Zhejiang Yongtai Technology : 2026 First Quarterly Report

About this update from Zhejiang Yongtai Technology Co., Ltd. Class A

Zhejiang Yongtai Technology Co., Ltd. 2026 First Quarterly Report Important Notice: The board of directors, directors, and senior management warrant the truthfulness, accuracy and completeness of the contents of this quarterly report and that there is no false representation, misleading statements contained herein or material omission of this quarterly report, for which they will assume joint and several liabilities. The person in charge of the Company, the responsible person for accounting work, and the person in charge of the accounting department (the principal officer of accounting), hereby warrant that the financial statements contained in this quarterly report are true, accurate and complete. Whether the first quarter interim financial report has been subject to audit □Yes ☑ No ‌MAJOR FINANCIAL DATA ‌Major Accounting Data and Financial Indicators Whether the Company needs to retroactively adjust or restate accounting data from previous years □Yes ☑ No Items This reporting period Same period last year Increase/decrease in this reporting period as compared with the same period last year Operating income (Yuan) 1,692,745,244.32 1,059,959,157.67 59.70% Net profit attributable to shareholders of the listed company (Yuan) 104,664,216.72 10,577,472.09 889.50% Net profit attributable to shareholders of the listed company after deducting non-recurring profits and losses (Yuan) 83,156,660.12 -18,124,603.13 558.81% Net cash flow from operating activities (Yuan) 108,368,570.16 -18,708,412.05 679.25% Basic earnings per share (Yuan/share) 0.113 0.011 927.27% Diluted earnings per share (Yuan/share) 0.113 0.011 927.27% Weighted average return on net assets 3.84% 0.40% Increase by 3.44 percentage points Items At the end of this reporting period At the end of the previous year Increase / decrease at the end of this reporting period compared to the end of the previous year Total assets (Yuan) 12,173,452,852.55 11,215,467,046.58 8.54% Net assets attributable to shareholders of the listed company (Yuan) 2,780,074,666.37 2,671,765,055.73 4.05% ‌Non-recurring profit and loss items and amounts ☑ Applicable □Not applicable Unit: yuan Items Amounts for the reporting period Notes Profits and losses from disposal of non-current assets (including the writing-off part of the assets with impairment provision withdrawn) -582,596.35 Government subsidies included in the current profit and loss (except for those closely related to the Company's normal business operations, in compliance with national policies and regulations, enjoyed according to the determined standards, and have a continuous impact on the Company's profits and losses) 16,558,208.49 The profits and losses from changes in fair value arising from the holding of financial assets and financial liabilities as well as the profits and losses arising from the disposal of financial assets and financial liabilities by non-financial enterprises, except for the effective hedging business related to the normal operation of the Company. 11,193,537.76 Non-operating income and expenses other than those mentioned above 2,786,262.17 Less: amount impacted of income tax 5,684,038.82 Amount impacted of minority shareholders' equity (after tax) 2,763,816.65 In total 21,507,556.60 -- Specific situation of other profit and loss items that satisfy the definition of non-recurring profit and loss: □Applicable ☑ Not applicable There was no specific situation of other profit and loss items that satisfy the definition of non-recurring profit and loss in the Company. Explanation of the circumstances in which the non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on Information Disclosure by Public Issuers of Securities -- Non-recurring Profit and Loss Items (《公开发行证券的公司信息披露解释性公告第 1 号--非经常性损益》) are defined as recurring profit and loss items. □Applicable ☑ Not applicable There was no circumstance of non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on Information Disclosure by Public Issuers of Securities - Non-recurring Profit and Loss Items are defined as recurring profit and loss items in the Company. ‌Changes in major accounting data and financial indicators and reasons for such changes ☑Applicable □ Not applicable 1、Explanation of reasons for changes in balance sheet items exceeding 30% Items Percentage change Reasons for change Monetary funds 60.42% Due to higher collection of trade receivables in the reporting period; Accounts receivable 30.74% Due to expanded business scale and notable sales volume growth in the reporting period, resulting