
37,350
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
February 5,
2021
34,860
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
February 5,
2021
14,940
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
February 5,
2021
49,800
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
February 5,
2021
92,130
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
February 5,
2021
56,772
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
February 7,
2021
28,386
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
March 18, 2021
10,458
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
March 18, 2021
17,748.72
Joint and several
liability guarantee


2032.11.15
No
Yes

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69 / 214
ZPC
December 9,
2025
6,260,000
March 19, 2021
24,900
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
March 19, 2021
29,880
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
March 22, 2021
49,800
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
March 22, 2021
49,800
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
March 25, 2021
24,900
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
March 26, 2021
124,500
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
March 26, 2021
39,840
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
April 28, 2021
14,940
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
April 28, 2021
64,740
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
April 28, 2021
30,876
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
April 28, 2021
24,900
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
April 28, 2021
15,438
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
April 29, 2021
39,840
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
April 30, 2021
2,490
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
April 30, 2021
2,490
Joint and several
liability guarantee


2032.11.15
No
Yes

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70 / 214
ZPC
December 9,
2025
6,260,000
June 29, 2021
49,800
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
July 5, 2021
164,340
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
July 5, 2021
24,900
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
July 6, 2021
19,920
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
July 6, 2021
34,860
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
July 6, 2021
72,210
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
July 6, 2021
72,210
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
July 6, 2021
74,700
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
July 6, 2021
149,400
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
July 6, 2021
19,920
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
September 15,
2021
50,278.08
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
September 17,
2021
19,920
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
September 17,
2021
19,422
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
September 17,
2021
39,840
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
September 17,
2021
102,090
Joint and several
liability guarantee


2032.11.15
No
Yes

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71 / 214
ZPC
December 9,
2025
6,260,000
September 22,
2021
16,434
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
June 13, 2022
7,968
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
July 11, 2022
169.32
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
August 2, 2022
109.56
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
August 4, 2022
189.24
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
August 9, 2022
59.76
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
August 10,
2022
7.47
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
September 5,
2022
256.47
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
October 10,
2022
204.18
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
November 1,
2022
219.12
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
December 16,
2022
34.86
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
December 27,
2022
3,984
Joint and several
liability guarantee


2032.11.15
No
Yes
ZPC
December 9,
2025
6,260,000
November 2,
2021
8.77
Joint and several
liability guarantee


2026.7.1
No
Yes
ZPC
December 9,
2025
6,260,000
November 18,
2021
0.4
Joint and several
liability guarantee


2026.7.1
No
Yes

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72 / 214
Total Guarantee Limit Approved
for Subsidiaries as at the End of
the Reporting Period (B3)
11,290,600
Total Outstanding Balance of
Guarantees Provided to
Subsidiaries as at the End of the
Reporting Period (B4)
5,140,521.29
Guarantees Provided by Subsidiaries to Their Subsidiaries
Name of
Guaranteed
Party
Disclosure Date
of the
Announcement
on the
Guarantee
Limit
Guarante
e Limit
Date of Actual
Occurrence
Actual
Guarante
e Amount
Type of
Guarantee
Collateral
, if any
Counter-
guarantee
Arrangement
s, if any
Guarantee
Term
Whether the
Guarantee
Has Been
Fulfilled
Whether the
Guarantee Is
Provided to a
Related Party
Yisheng
Dahua
December 9,
2025
89,000
May 22, 2026
1,230
Joint and several
liability guarantee


2026.8.22
No
Yes
Yisheng
Dahua
December 9,
2025
89,000
July 24, 2025
17,000
Joint and several
liability guarantee


2027.7.23
No
Yes
Yisheng
Dahua
December 9,
2025
89,000
July 24, 2025
1,000
Joint and several
liability guarantee


2026.12.21
No
Yes
Yisheng
Dahua
December 9,
2025
89,000
March 5, 2026
3,800.16
Joint and several
liability guarantee


2026.9.5
No
Yes
Yisheng
Dahua
December 9,
2025
89,000
March 11, 2026
3,994.65
Joint and several
liability guarantee


2026.9.11
No
Yes
Yisheng
Dahua
December 9,
2025
89,000
March 20, 2026
2,500
Joint and several
liability guarantee


2026.9.20
No
Yes
Yisheng
Dahua
December 9,
2025
89,000
April 16, 2026
4,000
Joint and several
liability guarantee


2026.10.16
No
Yes
Yisheng
Dahua
December 9,
2025
89,000
June 11, 2026
3,000
Joint and several
liability guarantee


2026.12.11
No
Yes
Yisheng
Dahua
December 9,
2025
89,000
January 21,
2026
965.25
Joint and several
liability guarantee


2026.7.22
No
Yes

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73 / 214
Total Guarantee Limit Approved
for Guarantees Provided by
Subsidiaries to Their Subsidiaries
as at the End of the Reporting
Period (C3)
89,000
Total Outstanding Balance of
Guarantees Provided by
Subsidiaries to Their
Subsidiaries as at the End of the
Reporting Period (C4)
37,490.06
Total Guarantees of the Company (i.e. the Aggregate of the Above Three Categories)
Total Guarantee Limit Approved
as at the End of the Reporting
Period (A3+B3+C3)
11,379,600
Total Outstanding Guarantee
Balance as at the End of the
Reporting Period (A4+B4+C4)
5,178,011.35
Percentage of the Total Outstanding Guarantee Balance (i.e.
A4+B4+C4) to the Company’s Net Assets
108.66%

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74 / 214
3. Entrusted Wealth Management
R Applicable □ Not applicable
Overview of Entrusted Wealth Management During the Reporting Period
Unit: RMB 10,000
Product Category
Risk Profile
Balance of Entrusted
Wealth Management
Products During the
Reporting Period
Amount Overdue and
Unrecovered
Bank wealth management
products
Low risk
0.00
0.00
Note: As of the end of the reporting period, all entrusted wealth management products had been redeemed.

Specific circumstances where the Company, as the sole principal, entrusts financial institutions to conduct asset
management, or invests in high-risk entrusted wealth management products with relatively low security and poor
liquidity
□ Applicable R Not applicable
4. Other major contracts
□ Applicable R Not applicable
No other major contracts of the Company during the reporting period.
XIII. Registration Form of Reception, Research, Communication and Interviews during the
Reporting Period
R Applicable □ Not applicable
Reception
Date
Reception
Venue
Reception
Method
Type of
Reception
Target
Reception
Target
Main Topics Discussed
and Materials Provided
Index to Basic
Information on the
Research
April 30,
2026
Panorama
Network’s
“Investor
Relations
Interactive
Platform”
Online
communication
via a network
platform
Individual
Investors
For details, please refer to:
http://www.cninfo.com.cn/new/disclosure/detail?plat
e=szse&orgId=9900015502&stockCode=002493&a
nnouncementId=1225272639&announcementTime=
2026-04-30%2017:44

XIV. Explanation of other major matters
□ Applicable R Not applicable
No other important events to be described during the reporting period.
XV. Major Events of Subsidiaries
□ Applicable RNot applicable

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75 / 214
Section VI Changes in Shares and Shareholders
I. Changes in shares
1. Changes in shares
Unit: shares

Before the change
Increase or decrease (+, -)
After this change
Number
Ratio
Issuance of
new shares
Bonus shares
Conversion of
capital reserves
into shares
Others
Subtotal
Number
Ratio
I. Restricted shares
651,375,000
6.52%



-24,131,250
-24,131,250
627,243,750
6.28%
1. State-owned shares









2. Shares held by state-
owned legal persons









3. Shares held by other
domestic capital
651,375,000
6.52%



-24,131,250
-24,131,250
627,243,750
6.28%
Including: Shares
held by domestic legal
persons









Shares held by
domestic natural persons
651,375,000
6.52%



-24,131,250
-24,131,250
627,243,750
6.28%
4. Shares held by
foreign investors









Including: Shares
held by foreign legal
persons









Shares held by
foreign natural persons









II. Shares not subject to
sales restrictions
9,338,067,254
93.48%



24,131,250
24,131,250
9,362,198,504
93.72%

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76 / 214
1. RMB ordinary shares
9,338,067,254
93.48%



24,131,250
24,131,250
9,362,198,504
93.72%
2. Domestically-listed
foreign shares









3. Overseas-listed
foreign shares









4. Others









III. Total shares
9,989,442,254
100.00%



0
0
9,989,442,254
100.00%
Causes for change in shares
R Applicable □ Not applicable
Following the abolition of the Board of Supervisors and pursuant to the Shenzhen Stock Exchange Guidelines for Self-Regulatory Supervision of Listed Companies
No. 18—Reduction of Shareholdings by Shareholders, Directors and Senior Management (2025 Revision), the number of restricted shares held by the departing
Supervisor was adjusted accordingly. Accordingly, senior-management lock-up shares decreased by 24,131,250 shares during the Reporting Period.
Approval of changes in shares
□ Applicable R Not applicable
Transfer of changes in shares
□ Applicable R Not applicable
Implementation progress of share repurchases
□ Applicable R Not applicable
Implementation progress of the disposal of repurchased shares through centralized competitive bidding
□ Applicable R Not applicable
Impact of changes in shares on financial indicators such as basic earnings per share and diluted earnings per share for the most recent year and the most recent period,
and net assets per share attributable to the Company’s ordinary shareholders
□ Applicable R Not applicable
Other information that the Company considers necessary or that the securities regulatory authorities require to be disclosed
□ Applicable R Not applicable


2. Changes in restricted shares

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77 / 214
R Applicable □ Not applicable
Unit: shares
Shareholder
Name
Number of
Restricted
Shares at the
Beginning of
the Period
Number of
Shares
Released from
Restriction
during the
Period
Increase in
Restricted
Shares during
the Period
Number of
Restricted
Shares at the
End of the
Period
Reason for Restriction
Date of Release from Restriction
Li Guoqing
96,525,000
24,131,250
0
72,393,750
During the term of office determined at the time of
appointment of a departing Supervisor and within
six months following the expiry of such term, the
number of Company shares transferred by the
departing Supervisor each year through centralized
competitive bidding, block trading, transfer by
agreement or other means shall not exceed 25% of
the total number of Company shares held by such
person.
May 20, 2026
Total
96,525,000
24,131,250
0
72,393,750
--
--

II. Securities issuance and listing
□ Applicable R Not applicable





III. Number of Shareholders and Shareholdings
Unit: shares

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78 / 214
Total number of
common
shareholders at the
end of the reporting
period
71,963
Total Number of Preferred Shareholders with Restored Voting Rights at the
End of the Reporting Period, if any (see Note 8)
0
Shareholdings of shareholders holding over 5% of shares or the top 10 shareholders (excluding shares lent through refinancing)
Name of
shareholders
Nature of
shareholders
Shareholding
ratio
Number of
shares held at
the end of the
report period
Increase or
decrease during
the reporting
period
Number of
shares held
with limited
sales
conditions
Number of non-
restricted
shares held
Pledge, marking or freezing
Share status
Number
Zhejiang Rongsheng
Holding Group Co.,
Ltd.
Domestic non-
state-owned legal
person
55.05%
5,499,301,781
0
0
5,499,301,781.00
Not applicable
0
Aramco
Overseas
Company B.V.
Overseas legal
person
10.14%
1,012,552,501
0
0
1,012,552,501
Not applicable
0
Li Shuirong
Domestic natural
person
6.44%
643,275,000
0
482,456,250
160,818,750
Not applicable
0
Hong Kong Securities
Clearing
Company
Limited
Overseas legal
person
2.21%
221,237,800
4,911,253
0
221,237,800
Not applicable
0
Li Guoqing
Domestic natural
person
0.97%
96,525,000
0
72,393,750
24,131,250
Not applicable
0
Xu Yuejuan
Domestic natural
person
0.97%
96,525,000
0
0
96,525,000
Not applicable
0
Li Yongqing
Domestic natural
person
0.97%
96,525,000
0
72,393,750
24,131,250
Not applicable
0
Horizon
Asset
-
Huaneng
Trust · Jiayue No. 7
Single Fund Trust -
Horizon Asset Huixin
No. 43 Single Asset
Management Plan
Other
0.55%
55,148,287
0
0
55,148,287
Not applicable
0

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Huaneng
Guicheng
Trust Co., Ltd. -
Huaneng
Trust
·
Rongyue
Weicheng collective
funds trust plan
Other
0.50%
50,078,500
0
0
50,078,500
Not applicable
0
China Life Insurance
Company Limited –
Traditional – General
Insurance Product –
005L – CT001 SH
Other
0.49%
48,592,950
37,479,400
0
48,592,950
Not applicable
0
The situation (if any) that strategic investors
or general legal persons become the top 10
shareholders due to the placement of new
shares (see Note 3)
Not applicable
Explanation of the relationship or concerted
action among the above shareholders
Among the top 10 shareholders, Zhejiang Rongsheng Holding Group Co., Ltd. is the controlling shareholder of the Company. Li Yongqing and
Li Guoqing are nephews of Li Shuirong, Chairman of Zhejiang Rongsheng Holding Group Co., Ltd., and Xu Yuejuan is the sister-in-law of Li
Shuirong. They therefore constitute related parties. Except for the foregoing relationships, the Company has no knowledge of whether any other
shareholders are related to one another or are persons acting in concert.
Explanation of the above shareholders on
delegating/receiving/waiving voting rights
Not applicable
Special explanation on the existence of
repurchase accounts among the top 10
shareholders (if any) (see Note 11)
Among the top 10 shareholders, the special securities account for share repurchases of Rongsheng Petrochemical Co., Ltd. held 417,150,112
shares, representing 4.18% of the Company’s total share capital.
Shareholding of top 10 shareholders not subject to sales restrictions (excluding shares lent through refinancing and executive lock-in shares)
Name of shareholders
Number of shares not subject to sales restrictions held
at the end of the reporting period
Class of shares
Class of shares
Number
Zhejiang Rongsheng Holding Group Co., Ltd.
5,499,301,781
RMB ordinary shares
5,499,301,781
Aramco Overseas Company B.V.
1,012,552,501
RMB ordinary shares
1,012,552,501
Hong Kong Securities Clearing Company Limited
221,237,800
RMB ordinary shares
221,237,800
Li Shuirong
160,818,750
RMB ordinary shares
160,818,750
Xu Yuejuan
96,525,000
RMB ordinary shares
96,525,000

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Horizon Asset - Huaneng Trust · Jiayue No. 7 Single Fund Trust
- Horizon Asset Huixin No. 43 Single Asset Management Plan
55,148,287
RMB ordinary shares
55,148,287
Huaneng Guicheng Trust Co., Ltd. - Huaneng Trust · Rongyue
Weicheng collective funds trust plan
50,078,500
RMB ordinary shares
50,078,500
China Life Insurance Company Limited – Traditional – General
Insurance Product – 005L – CT001 SH
48,592,950
RMB ordinary shares
48,592,950
Ni Xincai
47,925,000
RMB ordinary shares
47,925,000
Dai Deming
40,300,000
RMB ordinary shares
40,300,000
Explanation of the relationship or concerted action among the top
10 shareholders of outstanding shares not subject to sales
restrictions and among the top 10 shareholders of outstanding
shares not subject to sales restrictions and the top 10 shareholders
Among the top 10 shareholders, Zhejiang Rongsheng Holding Group Co., Ltd. is the controlling shareholder of the
Company. Xu Yuejuan is the sister-in-law of Li Shuirong, Chairman of Zhejiang Rongsheng Holding Group Co., Ltd., and
Ni Xincai is the brother-in-law of Li Shuirong. They therefore constitute related parties. Except for the foregoing
relationships, the Company has no knowledge of whether any other shareholders are related to one another or are persons
acting in concert.
Explanation of the top 10 shareholders' participation in securities
margin trading (if any) (see Note 4)
Zhejiang Rongsheng Holding Group Co., Ltd. holds 5,459,301,781 shares through an ordinary securities account and
40,000,000 shares through a margin account. Dai Deming holds 1,300,000 shares through an ordinary securities account
and 39,000,000 shares through a margin account.

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Participation of shareholders holding more than 5% shares, top 10 shareholders and top 10 shareholders of
outstanding shares not subject to sales restrictions in lending shares by refinancing business
□ Applicable R Not applicable
Changes in top 10 shareholders and top 10 shareholders of outstanding shares not subject to sales restrictions due
to lending/returning shares by refinancing business
□ Applicable R Not applicable
Whether any of the top 10 shareholders of ordinary share and the top 10 shareholders of ordinary share not subject
to sales restrictions of the Company have any agreed repurchase trading during the reporting period?
□ Yes R No
The top 10 shareholders of ordinary share and the top 10 shareholders of ordinary share not subject to sales
restrictions did not conduct the agreed repurchase transaction during the reporting period
IV. Changes in Shareholdings of Directors and Senior Management
□ Applicable R Not applicable
There were no changes in the shareholdings of the Company’s Directors or Senior Management during the
Reporting Period. For details, please refer to the 2025 Annual Report.
V. Changes in the Controlling Shareholder or Actual Controller
Where the Company has previously disclosed that its actual controller was planning a change in control that has not
yet been completed, the Company shall explain the progress of such change in control.
□ Applicable R Not applicable
Change in the controlling shareholder during the Reporting Period
□ Applicable R Not applicable
There was no change in the Company’s controlling shareholder during the Reporting Period.
Change in the actual controller during the Reporting Period
□ Applicable R Not applicable
There was no change in the Company’s actual controller during the Reporting Period.
VI. Preferred Shares
□ Applicable R Not applicable
The Company had no preferred shares during the Reporting Period.




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Section VII Bonds
□ Applicable R Not applicable



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Section VIII Financial Reports
I. Audit Report
Whether the semi-annual report has been audited
□ Yes R No
The Company’s semi-annual financial report has not been audited.
II. Financial Statements
The amounts in the financial statement notes are presented in RMB.
1. Consolidated Balance Sheet
Prepared by: Rongsheng Petrochemical Co., Ltd.
June 30, 2026
Unit: RMB
Item
Ending balance
Beginning balance
Current assets:


Cash and bank balances
23,734,636,453.49
13,499,669,478.84
Settlement reserve


Placements with banks and other financial institutions


Trading financial assets


Derivative financial assets
192,305,512.54
278,828,802.69
Notes receivable


Accounts receivable
2,260,963,661.76
3,169,305,362.31
Accounts receivable financing
214,924,599.25
83,421,123.96
Prepayments
3,305,102,984.78
2,140,598,833.96
Premium receivables


Reinsurance receivables


Reinsurance contract reserves receivables


Other receivables
4,369,761,244.01
4,925,104,317.10
Including: Interest receivables


Dividends receivable
900,000,000.00

Financial assets purchased under resale agreements


Inventories
32,009,662,550.09
33,576,127,180.92
Including: data resources


Contract assets


Held-for-sale assets


Non-current assets due within one year


Other current assets
8,493,494,401.73
7,280,589,936.07

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Total current assets
74,580,851,407.65
64,953,645,035.85
Non-current assets:


Loans and advances


Debt investments


Other debt investments


Long-term receivables


Long-term equity investment
9,446,006,115.38
9,764,207,212.23
Investment in other equity instruments


Other non-current financial assets


Investment property
9,716,959.60
9,852,682.60
Fixed assets
249,424,094,904.07
259,757,528,525.39
Construction in progress
54,979,464,670.50
37,854,167,659.20
Productive biological assets


Oil & gas assets


Right-of-use assets
60,122,571.18
27,062,072.00
Intangible assets
8,991,256,856.68
9,085,688,449.26
Including: data resources


Development expenses


Including: data resources


Goodwill


Long-term deferred expenses
966,422.60

Deferred income tax assets
1,599,264,279.84
1,702,308,467.27
Other non-current assets
3,730,795,532.12
3,478,664,190.30
Total non-current assets
328,241,688,311.97
321,679,479,258.25
Total assets
402,822,539,719.62
386,633,124,294.10
Current liabilities:


Short-term borrowings
53,190,105,943.25
50,196,656,887.59
Borrowings from the central bank


Placements from banks and other financial institutions


Trading financial liabilities


Derivative financial liabilities
242,510,513.90
254,957,356.99
Notes payable
1,633,752,998.56
1,823,730,094.93
Accounts payable
55,022,314,319.88
58,958,528,675.95
Advances received


Contract liabilities
2,755,473,814.03
4,083,450,306.60
Financial assets sold for repurchase


Deposits received and interbank deposits


Deposits for securities trading agency


Deposits for securities underwriting agency


Employee benefits payable
741,131,380.44
1,125,814,964.88
Taxes payable
1,002,658,024.79
2,645,167,588.84

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Other payables
11,733,185,071.34
8,699,387,532.24
Including: Interest payable


Dividends payable
754,030,000.00

Handling charges and commissions payable


Reinsurance payable


Held-for-sale liabilities


Non-current liabilities due within one year
37,100,487,475.75
35,466,338,269.58
Other current liabilities
3,326,536,702.13
1,867,329,013.92
Total current liabilities
166,748,156,244.07
165,121,360,691.52
Non-current liabilities:


Insurance contract reserves


Long-term borrowings
129,528,625,520.90
122,459,201,307.70
Bonds payable


Including: Preferred share


Perpetual bond


Lease liabilities
42,251,995.26

Long-term payables


Long-term employee benefits payable


Provisions
44,542,210.85
43,782,604.66
Deferred income
453,353,280.62
392,706,559.60
Deferred income tax liabilities
1,539,145,003.79
1,624,234,093.37
Other non-current liabilities


Total non-current liabilities
131,607,918,011.42
124,519,924,565.33
Total liabilities
298,356,074,255.49
289,641,285,256.85
Owners’ equity:


Share capital
9,989,442,254.00
9,989,442,254.00
Other equity instruments


Including: Preferred share


Perpetual bond


Capital reserve
8,958,250,210.36
8,958,186,957.39
Less: treasury stock
4,988,804,885.93
4,988,804,885.93
Other comprehensive income
-44,215,118.89
86,668,890.53
Special reserves
93,202,480.16
55,804,605.92
Surplus reserves
1,270,743,066.03
1,270,743,066.03
General risk reserve


Retained earnings
32,374,905,404.74
28,221,482,065.98
Total equity attributable to the parent company
47,653,523,410.47
43,593,522,953.92
Minority equity
56,812,942,053.66
53,398,316,083.33
Total equity
104,466,465,464.13
96,991,839,037.25

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Total liabilities and owners’ equity
402,822,539,719.62
386,633,124,294.10
2. Balance Sheet of the Parent Company
Unit: RMB
Item
Ending balance
Beginning balance
Current assets:


Cash and bank balances
2,222,050,224.76
354,353,684.29
Trading financial assets


Derivative financial assets


Notes receivable


Accounts receivable
3,430,155.65
2,437,530.86
Accounts receivable financing
30,099,108.99
17,919,013.37
Prepayments
83,107,244.82
60,256,292.32
Other receivables
5,214,966,090.11
2,897,360,297.44
Including: Interest receivables


Dividends receivable
2,432,100,000.00
550,000,000.00
Inventories
291,298,441.51
242,437,960.44
Including: data resources


Contract assets


Held-for-sale assets


Non-current assets due within one year


Other current assets
203,083.50
26,047,627.84
Total current assets
7,845,154,349.34
3,600,812,406.56
Non-current assets:


Debt investments


Other debt investments


Long-term receivables


Long-term equity investment
55,403,226,077.72
55,647,973,695.59
Investment in other equity instruments


Other non-current financial assets


Investment property
9,716,959.60
9,852,682.60
Fixed assets
317,497,765.49
318,871,916.84
Construction in progress
1,037,735.85

Productive biological assets


Oil & gas assets


Right-of-use assets


Intangible assets
10,890,967.97
11,853,718.31
Including: data resources


Development expenses


Including: data resources



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Goodwill


Long-term deferred expenses


Deferred income tax assets


Other non-current assets


Total non-current assets
55,742,369,506.63
55,988,552,013.34
Total assets
63,587,523,855.97
59,589,364,419.90
Current liabilities:


Short-term borrowings
6,304,838,612.34
6,285,794,109.03
Trading financial liabilities


Derivative financial liabilities


Notes payable

52,916,550.00
Accounts payable
5,395,932,531.22
4,861,762,156.96
Advances received


Contract liabilities
2,486,220,583.76
2,646,739,931.85
Employee benefits payable
36,249,464.99
80,917,996.59
Taxes payable
4,104,331.59
6,581,447.16
Other payables
12,293,796,522.26
10,133,729,308.36
Including: Interest payable


Dividends payable


Held-for-sale liabilities


Non-current liabilities due within one year
7,390,024,135.00
5,964,831,869.33
Other current liabilities
323,208,675.88
344,076,191.14
Total current liabilities
34,234,374,857.04
30,377,349,560.42
Non-current liabilities:


Long-term borrowings
11,736,899,454.44
11,919,757,273.07
Bonds payable


Including: Preferred share


Perpetual bond


Lease liabilities


Long-term payables


Long-term employee benefits payable


Provisions


Deferred income
5,797,478.48
6,301,607.06
Deferred income tax liabilities


Other non-current liabilities


Total non-current liabilities
11,742,696,932.92
11,926,058,880.13
Total liabilities
45,977,071,789.96
42,303,408,440.55
Owners’ equity:


Share capital
9,989,442,254.00
9,989,442,254.00
Other equity instruments



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Including: Preferred share


Perpetual bond


Capital reserve
9,381,253,530.14
9,381,253,530.14
Less: treasury shares
4,988,804,885.93
4,988,804,885.93
Other comprehensive income
121,769,757.80
104,810,451.40
Special reserves


Surplus reserves
1,270,743,066.03
1,270,743,066.03
Retained earnings
1,836,048,343.97
1,528,511,563.71
Total equity
17,610,452,066.01
17,285,955,979.35
Total liabilities and owners’ equity
63,587,523,855.97
59,589,364,419.90
3. Consolidated Income Statement
Unit: RMB
Item
First Half of 2026
First Half of 2025
I. Gross operating revenue
129,406,713,606.78
148,629,350,935.50
Including: operating revenue
129,406,713,606.78
148,629,350,935.50
Interest income


Earned premium


Handling charge and commission income


II. Gross operating costs
119,440,750,915.54
147,757,254,574.45
Including: operating costs
109,671,529,657.63
128,878,959,937.59
Interest expense


Handling charge and commission expenses


Surrender value


Net payments for insurance claims


Net provision for insurance contract liabilities


Policy dividend payment


Reinsurance costs


Taxes and surcharges
3,918,394,840.31
12,748,131,455.62
Selling expenses
86,672,912.63
84,293,344.16
Administrative expenses
489,898,914.69
466,821,877.01
R&D expenses
2,242,542,374.59
2,369,091,695.16
Financial expenses
3,031,712,215.69
3,209,956,264.91
Including: interest expenses
3,190,639,179.06
3,280,153,933.32
Interest income
135,999,098.06
222,591,881.35
Add: Other income
800,815,540.06
1,064,837,456.41
Investment income (losses expressed with "-")
362,514,525.42
284,046,651.75
Including: Return on investment in associates and
joint ventures
446,204,831.98
190,297,833.77

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Gains on derecognition of financial assets
measured at amortized cost


Exchange gains (losses expressed with “-”)


Net exposure hedging gains (losses expressed with “-”)


Gains on changes in fair value (losses expressed with "-")
-292,395,250.55
-299,721,409.22
Credit impairment loss (losses expressed with "-")
18,584,617.97
87,104,774.79
Asset impairment loss (losses marked with “-”)
-1,070,657.02
-152,150,594.56
Gains on disposal of assets (losses expressed with “-”)
7,357,324.96
-64,124.27
III. Operating profit (losses expressed with "-")
10,861,768,792.08
1,856,149,115.95
Add: Non-operating income
4,459,855.55
3,898,849.00
Less: Non-operating expenses
6,496,192.84
15,476,643.56
IV. Total profit (total losses expressed with "-")
10,859,732,454.79
1,844,571,321.39
Less: Income tax expenses
1,599,910,333.55
178,317,788.37
V. Net profit (net losses expressed with "-")
9,259,822,121.24
1,666,253,533.02
(I) By business continuity


1. Net profit from going concern (net losses expressed with
“-”)
9,259,822,121.24
1,666,253,533.02
2. Net profit from discontinued operations (net losses
expressed with “-”)


(II) By ownership


1. Net profit attributable to shareholders of the parent
company
5,110,652,552.96
602,084,104.39
2. Minority interest income
4,149,169,568.28
1,064,169,428.63
VI. Other comprehensive income, net of tax
-148,091,369.68
-67,422,232.10
Other comprehensive income attributable to owners of the
parent, net of tax
-130,884,009.42
-63,618,787.95
(I) Other comprehensive income which may not be
reclassified to profit or loss


1. Re-measurement of changes in defined benefit plans


2. Other comprehensive income which may not be
transferred to profit or loss under the equity method


3. Changes in fair value of investment in other equity
instruments


4. Changes in fair value attributable to changes in the
Company’s own credit risk


5. Others


(II) Other comprehensive income which may be reclassified
to profit or loss
-130,884,009.42
-63,618,787.95
1. Other comprehensive income which may be transferred
to profit or loss under the equity method
-2,818,582.89
-50,041,026.62
2. Changes in fair value of other debt investments



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3. Amount of financial assets reclassified into other
comprehensive income


4. Credit impairment allowance for other debt
investments


5. Cash flow hedging reserves


6. Difference in translation of foreign currency financial
statements
-128,065,426.53
-13,577,761.33
7. Others


Other comprehensive income attributable to minority
shareholders, net of tax
-17,207,360.26
-3,803,444.15
VII. Total comprehensive income
9,111,730,751.56
1,598,831,300.92
Total comprehensive income attributable to owners of the
parent company
4,979,768,543.54
538,465,316.44
Total comprehensive income attributable to minority
shareholders
4,131,962,208.02
1,060,365,984.48
VIII. Earnings per share


(I) Basic earnings per share
0.53
0.06
(II) Diluted earnings per share
0.53
0.06
4. Income Statement of the Parent Company
Unit: RMB
Item
First Half of 2026
First Half of 2025
I.Operating revenue
1,658,635,943.40
874,759,022.69
Less: Operating costs
1,416,499,121.05
783,915,236.41
Taxes and surcharges
4,015,977.87
3,803,080.38
Selling expenses
23,530,693.32
16,171,150.67
Administrative expenses
56,431,181.76
53,041,620.29
R&D expenses
89,909,438.96
51,520,823.00
Financial expenses
452,655,791.25
390,501,070.87
Including: interest expenses
437,529,655.83
389,284,382.25
Interest income
3,930,697.50
6,362,975.74
Add: Other income
2,027,136.04
347,023,654.77
Investment income (losses expressed with "-")
1,653,195,627.15
169,273,572.94
Including: Return on investment in associates and joint
ventures
244,047,586.37
155,613,807.08
Gains on derecognition of financial assets
measured at amortized cost (loss expressed with "-")


Net exposure hedging gains (losses expressed with “-”)


Gains on changes in fair value (losses expressed with "-")


Credit impairment loss (losses expressed with "-")
-984,220.51
-462,148.98
Asset impairment loss (losses marked with “-”)


Gains on disposal of assets (losses expressed with “-”)
5,881.82
0.18

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II. Operating profit (losses expressed with “-”)
1,269,838,163.69
91,641,119.98
Add: Non-operating income
13,610.45
2.15
Less: Non-operating expenses
5,085,779.68
5,757,786.29
III. Total profit (total losses expressed with “-”)
1,264,765,994.46
85,883,335.84
Less: Income tax expenses


IV. Net profit (net losses expressed with "-")
1,264,765,994.46
85,883,335.84
(1) Net profit from going concern (net losses expressed with
“-”)
1,264,765,994.46
85,883,335.84
(2) Net profit from discontinued operations (net losses
expressed with “-”)


V. Other comprehensive income, net of tax
16,959,306.40
-45,627,581.75
(I) Other comprehensive income which may not be
reclassified to profit or loss


1. Re-measurement of changes in defined benefit plans


2. Other comprehensive income which may not be
transferred to profit or loss under the equity method


3. Changes in fair value of investment in other equity
instruments


4. Changes in fair value attributable to changes in the
Company’s own credit risk


5. Others


(II) Other comprehensive income which may be reclassified
to profit or loss
16,959,306.40
-45,627,581.75
1. Other comprehensive income which may be transferred
to profit or loss under the equity method
16,959,306.40
-45,627,581.75
2. Changes in fair value of other debt investments


3. Amount of financial assets reclassified into other
comprehensive income


4. Credit impairment allowance for other debt
investments


5. Cash flow hedging reserves


6. Difference in translation of foreign currency financial
statements


7. Others


VI. Total comprehensive income
1,281,725,300.86
40,255,754.09
VII. Earnings per share


(I) Basic earnings per share


(II) Diluted earnings per share


5. Consolidated Cash Flow Statement
Unit: RMB

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Item
First Half of 2026
First Half of 2025
I. Cash flow from operating activities:


Cash received from sales of goods or rendering of services
144,616,318,030.36
166,127,081,795.62
Net increase in deposits from customers and other banks


Net increase in borrowings from the central bank


Net increase in loans from other financial institutions


Cash received from receiving insurance premium of original
insurance contracts


Net cash received from reinsurance business


Net increase in deposits and investment of the insured


Cash received from interests, handling charges and
commissions


Net increase in borrowing funds


Net increase in repurchase business capital


Net cash received from securities trading agency


Refunds of taxes and levies
4,024,659,987.74
2,764,625,616.17
Cash received relating to other operating activities
3,221,369,865.89
2,915,095,527.88
Subtotal of cash inflow from operating activities
151,862,347,883.99
171,806,802,939.67
Cash paid for goods purchased and services received
119,672,137,045.21
145,101,204,904.23
Net increase in loans and advances to customers


