Abstract of 2025 Annual Report of Shenzhen SEG Co., Ltd.
Stock code: 000058, 200058 Stock abbreviation: SHEN SEG， SHEN SEG B Notice No.:2026-011
Abstract of 2025 Annual Report of
Shenzhen SEG Co., Ltd.
I. Important Notice
The abstract of 2025 Annual Report is excerpted from the full text of 2025 Annual Report. For more details about the
operating result, financial condition, and future development planning, investors shall read carefully the said full text
published on the designated media by China Securities Regulatory Commission (CSRC).
All directors of the Company attended the Board meeting on which this report was reviewed.
Notice of non-standard audit opinions
□ Applicable ? Not applicable
Proposal for profit distribution of common shares or proposal for transfer of capital reserves into share capital during
the reporting period deliberated by the Board of Directors
?Applicable □Not applicable
Whether capital reserve is transferred into share capital
□Yes ?No
The Board meeting has deliberated and approved the following profit distribution proposal: Distribute a cash dividend
of RMB0.24 (tax inclusive) for every 10 shares to all shareholders based on a total share capital of 1,231,200,672
shares; no bonus shares will be issued and no capital reserve will be converted into share capital.
Proposal for profit distribution of preferred shares in the reporting period adopted in the resolution of the Board of
Directors
□Applicable Not applicable
II. Company Profile
SHEN SEG, SHEN 000058,
Stock abbreviation Stock code
SEG B 200058
Stock exchange on which the shares are listed Shenzhen Stock Exchange
Stock abbreviation before change (if any) None
Representative of
Contact person and contact information Board Secretary
Securities Affairs
Name Feng Yan Xiang Qianqian
Plaza, Huaqiang Road
Office address Huaqiang Road (N), Futian
(N), Futian District,
District, Shenzhen
Shenzhen
Fax 0755-83975237 0755-83975237
Abstract of 2025 Annual Report of Shenzhen SEG Co., Ltd.
Tel 0755-83747939 0755-83741808
Email segcl@segcl.com.cn xiangqq@segcl.com.cn
Amid a complex and evolving external environment, the Company proactively adapted to new circumstances,
responded to new policy requirements, and actively served and contributed to the country’s overall development
strategy. In close alignment with its “14th Five-Year Plan” strategic guidelines of “adjusting the main business structure
and building a foundation for emerging industries,” the Company adhered to the principle of pursuing progress while
ensuring stability. Focusing on key drivers such as “a customer-first approach, reform and innovation, service
enhancement, and digital empowerment,” the Company has reinvigorated its traditional sectors, steadily expanded its
strategic emerging sectors, and progressively advanced the optimization and upgrading of its industrial structure,
giving full play to the driving and leading role of a state-owned enterprise. The main businesses of the Company
included electronic market circulation business centered on the operation and services of electronic market, the
inspection, testing, and certification industry focused on testing services and the R&D and manufacturing of testing
equipment; the property management and urban services industry dedicated to providing specialized and customized
services; and the new energy industry centered on the distributed photovoltaic industrial chain, building-integrated
photovoltaics, and integrated energy management. During the reporting period, the Company expanded its presence
in the inspection, testing, and certification sector in line with national strategic emerging industries, further expanded its
new energy business scenarios, and accelerated industrial upgrades in its electronic market circulation, property
management, and urban services through digital empowerment.
During the reporting period, the Company achieved operating revenue of 1,687.65 million yuan, representing a
decrease of 79.49 million yuan or 4.5% year-on-year. The decrease was primarily attributable to: A decline in the number
of property management and urban services projects under management compared to the previous year, leading to a
year-on-year decrease in operating revenue of approximately 104 million yuan. Total profit for the reporting period
amounted to 141.56 million yuan, representing an increase of 20.3 million yuan or 16.74% year-on-year. The increase
was primarily attributable to: 1. Investment gains of approximately 37 million yuan recognized from the sale of shares in
Huakong SEG during the period; and 2. A year-on-year decrease of approximately 17 million yuan in investment income
recognized under the equity method based on the Company's shareholding in Huakong SEG during the period.
