Report for First Quarter of 2026
Stock Code: 600057 Stock Abbreviation: Xiamen Xiangyu
Xiamen Xiangyu Co., Ltd.
Report for First Quarter of 2026
The Board of Directors and all Directors of the Company shall guarantee that there is no
false recordation, misleading statement, or material omission in contents of this
Announcement, and shall assume the legal liability for authenticity, accuracy and
completeness of such contents.
Notes to Important Items:
The Board of directors, the Board of Supervisors, as well as Directors, Supervisors and Senior
Management of the Company shall guarantee the authenticity, accuracy, and completeness of
the contents of the Quarterly Report without any false recordation, misleading statement, or
material omission, and shall assume the joint and several legal liabilities.
The person in charge of the Company, the person in charge of financial affairs, and the leading
member of the accounting body (the person in charge of accounting) shall guarantee the
authenticity, accuracy and completeness of the financial information in the Quarterly Report.
Whether the financial statements for the first quarter are audited or not
□Yes √No
I. Overview of Operating Performance in the First Quarter
Faced with a complex and volatile market environment, the Company adheres to the strategic
philosophy of "Based on supply chains, serving industrial chains and creating value chains".
On the one hand, the company accelerates the reform of organizational structure, establ ishes
the Resources Business Unit and International Business Unit, and sets up the Logistics
Industry Sub-group. The Company advances the strategic layout of upstream resources and
global business expansion, optimizes the industrial logistics service syste m, and unlocks the
efficiency of resource integration. On the other hand, the company further deepens the
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
diversified operation model covering Capital, Trade, Logistics, Services, Industry and
Investment, and continuously consolidates and enhances its core strengths in industrial and
supply chains. The operating scale of major commodities including steel, iron ore, nickel ore
and coal achieved substantial growth. During the reporting period, the Company recorded
operating income of RMB 99.1 billion, a year-on-year increase of 2.05%; the net profit
attributable to shareholders of the parent company amounted to RMB 521 million, rising by
In terms of bulk commodity business, the total operating volume reached 64 million tons, a
year-on-year increase of 17%. The operating volume and spot-futures gross profit of the metal
mineral and energy & chemical sectors achieved notable growth, among which the year -on-
year growth of spot-futures gross profit exceeded 50% for both sectors.
In the bulk commodity logistics sector, the integration of industrial logistics and professional
logistics has been accelerated with continuous improvement in service capabilities. Both the
operating revenue and gross profit of industrial logistics registered a year -on-year growth of
over 80%.
As for the manufacturing segment, the brand influence of the shipbuilding business in the
global market for medium-sized bulk carriers and special chemical tankers keeps rising.
Following the completion of transformation and upgrading of Qidong Shipyard, production
capacity has been further expanded. A total of 10 new ship orders were signed during the
reporting period, and the number of orders on hand stood at 118 vessels at the end of the
period.
In respect of international development, relying on the development pattern of “supply chain
leadership, logistics support, localized operation and investment-driven growth”, and
leveraging high-quality customer resources and mature global channels accumulated over the
years, the Company continues to expand its global layout and optimize business structure. The
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
revenue proportion of international bulk commodity business has increased, demonstrating a
strong development momentum.
II. Key financial data
(1) Key accounting data and financial indicators
Unit: million Yuan Currency: RMB
Current reporting
Item The same period last year Changes on a YoY basis (%)
period
Operating revenue 99,121.46 97,134.80 2.05
Total profit 656.93 724.05 -9.27
Net profit attributable to
shareholders of the listed 521.37 509.06 2.42
company
Net profit attributable to
shareholders of the listed
company after deducting the
non-recurring profit and loss
Net cash flow from
-7,708.93 -9,193.10 Not applicable
operating activities
Basic earnings per share
(Yuan/share)
Diluted earnings per share
(Yuan/share)
Weighted average return on
equity (%)
At the end of Changes compared to the
At the end of last year
reporting period end of last year (%)
Total assets 135,164.12 128,697.05 5.03
Owner’s equity attributable
to the shareholders of the 34,030.12 31,653.38 7.51
listed company
Remark:
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
The net profit attributable to shareholders of the listed company in the above table during the
reporting period includes the interest of RMB 145 million attributable to perpetual bond holders
during the reporting period. After deduction, the net profit attributable to shareholders of the listed
company during the reporting period is RMB 377 million. Perpetual bonds and interest were
deducted when calculating the above-mentioned major financial indicators such as basic
earnings per share, diluted earnings per share, and weighted average return on equity.