Net increase in deposits with the central bank and other banks


Cash paid for claims under original insurance contracts


Net increase in lending funds


Cash paid for interests, handling charges and commissions


Cash paid for policy dividends


Cash paid to and on behalf of employees
2,039,891,290.45
2,179,536,574.50
Cash paid for taxes and levies
6,169,842,548.94
15,388,171,037.48
Cash paid relating to other operating activities
2,726,399,445.75
1,551,265,169.78
Subtotal of cash outflow from operating activities
130,608,270,330.35
164,220,177,685.99
Net cash flow from operating activities
21,254,077,553.64
7,586,625,253.68
II. Cash flows from investing activities:


Cash received from investment recovery
1,423,699,610.58
1,659,568,485.19
Cash received from the return on investment
43,797,524.36
48,654,510.65
Net cash received from the disposal of fixed assets, intangible
assets and other long-term assets
11,224,432.76
3,651,539.93
Net cash received from the disposal of subsidiaries and other
business units


Cash received relating to other investing activities
35,418,235.70
33,463,822.77
Subtotal of cash inflow from investing activities
1,514,139,803.40
1,745,338,358.54

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Cash paid for purchase and construction of fixed assets,
intangible assets and other long-term assets
20,334,113,669.43
15,577,226,702.86
Cash paid for investments
1,531,280,311.91
2,191,197,289.79
Net increase in pledge loans


Net cash paid for acquisition of subsidiaries and other business
units


Cash paid relating to other investing activities
14,590,050.00
37,285,472.76
Subtotal of cash outflow from investing activities
21,879,984,031.34
17,805,709,465.41
Net cash flow from investing activities
-20,365,844,227.94
-16,060,371,106.87
III. Cash flow from financing activities:


Cash received from capital contributions


Including: Cash received by subsidiaries from capital
contributions by non-controlling shareholders


Cash received from borrowings
81,828,730,827.33
64,601,920,548.88
Cash received relating to other financing activities
5,811,413,542.99
12,429,276,412.04
Subtotal of cash inflow from financing activities
87,640,144,370.32
77,031,196,960.92
Cash paid for repayment of debts
70,620,316,255.36
61,676,972,719.77
Cash paid for distribution of dividends and profit or payment
of interests
4,495,002,408.59
4,716,590,091.88
Including: Dividends or profit paid by subsidiaries to minority
shareholders


Cash paid relating to other financing activities
3,209,961,145.34
1,092,449,633.16
Subtotal of cash outflow from financing activities
78,325,279,809.29
67,486,012,444.81
Net cash flow from financing activities
9,314,864,561.03
9,545,184,516.11
IV. Effect of change in exchange rate on cash and cash
equivalents
94,139,378.50
6,697,093.82
V. Net increase in cash and cash equivalents
10,297,237,265.23
1,078,135,756.74
Add: Opening balance of cash and cash equivalents
12,868,997,873.44
12,943,832,335.45
VI. Ending balance of cash and cash equivalents
23,166,235,138.67
14,021,968,092.19
6. Cash Flow Statement of the Parent Company
Unit: RMB
Item
First Half of 2026
First Half of 2025
I. Cash flow from operating activities:


Cash received from sales of goods or rendering of services
4,811,930,464.98
8,368,331,142.55
Refunds of taxes and levies
3,365,262.59
1,975,629.38
Cash received relating to other operating activities
2,529,156,303.00
670,727,289.01
Subtotal of cash inflow from operating activities
7,344,452,030.57
9,041,034,060.94
Cash paid for goods purchased and services received
4,153,231,997.03
6,715,246,018.52

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Cash paid to and on behalf of employees
188,592,917.78
130,826,793.13
Cash paid for taxes and levies
5,818,871.99
88,121,460.17
Cash paid relating to other operating activities
2,586,963,039.15
84,132,591.60
Subtotal of cash outflow from operating activities
6,934,606,825.95
7,018,326,863.42
Net cash flow from operating activities
409,845,204.62
2,022,707,197.52
II. Cash flows from investing activities:


Cash received from investment recovery


Cash received from the return on investment
43,654,510.65
43,654,510.65
Net cash received from the disposal of fixed assets, intangible
assets and other long-term assets
28,070.80
3,620,231.11
Net cash received from the disposal of subsidiaries and other
business units


Cash received relating to other investing activities
700,000,000.00
463,029,809.36
Subtotal of cash inflow from investing activities
743,682,581.45
510,304,551.12
Cash paid for purchase and construction of fixed assets,
intangible assets and other long-term assets
8,091,781.84
74,273,902.46
Cash paid for investments
20,000,000.00
1,559,000,000.00
Net cash paid for acquisition of subsidiaries and other business
units


Cash paid relating to other investing activities
1,114,950,000.00
1,860,300,000.00
Subtotal of cash outflow from investing activities
1,143,041,781.84
3,493,573,902.46
Net cash flow from investing activities
-399,359,200.39
-2,983,269,351.34
III. Cash flow from financing activities:


Cash received from capital contributions


Cash received from borrowings
10,323,500,000.00
9,959,500,000.00
Cash received relating to other financing activities
6,073,040,000.00
4,500,000,000.00
Subtotal of cash inflow from financing activities
16,396,540,000.00
14,459,500,000.00
Cash paid for repayment of debts
9,152,600,000.00
8,903,650,000.00
Cash paid for distribution of dividends and profit or payment
of interests
1,301,543,586.40
1,222,453,084.65
Cash paid relating to other financing activities
4,084,411,168.57
2,368,601,946.63
Subtotal of cash outflow from financing activities
14,538,554,754.97
12,494,705,031.28
Net cash flow from financing activities
1,857,985,245.03
1,964,794,968.72
IV. Effect of change in exchange rate on cash and cash
equivalents
-759,708.79
-2,373,115.00
V. Net increase in cash and cash equivalents
1,867,711,540.47
1,001,859,699.90
Add: Opening balance of cash and cash equivalents
354,338,684.29
682,038,492.96
VI. Ending balance of cash and cash equivalents
2,222,050,224.76
1,683,898,192.86

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7. Consolidated Statement of Changes in Owners’ Equity
Current period
Unit: RMB
Item
First Half of 2026
Owners’ equity attributable to the parent company
Minorit
y equity
Total
equity
Share
capital
Other equity
instruments
Capital
reserve
Less:
treasur
y stock
Other
compre
hensive
income
Special
reserves
Surpl
us
reserv
es
General
risk
reserve
Retaine
d
earning
s
Other
Subtota
l
Prefer
red
shares
Perpe
tual
bond
Oth
er
I. Ending balance of
the previous year
9,989,442,
254.00



8,958,186,
957.39
4,988,80
4,885.93
86,668,8
90.53
55,804,6
05.92
1,270,
743,0
66.03

28,221,4
82,065.9
8

43,593,5
22,953.9
2
53,398,3
16,083.3
3
96,991,8
39,037.2
5
Add: Changes
in accounting
policies















Correctio
n of errors in the
previous period















Other















II. Opening balance
of the year
9,989,442,
254.00



8,958,186,
957.39
4,988,80
4,885.93
86,668,8
90.53
55,804,6
05.92
1,270,
743,0
66.03

28,221,4
82,065.9
8

43,593,5
22,953.9
2
53,398,3
16,083.3
3
96,991,8
39,037.2
5
III.
Increases/decreases
in the current period
(decrease expressed
with "-")




63,252.97

-
130,884,
009.42
37,397,8
74.24


4,153,42
3,338.76

4,060,00
0,456.55
3,414,62
5,970.33
7,474,62
6,426.88
(I) Total
comprehensive
income






-
130,884,
009.42



5,110,65
2,552.96

4,979,76
8,543.54
4,131,96
2,208.02
9,111,73
0,751.56
(II) Capital
contributed and
reduced by owners
















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1. Ordinary shares
contributed by
owners















2. Capital
contributed by
holders of other
equity instruments















3. Amount of share-
based payment
recognized in
owners’ equity















4. Others















(III) Profit
distribution










-
957,229,
214.20

-
957,229,
214.20
-
754,030,
000.00
-
1,711,25
9,214.20
1. Withdrawal of
surplus reserve















2. Withdrawal of
General risk reserve















3. Distribution to
owners (or
shareholders)










-
957,229,
214.20

-
957,229,
214.20
-
754,030,
000.00
-
1,711,25
9,214.20
4. Others















(IV) Internal carry-
forward of owners’
equity















1. Capital reserve
transferred into
capital (or share
capital)















2. Surplus reserve
transferred into
capital (or share
capital)
















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3. Surplus reserves
for making up loss















4. Changes in
defined benefit
plans carried
forward to retained
earnings















5. Other
comprehensive
income carried
forward to retained
earnings















6. Others















(V) Special reserve







37,397,8
74.24




37,397,8
74.24
36,632,9
89.84
74,030,8
64.08
1. Amount
appropriated in the
current period







182,969,
740.61




182,969,
740.61
150,079,
078.54
333,048,
819.15
2. Use in the current
period







145,571,
866.37




145,571,
866.37
113,446,
088.70
259,017,
955.07
(VI) Others




63,252.97







63,252.9
7
60,772.4
7
124,025.
44
IV. Ending balance
of the current period
9,989,442,
254.00



8,958,250,
210.36
4,988,80
4,885.93
-
44,215,1
18.89
93,202,4
80.16
1,270,
743,0
66.03

32,374,9
05,404.7
4

47,653,5
23,410.4
7
56,812,9
42,053.6
6
104,466,
465,464.
13
Prior-year Corresponding Period
Unit: RMB
Item
First Half of 2025
Owners’ equity attributable to the parent company
Minority
equity
Total
equity
Share
capital
Other equity
instruments
Capital
reserve
Less:
treasury
stock
Other
compreh
ensive
income
Special
reserves
Surplus
reserves
Gen
eral
risk
rese
rve
Retained
earnings
Ot
her
Subtotal
Prefe
rred
share
s
Perpe
tual
bond
Ot
her

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I. Ending
balance of
the
previous
year
10,125,525
,000.00



10,819,566
,635.04
6,987,008
,823.24
280,892,
216.98
19,057,1
87.43
1,270,743
,066.03

28,330,397
,005.41

43,859,172
,287.65
50,964,958
,012.02
94,824,130
,299.67
Add:
Changes in
accounting
policies















Correction
of errors in
the
previous
period















Other















II. Opening
balance of
the year
10,125,525
,000.00



10,819,566
,635.04
6,987,008
,823.24
280,892,
216.98
19,057,1
87.43
1,270,743
,066.03

28,330,397
,005.41

43,859,172
,287.65
50,964,958
,012.02
94,824,130
,299.67
III.
Increases/d
ecreases in
the current
period
(decrease
expressed
with "-")




638,613.98

-
63,618,7
87.95
33,130,3
63.30


-
355,145,10
9.81

-
384,994,92
0.48
1,093,432,
858.20
708,437,93
7.72
(I) Total
comprehen
sive
income






-
63,618,7
87.95



602,084,10
4.39

538,465,31
6.44
1,060,365,
984.48
1,598,831,
300.92
(II) Capital
contributed
and
reduced by
owners















1. Ordinary
shares
contributed
by owners
















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2. Capital
contributed
by holders
of other
equity
instruments















3. Amount
of share-
based
payment
recognized
in owners’
equity















4. Others















(III) Profit
distribution










-
957,229,21
4.20

-
957,229,21
4.20

-
957,229,21
4.20
1.
Withdrawal
of surplus
reserve















2.
Withdrawal
of General
risk reserve















3.
Distributio
n to owners
(or
shareholder
s)










-
957,229,21
4.20

-
957,229,21
4.20

-
957,229,21
4.20
4. Others















(IV)
Internal
carry-
forward of
owners’
equity
















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1. Capital
reserve
transferred
into capital
(or share
capital)















2. Surplus
reserve
transferred
into capital
(or share
capital)















3. Surplus
reserves for
making up
loss















4. Changes
in defined
benefit
plans
carried
forward to
retained
earnings















5. Other
comprehen
sive
income
carried
forward to
retained
earnings















6. Others















(V) Special
reserve







33,130,3
63.30




33,130,363
.30
32,453,303
.43
65,583,666
.73
1. Amount
appropriate
d in the
current
period







203,467,
546.03




203,467,54
6.03
167,868,94
4.57
371,336,49
0.60

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2. Use in
the current
period







170,337,
182.73




170,337,18
2.73
135,415,64
1.14
305,752,82
3.87
(VI) Others




638,613.98







638,613.98
613,570.29
1,252,184.
27
IV. Ending
balance of
the current
period
10,125,525
,000.00



10,820,205
,249.02
6,987,008
,823.24
217,273,
429.03
52,187,5
50.73
1,270,743
,066.03

27,975,251
,895.60

43,474,177
,367.17
52,058,390
,870.22
95,532,568
,237.39
8. Statement of Changes in Owners’ Equity of the Parent Company
Current amount
Unit: RMB
Item
First Half of 2026
Share capital
Other equity instruments
Capital
reserve
Less:
treasury
stock
Other
comprehens
ive income
Specia
l
reserv
es
Surplus
reserves
Retained
earnings
Other
Total equity
Preferr
ed
shares
Perpetu
al bond
Othe
r
I. Ending
balance of the
previous year
9,989,442,254.
00



9,381,253,530.
14
4,988,804,885
.93
104,810,451.
40

1,270,743,066
.03
1,528,511,5
63.71

17,285,955,97
9.35
Add: Changes
in accounting
policies












Correction of
errors in the
previous period












Other












II. Opening
balance of the
year
9,989,442,254.
00



9,381,253,530.
14
4,988,804,885
.93
104,810,451.
40

1,270,743,066
.03
1,528,511,5
63.71

17,285,955,97
9.35
III.
Increases/decre
ases in the
current period







16,959,306.4
0


307,536,780
.26

324,496,086.6
6

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(decrease
expressed with
"-")
(I) Total
comprehensive
income







16,959,306.4
0


1,264,765,9
94.46

1,281,725,300.
86
(II) Capital
contributed and
reduced by
owners












1. Ordinary
shares
contributed by
owners












2. Capital
contributed by
holders of other
equity
instruments












3. Amount of
share-based
payment
recognized in
owners’ equity












4. Others












(III) Profit
distribution









-
957,229,214
.20

-
957,229,214.2
0
1. Withdrawal
of surplus
reserve












2. Distribution
to owners (or
shareholders)









-
957,229,214
.20

-
957,229,214.2
0
3. Others












(IV) Internal
carry-forward













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of owners’
equity
1. Capital
reserve
transferred into
capital (or share
capital)












2. Surplus
reserve
transferred into
capital (or share
capital)












3. Surplus
reserves for
making up loss












4. Changes in
defined benefit
plans carried
forward to
retained
earnings












5. Other
comprehensive
income carried
forward to
retained
earnings












6. Others












(V) Special
reserve












1. Amount
appropriated in
the current
period












2. Use in the
current period












(VI) Others













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IV. Ending
balance of the
current period
9,989,442,254.
00



9,381,253,530.
14
4,988,804,885
.93
121,769,757.
80

1,270,743,066
.03
1,836,048,3
43.97

17,610,452,06
6.01
Amount of prior period
Unit: RMB
Item
First Half of 2025
Share capital
Other equity instruments
Capital
reserve
Less:
treasury
stock
Other
comprehens
ive income
Specia
l
reserv
es
Surplus
reserves
Retained
earnings
Oth
er
Total equity
Preferr
ed
shares
Perpet
ual
bond
Other
I. Ending
balance of the
previous year
10,125,525,00
0.00



11,243,374,721
.45
6,987,008,823.
24
217,617,723
.95

1,270,743,06
6.03
2,785,571,654.
14

18,655,823,342
.33
Add: Changes in
accounting
policies












Correction of
errors in the
previous period












Other












II. Opening
balance of the
year
10,125,525,00
0.00



11,243,374,721
.45
6,987,008,823.
24
217,617,723
.95

1,270,743,06
6.03
2,785,571,654.
14

18,655,823,342
.33
III.
Increases/decrea
ses in the
current period
(decrease
expressed with
"-")






-
45,627,581.
75


-
871,345,878.3
6

-
916,973,460.11
(I) Total
comprehensive
income






-
45,627,581.
75


85,883,335.84

40,255,754.09
(II) Capital
contributed and
reduced by
owners













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1. Ordinary
shares
contributed by
owners












2. Capital
contributed by
holders of other
equity
instruments












3. Amount of
share-based
payment
recognized in
owners’ equity












4. Others












(III) Profit
distribution









-
957,229,214.2
0

-
957,229,214.20
1. Withdrawal
of surplus
reserve












2. Distribution
to owners (or
shareholders)









-
957,229,214.2
0

-
957,229,214.20
3. Others












(IV) Internal
carry-forward of
owners’ equity












1. Capital
reserve
transferred into
capital (or share
capital)












2. Surplus
reserve
transferred into
capital (or share
capital)













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3. Surplus
reserves for
making up loss












4. Changes in
defined benefit
plans carried
forward to
retained
earnings












5. Other
comprehensive
income carried
forward to
retained
earnings












6. Others












(V) Special
reserve












1. Amount
appropriated in
the current
period












2. Use in the
current period












(VI) Others












IV. Ending
balance of the
current period
10,125,525,00
0.00



11,243,374,721
.45
6,987,008,823.
24
171,990,142
.20

1,270,743,06
6.03
1,914,225,775.
78

17,738,849,882
.22


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III. Company Profile
Rongsheng Petrochemical Co., Ltd. (hereinafter referred to as the Company) is a joint-stock limited company
initiated and established on the foundation of Rongsheng Chemical Fiber Group Co., Ltd. by Zhejiang Rongsheng
Holding Group Co., Ltd., as well as natural persons including Li Shuirong, Li Yongqing, Li Guoqing, Xu Yuejuan,
Ni Xincai and Zhao Guanlong. The Company was registered on June 18, 2007 and is headquartered in Hangzhou,
Zhejiang Province. The Company now holds the Business License (Unified Social Credit Code:
91330000255693873W) issued by Zhejiang Administration for Market Regulation, with a registered capital of
RMB 9,989,442,254.00 and a total of 9,989,442,254 shares (par value: RMB 1 per share), including outstanding
shares subject to sales restrictions: 627,243,750 A shares, and outstanding shares not subject to sales restrictions:
9,362,198,504 A shares. Shares of the Company were listed for trading at Shenzhen Stock Exchange on November
2, 2010.
The Company operates in the petroleum and chemical fiber industry and is principally engaged in the
production and sale of refined oil products, chemicals, PTA, polyester chips, polyester filaments and films.
These financial statements were approved for issuance at the eighth meeting of the seventh session of the Board
of Directors of the Company on August 24, 2026.
IV. Preparation Basis of Financial Statements
1. Preparation basis
The financial statements of the Company are prepared on a going concern basis.
2. Going concern
There are no matters or circumstances that cause the Company to have serious doubts about its going concern
ability within 12 months from the end of the reporting period.
V. Significant Accounting Policies and Accounting Estimates
Important note: According to the actual production and operation characteristics, the Company has formulated
specific accounting policies and accounting estimates for transactions or events such as impairment of financial
instruments, inventory, construction in progress, depreciation of fixed assets, intangible assets and revenue
recognition.
1. Statement of compliance with the Accounting Standards for Business Enterprises
The financial statements prepared by the Company comply with the requirements of the Accounting Standards
for Business Enterprises, which truthfully and completely reflect the Company's financial position, operating results,
cash flow and other relevant information.
2. Accounting period
The accounting year is the calendar year from January 1 to December 31.
3. Operating cycle

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The business cycle of the Company is short, and 12 months is taken as the liquidity division standard of assets
and liabilities.
4. Functional currency
The Company and its domestic subsidiaries adopt RMB as the functional currency, while overseas subsidiaries
such as Hong Kong Shenghui Co., Ltd., Hong Kong Yisheng Dahua Petrochemical Co., Ltd., Yisheng New
Materials Trading Co., Ltd., Rongsheng Petrochemical (Hong Kong) Co., Ltd., Rongsheng Petrochemical
(Singapore) Private Co., Ltd., Rongtong Logistics (Singapore) Private Co., Ltd., and Zhejiang Petroleum &
Chemical (Singapore) Private Co., Ltd. engaging in overseas operations, choose the currency in the main economic
environment where they operate as the functional currency.
5. Determination method and selection basis of materiality
RApplicable □ Not applicable
Item
Materiality
Important Prepayments with the aging more than 1 year
Single amount exceeding 0.5% of total assets
Important dividends receivable aged over 1 year
Single amount exceeding 0.5% of total assets
Important construction in progress
Single amount exceeding 0.5% of total assets
Important accounts payable with the aging more than 1 year
Single amount exceeding 0.5% of total assets
Important other payable with the aging more than 1 year
Single amount exceeding 0.5% of total assets
Important Contract liabilities with the aging more than 1 year
Single amount exceeding 0.5% of total assets
Important overseas operating entity
15% of total revenue
Important cash flows from investing activities
Single amount exceeding 0.5% of total assets
Important non-wholly owned subsidiary
The individual asset total exceeds 3% of the Group's total assets
Important associates
The book value of individual investment exceeds 0.5% of the
Group's total assets
Important contingencies
The contingent matters of individual amount exceeding 3% of
total assets or other matters significantly influencing investor
decisions
Important post-balance sheet events
Post-balance-sheet-date profit distribution and other matters
significantly influencing investor decisions
6. Accounting treatment methods for business combinations under and not under common control
1. Accounting treatment method for business combinations under common control
Assets and liabilities acquired by the Company in a business combination are measured at their carrying
amounts in the consolidated financial statements of the ultimate controlling party at the combination date. The
difference between the Company's share of the carrying amount of the combined party's owners’ equity in the
consolidated financial statements of the ultimate controlling party and the carrying amount of the consideration paid
for the combination (or the total par value of the shares issued) is adjusted against the capital reserve. If the capital
reserve is insufficient to absorb the difference, any excess is adjusted against retained earnings.
2. Accounting treatment method for business combinations not under common control
At the acquisition date, the Company recognizes the excess of the combination cost over its share of the fair
value of the identifiable net assets of the acquiree acquired in the combination as goodwill. If the combination cost
is less than the Company's share of the fair value of the identifiable net assets of the acquiree acquired in the
combination, the Company first reassesses the measurement of the fair values of the acquiree's identifiable assets,

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liabilities, and contingent liabilities acquired, as well as the combination cost. If, after the reassessment, the
combination cost remains less than the Company's share of the fair value of the identifiable net assets of the acquiree
acquired in the combination, the difference is recognized in profit or loss for the current period.
7. Judgement standard of control and preparation method of consolidated financial statements
1. Judgement of control
Control means the Company has the power over the investee, enjoys variable returns by participating in the
relevant activities of the investee, and has the ability to use the power to influence the variable amount of returns.
2. Preparation method for consolidated financial statements
The parent company brings all subsidiaries under its control into the consolidation scope of the consolidated
financial statements. The consolidated financial statements are based on the financial statements of the parent
company and its subsidiaries and are prepared according to other related documents by the parent company in
accordance with the Accounting Standards for Business Enterprises No. 33—Consolidated Financial Statements.
8. Classification of joint arrangement and accounting methods for joint operation
1. The joint arrangement is comprised of joint operation and joint venture.
2. When the Company is a party to a joint operation, the following items are recognized in relation to the share
of interest in the joint operation:
(1) Recognition of assets held individually and assets held jointly on a holding share basis;
(2) Recognition of liabilities assumed individually and liabilities assumed jointly on a holding share basis;
(3) Recognition of revenue from the sale of the Company's share of the output of the joint operation;
(4) Recognition of income from joint operations arising from the sale of assets based on the Company's share
of ownership;
(5) Recognition of expenses incurred separately and recognition of expenses incurred in joint operations based
on the Company's share of ownership.
9. Recognition standard for cash and cash equivalents
Cash listed in the statement of cash flows refers to cash on hand and deposits that can be used for payment at
any time. The term "cash equivalents" refers to short-term and highly liquid investments that are readily convertible
to known amounts of cash and which are subject to an insignificant risk of change in value.
10. Foreign currency business and conversion of foreign currency statements
1. Translation of Foreign Currency Transactions
Foreign currency transactions are initially translated into RMB at the spot exchange rate prevailing on the
transaction date. At the balance sheet date, monetary items denominated in foreign currencies are translated at the
spot exchange rate prevailing on that date. The resulting exchange differences, except for those arising from the
principal and interest of specific foreign currency borrowings used for the acquisition or construction of qualifying
assets, are recognized in profit or loss for the current period.
Non-monetary items denominated in foreign currencies and measured at historical cost continue to be
translated at the spot exchange rate prevailing on the transaction date, with their RMB amounts remaining
unchanged. Non-monetary items denominated in foreign currencies and measured at fair value are translated at the

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spot exchange rate prevailing on the date when the fair value is determined, and the resulting differences are
recognized in profit or loss for the current period or in other comprehensive income.
2. Translation of Foreign Currency Financial Statements
Assets and liabilities in the balance sheet are translated at the spot exchange rate prevailing at the balance sheet
date. Items of owners’ equity, except for “retained earnings”, are translated at the spot exchange rates prevailing on
the dates when the transactions occurred. Income and expense items in the income statement are translated at
exchange rates that approximate the spot exchange rates prevailing on the transaction dates. Translation differences
arising from the above translation of foreign currency financial statements are recognized in other comprehensive
income.
11. Financial instruments
1. Classification of financial assets and financial liabilities
At initial recognition, financial assets are classified into the following three categories: (1) financial assets at
amortized cost; (2) financial assets at fair value through other comprehensive income; and (3) financial assets at fair
value through profit or loss.
At initial recognition, financial liabilities are classified into four categories: (1) financial liabilities at fair value
through profit or loss; (2) financial liabilities arising from transfers of financial assets that do not qualify for
derecognition or from continuing involvement in transferred financial assets; (3) financial guarantee contracts not
falling under the above (1) or (2), and loan commitments not falling under the above (1) and lending at a rate lower
than the market interest rate; (4) financial liabilities at amortized cost.
2. Recognition basis, measurement methods and derecognition conditions for financial assets and financial
liabilities
(1) Recognition basis and initial measurement methods for financial assets and financial liabilities
A financial asset or a financial liability shall be recognized when the Company becomes a party to a financial
instrument contract. A financial asset or financial liability shall be measured at fair value at the initial recognition.
For financial assets or financial liabilities at fair value through profit or loss, the transaction costs thereof shall be
directly recorded in current profit or loss. For other categories of financial assets or financial liabilities, the related
transaction costs are included in the initial recognition amount. However, if the accounts receivable initially
recognized by the Company do not contain significant financing components or the Company does not consider the
financing components in contracts less than one year, the initial recognition shall be carried out according to
transaction price as defined in the Accounting Standards for Business Enterprises No. 14—Revenue.
(2) Subsequent measurement method for financial assets
1) Financial assets measured at amortized cost
They are subsequently measured at amortized cost by adopting the effective interest method. Gains or losses
arising from financial assets measured at amortized cost and not part of any hedging relationship are included in
current profit or loss upon derecognition, reclassification, amortization under the effective interest method or
recognition of impairment.
2) Debt instrument investments at fair value through other comprehensive income
They are subsequently measured at fair value. Interest, impairment losses or gains and exchange gains and
losses calculated by the effective interest method are included in current profit or loss, and other gains or losses are
included in other comprehensive income. Upon derecognition, the accumulated gain or loss previously included in
other comprehensive income is transferred from other comprehensive income and included in the current profit or
loss.
3) Equity instrument investments at fair value through other comprehensive income

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They are subsequently measured at fair value. Dividends obtained (except those falling under the recovery of
investment costs) are included in current profit or loss, and other gains or losses are included in other comprehensive
income. Upon derecognition, the accumulated gain or loss previously included in other comprehensive income is
reclassified from other comprehensive income to retained earnings.
4) Financial assets at fair value through profit or loss
They are subsequently measured at fair value, and the resulting gains or losses (including interest and dividend
income) are included in current profit or loss, unless the financial asset is part of the hedging relationship.
(3) Subsequent measurement method for financial liabilities
1) Financial liabilities at fair value through profit or loss
Such financial liabilities comprise trading financial liabilities (including derivative financial liabilities) and
those specified as financial liabilities at fair value through profit or loss. Such financial liabilities are subsequently
measured at fair value. Change in fair value of financial liability designated to be measured at fair value through
profit or loss due to change in the Company's own credit risk is included in other comprehensive income, unless the
treatment will cause or expand the accounting mismatch in profit or loss. Other gains or losses arising from such
financial liabilities (including interest expenses, except changes in fair value caused by changes in the own credit
risk) are included in current profit or loss, unless the financial liabilities are part of the hedging relationship. Upon
derecognition, the accumulated gain or loss previously included in other comprehensive income is reclassified from
other comprehensive income to retained earnings.
2) Financial liabilities that are formed since the transfer of financial asset does not comply with the conditions
for derecognition or continue to involve in the financial assets to be transferred
They are measured pursuant to relevant provisions under Accounting Standards for Business Enterprises No.
23—Transfer of Financial Assets.
3) Financial guarantee contracts not falling under the above 1) or 2), and loan commitments not falling under
the above 1) and to lend at a rate lower than the market interest rate
A subsequent measurement shall be made after they are initially recognized according to the higher one of the
following: ① the amount of loss allowance determined in accordance with the impairment provisions of financial
instruments; ② the remaining amount after the determined accumulative amortization amount is deducted from the
initially recognized amount in accordance with relevant provisions of the Accounting Standards for Business
Enterprises No.14—Revenue.
4) Financial liabilities at amortized cost
They are measured at amortized cost under the effective interest method. Gains or losses arising from financial
liabilities measured at amortized cost and not part of any hedging relationship are included in current profit or loss
when derecognized and amortized under the effective interest method.
(4) Derecognition of financial assets and financial liabilities
1) The Company will derecognize the financial assets when one of the following conditions are met:
① The contractual rights to the cash flows from the financial asset expire;
② The transfer of such financial assets has been completed and is in line with the provisions on derecognition
of a financial asset under the Accounting Standards for Business Enterprises No. 23—Transfer of Financial Assets.
2) When the current obligations of financial liabilities (or part thereof) have been discharged, the recognition
of the financial liabilities (or part thereof) shall be terminated accordingly.
3. Recognition basis and measurement method for transfer of financial assets
Where the Company transfers almost all risks and returns related to the ownership of the financial assets
transferred, these financial assets will be derecognized, and the rights and obligations that occurred or were retained

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during the transfer are separately recognized as assets or liabilities. Where almost all risks and rewards on the
ownership of financial assets are retained, the transferred financial assets shall continue to be recognized. Where
the Company has neither transferred nor retained substantially all the risks and rewards relating to the ownership of
the financial assets, it shall be disposed of in the following conditions: (1) where the control over the financial asset
is not retained, the recognition of the financial asset shall be terminated, and the rights and obligations arising or
retained in the transfer shall be separately recognized as assets or liabilities; 2) where the control over the financial
asset is retained, the relevant financial asset shall be recognized according to the degree of continued involvement
in the transferred financial asset, and the relevant liabilities shall be recognized accordingly.
When the overall transfer of financial assets meets the conditions for derecognition, the difference between the
following two amounts shall be included in the current profit or loss: (1) the book value of the transferred financial
assets on the date of derecognition; (2) the sum of the consideration received from the transfer of financial assets
and the amount of the derecognized part in a cumulative amount of change in fair value which is originally included
in other comprehensive income (the financial assets involved in the transfer are debt instrument investments at fair
value through other comprehensive income). A part of financial assets is transferred, and if the transferred part
meets the conditions for derecognition entirely, the book value of the whole financial asset before transfer shall be
allocated between the derecognized part and the continued recognition part according to their relative fair values on
the transfer date, and the difference between the following two amounts shall be included in current profit or loss:
(1) the book value of the derecognized part; (2) the sum of the consideration of the derecognized part and the amount
of the corresponding derecognized part in the accumulated amount of changes in fair value originally directly
included in other comprehensive income (the financial assets involved in the transfer are debt instrument
investments at fair value through other comprehensive income).
4. Methods for determination of the fair value of financial assets and financial liabilities
When determining the fair value of related financial assets and financial liabilities, the Company adopts the
valuation technique applicable in the prevailing circumstance and supported by sufficient available data and other
information. The Company classifies the input values used by the valuation technique as the following tiers and
uses them in turns:
(1) Level 1 input value refers to the unadjusted quotations of the same assets or liabilities in an active market
which can be obtained on the measurement date;
(2) Level 2 input value refers to them directly or indirectly observable input value of relevant assets or liabilities
apart from Level 1 input value, including: quotations of similar assets or liabilities on an active market; quotations
of identical or similar assets or liabilities in markets that are not active; observable input values other than quotations,
such as interest rates and yield curves that are observable during normal quotation intervals; input values for market
validation, etc.;
(3) Level 3 input value refers to the unobservable input value of relevant assets or liabilities, including the
volatility of interest rate and stock that cannot be directly observed or cannot be verified by observable market data,
the future cash flows of the disposal obligations assumed in the business combination, financial forecasts made
using its own data, etc.
5. Impairment of financial instruments
On the basis of expected credit loss, for financial assets at amortized cost, debt instrument investments at fair
value through other comprehensive income, contract assets, lease receivables, loan commitments other than those
classified as financial liabilities at fair value through profit or loss, financial guarantee contracts that do not belong
to financial liabilities at fair value through profit or loss or financial liabilities formed by the transfer of financial
assets that do not meet the conditions for derecognition or continue to be involved in the transferred financial assets
shall be impaired and loss allowance shall be recognized.

