张裕Ｂ：2025年半年度报告

2025Semi-annualReport Final2025-03 August28,2025 I.ImportantNotice,TableofContentsandDefinition Theboardofdirectors，theboardofsupervisors，directors,supervisorsandseniorexecutivesofthe Company guarantee the truthfulness,accuracy and completeness of the contentscontainedin the semi-annual report with no false records,misleading statements orsignificantomissions,andundertakeindividualandjointlegalliabilities. Mr.HongjiangZHOU(PersoninchargeoftheCompany)andMs.CuimeiGUO(Personinchargeofaccountingwork,Personinchargeofaccountingorgan&Accountantincharge)assurethetruthfulness,accuracyandcompletenessofthefinancialreportinthesemi-annualreport. Alldirectorsattendedthisboardmeetingforreviewingthissemi-annualreportinperson. Forward-lookingstatementssuchasfutureplansanddevelopmentstrategiescoveredinthisreportdonotconstituteasubstantialcommitmentoftheCompanytoinvestors.Investorsareadvisedtopayattentiontoinvestmentrisks. RegardingsignificantrisksthattheCompanymayfaceduringthebusinessprocess,pleasereferto“10.Risksandresponsemeasures”in“IIIDiscussionandAnalysisofManagementTeam”inthisreport.Investorsaresuggestedtoreadcarefullyandpayattentiontoinvestmentrisks. TheCompanyhasnoplantodistributecashdividendsandbonussharesandcapitalreservewillnotbetransferredtoequity. TableofContents I、ImportantNotice,TableofContentsandDefinition.................................................................2II、BriefIntroductionfortheCompanyandMainFinancialIndicators..................................6III、DiscussionandAnalysisofManagementTeam....................................................................9IV、CorporateGovernance,EnvironmentalandSocialResponsibility..................................29V、Majorissues.............................................................................................................................31VI、ChangesinSharesandtheShareholders’Situation...........................................................39VII、RelatedSituationofBonds..................................................................................................46VIII、FinancialReport...................................................................................................................46IX、OtherSubmittedData...........................................................................................................168 ReferenceDocuments (1)Theoriginalof2025Semi-annualReportautographedbytheChairman.(2)TheFinancialStatementsautographedandsealedbythechairman,chiefaccountantandaccountantsincharge.(3)TheProspectusandPublicOfferingAnnouncementforStockBin1997;TheProspectusandTheShares’Change&PublicOfferingAnnouncementforStockAin2000.(4)TheoriginalsofalldocumentsandannouncementsthattheCompanymadepublicduringthereportperiodinthenewspapersdesignatedbyChinaSecuritiesRegulatoryCommission. Definition II.BriefIntroductionfortheCompanyandMainFinancialIndicators 2.Contactpersonandinformation 3.Otherinformation 1)ContactinformationoftheCompany Whetherthere is any change in the Company’s registered address,office address,correspondingpostcode,websiteaddressandemailaddressduringthereportperiod □ApplicableInapplicable Thereis no change in the Company’s registered address,office address,correspondingpostcode,websiteaddressandemailaddressduringthereportperiod.Pleasereferto2024AnnualReportfordetailedinformation. 2)Informationdisclosureandfilinglocation Whetherthereisanychangeininformationdisclosureandfilinglocationduringthereportperiod □ApplicableInapplicable Thereisnochangeinthenameofthenewspaperforinformationdisclosure,theaddressofthewebsitedesignatedbytheChinaSecuritiesRegulatoryCommissionforpublishingthesemi-annualreport,andthefilinglocationoftheCompany’ssemi-annualreportselectedbytheCompanyduringthereportperiod.Pleasereferto2024AnnualReport fordetailedinformation. 3)Otherrelevantinformation Whetherthereisanychangeinotherrelevantinformationduringthereportperiod □ApplicableInapplicable 4.Keyaccountingdataandfinancialindicators Whetherthe Company needs to retrospectively adjust or restate the accounting data ofpreviousfiscalyears. YesNo 5.DifferencesinaccountingdataunderPRCaccountingstandardsandinternationalaccountingstandards 1)DifferencesofnetprofitandnetassetinthefinancialreportdisclosedaccordingtobothinternationalaccountingstandardsandPRCaccountingstandard □ApplicableInapplicable Thereare no differences for net profit and net assets in the financial report disclosedaccordingtobothinternationalaccountingstandardsandPRCaccountingstandardsduringthereportperiod. 2)DifferencesofnetprofitandnetassetinthefinancialreportdisclosedaccordingtobothforeignaccountingstandardsandPRCaccountingstandards □ApplicableInapplicable TherearenodifferencesofnetprofitandnetassetinthefinancialreportdisclosedaccordingtobothforeignaccountingstandardsandPRCaccountingstandardsduringthereportperiod. 6.Itemandamountofnon-recurringgainsandlosses ApplicableInapplicable Unit：CNY Specificsituation of other gains and losses projects conf