HUAQIN has released its 2025 report and AGM proposals, detailing solid earnings growth, an enhanced shareholder return package and multiple operating mandates for 2026. Key points are as follows:

• 2025 Performance – Revenue rose 56.00% to RMB171.44 billion. Net profit attributable to shareholders increased 38.60% to RMB4.05 billion; net profit ex-non-recurring items reached RMB3.24 billion. Total assets stood at RMB96.21 billion, up 26.10%, while equity attributable to shareholders reached RMB25.80 billion.

• Dividend & Bonus Issue – The Board proposes a cash dividend of RMB12 (tax inclusive) per 10 shares and a 4-for-10 capitalization of the capital reserve. Based on 1,074,280,544 total shares less 215,947 treasury shares, the cash payout equals RMB1.29 billion, or 31.80% of 2025 earnings. Post-capitalization, share capital would expand to about 1,503,906,383 shares.

• External Guarantees – For 2026 the Company seeks approval to provide guarantees of up to RMB55.00 billion for subsidiaries, versus an existing RMB32.29 billion balance at end-2025.

• Related-Party Transactions – Routine dealings for 2026 have been estimated; connected directors will abstain from voting and independent directors have endorsed the caps.

• FX Hedging – Management requests authority to run foreign-exchange hedging with margin/premium outlay capped at USD500 million and maximum outstanding contract value of USD5 billion.

• Remuneration – Independent non-executive directors will each receive an annual fee of RMB0.25 million for 2026; 2025 remuneration is submitted for confirmation.

• Auditor – Re-appointment of BDO China Shu Lun Pan and BDO Limited for 2026 is proposed; 2025 domestic and overseas audit fees were RMB3.80 million and RMB1.20 million respectively.

• Use of Surplus IPO Proceeds – Part of the A-share fundraising projects will be closed, with remaining funds permanently added to working capital.

• General Mandate – The Board seeks a 12-month authority to issue up to 10% of the Company’s total issued shares (excluding treasury shares) as new H shares or convertible securities.

• AGM Details – Shareholders will vote on the above items at the Annual General Meeting scheduled for 20 May 2026 in Shanghai. The H-share register closes 15–20 May 2026.

These resolutions aim to balance shareholder returns with funding flexibility as HUAQIN enters its next growth phase.