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Expected credit loss refers to the weighted average of credit losses of financial instruments weighted by the
risk of default. Credit loss refers to the difference between all contract cash flow receivables according to the
contract, and all cash flows expected to be collected, i.e., the present value of all cash shortfalls. The financial assets
purchased or generated by the Company that have suffered credit impairment are discounted according to the credit-
adjusted effective interest rate of the financial assets.
For the purchased or originated financial assets with credit impairment, the Company only recognizes the
cumulative change of expected credit loss in the whole existence period after initial recognition as the loss allowance
on the balance sheet date.
For lease receivables, and the receivables and contract assets arising from transactions as stipulated under the
Accounting Standards for Business Enterprises No. 14—Revenue, the Company uses simplified measurement
methods to measure the loss allowance according to the expected credit loss amount equivalent to the whole duration.
For financial assets other than the above measurement methods, the Company assesses whether its credit risk
has increased significantly since initial recognition on each balance sheet date. If the credit risk has increased
significantly since the initial recognition, the Company shall measure the loss allowance according to the amount
of expected credit loss during the whole existence period. If the credit risk has not increased significantly since the
initial recognition, the Company shall measure the loss allowance according to the amount of expected credit loss
of the financial instrument in the next 12 months.
The Company uses available reasonable and based information, including forward-looking information, to
determine whether the credit risk of financial instruments has increased significantly since the initial recognition by
comparing the default risk of financial instruments on the balance sheet date with the default risk on the initial
recognition date.
On the balance sheet date, if the Company judges that the financial instrument only has low credit risk, it is
assumed that the credit risk of the financial instrument has not increased significantly since the initial recognition.
The Company evaluates the expected credit risk and measures the expected credit loss on the basis of a single
financial instrument or combination of financial instruments. When based on the portfolio of financial instruments,
the Company divides the financial instruments into different portfolios according to the common risk characteristics.
The Company re-measures the expected credit loss on each balance sheet date, and the resulting increase or
reversal of the loss allowance is included in the current profit or loss as impairment loss or profit. For financial
assets at amortized cost, the loss provision is offset against the book value of the financial asset as given in the
balance sheet; For debt investment measured at fair value through other comprehensive income, the loss allowances
are recognized in other comprehensive income by the Company instead of offsetting the book value of the financial
assets.
6. Offset of financial assets and financial liabilities
Financial assets and financial liabilities are listed separately on the balance sheet and can not offset each other.
However, if the following conditions are met at the same time, the net amount after mutual offset shall be listed in
the balance sheet: (1) the Company has the legal right to set off the recognized amount, and such legal right is
currently enforceable; (2) the Company intends either to settle on a net basis, or to realize the financial assets and
pay off the financial liabilities simultaneously.
For the transfer of financial assets not in line with the conditions for derecognition, the Company does not
offset the transferred financial assets and liabilities.
12. Recognition Criteria and Provisioning Method for Expected Credit Losses on Receivables and Contract
Assets
1. Accounts receivable with expected credit losses provided by portfolio of credit risk characteristics

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Portfolio category
Basis for determining
portfolios
Method for measuring expected credit loss
Bank acceptance bills receivable
Type of notes
With reference to historical credit loss
experience and in combination with the
current situation and the forecast of future
economic conditions, the expected credit loss
is calculated through default risk exposure and
the expected credit loss rate in the whole
duration
Commercial acceptance bill receivables
Accounts receivable - aging portfolio
Aging
With reference to historical credit loss
experience and in combination with the
current situation and the forecast of future
economic conditions, the comparison table
between the aging of accounts receivable and
the expected credit loss rate is compiled to
calculate the expected credit loss
Accounts receivable - trade accounts portfolio of
overseas subsidiaries
Nature of account
With reference to historical credit loss
experience and in combination with the
current situation and the forecast of future
economic conditions, the expected credit loss
is calculated through default risk exposure and
the expected credit loss rate in the whole
duration
Accounts receivable - Related party dealings portfolio
within the scope of consolidation
Related parties within
the
scope
of
consolidation [note]
Other receivables - Related party dealings portfolio
within the scope of consolidation
Related parties within
the
scope
of
consolidation [note]
With reference to historical credit loss
experience and in combination with the
current situation and the forecast of future
economic conditions, the expected credit loss
is calculated through default risk exposure and
the expected credit loss rate in the next 12
months or the whole duration.
Other receivables - security deposits for borrowings
portfolio
Nature of account
Other receivables - government receivables portfolio
Other receivables - futures margin portfolio
Other
receivables
-
Paper
trading
settlement
receivables portfolio
Other receivables - deposit and margin receivables
portfolio
Other receivables - reserve fund receivables portfolio
Other receivables - current account portfolio
[Note]: This refers to related parties within the scope of the Company’s consolidated financial statements.
2. Comparison of aging and expected credit loss rates for the aging portfolio
Aging
Expected credit loss rate of accounts receivable (%)
Within 1 year (included, the same below)
5
1-2 year(s)
10
2-3 years
30
Above 3 years
100
The aging of accounts receivable shall be calculated from the date of initial recognition.
3. Criteria for identifying accounts receivable with expected credit losses provided by a single basis
For accounts receivable with credit risk significantly different from the portfolio credit risk, the Company
makes provisions for expected credit losses by a single basis.
13. Contract Assets

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The Company presents contract assets or contract liabilities in the balance sheet based on the relationship
between the performance of obligations and customer payments. The Company presents contract assets and contract
liabilities under the same contract on a net basis after offsetting them against each other.
The Company presents the right to consideration from a customer that is unconditional (i.e., requiring only the
passage of time before payment is due) as a receivable, and presents the right to consideration in exchange for goods
transferred to a customer (where the right is conditioned on something other than the passage of time) as a contract
asset.
14. Inventory
1. Classification of inventories
Inventory includes finished products or commodities held for sale in ordinary course of business, products in
the process of production, materials and supplies consumed in the process of production or providing labor services.
2. Measurement method for inventories issued
Inventories issued shall be weighted average at the end of each month.
3. Inventory system of inventories
The perpetual inventory system is adopted for inventories.
4. Amortization method for low-value consumables and packaging materials
(1) Low-value consumables
Low-value consumables are amortized using the one-off amortization method.
(2) Packaging materials
Packaging materials are amortized using the one-off amortization method.
5. Inventory write-down provision
On the balance sheet date, the inventory was measured at the lower of the cost and net realizable value.
Inventory falling price reserves were accrued based on the difference between the cost and the net realizable value.
The net realizable value of inventory directly used for sale will be determined by the amount of the estimated selling
price of the inventory minus the estimated sales expenses and related taxes. For inventories requiring processing,
net realizable value is determined in the ordinary course of business as the estimated selling price of the finished
goods less the estimated costs to completion, estimated selling expenses and relevant taxes and surcharges.
15. Long-term equity investment
1. Judgment of joint control and significant influence
Joint control refers to the shared control over a certain arrangement according to the relevant agreement, and
decisions about the relevant activities of the arrangement require the unanimous consent of the parties sharing
control. Significant influence refers to that one party has the power to participate in the decision-making of financial
and operating policies of the investee but is unable to control or jointly control these policies with other parties.
2. Determination of investment cost
(1) For business combination under the same control, where the combining party uses cash payment, transfer
of non-cash assets, assumption of debts or issuing of equity securities as combination consideration, the share of
owners’ equity of the combined party acquired in the book value of total owners’ equity in consolidated financial
statements of the ultimate controller on the combination date shall be identified as the initial investment cost of
long-term equity investment. The difference between the initial investment cost of long-term equity investment and
the book value of the combination consideration paid or the par value of the issued shares is adjusted against the
capital reserve. If the capital reserve is not sufficient for offsetting, the adjustment is made to retained earnings.

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For the long-term equity investments formed through business combination under the same control and
implemented through multiple transactions step by step by the Company, it is a must to judge whether they are
“package deals”. If they are package deals, each deal is regarded as a deal to obtain control right for accounting
treatment. If it is not a package deal, on the date of combination, the share of the book value of net assets of the
combined party that should be enjoyed after combination in the consolidated financial statements of the ultimate
controller, is recognized as an initial investment cost. The difference between the initial investment cost of long-
term equity investment on the date of combination and the sum of the book value of long-term equity investment
before the combination is realized and the book value of consideration additionally paid to further acquire shares
on the date of combination is adjusted against the capital reserve. If the capital reserve is not sufficient for offsetting,
the adjustment is made to retained earnings.
(2) As for business combinations not under the same control, the fair value of the consideration transferred at
the acquisition date is recorded as the initial investment cost of long-term equity investment.
For the long-term equity investments formed through business combination not under the same control and
implemented through multiple transactions step by step by the Company, the accounting treatment is different in
separate financial statements and consolidated financial statements:
1) In separate financial statements, the initial investment cost of long-term equity investment accounted using
the cost method is measured at the sum of the book value of equity investment originally held and investment cost
additionally paid.
2) In consolidated financial statements, it is a must to judge whether they are “package deals”. If they are
package deals, each deal is regarded as a deal to obtain control right for accounting treatment. Suppose these
transactions are not "package deals", the equities of the acquiree held before the purchase date shall be re-measured
at fair value at the purchase date. The difference between the fair value and its book value shall be recognized as
current investment income. In case the equity of the acquiree held before the purchase date involves other
comprehensive income under the equity method, relevant other comprehensive income shall be transferred to the
current return on the purchase date, except for other comprehensive income resulting from the re-measurement of
the investee's net defined benefit plan liabilities or changes in net assets.
(3) Except for the formation of business combination: As for those obtained by cash payment, the actually paid
purchase price is taken as the initial investment cost; the long-term equity investment formed by issuing equity
securities, the fair value of issuing equity securities is taken as the initial investment costs. If acquired through debt
restructuring, its initial investment cost shall be determined in accordance with the Accounting Standards for
Business Enterprises No. 12—Debt Restructuring; in the case of non-monetary asset exchange, the initial
investment cost shall be determined in accordance with the Accounting Standards for Business Enterprises No. 7—
Exchange of Non-monetary Assets.
3. Methods for subsequent measurement and profit or loss recognition
The long-term equity investment in the invested entity under its control will be accounted for through the cost
method; long-term equity investment in associates and joint ventures is accounted for under the equity method.
4. Treatment methods for investments in subsidiaries through multiple deals step by step until control losing
(1) Judgment principle for whether a "package deal" or not
If the equity investment in the subsidiary is disposed of step by step through multiple transactions until it loses
control, the Company will judge whether the step-by-step transaction is a "package deal" by combining the terms
of the transaction agreement, the disposal consideration obtained separately, the object of equity sale, the disposal
method and the disposal time in each step of the step-by-step transactions. The terms, conditions and economic
impact of each transaction meet one or more of the following conditions, which usually indicates that multiple
transactions are "package deals":

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1) These transactions were concluded at the same time or under the consideration of mutual impact;
2) These transactions as a whole can achieve a complete business result;
3) The occurrence of a transaction depends on the occurrence of at least one other transaction;
4) A transaction is uneconomical when viewed alone, but it is economical when considered together with other
transactions.
(2) Accounting treatment for non-"package deals"
1) Separate financial statements
For disposal of equity, the difference between the carrying amount of the equity interest disposed of and the
actual disposal proceeds shall be recorded into current profit or loss. For the remaining equity, if the investor still
has significant influence over the investee or imposes joint control with other parties, it is accounted for by the
equity method; In case of failure to control, jointly control or significantly influence the investee, it shall be
calculated in accordance with the provisions of the Accounting Standards for Business Enterprises No. 22—
Recognition and Measurement of Financial Instruments.
2) Consolidated financial statements
Before losing control, the capital reserves (capital premium) are adjusted at the difference between the disposal
consideration and the share in net assets of subsidiaries calculated continuously from the acquisition date or
combination date corresponding to the disposal of long-term equity investment; if the capital premium is not
sufficient to be offset, retained earnings are offset.
When losing control over a former subsidiary, the remaining equity is re-measured at the fair value on the date
of control loss. The balance of the sum of the consideration received through the disposal of equity and the fair
value of the remaining equity after deducting the entitled share of net assets continuously calculated at the original
shareholding ratio from the purchase date or the date of combination in the subsidiary is recognized in the investment
income for the period during which the control is lost, and is written off against goodwill. Other comprehensive
income related to equity investment in the former subsidiary is reclassified to investment income for the period
during which the control is lost.
(3) Accounting treatment for "package deals"
1) Separate financial statements
Each deal is considered as a deal for the disposal of the subsidiary and losing control of accounting treatment.
However, the difference between the disposal consideration of each deal before losing the control and the book
value of long-term equity investment corresponding to the disposal investment is recognized as other comprehensive
income in separate financial statements, and when the control is lost, transferred together into profit or loss for the
period during which the control is lost.
2) Consolidated financial statements
Each deal is considered as a deal for the disposal of the subsidiary and losing control of accounting treatment.
However, the difference between the disposal consideration of each deal before losing the control and the entitled
share of net assets of the subsidiary corresponding to the disposal investment is recognized as other comprehensive
income in consolidated financial statements, and when the control is lost, transferred together into profit or loss for
the period during which the control is lost.
16. Investment properties
Measurement model of investment properties
Measurement by the cost method
Depreciation or amortization methods

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1. The Company’s investment properties include leased land-use rights, land-use rights held for capital
appreciation and subsequent transfer, and leased buildings.
2. Investment properties are initially measured by cost and subsequently measured by the cost model, with its
depreciation or amortization conducted by the same methods for fixed assets and intangible assets.
17. Fixed assets
(1) Recognition conditions
Fixed assets refer to tangible assets held for production, service, lease or operation with a service life of more
than one accounting year. Fixed assets can be recognized only when related economic benefits are very likely to
flow into the Company, and their costs can be measured reliably.
(2) Depreciation method
Category
Depreciation method
Depreciable
life
(years)
Residual value rate
(%)
Annual depreciation
rate (%)
Housing and buildings
Straight-line
depreciation method
5-30
5 or 10
19.00-3.00
Machinery
and
equipment
Straight-line
depreciation method
10-15
5 or 10
9.50-6.00
Transportation
facilities
Straight-line
depreciation method
4-5
5 or 10
23.75-18.00
Other equipment
Straight-line
depreciation method
3-10
5 or 10
31.67-9.00
18. Construction in progress
1. Construction in progress is able to be recognized only when related economic benefits are very likely to
flow into the Company, and its costs can be measured reliably. Construction in progress is measured at the actual
cost incurred before such asset is ready for the intended use.
2. Construction in progress is carried forward to fixed assets based on actual costs of the project when it is
ready for its intended use. As for construction in progress which is ready for the intended use but has not gone
through the formalities of final accounts of completion, it shall be transferred into fixed assets at the estimated value.
Upon the final accounts of completion, the previous tentatively estimated value other than accrued depreciation
shall be adjusted based on actual costs.
Category
Standards and timing for carrying forward construction in progress to fixed assets
Housing and buildings
The main project and supporting projects have been substantially completed and the engineering has
met the predetermined design requirements, and has been accepted by the survey, design,
construction, supervision and other units.
Machinery and equipment
After installation and commissioning, it meets the design requirements or the standards specified in
the contract
19. Borrowing costs
1. Recognition principle of the capitalization of borrowing costs

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Where the borrowing costs incurred to the Company can be directly attributable to the acquisition and
construction or production of a qualifying asset for capitalization, it shall be capitalized and recognized as costs of
relevant assets; Other borrowing costs shall be recognized as an expense when they are incurred and included in
current profit or loss.
2. Capitalization period of borrowing costs
(1) Capitalization begins when the borrowing cost meets the following conditions: 1) asset expenditure has
been incurred; 2) the borrowing costs have been incurred; 3) the acquisition, construction or production activities
necessary to bring the asset to its intended use or sales have been initiated.
(2) Where the acquisition and construction or production process of assets eligible for capitalization are
interrupted abnormally and the interruption period lasts for more than 3 months, the capitalization of the borrowing
costs shall be suspended. The borrowing costs incurred during such period shall be recognized as expenses of the
current period until the asset's acquisition and construction or production activity restarts.
(3) When the assets acquired, constructed or produced qualified for capitalization conditions are ready for
intended use or sales, the capitalization of the borrowing costs shall be ceased.
3. Capitalization rate and amount of borrowing costs
In case of special borrowing for the acquisition & construction or production of assets eligible for capitalization
conditions, the amount of interest eligible for capitalization shall be recognized after deducting the bank interests
for the unused portion or the investment income for short-term investment from the interest costs (including
recognized discount or amortization of premium under effective interest method) actually occurred in the current
period of specific borrowing. Where a general borrowing is used for the acquisition, construction, or production of
assets eligible for capitalization, it shall determine the capitalization amount of interests on the general borrowing
by multiplying the weighted average asset expenses of the part of the accumulative asset expenses minus the special
borrowings by the capitalization rate of the general borrowings used.
20. Intangible assets
(1) Service life and its determination basis, estimation, amortization method or review procedure
1. Intangible assets include land use rights, use right for sea area, emission rights, patented technology and
management software, and so on, which are initially measured according to cost.
2. Any intangible asset with a limited service life shall be amortized in a systematic and rational manner
based on the expected realization method of economic benefits related to it within its service life; where the
expected realization method cannot be confirmed reliably, the straight-line method shall be adopted. Details are as
follows:
Item
Service life and its determination basis
Amortization method
Land-use right
15-50 years, registration period of land use right
certificate
Straight-line method
Know-how
6-10 years, expected income period
Straight-line method
Management software
5-10 years, expected income period
Straight-line method
Emission rights
5-20 years, registration period of the certificate
Straight-line method
Sea area use right
1-50 years, registration period of the certificate
Straight-line method

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(2) Collection scope of R&D expenditure and related accounting treatment methods
(1) Personnel labor expenses
Personnel labor expenses include the Company's R&D personnel's wages and salaries, basic pension insurance
premiums, basic medical insurance premiums, unemployment insurance premiums, work-related injury insurance
premiums, maternity insurance premiums and housing provident fund, as well as the labor costs of external R&D
personnel.
If R&D personnel serve on multiple R&D projects at the same time, the labor expenses shall be identified
based on the working time records of the R&D personnel for each R&D project provided by the Company's
management department and allocated proportionally among the different R&D projects.
For personnel directly engaged in R&D activities and external R&D personnel who are also engaged in non-
R&D activities, the Company will allocate the actual labor expenses incurred by the R&D personnel in different
positions between R&D expenses and production and operating expenses based on reasonable methods such as the
proportion of actual working hours, based on the working hour records of the R&D personnel in different positions.
(2) Direct input costs
Direct input costs refer to the actual expenses incurred by the Company in implementing R&D activities.
Including: 1) directly consumed materials, fuel and power costs; 2) R&D and manufacturing costs of molds and
process equipment used for intermediate tests and product trials, purchase costs of samples, prototypes and general
testing means that do not constitute fixed assets, and inspection costs of trial products; 3) operating maintenance,
adjustment, inspection, testing, and repair of instruments and equipment used in R&D activities.
(3) Depreciation expenses and long-term deferred expenses
Depreciation expenses refer to the depreciation of instruments, equipment and buildings in use used for R&D
activities.
For instruments, equipment and buildings in use that are used for R&D activities and are also used for non-
R&D activities, necessary records shall be made on the use of such instruments, equipment and buildings in use,
and the actual depreciation incurred shall be allocated between R&D expenses and production and operating
expenses using a reasonable method based on factors such as actual working hours and area used.
Long-term deferred expenses refer to the long-term deferred expenses incurred during the renovation,
retrofitting, decoration, and repair of R&D facilities, which are aggregated based on actual expenditures and
amortized evenly over the specified period.
(4) Intangible assets amortization expenses
Intangible assets amortization expenses refer to the amortization expenses of software, intellectual property,
non-patented technologies (proprietary technologies, licenses, designs and calculation methods, etc.) used in R&D
activities.
(5) Design expenses
Design expenses refer to the expenses incurred in the conception, development and manufacture of new
products and new processes, the design of processes, technical specifications, procedures, and operating
characteristics, including related costs incurred in creative design activities to obtain innovative, creative, and
breakthrough products.
(6) Equipment debugging and testing expenses
Equipment debugging and testing expenses refer to the expenses incurred in R&D activities during tooling
preparation, including the costs incurred in developing special and dedicated production machines, changing
production and quality control procedures, or formulating new methods and standards.

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Expenses incurred for routine tooling preparation and industrial engineering for large-scale batch and
commercial production are not included in the collection scope.
(7) Commissioned external R&D expenses
Commissioned external R&D expenses refer to the expenses incurred when the Company entrusts other
domestic or foreign institutions or individuals to carry out R&D activities (the results of the R&D activities are
owned by the Company and are closely related to the Company's main business operations).
(8) Other expenses
Other expenses refer to other expenses directly related to R&D activities in addition to the above expenses,
including technical book and material fees, material translation fees, expert consultation fees, high-tech R&D
insurance premiums, retrieval, demonstration, review, appraisal, and acceptance fees of R&D results, application
fees, registration fees, agency fees for intellectual property rights, conference fees, travel expenses, communication
expenses, etc.
The expenditure in the research stage of internal research and development projects is included in the current
profit or loss. The expenditures incurred during the development of an internal R&D project shall be recognized as
intangible assets if they simultaneously meet the following conditions: (1) It is technically feasible to complete the
intangible assets so that they can be used or sold; (2) it is intended to finish and use or sell the intangible assets; (3)
the ways for intangible assets to generate economic benefits shall be proven useful, including the way to prove that
there is a potential market for the products manufactured with the intangible assets or there is a potential market for
the intangible assets or the intangible assets will be used internally; (4) enough technical and financial resources
and other resources are available to support the development of such intangible assets, and the Company is able to
use or sell such intangible assets; (5) the expenses incurred from developing the intangible asset can be reliably
measured.
21. Impairment of long-term assets
Long-term assets such as long-term equity investment, investment properties measured by the cost model,
fixed assets, construction in progress, right-of-use assets and intangible assets with limited service lives shall be
evaluated for their recoverable amount in case of any sign of impairment at the balance sheet date. For goodwill
formed by business combination and intangible assets with uncertain service life, an impairment test should be
carried out every year regardless of whether there is a sign of impairment. Goodwill impairment testing must be
done in combination with the asset group or asset group portfolio to which it is linked.
Where the recoverable amount of asset is lower than its book value, the Company shall recognize the provision
for asset impairment based on the difference and recognize such loss into the current gains and losses.
22. Long-term deferred expenses
Long-term deferred expenses refer to all expenses that have been paid and have an amortization period of more
than one year (excluding one year). Long-term deferred expenses are recorded at the actual incurred amount and
amortized on an average basis by stages over the beneficial period or prescribed period. If a long-term deferred
expense can no longer generate benefits in future accounting periods, its remaining unamortized balance is
recognized in profit or loss for the current period in full.
23. Contract liabilities
The Company presents contract assets or liabilities in the balance sheet based on the relation between
performance obligation and customer payment. The Company will record the net amount of contract assets and
contract liabilities under the same contract after they are set off against each other.

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The Company presents the obligation to transfer goods to the customer for considerations received or
receivable from the customer as a contract liability.
24. Employee remuneration
Employee benefits include short-term employee benefits, post-employment benefits, termination benefits and
other long-term employee benefits.
(1) Accounting treatment of short-term employee benefits
During the accounting period in which employees provide services to the Company, the short-term employee
benefits actually incurred are recognized as liabilities and included in current profit or loss or the cost of related
assets.
(2) Accounting treatment of post-employment benefits
Post-employment benefits are classified into defined contribution plans and defined benefit plans.
(1) During the accounting period in which employees provide services to the Company, the contributions
payable under defined contribution plans are recognized as liabilities and included in current profit or loss or the
cost of relevant assets.
(2) The accounting treatment for a defined benefit plan generally includes the following steps:
1) In accordance with the projected unit credit method, demographic and financial variables are estimated using
unbiased and consistent actuarial assumptions, the obligations arising from the defined benefit plan are measured,
and the period for the relevant obligation is determined. In the meantime, the obligations arising from the defined
benefit plan are discounted to determine the present value and current cost of service of the defined benefit plan.
2) Where the defined benefit plan involves any assets, the deficit or surplus resulting from the present value of
obligations in the defined benefit plan minus the fair value of assets shall be recognized as net liabilities or net assets
of the defined benefit plan. Where the defined benefit plan has any surplus, the Company will measure the net assets
of the defined benefit plan based on the surplus or asset limit of the defined benefit plan (whichever is the lower);
3) At the end of the period, the Company shall recognize the cost of employee remuneration as cost of service,
the net interest of net liabilities or net assets of the defined benefit plan and changes arising from the re-measurement
of net liabilities or net assets of the defined benefit plan, in which the cost of service and net interest of net liabilities
or net assets of the defined benefit plan are recorded in the current profit or loss or relevant asset cost, changes
arising from the re-measurement of net liabilities or net assets of the defined benefit plan are recorded in other
comprehensive income and is not allowed to be carried back to gains or losses during the subsequent accounting
period, but the amounts recognized in other comprehensive income can be transferred within the equity scope.
(3) Accounting treatment method for dismissal benefits
Where dismissal benefits are provided to employees, liabilities in employee remuneration are recognized and
included in the current profit or loss when: (1) the Company is not in a position to unilaterally withdraw dismissal
benefits provided under termination plans or layoff proposals; (2) when the Company recognizes the costs or
expenses related to restructuring involving the payment of dismissal benefits.

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(4) Accounting treatment method for other long-term employee benefits
Where other long-term employee benefits provided by the Company meet the conditions of a defined
contribution plan, they are accounted for in accordance with the relevant provisions applicable to defined
contribution plans. Other long-term employee benefits are accounted for in accordance with the relevant provisions
applicable to defined benefit plans. In order to simplify relevant accounting treatments, the employee remuneration
cost resulting from other long-term employee benefits shall be recognized as cost of service, the total net amount of
component items, including net interest of net liabilities or net asset of other long-term employee benefits, as well
as changes arising from re-measurement of net liabilities or net asset of other long-term employee benefits and so
on, is recorded in current profit or loss or relevant asset cost.
25. Provisions
1. As the obligations arising from contingencies such as external guarantees, litigation matters, product quality
assurance, and loss-making contracts constitute present obligations of the Company, the performance of such
obligations is likely to result in the outflow of economic benefits from the company, and the amount of such
obligations can be measured reliably, the Company shall recognize such obligations as provisions.
2. The Company initially measures the provisions according to the best estimate of expenditures required to
fulfill relevant current obligations and reviews the book value of the provisions on the balance sheet date.
26. Revenue
1. Revenue recognition principle
The Company assesses the contract from the commencement date of the contract and identifies each distinct
performance obligation contained in the contract, and determines whether each individual performance obligation
will be fulfilled during a certain period or at a certain time point.
It will constitute performance of the obligation in a certain period of time if any of the following conditions
are met; otherwise it will constitute performance of obligation at a certain time point: (1) the customer obtains and
consumes economic benefits arising from contract performance by the Company; (2) the customer can control goods
in progress during the process of contract performance by the Company; (3) goods arising from contract
performance by the Company have irreplaceable purposes, and the Company is entitled to receive payment for
accumulatively completed performance proportion to date throughout the contract term.
If the performance obligations are performed within the specified period, the Company will recognize the
income within this period in accordance with the progress of the contract's performance. If the performance progress
cannot be determined reasonably and the costs incurred are expected to be compensated, the income will be
recognized according to the costs incurred until the performance progress is determined reasonably. If the
performance obligations are performed at a time point, the Company will recognize the income at the time when
the customer obtains control power over goods or services. When judging whether the customer has already obtained
the right of control over goods, the Company shall consider the following items: (1) the Company has the right to
receive payment currently; namely, the customer assumes the obligation of making payment currently in regards to
the goods; 2) the Company has already transferred the legal ownership of the goods to the customer; namely, the
customer has already obtained the legal ownership of such goods; 3) the Company has already transferred the
material object of the goods to the customer, namely the customer has already obtained such goods in the material
object; 4) the Company has already transferred the significant risks and rewards of ownership of the goods to the
customer, namely, the customer has already obtained the significant risks and rewards of ownership of the goods;

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(5) the customer has accepted such goods; (6) other signs that indicate the customer has already obtained the control
over goods.
2. Revenue measurement principles
(1) The income shall be measured by the Company according to the transaction price apportioned to each single
performance obligation. Transaction price refers to the amount of consideration the Company expects to receive for
the transfer of goods or services to the customer, but it does not include payments received on behalf of the third
party or funds to be returned to the customer.
(2) In case of variable consideration in contract, the Company will determine the best estimate of variable
consideration in line with the expected or most possible amount, but the transaction price that contains variable
consideration is included in the transaction price only to the extent that it is highly probable that a significant reversal
in the amount of cumulative revenue recognized will not occur when the relevant uncertainty is subsequently
resolved.
(3) If there is significant financing in the contract, the Company shall determine the transaction price according
to the amount payable in cash when the client obtains control of the goods or services. The difference between the
transaction price and contract consideration is amortized by the effective interest method during the term of the
contract. On the contract commencement date, if the Company estimates that the time between the customer's
acquisition of control over goods or services and the payment of the price by the customer will not exceed one year,
the significant financing in the contract shall not be considered.
(4) If there are two or more performance obligations in the contract, at the beginning of the contract, the
Company shall allocate the transaction price to each separate performance obligation according to the relative
proportion of the stand-alone selling price of the goods promised by each performance obligation.
3. Specific methods for revenue recognition
The Company mainly sells oil refining products, chemical products, PTA, polyester chip, polyester filaments
and film, and so forth, fulfilling its performance obligation at a certain time point. Revenue from domestic sales are
recognized when the Company has delivered the products to the buyer, the amount of product sales revenue has
been determined, the payment for goods has been recovered, or the collection voucher has been obtained, and the
relevant economic benefits are likely to flow in. Revenue from overseas market sales are recognized when the
Company has declared the products at the customs and obtained the bill of lading according to the contract, the
amount of product sales revenue has been determined, the payment for goods has been recovered, or the collection
voucher has been obtained, and the relevant economic benefits are likely to flow in.
27. Contract acquisition costs and contract performance costs
Where the incremental cost incurred by the Company to acquire the contract is expected to be recovered, it is
recognized in the form of contract acquisition cost as an asset. The contract acquisition cost for which the
amortization period does not exceed one year shall be directly included in the current profit or loss as incurred. The
costs incurred by the Company for performing the contract, if not within the applicability scope of relevant standards
relating to inventories, fixed assets or intangible assets, can be recognized as an asset within the contract
performance cost if the following conditions are met:
1. The cost is related to a current contract or a contract to be obtained, including direct labor, direct materials,
manufacturing overhead (or similar costs), costs explicitly chargeable to the customer, and other costs incurred
solely as a result of the contract;
2. The cost increases the resources available to the Company to fulfill performance duties in the future;
3. The costs are expected to be recovered.