(2) Non-recurring profit and loss items and amounts thereof
√Applicable □Not Applicable
Unit: Yuan Currency: RMB
Amount in current
Non-recurring profit and loss items Remark
reporting period
The disposal gains and losses of non-
current assets, including the reversal of
previously recognized asset impairment
provisions
The government subsidies (except for
those closely related to the Company’s
normal business operations, in line with
national policies, and continuously 163,185,742.77
available at certain standard quota or
ration) included in the current profit and
loss
Mainly including the changes in fair
value recognized in profit or loss
Except for the effective hedging business
and the gains and losses on
related to the Company’s normal
disposal arising from the hedging
business operations, the changes in fair
against the fluctuation in commodity
value recognized in profit or loss derived
price and exchange rate by the
from holding financial assets and -1,277,487,445.37
Company with futures instrument
financial liabilities by non-financial
and foreign exchange contract in
enterprises, and the gains and losses
order to support the spot operation
arising from the disposal of financial
of the main business, which are
assets and financial liabilities
closely related to the operating profit
and loss of the main business.
Capital occupation fees charged to non-
financial enterprises included in current 24,965,609.11
profit and loss
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
Reversal of the impairment provision for
receivables of which the impairment tests 5,216,630.16
are carried out separately
Trustee fee from entrusted operations 1,686,320.75
Other non-operating incomes and
expenses than those mentioned above
Minus:
-285,580,142.83
Amount of income tax consequence
Amount of minority equity
-111,211,143.86
consequence (after tax)
Total -607,487,880.40
For items not listed in the Explanatory Announcement on Information Disclosure for Companies
Offering Securities to the Public No.1 - Non-recurring Gains and Losses but defined as non-
recurring gains or losses by the Company with material amount, as well as the non-recurring
profit and loss items listed in Explanatory Announcement on Information Disclosure for
Companies Offering Securities to the Public No.1 - Non-recurring Gains and Losses but defined
as recurring gains and losses by the Company, explanations should be provided.
□Applicable √Not Applicable
(3) The circumstances and causes for occurrence of changes in the key accounting data and
financial indicators
√Applicable □Not Applicable
Proportion of
Name of item Main cause
change (%)
Mainly attributable to the year-on-year increase in net
profit attributable to shareholders of the listed company
and the year-on-year decrease in non-recurring gains
Net profit attributable to and losses. The year-on-year decline in the Company’s
shareholders of the listed non-recurring gains and losses is mainly due to
company after deducting the 735.54 fluctuations in the futures prices of some products, which
non-recurring profit and loss resulted in losses from futures hedging operations
current reporting period arranged to support spot business operations.
Nevertheless, combined with spot business income, the
overall operating performance remained stable,
effectively hedging the risks of price fluctuations.
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
III. Information on shareholders
(1) The total number of common shareholders, the number of preferred shareholders whose
voting rights are restored, and the shares held by top ten shareholders
Unit: Share
Total number of Total number of preferred shareholders whose
shareholders at the end of 37,495 voting rights are restored at the end of the No
the reporting period reporting period (if any)
Shareholding status of the top 10 shareholders (excluding shares lent through refinancing)
Pledge, Marking, or
Proportion of Number of Freezing
Nature of Number of
Name of Shareholder Shareholding Restricted
Shareholder Shares Held Status
(%) Shares Held of Quantity
Share
Xiamen Xiangyu Group State-owned
Corporation legal person
China Merchants Group State-owned
Limited legal person
Shandong Port Group Co., State-owned
Ltd. legal person
National Social Security
Others 63,895,430 2.25 0 No 0
Fund Portfolio 114
Xiamen CCRE Group Co., State-owned
Ltd. legal person
Hong Kong Securities Overseas legal
Clearing Company Ltd. person
ChinaAMC CNI Free Cash
Others 39,491,900 1.39 0 No 0
Flow ETF
China Agricultural
State-owned
Reclamation Industry 38,649,050 1.36 0 No 0
legal person
Development Fund (L.P.)
