Longi Green Energy Technology Co., Ltd. Class ASSE: 601012

2025 Interim Results Corporate Presentation

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China Lesso Group Holdings Limited
2025 Interim Results Corporate Presentation 29 August 2025




Contents

1

Results Highlight

2

Financial Review

3

Business Review

4

Outlook





Results highlight

1

Focused on developing the core business, maintaining reasonable

profitability and sustainable development with strong resilience



  • Revenue: RMB 124,75 million

  • Gross profit: RMB 3,514 million

  • Profit attributable to the owners of the Company: RMB 1,046 million

  • Revenue of plastic piping systems: RMB 108,56 million; Sales volume: 1,249,400 tonnes


2

Continued to optimise its customer base structure to minimise business risk




3

Implemented product diversification strategy, successfully and continuously

unleashing potential in the agricultural application market




4

Actively expanded overseas markets through an asset-light model to explore

new markets and growth points




5

Proactive and prudent financial and cash flow management position with cash &

bank deposits of approx. RMB 4,936 million



4






Contents

1

Results Highlight

2

Financial Review

3

Business Review

4

Outlook





Total revenue analysis

(RMB million)

Total revenue

1H2025

Total revenue (by business segment)


Others*

13,564

12,475

Building materials & home improvement business

1,080

1,265

11,219

10,856

858

761

6.9%


Plastic piping systems business 87.0%

6.1%




H

1

2O0th2e4rs*

1H2025

1H2024

Building materials & home improvement business

8.0%

Others* 9.3%

Building materials & home improvement business

Plastic piping systems business

Remark: Others* including environmental , supply chain service platform, new energy, finance, plastic film, connection materials and other businesses




Plastic piping systems business 82.7%

6





GP & NP analysis

(RMB million)

27.5%

28.2%

8,121

27.0%

26.3%

7,239

3,728

3,514



9,000

GP & GP margin

30%

(RMB million)


2,320

7.5%

7.5%

7.5%

6.1%

1,638

1,017

935



3,000

NP & NP margin

10%

20%

4,500

10%

1,500 5%

0 0%

2023 2024 1H2024 1H2025

0 0%

2023 2024 1H2024 1H2025

7





Key financial performance indicators analysis

(days)



62

Trade receivable days

62


175

(days)

Trade payable days

159

158


57




Jun-24 Dec-24 Jun-25

Jun-24 Dec-24 Jun-25

Inventory turnover days* Cash & bank deposits


(days)

99 94 97

(RMB million)

6,702 6,643

4,936



Jun-24 Dec-24 Jun-25

* Remark: excluding properties

Jun-24 Dec-24 Jun-25

8





Return ratios analysis

Return on equity(1) Return on assets(2) Return on invested capital(3)


6.7%

7.6%



8.6%

2.8%



3.4%

4.6%

3.7%

4.3%



3.3%


Jun-24 Dec-24 Jun-25

Jun-24 Dec-24 Jun-25

Jun-24 Dec-24 Jun-25

  1. Net profit divided by total equity at the end of the period

  2. Net profit divided by total asset at the end of the period

  3. Net profit divided by (total debt + total equity)

9






Contents

1

Results Highlight

2

Financial Review

3

Business Review

4

Outlook





Plastic piping systems business: revenue & sales volume
Segment revenue

(RMB million) (tonnes)

1,249,3…

1,202,469





11,219 10,856


1H2024 1H2025

Segment sales volume

1H2024 1H2025

11





Plastic piping systems business: revenue breakdown by region


1H2024 1H2025




Outside Southern China 49.1%

Outside China 4.6%

Outside Southern China 47.4%

Outside China 6.2%


Southern China 46.3%

Southern China 46.4%


12





Plastic piping systems business: revenue analysis

1H2024 1H2025

Gas 1.9%

Others (1)



7.4%

Gas



1.9% Others (1)

7.4%

Power supply & telecommunication 14.6%

Water supply 39.3%

Power supply & telecommunication 13.5%

Water supply 42.3%



Drainage 36.8%

Non-PVC (2)

By product application






By product material

Non-PVC (2)


Drainage 34.9%

42.2%

PVC 57.8%

44.5%

PVC 55.5%


Total pipe products revenue: RMB 11.219 billion

Total pipe products revenue: RMB 10.856 billion

  1. Others include agricultural applications, floor heating and fire services

  2. Non-PVC includes PE, PP-R. etc

13





Plastic piping systems business: overall cost structure


1H2024 1H2025




Other overheads 2.6%

Other overheads 2.8%


Depreciation & amortisation 4.1%

Utilities 4.6%

Wages 6.7%

Depreciation & amortisation 4.4%

Utilities 4.6%

Wages 7.5%


Raw materials 82.0%

Raw materials 80.7%


14





Plastic piping systems business: ASP & GP margin analysis ASP per tonne - by material GP margin - by material