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Assets related to contract cost are amortized on the same basis as recognition of revenue of goods or services
related to the asset and recognized in current profit or loss.
If the book value of assets relating to contract cost is higher than the remaining consideration expected to be
obtained due to the transfer of goods or services relating to the assets minus the estimated cost to be incurred, the
Company accrues impairment reserves for the excess portion and recognizes it as an asset impairment loss. If the
factors causing the impairment of the prior period change and make the remaining consideration expected to be
obtained due to the transfer of goods or services relating to the assets minus the estimated cost to be incurred higher
than the book value of the asset, the withdrew asset impairment provision shall be reversed and recorded in the
current gains or losses, but the book value of the asset after reversion shall not exceed the book value of the asset at
the reversion date under the condition of not withdrawing the impairment provision.
28. Government grants
1. Government grants are recognized when both of the following conditions are met: (1) the Company is able
to meet the conditions attached to the government grants; (2) the Company can receive government grants. In the
case of a monetary asset, the government subsidies shall be measured at the amount received or receivable. In the
case of a non-monetary asset, the government grants shall be measured at fair value; where the fair value cannot be
reliably obtained, it shall be measured in accordance with the nominal amount.
2. Judgment basis and accounting method for asset-related government grants
Government grants or subsidies that are required by government documents to be used for the acquisition or
other formation of long-term assets are classified as asset-related government grants. If the government documents
are not clear, judgment shall be made on the basis of the basic conditions that must be met to obtain the grants, and
those that are based on the acquisition, construction or other formation of long-term assets are treated as asset-
related government grants. Government grants relating to the assets are either written off against the book value of
the relevant assets or recognized as deferred income. The government grants recognized as deferred income shall
be recorded in the profit or loss on a reasonable and systematic basis over the service life of relevant assets. The
government grants measured according to notional amount shall be directly included in current profit or loss. If the
relevant asset has been sold, transferred, retired or damaged before the end of the service life, the balance of the
relevant deferred income that has not been allocated will be transferred into the current profit or loss of asset disposal.
3. Judgment basis and accounting method for income-related government grants
Government grants other than those related to assets will be classified into income-related government grants.
For government grants that include both asset-related and income-related components and for which it is difficult
to distinguish between the two, the entire grant is classified as an income-related government grant. Income-related
government grants of the Company are used for compensation for relevant costs & expenses or losses in subsequent
periods, which are recognized as deferred income, and recorded in current profit or loss or offset against relevant
costs in the period of recognition of relevant costs, expenses or losses. Government grants for compensation for
incurred relevant costs and expenses or losses are directly included in current profit or loss or offset against relevant
costs.
4. The government grants related to the daily business activities of the Company shall be recorded into other
income or written down related costs and expenses according to the economic and business nature. Government
grants not related to the ordinary course of business of the Company are recorded in non-operating income and
expenses.
5. Accounting treatment method for policy-based preferential loans with interest subsidy
(1) Where the government finance department disburses the discount interest funds to the lending bank, and
the lending bank provides loans to the Company at preferential policy interest rates, the Company shall use the

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actual amount of loans received as the entry value, and calculate the borrowing costs based on the principal and the
preferential policy interest rate.
(2) If the government finance department allocates the discount interest funds directly to the Company, the
discount interest will be used to offset the borrowing costs.
29. Deferred Tax Assets/Deferred Tax Liabilities
1. Depending on the difference between the book value and the tax base of assets or liabilities (the difference
between the tax base and the book value if the tax base of items not recognized as assets or liabilities can be
determined based on tax laws), the deferred income tax assets or deferred income tax liabilities shall be calculated
and recognized based on the applicable tax rate during the expected asset recovery or liability settlement period.
2. Deferred income tax assets shall be recognized to the extent of probable taxable income used for deducting
temporary deductible difference. On the balance sheet date, if there is concrete evidence indicating that it is likely
to obtain enough taxable income in the future to offset temporary deductible difference, the deferred income tax
assets that were not recognized in previous accounting periods should be recognized.
3. At each balance sheet date, the Company reviews the carrying amount of deferred tax assets. The carrying
amount is reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow
the benefits of the deferred tax assets to be utilized. Any such reduction is reversed when it becomes probable that
sufficient taxable profits will be available.
4. The current income taxes and deferred income taxes of the Company are recorded as income tax expense or
income in the current gains or losses, excluding income taxes arising from: (1) business combination; (2)
transactions or events recognized directly in owners’ equity.
5. When both following conditions are met, the Company will list the deferred income tax assets and deferred
income tax liabilities as net amount after offset: (1) When the Company has the legal right to settle the income tax
assets and income tax liabilities of the Company in the current period with net amount; and (2) the deferred income
tax assets and deferred income tax liabilities are related to the income tax levied by the same tax collection and
management department from the same subject of tax payment or from different subjects of tax payment but the
subject of tax payment involved intends to settle the current income tax assets and current income tax liabilities
with the net amount or obtain the assets and liquidate the liabilities simultaneously in each future important period
when the deferred income tax assets and deferred income tax liabilities are written back.
30. Lease
(1) Accounting treatment method of lease as the lessee
1. The Company as lessee
On the commencement date of the lease term, the Company recognizes the lease with a lease term of no more
than 12 months and without the purchase option as a short-term lease; and recognizes the lease with lower value
when a single leased asset is brand new as a low-value asset lease. In case of a sublease or expected sublease of
lease asset, the original lease will not be deemed as a low-value asset lease.
For all short-term leases and low-value asset leases, the Company will recognize the lease payment in the
relevant asset cost or current profit or loss under the straight-line method during each period of the lease term.
In addition to the above short-term leases and low-value asset leases under simplified treatment, the Company
recognizes the right-of-use assets and lease liabilities for the lease on the commencement date of the lease term.
(1) Right-of-use assets

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The right-of-use assets shall be initially measured at cost. The cost includes: 1) the initial measurement amount
of the lease liability; 2. the amount of lease payment made on or before the commencement date of lease term, net
of the relevant amount of used lease incentives (if any); 3. the initial direct expenses incurred by the lessee; 4)
expected cost to be incurred by the lessee for the purpose of disassembly and removal of lease assets, restoration of
the site where leased assets are located or restoration of leased assets to the status as agreed in lease terms.
The Company will use the straight-line method to calculate the depreciation of the right-of-use assets. Where
it is reasonably certain that the ownership of the leased assets can be obtained at the expiry of the lease term, the
leased assets shall be depreciated by the Company over its remaining service life. Where it is not reasonably certain
that the ownership of the leased assets can be obtained at the time the term of the lease expires, the Company shall
accrue the depreciation within the shorter of the lease period and the remaining service life of the leased assets.
(2) Lease liabilities
On the commencement date of the lease, the Company recognizes the present value of outstanding lease
payments as lease liabilities. In calculating the present value of the lease payments, the Company adopts the interest
rate embedded in the lease as the discount rate. If the Company is unable to determine the interest rate embedded in
the lease, it will adopt the incremental borrowing rate as the discount rate. The difference between the lease payment
and its present value is treated as unrecognized financing expenses, on which the interest expenses are recognized
at the discount rate of the present value of the lease payment during each period of the lease term and included in
the current profit or loss. The variable lease payments not included in the measurement of lease liabilities shall be
included in current profit or loss when actually incurred.
After the inception of the lease, the Company measures lease liabilities again according to the present value of
the lease payments after the change, and adjusts the book value of the right-of-use asset accordingly in case of
changes in in-substance fixed lease payments, changes in amounts expected to be payable under residual value
guarantees, the index or ratio used to determine the lease payment amount, the purchase option, and evaluation
result or the actual exercise situation of the lease renewal option or the termination option. Where the book value of
the right-of-use asset has been reduced to zero, but a further reduction is required for the lease liabilities, the
remaining amount shall be included in the current profit or loss.
2. After-sale leaseback
According to the Accounting Standards for Business Enterprises No.14-Revenue, the Company evaluates and
determines whether the asset transfer in the after-sale leaseback transaction belongs to sales.
If the asset transfer in the after-sale leaseback transaction belongs to sales, the Company will measure the right-
of-use assets formed by after-sale leaseback according to the part of the book value of the original assets related to
the right-of-use obtained by leaseback, and only recognize the relevant gains or losses for the right transferred to
the lessor.
If the asset transfer in the after-sale leaseback transaction does not belong to sales, the Company will continue
to recognize the transferred assets, and at the same time recognize a financial liability equal to the transferred income,
and conduct accounting treatment for the financial liability according to the Accounting Standards for Business
Enterprises No.22-Recognition and Measurement of Financial Instruments.
(2) Accounting treatment method of lease as the lessor
1. The Company as lessor
At the inception of the lease, a lease that transfers in substance almost all risks and rewards related to the
ownership of leased assets is classified as a financing lease by the Company. Except for the financing lease, others
are treated as the operating lease.
(1) Operating lease

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During each period of the lease term, the Company recognizes the lease receipts as rental income under the
straight-line method, and the initial direct costs incurred are capitalized and amortized on the same basis as the
recognition of rental income, which is included in the current profit or loss by installment. Variable lease payments
the Company acquired in connection with operating leases that are not included in the lease receipts are recognized
in the current profit or loss when actually incurred.
(2) Financing lease
At the commencement date of the lease, the Company recognizes a finance lease receivable based on the net
lease investment (the sum of the unsecured residual value and the present value of the lease collection not received
on the first date of the lease term and discounted at the interest rate implicit in the lease), and derecognizes the
financing lease assets. During each period of the lease term, the Company calculates and recognizes the interest
income at the interest rate implicit in the lease.
The variable lease payments obtained by the Company that are not included in the measurement of the net
lease investment are included in the current profit or loss when actually incurred.
2. After-sale leaseback
According to the Accounting Standards for Business Enterprises No.14-Revenue, the Company evaluates and
determines whether the asset transfer in the after-sale leaseback transaction belongs to sales.
If the asset transfer in the after-sale leaseback transaction belongs to sales, the Company will carry out
accounting treatment on the asset purchase according to other applicable accounting standards for business
enterprises, and carry out accounting treatment on the asset lease according to the Accounting Standards for
Business Enterprises No.21-Lease.
If the asset transfer in the after-sale leaseback transaction does not belong to sales, the Company will not
recognize the transferred assets, but recognize the financial assets equal to the transferred income, and conduct
accounting treatment for the financial assets according to the Accounting Standards for Business Enterprises No.22-
Recognition and Measurement of Financial Instruments.
31. Other significant accounting policy and accounting estimate
Accounting treatment methods related to repurchasing company's shares
If the Company acquires its own shares for purposes such as reducing its registered capital or rewarding
employees, the amount actually paid shall be recognized as treasury shares, with a corresponding memorandum
record maintained. If the repurchased shares are cancelled, the difference between the aggregate par value of the
cancelled shares, calculated based on the par value and number of shares cancelled, and the amount actually paid
for the repurchase shall be deducted from capital reserve. Where the capital reserve is insufficient, the remaining
amount shall be deducted from retained earnings. If the repurchased shares awarded to employees constitute equity-
settled share-based payments, upon employees exercising their rights to purchase the Company’s shares and paying
the consideration, the cost of the treasury shares delivered to employees and the cumulative amount recognized in
capital reserve (other capital reserve) during the vesting period shall be derecognized, and the difference shall be
adjusted against capital reserve (share premium).
32. Changes in significant accounting policies and accounting estimates
(1) Significant accounting policy changes
R Applicable □ Not applicable
1) Effective January 1, 2026, the Company adopted the provisions of Accounting Standards for Business
Enterprises Interpretation No. 19 issued by the Ministry of Finance concerning “the accounting treatment of

Full text of 2026 Semi-Annual Report
129 / 214
indemnification assets in business combinations not under common control.” This change in accounting policy had
no impact on the Company’s financial statements.
2) Effective January 1, 2026, the Company adopted the provisions of Accounting Standards for Business
Enterprises Interpretation No. 19 issued by the Ministry of Finance concerning “the accounting treatment of the
relevant capital reserve upon disposal of a subsidiary originally acquired through a business combination under
common control.” This change in accounting policy had no impact on the Company’s financial statements.
3) Effective January 1, 2026, the Company adopted the provisions of Accounting Standards for Business
Enterprises Interpretation No. 19 issued by the Ministry of Finance concerning “the derecognition of financial
liabilities settled using an electronic payment system.” This change in accounting policy had no impact on the
Company’s financial statements.
4) Effective January 1, 2026, the Company adopted the provisions of Accounting Standards for Business
Enterprises Interpretation No. 19 issued by the Ministry of Finance concerning “the assessment of the contractual
cash flow characteristics of financial assets and related disclosures.” This change in accounting policy had no impact
on the Company’s financial statements.
5) Effective January 1, 2026, the Company adopted the provisions of Accounting Standards for Business
Enterprises Interpretation No. 19 issued by the Ministry of Finance concerning “disclosures relating to equity
instruments designated as measured at fair value through other comprehensive income.” This change in accounting
policy had no impact on the Company’s financial statements.
(2) Changes in significant accounting estimate
□ Applicable R Not applicable
(3) Adjustments to Relevant Items of the Opening Financial Statements upon the Initial Application of New
Accounting Standards in 2026
□ Applicable R Not applicable
33. Others
1. Work safety cost
The work safety costs withdrawn by the Company in accordance with the Administrative Measures for the
Collection and Utilization of Enterprise Work Safety Funds (CZ [2022] No. 136) promulgated by the Ministry of
Finance and the Ministry of Emergency Management were charged to the costs of relevant products or current profit
or losses and also to the "special reserve". In the case of using the withdrawn safety production costs, if they belong
to cost expenditure, they shall directly offset the special reserves. Where a fixed asset is formed, the expenditures
incurred shall be collected under the item “Construction in Progress” and shall be recognized as a fixed asset when
the completed work safety project is ready for its intended use. Moreover, the special reserves shall be written down
upon the cost of the formed fixed assets, and the accumulated depreciation of the same amount shall be confirmed,
and such fixed assets will not be depreciated in any following period.
2. Segment report
The Company determines the operating segment on the basis of its internal organizational structure,
management requirements, internal reporting system and so on. Operating segments refer to components within the
Company satisfying all the following conditions:
(1) It engages in business activities from which it may earn revenues and incur expenses;

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(2) The management can evaluate the operating results of such components on a regular basis, so as to decide
to allocate resources to them and evaluate their performance;
(3) It has access to accounting information of the component, such as its financial condition, operation result
and cash flow.
VI. Taxes
1. Main tax categories and tax rates
Tax category
Basis of taxation
Tax rate
Value-added tax
Output VAT is calculated based on
revenue from the sale of goods and the
provision of taxable services in
accordance with tax laws. VAT payable
is the excess of output VAT over
creditable input VAT for the current
period.
13%, 9%, 6% [Note 1]
Consumption tax
Taxable sales (volume)
[Note 2]
Urban maintenance and construction tax
Actual payment of turnover tax
7%, 5%
Enterprise income tax
Taxable income
[Note 3]
Property tax
The remaining value after deducting 30%
from the original value of the property in
one go for ad valorem collection; the
rental income for rent based collection.
1.2%, 12%
Education surcharge
Actual payment of turnover tax
3%
Local education surcharge
Actual payment of turnover tax
2%
[Note 1] Sales of goods are subject to VAT at a rate of 13%. Rental income and sales of liquefied petroleum gas
and steam are subject to VAT at a rate of 9%. Revenue from carbon emission allowances, warehousing services and
other businesses, and interest income are subject to VAT at a rate of 6%. The “exemption, credit and refund” policy
applies to exported goods, with an export tax refund rate of 13%.
[Note 2] Sales of fuel oil, diesel and aviation kerosene are subject to consumption tax at RMB 1.2/liter. Sales of
gasoline and naphtha are subject to consumption tax at RMB 1.52/liter.
[Note 3] Enterprise income tax rates applicable to taxpayers subject to different tax rates are set out in the table
above.

Name of taxpayer
Income tax rate
Subsidiaries Zhejiang Shengyuan Chemical Fiber Co., Ltd.,
Ningbo Zhongjin Petrochemical Co., Ltd., Yisheng Dahua
Petrochemical Co., Ltd., Zhejiang Petroleum & Chemical Co.,
Ltd., Zhejiang Yongsheng Technology Co., Ltd.
15%
Subsidiaries Hong Kong Shenghui Co., Ltd., Hong Kong
Yisheng Dahua Petrochemical Co., Ltd., Yisheng New Materials
Trading Co., Ltd., Rongsheng Petrochemical (Hong Kong) Co.,
Ltd., Rongsheng Petrochemical (Singapore) Private Co., Ltd.,
Rongtong Logistics (Singapore) Private Co., Ltd., and Zhejiang
Petroleum & Chemical (Singapore) Private Co., Ltd.
The tax shall be calculated and paid according to the relevant tax
rates of the country and region where the business is located.
Subsidiaries Rongxiang Chemical Fiber Co., Ltd., Rongsheng
International Trade (Hainan) Co., Ltd., Dalian Yisheng New
20%

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Materials Co., Ltd. and Zhejiang Rongyi Trading Co., Ltd.,
Zhejiang Rongyi Chemical Fiber Co., Ltd.
Other taxpayers other than the above
25%
2. Tax preference
1. According to requirements in the Notice on the Continuation of the Policy of Partial Consumption Tax on
Naphtha and Fuel Oil by the Ministry of Finance, People's Bank of China and State Taxation Administration (No.
87 [2011] of the Ministry of Finance), the Notice on Improving the Tax Refund Policy of Consumption Tax for
Ethylene Aromatic Chemical Products from Naphtha and Fuel Oil by the Ministry of Finance, People's Bank of
China, General Administration of Customs and State Taxation Administration (No. 2 [2013] of the Ministry of
Finance), the Interim Measures for the Refund (Exemption) of Consumption Tax for Naphtha and Fuel Oil Used in
the Production of Ethylene and Aromatic Chemical Products by the State Taxation Administration (Announcement
of the State Administration of Taxation No. 36 of 2012) and the Announcement on the Refund of Consumption Tax
for Ethylene and Aromatic Chemical Products from Naphtha and Fuel Oil by the State Administration of Taxation
and General Administration of Customs (Announcement No. 29 of 2013 of the State Administration of Taxation and
the General Administration of Customs). Under these regulations, enterprises that use naphtha and fuel oil to
produce ethylene and aromatics are entitled to a refund, based on actual consumption, of the consumption tax
included in naphtha and fuel oil purchased and actually used in the production of ethylene and aromatic chemical
products. Ningbo Zhongjin Petrochemical Co., Ltd. and Zhejiang Petroleum & Chemical Co., Ltd., subsidiaries of
the Company, are entitled to the preferential policy for refunding consumption tax paid at the procurement stage.
According to the requirements of the Notice on Continuing the Increase of Refined Oil Consumption Tax by
the Ministry of Finance and State Administration of Taxation (No. 11 [2015] of the Ministry of Finance), the unit
consumption tax of diesel, aviation kerosene and fuel oil increase from RMB 1.1/L to RMB 1.2/L, and suspension
of consumption tax continues to apply in aviation kerosene. The subsidiary Zhejiang Petroleum & Chemical Co.,
Ltd. enjoys the preferential policy of suspension of consumption tax for selling aviation kerosene.
2. Pursuant to the Announcement on Policies for Deepening the Value-added Tax Reform (Announcement No.
39 of 2019 of the Ministry of Finance, the State Taxation Administration and the General Administration of
Customs), the Announcement on Further Strengthening the Implementation of the Policy for Refunding Excess
Input Value-added Tax Credits (Announcement No. 14 of 2022 of the Ministry of Finance and the State Taxation
Administration), and the Announcement on Improving the Policy for Refunding Excess Input Value-added Tax
Credits (Announcement No. 7 of 2025 of the Ministry of Finance and the State Taxation Administration), the pilot
system for refunding excess input VAT credits at the end of a period has been implemented since April 1, 2019,
under which manufacturing enterprises may apply to the competent tax authorities for refunds of their excess input
VAT credits. The Company and certain subsidiaries met the relevant conditions and received refunds of excess
input VAT credits totaling RMB 51.2186 million during the current period.
3. According to the Announcement on Filing of High-tech Enterprises Recognized by Zhejiang Provincial
Accreditation Institutions in 2025 issued by the Office of the National High-tech Enterprise Accreditation
Management Leading Group, subsidiaries Zhejiang Shengyuan Chemical Fiber Co., Ltd. and Zhejiang Petroleum
& Chemical Co., Ltd. have passed the high-tech enterprise accreditation and obtained the High-tech Enterprise
Certificate numbered GR202533008268 and GR202533003871 respectively. The validity period of the recognition
is 2025-2027, and the enterprise income tax is calculated and paid at a reduced rate of 15% in the current period.
According to the Announcement on the Filing of the Second Batch of High-Tech Enterprises Recognized and
Reported by Dalian City Certification Organization in 2024 issued by the Office of the National High-tech
Enterprise Recognition Management Leading Group, the subsidiary Yisheng Dahua Petrochemical Co., Ltd. passed
the high-tech enterprise accreditation and obtained the High-tech Enterprise Certificate with the number of

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132 / 214
GR202421201548, which is valid from 2024 to 2026. The enterprise income tax shall be calculated and paid at the
reduced tax rate of 15% in this period.
According to the Announcement on Filing the First Batch of High-tech Enterprises Recognized by Ningbo City
Authority in 2025 issued by the Office of the National High-tech Enterprise Recognition Management Leading
Group, Ningbo Zhongjin Petrochemical Co., Ltd., a subsidiary, has passed the high-tech enterprise accreditation
and obtained the High-tech Enterprise Certificate with the number of GR202533101851, with the validity period of
2025-2027. The enterprise income tax is calculated and paid at the reduced tax rate of 15% in the current period.
According to the Announcement on the Filing of the New Technology Enterprises Identified and Reported by
Zhejiang Provincial Certification Organization in 2024 issued by the Office of the National High-tech Enterprise
Recognition Management Leading Group, Zhejiang Yongsheng Technology Co., Ltd., a subsidiary, has passed the
high-tech enterprise accreditation and obtained the High-tech Enterprise Certificate with the number of
GR202433003748, with the validity period of 2024-2026. The enterprise income tax is calculated and paid at the
reduced tax rate of 15% in the current period.
4. According to the Announcement on Further Supporting the Development of Small and Micro Enterprises
and Individual Industrial and Commercial Households of the Ministry of Finance and the State Administration of
Taxation (Announcement No.12 of the Ministry of Finance and the State Administration of Taxation in 2023), the
taxable income of small and micro enterprises will be calculated at a reduced rate of 25%, and their corporate income
tax will be paid at a rate of 20%, which will continue to be implemented until December 31, 2027. Subsidiaries
Rongxiang Chemical Fiber Co., Ltd. Rongsheng International Trade (Hainan) Co., Ltd., Dalian Yisheng New
Materials Co., Ltd., Zhejiang Rongyi Trading Co., Ltd. and Zhejiang Rongyi Chemical Fiber Co., Ltd. meet the
above requirements in this period. The urban maintenance and construction tax, education surcharge and local
education surcharge are levied at half the applicable rates for small low-profit enterprises. Subsidiaries Dalian
Yisheng New Materials Co., Ltd. and Zhejiang Rongyi Chemical Fiber Co., Ltd. met the relevant requirements
during the current period.
5. According to the Announcement on the Policy of Adding and Deducting Value-added Tax for Advanced
Manufacturing Enterprises of the Ministry of Finance and State Taxation Administration (Announcement No.43 of
the Ministry of Finance and the State Administration of Taxation in 2023), from January 1, 2023 to December 31,
2027, advanced manufacturing enterprises are allowed to add 5% to the deductible input tax for offsetting the
payable value-added tax in the current period. In the current period, subsidiaries Zhejiang Shengyuan Chemical
Fiber Co., Ltd., Yisheng Dahua Petrochemical Co., Ltd., Ningbo Zhongjin Petrochemical Co., Ltd., Zhejiang
Petroleum & Chemical Co., Ltd. and Zhejiang Yongsheng Technology Co., Ltd. are entitled to the above-mentioned
policy of adding and deducting.
6. Pursuant to the Notice on Policies Relating to Urban Maintenance and Construction Tax, Education
Surcharge and Local Education Surcharge in Connection with Refunds of Excess Input Value-added Tax Credits
(Cai Shui [2018] No. 80), taxpayers receiving refunds of excess input VAT credits are permitted to deduct the
refunded VAT amount from the tax or levy bases for urban maintenance and construction tax, education surcharge
and local education surcharge. During the current period, subsidiaries Zhejiang Shengyuan Chemical Fiber Co.,
Ltd., Yisheng Dahua Petrochemical Co., Ltd., Dalian Rongxincheng Trading Co., Ltd. and Ningbo Zhongjin
Petrochemical Co., Ltd. were entitled to this tax incentive.
7. Pursuant to the Notice on Issues Relating to the Implementation of the Catalogues of Enterprise Income Tax
Incentives for Special-purpose Equipment for Environmental Protection, Energy and Water Conservation, and
Work Safety (Cai Shui [2008] No. 48), 10% of the investment in eligible special-purpose equipment purchased by
an enterprise for environmental protection, energy and water conservation, and work safety may be credited against
its enterprise income tax payable for the current year. Any unused credit may be carried forward to subsequent years
for a period not exceeding five tax years. Subsidiaries Yisheng Dahua Petrochemical Co., Ltd. and Zhejiang

Full text of 2026 Semi-Annual Report
133 / 214
Petroleum & Chemical Co., Ltd. purchased eligible special-purpose equipment and were entitled to the tax credit
equal to 10% of the relevant investment.
VII. Notes to Items in the Consolidated Financial Statements
1. Cash and bank balances
Unit: RMB
Item
Ending balance
Beginning balance
Cash on hand
1,413,280.19
1,356,245.56
Bank deposit
22,141,340,239.80
12,158,835,849.89
Other monetary funds
1,591,882,933.50
1,339,477,383.39
Total
23,734,636,453.49
13,499,669,478.84
Including: Total amount of overseas deposits
6,428,922,904.11
2,275,567,146.98
2. Derivative financial assets
Unit: RMB
Item
Ending balance
Beginning balance
Paper futures contract
46,337,328.78
36,638,553.50
Foreign exchange derivatives
145,968,183.76
242,190,249.19
Total
192,305,512.54
278,828,802.69
3. Accounts receivable
(1) Disclosure by aging
Unit: RMB
Aging
Ending book balance
Beginning book balance
Within 1 year (inclusive of 1 year)
2,337,256,735.63
3,217,852,678.84
1-2 years
6,638,391.69
6,188,146.81
2-3 years
10,858.87
1,177.56
Above 3 years
12,807.34
12,160.09
Total
2,343,918,793.53
3,224,054,163.30
(2) Classified disclosure by bad debt accrual method
Unit: RMB
Category
Ending balance
Beginning balance
Book balance
Bad-debt provision
Book
value
Book balance
Bad-debt provision
Book
value
Amount
Proporti
on
Amount
Percent
age of
provisio
n

Amount
Proporti
on
Amoun
t
Percent
age of
provisio
n


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Accounts
receivable
with
provision
for bad debt
reserves
based on
aging
portfolio
2,343,91
8,793.53
100.00%
82,955,1
31.77
3.54%
2,260,
963,66
1.76
3,224,05
4,163.30
100.00%
54,748,
800.99
1.70%
3,169,30
5,362.31
Total
2,343,91
8,793.53
100.00%
82,955,1
31.77
3.54%
2,260,
963,66
1.76
3,224,05
4,163.30
100.00%
54,748,
800.99
1.70%
3,169,30
5,362.31
Provision for bad debt by combination:
Unit: RMB
Name
Ending balance
Book balance
Bad-debt provision
Percentage of provision
Portfolio of trade receivables
from overseas subsidiaries
691,752,183.69


Aging portfolio
1,652,166,609.84
82,955,131.77
5.02%
Total
2,343,918,793.53
82,955,131.77
3.54%
Accounts receivable of provision for bad debt by aging combination:
Unit: RMB
Aging
Amount by the end of the period
Book balance
Bad-debt provision
Accrual ratio
Within 1 year
1,645,504,551.94
82,275,227.60
5.00%
1-2 year(s)
6,638,391.69
663,839.17
10.00%
2-3 years
10,858.87
3,257.66
30.00%
Above 3 years
12,807.34
12,807.34
100.00%
Subtotal
1,652,166,609.84
82,955,131.77
5.02%
If the provision for bad debts of accounts receivable is accrued according to the general model of expected credit
loss:
□ Applicable R Not applicable
(3) Bad debt reserves accrual, recovered or reversed in the current period
Provision for bad debts in the current period:
Unit: RMB
Category
Beginning
balance
The amount of change in the current period
Ending
balance
Provision
Recovered or
reversed
Write-off
Other
Bad-debt
provision made
54,748,800.99
28,206,330.78



82,955,131.77

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135 / 214
on a portfolio
basis
Total
54,748,800.99
28,206,330.78



82,955,131.77
(4) Accounts receivables with top 5 ending balances by debtor
The total amount of the top 5 accounts receivable at the end of the period was RMB 1,299,386,560.26,
accounting for 55.43% of the total ending balance of accounts receivable at the end of the period. The corresponding
provision for bad debts was RMB 42,063,525.34.
4. Receivables financing
(1) Classified presentation of receivables financing
Unit: RMB
Item
Ending balance
Beginning balance
Bank acceptance bills
214,924,599.25
83,421,123.96
Total
214,924,599.25
83,421,123.96
(2) Receivables Financing Endorsed or Discounted by the Company at Period-end but Not Yet Matured as
of the Balance Sheet Date
Unit: RMB
Item
Amount Derecognized at Period-end
Bank acceptance bills
3,083,708,210.78
Total
3,083,708,210.78
The acceptor of bank acceptance bills is a commercial bank with high credit, and it is not likely that the bank
acceptance bills accepted by the acceptor will not be paid at maturity, so the Company will derecognize these bank
acceptance bills that have been endorsed or discounted. However, if such bills are not honored at maturity, the
Company remains jointly liable to the holders in accordance with the Law of Negotiable Instruments.
5. Other receivables
Unit: RMB
Item
Ending balance
Beginning balance
Dividends receivable
900,000,000.00

Other receivables
3,469,761,244.01
4,925,104,317.10
Total
4,369,761,244.01
4,925,104,317.10
(1) Dividends Receivable
1) Classification of Dividends Receivable
Unit: RMB
Item (or Investee)
Ending Balance
Beginning Balance

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136 / 214
Zhejiang Yisheng Petrochemical Co.,
Ltd.
900,000,000.00

Total
900,000,000.00

(2) Other receivables
1) Classification of Other Receivables by Nature
Unit: RMB
Nature of account
Ending book balance
Beginning book balance
Government receivables
3,030,267,897.26
4,575,905,403.92
Futures margin
126,003,411.21
334,936,493.12
Security deposits
22,207,907.83
19,779,471.63
Paper trading settlement receivables
269,796,687.71
41,018,656.98
Petty cash advances and others
46,933,625.14
15,703,525.34
Security deposits for borrowings

10,000,000.00
Current accounts
10,800,000.00
10,800,000.00
Total book balance
3,506,009,529.15
5,008,143,550.99
Less: Provision for bad debts
36,248,285.14
83,039,233.89
Total carrying amount
3,469,761,244.01
4,925,104,317.10
2) Disclosure by aging
Unit: RMB
Aging
Ending book balance
Beginning book balance
Within 1 year (inclusive of 1 year)
3,363,949,421.99
4,300,023,016.04
1-2 years
69,064,101.66
64,995,117.37
2-3 years
15,394,689.71
16,349,319.51
Above 3 years
57,601,315.79
626,776,098.07
Total book balance
3,506,009,529.15
5,008,143,550.99
Less: Provision for bad debts
36,248,285.14
83,039,233.89
Total carrying amount
3,469,761,244.01
4,925,104,317.10
3) Classified disclosure by bad debt accrual method
RApplicable □ Not applicable
Unit: RMB
Category
Ending balance
Beginning balance
Book balance
Bad-debt provision
Book
value
Book balance
Bad-debt provision
Book
value
Amount
Propor
tion
Amount
Percent
age of
provisio
n
Amount
Proporti
on
Amount
Percent
age of
provisio
n

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137 / 214
Provision
made for
bad debt
reserves
based on
portfolio
3,506,00
9,529.15
100.00
%
36,248,2
85.14
1.03%
3,469,76
1,244.01
5,008,14
3,550.99
100.00%
83,039,2
33.89
1.66%
4,925,10
4,317.10
Total
3,506,00
9,529.15
100.00
%
36,248,2
85.14
1.03%
3,469,76
1,244.01
5,008,14
3,550.99
100.00%
83,039,2
33.89
1.66%
4,925,10
4,317.10
Provision for bad debt by combination:
Unit: RMB
Name
Ending balance
Book balance
Bad-debt provision
Percentage of provision
Government receivables
3,030,267,897.26
5,630,321.96
0.19%
Futures margin
126,003,411.21


Security deposits
22,207,907.83
13,912,449.55
62.65%
Paper trading settlement
receivables
269,796,687.71


Petty cash advances and
others
46,933,625.14
10,105,513.63
21.53%
Current accounts
10,800,000.00
6,600,000.00
61.11%
Total
3,506,009,529.15
36,248,285.14
1.03%
4) Provision for bad debts based on the general model of expected credit losses:
1) Breakdown
Unit: RMB
Bad-debt provision
Stage I
Stage II
Stage III
Total
Expected
credit loss in
the next 12
months
Expected
credit loss over
the entire
duration
(without credit
impairment)
Expected credit loss for the entire
duration (credit impairment has
occurred)
The balance as of January 1,
2026
260,943.90
1,223,562.15
81,554,727.84
83,039,233.89
The balance as of January 1,
2026 in the current period




--Transferred into Stage II
-15,836.78
15,836.78


--Transferred into Stage III

-1,350.00
1,350.00

Provision in current period
1,367,767.55
942,803.11
-49,101,519.41
-46,790,948.75
Balance as of June 30, 2026
1,612,874.67
2,180,852.04
32,454,558.43
36,248,285.14
Provision ratio for bad debts at
period-end
0.05%
3.16%
44.46%
1.03%

2) Significant changes in gross carrying amounts that resulted in material changes in the loss allowance during the
current period
□Applicable RNot applicable

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5) Top five other receivables by debtor based on ending balances
Unit: RMB
Company name
Nature of payment
Ending balance
Aging
Proportion in a
total ending
balance of other
receivables
Ending balance of
provision for bad
debts
Other receivables 1
Tax refunds
receivable
2,587,451,481.2
6
Within 1 year
73.80%

Other receivables 2
Subsidies receivable
409,020,000.00
Within 1 year, 1-
2 years
11.67%
2,078,457.53
Other receivables 3
Paper trading
settlement
receivables
209,931,171.98
Within 1 year
5.99%

Other receivables 4
Paper trading
settlement
receivables
59,862,498.50
Within 1 year
1.71%

Other receivables 5
Subsidies receivable
33,796,416.00
Above 3 years
0.96%
3,551,864.43
Total

3,300,061,567.7
4

94.13%
5,630,321.96
6. Prepayments
(1) Prepayments presented by aging
Unit: RMB
Aging
Ending balance
Beginning balance
Amount
Proportion
Amount
Proportion
Within 1 year
3,209,139,075.25
97.10%
2,120,580,033.00
99.07%
1-2 years
89,267,888.61
2.70%
14,582,118.36
0.68%
2-3 years
2,887,361.15
0.09%
1,787,253.51
0.08%
Above 3 years
3,808,659.77
0.11%
3,649,429.09
0.17%
Total
3,305,102,984.78
100.00%
2,140,598,833.96
100.00%
Explanation of the reasons why the prepayment with an age of more than one year and an important amount has not
been settled in time:
There were no significant prepayments aged over 1 year at the end of the period.
(2) Top five recipients by ending balance of prepayments
The total amount of the top 5 prepayments at the end of the period was RMB 2,575,334,282.35, accounting for
77.92% of the total prepayments at the end of the period.
7. Inventories
Whether the Company is subject to the disclosure requirements of the real estate industry
□Yes RNo

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(1) Classification of inventories
Unit: RMB
Item
Ending balance
Beginning balance
Book balance
Inventory
write-down
provision
or
impairment
provision
for contract
fulfillment
costs
Book value
Book balance
Inventory
write-down
provision or
impairment
provision for
contract
fulfillment
costs
Book value
Raw
material
15,684,536,395.4
5

15,684,536,395.4
5
19,405,535,119.5
1
1,484,419.99
19,404,050,699.5
2
Products in
process
9,117,469,390.69

9,117,469,390.69
8,756,530,523.46
43,772,343.7
6
8,712,758,179.70
Commodity
inventory
7,045,403,985.04
3,449,003.6
2
7,041,954,981.42
5,257,352,277.10
34,319,017.0
8
5,223,033,260.02
Goods
Shipped



77,252,750.35

77,252,750.35
Low-value
consumable
s
165,701,782.53

165,701,782.53
159,032,291.33

159,032,291.33
Total
32,013,111,553.7
1
3,449,003.6
2
32,009,662,550.0
9
33,655,702,961.7
5
79,575,780.8
3
33,576,127,180.9
2
(2) Inventory write-down provision and contract performance cost impairment provisions
Unit: RMB
Item
Beginning
balance
Increase in the current period
Decrease in the current period
Ending
balance
Provision
Other
Reversal or
write-off
Other
Raw material
1,484,419.99