(1) Electronic market circulation
Rooted in the electronic information industry for over three decades, the Company has consistently dedicated itself
to providing specialized, integrated services for the electronic information circulation sector. It has significantly
contributed to the high-quality development of the national electronic information industry and played an active role in
enhancing China's core competitiveness in the global electronic information industry chain. The Company has
successfully established two renowned brands, SEG E-Market and SEG Communication Market. Under this business
model, the Company controlled, held, held the shares of, and operated under authorization a business network covering
South China, East China, Central China, and Northwest China. Currently, the Company mainly held the following
electronic markets: Shenzhen SEG E-Market, SEG Communication Market, Longgang SEG, Changsha SEG, Wujiang
SEG, Xi'an SEG, Xi'an Hairong SEG, etc.
During the reporting period, the Company, as a pioneer and renowned brand in China’s electronic market operations,
thoroughly implemented the decisions and deployments of the CPC Central Committee and the State Council on building
a unified national market and adhering to a real economy-oriented, manufacturing-driven development approach. It
actively fulfilled the work requirements for high-level unification of the commodity and service markets, and deeply
participated in the development of Shenzhen Huaqiang North Commercial Circle as the "First Street for New Quality
Productive Forces" nationwide. By fully leveraging digital and intelligent technologies and expanding its brand globally,
the Company empowered merchant operations across multiple dimensions, enhanced market management efficiency
and global brand influence, and accelerated implementation of the "Electronic Market-plus" strategy, serving as a vital
Abstract of 2025 Annual Report of Shenzhen SEG Co., Ltd.
force supporting the real economy. First, consolidating the operational foundation of physical markets and enhancing
asset efficiency. Through targeted initiatives such as optimizing the business environment and innovating scenario-based
experiences, the Company achieved business iteration and structural optimization, effectively enhancing revenue
stability and reinforcing its market operations. The SEG E-Market of the Company was awarded the title of "Shenzhen
Five-Star Specialized Electronic Market" for its exceptional management and services—the first electronic market in
Shenzhen to receive this honor, reflecting the Company's ongoing contribution to advancing institutional innovation in
commodity trading markets and deepening the development of Shenzhen's social credit system. Second, deepening
digital transformation and building a smart market ecosystem. The Company comprehensively upgraded its digital and
intelligent market operation system, facilitating the efficient circulation of factors and continuously strengthening data-
driven decision-making mechanisms. By steadily improving market management efficiency and accelerating the
intelligent transformation of its industries, the Company effectively addressed key challenges faced by merchants, buyers,
and its own operations, progressively advancing the transition from traditional markets toward a model of smart services
and ecosystem synergy. Third, focusing on frontier industries and creating a hub for innovation in new quality productive
forces. Closely aligning with policy directions and market dynamics, the Company deeply explored market demand
potential and focused on integrating upstream and downstream resources within the drone industry chain. It
systematically built a complete industrial chain—from core components to whole-machine assembly, and from R&D and
design to production and manufacturing, with its innovation-driven leadership attracting attention from authoritative media
such as CCTV. Leveraging the clustering effect of its platforms, the Company actively cultivated new quality productive
forces, with a focus on incubating high-growth-potential enterprises, thereby contributing to the development of
Shenzhen's "20+8" industrial clusters.