in a corresponding increase in total trade receivables; Advance payment 69.68% Due to an increase in prepaid payments for raw materials during the reporting period; Other receivables 136.26% Due to increased number of trading counterparties in the reporting period; Right of use assets 138.32% Due to the lease of office premises in the reporting period; Other non-current assets 31.58% Due to increased prepayments for equipment and construction works in the reporting period; Notes payable 116.27% Due to the use of bill settlement for transactions in the reporting period, resulting in an increase in the Group's notes payable; Remuneration payable to employees -31.06% Due to the payment of a portion of annual performance bonuses in the reporting period; Long-term loan 45.86% Due to increased long-term bank borrowings in the reporting period; Lease liabilities 437.06% Due to an increase in lease payments due within one year during the reporting period. 2、Explanation of reasons for changes in income statement items exceeding 30% Items Percentage change Reasons for change Operating income 59.70% Due to increased sales of the lithium battery segment in the reporting period; Items Percentage change Reasons for change Operating costs 48.46% Due to increased revenue in the reporting period, with corresponding synchronous increase in cost of sales; R&D expenses 50.85% Due to increased R&D expenditure in the reporting period; Income from investment 121.56% Due to investment gains from the disposal of trading financial assets during the reporting period; Credit impairment loss -542.10% Due to increased trade receivables and other receivables in the reporting period, resulting in a corresponding increase in expected credit loss provisions; Asset impairment loss -100.00% Due to reversal of inventory write-downs in the same period of the prior year; non-operating income -73.41% Due to settlement and write-off of long-outstanding accounts payable with tenure exceeding the prescribed period in the same period of the prior year; non-operating expenses 48.12% Due to increased net loss from PP&E disposal in the reporting period; income tax expense 12656.79% Due to increased income tax provision corresponding to the profit generated in the reporting period; Net profit 848.64% Due to increased profit of the lithium battery segment in the reporting period. 3、Explanation of reasons for changes in cash flow statement items exceeding 30% Items Percentage change Reasons for change Net cash flow from operating activities 679.25% Due to expanded business scale and increased sales collections in the reporting period; Net cash flow from investing activities 53.68% Due to an increase in investment in acquiring fixed assets during the reporting period; Net cash flow from financing activities 36.68% Due to a year-on-year increase in the net amount of bank borrowings obtained during the reporting period. ‌SHAREHOLDER INFORMATION ‌(I)Table of the total number of ordinary shareholders and number of preference shareholders with voting rights restored and shareholdings of the top 10 shareholders Unit: Share Total number of shareholders as at the reporting period ordinary end of the 125,373 Total number of preference shareholders with voting rights restored as at the end of the reporting period (if any) Nil Shareholdings of the top 10 shareholders（excluding the shares lent through refinancing） Name of shareholder Nature shareholders of Percentage of shareholding Number held of shares Number of shares held subject to selling restrictions Shares pledged,marked or frozen Status of shares Quantity Wang Yingmei Domestic person natural 15.59% 144,248,400 108,186,300 Pledge 31,000,000 He Renbao Domestic person natural 12.04% 111,400,000 0 Pledge 40,000,000 Zhejiang Yongtai Holdings Co., Ltd. Domestic non-state-owned legal person 1.39% 12,887,500 0 Pledge 12,887,500 Hong Kong Securities Clearing Co., Ltd. Overseas legal person 1.04% 9,575,269 0 Shanghai Axing Investment Management Co., Ltd. - Axing Gezhi No.12 Others 0.49% 4,530,000 0 Private Equity Investment Fund Ma Zhe Domestic person natural 0.43% 3,986,400 0 Li Jie Domestic person natural 0.34% 3,150,000 0 CITIC Securities Asset Management (Hong Kong) Limited - Client Funds Overseas legal person 0.34% 3,108,880 0 Ji Nana Domestic person natural 0.27% 2,477,077 0 Chen Yinyin Domestic person natural 0.24% 2,200,000 0 Shareholdings of the top 10 shareholders without limited sales conditions (excluding the shares lent through refinancing, the shares locked up by senior management.) Name of shareholders Number of circulating shares held not subject to sales restrictions Type and number of