Xiangyu Real Estate Group State-owned
Co., Ltd. legal person
Property and Casualty
Company Limited(PICC) - Others 15,079,354 0.53 0 No 0
Own Funds
Shareholding status of the top 10 unrestricted shareholders (excluding shares lent through refinancing)
Class and number of shares
Name of Shareholder Number of unrestricted outstanding shares held Class of Number
shares
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
RMB
Xiamen Xiangyu Group
Corporation
shares
RMB
National Social Security
Fund Portfolio 114
shares
RMB
Xiamen CCRE Group Co.,
Ltd.
shares
RMB
Hong Kong Securities
Clearing Company Ltd.
shares
RMB
ChinaAMC CNI Free Cash
Flow ETF
shares
China Agricultural RMB
Reclamation Industry 38,649,050 ordinary 38,649,050
Development Fund (L.P.) shares
RMB
Xiangyu Real Estate Group
Co., Ltd.
shares
Property and Casualty RMB
Company Limited(PICC) - 15,079,354 ordinary 15,079,354
Own Funds shares
Zhongou Prosperity RMB
Selection Hybrid Securities 12,550,000 ordinary 12,550,000
Investment Fund shares
RMB
E Fund CSI Dividend ETF 11,956,569 ordinary 11,956,569
shares
Xiangyu Real Estate Group Co., Ltd. is a wholly-owned subsidiary of Xiamen Xiangyu
Note to association or Group Corporation. The Company is not aware that whether there is any association
concerted action of aforesaid between the other aforesaid shareholders, or whether the other aforesaid shareholders
shareholders are the person acting in concert as stipulated in the “Administration of the Takeover of
Listed Companies Procedures”.
Notes to participation on top
unrestricted shareholders in Not applicable
securities margin trading and
refinancing business (if any)
Share lending status of shareholders holding more than 5%, the top 10 shareholders, and the
top 10 unrestricted circulating shareholders participating in refinancing.
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
□Applicable √Not Applicable
The top 10 shareholders and the top 10 unrestricted circulating shareholders have changed
compared to the previous period due to lending/returning shares for refinancing.
□Applicable √Not Applicable
IV. Other reminders
Other important information on the Company’s operating conditions during the reporting period
that investors shall be reminded of
□Applicable √Not Applicable
V. Quarterly financial statements
(1) Type of auditor’s opinions
□Applicable √Not Applicable
(2) Financial statements
Consolidated Balance Sheet
As at March 31, 2026
Prepared by: Xiamen Xiangyu Co., Ltd.
Unit: Yuan Currency: RMB Type of Audit: Unaudited
Item March 31, 2026 December 31, 2025
Current assets:
Cash and cash equivalents 20,974,042,499.15 19,869,475,961.27
Deposit reservation for balance
Lending to Banks and Other Financial
Institutions
Held-for-trading financial assets 1,294,281,019.76 1,050,118,887.32
Derivative financial assets 1,223,078,523.17 318,412,693.20
Notes receivable 837,121,764.22 883,561,541.66
Accounts receivable 15,716,672,792.24 16,184,340,302.02
Financing of receivables 459,147,556.33 407,297,760.99
Prepayments 18,944,316,917.28 16,838,083,914.69
Premiums receivable
Reinsurance accounts receivable
Provision of cession receivable
Other receivables 9,350,579,574.09 8,651,386,195.13
Including: Interests receivable
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
Item March 31, 2026 December 31, 2025
Dividends receivable
Redemptory monetary capital for sale
Inventories 38,314,392,796.62 31,947,330,840.79
Including: data resources
Contract assets 690,654,607.31 688,846,619.76
Held-for-sale assets
Non-current assets due within one year 55,217,028.34 6,379,963,852.98
Other current assets 7,112,435,867.94 5,306,936,142.69
Total current assets 114,971,940,946.45 108,525,754,712.50
Non-current assets:
Loan and advance in cash
Investment in creditor’s right
Other investments in creditor’s right
Long-term receivables 49,735,989.25 36,372,747.88