(2) Inspection & testing certification
During the reporting period, the role of inspection, testing, and certification has shifted from traditional quality
control to supporting technological innovation, facilitating international market access, and empowering the entire
industrial chain. As a key component of national quality infrastructure, inspection, testing, and certification represent a
high-tech service, a technology-oriented service, and a producer service under prioritized state support, playing a vital
role in serving the market, enhancing product quality, driving industrial upgrading, and promoting high-quality
economic and social development. The Company is fully capitalizing on the policy opportunity window to accelerate its
strategic deployment in the inspection, testing, and certification sector, continuously reinforcing and enhancing its
competitive position within the industry. Regional Layout: The Company has strategically positioned itself in key
economic regions such as the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area,
establishing a nation-wide service network comprising “one headquarters, four bases, and over a dozen branch offices”
that covers targets critical industries. The Company’s laboratories have obtained accreditations and certifications from
both domestic and international authorities, including the China National Accreditation Service for Conformity
Assessment (CNAS), the China Inspection Body and Laboratory Mandatory Approval (CMA), the International Safe
Transit Association (ISTA), and the U.S. Consumer Product Safety Commission (CPSC), as well as industry-specific
certifications, enabling it to deliver extensive, responsive technical services. Testing Capabilities: Leveraging core
competencies in surface analysis, performance testing, reliability and failure analysis, climatic and mechanical
environment testing, and structural strength and reliability testing, the Company has developed a comprehensive,
cross-sectoral testing service system. Additionally, through the continuous introduction of internationally advanced
testing equipment such as the Shock Response Spectrum (SRS) system, KM1.5 thermal vacuum system, and X-ray
photoelectron spectroscopy (XPS), the Company has significantly enhanced its testing and analytical capabilities for
high-end and extreme conditions, establishing a robust hardware foundation for undertaking major, complex projects.
Service Areas: The Company’s operations empower national strategic industries—including semiconductors, new
energy, aerospace, next-generation information technology, rail transportation, shipbuilding, and construction
machinery—as well as key upstream and downstream supply chain sectors, providing services to numerous industry-
Abstract of 2025 Annual Report of Shenzhen SEG Co., Ltd.
leading enterprises and research institutions.
(3) Property management and urban services
During the reporting period, the Company remained committed to the mission of Shenzhen’s state-owned
enterprises to “serve the broader interests, serve the city, serve the industries, and serve the people’s livelihood.”
Through “small-scale property services” that support “large-scale livelihood needs,” it effectively enhanced the quality of
urban living spaces and promoted synergistic industrial development. First, it reinforced its customer-oriented approach
to strengthen the foundation of service delivery. The Company continued to solidify its service capabilities and establish
a high-quality service standard system, achieving a significant improvement in customer satisfaction. It received a
number of accolades, including “Outstanding Partner” and “Leading Enterprise in Customer Satisfaction Among China’s
Top 100 Property Management Companies.” Second, it facilitated urban renewal to safeguard people’s livelihood. The
Company focused on facilitating the installation, upgrading, and renovation of elevators in old residential communities—
projects critical to people’s livelihood—thereby effectively improving infrastructure, enhancing the living environment and
urban quality, and converting policy benefits into tangible wellbeing outcomes. Third, it deepened the application of digital
and smart technologies to drive innovation in service models. The Company made significant strides in the development
and deployment of its smart property management platform, successfully establishing an integrated, one-stop operations
management system. By leveraging key projects to create replicable demonstration projects, it systematically
empowered service delivery, management, and decision-making, achieving enhanced operational refinement that
supports the development of Shenzhen’s digital government and smart city initiatives.
(4) New energy
During the reporting period, the Company actively pursued the national “Dual Carbon” strategy, aligning with the
policy direction of Guangdong province and Shenzhen city to accelerate the development of a new energy system and
promote a comprehensive green and low-carbon transformation of economic and social development. With a focus on
Shenzhen and a presence across the country, the Company continued to explore high-quality projects and steadily
expanded its project resource reserves. On the investment side, it established a robust mechanism to select the best
options, strictly controlled project quality and risks, and ensured investment soundness and returns. On the construction
side, it accelerated the development of distributed photovoltaic power station projects, successfully completed installation
work ahead of critical policy deadlines, and achieved significant growth in installed capacity. By the end of the reporting
period, the Company’s cumulative contribution of green power had exceeded 180 million kWh. In addition, the Company
actively expanded its business boundaries, successfully launching its first high-voltage energy storage project and its first
ultra-fast charging station, thereby successfully achieving breakthroughs in new business segments. Its first BIPV project
with single-contract sales exceeding RMB 10 million was successfully delivered, and it provided low-carbon solutions for
venues of the National Games. With breakthroughs achieved in diverse scenarios such as large-scale transportation
hubs and sports venues, the Company has developed replicable benchmark cases, contributing to the low-carbon
transformation of the construction industry and advancing the development of a Beautiful China.
