大唐环境产业集团股份有限公司2025年年报

CONTENTS CHAIRMAN’S STATEMENT DEAR SHAREHOLDERS, The year 2025 marks the successful conclusion of the 14th Five-Year Plan.Adhering to the central theme of high-quality development and anchoringour sights on becoming a premier integrated energy and environmentalservices provider, the Group advanced its “1461” development strategy.This approach yielded multiple breakthroughs in carbon monitoring,resource recycling, solid waste disposal, integrated intelligent energy, andnovel catalysts, progressively establishing a diversified industrial portfoliothat underpins sustainable, high-quality growth. During the 14th Five-Year Plan period, the Group recorded cumulative total profits of RMB1.9billion. The debt-to-equity ratio remained at a low level, while assetquality and structure showed marked improvement. The listed company’scomprehensive strength significantly enhanced, with substantially improvedoperational performance, steadily rising shareholder returns, progressivelyoptimised stock liquidity, and a share price demonstrating steady growth. 2025146119 2025 In 2025, we confronted numerous risks and challenges with perseveranceand determination. Through lean management, we enhanced capabilities intraditional core industries such as concession operations and environmentalengineering, continuously unlocking development potential. We prioritisedthe cultivation of strategic emerging industries as the cornerstone oftransformation, steadily broadening industrial boundaries to revitalise growthmomentum. We adhered to an innovation-driven development strategy,persistently increasing R&D investment to conquer core technologies.Leveraging the Deepening Reform Initiative, we comprehensively removeddevelopment barriers and stimulated endogenous momentum. Wecontinuously strengthened six capabilities: technological innovation, marketdevelopment, value creation, capital operations, compliant operations, andmodern governance. This achieved effective qualitative improvement andreasonable quantitative growth, laying a solid foundation for high-qualitydevelopment during the 15th Five-Year Plan period. CHAIRMAN’S STATEMENT (CONTINUED) 2026+8 Looking ahead to 2026, the inaugural year of the 15th Five-Year Plan, theGroup will maintain a dual-engine approach of “scientific innovation +environmental protection”, prioritising technological R&D as our core drivingforce. This will involve establishing three platforms: scientific innovation,investment development, and technical services. Our focus will be onadvancing four key industries: environmental pollution control, eco-friendlyproduct manufacturing, new energy technical services, and resourcerecycling. Across eight key domains - enhancing core competitiveness,fulfilling environmental stewardship, driving innovation outcomes, elevatingservice quality, advancing corporate governance, strengthening riskmitigation, maintaining stable operations, and upholding Party leadership- we shall rally confidence and resolve. Embracing our mission withunwavering commitment, we shall strive to deliver a new chapter of high-quality development during the 15th Five-Year Plan period. Chairman of the BoardZhu Liming 2026327 27 March 2026 COMPANY PROFILE 127220117201611 15202512 312,967,542,00078.96% The predecessor of the Company (stock code: 1272) was China DatangCorporation Group Environment Technology Co., Ltd. (), which was established in July 2011. Since the establishmentof the Company and after several years of rapid development and a seriesof business restructuring, the Company has been successfully listed onthe Main Board of the Stock Exchange since 15 November 2016. As at 31December 2025, the Company had a total of 2,967,542,000 issued Shares,among which the Controlling Shareholder, China Datang, holds, directly andindirectly, an aggregate of approximately 78.96%. The Group is the sole platform for the development of environmentalprotection and energy conservation business under China DatangCorporation, one of the major state wholly-owned power generation groupsin the PRC. The principal business of the Group includes environmentalprotection facility concession operation, denitrification catalysts,environmental protection facilities engineering, water treatment business,energy conservation business, resource recycling business, integratedintelligent energy business and engineering consulting services business. 20251231 FINANCIAL AND OPERATION HIGHLIGHTS 202512 315,400.96.4% •For the year ended 31 December 2025, the revenue of the Groupamounted to RMB5,400.9 million, representing a decrease of 6.4%as compared with last year. 202512 311,190.43.2%22.0%0.7 •For the year ended 31 December 2025, the gross profit of the Groupamounted to RMB1,190.4 million, representing a decrease of 3.2%as compared with last year; the gross profit margin was 22.0%,representing an increase of 0.7 percentage point as compared withlast year. 202512 31575.54.9% •For the year ended 31 December 2025, t