shares Type of shares Quantity He Renbao 111,400,000 RMB denominated ordinary shares 111,400,000 Wang Yingmei 36,062,100 RMB denominated ordinary shares 36,062,100 Zhejiang Yongtai Holdings Co., Ltd. 12,887,500 RMB denominated ordinary shares 12,887,500 Hong Kong Securities Clearing Co., Ltd. 9,575,269 RMB denominated ordinary shares 9,575,269 Shanghai Axing Investment Management Co., Ltd. - Axing Gezhi No.12 Private Equity Investment Fund 4,530,000 RMB denominated ordinary shares 4,530,000 Ma Zhe 3,986,400 RMB denominated ordinary shares 3,986,400 Li Jie 3,150,000 RMB denominated ordinary shares 3,150,000 CITIC Securities Asset Management (Hong Kong) Limited - Client Funds 3,108,880 RMB denominated ordinary shares 3,108,880 Ji Nana 2,477,077 RMB denominated ordinary shares 2,477,077 Chen Yinyin 2,200,000 RMB denominated ordinary shares 2,200,000 Explanation on the related relationship or concerted action of the above-mentioned shareholders Mr. He Renbao, Ms. Wang Yingmei, Zhejiang Yongtai Holdings Co., Ltd. and Shanghai Axing Investment Management Co., Ltd. - Axing Gezhi No.12 Private Equity Investment Fund are parties acting in concert. Among them, Mr. He Renbao and Ms. Wang Yingmei are spouses, who collectively held 100% equity interest in Zhejiang Yongtai Holdings Co., Ltd., and Mr. He Kuang, the son of Mr. He Renbao and Ms. Wang Yingmei, held 100% equity interest in Shanghai Axing Investment Management Co., Ltd. - Axing Gezhi No.12 Private Equity Investment Fund. Moreover, the Company is not aware of any related relationship among other shareholders or whether they are parties acting in concert, and it was also unknown to the Company whether the top 10 shareholders of circulating stock with unlimited sales conditions and the top 10 shareholders of ordinary shares are related to each other or are acting in concert. Explanation on the top ten shareholders participating in securities margin trading business (if any) 4,530,000 shares were held by Shanghai Axing Investment Management Co., Ltd. - Axing Gezhi No.12 Private Equity Investment Fund through an investor credit securities account; 3,434,000 shares were held by Ma Zhe through an investor credit securities account; 2,477,077 shares were held by Ji Nana through an investor credit securities account.; and 2,200,000 shares were held by Chen Yinyin through an investor credit securities account. Information on shareholders holding more than 5%, the top 10 shareholders and the top 10 shareholders without limited sales conditions participating in the lending of shares through refinancing business □Applicable ☑Not applicable The top 10 shareholders and the top 10 shareholders without limited sales conditions changed from the previous period due to refinancing lending/restitution reasons □Applicable ☑ Not applicable ‌(II)Table of the total number of preference shareholders and shareholdings of the top 10 preference shareholders of the company □Applicable ☑ Not applicable ‌OTHER IMPORTANT MATTERS ☑Applicable □ Not applicable During the reporting period, to improve capital use efficiency and optimize resource allocation, the Company carried out systematic sorting and optimization of its overall strategic layout. The Company first cancelled the originally planned construction of the 200,000-tonne electrolyte project and 67,000-tonne liquid lithium hexafluorophosphate (LiPF6, industry general abbreviation) project of its subsidiary Yongtai High-Tech, subsequently proposed to invest in the construction of a new annual 200,000-tonne lithium battery electrolyte project in Binhai Coastal Industrial Park, after which it implemented technological transformation and capacity expansion for the existing solid lithium hexafluorophosphate production lines of Yongtai High-Tech, which will form an annual production capacity of 50,000 tonnes of solid lithium hexafluorophosphate upon completion, and additionally launched a new annual 5,000-tonne new-type lithium replenishing agent project in the plant area of Yongtai High-Tech. For details, please refer to the relevant announcements published by the Company on Securities Times, China Securities Journal, Shanghai Securities News, Securities Daily and Juchao Information Website ( http://www.cninfo.com.cn ) on March 3, 2026 and March 14, 2026. On March 6, 2026, the shareholding increase plan of some of the Company's directors and senior management was fully implemented. For details, please refer to the relevant announcements published by the Company on Securities Times, China Securities Journal, Shanghai Securities News, Securities Daily and Juchao Information Website ( http://www.cninfo.com.cn ) on March 7, 2026. The