(1) Main accounting data and financial indexes in recent three years
Whether the Company needs to perform retrospective adjustment or restatement of accounting data for previous years
?Yes □No
Reasons for retrospective adjustment or restatement
Business combination under common control
Unit: RMB/Yuan
Changes
End of 2024 over end of End of 2023
End of 2025 last year
After
Before adjustment After adjustment Before adjustment After adjustment
adjustment
Total assets 4,975,144,722.24 5,065,402,435.76 5,152,990,017.28 -3.45% 5,380,146,949.27 5,460,385,710.44
Abstract of 2025 Annual Report of Shenzhen SEG Co., Ltd.
Net assets 2,013,432,638.88 2,007,073,603.17 2,067,481,554.43 -2.61% 2,006,490,243.66 2,059,253,526.96
attributable to
shareholders
of the listed
company
Change
After
Before adjustment After adjustment Before adjustment After adjustment
adjustment
Revenue 1,687,654,147.69 1,711,470,295.10 1,767,139,190.28 -4.50% 1,949,065,511.09 2,000,045,896.89
Net profit 69,394,739.70 37,561,269.90 45,205,937.86 53.51% 90,467,495.89 99,840,560.41
attributable to
shareholders
of the listed
company
Net profit 11,073,317.26 24,402,351.04 24,402,351.04 -54.62% -77,117,634.13 -77,117,634.13
attributable to
shareholders
of the listed
company after
deducting non-
recurring profit
and loss
Net cash flows 297,224,389.69 239,470,643.15 256,729,989.46 15.77% 362,448,784.71 376,469,423.01
from operating
activities
Basic earnings 0.0564 0.0305 0.0367 53.68% 0.0735 0.0811
per share
(yuan/share)
Diluted 0.0564 0.0305 0.0367 53.68% 0.0735 0.0811
earnings per
share
(yuan/share)
Weighted 3.32% 1.87% 2.19% 1.13% 4.60% 4.95%
average ROE
(2) Main accounting data by quarter
Unit: RMB/yuan
Q1 Q2 Q3 Q4
Revenue 371,112,490.63 406,879,960.13 481,584,482.86 428,077,214.07
Net profit attributable 24,189,160.84 26,020,488.41 47,873,324.59 -28,688,234.14
to shareholders of
the listed company
Net profit attributable 25,084,379.37 30,609,825.68 24,108,610.13 -68,729,497.92
to shareholders of
the listed company
after deducting non-
recurring profit and
loss
Net cash flows from -33,776,231.90 111,592,494.02 -16,874,777.75 236,282,905.32
operating activities
Abstract of 2025 Annual Report of Shenzhen SEG Co., Ltd.
Whether there are significant differences between the above-mentioned financial indicators or its total number and the
relevant financial indicators disclosed in the Company’s quarterly reports and semi-annual report
?Yes □No
In December 2025, the Company completed a business combination under common control involving Shenzhen
Business Enterprises, retrospective adjustments were made to the financial statements of the comparative period.
Accordingly, the financial data by quarter disclosed in the annual report (including the data of the acquiree after
retrospective adjustment) differ from the relevant financial indicators previously disclosed in the quarterly reports and
semi-annual report.
(1) Total number of ordinary shareholders, number of preferred shareholders whose voting rights were
resumed and shareholdings of top 10 shareholders
Unit: share
Total Total
number of number of
Total ordinary preferred
Total number of preferred
number of shareholders shareholders
shareholders whose voting
ordinary at the end of whose
rights were resumed at the
shareholders 57,044 the month 55,776 voting rights 0 0
end of the month preceding
at the end of preceding were
the disclosure date of the
the reporting the resumed at
annual report
period disclosure the end of
date of the the reporting
annual report period
Shareholdings of top 10 shareholders (excluding shares lent through margin securities loan)
Shareholding Pledged, marked or frozen
Name of Nature of
percentage Number of shares Number of restricted shares
shareholder shareholder Share status Number
(%)
Shenzhen
State-owned Not
SEG Group 56.54% 696,163,182 0 0
legal person applicable
Co., Ltd.