Long-term equity investment 1,731,918,584.53 1,711,344,614.84
Investment in other equity instruments 141,649,207.97 258,343,483.90
Other non-current financial assets 35,102,440.76 35,240,084.32
Investment properties 1,621,213,415.87 1,549,563,397.95
Fixed assets 9,882,937,251.22 10,095,345,801.06
Construction in progress 337,237,273.95 188,846,985.94
Productive biological assets
Oil and gas assets
Right-of-use assets 463,508,504.17 493,792,533.31
Intangible assets 2,113,014,284.25 2,186,416,650.25
Including: data resources
Development expenditure 322,264.15 322,264.15
Including: data resources
Goodwill 12,669,186.90 12,669,186.90
Long-term unamortized expenses 139,815,926.17 143,742,019.36
Deferred income tax assets 3,428,951,910.59 3,099,342,742.14
Other non-current assets 234,097,960.15 359,953,198.20
Total non-current assets 20,192,174,199.93 20,171,295,710.20
Total assets 135,164,115,146.38 128,697,050,422.70
Current liabilities:
Short-term borrowing 20,363,375,462.86 15,948,382,250.49
Borrowings from central bank
Loans from other banks and other financial
institutions
Trading financial liabilities 39,106,881.75 27,880,112.47
Derivative financial liabilities 3,111,920,784.53 2,840,238,743.04
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
Item March 31, 2026 December 31, 2025
Notes payable 32,514,917,740.27 37,633,949,631.13
Accounts payable 10,971,123,245.01 11,991,532,208.63
Account collected in advance 37,476,168.09 39,557,865.08
Contract liabilities 16,123,578,860.23 12,109,801,713.47
Financial assets sold for repurchase
Deposits from customers and interbank
Acting trading securities
Acting underwriting securities
Payroll payable 741,698,658.68 1,204,123,846.39
Taxes payable 598,859,073.96 792,105,075.93
Other payables 1,630,067,419.95 1,544,652,634.37
Including: Interests payable
Dividends payable 225,883,786.99 265,979,490.95
Handling charges and commissions
payable
Accounts payable for reinsurance
Held-for-sale liabilities
Non-current liabilities due within one year 2,871,149,380.95 2,338,899,534.11
Other current liabilities 2,954,717,861.22 1,363,878,704.27
Total current liabilities 91,957,991,537.50 87,835,002,319.38
Non-current liabilities:
Provision for insurance contracts
Long-term borrowings 1,644,530,212.17 1,604,580,589.61
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 297,982,598.45 329,061,368.74
Long-term payables 10,130,973.26 17,966,840.97
Long-term payroll payable 491,410,587.90 500,361,126.44
Estimated liabilities
Deferred income 252,913,638.94 259,316,911.80
Deferred income tax liabilities 92,144,890.39 83,177,375.01
Other non-current liabilities 15,468,543.95 12,847,111.13
Total non-current liabilities 2,804,581,445.06 2,807,311,323.70
Total liabilities 94,762,572,982.56 90,642,313,643.08
Owner’s equity (or shareholders’ equity):
Paid-up capital (or capital stock) 2,840,589,339.00 2,840,589,339.00
Other equity instruments 18,265,000,000.00 16,265,000,000.00
Including: Preferred shares
Perpetual bonds 18,265,000,000.00 16,265,000,000.00
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
Item March 31, 2026 December 31, 2025
Capital reserve 5,795,949,016.93 5,781,882,037.34
Less: Treasury stock 478,387,071.23 478,387,071.23
Other comprehensive income -11,651,809.15 89,518,952.72
Appropriative reserve 973,167.70 959,171.46
Surplus reserve 927,814,189.02 927,814,189.02
General risk reserve
Undistributed profits 6,689,832,632.21 6,226,007,231.15
Total owner’s equity (or shareholders’
equity) attributable to parent company
Minority equity 6,371,422,699.34 6,401,352,930.16
Total owner’s equity (or shareholders’
equity)
Total liabilities and owner’s equity (or
shareholders’ equity)
Person in charge of Company: Jie Wu Person in charge of financial affairs: Zhuquan Su
Leading member of accounting body: Jing Lin
Consolidated Income Statement
January – March 2026
Prepared by: Xiamen Xiangyu Co., Ltd.