Company's subsidiary Foshan Shouxin passed the re-certification as a High and New Technology Enterprise (HNTE). For details, please refer to the relevant announcements published by the Company on Securities Times, China Securities Journal, Shanghai Securities News, Securities Daily and Juchao Information Website ( http://www.cninfo.com.cn ) on March 10, 2026. ‌QUARTERLY FINANCIAL STATEMENTS ‌Financial Statements ‌1、Consolidated Balance Sheet Prepared by: Zhejiang Yongtai Technology Co., Ltd. 31 March 2026 Unit: yuan Item 31 March 2026 1 January 2026 Current assets: Monetary funds 679,235,904.26 423,412,552.85 Deposit reservation for balance Lending funds Transactional financial assets 7,582,738.46 7,329,373.65 Derivative financial assets Item 31 March 2026 1 January 2026 Notes receivable 454,922,959.15 358,677,475.83 Accounts receivable 1,889,507,887.81 1,445,257,530.40 Receivables financing 29,968,421.64 25,059,585.66 Advance payment 141,448,092.59 83,361,322.60 Premium receivable Reinsurance receivables Reinsurance contract reserves receivable Other receivables 87,435,597.91 37,008,345.80 Of which: Interest receivable Dividend receivable Purchase of resale financial assets Inventories 1,190,444,375.32 1,107,788,659.76 Of which: Data resources Contract assets Assets held for sale 599,943.92 599,943.92 Non-current assets due within one year Other current assets 94,715,401.96 133,858,413.45 Total current assets 4,575,861,323.02 3,622,353,203.92 Non-current assets: Loans and advances issued Debt investment Other debt investments Long-term receivables Long-term equity investment 256,090,796.52 254,383,993.38 Investment in other equity instruments 84,071,111.51 84,071,111.51 Other non-current financial assets Real estate for investment purposes 17,145,821.87 17,448,766.61 Fixed assets 3,831,977,816.23 3,908,728,868.31 Construction in progress 1,673,479,775.62 1,599,879,666.64 Productive biological assets Oil and gas assets Right of use assets 6,749,364.56 2,832,079.11 Intangible assets 489,376,147.05 500,404,802.85 Of which: Data resources Development expenditure 37,157,307.76 36,147,355.09 Of which: Data resources Goodwill 600,936,834.86 600,936,834.86 Long-term deferred expenses 11,167,328.54 12,379,102.18 Deferred income tax assets 454,424,051.85 473,292,915.76 Other non-current assets 135,015,173.16 102,608,346.36 Total non-current assets 7,597,591,529.53 7,593,113,842.66 Total assets 12,173,452,852.55 11,215,467,046.58 Current liabilities: Item 31 March 2026 1 January 2026 Short-term loan 2,258,643,508.84 2,303,099,403.93 Borrowings from the Central Bank Borrowing funds Transaction financial liabilities 1,528,080.00 1,528,080.00 Derivative financial liabilities Notes payable 798,295,175.40 369,115,147.42 Accounts payable 1,498,051,408.09 1,505,751,100.52 Advance payment Contractual liabilities 225,102,482.99 76,813,885.07 Financial assets sold for repurchase Savings absorption and interbank deposits Acting trading securities Acting underwriting securities Remuneration payable to employees 48,384,151.37 70,183,008.22 Taxes payable 53,387,494.39 46,953,633.29 Other payables 282,645,619.69 388,834,740.86 Of which: Interest payable Dividend payable Handling charges and commissions payable Accounts payable reinsurance Liabilities held for sale Non-current liabilities due within one year 1,429,260,601.11 1,547,959,984.76 Other current liabilities 976,935,667.12 957,631,582.03 Total current liabilities 7,572,234,189.00 7,267,870,566.10 Non-current liabilities: Provision for insurance contracts Long-term loan 1,187,590,058.63 814,215,058.63 Bonds payable Of which: Preferred shares Perpetual debt Lease liabilities 5,845,034.19 1,088,336.12 Long-term payables 194,125,864.92 75,679,981.11 Long-term remuneration payable to employees Estimated liabilities Deferred benefits 210,594,926.93 179,216,244.68 Deferred income tax liabilities 6,437,954.33 6,666,547.96 Other non-current liabilities Total non-current liabilities 1,604,593,839.00 1,076,866,168.50 Total liabilities 9,176,828,028.00 8,344,736,734.60 Owner's equity: Item 31 March 2026 1 January 2026 Capital stock 925,127,636.00 925,127,636.00 Other equity instruments Of which: Preferred shares Perpetual debt Capital reserves 710,190,044.59 710,190,044.59 Less: treasury shares 29,721,600.00 29,721,600.00 Other comprehensive incomes 21,213,535.76 18,459,093.57 Special reserves 10,844,130.41 9,953,178.68 Surplus reserves 218,347,987.76 218,347,987.76 General risk provision Retained earnings 924,072,931.85 819,408,715.13 Total owner's equity attributable to the parent company 2,780,074,666.37 2,671,765,055.73 Equity of minority shareholders 216,550,158.18 