LISHERYN Foreign 0
Not
ZHANMIN natural 0.65% 8,045,415 0
applicable
G person
Domestic 0
Liu Not
natural 0.62% 7,675,702 0
Guocheng applicable
person
Hong Kong 0
Securities Foreign legal Not
Clearing person applicable
Co., Ltd.
Domestic 0
Not
Jin Jun natural 0.38% 4,697,300 0
applicable
person
Domestic 0
Liu Not
natural 0.32% 3,943,746 0
Guohong applicable
person
Domestic 0
Xiao Not
natural 0.25% 3,120,400 0
Zhiming applicable
person
Domestic
Gong Not
natural 0.24% 2,940,000 0 0
Qianhua applicable
person
Abstract of 2025 Annual Report of Shenzhen SEG Co., Ltd.
China 0
Merchants
Bank—
Southern
Not
Asset Others 0.22% 2,732,900 0
applicable
Management
CSI
Smallcap
Domestic 0
Not
Ye Caipeng natural 0.21% 2,584,327 0
applicable
person
Description on the related
relationship or persons There is no related party relationship between Shenzhen SEG Group Co., Ltd. and other shareholders, nor are
acting-in-concert they persons acting in concert as stipulated in the Administrative Measures on Acquisition of Listed Companies.
arrangements among the It is unknown to the Company whether other shareholders are related parties or persons acting in concert.
above shareholders
Jin Jun, a domestic natural person, holds 4,697,300 shares of the Company, of which 4,697,300 shares are held
Description on the through the credit account of a margin trading and securities lending investor. Xiao Zhiming, a domestic natural
shareholders' participation in person, holds 3,120,400 shares of the Company, of which 3,119,500 shares are held through the credit account of
margin trading and securities a margin trading and securities lending investor. Ye Caipeng, a domestic natural person, holds 2,584,327 shares
lending business (if any) of the Company, of which 2,584,327 shares are held through the credit account of a margin trading and securities
lending investor.
Participation of margin securities loan by shareholders holding more than 5% of total shares, top 10 shareholders, and
top 10 shareholders without selling restrictions
□Applicable ?Not applicable
Changes of top 10 shareholders and top 10 shareholders without selling restrictions over the previous period due to
the lending or return of shares lent through margin securities loan
□Applicable ?Not applicable
(2) Number of Preferred Shareholders and Shares Held by Top 10 Preferred Shareholders
□Applicable ?Not applicable
In the reporting period, no shareholders held preferred shares.
(3) Diagram on equity and control relationship between the Company and actual controllers
State-owned Assets
Supervision and
Administration Commission of
Shenzhen Municipal People’s
Government
Shenzhen Kunpeng Equity
Shenzhen State Owned Equity Shenzhen Investment Shenzhen Capital Holdings China Orient Asset China Great Wall Asset Department of Finance of
Investment Management
Management Co., Ltd. Holdings Co., Ltd. Co., Ltd. Management Co., Ltd. Management Co., Ltd. Guangdong Province
Co., Ltd.
Shenzhen SEG Group Co., Ltd.
Shenzhen SEG Co., Ltd.
Abstract of 2025 Annual Report of Shenzhen SEG Co., Ltd.
