稀镁科技：2025年全年业绩公告

RARE EARTH MAGNESIUM TECHNOLOGY GROUP HOLDINGS LIMITED 601 2025 202512 312025202520264 30www.hkexnews.hkwww.remt.com.hk 2026331 http://www.remt.com.hk CONTENTS 44Independent Auditors’ Report52Consolidated Statement of Profit or Loss andOther Comprehensive Income54Consolidated Statement of Financial Position56Consolidated Statement of Changes in Equity58Consolidated Statement of Cash Flows60Notes to Financial Statements175Financial Summary 10Management Discussion and Analysis 18Corporate Governance Report 32Directors and Senior Management Profiles CORPORATE INFORMATION DIRECTORS Executive Directors: Shum Sai Chit(Chairman and Chief Executive Officer)Chi Sile Independent Non-executive Directors: Cheung Sound PoonSheng HongShen Yimin AUDIT COMMITTEE Cheung Sound Poon(Chairman)Sheng HongShen Yimin REMUNERATION COMMITTEE Shum Sai Chit(Chairman)Cheung Sound PoonSheng Hong NOMINATION COMMITTEE Shum Sai Chit(Chairman)Cheung Sound PoonSheng Hong COMPANY SECRETARY Fan Kwok Man, Raymond AUDITORS 8191903A-1905 Prism Hong Kong LimitedCertified Public AccountantsRegistered Public Interest Entity AuditorUnit 1903A-1905, 19/F.,8 Observatory Road,Tsim Sha Tsui,Hong Kong PRINCIPAL BANKERS O-Bank Co., LtdDBS Bank (Hong Kong) Limited CORPORATE INFORMATION (CONTINUED) REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM11Bermuda Clarendon House2 Church StreetHamilton HM11Bermuda PRINCIPAL PLACE OF BUSINESS 516 16th Floor, Tower 5The GatewayHarbour cityTsim Sha Tsui, KowloonHong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE IN BERMUDA Ocorian Management (Bermuda) LimitedVictoria Place, 5th Floor31 Victoria Street, PO Box HM 1624Hamilton HM 10Bermuda OcorianManagement(Bermuda)LimitedVictoria Place, 5th Floor31 Victoria Street, PO Box HM 1624Hamilton HM 10Bermuda BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE IN HONG KONG 1617 Tricor Secretaries Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong http://www.remt.com.hk WEBSITE http://www.remt.com.hk 00601 STOCK CODE 00601 202512 31 2025 20252025202516,5342024 0.8 On behalf of the Board of Directors (the“Board”) of Rare Earth Magnesium Technology Group Holdings Limited (the“Company”), I am pleased to present the annual results of the Company and its subsidiaries (collectively referred to as the“Group”) for the year ended 31 December 2025 (the“Year”) for the consideration of our shareholders. INDUSTRY REVIEW “2025: Standing Firm Amidst Challenges” The year 2025 witnessed the continued evolution of the global political and economic landscape, with the dual challengesof geopolitical risks and industrial chain restructuring creating persistent uncertainty in the commodity markets. Focusingon the magnesium industry, 2025 was a year where challenges and opportunities were deeply intertwined, and the industrylandscape underwent accelerated reshaping. On one hand, affected by the macroeconomic environment and weak demandrecovery in traditional downstream sectors, the supply-demand contradiction in the domestic magnesium market in mainlandremained prominent, putting magnesium prices under pressure throughout the year. According to industry data, the averagedomestic price of primary magnesium in 2025 was approximately RMB16,534 per tonne, a further decline compared to 2024,subjecting the industry to the severe test of costs exceeding selling prices. The low price levels, particularly at the beginningand end of the year, placed enormous operational pressure on all enterprises in the sector, including the Group. On the other hand, accompanying the pressure on magnesium prices was the continued decline in the magnesium-to-aluminium price ratio, which remained at a historic low of below 0.8 for most of the year. This exceptionally attractivecost advantage has created a historic market window for the large-scale substitution of aluminium alloys with magnesiummaterials. Importantly, strong policy support has acted as a catalyst for industry development. During the year, eightChinese government departments jointly issued a document explicitly listing the“continued expansion of the applicationof magnesium alloys in components such as forged wheels, large integrated castings, and motor housings for new energyvehicles”as a key task. This signifies that the large-scale application of magnesium alloys has officially been elevated to anational strategy in China. CHAIRMAN’S STATEMENT (CONTINUED) 20252026 2025 2025 BUSINESS REVIEW “Major Challenge: Funding Bottleneck for Environmental Upgrades” As previously reported, in order to implement the national policy requirements for promoting ultra-low emissions in thecoking industry, the local government where the Group’s subsidiary, Xinjiang Tengxiang Magnesium Products Co., Ltd.(“Xinjiang Tengxiang”), is located, required Xinjiang Tengxiang to complete the upgrade of its semi-coke production facilitiesby the end of 2025 to meet ultra-low emission standards. However, this upgrade re