198,965,256.25 Total owner's equity 2,996,624,824.55 2,870,730,311.98 Total liabilities and owner's equity 12,173,452,852.55 11,215,467,046.58 Legal representative: Wang Yingmei Person in charge of accounting work:Ying Yangfeng Head of accounting agency: Ni Xiaoyan ‌2、Consolidated income statement Unit: yuan Item Amount incurred in the current period Incurred amount during the previous period I. Total operating income 1,692,745,244.32 1,059,959,157.67 Of which: Operating income 1,692,745,244.32 1,059,959,157.67 Interest income Premium earned Incomes for handling charges and commissions II. Total operating cost 1,549,473,728.94 1,099,841,577.94 Including: Operating costs 1,284,973,396.19 865,513,467.85 Interest expenses Expenditures for handling charges and commissions Surrender value Net amount of compensation expenses Net insurance liability reserve withdrawn Policyholder dividend expense Reinsurance expenses Taxes and surcharges 7,121,173.48 6,685,769.08 Marketing expenses 25,398,093.09 22,685,780.83 Management expenses 123,985,403.21 138,175,466.07 R&D expenses 39,353,357.46 26,087,543.36 Financial expenses 68,642,305.51 40,693,550.75 Of which: Interest expense 44,406,748.79 42,634,250.45 Interest income 917,191.64 1,470,346.08 Item Amount incurred in the current period Incurred amount during the previous period Plus: Other income 16,558,208.49 23,395,891.31 Income from investment (loss expressed with "-") 12,900,340.90 5,822,470.28 Of which: investment benefits to the associated enterprise and joint venture 1,706,803.14 5,771,073.00 Income from derecognition of financial assets measured at amortized cost Exchange gain (loss expressed with "-") Net exposure hedging income (loss expressed with "-") Gains from changes in fair value (loss expressed with "-") Credit impairment loss (loss expressed with "-") -29,736,433.08 6,726,158.62 Asset impairment loss (loss expressed with "-") 5,550,999.97 Gains from disposal of assets (loss expressed with "-") -114,747.30 -64,855.09 III. Operating profit (loss expressed with "-") 142,878,884.39 1,548,244.82 Plus: non-operating income 3,093,034.28 11,633,406.47 Less: non-operating expenses 774,621.16 522,954.82 IV. Total profit (total loss expressed with "-") 145,197,297.51 12,658,696.47 Less: income tax expense 23,348,149.00 -185,940.39 V. Net profit (net loss expressed with "-") 121,849,148.51 12,844,636.86 (I) Classification by business continuity 1. Net profit from going concern (net loss expressed with "-") 124,695,368.76 2,506,646.88 2. Net profit from discontinued operations (net loss expressed with "-") -2,846,220.25 10,337,989.98 (II) Classification by ownership 1. Net profit attributable to shareholders of the parent company (net loss expressed with "-") 104,664,216.72 10,577,472.09 2. Minority shareholders' profits and losses (net loss expressed with "-") 17,184,931.79 2,267,164.77 VI. Net after-tax amount of other comprehensive incomes 2,754,442.19 27,576,930.94 Net after-tax amount of other comprehensive income attributable to the owner of the parent company 2,754,442.19 27,576,930.94 (I) Other comprehensive incomes not to be reclassified into profits and losses 1. Remeasurement of changes in defined benefit plans 2. Other comprehensive income that cannot be transferred to profits and losses under equity method 3. Changes in fair value of other equity instrument investments 4. Changes in fair value of enterprise's own credit risk 5. Others (II) Other comprehensive incomes to be reclassified 2,754,442.19 27,576,930.94 Item Amount incurred in the current period Incurred amount during the previous period into profits and losses 1. Other comprehensive income that can be transferred to profits and losses under equity method 2. Changes in fair value of other debt investments 3. Amount of financial assets reclassified into other comprehensive income 4. Provision for credit impairment of other debt investments 5. Cash flow hedging reserve 6. The balance arisen from the translation of foreign currency financial statements 2,754,442.19 27,576,930.94 7. Others Net after-tax amount of other comprehensive income attributable to minority shareholders VII. Total comprehensive income 124,603,590.70 40,421,567.80 Total comprehensive incomes attributable to the parent company's owners 107,418,658.91 38,154,403.03 Total comprehensive incomes attributable to minority shareholders 17,184,931.79 2,267,164.77 VIII. Earnings per share: (I) Basic earnings per share 0.113 0.011 (II) Diluted earnings per share 0.113 0.011 Legal representative: Wang Yingmei Person in charge of accounting work:Ying Yangfeng Head of accounting agency: Ni Xiaoyan ‌3、Consolidated cash