(RMB)

15,010

14,473

15,058

13,501

7,209

7,183

7,299

6,756

30.5%

29.90%

31.0%

29.6%

25.6…

27.9%

28.2%

29.3%



2023 2024 1H2024 1H2025





PVC products Non-PVC products

2023 2024 1H2024 1H2025

PVC Products Non-PVC Products

(RMB)

ASP per tonne - overall GP margin - overall

9,289

9,191

9,330

8,689



28.5% 28.7% 29.5% 29.4%




2023 2024 1H2024 1H2025 2023 2024 1H2024 1H2025

15





Plastic piping systems business: production capacity & utilisation rate
Annual designed production capacity & average utilisation rate

79.4%

76.4%

74.1%

73.2%

3.21

3.29

3.25

3.37



(million tonnes)

5.0


2.5


0.0

2023 2024 1H2024 1H2025

16





Plastic piping systems business

  • Focused on promoting the application of green agricultural production models, refined its product strategies to drive product transformation and launched a series of high-quality agricultural piping products

Product innovation


  • Proactively adjusted its customer structure and focused on developing and cultivating new customers with growth potential and financial strength

Customer structure


  • Upgraded and built smart factories that integrating IoT, smart manufacturing, and automated production

Smart intelligent manufacturing


  • Focus on Southeast Asia and North America as key development regions, while also striving to enter the African market

  • Progress of overseas market expansion is in line with expectations, and the overall business performance is generally good

Oversea market


17





Building materials and home improvement business and other businesses

Building material & home improvement business

  • Revenue: RMB 858 million

  • Shifting more resources towards collaborative projects with government departments, central government-owned and state-owned enterprises, to foster long-term, stable partnerships

  • Reducing exposure to mitigating risks from private real estate enterprises

  • Focus on developing new clients with strong capital strength and expand sales channels

Supply chain service platform business

  • Revenue: RMB 140 million

  • Kept developing the business with a prudent approach

  • Actively evaluating overseas assets

  • Optimising its financial position, improving cash flow and maximising shareholder value



Environmental protection business

  • Revenue: RMB 159 million

  • Actively refining its customer portfolio

  • Continuously deepening its engagement in government projects

New energy business

  • Revenue: RMB 166 million

  • Closely monitoring market dynamics and supply-demand

  • Streamlining its new energy business

  • Adjusting its development direction and operational strategies in a timely manner



18






Contents

1

Results Highlight

2

Financial Review

3

Business Review

4

Outlook





Future prospect


Continue with prudent strategy for development according to the market conditions

Harness its advanced smart intelligent manufacturing capabilities

Actively driving continuous product innovation and enhancement

Accelerate overseas expansion and localisation strategy

20





Q&A



21



Appendix: financial summary

2023

2024

1H2024 1H2025

Cash & bank deposits

6,553

6,643

6,702

4,936

Total assets

60,031

58,333

59,593

56,898

Total debts

20,696

19,646

21,034

19,048

Total equity

24,311

24,415

23,889

24,793

nalysis

Statement of profit and loss (RMB million) Statement of financial position (RMB million)


2023

2024

1H2024

1H2025

Revenue

30,868

27,026

13,564

12,475

Gross profit

8,121

7,293

3,728

3,514

EBITDA

5,613

4,732

2,644

2,467

EBIT

3,777

3,075

1,767

1,683

Net profit

2,320

1,638

1,017

935

Ratio a


Profit ratio (%)

2023

2024

1H2024

1H2025

Gross profit margin

26.3%

27.0%

27.5%

28.2%

EBITDA margin

18.2%

17.5%

19.5%

19.8%

EBIT margin

12.2%

11.4%

13.0%

13.5%

Net profit margin

7.5%

6.1%

7.5%

7.5%

Growth rate (%)

Revenue

0.3%

-12.4%

-11.3%

-8.0%

Gross profit

-1.5%

-10.2%

-12.5%

-5.7%

EBITDA

-3.0%

-15.7%

-15.1%

-6.7%

EBIT

-2.4%

-18.6%

-20.1%

-4.8%

Net profit

-7.9%

-29.4%

-29.2%

-8.0%

Liability ratio (times)

EBITDA/ financing costs

5.04x

4.97x

5.46x

6.59x

Total debts/ (total debts + total equity)

46.0%

44.6%

46.8%

43.4%

22





Appendix: layout of production bases
With over 30 advanced production bases in 19 provinces of China and in foreign countries


23






Thank You

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