一汽解放：2025年年度报告（英文版）

FAWJIEFANGGROUPCO.,LTD AnnualReport2025 March2026 SectionIImportantNotes,ContentsandDefinitions TheBoardofDirectors,theDirectors,andSeniorManagementoftheCompanyguaranteethatthecontentsofthisAnnualReportaretrue,accurate,andcomplete,that there are no false records,misleading statements,ormaterialomissions,andthattheyshallbearindividualandjointlegalliability. LiSheng,thepersoninchargeoftheCompany,YuChangxin,thepersonincharge of accounting work,and Yang Li,the person in charge of theaccountingorganization(chiefaccountant),herebydeclareandguaranteetheauthenticity,accuracy,andcompletenessofthefinancialreportinthisAnnualReport. Thisannualreportincludesprospectivestatements,suchasfutureplans,anddoesnotconstituteasubstantialcommitmentoftheCompanytoinvestors.Investorsandrelevantpersonsshouldmaintainsufficientriskawarenessofthisandunderstandthedifferencesbetweenplans,forecasts,andcommitments. TheCompany has described in detail the possible risks andcountermeasuresforits future development in the section of ManagementDiscussionandAnalysis.Investorsarekindlyrequestedtopayattentionto relevantcontents.ChinaSecuritiesJournal,SecuritiesTimesandCNINFO(http://www.cninfo.com.cn)arethedesignatedinformationdisclosuremediaselectedbytheCompany.AllinformationoftheCompanyissubjecttothatpublishedintheaboveselectedmedia.Investorsarekindlyrequestedtopayattentiontoinvestmentrisks. TheprofitdistributionplanapprovedbythismeetingoftheBoardofDirectorsisasfollows:basedonatotalof4,921,280,975shares,acashdividendofCNY 0.45 per 10 shares(tax inclusive)shall be distributed to allshareholders,with no bonus shares distributed(tax inclusive),and noconversionofcapitalreservesintosharecapital. ThisReporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail. TableofContents SectionIImportantNotes,ContentsandDefinitions..............................................2SectionIICompanyProfileandMainFinancialIndicators...................................7SectionIIIManagementDiscussionandAnalysis..................................................15SectionIVCorporateGovernance,Environment,andSocialResponsibility.....63SectionVImportantMatters..................................................................................104SectionVIChangesinSharesandShareholders..................................................136SectionVIIBonds.....................................................................................................151SectionVIIIFinancialReport.................................................................................152 ListofDocumentsforFutureReference 1.Financial statements signed and sealed by the person in charge of theCompany,thepersoninchargeofaccountingandthepersoninchargeoftheaccountingorganization(chiefaccountant). 2.Theoriginalauditreportbearingthesealoftheaccountingfirmandthesignaturesandsealsofthecertifiedpublicaccountants. 3.Originalsofallcompanydocumentsandannouncementspubliclydisclosedonthe website designated by China Securities Regulatory Commission in thereportingperiod. Interpretation SectionIICompanyProfileandMainFinancialIndicators I.CompanyInformation II.ContactPersonandContactInformation III.InformationDisclosureandKeepingLocation IV.ChangesinRegistration V.OtherRelevantData AccountingfirmhiredbytheCompany SponsorinstitutionemployedbytheCompanytoperformcontinuoussupervisiondutiesinthereportingperiod FinancialconsultantemployedbytheCompanytoperformcontinuoussupervisiondutiesinthereportingperiod VI.MainAccountingDataandFinancialIndicators WhethertheCompanyneedstoretroactivelyadjustorrestatetheaccountingdataofpreviousyears □YesNo ThelowernetprofitoftheCompanybeforeorafterthedeductionofnon-recurringprofitsandlossesinthelastthreefiscalyearsisnegative,andtheauditreportofthemostrecentyearshowsthatthegoing-concernabilityoftheCompanyisuncertain □YesNo ThelowestoftheCompany’sauditedtotalprofit,netprofit,andnetprofitafterdeductingnon-recurringgainsandlossesduringthereportingperiodisnegative. □YesNo VII.DifferencesinAccountingDataunderDomesticandForeignAccountingStandards 1.Differences in Net Profits and Net Assets in the Financial Report Are DisclosedSimultaneouslyaccordingtotheInternationalAccountingStandardsandChinaAccountingStandards □ApplicableNotapplicable InthereportingperiodoftheCompany,thereisnodifferenceinnetprofitsandnetassetsinthefinancialreport disclosed according to the international accounting standards and Chinaaccountingstandards. 2.DifferencesinNetProfitsandNetAssetsintheFinancialReportDisclosedSimultaneouslyaccordingtoForeignAccountingStandardsandChinaAccountingStandards □ApplicableNotapplicable InthereportingperiodoftheCompany,thereisnodifferenceinnetprofitsandnetassetsinthefinancialreport disclosed according to foreign accounting standards and China accountingstandards. VIII.SeasonalMainFinancialIndicators Unit:CNY Isthereanysignificantdifferencebetweentheabovefinancialindicators