京粮B：2025年年度报告摘要(英文版)
HainanJingliangHoldingsCo.,Ltd.2025AnnualReportSummaryStockCode:000505,200505StockName:JLKG,JL-BAnnouncementNo.2026-005
HAINANJINGLIANGHOLDINGSCO.,LTD.
2025ANNUALREPORTSUMMARY
PartIImportantNotesThisSummaryisbasedonthefullAnnualReportofHainanJingliangHoldingsCo.,Ltd.(togetherwithitsconsolidatedsubsidiaries,the"Company",exceptwherethecontextotherwiserequires).TogainacomprehensiveunderstandingoftheCompany'soperatingresults,financialposition,andfuturedevelopmentplans,investorsareadvisedtocarefullyreviewthefullAnnualReportonthedesignatedmediaspecifiedbytheChinaSecuritiesRegulatoryCommission(the"CSRC").ThisSummaryhasbeenpreparedinbothChineseandEnglish.ShouldtherebeanydiscrepanciesormisunderstandingsbetweentheChineseandEnglishversions,theChineseversionshallprevail.AlltheCompany'sdirectorshaveattendedtheboardmeetingforthereviewofthisreportanditssummary.Independentauditor'smodifiedopinion?Applicable?NotapplicableBoard-approvedprofitdistributionplanorproposaloncapitalizingcapitalreserveintosharecapitalforthereportingperiod?Applicable?NotapplicableTheCompanyproposesnottodistributeanycashdividends,issueanybonusshares,orconvertanycapitalreserveintosharecapital.Board-approvedprofitdistributionplanforpreferredsharesforthereportingperiod?Applicable?NotapplicablePartIIKeyCorporateInformation
1.CompanyProfile
| Stockname | JLKG,JL-B | Stockcode | 000505,200505 |
| Stockexchangeforstocklisting | ShenzhenStockExchange | ||
| Contactinformation | BoardSecretary | SecuritiesRepresentative | |
| Name | GuanYing | GaoDeqiu | |
| Officeaddress | 8/F,TowerB,CapitalAgriculturalScienceandInnovationMansion,BuildingNo.1,CommunityNo.8,XinningStreet,DaxingDistrict,Beijing | 8/F,TowerB,CapitalAgriculturalScienceandInnovationMansion,BuildingNo.1,CommunityNo.8,XinningStreet,DaxingDistrict,Beijing | |
| Fax | 010-81219987 | 010-81219987 | |
| Tel. | 010-81219989 | 010-81219989 |
| E-mailaddress | guanying@bjjlkg.cn | gaodeqiu@bjjlkg.cn |
2.PrincipalActivitiesorProductsintheReportingPeriod
(1)PrincipalbusinessoperationsOurCompany'sprincipalbusinessoperationscompriseoilandoilseedsprocessingandfoodprocessing.Oilandoilseedsprocessing:Thisprimarilyinvolvestherefining,packaging,andmarketingofcrudeoils,aswellasthepressing,refining,packaging,andmarketingofoilseedssuchassesame,soybeans,andpeanuts.FoodProcessing:ThisprimarilyfocusesonR&D,production,andsalesofsnackfoodsandbakeryproducts.
(2)Company'smajorproductsTheCompany'soilsandoilseedsprocessingbusinessfeaturesbrandssuchas"LvBao""GuBi"and"HuoNiao",withprincipalproductsincludingsoybeanoil,cornoil,sunflowerseedoil,peanutoil,rapeseedoil,flaxseedoil,oliveoil,sesameoil,andsesamepasteetc.TheCompany'sfoodprocessingbusinessfeaturesbrandssuchas"XiaoWangzi","DongXiaojie","JianqiangdeTudouzai",and"GuChuan",offeringproductslikepotatochips,pastries,andbread.
(3)IndustrydevelopmentsandtrendsAccordingtotheIndustryClassificationGuidelinesforListedCompanies,theCompanyfallsunderthemajorcategoryofManufacturing-ProcessingofFarmandSidelineFoodProducts(Code:C13).Specifically,itsprimaryindustrysegmentisvegetableoilprocessing,withthefoodprocessingbusinessalsocontributingasignificantportionofthegrossprofit.