□Applicable ?Not applicable
III. Important Events
Overview Date of disclosure Query index on interim report disclosure website
Performance Forecast for 2024 released on CNINFO
(http://www.cninfo.com.cn/)
Notice on the Resignation of Chairman and By-Election of
Directors of the Company and Notice on the Resolution of the
CNINFO (http://www.cninfo.com.cn/)
Notice on the Resolution of the 1st Interim General Meeting in
of the 8th Board of Directors released on CNINFO
(http://www.cninfo.com.cn/)
Notice on the Retirement and Resignation of Supervisors of the
Company released on CNINFO (http://www.cninfo.com.cn/)
Notice on the Resolution of the 59th Interim Meeting of the 8th
Board of Directors, Notice on the Change of Directors, and
Notice on the Change of Supervisors released on CNINFO
supervisors and senior (http://www.cninfo.com.cn/)
management members of the
Company
Notice on the Resolution of the 60th Interim Meeting of the 8th
Board of Directors, Notice on the Resolution of the 2nd Interim
Independent Directors of the Company released on CNINFO
(http://www.cninfo.com.cn/)
Notice on the Resolution of the 3rd Interim General Meeting in
released on CNINFO (http://www.cninfo.com.cn/)
Notice on the Appointment of Board Secretary of the Company
released on CNINFO (http://www.cninfo.com.cn/)
Notice on the Resolution of the 56th Interim Meeting of the 8th
(http://www.cninfo.com.cn/)
Notice on the Resolution of the 60th Interim Meeting of the 8th
special committees of the Board
(http://www.cninfo.com.cn/)
Notice on the Resolution of the 62nd Interim Meeting of the 8th
(http://www.cninfo.com.cn/)
Notice on Purchasing Wealth Management Products with Own
Idle Funds released on CNINFO (http://www.cninfo.com.cn/)
management products with own
idle funds Notice on the Resolution of the 30th (2024) Shareholders
(http://www.cninfo.com.cn/)
Notice on the Company's Provision for Impairment of Various
(http://www.cninfo.com.cn/)
Abstract of 2025 Annual Report of Shenzhen SEG Co., Ltd.
Overview Date of disclosure Query index on interim report disclosure website
Notice on the Resolution of the 30th (2024) Shareholders
(http://www.cninfo.com.cn/)
Notice on the Profit Distribution and Transfer of Capital
(http://www.cninfo.com.cn/)
Notice on the Resolution of the 30th (2024) Shareholders
(http://www.cninfo.com.cn/)
Notice on the Implementation of the 2024 Annual Equity
Distribution released on CNINFO (http://www.cninfo.com.cn/)
Announcement on the Engagement of the Auditing Agency in
agency in 2025
Notice on the Resolution of the 3rd Interim General Meeting in
Notice on the Plan to Sell Stock Assets released on CNINFO
(http://www.cninfo.com.cn/)
Notice on the Resolution of the 4th Interim General Meeting in
Notice on the Completion of Sale of Stock Assets released on
CNINFO (http://www.cninfo.com.cn/)
The Notice on the Progress of Not-to-Compete Commitments
businesses
(http://www.cninfo.com.cn/)
Governance (ESG) Report of the 2025/10/30 Company for 2024 released on CNINFO
Company for 2024 (http://www.cninfo.com.cn/)
Revision Draft of the Articles of Association and Revision
CNINFO (http://www.cninfo.com.cn/)
Association
Notice on the Resolution of the 5th Interim General Meeting in
(http://www.cninfo.com.cn/)
Notice on Participating in the Collective Reception day for
listed companies in Shenzhen in
(http://www.cninfo.com.cn/)
Certified Public Accountant released on CNINFO (http://www.cninfo.com.cn/)
Notice on Acquisition of 81% Equity in Shenzhen 863 New
Transaction, Audit Report on the Financial Statements of
Shenzhen 863 New Material and Technology Co., Ltd., and
Abstract of 2025 Annual Report of Shenzhen SEG Co., Ltd.
Overview Date of disclosure Query index on interim report disclosure website
Asset Valuation Report on the Project of the Valuation of All
Shareholders’ Equity of Shenzhen 863 New Material and
Technology Co., Ltd. in Connection with the Proposed Equity
Acquisition by Shenzhen SEG Co., Ltd. released on CNINFO
(http://www.cninfo.com.cn/)
Notice on Completion of State-Owned Assets Valuation Filing
(http://www.cninfo.com.cn/)
Notice on the Resolution of the 6th Interim General Meeting in
Notice on Progress of Acquisition of 81% Equity in Shenzhen
Transaction released on CNINFO (http://www.cninfo.com.cn/)
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