1,484,419.99


Products in
process
43,772,343.76


43,772,343.76


Finished Goods
34,319,017.08
1,070,657.02

31,940,670.48

3,449,003.62
Total
79,575,780.83
1,070,657.02

77,197,434.23

3,449,003.62
Specific basis for determining net realizable value, and reasons for Inventory write-down provision of reversal or
write-off in the current period:
Item
Specific basis for determining net
realizable value
Reasons for reversal of
Inventory write-down
provision
Reasons for write-off of
Inventory write-down
provision
Raw materials,
Products in
process
The net realizable value is determined
by the estimated selling price of the
related finished goods minus estimated
costs to completion, estimated selling
expenses and relevant taxes
The net realizable value of
inventories for which write-
down provisions had been made
in prior periods increased
during the current period.
The inventory with Inventory
write-down provision was
consumed/sold in this period
Finished goods
inventory,
Goods Shipped
The net realizable value is determined
by the estimated selling price of related
The net realizable value of
inventories for which write-
down provisions had been made
Inventory with recognized
Inventory write-down

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finished products minus the estimated
selling expenses and related taxes
in prior periods increased
during the current period.
provision was sold during this
period
8. Other current assets
Unit: RMB
Item
Ending balance
Beginning balance
VAT input tax to be deducted
5,072,426,804.15
5,165,468,990.03
Prepaid enterprise income tax
26,640,599.71
647,911,993.28
Consumption tax, urban construction tax
and surcharges
401,695,691.72
128,988,839.74
Leased silver
2,992,731,306.15
1,338,220,113.02
Total
8,493,494,401.73
7,280,589,936.07

9. Long-term equity investment

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Unit: RMB
Investee
Beginnin
g balance
(book
value)
Opening
balance of
impairment
provision
Increase and decrease in the current period
Ending
balance
(book
value)
Ending
balance of
provision
for
impairme
nt
Additional
investment
Reduced
investment
Investment
gains or losses
recognized
under the
equity method
Other
comprehensive
income
adjustments
Other
equity
changes
Declared
distribution
of cash
dividends
or profit
Provision
for
impairme
nt
Other
I. Joint Venture
II. Associates
Zhejiang
Yisheng
Petrochem
ical Co.,
Ltd.
2,770,776,
225.62



24,021,023.10
-2,107,424.85

900,000,000
.00


1,892,689,
823.87

Ningbo
Hengyi
Trading
Co., Ltd.
12,151,24
9.51



49,693,784.88
-8,056,860.73




53,788,17
3.66

Zhejiang
Xiaoshan
Rural
Commerci
al Bank
Co., Ltd.
2,823,663,
830.01



181,486,540.12
26,145,044.38

43,654,510.
65


2,987,640,
903.86

Hainan
Yisheng
Petrochem
ical Co.,
Ltd.
3,510,787,
453.52



172,756,944.53
-26,856,202.42




3,656,688,
195.63

ZPC-ENN
(Zhoushan
) Gas Co.,
Ltd.
21,473,85
3.18



1,477,822.92





22,951,67
6.10

Zhejiang
Dingshen
g
Petrochem
ical
Engineeri
75,202,49
9.29



623,972.99





75,826,47
2.28


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ng Co.,
Ltd.
Zhejiang
Derong
Chemicals
Co., Ltd.
332,483,1
22.11

100,000,000
.00

3,359,513.90

-36,674.20



435,805,9
61.81

Zhoushan
ZPC
Zhougang
Tugboat
Co., Ltd.
76,616,21
8.25



3,412,653.81

160,699.64



80,189,57
1.70

Zhejiang
Dongjiang
Green
Petrochem
ical
Technolog
y
Innovatio
n Center
Co., Ltd.
101,736,0
13.19



9,050,643.65





110,786,6
56.84

Ningbo
Coastal
Public
Pipe
Gallery
Co., Ltd.
11,289,31
4.54

90,000,000.
00

-353,508.81





100,935,8
05.73

Zhejiang
Zhenshi
Port
Service
Co., Ltd.
28,027,43
3.01



675,440.89





28,702,87
3.90

Subtotal
9,764,207,
212.23

190,000,000
.00

446,204,831.98
-10,875,443.62
124,025.44
943,654,510
.65


9,446,006,
115.38

Total
9,764,207,
212.23

190,000,000
.00

446,204,831.98
-10,875,443.62
124,025.44
943,654,510
.65


9,446,006,
115.38



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Recoverable amount determined based on fair value less costs of disposal
□ Applicable R Not applicable
Recoverable amount determined based on the present value of estimated future cash flows
□ Applicable R Not applicable
10. Investment properties
(1) Investment properties under the cost measurement mode
RApplicable □ Not applicable
Unit: RMB
Item
Houses and buildings
Total
I. Original book value


1. Initial balance
14,286,632.00
14,286,632.00
2. Increase in the current period


(1) Purchases


(2) Transfers from inventories/fixed assets/construction in progress


(3) Increase due to business merger


3. Decrease in the current period


(1) Disposal


(2) Other transfer-out


4. Ending balance
14,286,632.00
14,286,632.00
II. Accumulated depreciation and accumulated amortization


1. Initial balance
4,433,949.40
4,433,949.40
2. Increase in the current period
135,723.00
135,723.00
(1) Depreciation or amortization
135,723.00
135,723.00
3. Decrease in the current period


(1) Disposal


(2) Other transfer-out


4. Ending balance
4,569,672.40
4,569,672.40
III. Provision for impairment


1. Initial balance


2. Increase in the current period


(1) Accrual


3. Decrease in the current period


(1) Disposal


(2) Other transfer-out


4. Ending balance


IV. Book value


1. Closing book value
9,716,959.60
9,716,959.60
2. Beginning book value
9,852,682.60
9,852,682.60
The recoverable amount is determined based on fair value less costs of disposal

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□ Applicable R Not applicable
The recoverable amount is determined based on the present value of estimated future cash flows
□ Applicable R Not applicable
(2) Investment properties under the fair value method
□ Applicable R Not applicable
11. Fixed assets
Unit: RMB
Item
Ending balance
Beginning balance
Fixed assets
249,424,094,904.07
259,757,528,525.39
Total
249,424,094,904.07
259,757,528,525.39
(1) Fixed assets
Unit: RMB
Item
Housing and
buildings
Machinery and
equipment
Transportation
facilities
Other
equipment
Total
I. Original book
value:





1. Initial balance
73,578,714,547.25
265,432,406,408.17
283,018,776.70
443,380,899.01
339,737,520,631.13
2. Increase in the
current period
8,708,351.78
43,350,097.84
1,864,426.53
371,253,514.15
425,176,390.30
(1) Acquisition
8,708,351.78
42,608,504.91
1,864,426.53
371,253,514.15
424,434,797.37
(2) Transfer-in
from construction
in progress

741,592.93


741,592.93
(3) Increase from
Business
Combinations





3. Decrease in the
current period

17,989,783.86
27,558,288.74
992,642.39
46,540,714.99
(1) Disposal or
scrapping

17,989,783.86
27,558,288.74
992,642.39
46,540,714.99
4. Ending balance
73,587,422,899.03
265,457,766,722.15
257,324,914.49
813,641,770.77
340,116,156,306.44
II. Accumulated
depreciation





1. Initial balance
15,332,369,829.74
64,089,857,571.40
229,038,910.70
328,725,793.90
79,979,992,105.74
2. Increase in the
current period
1,616,212,933.23
9,095,809,566.55
8,907,755.22
33,344,104.59
10,754,274,359.59
(1) Accrual
1,616,212,933.23
9,095,809,566.55
8,907,755.22
33,344,104.59
10,754,274,359.59
3. Decrease in the
current period

15,351,734.94
25,910,317.77
943,010.25
42,205,062.96
(1) Disposal or
scrapping

15,351,734.94
25,910,317.77
943,010.25
42,205,062.96
4. Ending balance
16,948,582,762.97
73,170,315,403.01
212,036,348.15
361,126,888.24
90,692,061,402.37

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III. Provision for
impairment





1. Initial balance





2. Increase in the
current period





(1) Accrual





3. Decrease in the
current period





(1) Disposal or
scrapping





4. Ending balance





IV. Book value





1. Closing book
value
56,638,840,136.06
192,287,451,319.14
45,288,566.34
452,514,882.53
249,424,094,904.07
2. Beginning book
value
58,246,344,717.51
201,342,548,836.77
53,979,866.00
114,655,105.11
259,757,528,525.39
(2) Fixed asset with incomplete property right certificate
Unit: RMB
Item
Book value
Reasons for incomplete certificates of title
Houses and buildings - Shengyuan Chemical Fiber
Polymer Building, etc.
1,085,908,602.19
Still being processed
Houses and buildings - tank farm, supporting buildings
and others of ZPC
338,845,016.63
Still being processed
Houses and buildings - ZPC dormitories
536,323,240.83
Still being processed
Houses and buildings - office buildings and others of
Yisheng Dahua Petrochemical Co., Ltd.
409,763,530.64
Still being processed
Houses and buildings -film warehouse and others of
Zhejiang Yongsheng Technology Co., Ltd.
211,381,076.74
Still being processed
(3) Impairment testing of fixed assets
□ Applicable R Not applicable
12. Construction in progress
Unit: RMB
Item
Ending balance
Beginning balance
Construction in progress
52,560,962,759.09
36,209,167,814.50
Engineering materials
2,418,501,911.41
1,644,999,844.70
Total
54,979,464,670.50
37,854,167,659.20
(1) Construction in progress

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Unit: RMB
Item
Ending balance
Beginning balance
Book balance
Provision for
impairment
Book value
Book balance
Provision for
impairment
Book value
High performance resin project
11,499,447,359.99

11,499,447,359.99
10,192,664,303.89

10,192,664,303.89
High-end new material project
10,113,722,063.38

10,113,722,063.38
8,287,858,489.43

8,287,858,489.43
Jintang New Material Project
15,568,869,886.26

15,568,869,886.26
10,812,301,008.98

10,812,301,008.98
Utilities and supporting facilities
7,075,681,989.66

7,075,681,989.66
2,141,303,341.61

2,141,303,341.61
Sporadic projects
8,303,241,459.80

8,303,241,459.80
4,775,040,670.59

4,775,040,670.59
Total
52,560,962,759.09

52,560,962,759.09
36,209,167,814.50

36,209,167,814.50

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(2) Changes in major construction in progress in the current period
Unit: RMB
Project
Budget
(RMB
100
million)
Beginning
balance
Increase
in the
current
period
Amount
of fixed
assets
carried
over in
the
current
period
Other
decreases
in the
current
period
Ending
balance
Proportio
n of total
project
input to
the
budget
Project
progress
Accumula
ted
capitalize
d amount
of interest
Including
:
Capitalize
d amount
of interest
in the
current
period
Interest
capitaliza
tion rate
in the
current
period
Source of
funds
High performance
resin project
192.00
10,192,66
4,303.89
1,306,783,
056.10


11,499,44
7,359.99
91.00%
90.00%
733,212,6
33.44
128,225,9
38.22
2.25%
Bank loans,
Other
sources
High-end new
material project
420.00
8,287,858,
489.43
1,825,863,
573.95


10,113,72
2,063.38
27.00%
25.00%
57,043,86
6.25
24,981,95
5.73
2.28%
Bank loans,
Other
sources
Jintang New Material
Project
675.00
10,812,30
1,008.98
4,756,568,
877.28


15,568,86
9,886.26
26.00%
26.00%
503,744,1
37.80
205,000,2
33.58
2.60%
Bank loans,
Other
sources
Utilities and
supporting facilities

2,141,303,
341.61
4,934,378,
648.05


7,075,681,
989.66


357,342,0
10.28


Other
sources
Total

31,434,12
7,143.91
12,823,59
4,155.38


44,257,72
1,299.29


1,651,342,
647.77
358,208,1
27.53


(3) Impairment test of construction in progress
□ Applicable R Not applicable

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(4) Engineering materials
Unit: RMB
Item
Ending balance
Beginning balance
Book balance
Provision for
impairment
Book value
Book balance
Provision for
impairment
Book value
Special
materials
2,401,002,816.
42

2,401,002,816.
42
1,639,663,143.
93

1,639,663,143.
93
Special
equipment
17,499,094.99

17,499,094.99
5,336,700.77

5,336,700.77
Total
2,418,501,911.
41

2,418,501,911.
41
1,644,999,844.
70

1,644,999,844.
70
13. Right-of-use assets
(1) Situation of right-of-use assets
Unit: RMB
Item
Housing and buildings
Total
I. Original book value


1. Initial balance
86,209,524.36
86,209,524.36
2. Increase in the current period
49,907,837.05
49,907,837.05
(1) Additions from new leases
49,907,837.05
49,907,837.05
3. Decrease in the current period
49,003,967.60
49,003,967.60
(1) Contract termination and transfer
49,003,967.60
49,003,967.60
4. Ending balance
87,113,393.81
87,113,393.81
II. Accumulated depreciation


1. Initial balance
59,147,452.36
59,147,452.36
2. Increase in the current period
14,588,970.37
14,588,970.37
(1) Accrual
14,588,970.37
14,588,970.37
3. Decrease in the current period
46,745,600.10
46,745,600.10
(1) Disposal


(2) Termination of contract and transfer
46,745,600.10
46,745,600.10
4. Ending balance
26,990,822.63
26,990,822.63
III. Provision for impairment


1. Initial balance


2. Increase in the current period


(1) Accrual


3. Decrease in the current period


(1) Disposal


4. Ending balance


IV. Book value


1. Closing book value
60,122,571.18
60,122,571.18

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2. Beginning book value
27,062,072.00
27,062,072.00
(2) Impairment test of right-of-use assets
□ Applicable R Not applicable

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14. Intangible assets
(1) Intangible assets
Unit: RMB
Item
Land-use right
Proprietary Technology
Management software
Emission rights
Sea area use right
Total
I. Original book value






1. Initial balance
10,233,994,973.10
5,879,510.85
63,139,236.32
84,184,187.41
41,083,997.72
10,428,281,905.40
2. Increase in the
current period
432.62

6,747,797.47
4,696,061.00
9,005,517.08
20,449,808.17
(1) Acquisition
432.62

6,747,797.47
4,696,061.00
9,005,517.08
20,449,808.17
(2) Internal R&D






(3) Increase due to
business merger






3. Decrease in the
current period






(1) Disposal






4. Ending balance
10,233,995,405.72
5,879,510.85
69,887,033.79
88,880,248.41
50,089,514.80
10,448,731,713.57
II. Accumulated
amortization






1. Initial balance
1,227,263,463.00
4,920,391.38
41,753,616.87
60,821,888.96
7,834,095.93
1,342,593,456.14
2. Increase in the
current period
104,355,491.20
94,339.62
3,002,461.35
2,616,052.98
4,813,055.60
114,881,400.75
(1) Accrual
104,355,491.20
94,339.62
3,002,461.35
2,616,052.98
4,813,055.60
114,881,400.75
3. Decrease in the
current period






(1) Disposal






4. Ending balance
1,331,618,954.20
5,014,731.00
44,756,078.22
63,437,941.94
12,647,151.53
1,457,474,856.89
III. Provision for
impairment







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1. Initial balance






2. Increase in the
current period






(1) Accrual






3. Decrease in the
current period






(1) Disposal






4. Ending balance






IV. Book value






1. Closing book value
8,902,376,451.52
864,779.85
25,130,955.57
25,442,306.47
37,442,363.27
8,991,256,856.68
2. Beginning book
value
9,006,731,510.10
959,119.47
21,385,619.45
23,362,298.45
33,249,901.79
9,085,688,449.26


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(2) Land-use right for which the certificate of title has not been obtained
Unit: RMB
Item
Book value
Reasons for incomplete certificates of title
Land-use right
512,016,294.04
Still being processed
Subtotal
512,016,294.04

(3) Impairment test of intangible assets
□ Applicable R Not applicable
15. Long-term deferred expenses
Unit: RMB
Item
Beginning
Balance
Current-period
Additions
Current-period
Amortization
Other
Reductions
Ending Balance
Improvement Expenditures on
Leased Fixed Assets

1,010,597.58
44,174.98

966,422.60
Total

1,010,597.58
44,174.98

966,422.60

16. Deferred income tax assets, deferred income tax liabilities
(1) Deferred income tax assets before offset
Unit: RMB
Item
Ending balance
Beginning balance
Deductible temporary
difference
Deferred income tax
assets
Deductible temporary
difference
Deferred income tax
assets
Provisions for asset
impairment
73,570,852.93
11,353,488.27
132,087,595.85
20,051,007.82
Unrealized profit from
internal transactions
251,192,873.28
52,202,340.46
174,555,812.58
40,826,277.11
Deductible tax losses
carried forward
9,288,214,458.04
1,686,455,682.58
9,919,705,630.57
1,781,179,358.45
Changes in fair value
of trading financial
instruments and
derivative financial
instruments
15,237,380.66
2,285,607.10
49,347,430.82
10,013,897.63
Deferred income
447,555,802.14
67,877,814.75
386,404,952.54
58,738,520.64
Lease liabilities
18,953,973.37
2,843,096.01
37,729,036.17
5,659,355.43
Provisions
44,542,210.85
6,681,331.63
43,782,604.66
6,567,390.70
Total
10,139,267,551.27
1,829,699,360.80
10,743,613,063.19
1,923,035,807.78

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(2) Deferred income tax liabilities before offset
Unit: RMB
Item
Ending balance
Beginning balance
Taxable temporary
difference
Deferred income tax
liabilities
Taxable temporary
difference
Deferred income tax
liabilities
One-time pre-tax
deduction of long-term
assets
8,779,807,630.19
1,316,971,144.52
9,209,739,455.74
1,381,460,918.36
Borrowing costs
capitalized in the
construction of long-
term assets by
subsidiaries using
borrowings contributed
by the parent company
as paid-in capital, as
reflected in the
consolidated financial
statements
1,970,328,832.04
317,372,690.09
1,962,158,305.99
309,663,627.22
Changes in fair value
of trading financial
instruments and
derivative financial
instruments
165,701,857.90
26,828,646.10
273,896,236.86
43,092,081.30
Right-of-use assets
12,401,852.24
1,860,277.84
24,803,704.50
3,720,555.68
Government subsidies
409,020,000.00
102,255,000.00
409,020,000.00
102,255,000.00
Asset retirement costs
for fixed assets
28,615,507.97
4,292,326.20
31,795,008.79
4,769,251.32
Total
11,365,875,680.34
1,769,580,084.75
11,911,412,711.88
1,844,961,433.88
(3) Deferred income tax assets or liabilities presented as net amount after offset
Unit: RMB
Item
Ending offset amount
of deferred income
tax assets and
liabilities
Ending balance of
deferred income tax
assets and liabilities
after offset
Beginning offset
amount of deferred
income tax assets and
liabilities
Beginning balance of
deferred income tax
assets and liabilities
after offset
Deferred income tax
assets
230,435,080.96
1,599,264,279.84
220,727,340.51
1,702,308,467.27
Deferred income tax
liabilities
230,435,080.96
1,539,145,003.79
220,727,340.51
1,624,234,093.37
(4) Details of unrecognized deferred income tax assets
Unit: RMB
Item
Ending balance
Beginning balance
Tax losses available for deduction
2,359,504,468.94
2,522,179,464.04
Changes in fair value of trading financial
instruments and derivative financial
instruments
227,273,133.24
205,609,926.17

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Deferred income
5,797,478.48
6,301,607.06
Provisions for asset impairment
12,833,282.46
2,236,985.97
Lease liabilities
48,034,264.51
2,623,049.76
Total
2,653,442,627.63
2,738,951,033.00
(5) The tax losses available for deduction of unrecognized deferred income tax assets will expire in the
following year
Unit: RMB
Year
Ending amount
Beginning amount
Note
2026
212,805,780.08
614,211,325.04

2027
1,091,975,511.22
1,092,058,167.72

2028
790,944,776.50
100,185,870.06

2029
172,783,801.19
173,281,724.51

2030
90,994,599.95
542,442,376.71

Total
2,359,504,468.94
2,522,179,464.04

17. Other non-current assets
Unit: RMB
Item
Ending balance
Beginning balance
Book balance
Provision
for
impairment
Book value
Book balance
Provision
for
impairment
Book value
Prepayment
for purchase
of long-term
assets
3,730,795,532.12

3,730,795,532.12
3,478,664,190.30

3,478,664,190.30
Total
3,730,795,532.12

3,730,795,532.12
3,478,664,190.30

3,478,664,190.30
18. Assets with ownership or use rights restricted
Unit: RMB
Item
Period end
Period beginning
Book
balance
Book
value
Restriction
type
Restriction
situation
Book
balance
Book
value
Restriction
type
Restriction
situation
Monetary
fund
568,401,31
4.82
568,401,31
4.82
Restricted
Deposits
for letters
of credit,
bank
acceptance
bills,
guarantees
and
borrowings
, and cash
in transit
630,671,60
5.40
630,671,60
5.40
Restricted
Deposits
for letters
of credit,
bank
acceptance
bills,
guarantees,
borrowings
and ETC
services,
and funds
subject to
assisted

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enforcemen
t
Fixed
assets

294,528,07
9,475.45

222,981,90
2,364.41 Mortgage
Collateral
for
borrowings
and letters
of credit
294,762,94
5,671.06
232,480,40
5,403.84
Mortgage
Collateral
for
borrowings
and letters
of credit
Intangible
assets

6,136,663,5
19.99

5,338,563,7
67.58 Mortgage
Collateral
for
borrowings
and letters
of credit
6,136,663,0
87.37
5,436,131,0
65.75
Mortgage
Collateral
for
borrowings
and letters
of credit
Constructio
n in
progress
16,583,927,
518.98
16,583,927,
518.98
Mortgage
Collateral
for
borrowings
and letters
of credit
14,296,159,
065.39
14,296,159,
065.39
Mortgage
Collateral
for
borrowings
and letters
of credit
Total
317,817,07
1,829.24
245,472,79
4,965.79


315,826,43
9,429.22
252,843,36
7,140.38


19. Short-term borrowings
Unit: RMB
Item
Ending balance
Beginning balance
Mortgage borrowings
50,037,534.44

Guaranteed borrowings
51,162,169,841.60
47,763,339,280.37
Unsecured borrowings
1,977,898,567.21
2,433,317,607.22
Total
53,190,105,943.25
50,196,656,887.59
20. Derivative financial liabilities
Unit: RMB
Item
Ending balance
Beginning balance
Paper Futures Contracts
242,510,513.90
244,350,092.55
Foreign Exchange Derivatives

10,607,264.44
Total
242,510,513.90
254,957,356.99
21. Notes payable
Unit: RMB
Category
Ending balance
Beginning balance
Bank acceptance bills
1,633,752,998.56
1,823,730,094.93
Total
1,633,752,998.56
1,823,730,094.93
22. Accounts payable
Unit: RMB
Item
Ending balance
Beginning balance

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Payable for material procurement and operation
49,484,965,772.11
50,890,431,082.24
Payable for purchase of long-term assets
5,537,348,547.77
8,068,097,593.71
Total
55,022,314,319.88
58,958,528,675.95
23. Other payables
Unit: RMB
Item
Ending balance
Beginning balance
Dividends payable
754,030,000.00

Other payables
10,979,155,071.34
8,699,387,532.24
Total
11,733,185,071.34
8,699,387,532.24
(1) Dividends Payable
Unit: RMB
Item
Ending balance
Beginning balance
Dividends of ordinary shares
754,030,000.00

Total
754,030,000.00

(2) Other Payables
1) Other payables listed by the nature of payment
Unit: RMB
Item
Ending balance
Beginning balance
Current accounts
9,214,696,647.31
7,418,563,934.03
Deposit and security
1,023,308,991.43
995,066,265.07
Settled but unpaid operating expenses
240,079,502.39
267,785,214.09
Fund of Employee Stock Ownership Plan
413,040,000.00

Other
88,029,930.21
17,972,119.05
Total
10,979,155,071.34
8,699,387,532.24
There were no significant other payables with an aging of more than one year at the end of the period.
24. Contract liabilities
Unit: RMB
Item
Ending balance
Beginning balance
Payments for goods
2,755,473,814.03
4,083,450,306.60
Total
2,755,473,814.03
4,083,450,306.60
There were no significant contract liabilities aged over one year at the end of the period.

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25. Employee compensation payable
(1) Presentation of employee compensation
Unit: RMB
Item
Beginning balance
Increase in the
current period
Decrease in the
current period
Ending balance
I. Short-term
compensation
1,039,538,622.97
1,892,080,338.23
2,285,652,728.63
645,966,232.57
II. Post-employment
benefits - defined
contribution plan
86,276,341.91
107,185,373.36
98,296,567.40
95,165,147.87
III. Termination
benefits

759,338.55
759,338.55

Total
1,125,814,964.88
2,000,025,050.14
2,384,708,634.58
741,131,380.44
(2) Short-term remuneration
Unit: RMB
Item
Beginning balance
Increase in the
current period
Decrease in the
current period
Ending balance
1. Wage, bonus,
allowance and subsidy
1,024,175,031.56
1,780,547,453.43
2,175,892,355.56
628,830,129.43
2. Employee welfare
expenses

14,216,663.58
14,065,839.67
150,823.91
3. Social insurance
premium
13,973,215.17
60,774,006.91
59,590,023.06
15,157,199.02
Including: Medical
insurance premium
7,792,655.78
54,678,060.57
54,155,023.03
8,315,693.32
Work-related injury
insurance premium
6,180,559.39
5,792,091.38
5,131,145.07
6,841,505.70
Maternity insurance
premium

303,854.96
303,854.96

4. Housing provident
fund
301,845.50
24,444,779.05
24,415,435.05
331,189.50
5. Labor union and
personnel education
expenses
1,088,530.74
12,097,435.26
11,689,075.29
1,496,890.71
Total
1,039,538,622.97
1,892,080,338.23
2,285,652,728.63
645,966,232.57
(3) Presentation of defined contribution plan
Unit: RMB
Item
Beginning balance
Increase in the
current period
Decrease in the
current period
Ending balance
1. Basic endowment
insurance
83,652,964.13
103,943,288.41
95,323,846.71
92,272,405.83
2. Unemployment
insurance premium
2,623,377.78
3,242,084.95
2,972,720.69
2,892,742.04

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Total
86,276,341.91
107,185,373.36
98,296,567.40
95,165,147.87
26. Taxes payable
Unit: RMB
Item
Ending balance
Beginning balance
Value-added tax
167,365,725.98
443,795,758.28
Consumption tax
105,001,948.79
1,573,882,352.93
Enterprise income tax
521,174,616.38
69,159,122.59
Individual income tax
7,238,573.16
14,067,513.97
Urban maintenance and construction tax
12,372,847.30
126,276,135.66
Land use tax
66,463,686.28
120,812,522.26
Renewable energy development fund
29,059,130.14
68,624,617.30
Stamp duty
41,892,643.94
54,838,753.97
Education surcharge
4,258,127.44
52,441,911.63
Property tax
23,342,506.35
37,468,119.44
Local education surcharge
2,840,051.61
34,962,574.35
Deed tax
12,196,548.00
30,862,764.00
Special fund for water conservancy
construction
6,176,976.94
14,818,413.21
Environmental protection tax
3,259,286.68
3,140,039.05
Resource tax
15,355.80
16,990.20
Total
1,002,658,024.79
2,645,167,588.84
27. Non-current liabilities due within one year
Unit: RMB
Item
Ending balance
Beginning balance
Long-term borrowings due within one
year
37,075,751,233.13
35,425,986,183.65
Lease liabilities due within one year
24,736,242.62
40,352,085.93
Total
37,100,487,475.75
35,466,338,269.58
28. Other current liabilities
Unit: RMB
Item
Ending balance
Beginning balance
Output tax to be transferred
301,250,350.66
513,369,770.13
Silver leased in
3,025,286,351.47
1,353,959,243.79
Total
3,326,536,702.13
1,867,329,013.92

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29. Long-term borrowings
Unit: RMB
Item
Ending balance
Beginning balance
Guaranteed borrowings
44,595,728,293.82
32,766,114,434.02
Unsecured borrowings
1,923,985,086.79
1,085,305,275.56
Pledged and Guaranteed Loans
917,504,893.97
447,201,294.11
Mortgage and Guaranteed Loans
82,091,407,246.32
88,160,580,304.01
Total
129,528,625,520.90
122,459,201,307.70
[Note] The long-term borrowings of the Company and its subsidiaries include multiple bank borrowings with
financial covenants. As of June 30, 2026, the carrying amount of such borrowings was RMB 88,294,361,900. The
borrowing agreements require the Company and its subsidiaries to comply with certain covenants during the
borrowing period, including but not limited to the debt-to-asset ratio, current ratio, and interest coverage ratio. In
the event of non-compliance with such covenants, these borrowings will become repayable on demand by the
lending banks. The Company and its subsidiaries expect to be in compliance with the aforementioned covenants.
30. Lease liabilities
Unit: RMB
Item
Ending balance
Beginning balance
Lease payments
41,589,570.13

Unrecognized finance charges
662,425.13

Total
42,251,995.26

31. Provisions
Unit: RMB
Item
Beginning balance
Increase in the current period
Reason
Provision for fixed
asset abandonment
44,542,210.85
43,782,604.66
Estimated decommissioning costs
for hazardous waste landfills
Total
44,542,210.85
43,782,604.66

32. Deferred income
Unit: RMB
Item
Beginning
balance
Increase in the
current period
Decrease in the
current period
Ending balance
Reasons for
incurrence
Government
subsidies
392,706,559.60
78,785,800.00
18,139,078.98
453,353,280.62
Related to assets
Total
392,706,559.60
78,785,800.00
18,139,078.98
453,353,280.62

33. Share capital
Unit: RMB

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Beginning
balance
Increase and decrease of this change (+, -)
Ending
balance
New issue
of shares
Issue of
bonus
shares
Conversion
of
provident
fund into
shares
Other
Subtotal
Total number
of shares
9,989,442,25
4.00





9,989,442,2
54.00
34. Capital reserve
Unit: RMB
Item
Beginning balance
Increase in the
current period
Decrease in the
current period
Ending balance
Capital premium (share
premium)
8,917,604,948.20


8,917,604,948.20
Other capital reserves
40,582,009.19
63,252.97

40,645,262.16
Total
8,958,186,957.39
63,252.97

8,958,250,210.36
Other notes, including notes to increase and decrease in the current period and its reasons:
Due to other changes in the owners’ equity of the associate other than net profit or loss, other comprehensive
income, and profit distribution, the Company's entitled share calculated based on its shareholding ratio, amounting
to RMB 63,252.97, was recognized in the capital reserve (other capital reserve).
35. Treasury stock
Unit: RMB
Item
Beginning balance
Increase in the
current period
Decrease in the
current period
Ending balance
Repurchase of public shares
4,988,804,885.93


4,988,804,885.93
Total
4,988,804,885.93


4,988,804,885.93
36. Other comprehensive income
Unit: RMB
Item
Beginni
ng
balance
The amount incurred in the current period
Ending
balance
Amount
incurred
before
current
income
tax
Less:
amount
included in
other
comprehens
ive income
previously
and then
transferred
into current
profit or
loss
Less:
Amount
included
in other
comprehe
nsive
income
previously
and then
transferre
d into
current
Less:
Income tax
expenses
Attributab
le to the
parent
company
after tax
Attributab
le to the
minority
shareholde
rs after tax

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retained
earnings
I. Other
comprehensiv
e income that
cannot be
reclassified
into profit or
loss








II. Other
comprehensiv
e income to be
reclassified
into profit or
loss
86,668,8
90.53
-
148,091,3
69.68



-
130,884,00
9.42
-
17,207,360.
26
-
44,215,118.
89
Including:
other
comprehensiv
e income
convertible
into profit or
loss by the
equity method
119,611,
570.98
-
10,875,44
3.62



-
2,818,582.8
9
-
8,056,860.7
3
116,792,98
8.09
Translation
difference of
financial
statements in
foreign
currency
-
32,942,6
80.45
-
137,215,9
26.06



-
128,065,42
6.53
-
9,150,499.5
3
-
161,008,10
6.98
Total other
comprehensiv
e income
86,668,8
90.53
-
148,091,3
69.68



-
130,884,00
9.42
-
17,207,360.
26
-
44,215,118.
89
37. Special reserves
Unit: RMB
Item
Beginning balance
Increase in the
current period
Decrease in the
current period
Ending balance
Work safety expenses
55,804,605.92
182,969,740.61
145,571,866.37
93,202,480.16
Total
55,804,605.92
182,969,740.61
145,571,866.37
93,202,480.16
Other notes, including notes to increase and decrease in the current period and its reasons:
The increase and decrease of special reserve in this period are the safety production expenses accrued and
used by subsidiaries Yisheng Dahua Petrochemical Co., Ltd., Ningbo Zhongjin Petrochemical Co., Ltd., Zhejiang
Yisheng New Material Co., Ltd., Zhejiang Petroleum & Chemical Co., Ltd. and ZPC Zheyou Technology Co.,
Ltd.
38. Surplus reserves
Unit: RMB
Item
Beginning balance
Increase in the
current period
Decrease in the
current period
Ending balance
Statutory surplus
reserve
1,270,743,066.03


1,270,743,066.03

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Total
1,270,743,066.03


1,270,743,066.03
39. Retained earnings
Unit: RMB
Item
Current period
Prior period
Adjusted beginning balance of retained
earnings
28,221,482,065.98
28,330,397,005.41
Add: Net profit attributable to the owner
of the parent company in the current
period
5,110,652,552.96
848,314,274.77
Common stock dividends payable
957,229,214.20
957,229,214.20
Retained earnings at the end of the
period
32,374,905,404.74
28,221,482,065.98
40. Operating revenue and operating costs
(1) Details