Unit: Yuan Currency: RMB Type of Audit: Unaudited
Item First Quarter of 2026 First Quarter of 2025
I. Total operating revenue 99,121,458,776.50 97,134,797,634.12
Including: Operating revenue 99,121,458,776.50 97,134,797,634.12
Interest income
Insurance premium earned
Handling charges and commissions income
II. Total operating cost 97,398,703,473.72 96,819,935,074.81
Including: Operating cost 96,131,835,302.42 95,526,192,420.93
Interest expense
Handling charge and commissions expense
Surrender value
Net payment of insurance claims
Net provision in insurance reserve
Policy dividend
Amortized reinsurance expenditures
Taxes and surcharges 128,509,022.36 114,865,967.86
Selling expenses 484,729,148.91 517,996,080.59
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
Item First Quarter of 2026 First Quarter of 2025
Administrative expenses 335,040,901.24 299,485,440.15
Research & development expense 26,336,917.20 13,828,190.34
Financial expense 292,252,181.59 347,566,974.94
Including: Interest expense 183,687,671.05 223,909,577.42
Interest income 72,024,950.85 112,582,528.23
Add: Other income 173,259,285.31 191,616,077.74
Income from investment (Loss to be filled in
-1,312,617,595.83 240,257,057.73
with “-”)
Including: Income from investment in
associated enterprise and joint venture
Income from derecognition of
-3,636,017.68 -17,170.83
financial assets measured at amortized cost
Profit or loss on exchange (Loss to be filled
in with “-”)
Net profit on exposure hedging (Loss to be
filled in with “-”)
Income from change in fair value (Loss to
be filled in with “-”)
Loss on credit impairment (Loss to be filled
-15,382,755.77 28,278,286.29
in with “-”)
Asset impairment loss (Loss to be filled in
-54,567,236.95 -259,807,908.20
with “-”)
Income from disposal of assets (Loss to be
filled in with “-”)
III. Operating profit (Loss to be filled in with “-”) 602,156,607.37 685,420,435.11
Add: Non-operating income 93,702,450.94 56,308,340.89
Less: Non-operating expense 38,932,326.71 17,674,971.76
IV. Total profits (Total losses to be filled in with “-”) 656,926,731.60 724,053,804.24
Less: Income tax expense(Note I) -13,020,772.50 78,857,738.97
V. Net profit (Net loss to be filled in with “-”) 669,947,504.10 645,196,065.27
(I) Classified by sustainability operation
loss to be filled in with “-”)
(Net loss to be filled in with “-”)
(II) Classified by attribution of ownership
of the parent company (Net loss to be filled in with 521,369,392.66 509,063,945.72
“-”)
filled in with “-”)
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
Item First Quarter of 2026 First Quarter of 2025
VI. Net-of-tax other comprehensive income -22,839,346.59 -246,741,197.27
(I) Net-of-tax other comprehensive income
-14,021,876.77 -238,287,549.91
attributable to the parent company
be reclassified as profit and loss
(1) Amount of changes in re-measurement of
defined benefit plans
(2) Other comprehensive income that cannot
be transferred to profit and loss under the equity
method
(3) Change in fair value of other investments
in equity instruments
(4) Changes in fair value of enterprise’s own
credit risk
-59,095,306.78 -219,414,956.60
reclassified as profit and income
(1) Other comprehensive income that can be
transferred to profit and loss under the equity -3,451,887.70 391,029.60
method
(2) Changes in fair value of other investments
on bonds
(3) Amount of financial assets reclassified
and included in other comprehensive income
(4) Provision for credit impairment of other
investments in bonds
(5) Reserve for cash flow hedge 69,649,941.12 -203,599,580.45
(6) Translation difference of foreign currency
-125,293,360.20 -16,206,405.75
financial statements
(7) Others
(II) Net-of-tax other comprehensive income
-8,817,469.82 -8,453,647.36
attributable to the minority
VII. Total comprehensive income 647,108,157.51 398,454,868.00
(I) Total comprehensive income attributable to
the owners of the parent company
(II) Total comprehensive income attributable to
the minority
VIII. Earnings per share:
(I) Basic earnings per share (Yuan/share) 0.13 0.17
(II) Diluted earnings per share (Yuan/share) 0.13 0.17
Note I: The current income tax expense is negative, mainly because loss-making subsidiaries
within the consolidation scope recognize deferred tax assets, which serve as an offset to
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
income tax expense. Coupled with the impact of differences in the tax burden structure of
subsidiaries, the consolidated income tax expense turns negative on a comprehensive basis.
