China Development Bank Financial Leasing Co., Ltd. (CDB Leasing) released its audited results for the year ended 31 December 2025.

Financial Performance • Total revenue and other income slipped 1.0 % to RMB 28.28 billion, affected by a 14.3 % drop in finance-lease income to RMB 9.30 billion. • Operating-lease income rose 5.0 % to RMB 15.31 billion, lifting its contribution to 54.1 % of operating revenue. • Interest expenses fell 28.6 % to RMB 9.26 billion, while total expenses declined 3.3 % to RMB 21.83 billion. • Net profit increased 11.7 % year-on-year to RMB 5.03 billion; basic earnings per share were RMB 0.40. • ROE improved to 11.94 % (2024: 11.61 %) and ROA to 1.20 % (2024: 1.10 %).

Balance Sheet • Total assets expanded 6.8 % to RMB 433.47 billion. • Finance-lease receivables grew 2.2 % to RMB 206.58 billion, representing 47.7 % of total assets. • Cash and bank balances surged 41.6 % to RMB 61.82 billion, raising the liquidity share to 14.3 %. • Equity rose 9.2 % to RMB 43.97 billion; net assets per share reached RMB 3.48. • Core tier-one, tier-one and total capital adequacy ratios stood at 11.11 %, 11.11 % and 13.16 % respectively, comfortably above regulatory minima.

Asset Quality & Funding • Non-performing asset ratio edged up to 0.62 % (2024: 0.56 %); allowance coverage for non-performing finance-lease assets was 487.54 %. • Financial leverage moderated to 7.60 times from 8.25 times. • The year-end borrowing balance reached RMB 326.99 billion, while bonds payable increased 33.2 % to RMB 36.06 billion.

Segment Highlights • Aircraft leasing delivered revenue and other income of RMB 11.40 billion (+23.3 %), driven by higher rental yields, asset disposals and insurance recoveries. • Ship leasing contributed RMB 7.02 billion (-9.5 %) amid lower Baltic Dry Index levels and asset sales. • Energy leasing revenue rose 22.2 % to RMB 2.72 billion following RMB 37.63 billion of new investment focused on renewable projects. • High-end equipment leasing posted RMB 3.27 billion (-16.3 %) but segment profit before tax grew 23.0 % to RMB 1.45 billion on better cost control. • Inclusive finance revenue fell 11.9 % to RMB 2.62 billion as the company offered concessional terms to small-and-micro clients.

Cash Flow & Investments • Net operating cash inflow jumped to RMB 23.62 billion (2024: RMB 0.58 billion). • Total capex for ship, aircraft and other assets reached RMB 18.38 billion; group-wide new leasing investment totalled RMB 95.09 billion.

Dividend The Board proposes a final dividend of RMB 0.9947 per 10 shares (approximately RMB 1.26 billion in total), representing a 25 % payout of 2025 net profit, subject to shareholder approval.

Credit Ratings Standard & Poor’s affirmed an “A” rating; Moody’s maintained “A1”; Fitch adjusted to “A” following China’s sovereign downgrade, all with stable outlooks.