flow statement Unit: yuan Item Amount incurred in the current period Incurred amount during the previous period I. Cash flow from operating activities: Cash received from sales of goods or rendering of labor services 1,109,333,996.87 765,932,581.42 Net increase in customer bank deposits and interbank deposits Net increase in borrowing from the Central Bank Net increase in loans from other financial institutions Cash received from premiums obtained from original insurance contracts Net cash received from reinsurance business Net increase of policy holder deposits and investment funds Cash received from interests, handling charges and commissions Net increase in borrowing funds Net increase in repurchase business capital Net cash received from agency purchases and sales of securities Refunds of taxes 39,729,555.96 40,976,522.78 Item Amount incurred in the current period Incurred amount during the previous period Other cash received related to operating activities 54,909,069.45 36,557,350.10 Sub-total of cash inflows from operating activities 1,203,972,622.28 843,466,454.30 Cash payments for purchasing goods and receiving labor services 812,866,343.69 495,643,129.81 Net increase in customer loans and advances Net increase of deposits in the Central Bank and other financial institutions Cash payments for original insurance contract claims Net increase in lending funds Cash payments for interests, handling charges and commissions Cash payments for the policyholder dividends Cash paid to and on behalf of employees 120,929,633.55 109,025,092.50 All types of taxes paid 30,608,239.32 35,364,185.97 Other cash payments related to operating activities 131,199,835.56 222,142,458.07 Sub-total of cash outflows from operating activities 1,095,604,052.12 862,174,866.35 Net cash flow from operating activities 108,368,570.16 -18,708,412.05 II. Cash flow from investment activities: Cash received from investment recovery 17,256,941.00 Cash received from returns on investments Net cash received from disposal of fixed assets, intangible assets & other long-term assets 42,999.31 64,513.94 Net cash received from the disposal of subsidiaries and other business entities Other cash received relating to investment activities Sub-total of cash inflows from investment activities 42,999.31 17,321,454.94 Cash paid to acquire fixed assets, intangible assets & other long-term assets 162,667,779.56 116,666,848.30 Cash paid to acquire investments 6,474,058.80 Net increase in pledge loans Net cash payments for the acquisition of subsidiaries and other business entities Other cash payments related to investing activities Sub-total of cash outflows from investment activities 162,667,779.56 123,140,907.10 Net cash flow from investing activities -162,624,780.25 -105,819,452.16 III. Cash flow from financing activities: Cash received from capital contributions Of which: cash received from minority shareholders' investment in subsidiaries Cash received from borrowings 1,708,297,194.35 1,324,600,729.90 Other cash received related to financing activities 483,210,000.00 Sub-total of cash inflows from financing activities 2,191,507,194.35 1,324,600,729.90 Cash payments for debt repayment 1,472,371,695.20 1,102,397,070.19 Cash payments for distributing dividends, profits or paying interest 47,405,534.76 43,212,993.37 Of which: share dividends and profits paid to Item Amount incurred in the current period Incurred amount during the previous period minority shareholders by subsidiaries Other cash payments related to financing activities 427,089,494.17 Sub-total of cash outflows from financing activities 1,946,866,724.13 1,145,610,063.56 Net cash flow from financing activities 244,640,470.22 178,990,666.34 IV. Impact of currency fluctuation on cash and cash equivalents -4,041,183.36 4,464,033.91 V. Net increase in cash and cash equivalents 186,343,076.77 58,926,836.04 Plus: Cash and cash equivalents balance at the beginning of the period 107,646,796.26 213,923,592.02 VI. Cash and cash equivalents balance at the end of the period 293,989,873.03 272,850,428.06 ‌The information of the adjusting items related to the financial statements at the beginning of the year of first implementation due to the first implementation of new accounting standards from 2026. □Applicable ☑ Not applicable ‌Audit Report Whether the first quarter interim financial report has been subject to audit □Yes ☑No The financial statements of the Company for the first quarter are unaudited. Zhejiang Yongtai Technology Co., Ltd. Chairwoman: Wang Yingmei Date of approval for reporting by the Board of Directors: 27 April 2026

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