通威股份：2025年年度报告（英文版）

ImportantNotice I.Theboardofdirectors,aswellas directors,and seniormanagersofthe Company areresponsiblefortheauthenticity,accuracyandcompletenessoftheinformationcontainedinthisAnnualReportwithoutfalserecords,misleadingstatementsormaterialomissions,andassumejointandseveralliabilitytherefor. II.AlldirectorsoftheCompanyhavebeenpresentintheboardmeeting. III.Sichuan Huaxin(Group)CPA(Special General Partnership)has expressed a standardunqualifiedopiniononthefinancialstatementsoftheCompany. IV.LiuShuqi,HeadoftheCompany,ZhouBin,HeadofaccountingaffairsandGanLu,Headofaccountingdepartmentrepresentthattheyareresponsiblefortheauthenticity,accuracyandcompletenessofthefinancialstatementsinthisAnnualReport. V.Theproposalonprofitdistributionortheproposalonconversionofcapitalreservetosharecapitalforcurrentperiodresolvedintheboardmeeting Aftercomprehensive evaluation of industry trends,corporate developmental phase,and actualoperationalperformance,Tongwei’s Board has determined to retain 2025 earnings to safeguardlong-termshareholdervalueandensuresustainabledevelopmentcapitalrequirements.Thecurrentprofitallocationproposal,involving neithercash dividends,capital reserve conversions,nor bonussharedistributions,fully complies with regulatory requirements including the No.3 Guideline for theSupervisionofListedCompanies–CashDividendsofListedCompaniesandtheArticlesofAssociationofTongweiCo.,Ltd. Itiscrucialtonotethatthisprofitdistributionproposalhasnotbeensubmittedtothegeneralmeetingofshareholders. Uncoveredlosses of the parent company as well as its impact on the Company’s dividenddistributionandothermattersbytheendofthereportingperiod□Applicable√NotApplicable VI.Cautionarynoteonforward-lookingstatement √Applicable□NotApplicable Theforward-looking statements of the Company regarding its future development strategies andbusinessplansdonotconstituteanysubstantialcommitmentoftheCompanytoinvestors;andinvestorsshouldpayattentiontorisks. VII.Anyfundspossessedbythecontrollingshareholderandotherrelatedpartiesfornon-operatingpurposes? No VIII.AnyoutwardguaranteebytheCompanyinviolationoftheprescribeddecision-makingprocedures? No IX.Morethanhalfofthedirectorscannotensurethetruthfulness,accuracy,andcompletenessof theannualreportdisclosedbytheCompany? No X.Noticeonmaterialrisks TheCompanyhaddetailedpossiblerisksinthisReport.PleaserefertoVI“discussionandanalysisontheCompany’sfuturedevelopment”inSectionIIIManagementDiscussionandAnalysisformoreinformationonpossiblerisksandactions. XI.Others □Applicable√NotApplicable Contents SectionIDefinition.....................................................................................................................................5SectionIICompanyProfileandMajorFinancialIndicators................................................................7SectionIIIManagementDiscussionandAnalysis.................................................................................12SectionIVCompanygovernance,EnvironmentalandSocial.............................................................47SectionVImportantMatters...................................................................................................................71SectionVIShareChangesandShareholders.........................................................................................90SectionVIIBonds.....................................................................................................................................99SectionVIIIFinancialReport...............................................................................................................109 SectionIDefinition I.Definitions SectionIICompanyProfileandMajorFinancialIndicators II．Contactsandcontactdetails III．BasicInformation IV．Informationdisclosureandsite V．Stockinformation VI．Otherinformation VII．Majoraccountingdataandfinancialindicatorswithinthelatestthreeyears (I.)Majoraccountingdata (II.) Noteonmajoraccountingdataandfinancialindicatorswithinthelatestthreeyearsbytheendofreporting□Applicable√NotApplicable VIII．Differencesbetweenaccountingdataunderdomesticandforeignaccountingstandards (I.)Differenceinnetprofitandnetassetsattributabletoshareholdersofthelistedcompanycontainedinthefinancialstatements disclosed simultaneously under International Accounting Standard and ChinaAccountingStandard □Applicable√NotApplicable (II.)DifferenceinnetprofitandnetassetsattributabletoshareholdersofthelistedcompanycontainedinthefinancialstatementsdisclosedsimultaneouslyunderForeignAccountingStandardandChinaAccountingStandard □Applicable√NotApplicable (III.)NoteondifferencesbetweenChinaandforeignaccountingstandards:□Applicable√NotApplicable IX．2025majorfinancialdatabyquarters X．Non-recurringgainandlossitemsandamounts √Applicable□NotApplicable Unit:YuanCurrency:CNY WheretheCompanydefinesanitemandtheitemhasasignificantamountnotlistedintheExplanatoryAnnouncementonInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublicNo.1-Non-RecurringGai