①StatusandFutureTrendsintheVegetableOilProcessingIndustryDuringthereportingperiod,thevegetableoilprocessingindustrymaintainedstableoveralloperation.Theindustrystructurecontinuedtoevolvetowardsgreaterconsolidation,environmentalsustainability,functionaldiversification,andsmartmanufacturing.Domesticconsumptionofediblevegetableoilsapproachedsaturation,whileinternationalpricevolatilityandevolvingenvironmentalpoliciespersistentlytestedtheindustry'scostcontrolandsupplychainresilience.Consumerdemandaccelerateditsshifttowardshealthierandpremiumproducts,withhigh-value-addedcategoriesshowingsignificantgrowth.Industrycompetitionintensified,shiftingfrompurecapacityexpansiontoafocusonefficiencyandquality.Leadingenterprisesacceleratedcapacityconsolidationandintegratedsupplychainlayouts,enhancingtheircorecompetitivenessthroughtechnologieslikelow-temperaturephysicalrefining,smartfactories,full-chaintraceability,andhigh-valueutilizationofby-products.Lookingahead,theindustrywillcontinuetofocusonsecuringsupplychains,adoptinggreenandlow-carbonproduction,drivingproductdifferentiation,andimplementingrefinedomnichanneloperations,aimingtobuildlong-termadvantagesinrawmaterialsecurity,technologicaladvancement,brandpremium,andsustainable
HainanJingliangHoldingsCo.,Ltd.2025AnnualReportSummarydevelopment.
②StatusandFutureTrendsintheFoodProcessingIndustryDuringthereportingperiod,thefoodprocessingindustry(centeredonsnackfoods)demonstratedcharacteristicsofsteadygrowth,structuraloptimization,channelrestructuring,andinnovation-drivendevelopment.Themarketsizecontinuedtoexpand,accompaniedbyfurtherupgradesinconsumerdemand,wherefunctionalproductsbecameakeygrowthdriver.Deepintegrationemergedacrossdiscountsnackchannels,specialtysnackstores,instantretail,andlive-streaminge-commerce,solidifyinganintegratedonline-to-offlinechannellandscape.Competitionincreasinglyshiftedfromchanneladvantagestoproductstrengthandsupplychainefficiency.Facedwithintensifyinghomogenizedcompetition,risingcostpressures,andrapidlychangingconsumerpreferences,companiesmustprioritizeproductinnovation,qualitycontrol,omnichannelmanagement,andbranddifferentiation.InvestinginR&D,flavorinnovation,packagingupgrades,andsupplychaindigitalizationwillbecrucialforreducingcostsandimprovingefficiency.Inthefuture,thefoodprocessingindustrywillcontinueevolvingtowardshealthandfunctionality,precisescenariotargeting,intelligentproduction,andchannelintegration.Snackfoodenterprisesmustcloselyfollowmarketdynamicsandbuildcompetitiveadvantagesthroughinnovation,operationalefficiency,andbrandpowertocapitalizeonconsumptionupgradingandmarketexpansionopportunities,therebyachievinghigh-qualitydevelopment.
(4)IndustrypositionoftheCompanyTheCompanyownsanumberofbrandswithsignificantmarketinfluence."GuBi"sesameoilhasbeenawardedhonorssuchasthe"NationalFamousSesameOilBrand"theSilverAwardattheBeijingInternationalCateringandFoodExpo,andthe"InternationalFamousBrandProductGoldAward",grantingitacompetitiveedgewithintheindustry.Both"LvBao"and"GuBi"arerecognizedasBeijingTime-honoredBrands.The"XiaoWangzi"trademarkanditsproductshavebeenconsistentlycertifiedasZhejiangFamousTrademarksandZhejiangFamous-brandProductsformanyconsecutiveyears.Theyholdstrongcompetitivenessinthespecificmarketsegmentofindividuallypackagedbulkpotatochipsandrankamongthetopinthepuffedfoodindustry.GuChuanBreadisoneofthemajorsuppliersforKFCinNorthChina,maintainingasolidindustrypositioninthenorthernbakerymarket.