Unit: RMB
Item
The amount incurred in the current period
Amount incurred in the previous period
Revenue
Cost
Revenue
Cost
Primary business
128,971,604,750.20
109,339,330,683.29
148,009,181,013.17
128,437,128,123.01
Other businesses
435,108,856.58
332,198,974.34
620,169,922.33
441,831,814.58
Total
129,406,713,606.78
109,671,529,657.63
148,629,350,935.50
128,878,959,937.59
Of which: Revenue
from Contracts with
Customers
129,398,286,172.05
109,668,933,736.39
148,625,506,295.70
128,876,591,060.58
(2) Breakdown of revenues
1) Breakdown of revenue generated by contracts with customers by goods or service categories
Unit: RMB
Item
Amount in the current period
Amount in the previous period
Revenue
Cost
Revenue
Cost
Oil refining
20,803,255,178.70
13,544,397,362.99
52,406,252,637.61
40,569,244,124.05
Chemicals
71,267,307,481.23
60,670,381,107.02
60,742,136,938.65
53,407,151,495.43
PTA
14,011,379,216.13
13,962,271,439.42
15,754,125,991.87
15,707,088,918.89
Polyester products,
chemical fibers and
films
13,289,684,977.32
12,389,188,913.52
11,125,503,900.41
10,959,123,038.16
Trade and others
10,026,659,318.67
9,102,694,913.44
8,597,486,827.16
8,233,983,484.05
Subtotal
129,398,286,172.05
109,668,933,736.39
148,625,506,295.70
128,876,591,060.58
2) Revenue from Contracts with Customers Disaggregated by Timing of Transfer of Goods or Services

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Unit: RMB
Item
Amount in the current period
Amount in the previous period
Revenue recognized at a certain point of time
129,398,286,172.05
148,625,506,295.70
Subtotal
129,398,286,172.05
148,625,506,295.70
3) Information related to performance obligations
Item
Timing of
satisfying
performance
obligations
Significant
payment
terms
Nature of the goods
promised to be
transferred by the
Company
Whether
acting as a
principal
Amounts
expected to be
refunded to
customers by
the Company
Types of
warranties
provided by the
Company and
related
obligations
Sale of
goods
Upon
delivery of
goods
Advances
received; the
credit period
for accounts
receivable is
generally 30 to
90 days after
product
delivery.
Products meeting national
standards
Yes
None
Assurance-type
warranty
41. Taxes and surcharges
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Consumption tax
3,296,952,404.63
11,175,699,023.28
Urban maintenance and construction tax
231,221,627.39
782,709,884.37
Education surcharge
102,144,743.03
337,116,153.80
Property tax
25,275,622.30
23,445,599.03
Land use tax
62,590,348.09
58,116,054.62
Vehicle and vessel tax
43,503.22
43,838.21
Stamp duty
89,386,359.93
113,549,108.55
Local education surcharge
68,096,495.33
224,744,102.49
Environmental protection tax
7,447,629.31
6,381,089.55
Renewable energy development fund
29,059,130.14
21,651,334.53
Water conservancy construction fund
6,176,976.94
4,675,267.19
Total
3,918,394,840.31
12,748,131,455.62

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42. Administrative expenses
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Employee compensation
227,310,866.40
191,387,950.72
Office expenses
38,014,613.26
41,443,666.62
Depreciation and amortization expense
130,988,542.34
133,685,404.20
Insurance premium
58,600,225.66
56,591,532.93
Business entertainment expenses
5,655,336.16
9,292,968.52
Other
29,329,330.87
34,420,354.02
Total
489,898,914.69
466,821,877.01
43. Selling expenses
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Employee compensation
59,821,843.65
57,339,546.73
Sales business expenses
2,991,191.80
2,095,862.18
Other
23,859,877.18
24,857,935.25
Total
86,672,912.63
84,293,344.16
44. R&D expenses
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Direct expenditures
1,587,472,324.32
1,705,509,902.92
Depreciation and amortization
484,114,845.91
347,075,587.62
Employee compensation
166,139,146.45
275,138,926.71
Equipment commissioning fee
3,332,751.71
6,088,072.49
Others
1,483,306.20
35,279,205.42
Total
2,242,542,374.59
2,369,091,695.16
45. Financial expenses
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Interest expense
3,190,639,179.06
3,280,153,933.32
Interest income
-135,999,098.06
-222,591,881.34
Exchange gain or loss
-126,066,415.03
1,363,537.16

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Other
103,138,549.72
151,030,675.77
Total
3,031,712,215.69
3,209,956,264.91
46. Other income
Unit: RMB
Sources of other income
The amount incurred in the current
period
Amount incurred in the previous
period
Government grants related to assets
18,139,078.98
13,637,139.38
Government grants related to income
13,985,643.04
401,568,707.90
Return of fees for withheld individual
income tax
4,447,858.20
4,155,049.74
Additional VAT credits and exemptions
762,840,634.64
644,538,133.02
Other
1,402,325.20
938,426.37
Total
800,815,540.06
1,064,837,456.41
47. Gains on changes in fair value
Unit: RMB
Sources of income from changes in fair
value
The amount incurred in the current
period
Amount incurred in the previous
period
Trading financial liabilities

-243,925,361.38
Derivative financial assets
-49,884,736.65
37,473,544.84
Derivative financial liabilities
-242,510,513.90
-93,269,592.68
Total
-292,395,250.55
-299,721,409.22
48. Investment income
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Long-term equity investment income
calculated by equity method
446,204,831.98
190,297,833.77
Financing discount loss of receivables
-16,978,566.36
-3,056,076.31
Interest income from related party
lending
153,396.22
176,094.32
Investment income from disposal of
financial assets
-67,008,150.12
96,628,799.97
Investment income from wealth
management products
143,013.70

Total
362,514,525.42
284,046,651.75
49. Credit impairment loss
Unit: RMB

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Item
The amount incurred in the current
period
Amount incurred in the previous
period
Bad debt losses
18,584,617.97
87,104,774.79
Total
18,584,617.97
87,104,774.79
50. Asset impairment loss
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Loss on inventory write-down
-1,070,657.02
-152,150,594.56
Total
-1,070,657.02
-152,150,594.56
51. Income from asset disposal
Unit: RMB
Sources of asset disposal income
The amount incurred in the current
period
Amount incurred in the previous
period
Income from disposal of fixed assets
7,357,324.96
-64,124.27
52. Non-operating income
Unit: RMB
Item
The amount incurred in the
current period
Amount incurred in the
previous period
Amount included in non-
recurring profit or loss of
the current period
Liquidated damages and
income from compensation
4,238,296.24
3,232,472.57
4,238,296.24
Others
221,559.31
666,376.43
221,559.31
Total
4,459,855.55
3,898,849.00
4,459,855.55
53. Non-operating expenses
Unit: RMB
Item
The amount incurred in the
current period
Amount incurred in the
previous period
Amount included in non-
recurring profit or loss of
the current period
External donations
4,500,000.00
4,000,000.00
4,500,000.00
Loss on damage and
scrapping of non-current
assets
1,625,694.77
2,486,853.31
1,625,694.77
Compensation payments,
fines and late-payment
surcharges
334,938.70
8,747,499.44
334,938.70
Other
35,559.37
242,290.81
35,559.37
Total
6,496,192.84
15,476,643.56
6,496,192.84

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54. Income tax expenses
(1) Presentation of income tax expenses
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Income tax expenses in the current period
1,581,955,235.70
142,723,502.07
Deferred income tax expenses
17,955,097.85
35,594,286.30
Total
1,599,910,333.55
178,317,788.37
(2) Adjustment of accounting profit and income tax expense
Unit: RMB
Item
The amount incurred in the current period
Profit before tax
10,859,732,454.79
Income tax expense calculated at the statutory/applicable tax
rate
2,714,933,113.70
Impact of different tax rates applied on subsidiaries
-993,823,659.48
Effect of adjustments to income tax in respect of prior periods
213,364.85
Influence of non-taxable income
-45,715,406.32
Impact of non-deductible costs, expenses and losses
47,363,676.55
Impact of using tax losses available for deduction on deferred
income tax assets unrecognized in prior periods
-912,665.94
Impact of temporary deductible difference or tax losses
available for deduction on deferred income tax assets
unrecognized in the current period
39,183,470.33
Impact of R&D cost plus deduction
-161,331,560.14
Income tax expenses
1,599,910,333.55
55. Other comprehensive income
Refer to Note in V (I) 36 for details.
56. Cash flow statement items
(1) Cash related to operating activities
Other cash received related to operating activities
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Recovery of deposits for bills, letters of
credit, etc.
465,251,966.61
946,130,946.82
Temporary borrowings received from
Zhejiang Rongsheng Holding Group Co.,
Ltd.
1,699,842,249.70


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Interest income received on bank
deposits
136,748,474.61
222,591,881.35
Recovery of operating deposits and
security deposits
228,196,586.49
500,536,662.41
Government grants received
583,604,269.26
1,168,356,849.18
Other
107,726,319.22
77,479,188.12
Total
3,221,369,865.89
2,915,095,527.88
Other cash paid related to operating activities
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Payment of bills, letters of credit and
other deposits
250,769,186.73
718,529,832.90
Repayment of temporary borrowings to
Zhejiang Rongsheng Holding Group Co.,
Ltd.
1,699,842,249.70

Cash disbursements from administrative
expenses, R&D expenses and sales
expenses
211,066,789.21
324,385,018.05
Payment of bank charges
101,694,937.93
140,468,419.35
Payment of operating deposit and
security deposit
131,188,904.95
152,596,821.33
Other
331,837,377.23
215,285,078.15
Total
2,726,399,445.75
1,551,265,169.78
(2) Cash related to investing activities
Other cash received related to investing activities
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Recovery of bills, letters of credit and
other deposits
13,287,510.70
20,810,762.77
Deposits received for construction
projects and project bidding or auctions
21,968,125.00
12,466,400.00
Interest received on temporary loans to
ZPC-ENN (Zhoushan) Gas Co., Ltd.
162,600.00
186,660.00
Total
35,418,235.70
33,463,822.77

Other cash paid related to investing activities
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Payment of deposits related to
construction and project bidding or
auctions
14,590,050.00
17,692,600.00

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Payment of deposits for bills, letters of
credit, etc.

19,592,872.76
Total
14,590,050.00
37,285,472.76
(3) Cash related to financing activities
Other cash received related to financing activities
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Temporary borrowings received from
Zhejiang Rongsheng Holding Group Co.,
Ltd.
4,670,000,000.00
3,030,000,000.00
Recovery leased silver deposit

949,022,591.65
Recovery of borrowing deposit
142,500,000.00
132,500,000.00
Proceeds received from discounted but
not yet due letters of credit and bills
585,873,542.99
8,317,753,820.39
Funds received under the employee stock
ownership plan
413,040,000.00

Total
5,811,413,542.99
12,429,276,412.04

Other cash paid related to financing activities
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Repayment of temporary borrowings to
Zhejiang Rongsheng Holding Group Co.,
Ltd.
2,934,428,550.61
793,685,359.55
Payment of financing fees
987,029.85
6,495,620.57
Payments for right-of-use assets
24,545,564.88
15,826,686.80
Payment of borrowing deposits
250,000,000.00

Payment of silver lease deposits

276,441,966.24
Total
3,209,961,145.34
1,092,449,633.16
Changes in liabilities arising from financing activities
R Applicable □ Not applicable
Unit: RMB 10,000
Item
Opening Balance
Increase – Cash
Changes
Increase – Non-
cash Changes
Decrease –
Cash Changes
Decrease –
Non-cash
Changes
Closing
Balance
Bank
borrowings
20,808,184.44
8,182,873.08
404,199.69
7,415,808.94

21,979,448.27
Other
payables –
temporary
borrowings
from
Zhejiang
Rongsheng
741,856.39
467,000.00
6,056.13
293,442.86

921,469.66

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Holding
Group Co.,
Ltd.
Other
payables –
dividends
payable


171,125.92
95,722.92

75,403.00
Lease
liabilities
(including
lease
liabilities
due within
one year)
4,035.21

5,118.17
2,454.56

6,698.82
Total
21,554,076.04
8,649,873.08
586,499.91
7,807,429.28

22,983,019.75

57. Supplementary information on cash flow statement
(1) Supplementary information of Cash Flow Statement
Unit: RMB
Supplementary information
Current amount
Amount of prior period
1. Converting net profit into cash flow
from operating activities:


Net profit
9,259,822,121.24
1,666,253,533.02
Add: Provisions for asset impairment
1,070,657.02
152,150,594.56
Credit impairment losses
-18,584,617.97
-87,104,774.79
Depreciation of fixed assets and right-of-
use assets / depletion of oil and gas
assets, and depreciation of productive
biological assets
10,700,311,139.98
8,315,750,503.06
Amortization of intangible assets
90,683,840.09
98,211,783.04
Amortization of long-term deferred
expenses
44,174.98

Loss on disposal of fixed assets,
intangible assets and other long-term
assets (gains are indicated by “-”)
-7,357,324.96
64,124.27
Loss on retirement of fixed assets (gains
are indicated by “-”)
1,625,694.77
2,486,853.31
Loss from changes in fair value (gains
are indicated by “-”)
292,395,250.55
299,721,409.22
Finance costs (gains are indicated by “-”)
3,065,644,080.75
3,200,618,546.85
Investment losses (gains are indicated by
“-”)
-362,514,525.42
-284,046,651.75
Decrease in deferred tax assets (increases
are indicated by “-”)
103,044,187.43
-103,479,148.73
Increase in deferred tax liabilities
(decreases are indicated by “-”)
-85,089,089.58
139,073,435.03
Decrease in inventories (increases are
indicated by “-”)
1,545,375,962.05
-5,047,811.25

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Decrease in operating receivables
(increases are indicated by “-”)
-399,086,624.68
-1,269,368,564.74
Increase in operating payables (decreases
are indicated by “-”)
-3,007,338,236.68
-4,604,242,244.15
Other
74,030,864.08
65,583,666.73
Net cash flow from operating activities
21,254,077,553.64
7,586,625,253.68
2. Significant investment and financing
activities not involving cash receipts and
payments:


Conversion of debt into capital


Convertible corporate bonds maturing
within one year


Fixed assets acquired under finance
leases


3. Net change in cash and cash
equivalents:


Ending balance of cash
23,166,235,138.67
14,021,968,092.19
Less: Beginning balance of cash
12,868,997,873.44
12,943,832,335.45
Add: Ending balance of cash equivalents


Less: Beginning balance of cash
equivalents


Net increase in cash and cash equivalents
10,297,237,265.23
1,078,135,756.74
(2) Composition of cash and cash equivalents
Unit: RMB
Item
Ending balance
Beginning balance
I. Cash
23,166,235,138.67
12,868,997,873.44
Including: cash on hand
1,413,280.19
1,356,245.56
Bank deposits available for payment at
any time
22,093,340,239.81
12,149,371,258.16
Other monetary funds available on
demand
1,023,481,618.67
718,270,369.72
II. Cash equivalents


III. Ending balance of cash and cash
equivalents
23,166,235,138.67
12,868,997,873.44
(3) Monetary funds that are not cash and cash equivalents
Unit: RMB
Item
Amount at end of the
period
Amount at beginning of
the period
Reasons for not cash and cash
equivalents
Bank acceptance bill deposit
79,929,216.35
273,168,500.57
These are all deposits for related
businesses and are subject to
restrictions on use.
L/C deposit
189,001,785.76
214,053,200.39
Security deposits for
borrowings
250,000,000.00
132,500,000.00

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Guarantee deposit
1,470,312.71
1,470,312.71
ETC deposit

15,000.00
ETC funds
Bank deposit

9,464,591.73
Funds subject to assisted enforcement
Bank deposit
48,000,000.00

Funds in transit
Total
568,401,314.82
630,671,605.40

58. Foreign currency monetary items
(1) Monetary items in foreign currency
Unit: RMB
Item
Ending balance in foreign
currencies
Conversion exchange rate
Ending balance in RMB
Monetary fund


7,151,315,585.73
Including: USD
1,042,708,659.95
6.8109
7,101,784,412.05
EUR
4,738,092.62
7.7671
36,801,239.16
HKD
395,712.36
0.8686
343,695.97
SGD
2,354,569.76
5.2605
12,386,214.20
GBP
2.70
9.0145
24.34
Accounts receivable


696,645,773.98
Including: USD
102,283,952.78
6.8109
696,645,773.98
Long-term borrowings


298,220,980.00
Including: EUR
38,395,408.84
7.7671
298,220,980.00
Other receivables


353,847,681.78
Including: USD
51,576,630.58
6.8109
351,283,273.22
SGD
487,483.81
5.2605
2,564,408.56
Other payables


193,833,084.62
Including: USD
28,443,033.74
6.8109
193,722,658.48
SGD
20,991.57
5.2605
110,426.14
Accounts payable


4,726,795,746.37
Including: USD
686,592,833.30
6.8109
4,676,315,128.32
EUR
5,712,371.63
7.7671
44,368,561.69
GBP
678,025.00
9.0145
6,112,056.36
Non-current liabilities due
within one year


53,257,865.75
Including: SGD
675,671.32
5.2605
3,554,368.98
EUR
6,399,234.82
7.7671
49,703,496.77
(2) Description of the overseas operating entity, including important overseas operating entity, shall
disclose its main overseas business place, functional currency and the basis for selection, and shall also
disclose reasons in the case of changes in functional currency.
RApplicable □ Not applicable

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Company name
Place of
registration
Functional
currency
Selection basis
Hong Kong Shenghui Co., Ltd.
Hong Kong, China
USD
General settlement currency
for company operation
Hong Kong Yisheng Dahua Petrochemical Co., Ltd.
Hong Kong, China
Yisheng New Materials Trading Co., Ltd.
Hong Kong, China
Rongsheng Petrochemical (Hong Kong) Co., Ltd.
Hong Kong, China
Rongsheng Petrochemical (Singapore) Pte. Ltd.
Singapore
Zhejiang Petroleum & Chemical (Singapore) Pte. Ltd.
Singapore
Rongtong Logistics (Singapore) Pte. Ltd.
Singapore
59. Lease
(1) The Company as the lessee
RApplicable □ Not applicable
Variable lease payments not included in the measurement of lease liabilities
□ Applicable R Not applicable
Simplified treatment of short-term leases or rental expenses of low-value assets
RApplicable □ Not applicable
1) Please refer to Note VII. 13 of these financial statements for information about the right-of-use assets.
2) Accounting policies of short-term leases and low-value asset leases of the Company are detailed in note V.
30 of these financial statements. The amounts of short-term lease expense and low-value asset lease expense
included in the current profit or loss are as follows:
Unit: RMB
Item
Amount in the current period
Amount in the previous
period
Short-term lease expense
12,706,520.62
14,257,090.92
Total
12,706,520.62
14,257,090.92
3) Current profit or loss and cash flow related to leasing
Unit: RMB
Item
Amount in the current period
Amount in the previous period
Interest expense on lease liabilities
463,178.64
3,863,755.25
Total cash outflow related to leasing
34,376,692.16
15,936,527.01
4) The maturity analysis of lease liabilities and the corresponding liquidity risk management are detailed in
Note XII. 1. (2) of these financial statements.
(2) The Company as the lessor
Operating lease as lessor
RApplicable □ Not applicable

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1) Leasing revenue
Unit: RMB
Item
Amount in the current period
Amount in the previous period
Leasing revenue
9,030,760.39
3,844,639.80
Total
9,030,760.39
3,844,639.80
2) Operating leasing assets
Unit: RMB
Item
Amount at the end of the period
Amount at the beginning of the period
Intangible Assets
38,280,713.01
38,962,413.71
Investment Properties
9,716,959.60
9,852,682.60
Subtotal
47,997,672.61
48,815,096.31

Financial lease as lessor
□ Applicable R Not applicable
Undiscounted lease receipts for each of the next five years
RApplicable □ Not applicable
Unit: RMB
Item
Undiscounted annual lease receivables
Ending amount
Beginning amount
Year 1
2,137,089.00
2,137,089.00
Year 2
2,137,089.00
2,137,089.00
Year 3
2,137,089.00
2,137,089.00
Year 4
2,154,898.00
2,137,089.00
Year 5
2,208,325.00
2,172,707.00
Total amount of undiscounted lease
receipts after five years
7,853,800.50
8,975,772.00
(3) Recognition of the profit and loss of financial leasing sales as a manufacturer or distributor
□ Applicable R Not applicable
60. Others
Supplier financing arrangements
(1) Terms and conditions of supplier financing arrangements
Unit: RMB
Bank
Loan amount
Borrowing date
Payment due date
Guarantor

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China Construction Bank
Corporation, Xiaoshan Sub-
branch
345,000,000.00
2026.01.12-
2026.02.09
2026.12.15-
2026.12.21
Zhejiang Rongsheng
Holding Group Co.,
Ltd.
China Minsheng Bank Corp.,
Ltd., Ningbo Haishu Sub-
branch
1,192,268.88
2026.01.26
2027.01.21
Zhejiang Rongsheng
Holding Group Co.,
Ltd.
Bank of China Limited,
Zhejiang Branch
20,000,000.00
2026.03.18-
2026.03.19
2027.03.16
Zhejiang Rongsheng
Holding Group Co.,
Ltd.
Agricultural Bank of China
Limited, Ningbo Xiepu Sub-
branch
150,000,000.00
2026.02.09
2027.02.02
Zhejiang Rongsheng
Holding Group Co.,
Ltd.
(2) Liability details related to supplier financing arrangements
1) Book value of related liabilities
Unit: RMB
Item
Amount by the end of
the period
Amount at the beginning
of the period
Short-term borrowings
516,192,268.88
219,897,401.20
Including: Amounts already received by suppliers
516,192,268.88
219,897,401.20
Subtotal
516,192,268.88
219,897,401.20
2) Payment due date ranges for related liabilities
Unit: RMB
Item
Due date range of payment at
the end of the period
Due date range of payment at the
beginning of the period
Liabilities classified under financing arrangements
2026.12.15-2027.03.16
2026.01.13-2026.06.03
3) Non-cash changes in related liabilities
Unit: RMB
Non-cash change type
Amount in the current period
Amount in the previous period
Reclassification from accounts payable to
short-term borrowings
516,192,268.88
219,897,401.20
VIII. R&D expenditure
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Direct expenditures
1,587,472,324.32
1,705,509,902.92
Depreciation and amortization
484,114,845.91
347,075,587.62
Employee compensation
166,139,146.45
275,138,926.71
Equipment commissioning expenses
3,332,751.71
6,088,072.49
Others
1,483,306.20
35,279,205.42
Total
2,242,542,374.59
2,369,091,695.16

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Including: expensed R&D expenditure
2,242,542,374.59
2,369,091,695.16

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IX. Changes in the Scope of Consolidation
1. Changes in consolidation scope for other reasons
Decrease in consolidation scope
Company name
Method of equity disposal
Date of
disposal
Net assets on
the disposal
date
Profit from
beginning of
the period to
disposal date
Ningbo Yisheng Chemicals Co., Ltd.
Industrial and commercial
deregistration
Feb 5, 2026



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X. Interests in other entities
1. Rights and interests in subsidiaries
(1) Group composition
Unit: RMB10,000, unless otherwise stated
Name of subsidiary
Registered capital
Principal place of
business
Place of registration
Business nature
Shareholding ratio
Method of
acquisition
Direct
Indirect
Zhejiang Shengyuan Chemical
Fiber Co., Ltd.
200,000.00
Xiaoshan, Zhejiang
Xiaoshan, Zhejiang
Manufacturing
100.00%

Establishment
Zhejiang Shenghui New Materials
Co., Ltd.
2,000.00
Xiaoshan, Zhejiang
Xiaoshan, Zhejiang
Manufacturing
100.00%

Establishment
Hong Kong Shenghui Co., Ltd.
USD 19,700,000.00
Hong Kong, China
Hong Kong, China
Commercial
100.00%

Business
combination
under
common
control
Dalian Yisheng Investment Co.,
Ltd.
201,800.00
Dalian, Liaoning
Dalian, Liaoning
Manufacturing
70.00%

Establishment
Yisheng Dahua Petrochemical Co.,
Ltd.
245,645.00
Dalian, Liaoning
Dalian, Liaoning
Manufacturing

84.60%
Establishment
Hong Kong Yisheng Dahua
Petrochemical Co., Ltd.
USD 100,000.00
Hong Kong, China
Hong Kong, China
Commercial

100.00%
Establishment
Dalian Rongxincheng Trading Co.,
Ltd.
1,000.00
Dalian, Liaoning
Dalian, Liaoning
Commercial

100.00%
Establishment
Zhejiang Rongtong Chemical Fiber
New Material Co., Ltd.
5,000.00
Xiaoshan, Zhejiang
Xiaoshan, Zhejiang
Commercial

100.00%
Establishment
Zhejiang Rongyi Chemical Fiber
Co., Ltd.
1,000.00
Shaoxing, Zhejiang
Shaoxing, Zhejiang
Commercial

100.00%
Establishment
Dalian Yisheng New Materials Co.,
Ltd.
2,000.00
Dalian, Liaoning
Dalian, Liaoning
Manufacturing

100.00%
Establishment
Ningbo Zhongjin Petrochemical
Co., Ltd.
600,000.00
Ningbo, Zhejiang
Ningbo, Zhejiang
Manufacturing
100.00%

Business
combination
under

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common
control
Ningbo Niluoshan New Energy
Co., Ltd.
36,000.00
Ningbo, Zhejiang
Ningbo, Zhejiang
Manufacturing

100.00%
Establishment
Zhejiang Yisheng New Materials
Co., Ltd.
300,000.00
Ningbo, Zhejiang
Ningbo, Zhejiang
Manufacturing

51.00%
Business
combination
not under
common
control
Ningbo Rongxincheng Trading Co.,
Ltd.
1,000.00
Ningbo, Zhejiang
Ningbo, Zhejiang
Commercial

100.00%
Establishment
Yisheng New Materials Trading
Co., Ltd.
HKD 1,000,000.00
Hong Kong, China
Hong Kong, China
Commercial

100.00%
Establishment
Zhejiang Rongyi Trading Co., Ltd.
1,000.00
Ningbo, Zhejiang
Ningbo, Zhejiang
Commercial

100.00%
Establishment
Rongsheng Petrochemical
(Singapore) Pte. Ltd.
USD
101,000,000.00
Singapore
Singapore
Commercial
100.00%

Establishment
Rongtong Logistics (Singapore)
Pte. Ltd.
USD 1.00
Singapore
Singapore
Commercial

100.00%
Establishment
Rongsheng Petrochemical (Hong
Kong) Co., Ltd.
USD 100,000.00
Hong Kong
Hong Kong
Commercial
100.00%

Establishment
Rongsheng Petrochemical Sales
Co., Ltd.
10,000.00
Xiaoshan, Zhejiang
Xiaoshan, Zhejiang
Commercial
100.00%

Establishment
Zhejiang Petroleum & Chemical
Co., Ltd.
5,880,000.00
Zhoushan, Zhejiang
Zhoushan, Zhejiang
Manufacturing
51.00%

Business
combination
not under
common
control
ZPC Zheyou Technology Co., Ltd.
41,220.00
Zhoushan, Zhejiang
Zhoushan, Zhejiang
Manufacturing

70.00%
Establishment
Zhejiang Petroleum & Chemical
(Singapore) Pte. Ltd.
USD 100,000.00
Singapore
Singapore
Commercial

100.00%
Establishment
ZPC Jintang Logistics Co., Ltd.
200,000.00
Zhoushan, Zhejiang
Zhoushan, Zhejiang
Commercial

100.00%
Establishment
Zhejiang ZPC Sales Co., Ltd.
10,000.00
Xiaoshan, Zhejiang
Xiaoshan, Zhejiang
Commercial

100.00%
Establishment
Zhoushan ZPC Sales Co., Ltd.
6,000.00
Zhoushan, Zhejiang
Zhoushan, Zhejiang
Commercial

100.00%
Establishment
Zhoushan ZPC Trading Co., Ltd.
6,000.00
Zhoushan, Zhejiang
Zhoushan, Zhejiang
Commercial

100.00%
Establishment
Ningbo ZPC Sales Co., Ltd.
1,000.00
Ningbo, Zhejiang
Ningbo, Zhejiang
Commercial

100.00%
Establishment

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Taizhou ZPC Sales Co., Ltd.
1,000.00
Taizhou, Zhejiang
Taizhou, Zhejiang
Commercial

100.00%
Establishment
ZPC (Zhejiang Free Trade Zone)
Green Petrochemical Research
Institute Co., Ltd.
10,000.00
Zhoushan, Zhejiang
Zhoushan, Zhejiang
Commercial

100.00%
Establishment
Zhejiang ZPC Power Generation
Co., Ltd.
10,000.00
Zhoushan, Zhejiang
Zhoushan, Zhejiang
Manufacturing

100.00%
Establishment
Zhoushan ZPC Logistics Co., Ltd.
1,000.00
Zhoushan, Zhejiang
Zhoushan, Zhejiang
Road transportation

100.00%
Establishment
ZPC New Materials (Zhoushan)
Co., Ltd.
5,000.00
Zhoushan, Zhejiang
Zhoushan, Zhejiang
Manufacturing

100.00%
Establishment
Rongxiang Chemical Fiber Co.,
Ltd.
20,000.00
Xiaoshan, Zhejiang
Xiaoshan, Zhejiang
Manufacturing
100.00%

Establishment
Zhejiang Yongsheng Technology
Co., Ltd.
102,000.00
Shaoxing, Zhejiang
Shaoxing, Zhejiang
Manufacturing
70.00%

Business
combination
not under
common
control
Hainan Rongsheng International
Trade Co., Ltd.
10,000.00
Danzhou, Hainan
Danzhou, Hainan
Commercial
100.00%

Establishment
Rongsheng Chemicals (Shanghai)
Co., Ltd.
5,000.00
Shanghai, China
Shanghai, China
Commercial
100.00%

Establishment
Rongsheng New Materials
(Zhoushan) Co., Ltd.
1,000,000.00
Zhoushan, Zhejiang
Zhoushan, Zhejiang
Manufacturing
100.00%

Establishment
Rongsheng New Materials
(Taizhou) Co., Ltd.
100,000.00
Taizhou, Zhejiang
Taizhou, Zhejiang
Manufacturing
90.00%

Establishment
(2) Major non-wholly owned subsidiaries
Unit: RMB 10,000
Name of subsidiary
Shareholding ratio of
minority shareholders
Profit or loss attributable to
minority shareholders in the
current period
Dividend announced to be
distributed to minority
shareholders in the current period
Ending balance of
minority equity
Dalian Yisheng Investment Co., Ltd.
30.00%
10,406.42
60,000.00
144,921.58
Yisheng Dahua Petrochemical Co., Ltd.
15.40%
3,167.78
15,403.00
86,688.07
Zhejiang Yisheng New Materials Co., Ltd.
49.00%
-7,411.60

63,313.42

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Zhejiang Petroleum & Chemical Co., Ltd.
49.00%
408,713.57

5,355,344.42

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(3) Main financial information of important partially-owned subsidiaries
Unit: RMB
Name of
subsidiary
Ending balance
Beginning balance
Current
assets
Non-
current
assets
Total assets
Current
liabilities
Non-current
liabilities
Total
liabilities
Current
assets
Non-
current
assets
Total assets
Current
liabilities
Non-
current
liabilities
Total
liabilitie
s
Dalian
Yisheng
Investment
Co., Ltd.
8,489,932
,774.72
10,244,647,
768.43
18,734,580,
543.15
11,097,495,
247.70
2,129,187,449
.79
13,226,682,69
7.49
4,828,225,707
.65
10,297,683,
849.21
15,125,909,
556.86
6,185,365,8
69.57
1,611,043,7
57.86
7,796,40
9,627.43
Yisheng
Dahua
Petrochem
ical Co.,
Ltd.
10,324,37
8,075.80
6,588,758,2
56.41
16,913,136,
332.21
9,942,816,4
66.63
2,129,187,449
.79
12,072,003,91
6.42
6,662,541,224
.93
6,787,695,0
79.30
13,450,236,
304.23
6,184,445,4
82.27
1,611,043,7
57.86
7,795,48
9,240.13
Zhejiang
Yisheng
New
Materials
Co., Ltd.
3,309,284
,285.93
7,800,910,2
62.50
11,110,194,
548.43
7,778,710,1
78.53
2,034,934,676
.74
9,813,644,855
.27
2,412,364,347
.49
8,064,191,8
62.92
10,476,556,
210.41
6,732,532,8
13.86
2,295,362,7
94.40
9,027,89
5,608.26
Zhejiang
Petroleum
&
Chemical
Co., Ltd.
36,582,68
7,904.06
263,049,225
,361.65
299,631,913
,265.71
91,161,572,
401.23
99,824,224,68
7.68
190,985,797,0
88.91
34,394,733,04
0.39
260,023,682
,707.64
294,418,415
,748.03
98,133,887,
242.09
95,987,210,
927.65
194,121,
098,169.
74
Unit: RMB
Name of
subsidiary
The amount incurred in the current period
Amount incurred in the previous period
Operating income
Net profit
Total
comprehensive
income
Cash flow from
operating
activities
Operating income
Net profit
Total
comprehensive
income
Cash flow from
operating
activities
Dalian Yisheng
Investment Co., Ltd.
10,839,368,728.87
378,558,558.05
332,427,916.23
393,448,366.12
11,336,267,268.64
9,152,059.05
-1,190,745.88
-713,331,972.64
Yisheng Dahua
Petrochemical Co.,
Ltd.
10,839,368,728.87
205,659,791.09
186,385,351.69
393,579,890.32
11,336,267,268.64
6,914,847.30
2,912,347.97
-713,283,182.32

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Zhejiang Yisheng
New Materials Co.,
Ltd.
13,968,459,165.41
-149,454,990.62
-152,110,908.99
539,254,158.04
13,829,765,424.89
30,312,959.89
29,760,762.98
279,302,052.37
Zhejiang Petroleum
& Chemical Co.,
Ltd.
93,521,443,932.63
8,274,620,399.5
7
8,274,643,708.99
12,656,271,685.7
9
120,796,087,799.23
2,132,256,063.54
2,132,259,180.50
17,437,463,986.3
2

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2. Interests in joint ventures and associates
(1) Important joint ventures or associates
Name of the joint venture or associate
Principal place of
business
Place of
registration
Business nature
Shareholding ratio
Accounting method for
investments in joint ventures
and associates
Direct
Indirect
Zhejiang Yisheng Petrochemical Co., Ltd.
Ningbo, Zhejiang
Ningbo, Zhejiang
Manufacturing
16.07%
13.93%
Accounting by the equity method
Hainan Yisheng Petrochemical Co., Ltd.
Yangpu, Hainan
Yangpu, Hainan
Manufacturing