Note II: In case of the merger of enterprises under the same control occurring in the current
period, the net profit realized by the merged party before the merger shall be RMB 0.00, and
the net profit realized by the merged party in the previous period shall be RMB 0.00.
Person in charge of Company: Jie Wu Person in charge of financial affairs: Zhuquan Su
Leading member of accounting body: Jing Lin
Consolidated Cash Flow Statement
January – March 2026
Prepared by: Xiamen Xiangyu Co., Ltd.
Unit: Yuan Currency: RMB Type of Audit: Unaudited
Item First Quarter of 2026 First Quarter of 2025
I. Cash flow from operating activities:
Cash receiving from sales of
goods and rendering of services
Net increase in customer deposit
and deposit from other banks
Net increase in borrowing from
central bank
Net increase in funds borrowed
from other financial institutions
Cash obtained by receipt of
premiums from original insurance
contracts
Net cash received from
reinsurance business
Net increase in deposit of insured
and investment
Cash received from interests,
handling charges, and commissions
Net increase in loans from other
banks and other financial
institutions
Net increase in funds for
repurchase business
Net cash received from acting
trading securities
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
Item First Quarter of 2026 First Quarter of 2025
Refund of tax received 316,341,447.28 437,646,249.18
Other cash received in relation to
operating activities
Subtotal of cash inflow from
operating activities
Cash paid for sales of goods and
rendering of services
Net increase in customer loans
and advances
Net increase in deposit in the
Central Bank and other banks
Cash paid for claims under the
original insurance contract
Net increase in lending to banks
and other financial institutions
Cash paid for interest, handling
charges, and commissions
Cash paid for policy dividend
Cash paid to and for the
employees
Taxes paid 968,989,979.17 904,286,619.23
Other cash paid in relation to
operating activities
Subtotal of cash outflow from
operating activities
Net cash flow from operating
-7,708,925,019.22 -9,193,100,608.70
activities
II. Cash flow from investment activities
Cash receiving from investment
withdrawal
Cash receiving from return on
investment
Net amount of cash receiving
from disposal of fixed assets,
intangible assets, and other long-
term assets
Net amount of cash receiving
from disposal of subsidiary and
other business unit
Other cash receiving related to
investment activities
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
Item First Quarter of 2026 First Quarter of 2025
Subtotal of cash inflow from
investment activities
Cash paid to acquire fixed assets,
intangible assets, and other long- 217,180,431.08 167,771,285.71
term assets
Cash paid to acquire investment 4,878,069,841.00 2,225,034,610.32
Net increase in pledge loan
Net amount of cash paid to
acquire subsidiary and other
business unit
Other cash paid related to
investment activities
Subtotal of cash outflow from
investment activities
Net cash flow from
investment activities
III. Cash flow from financing activities:
Cash received from investment
by others
Including: Cash received from
subsidiary investments from 1,457,434.71 423,650,000.00
minority shareholders
Cash receiving from borrowings 27,647,006,327.09 32,181,212,434.77
Other cash receiving related to
financing activities
Subtotal of cash inflow from
financing activities
Cash paid for repayment of debt 21,544,059,512.81 27,125,437,550.91
Cash paid for distribution of
dividend, profit or payment of 501,709,242.49 452,942,938.51
interest
Including: Dividend and profit paid
by subsidiary to minority 185,771,603.47 131,379,997.68
shareholders
Other cash paid relating to
financing activities
Subtotal of cash outflow from
financing activities
Net cash flow from financing
activities
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
Report for First Quarter of 2026
Item First Quarter of 2026 First Quarter of 2025
IV. Effect of exchange rate
changes on cash and cash -79,159,116.88 -30,776,691.57
equivalents
V. Net increase in cash and cash
equivalents
Add: Beginning balance of cash
and cash equivalents
VI. Ending balance of cash and
cash equivalents
Person in charge of Company: Jie Wu Person in charge of financial affairs: Zhuquan Su
Leading member of accounting body: Jing Lin
(3) The implementation of new accounting standards or the new interpretations to the
accounting standards since 2026 involves the adjustment of the financial statements at the
beginning of the year when they are implemented for the first time.
□Applicable √Not Applicable
It is hereby announced.
The Board of Directors of Xiamen Xiangyu Co., Ltd.
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
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