50.00%
Accounting by the equity method
Zhejiang Xiaoshan Rural Commercial Bank
Co., Ltd.
Xiaoshan, Zhejiang
Xiaoshan, Zhejiang
Finance
9.712%

Accounting by the equity method
Basis for one having voting rights of below 20% and significant influences or one having voting rights of 20% or above but no significant influences:
The company holds 9.712% of the shares of Zhejiang Xiaoshan Rural Commercial Bank Co., Ltd. and has a representative on the board of Directors of the
company, who has the substantive right to participate in decision-making. The representative can participate in the formulation of financial and operating policies of
Zhejiang Xiaoshan Rural Commercial Bank Co., Ltd., so as to exert significant influence on it.
(2) Main financial information of important associate
Unit: RMB

Ending balance/amount incurred in the current period
Beginning balance/amount incurred in the prior period
Zhejiang Yisheng
Petrochemical Co., Ltd.
Hainan Yisheng
Petrochemical Co., Ltd.
Zhejiang Xiaoshan
Rural Commercial Bank
Co., Ltd.
Zhejiang Yisheng
Petrochemical Co., Ltd.
Hainan Yisheng
Petrochemical Co., Ltd.
Zhejiang Xiaoshan
Rural Commercial Bank
Co., Ltd.
Current assets
19,452,900,619.42
11,917,524,003.99
286,455,123,667.08
17,792,530,387.01
9,484,789,190.11
282,557,537,423.38
Non-current
assets
2,194,925,361.16
10,568,051,970.15
134,425,321,617.37
2,388,584,085.75
10,913,624,377.07
127,813,706,940.77
Total assets
21,647,825,980.58
22,485,575,974.14
420,880,445,284.45
20,181,114,472.76
20,398,413,567.18
410,371,244,364.15
Current
liabilities
13,392,129,167.86
11,578,871,981.46
364,006,042,864.81
9,823,745,603.06
9,172,781,271.47
356,324,163,029.04
Non-current
liabilities
1,984,309,389.54
3,785,473,797.02
25,915,586,425.47
1,159,026,774.00
4,396,203,584.26
24,786,420,361.14
Total liabilities
15,376,438,557.40
15,364,345,778.48
389,921,629,290.28
10,982,772,377.06
13,568,984,855.73
381,110,583,390.18

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Minority equity


238,697,259.22


228,973,456.82
Shareholders'
equity
attributable to
the parent
company
6,271,387,423.18
7,121,230,195.66
30,720,118,734.95
9,198,342,095.70
6,829,428,711.45
29,031,687,517.15
Share of net
assets
calculated by
the
shareholding
ratio
1,881,416,226.95
3,560,615,097.83
2,983,537,931.54
2,759,502,628.71
3,414,714,355.73
2,819,557,491.67
Adjustments






- Goodwill

102,420,730.97
4,040,414.35

102,420,730.97
4,040,414.35
- Unrealized
profit from
internal
transactions

-5,318,299.76


-6,347,633.17

- Others
11,273,596.92
-1,029,333.42
62,557.97
11,273,596.89

65,923.99
Book value of
equity
investment in
associate
1,892,689,823.87
3,656,688,195.63
2,987,640,903.86
2,770,776,225.62
3,510,787,453.52
2,823,663,830.01
Fair value of
equity
investment in
associate with
the public offer






Operating
income
13,342,507,623.02
16,492,518,689.80
3,631,129,283.10
12,398,241,720.04
15,031,996,594.13
3,581,957,831.75
Net profit
80,070,076.99
345,513,889.05
1,883,608,620.77
126,520,376.17
1,333,455.86
1,795,647,866.84
Net profit from
termination of
operation







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Other
comprehensive
income
-7,024,749.51
-53,712,404.84
269,209,048.64
177,810.84
-12,680,611.20
-450,524,766.61
Total
comprehensive
income
73,045,327.48
291,801,484.21
2,152,817,669.41
126,698,187.01
-11,347,155.34
1,345,123,100.23
Dividends
received from
associates in
the current year


43,654,510.65


43,654,510.65

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(3) Summarized financial information of individually immaterial joint ventures and associates
Unit: RMB

Ending balance/amount incurred in
the current period
Beginning balance/amount incurred in
the prior period
Joint ventures:


Total of the following items calculated as
per the respective shareholding proportion


Associates


Total book value of investments
908,987,192.02
658,979,703.08
Total of the following items calculated as
per the respective shareholding proportion


- Net profit
67,940,324.23
-21,942,494.89
- Other comprehensive income
-8,056,860.73
-1,902,091.68
- Total comprehensive income
59,883,463.50
-23,844,586.58
XI. Government grants
1. At the end of the reporting period, government grants recognized according to the amount receivable
R Applicable □ Not applicable
The ending balance of receivables was RMB 442,816,416.00.
Reasons for failure to receive the estimated amount of government grants at the expected time
R Applicable □ Not applicable
As of the date on which these financial statements were authorized for issue, the Company had remaining
government grants receivable of RMB 442,816,416.00 pending payment by the relevant finance authorities.
2. Liability items involving government subsidies
RApplicable □ Not applicable
Unit: RMB
Accounting
subject
Beginning
balance
Amount of
additional
subsidy in
current period
Amount
included in
current non-
operating
income
Amount carried
forward to other
income in
current period
Other
change in
current
period
Ending
balance
Related to
assets/incom
e
Deferred
income
392,706,559
.60
78,785,800.00

18,139,078.98

453,353,
280.62
Related to
assets
3. Government grants included in current profit and losses
RApplicable □ Not applicable
Unit: RMB
Accounting subject
The amount incurred in the current
period
Amount incurred in the previous
period

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Amount of government subsidies
included in other income
32,124,722.02
415,205,847.28
XII. Risks Related to Financial Instruments
1. Various risks arising from financial instruments
The objective of the Company’s risk management is to strike an appropriate balance between risks and returns,
minimize the adverse effects of risks on the Company’s operating results, and maximize the interests of shareholders
and other equity investors. Based on this objective, the Company’s basic risk management strategy is to identify
and analyze the various risks faced by the Company, establish appropriate risk tolerance thresholds, implement risk
management measures, and monitor various risks in a timely and reliable manner so as to keep them within defined
limits.
In its ordinary activities, the Company is exposed to various risks related to financial instruments, mainly
including credit risk, liquidity risk and market risk. Management has reviewed and approved the policies for
managing these risks, which are summarized below.
(I) Credit risk
Credit risk is the risk that one party to a financial instrument fails to perform its obligations, thereby causing a
financial loss to the other party.
1. Practice of credit risk management
(1) Evaluation method of credit risk
On each balance sheet date, the Company assesses whether the credit risk of relevant financial instruments has
increased significantly since initial recognition. When confirming whether the credit risks have increased
significantly since the initial recognition, the Company considers reasonable and well-founded information,
including qualitative and quantitative analysis based on historical data, external credit risk ratings and forward-
looking information, without incurring additional costs or efforts. Based on a single financial instrument or a
combination of financial instruments with similar credit risk characteristics, the Company compares the default risks
of the financial instruments on the balance sheet date with the default risks on the initial recognition date so as to
determine changes in the expected default risks of financial instruments over the expected life of the financial
instrument.
When one or more of the following quantitative and qualitative criteria is/are triggered, the Company considers
that the credit risks of financial instruments have increased significantly:
1) The quantitative criteria mainly refer to that the probability of default of the remaining duration on the
balance sheet date increases by more than a certain proportion compared with the initial recognition.
2) The qualitative criteria mainly include significant adverse changes in the debtor's business or financial
situation, and existing or expected changes in the technical, market, economic or legal environment, which will
have a significant adverse impact on the debtor's repayment ability to the Company, etc.
(2) Definition of default and credit-impaired assets
When a financial instrument meets one or more of the following conditions, the Company defines the financial
asset as a default, and its standard is consistent with the definition of credit impairment:
1) The debtor has major financial difficulties;
2) The debtor violates the binding provisions on the debtor in the contract;
3) The debtor is likely to go bankrupt or undergo another financial restructuring;

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4) For economic or contractual reasons relating to the debtor’s financial difficulty, the creditor grants
concessions to the debtor that it would not otherwise consider.
2. Measurement of expected credit loss
Key parameters for measuring expected credit loss include the probability of default (PD), loss given default
(LGD) and exposure at default (EAD). The Company has taken into account the quantitative analysis and forward-
looking information of historical statistical data (such as counterparty rating, guarantee method, collateral type and
repayment method), and established the PD, LGD and EAD models.
3. For the reconciliation between the opening balance and the closing balance of the provision for loss of
financial instruments, please see notes VII. 3 and VII. 5 of the financial statements for details.
4. Credit risk exposure and credit risk concentration
The Company’s credit risk mainly arises from monetary funds and receivables. In order to control the above
related risks, the Company has taken the following measures respectively.
(1) Monetary funds
The Company deposits its bank deposits and other monetary funds with financial institutions that have high
credit ratings and is therefore exposed to relatively low credit risk.
(2) Receivables
The Company regularly evaluates the credit of customers who trade by credit. According to the credit
evaluation results, the Company chooses to trade with recognized customers with good credit and monitors their
accounts receivable balance to ensure that the Company will not face significant bad debt risk.
Since the Company only conducts transactions with approved and creditworthy third parties, therefore, no
collateral is required. Credit risk concentration is managed by customer. As of June 30, 2026, the Company was
exposed to a certain degree of credit concentration risk, as 55.43% of the Company’s accounts receivable (December
31, 2025: 68.22%) was attributable to the five largest customers by outstanding balance. The Company did not hold
any collateral or other credit enhancements against its accounts receivable balances.
The maximum credit risk exposure of the Company is the book value of each financial asset on the balance
sheet.
(II) Liquidity risk
Liquidity risk refers to the risk of occurrence of capital shortage when the Company fulfills its obligations
settled by delivering cash or other financial assets. Liquidity risk may result from the inability to sell financial assets
at fair value as soon as possible; or because the other party is unable to repay its contractual debts; or from debts
due in advance; or from the inability to generate expected cash flow.
In order to control this risk, the Company comprehensively uses various financing means, such as bill
settlement and bank loan, and adopts the method of the appropriate combination of long-term and short-term
financing methods to optimize the financing structure, so as to maintain the balance between financing sustainability
and flexibility. The Company has obtained bank credit lines from a number of commercial banks to meet working
capital needs and capital expenditure.
Financial liabilities classified by remaining contractual maturities

Unit: RMB
Item
Ending balance
Book value
Undiscounted
contract price
Within 1 year
1-3 years
Above 3 years
Bank
loans
219,794,482,697.28
236,142,238,801.29
105,679,064,830.99
63,313,834,358.06
67,149,339,612.24

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Derivative
financial
liability
242,510,513.90
242,510,513.90
242,510,513.90


Notes
payable
1,633,752,998.56
1,633,752,998.56
1,633,752,998.56


Accounts
payable
55,022,314,319.88
55,022,314,319.88
55,022,314,319.88


Other
payables
11,733,185,071.34
11,733,185,071.34
11,733,185,071.34


Lease
liabilities
66,988,237.88
66,988,237.88
66,988,237.88


Subtotal
288,493,233,838.84
304,840,989,942.85
174,377,815,972.55
63,313,834,358.06
67,149,339,612.24
(Cont.)
Item
Amount at the beginning of the period
Book value
Undiscounted
contract price
Within 1 year
1-3 years
Above 3 years
Bank
loans
208,081,844,378.94
223,180,050,527.12
89,146,010,577.88
69,745,071,623.40
64,288,968,325.84
Derivative
financial
liability
254,957,356.99
254,957,356.99
254,957,356.99


Notes
payable
1,823,730,094.93
1,823,730,094.93
1,823,730,094.93


Accounts
payable
58,958,528,675.95
58,958,528,675.95
58,958,528,675.95


Other
payables
8,699,387,532.24
8,699,387,532.24
8,699,387,532.24


Lease
liabilities
40,352,085.93
40,844,299.63
40,844,299.63


Subtotal
277,858,800,124.98
292,957,498,486.86
158,923,458,537.62
69,745,071,623.40
64,288,968,325.84
(III) Market risk
Market risk means a risk that the fair value or future cash flow of the financial instrument fluctuates due to
changes in market price. Market risk mainly includes interest rate risk and foreign exchange risk.
1. Interest rate risk
Interest rate risk refers to the risk that the fair value of financial instruments or cash flow in the future may
fluctuate due to changes in the market interest rate. The interest-bearing financial instruments with fixed interest
rates expose the Company to fair value interest rate risk, and the interest-bearing financial instruments with floating
interest rates expose the Company to cash flow interest rate risk. The Company determines the ratio of fixed interest
rate and floating interest rate financial instruments according to the market environment, and maintains an
appropriate combination of financial instruments through regular review and monitoring. The cash flow interest rate
risk faced by the Company is mainly related to the bank borrowings with floating interest rates.
As of June 30, 2026, the Company’s floating-rate bank borrowings amounted to RMB 149,922.1099 million
and EUR 44.7946 million (December 31, 2025: RMB 152,924.5162 million and EUR 47.9943 million). Assuming
that all other variables remain unchanged, a change of 50 basis points in interest rates would not have a material
impact on the Company’s profit before tax or shareholders’ equity.
2. Foreign exchange risk

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Foreign exchange risk means a risk that the fair value or future cash flow of a financial instrument fluctuates
due to a change in the foreign exchange rate. The risk of exchange rate changes faced by the Company is mainly
related to the Company's foreign currency monetary assets and liabilities. For foreign currency assets and liabilities,
in case of short-term imbalance, the Company will buy and sell foreign currencies at the market exchange rate when
necessary to ensure that the net risk exposure is maintained at an acceptable level.
- The Company’s monetary assets and liabilities denominated in foreign currencies at the end of the period are
set out in Note VII.58(1) to these financial statements.
2. Financial assets
(1) Classification by transfer method
RApplicable □ Not applicable
Unit: RMB
Transfer method
Nature of transferred
financial assets
Amount of
transferred financial
assets
Derecognition status
Judgment basis for
derecognition
Bill discounting
Accounts receivable
financing
3,014,246,356.19
Derecognized
Substantially all risks
and rewards have been
transferred
Bill endorsement
Accounts receivable
financing
69,461,854.59
Derecognized
Substantially all risks
and rewards have been
transferred
Subtotal

3,083,708,210.78


(2) Financial assets derecognized due to transfer
RApplicable □ Not applicable
Unit: RMB
Item
Method of financial asset
transfer
Amount of derecognized
financial assets
Gains or losses related to
derecognition
Accounts receivable financing
Discounting
3,014,246,356.19
16,427,244.14
Accounts receivable financing
Endorsement
69,461,854.59

Subtotal

3,083,708,210.78
16,427,244.14
XIII. Disclosure of fair value
1. Fair value at the end of the period of assets and liabilities measured at fair value
Unit: RMB
Item
Ending fair value
Level 1 fair value
measurement
Level 2 fair value
measurement
Level 3 fair value
measurement
Total
I. Recurring fair value
measurements
--
--
--
--

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1. Derivative financial
assets
46,337,328.78
145,968,183.76

192,305,512.54
2. Receivables
financing


214,924,599.25
214,924,599.25
Total assets
continuously measured
at fair value
46,337,328.78
145,968,183.76
214,924,599.25
407,230,111.79
3. Derivative financial
liabilities
242,510,513.90


242,510,513.90
Total liabilities
measured at fair value
on a recurring basis
242,510,513.90


242,510,513.90
II. Non-recurring fair
value measurements
--
--
--
--
2. Basis for determining quoted market prices for recurring and non-recurring Level 1 fair value
measurements
The derivative financial assets and liabilities measured at Level 1 fair value held by the Company comprise
futures or paper commodity contracts outstanding at the end of the period. The related unrealized gains or losses
are determined based on their quoted market prices.
3. Valuation techniques adopted and the qualitative and quantitative information of important parameters
for recurring and non-recurring Level II fair value measurement items
The Company's derivative financial assets/liabilities measured at Level 2 fair value consist of forward foreign
exchange contracts, whose fair value is determined by the Company using the present value of the difference
between the delivery exchange rate specified in the forward foreign exchange contract and the market forward
exchange rate on the balance sheet date.
4. Valuation techniques adopted and the qualitative and quantitative information of important parameters
for recurring and non-recurring Level III fair value measurement items
The receivables financing measured at Level 3 fair value held by the Company comprises bank acceptance
bills. Given their low credit risk and short remaining maturities, the Company determines their fair value based on
their face amounts.

XIV. Related parties and related-party transactions
1. The Company's parent company
Name of parent
company
Place of
registration
Business nature
Registered capital
Proportion of the
Company's
shares held by the
parent company
Proportion of the
Company's
voting rights held
by the parent
company
Zhejiang
Rongsheng
Xiaoshan,
Zhejiang
Industrial
investment
RMB 834.6640
million
55.05%
55.05%

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193 / 214
Holding Group
Co., Ltd.
Note to information about the Company's parent company
The ultimate controlling party of the Company is Li Shuirong.
Other notes:
Li Shuirong directly holds a 6.44% equity interest in the Company. Zhejiang Rongsheng Holding Group Co., Ltd.
holds a 55.05% equity interest in the Company, and Li Shuirong holds a 63.523% equity interest in Zhejiang Rongsheng
Holding Group Co., Ltd., thereby indirectly holding a 34.97% equity interest in the Company. Accordingly, Li Shuirong
holds an aggregate equity interest of 41.41% in the Company.

2. Information on subsidiaries of the Company
See Note X for details of the Company's subsidiaries.
3. The Company's joint ventures and associates
See Note X for details of important associates or associates of the Company.
Other joint ventures and associates that form balances in related party transactions with the Company in the current
or previous period are as follows:
Name of joint venture or associate
Relation with the Company
Ningbo Hengyi Trading Co., Ltd.
Associate
ZPC-ENN (Zhoushan) Gas Co., Ltd.
Associate
Zhejiang Dingsheng Petrochemical Engineering Co., Ltd.
Associate
Ningbo Coastal Public Pipe Gallery Co., Ltd.
Associate
Zhejiang Zhenshi Port Service Co., Ltd.
Associate
Zhejiang Derong Chemicals Co., Ltd.
Associate
Zhoushan ZPC Zhougang Tugboat Co., Ltd.
Associate
Zhejiang Dongjiang Green Petrochemical Technology
Innovation Center Co., Ltd.
Associate
4. Other related parties
Name of other related parties
Relationship between other related parties and the
Company
Li Jumei
Close family member of the actual controller
Sanyuan Holding Group Co., Ltd.
Controlled by a family member close to the actual controller
Sanyuan Holding Group Hangzhou Thermal Power Co., Ltd.
Controlled by a family member close to the actual controller
Zhejiang Sanyuan Textile Co., Ltd.
Controlled by a family member close to the actual controller
Zhejiang Rongxiang Thermal Power Co., Ltd.
Under common control with the Company
Zhejiang Rongtong Logistics Co., Ltd.
Under common control with the Company
Ningbo Rongxiang Logistics Co., Ltd.
Under common control with the Company
Thermal Power Co., Ltd. of Ningbo Economic and
Technological Development Zone
Under common control with the Company

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Ningbo United Group Co., Ltd.
Under common control with the Company
Qijiashan Hotel of Ningbo United Group Co., Ltd.
Under common control with the Company
Ningbo United Group Import & Export Co., Ltd.
Under common control with the Company
Suzhou Shenghui Equipment Co., Ltd.
Under common control with the Company
Hangzhou Shengyuan Real Estate Development Co., Ltd.
Under common control with the Company
Hangzhou Shengyuan Property Service Co., Ltd.
Under common control with the Company
Ningbo Qingzhi Chemical Terminal Co., Ltd.
Under common control with the Company
Ningbo Haineng Blend Oil Co., Ltd.
Under common control with the Company
Hainan Shenggu Petrochemical Equipment Investment Co.,
Ltd.
Under common control with the Company
Hong Kong Xinhengrong Co., Ltd.
Subsidiary of Hainan Yisheng Petrochemical Co., Ltd.
Shanghai Shenglanhui Technology Co., Ltd
Associate of Hainan Shenggu Petrochemical Equipment
Investment Co., Ltd.
Hong Kong Yisheng Petrochemical Investment Co., Ltd.
Subsidiary of Zhejiang Yisheng Petrochemical Co., Ltd.
Ningbo Shengmao Trading Co., Ltd.
Subsidiary of Hong Kong Yisheng Petrochemical Investment
Co., Ltd.
Zhejiang Yixin Chemical Fiber Co., Ltd.
Subsidiary of Zhejiang Yisheng Petrochemical Co., Ltd.
Dongzhan Shipping Co., Ltd.
Associate of Zhejiang Rongtong Logistics Co., Ltd.
Aramco
Overseas Company B.V.
Shareholder
Saudi
Arabian Oil Company
Parent company of Aramco Overseas Company B.V.
Aramco Trading Singapore Pte.Ltd.
Subsidiary of Saudi Arabian Oil Company
Saudi
Basic Industries Corporation
Subsidiary of Saudi Arabian Oil Company
Aramco
Trading Company
Subsidiary of Saudi Arabian Oil Company
Aramco Trading Fujairah Fze
Subsidiary of Aramco Trading Company
SABIC (Shanghai) Trading Co., Ltd.
Subsidiary of Saudi Arabian Oil Company
Saudi Basic Industries (China) Investment Co., Ltd.
Subsidiary of Saudi Arabian Oil Company
Shanghai Huanqiu Engineering Co., Ltd.
Company where the actual controller serves as the Director
China Township Enterprises Association
Organization where the actual controller serves as a chairman
Zhuoran (Zhejiang) Integration Technology Co., Ltd.
Associate of Zhejiang Rongsheng Holding Group Co., Ltd.
5. Related party transactions
(1) Related party transactions regarding purchase and sales of goods as well as provision and acceptance of
labor services
Table of the purchasing of goods and receiving of labor services
Unit: RMB
Related party
Nature of
related party
transaction
Amount incurred
in the current
period
Approved
transaction limit
Whether the
approved
Amount incurred
in the prior period

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195 / 214
limit was
exceeded
Saudi Arabian Oil
Company
Crude oil
20,755,561,211.45
150,000,000,000.00
No
46,814,267,178.19
Aramco Trading
Singapore Pte.Ltd.
Fuel oil, gasoline,
etc.
2,083,631,713.24
No
3,864,871,275.70
Aramco Trading
Fujairah Fze
Fuel oil
516,973,940.23
No

SABIC (Shanghai)
Trading Co., Ltd.
Ethylene glycol
313,901,937.97
No
245,616,299.31
Saudi Basic
Industries (China)
Investment Co., Ltd.
Ethylene glycol
134,492,440.73
No

Ningbo Hengyi
Trading Co.,
Ltd.[Note]
PTA
3,028,506,077.36
7,000,000,000.00
No
227,721,681.41
Zhejiang Rongsheng
Holding Group Co.,
Ltd.
Coal and other
materials
2,731,141,225.11
6,000,000,000.00
No
5,363,583,841.91
Zhejiang Dingsheng
Petrochemical
Engineering Co.,
Ltd.
Plant operation
and maintenance
services and
repair services
681,062,914.83
1,500,000,000.00
No
554,834,939.32
Zhejiang Rongtong
Logistics Co., Ltd.
Freight charges
352,319,384.83
1,000,000,000.00
No
269,187,462.04
Zhejiang Rongxiang
Thermal Power Co.,
Ltd.
Steam, etc.
245,920,544.43
700,000,000.00
No
139,884,731.11
Zhejiang Derong
Chemicals Co., Ltd.
Auxiliary
materials,
processing
services, etc.
218,539,487.91
1,500,000,000.00
No
192,962,427.91
Zhejiang Yisheng
Petrochemical Co.,
Ltd.
Isophthalic acid,
etc.
162,574,097.36
400,000,000.00
No
155,427,700.41
Suzhou Shenghui
Equipment Co., Ltd.
Equipment and
materials,
installation
services
39,266,798.93
600,000,000.00
No
97,690,451.00
Zhejiang Dongjiang
Green Petrochemical
Technology
Innovation Center
Co., Ltd.
R&D design
services, etc.
4,981,132.08
400,000,000.00
No
66,886,792.45
Shanghai
Shenglanhui
Technology Co., Ltd.
Equipment and
materials
78,073,174.16
200,000,000.00
No
33,356,666.62
Zhuoran (Zhejiang)
Integration
Technology Co., Ltd.
Equipment and
materials
47,433,628.32
50,000,000.00
No
17,522,123.89
Ningbo Qingzhi
Chemicals Terminal
Co., Ltd.
Lump-sum port
operation fees,
storage fees
20,700,767.75
100,000,000.00
No
32,566,684.62
Ningbo Haineng
Blend Oil Co., Ltd.
Warehousing
services
16,599,542.18
30,000,000.00
No
16,028,152.63

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Shanghai Huanqiu
Engineering Co.,
Ltd.
Engineering
design services
7,830,432.45
20,000,000.00
No
10,616,814.16
Zhejiang Sanyuan
Textile Co., Ltd.
Workwear and
other materials
4,088,971.66
10,000,000.00
No
2,884,576.99
Thermal Power Co.,
Ltd. of Ningbo
Economic and
Technological
Development Zone
Electricity
62,246.96


58,911.23
Qijiashan Hotel of
Ningbo United
Group Co., Ltd.
Hotel services
47,666.98


61,251.88
Ningbo Rongxiang
Logistics Co., Ltd.
Freight charges

10,000,000.00
No
25,462,670.38
Sanyuan Holding
Group Hangzhou
Thermal Power Co.,
Ltd.
Steam

4,000,000.00
No
1,608,839.45
Total

31,443,709,336.92


58,133,101,472.61
Note: Of the above amount, purchases from this company of RMB 2,906.7331 million for the current period have
been presented on a net basis.

Table of sales of goods and provision of labor services
Unit: RMB
Related party
Nature of related party
transaction
Amount incurred in the
current period
Amount incurred in the
prior period
Zhejiang Yisheng Petrochemical
Co., Ltd.[Note]
PTA, PX, etc.
4,361,983,974.39
4,125,443,141.84
Ningbo Shengmao Trading Co.,
Ltd.
PX and PTA
1,643,015,652.87
84,896,025.76
Ningbo Hengyi Trading Co.,
Ltd.[Note]
PTA and PX
1,241,419,772.03
649,618,462.03
Aramco Trading Singapore Pte.
Ltd.
Diesel, crude oil, etc.
988,658,709.52
290,242,079.46
Zhejiang Derong Chemicals Co.,
Ltd.
Utilities, industrial pyrolysis
C5, etc.
439,930,780.96
277,850,733.43
Saudi Basic Industries Corporation
PTA
262,390,902.67
246,114,941.05
Zhejiang Yixin Chemical Fiber
Co., Ltd.
PTA
143,113,938.05

Hainan Yisheng Petrochemical
Co., Ltd.
PTA, PX and ethylene glycol
345,639,253.45

Rongsheng Energy (Zhoushan)
Co., Ltd.
Equipment
91,428,504.60

Zhoushan ZPC Zhougang Tugboat
Co., Ltd.
Vehicle diesel
4,492,248.81
5,190,827.52
Zhejiang Dingsheng
Petrochemical Engineering Co.,
Ltd.
Vehicle diesel
3,426,436.12
756,637.15

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Zhejiang Rongtong Logistics Co.,
Ltd.
Vehicle diesel, hardware
spare parts, PTA, etc.
1,211,938.11
12,522,879.89
Zhejiang Rongxiang Thermal
Power Co., Ltd.
Coal, electricity and diesel
563,980.13
7,784,451.12
Suzhou Shenghui Equipment Co.,
Ltd.
Vehicle diesel, etc.
47,455.72
10,619.47
Shanghai Huanqiu Engineering
Co., Ltd.
Vehicle diesel
4,424.78

Ningbo Rongxiang Logistics Co.,
Ltd.
Vehicle diesel

48,707.96
Ningbo Coastal Public Pipe
Gallery Co., Ltd.
Service fees

368,415.00
Ningbo Qingzhi Chemicals
Terminal Co., Ltd.
Warehousing services
46,229.51

Total

9,527,374,201.73
5,700,847,921.68
Note: Of the above amount, sales to these companies of RMB 2,906.7331 million for the current period have been
presented on a net basis.

(2) Related leases
The Company acts as the Lessor:
Unit: RMB
The Company acts as the Lessee:
Unit: RMB
Name of lessor
Type of leased
asset
Rental expenses for short-term leases and leases of low-
value assets on a simplified basis, if applicable
Amount incurred in the
current period
Amount incurred in the
previous period
Hangzhou Shengyuan Property Service
Co., Ltd.
Parking space
57,087.38
28,000.00
Hangzhou Shengyuan Real Estate
Development Co., Ltd.
House leasing
2,612,027.60
2,593,407.34
Zhejiang Rongsheng Holding Group Co.,
Ltd.
House leasing
550,458.72
550,458.72

(3) Related guarantees
The Company and its subsidiaries as the guaranteed party
Unit: RMB 10,000, unless stated otherwise
Name of lessee
Type of leased
asset
Lease income recognized in
the current period
Lease income recognized in
the previous period
Zhejiang Dingsheng
Petrochemical Engineering Co.,
Ltd.
House lease
20,453.16
25,729.89

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Guarantor
Guaranteed
amount
Commencement
date
Expiry date
Whether the
guarantee has been
fully performed
Sanyuan Holding Group Co., Ltd.
8,000.00
January 1, 2024
December 28,
2026
No
Zhejiang Rongsheng Holding Group Co.,
Ltd.
10,087,064.41
April 11, 2021
February 28, 2036
No
Zhejiang Rongsheng Holding Group Co.,
Ltd. and the Company
496,094.00
July 30, 2025
March 2, 2028
No
Zhejiang Rongsheng Holding Group Co.,
Ltd. [Note 1]
70,000.00
December 20,
2024
June 22, 2031
No
Zhejiang Rongsheng Holding Group Co.,
Ltd. [Note 2]
27,517.00
April 28, 2020
April 1, 2029
No
Zhejiang Rongsheng Holding Group Co.,
Ltd. [Note 3]
234,843.49
October 21, 2022
May 16, 2031
No
Zhejiang Rongsheng Holding Group Co.,
Ltd., the Company, Li Shuirong and Li
Jumei [Note 8]
1,156,297.59
July 31, 2018
July 30, 2030
No
Zhejiang Rongsheng Holding Group Co.,
Ltd. and the Company [Note 7]
2,587,612.98
January 20, 2021
November 15,
2032
No
Zhejiang Rongsheng Holding Group Co.,
Ltd. [Note 5]
928,340.75
April 22, 2024
February 15, 2033
No
Zhejiang Rongsheng Holding Group Co.,
Ltd. [Note 6]
170,500.00
August 29, 2023
March 30, 2034
No
Zhejiang Rongsheng Holding Group Co.,
Ltd. [Note 4]
1,892,145.59
November 14,
2022
October 30, 2030
No
Zhejiang Rongsheng Holding Group Co.,
Ltd.
158,213.62
January 12, 2026
November 25,
2026
No
Zhejiang Rongsheng Holding Group Co.,
Ltd.
3,991,598.09
July 10, 2025
June 29, 2027
No
Zhejiang Rongsheng Holding Group Co.,
Ltd.
EUR
18,054,000.00
January 31, 2024
May 31, 2027
No
Zhejiang Rongsheng Holding Group Co.,
Ltd.
USD
115,495,500.00
March 22, 2023
May 31, 2027
No
Zhejiang Rongsheng Holding Group Co.,
Ltd. [Note 5]
EUR
20,816,300.00
June 27, 2024
June 30, 2027
No
Zhejiang Rongsheng Holding Group Co.,
Ltd. [Note 5]
USD 846,800.00
March 24, 2026
September 30,
2026
No
Zhejiang Rongsheng Holding Group Co.,
Ltd. [Note 4]
USD
3,363,600.00
October 25, 2023
July 1, 2026
No
Zhejiang Rongsheng Holding Group Co.,
Ltd. and the Company [Note 7]
USD 12,900.00
November 2, 2021
July 1, 2026
No
Zhejiang Rongsheng Holding Group Co.,
Ltd. and the Company [Note 7]
EUR 500.00
November 18,
2021
July 1, 2026
No
Zhejiang Rongsheng Holding Group Co.,
Ltd.
457,735.56
February 14, 2025
March 6, 2027
No
Zhejiang Rongsheng Holding Group Co.,
Ltd.
327,100.00
April 3, 2026
April 8, 2027
No
Notes of related guarantee

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199 / 214
[Note 1] Zhejiang Rongsheng Holding Group Co., Ltd. provides a joint and several liability guarantee for 100%
of the guaranteed amount. Ningbo Zhongjin Petrochemical Co., Ltd., a subsidiary of the Company, provides
mortgage security over its fixed assets with a book balance of RMB 1,533.4989 million.
[Note 2] Zhejiang Rongsheng Holding Group Co., Ltd. provides a joint and several liability guarantee for 100%
of the guaranteed amount. Ningbo Niluoshan New Energy Co., Ltd., a subsidiary of the Company, provides
mortgage security over its fixed assets and intangible assets with a total book balance of RMB 79.3522 million.
[Note 3] Zhejiang Rongsheng Holding Group Co., Ltd. provides a joint and several liability guarantee for 100%
of the guaranteed amount. Zhejiang Yisheng New Materials Co., Ltd., a subsidiary of the Company, provides
mortgage security over its fixed assets with a book balance of RMB 2,963.1306 million.
[Note 4] Zhejiang Rongsheng Holding Group Co., Ltd. provides a joint and several liability guarantee for 100%
of the guaranteed amount. Zhejiang Petroleum & Chemical Co., Ltd., a subsidiary of the Company, provides
mortgage security over the completed assets of the additional 1.4 million tonnes per annum ethylene and
downstream chemical units project (Phase II Product Structure Optimization), including but not limited to the land
use rights, above-ground buildings and project equipment formed upon the completion and acceptance of the
construction project.
[Note 5] Zhejiang Rongsheng Holding Group Co., Ltd. provides a joint and several liability guarantee for 100%
of the guaranteed amount. Zhejiang Petroleum & Chemical Co., Ltd., a subsidiary of the Company, provides
mortgage security over all assets formed by the High-performance Resins Project, including but not limited to the
land use rights, above-ground buildings and project equipment formed upon the completion and acceptance of the
construction project.
[Note 6] Zhejiang Rongsheng Holding Group Co., Ltd. provides a joint and several liability guarantee for 100%
of the guaranteed amount. Zhejiang Petroleum & Chemical Co., Ltd., a subsidiary of the Company, provides
mortgage security over its machinery and equipment with a book balance of RMB 4,436.9511 million.
[Note 7] Zhejiang Rongsheng Holding Group Co., Ltd. and the Company provide joint and several liability
guarantees for 60% of the guaranteed amount. Zhejiang Petroleum & Chemical Co., Ltd., a subsidiary of the
Company, provides mortgage security over the completed assets of the 40 million tonnes per annum refining and
chemical integration project, including but not limited to the land use rights, above-ground buildings and project
equipment formed upon the completion and acceptance of the construction project.
[Note 8] Zhejiang Rongsheng Holding Group Co., Ltd. and the Company provide joint and several liability
guarantees for 51% of the guaranteed amount. Zhejiang Petroleum & Chemical Co., Ltd., a subsidiary of the
Company, provides mortgage security over the completed assets of the 40 million tonnes per annum refining and
chemical integration project, including but not limited to the land use rights, above-ground buildings and project
equipment formed upon the completion and acceptance of the construction project.
(4) Remuneration of key management personnel
Unit: RMB 10,000
Item
The amount incurred in the
current period
Amount incurred in the previous
period
Remuneration of key management personnel
649.19
723.29
(5) Other related party transactions
1. Fund borrowing from/to related parties

Full text of 2026 Semi-Annual Report
200 / 214
(1) At the beginning of the period, the Company had RMB 7,418.5639 million payable to Zhejiang Rongsheng
Holding Group Co., Ltd. During the period, the Company and its subsidiaries borrowed an aggregate amount of
RMB 4,670.00 million from Zhejiang Rongsheng Holding Group Co., Ltd., accrued fund occupation fees of RMB
60.5613 million, and repaid an aggregate amount of RMB 2,934.4286 million in principal and interest. As of June
30, 2026, the balance payable by the Company to Zhejiang Rongsheng Holding Group Co., Ltd. was RMB
9,214.6966 million.
(2) During the period, Zhejiang Shengyuan Chemical Fiber Co., Ltd., a subsidiary of the Company, borrowed
an aggregate amount of RMB 1,699.8422 million from Zhejiang Rongsheng Holding Group Co., Ltd. and repaid an
aggregate amount of RMB 1,699.8422 million. As of June 30, 2026, Zhejiang Shengyuan Chemical Fiber Co., Ltd.
had fully repaid the above amounts.
(3) At the beginning of the period, Zhejiang Petroleum & Chemical Co., Ltd., a subsidiary of the Company,
had RMB 10.80 million receivable from ZPC-ENN (Zhoushan) Gas Co., Ltd. During the period, interest of RMB
0.1626 million was accrued and collected. As of June 30, 2026, the amount receivable from ZPC-ENN (Zhoushan)
Gas Co., Ltd. remained RMB 10.80 million.
2. The Company and its subsidiaries made the following payments to related parties for ongoing engineering
contracts:
Unit: RMB 10,000
Related Party
Current Period
Same Period Last Year
Suzhou Shenghui Equipment Co., Ltd.
6,999.25
16,134.84
Zhejiang Dongjiang Green Petrochemical Technology Innovation Center Co., Ltd.
635.40
46,092.87
Shanghai Shenglanhui Technology Co., Ltd.
1,235.62
3,972.48
Zhuoran (Zhejiang) Integration Technology Co., Ltd.
3,402.00
2,940.40
Total
12,272.27
69,140.59
3. As of June 30, 2026, the deposit balances of the Company and its subsidiaries with the related party
Zhejiang Xiaoshan Rural Commercial Bank Co., Ltd. were RMB 596,284,850.03, USD 2,729,206.75 and EUR
129.66.
As of December 31, 2025, the deposit balances of the Company and its subsidiaries with the related party
Zhejiang Xiaoshan Rural Commercial Bank Co., Ltd. were RMB 71,089,124.31, USD 3,186,008.86 and EUR
129.66.
6. Accounts receivable and payable of related parties
(1) Receivables
Unit: RMB
Project
Related party
Ending balance
Beginning balance
Book balance
Bad-debt
provision
Book balance
Bad-debt
provision
Accounts
receivable
Saudi Basic Industries
Corporation
107,502,457.44

81,355,210.04


Zhejiang Yisheng
Petrochemical Co., Ltd.
354,658,071.14
17,732,903.56
365,689,201.21
18,284,460.06

Aramco Trading
Singapore Pte.Ltd.


216,399,824.26


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201 / 214

Zhejiang Derong
Chemicals Co., Ltd.
59,059,737.15
2,952,986.86


Subtotal

521,220,265.73
20,685,890.41
663,444,235.51
18,284,460.06
Dividends
receivable
Zhejiang Yisheng
Petrochemical Co., Ltd.
900,000,000.00



Subtotal

900,000,000.00



Prepayment
Hangzhou Shengyuan
Real Estate
Development Co., Ltd.
2,612,027.60



Subtotal

2,612,027.60



Other receivables
ZPC-ENN (Zhoushan)
Gas Co., Ltd.,
10,800,000.00
6,600,000.00
10,800,000.00
6,600,000.00
Subtotal

10,800,000.00
6,600,000.00
10,800,000.00
6,600,000.00
(2) Payables
Unit: RMB
Item
Related party
Ending book balance
Beginning book
balance
Accounts payable
Rongsheng Petrochemical (Singapore) Pte. Ltd. [Note]
26,650,545,427.22
28,256,256,144.32

Yisheng Dahua Petrochemical Co., Ltd. [Note]
2,780,210,000.00
2,365,800,000.00

Zhejiang Yisheng New Materials Co., Ltd. [Note]
1,560,224,360.00
1,670,000,000.00

Ningbo Zhongjin Petrochemical Co., Ltd. [Note]
2,414,056,000.00
1,405,426,000.00

Dalian Rongxincheng Trading Co., Ltd. [Note]
1,127,072,195.56
440,414,455.48

Zhejiang ZPC Sales Co., Ltd. [Note]
800,000,000.00
170,337,839.99

Ningbo Rongxincheng Trading Co., Ltd. [Note]
306,050,000.00
161,050,000.00

Zhejiang Petroleum & Chemical Co., Ltd. [Note]
34,000,000.00
34,000,000.00

The Company [Note]
585,000,000.00
1,168,000,000.00

Ningbo Hengyi Trading Co., Ltd.
10,889,979.71


Zhejiang Rongsheng Holding Group Co., Ltd.
440,537,286.76
404,837,206.40

Saudi Arabian Oil Company

3,543,622,089.94

Zhejiang Dingsheng Petrochemical Engineering Co.,
Ltd.

337,238,077.47

Zhejiang Rongtong Logistics Co., Ltd.
65,761,341.33
144,673,343.36

Ningbo Rongxiang Logistics Co., Ltd.

31,532,493.55

Ningbo Qingzhi Chemicals Terminal Co., Ltd.
2,324,467.56
7,309,445.62

Shanghai Huanqiu Engineering Co., Ltd.
1,001,320.75
5,160,076.48

Zhejiang Sanyuan Textile Co., Ltd.
4,287,168.99
4,249,274.30

Ningbo Haineng Blend Oil Co., Ltd.
5,469,491.14
1,329,101.03

Zhejiang Derong Chemicals Co., Ltd.

809,628.01

Suzhou Shenghui Equipment Co., Ltd.
11,775,711.18
132,000.00

Thermal Power Co., Ltd. of Ningbo Economic and
Technological Development Zone
0.00
13,665.56

Qijiashan Hotel of Ningbo United Group Co., Ltd.
8,058.00
2,565.00

Full text of 2026 Semi-Annual Report
202 / 214

Zhejiang Rongxiang Thermal Power Co., Ltd.
58,462,706.77


Aramco Trading Fujairah FZE

803,913.45

Zhejiang Dongjiang Green Petrochemical Technology
Innovation Center Co., Ltd.

5,057,298.41
Subtotal

36,857,675,514.97
40,158,054,618.37
Notes payable
Ningbo Hengyi Trading Co., Ltd.

50,000,000.00

Zhejiang Rongxiang Thermal Power Co., Ltd.

14,770,000.00
Subtotal


64,770,000.00
Contract liabilities
and other current
liabilities
Zhejiang Dingsheng Petrochemical Engineering Co.,
Ltd.
13,332.00
8,122,893.70

Ningbo Shengmao Trading Co., Ltd.
17,350,674.51
2,277,662.26

Zhoushan ZPC Zhougang Tugboat Co., Ltd.
922,964.74
499,205.90

Hainan Yisheng Petrochemical Co., Ltd.

323,158.43

Zhejiang Rongtong Logistics Co., Ltd.
956,680.27
2,293,481.65

Shanghai Huanqiu Engineering Co., Ltd.
10,000.00
10,000.00
Subtotal

19,253,651.52
13,526,401.94
Other payables
Zhejiang Rongsheng Holding Group Co., Ltd.
9,214,696,647.31
7,418,563,934.03

Zhejiang Dingsheng Petrochemical Engineering Co.,
Ltd.
1,469,900.00
1,346,500.00

Zhejiang Rongtong Logistics Co., Ltd.
5,000.00
1,005,600.00

Suzhou Shenghui Equipment Co., Ltd.
500,300.00
300.00
Subtotal

9,216,671,847.31
7,420,916,334.03
[Note] The above amounts relate to letters of credit issued by the Company and its subsidiaries. Upon receipt of the
letters of credit, Rongsheng Petrochemical (Singapore) Pte. Ltd., Yisheng Dahua Petrochemical Co., Ltd., Zhejiang
Yisheng New Materials Co., Ltd., the Company, Ningbo Zhongjin Petrochemical Co., Ltd., Dalian Rongxincheng
Trading Co., Ltd., Zhejiang ZPC Sales Co., Ltd., Ningbo Rongxincheng Trading Co., Ltd. and Zhejiang Petroleum
& Chemical Co., Ltd. discounted the relevant letters of credit prior to maturity.
XV. Commitments and contingencies
1. Major commitments
Significant commitments at the balance sheet date
1. As of June 30, 2026, the aggregate amount of letters of credit opened but not yet utilized by the Company
and its subsidiaries, namely Zhejiang Shengyuan Chemical Fiber Co., Ltd., Yisheng Dahua Petrochemical Co., Ltd.,
Zhejiang Petroleum & Chemical Co., Ltd., Rongsheng Petrochemical (Singapore) Pte. Ltd., Zhejiang Yongsheng
Technology Co., Ltd., Ningbo Zhongjin Petrochemical Co., Ltd., Zhejiang Yisheng New Materials Co., Ltd.,
Zhejiang Yongsheng Technology Co., Ltd., and Rongsheng New Materials (Zhoushan) Co., Ltd., with Bank of
Communications Co., Ltd., Hangzhou Xiaoshan Sub-branch and other financial institutions, amounted to RMB
41,498,416,300.00, USD 146,431,100.00, EUR 38,871,100.00 and GBP 629,000.00.
2. As of June 30, 2026, the outstanding letters of guarantee of the Company and its subsidiaries were as follows:
Unit: 10,000

Full text of 2026 Semi-Annual Report
203 / 214
Issuing Bank
Applicant
Beneficiary
Guarantee
Amount
Bank of China Limited, Dalian Jinpu
New Area Branch
Yisheng Dahua
Petrochemical Co., Ltd.
Zhengzhou Commodity Exchange
CNY 14,410.00
Bank of Ningbo Co., Ltd., Hudong
Sub-branch
Ningbo Zhongjin
Petrochemical Co., Ltd.
Zhejiang Jinhui Construction Co., Ltd.
CNY 9.09
Bank of Ningbo Co., Ltd., Hudong
Sub-branch
Ningbo Zhongjin
Petrochemical Co., Ltd.
Zhejiang Guojin Construction Co.,
Ltd.
CNY 30.77
Bank of Ningbo Co., Ltd., Hudong
Sub-branch
Ningbo Zhongjin
Petrochemical Co., Ltd.
Zhejiang Juxing Construction and
Installation Engineering Co., Ltd.
CNY 59.03
China Construction Bank Corporation,
Zhoushan Branch
Zhejiang Petroleum &
Chemical Co., Ltd.
Hangzhou Customs of the People’s
Republic of China
CNY 50,000.00
Industrial and Commercial Bank of
China Limited, Zhoushan Branch
Zhejiang Petroleum &
Chemical Co., Ltd.
Hangzhou Customs of the People’s
Republic of China
CNY 33,000.00
Industrial and Commercial Bank of
China Limited, Zhoushan Branch
Zhejiang Petroleum &
Chemical Co., Ltd.
Hangzhou Customs of the People’s
Republic of China
CNY 33,000.00
Industrial and Commercial Bank of
China Limited, Zhoushan Branch
Zhejiang Petroleum &
Chemical Co., Ltd.
Hangzhou Customs of the People’s
Republic of China
CNY 34,000.00
Bank of China Limited, Zhoushan
Branch
Zhejiang Petroleum &
Chemical Co., Ltd.
Hangzhou Customs of the People’s
Republic of China
CNY 30,000.00
Bank of China Limited, Zhoushan
Branch
Zhejiang Petroleum &
Chemical Co., Ltd.
Hangzhou Customs of the People’s
Republic of China
CNY 50,000.00
Bank of China Limited, Zhoushan
Branch
Zhejiang Petroleum &
Chemical Co., Ltd.
Hangzhou Customs of the People’s
Republic of China
CNY 40,000.00
Bank of China Limited, Zhoushan
Branch
Zhejiang Petroleum &
Chemical Co., Ltd.
Hangzhou Customs of the People’s
Republic of China
CNY 30,000.00
Bank of China Limited, Zhoushan
Branch
Zhejiang Petroleum &
Chemical Co., Ltd.
Hangzhou Customs of the People’s
Republic of China
CNY 50,000.00
Bank of China Limited, Zhoushan
Branch
Zhejiang Petroleum &
Chemical Co., Ltd.
Hangzhou Customs of the People’s
Republic of China
CNY 49,000.00
Bank of Communications Co., Ltd.,
Hangzhou Xiaoshan Sub-branch
Zhejiang Petroleum &
Chemical Co., Ltd.
Yitong New Materials Co., Ltd.
CNY 17,069.83
Bank of Communications Co., Ltd.,
Hangzhou Xiaoshan Sub-branch
Zhejiang Petroleum &
Chemical Co., Ltd.
Yitong New Materials Co., Ltd.
CNY 27,255.73
Industrial and Commercial Bank of
China Limited, Zhoushan Branch
ZPC Jintang Logistics
Co., Ltd.
Jintang Branch of Zhoushan Municipal
Bureau of Natural Resources and
Planning
CNY 146.91
2. Contingencies
(1) Material contingencies as at the balance sheet date
As of the balance sheet date, the Company has no important contingencies that need to be disclosed.
(2) Explanation where the Company has no material contingencies requiring disclosure
The Company has no material contingencies to be disclosed.

Full text of 2026 Semi-Annual Report
204 / 214
XVI. Events after the Balance Sheet Date
1. Other Events after the Balance Sheet Date
At the First Extraordinary General Meeting of Shareholders of 2026 held on June 25, 2026, the Company
considered and approved the Proposal on the 2026 Employee Stock Ownership Plan (Draft) and its Summary, the
Proposal on the Administrative Measures for the 2026 Employee Stock Ownership Plan, and other relevant
proposals. The implementation of the Employee Stock Ownership Plan commenced during the Reporting Period,
but the transfer of shares had not yet been completed as at the end of the Reporting Period. On July 7, 2026, the
Company completed the non-trading transfer of 153 million shares, and the relevant transfer was separately
disclosed in an announcement.
XVII. Other Significant Matters
1. Segment Information
(1) Basis for Determining Reportable Segments and Accounting Policies
The Company determines its reportable segments based on its internal organizational structure, management
requirements and internal reporting system, with business segments serving as the basis for identifying reportable
segments. The operating results of the petrochemical production business, polyester fiber manufacturing business
and trading business are assessed separately. Assets and liabilities jointly used by the respective segments are
allocated among the segments in proportion to their scale.
(2) Financial Information of Reportable Segments
Unit：RMB
Item
Oil Refining
Production
Business
Chemical
Production
Business
Polyester Fiber
Manufacturing
Business
Trading
Business
Inter-segment
Eliminations
Total
Revenue
from
principal
operation
s
27,078,065,547.
07
98,493,690,878.
90
13,293,150,155.
54
53,332,100,905.
42
-
63,225,402,736.
73
128,971,604,750.
20
Cost of
principal
operation
s
19,834,004,769.
33
87,876,187,643.
57
12,389,413,664.
71
52,438,503,311.
65
-
63,198,778,705.
97
109,339,330,683.
29
Total
assets
454,363,058,739.38
11,427,963,170.
28
-
62,968,482,190.
04
402,822,539,719.
62
Total
liabilities
305,410,917,255.09
6,403,353,931.6
1
-
13,458,196,931.
21
298,356,074,255.
49


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205 / 214
XVIII. Notes to main items in financial statements of the parent company
1. Accounts receivable
(1) Disclosure by aging
Unit: RMB
Aging
Ending book balance
Beginning book balance
Within 1 year (inclusive of 1 year)
3,610,690.16
2,565,821.96
Total
3,610,690.16
2,565,821.96
(2) Classified disclosure by bad debt accrual method
Unit: RMB
Category
Ending balance
Beginning balance
Book balance
Bad-debt provision
Book
value
Book balance
Bad-debt provision
Book
value
Amou
nt
Propor
tion
Amount
Percentag
e of
provision
Amount
Proporti
on
Amount
Percentag
e of
provision
Accounts
receivable
with
provision
for bad debt
reserves
based on
aging
portfolio
3,610,
690.1
6
100.00
%
180,534.
51
5.00%
3,430,
155.65
2,565,82
1.96
100.00%
128,291.
10
5.00%
2,437,
530.8
6
Total
3,610,
690.1
6
100.00
%
180,534.
51
5.00%
3,430,
155.65
2,565,82
1.96
100.00%
128,291.
10
5.00%
2,437,
530.8
6
Provision for bad debt by combination:
Unit: RMB
Name
Ending balance
Book balance
Bad-debt provision
Percentage of provision
Within 1 year
3,610,690.16
180,534.51
5.00%
Total
3,610,690.16
180,534.51
5.00%
If the provision for bad debts of accounts receivable is accrued according to the general model of expected credit
loss:
□ Applicable R Not applicable
(3) Bad debt reserves accrual, recovered or reversed in the current period
Provision for bad debts in the current period:
Unit: RMB
Category
The amount of change in the current period

Full text of 2026 Semi-Annual Report
206 / 214
Beginning
balance
Provision
Recovered or
reversed
Write-off
Other
Ending
balance
Provision made for bad
debt reserves based on
aging portfolio
128,291.10
52,243.41



180,534.51
Total
128,291.10
52,243.41



180,534.51
(4) Top five accounts receivable by ending balance
The total amount of the top 5 accounts receivable at the end of the period was RMB 3,529,184.67, accounting for
97.75% of the total accounts receivable at the end of the period. The corresponding provision for bad debts was
RMB 176,459.24.
2. Other receivables
Unit: RMB
Item
Ending balance
Beginning balance
Dividends receivable
2,432,100,000.00
550,000,000.00
Other receivables
2,782,866,090.11
2,347,360,297.44
Total
5,214,966,090.11
2,897,360,297.44
(1) Dividends receivable
1) Classification of dividends receivable
Unit: RMB
Project (or investee)
Ending balance
Beginning balance
Hong Kong Shenghui Co., Ltd.
550,000,000.00
550,000,000.00
Zhejiang Yisheng Petrochemical Co.,
Ltd.
482,100,000.00

Dalian Yisheng Investment Co., Ltd.
1,400,000,000.00

Total
2,432,100,000.00
550,000,000.00
2) Significant dividends receivable aged over 1 year
Unit: RMB
Project (or investee)
Ending balance
Aging
Reason for the
unrecovered amount
Whether impairment
occurs and its
judgment basis
Hong Kong Shenghui
Co., Ltd.
550,000,000.00
2-3 years, over 3 years
Pending payment
arrangements
Subsidiary operates
normally, and no risk is
expected in the
recovery of funds.
Total
550,000,000.00




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207 / 214
(2) Other receivables
1) Classification of other receivables by nature
Unit: RMB
Nature of account
Ending book balance
Beginning book balance
Government accounts receivable
409,020,000.00
409,020,000.00
Petty cash
2,275,927.64
2,684,528.02
Amounts due from related parties within
the scope of consolidation
2,372,767,133.27
1,925,920,763.12
Current accounts
3,242,800.84
3,242,800.84
Security deposits for borrowings

10,000,000.00
Total
2,787,305,861.75
2,350,868,091.98
2) Disclosure by aging
Unit: RMB
Aging
Ending book balance
Beginning book balance
Within 1 year (inclusive of 1 year)
1,630,149,490.78
1,276,109,520.10
1-2 years
150,889,396.41
90,642,139.84
2-3 years
630,577,397.64
608,426,855.12
Above 3 years
375,689,576.92
375,689,576.92
Total
2,787,305,861.75
2,350,868,091.98
3) Classified disclosure by bad debt accrual method
Unit: RMB
Category
Ending balance
Beginning balance
Book balance
Bad-debt provision
Book
value
Book balance
Bad-debt provision
Book
value
Amou
nt
Propor
tion
Amount
Percent
age of
provisio
n
Amount
Proporti
on
Amount
Percent
age of
provisio
n
Provision
made for
bad debt
reserves
based on
aging
portfolio
2,787,
305,8
61.75
100.00
%
4,439,77
1.64
0.16%
2,782,86
6,090.11
2,350,86
8,091.98
100.00%
3,507,79
4.54
0.15%
2,347,36
0,297.44
Total
2,787,
305,8
61.75
100.00
%
4,439,77
1.64
0.16%
2,782,86
6,090.11
2,350,86
8,091.98
100.00%
3,507,79
4.54
0.15%
2,347,36
0,297.44
Provision for bad debt by combination:
Unit: RMB
Name
Ending balance

Full text of 2026 Semi-Annual Report
208 / 214
Book balance
Bad-debt provision
Percentage of provision
Government accounts
receivable
409,020,000.00
2,078,457.53
0.51%
Petty cash
2,275,927.64
2,199,174.07
96.63%
Amounts due from related
parties within the scope of
consolidation
2,372,767,133.27


Current accounts
3,242,800.84
162,140.04
5.00%
Total
2,787,305,861.75
4,439,771.64
0.16%
Provision for bad debts is made according to the general model of expected credit loss:
Unit: RMB
Bad-debt provision
Stage I
Stage II
Stage III
Total
Expected credit loss
in the next 12 months
Expected credit loss
over the entire
duration (without
credit impairment)
Expected credit loss
for the entire duration
(credit impairment has
occurred)
The balance as of
January 1, 2026
181,607.98
1,136,609.64
2,189,576.92
3,507,794.54
The balance as of
January 1, 2026 in the
current period




Provision in current
period
-20,430.02
952,407.12

931,977.10
Balance as of June 30,
2026
161,177.96
2,089,016.76
2,189,576.92
4,439,771.64
Provision ratio for bad
debts at period-end
0.01%
1.38%
0.22%
0.16%
Changes in the carrying amount where changes in the loss allowance during the current period were significant
□ Applicable R Not applicable
4) Top five other receivables by ending balance, grouped by debtor
Unit: RMB
Company name
Nature of
payment
Ending balance
Aging
Proportion in a
total ending
balance of other
receivables
Ending balance of
provision for bad
debts
Other receivables 1
Current account of
related parties
within the scope of
consolidation
1,263,649,822.31
Within 1 year, 1-2
years
45.34%

Other receivables 2
Current account of
related parties
within the scope of
consolidation
668,599,406.19
Within 1 year, 1-2
years, 2-3 years
23.99%

Other receivables 3
Government
receivables
409,020,000.00
Within 1 year, 1-2
years
14.67%
2,078,457.53
Other receivables 4
Current account of
related parties
373,500,000.00
Above 3 years
13.40%


Full text of 2026 Semi-Annual Report
209 / 214
within the scope of
consolidation
Other receivables 5
Current account of
a related party
within the scope of
consolidation
60,000,000.00
Within 1 year
2.15%

Total

2,774,769,228.50

99.55%
2,078,457.53
3. Long-term equity investment
Unit: RMB
Item
Ending balance
Beginning balance
Book balance
Provision for
impairment
Book value
Book balance
Provision for
impairment
Book value
Investment in
subsidiaries
51,313,102,80
8.47

51,313,102,80
8.47
51,293,102,808
.47

51,293,102,808
.47
Investment in
joint ventures
and associates
4,090,123,269.
25

4,090,123,269
.25
4,354,870,887.
12

4,354,870,887.
12
Total
55,403,226,07
7.72

55,403,226,07
7.72
55,647,973,695
.59

55,647,973,695
.59
(1) Investment in subsidiaries
Unit: RMB
Investee
Beginning
balance
(book
value)
Opening
balance of
impairmen
t provision
Increase and decrease in the current period
Ending
balance
(book
value)
Ending
balance of
provision for
impairment
Additional
investment
Reduced
investment
Provision
for
impairmen
t
Other
Zhejiang
Shengyuan
Chemical Fiber
Co., Ltd.
2,030,140,0
00.00





2,030,140,0
00.00

Hong Kong
Shenghui Co.,
Ltd.
141,419,91
0.00





141,419,91
0.00

Dalian Yisheng
Investment
Co., Ltd.
1,468,204,4
57.48





1,468,204,4
57.48

Ningbo
Zhongjin
Petrochemical
Co., Ltd.
5,990,201,1
40.04





5,990,201,1
40.04

Rongsheng
Petrochemical
(Singapore)
Pte. Ltd.
620,889,56
0.00





620,889,56
0.00

Rongsheng
International
100,000,00
0.00





100,000,00
0.00


Full text of 2026 Semi-Annual Report
210 / 214
Trading Co.,
Ltd.
Zhejiang
Petroleum &
Chemical Co.,
Ltd.
29,987,242,
115.34





29,987,242,
115.34

Rongxiang
Chemical Fiber
Co., Ltd.
3,000,000.0
0





3,000,000.0
0

Zhejiang
Yongsheng
Technology
Co., Ltd.
800,306,53
7.70





800,306,53
7.70

Rongsheng
International
Trading
(Hainan) Co.,
Ltd.
1,000,000.0
0





1,000,000.0
0

Rongsheng
Chemicals
(Shanghai) Co.,
Ltd.
50,000,000.
00





50,000,000.
00

Rongsheng
New Materials
(Zhoushan)
Co., Ltd.
9,200,000,0
00.00





9,200,000,0
00.00

Rongsheng
New Materials
(Taizhou) Co.,
Ltd.
900,000,00
0.00





900,000,00
0.00

Rongsheng
Petrochemical
(Hong Kong)
Limited
699,087.91





699,087.91

Zhejiang
Shenghui New
Materials Co.,
Ltd.


20,000,000.
00



20,000,000.
00

Total
51,293,102,
808.47

20,000,000.
00



51,313,102,
808.47


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211 / 214
(2) Investments in joint ventures and associates
Unit: RMB
Investee
Beginning
balance
(book
value)
Opening
balance of
impairment
provision
Increase and decrease in the current period
Ending
balance
(book
value)
Ending
balance of
provision
for
impairment
Additional
investment
Reduced
investment
Investment
gains or losses
recognized
under the
equity method
Other
comprehensive
income
adjustments
Other
equity
changes
Declared
distribution
of cash
dividends
or profit
Provision for
impairment
Other
I. Joint ventures
II. Associates
Zhejiang
Yisheng
Petrochemic
al Co., Ltd.
1,519,055,8
07.60



12,867,261.37
-1,128,877.24

482,100,000
.00


1,048,69
4,191.73

Ningbo
Hengyi
Trading Co.,
Ltd.
12,151,249.
51



49,693,784.88
-8,056,860.73




53,788,1
73.66

Zhejiang
Xiaoshan
Rural
Commercial
Bank Co.,
Ltd.
2,823,663,8
30.01



181,486,540.12
26,145,044.38

43,654,510.
65


2,987,64
0,903.86

Subtotal
4,354,870,8
87.12



244,047,586.37
16,959,306.41

525,754,510
.65


4,090,12
3,269.25

Total
4,354,870,8
87.12



244,047,586.37
16,959,306.41

525,754,510
.65


4,090,12
3,269.25

The recoverable amount is determined based on fair value less costs of disposal
□ Applicable R Not applicable
The recoverable amount is determined based on the present value of estimated future cash flows
□ Applicable R Not applicable

Full text of 2026 Semi-Annual Report
212 / 214

4.Operating revenue and operating cost
(1) Details
Unit: RMB
Item
The amount incurred in the current period
Amount incurred in the previous period
Revenue
Cost
Revenue
Cost
Primary business
1,578,947,452.52
1,398,108,985.27
743,494,859.25
714,589,038.03
Other businesses
79,688,490.88
18,390,135.78
131,264,163.44
69,326,198.38
Total
1,658,635,943.40
1,416,499,121.05
874,759,022.69
783,915,236.41
Of which: Revenue
from Contracts with
Customers
1,657,200,217.24
1,416,363,398.05
874,388,725.90
783,779,513.41

(2) Breakdown of operating revenue and operating cost
1) Breakdown of revenue generated by contracts with customers by goods or service categories
Unit: RMB
Item
Amount in the current period
Amount in the previous period
Revenue
Cost
Revenue
Cost
Polyester products, chemical
fibers and films
1,578,947,452.52
1,398,108,985.27
743,494,859.25
714,589,038.03
Trade and others
78,252,764.72
18,254,412.78
130,893,866.65
69,190,475.38
Subtotal
1,657,200,217.24
1,416,363,398.05
874,388,725.90
783,779,513.41
2) Breakdown of revenue from contracts with customers by timing of transfer of goods or services
Unit: RMB
Item
Amount in the current period
Amount in the previous
period
Revenue recognized at a certain point of time
1,657,200,217.24
874,388,725.90
Subtotal
1,657,200,217.24
874,388,725.90
(3) Information related to performance obligations
Item
Time of
fulfillment of
performance
obligations
Important payment
terms
Nature of
goods
transferred
by the
company
Whether
the
Company
acts as
principal
Amounts
expected to be
refunded to
customers by
the company
Type of quality
assurance
provided by the
company and
related
obligations
Sale
of
goods
At the time of
delivery of
goods
Prepayment; Accounts
receivable payment period
Products
conforming
to national
standards
Yes
None
Assurance-type
warranty

Full text of 2026 Semi-Annual Report
213 / 214
is generally 30 to 90 days
after product delivery

5. Investment income
Unit: RMB
Item
The amount incurred in the current
period
Amount incurred in the previous
period
Income from long-term equity
investment under the cost method
1,400,000,000.00

Investment income from long-term
equity investments accounted for using
the equity method
244,047,586.37
155,613,807.08
Interest income from funds lent to related
parties
9,148,040.78
13,659,765.86
Total
1,653,195,627.15
169,273,572.94
XIX. Supplementary information
1. Breakdown of non-recurring gains and losses in the current period
RApplicable □ Not applicable
Unit: RMB
Item
Amount
Gains or losses on disposal of non-current assets
5,731,630.19
Government subsidies included in the current profit and losses (except those closely related to
the Company's normal business operations, which are in line with national policies, enjoyed
according to certain standards, and have a continuous impact on the Company's profit and
losses)
13,985,643.04
Except for the effective hedging business related to the Company's normal business, the gains
and losses of the fair value changes arising from financial assets and financial liabilities held
by non-financial enterprises and the gains and losses arising from the disposal of financial
assets and financial liabilities
-359,403,400.67
Fees charged to non-financial enterprises for occupation of funds and recognized in current
profit or loss
153,396.22
Profit or loss from entrusted investment or asset management
143,013.70
Other non-operating income and expenses other than the items set out above
-410,642.51
Other profit or loss items falling within the definition of non-recurring gain or loss
4,022,688.71
Less: Effect of income tax
-58,116,873.86
Effect of non-controlling interests (after tax)
-44,787,981.32
Total
-232,872,816.14
Situation of other profit/loss items falling within the definition of non-recurring gain or loss:
□ Applicable R Not applicable

Full text of 2026 Semi-Annual Report
214 / 214
The Company has no other profit/loss items falling within the definition of non-recurring gain or loss
Statement of defining non-recurring profit and loss items listed in the Explanatory Announcement No.1 on
Information Disclosure of Companies Offering Securities to the Public - Non-recurring Profit and Losses as
recurring profit and losses
□ Applicable R Not applicable
2. Return on equity and earnings per share (EPS)
Profit within the reporting
period
Weighted average
return on net assets
Earnings per share (EPS)
Basic earnings per share
(RMB per share)
Diluted earnings per share
(RMB per share)
Net profit attributable to ordinary
shareholders of the Company
11.13%
0.53
0.53
Net profit attributable to ordinary
shareholders of the Company
after deducting non-recurring
gains and losses
11.63%
0.56
0.56
3. Differences in Accounting Data under Domestic and Foreign Accounting Standards
(1) Differences in net profit and net assets between financial reports disclosed under International
Financial Reporting Standards and those disclosed under Chinese Accounting Standards for Business
Enterprises
□ Applicable R Not applicable
(2) Differences in net profit and net assets in financial reports disclosed in accordance with overseas
accounting standards and Chinese Accounting Standards for Business Enterprises
□ Applicable R Not applicable







Rongsheng Petrochemical Co., Ltd.
Chairman: Li Shuirong
August 24, 2026