3.KeyAccountingDataandFinancialIndicators
(1)KeyaccountingdataandfinancialindicatorsofthepastthreeyearsWhethertheCompanyneedstoretrospectivelyadjustorrestatetheaccountingdataofpreviousyears:
?Yes?NoReasonforretrospectiveadjustmentorrestatement:
Correctionofaccountingerrors
Unit:RMB
| 31December2025 | 31December2024 | Changeof31December2025over31December2024(%) | 31December2023 | |||
| BeforeAdjustment | AfterAdjustment | AfterAdjustment | BeforeAdjustment | AfterAdjustment | ||
| Totalassets | 6,118,282,221.45 | 6,700,959,305.96 | 6,700,959,305.96 | -8.70% | 6,496,782,984.90 | 6,496,782,984.90 |
| Equityattributabletothelistedcompany'sshareholders | 2,863,413,043.74 | 3,143,289,575.69 | 3,143,289,575.69 | -8.90% | 3,167,503,541.44 | 3,167,503,541.44 |
| 2025 | 2024 | 2025-over-2024change(%) | 2023 | |||
| BeforeAdjustment | AfterAdjustment | AfterAdjustment | BeforeAdjustment | AfterAdjustment | ||
| Operatingrevenue | 7,858,535,847.11 | 11,434,843,516.27 | 11,434,843,516.27 | -31.28% | 11,901,009,211.63 | 11,602,380,127.46 |
| NetprofitattributabletoshareholdersofthelistedCompany | -266,087,957.92 | 26,130,520.86 | 26,130,520.86 | -1,118.30% | 102,348,088.85 | 101,358,157.59 |
| NetprofitattributabletoshareholdersofthelistedCompany,excludingnon-recurringgainsandlosses | -279,148,762.48 | 11,095,858.98 | 11,095,858.98 | -2,615.79% | 82,678,972.04 | 81,689,040.78 |
| Netcashflowsfromoperatingactivities | 646,776,701.50 | -109,470,721.95 | -109,470,721.95 | 690.82% | 109,486,954.74 | 109,486,954.74 |
| BasicEPS(RMB/share) | -0.37 | 0.04 | 0.04 | -1,025.00% | 0.14 | 0.14 |
| DilutedEPS(RMB/share) | -0.37 | 0.04 | 0.04 | -1,025.00% | 0.14 | 0.14 |
| WeightedaverageROE(%) | -8.86% | 0.83% | 0.83% | -9.69% | 3.29% | 3.25% |
ReasonsforAccountingPolicyChangesandDetailsofAccountingErrorCorrections
HainanJingliangHoldingsCo.,Ltd.2025AnnualReportSummaryOnOctober17,2025,theCompanyheldthe23rdmeetingofthe10thBoardofDirectorsandthe18thmeetingofthe10thBoardofSupervisors,atwhichtheProposalonCorrectionofPriorPeriodAccountingErrorswasreviewedandapproved.TheCompanyhasretrospectivelyrestatedtherelevantfinancialstatementsduetoprior-periodaccountingerrorsidentifiedinthesemi-annualfinancialreportfor2023andtheannualfinancialreportfor2023.Thiscorrectionhadacontinuingimpactonthechangesinowners'equityforthesemi-annualperiodof2024,theannualperiodof2024,andthesemi-annualperiodof2025,resultinginanincreaseofRMB989,931.26incapitalreserveandacorrespondingdecreaseofRMB989,931.26inretainedearnings.
(2)Keyaccountingdatabyquarter
Unit:RMB
| Q1 | Q2 | Q3 | Q4 | |
| Operatingrevenue | 2,134,668,845.32 | 2,073,477,410.54 | 2,003,377,195.62 | 1,647,012,395.63 |
| NetprofitattributabletoshareholdersofthelistedCompany | 12,880,761.32 | 5,069,412.79 | -69,451,831.59 | -214,586,300.44 |
| NetprofitattributabletoshareholdersofthelistedCompany,excludingnon-recurringgainsandlosses | 13,605,726.96 | 3,140,820.24 | -76,213,401.62 | -219,681,908.06 |
| Netcashflowsfromoperatingactivities | -293,409,962.28 | 515,846,255.35 | -73,348,385.11 | 497,688,793.54 |
WhetherthereisanymaterialdifferencebetweentheabovefinancialindicatorsandtheiraggregatesandtherelevantfinancialindicatorsdisclosedintheCompany'squarterlyreportsandsemi-annualreports
□Yes?No
4.ShareCapitalandShareholderInformation
(1)Numbersofordinaryshareholdersandpreferredshareholderswithresumedvotingrightsaswellasholdingsoftop10shareholders
Unit:share
| Numberofordinaryshareholdersattheendofthereportingperiod | 57,724 | Numberofordinaryshareholdersasoftheendofthemonthpriortothedisclosuredateoftheannualreport | 56,364 | Numberofpreferredshareholderswithrestoredvotingrightsattheendofthereportingperiod | 0 | Numberofpreferredshareholderswithrestoredvotingrightsatthemonth-endpriortothedisclosuredateoftheannualreport | 0 | |
| Shareholdingsofthetop10shareholders(excludingshareslentthroughsecuritieslendingandborrowing) | ||||||||
| Nameofshareholder | Typeofshareholder | Shareholdingpercentage | Numberofsharesheld | Restrictedsharesheld | Sharesinpledge,markedorfrozen | |||
| Status | Number | |||||||
| BEIJINGGRAINGROUPCO.,LTD. | State-ownedlegalperson | 39.68% | 288,439,561 | 0 | Notapplicable | 0 | ||
| BEIJINGSTATE-OWNEDCAPITALOPERATIONAND | State-ownedlegalperson | 6.67% | 48,510,460 | 0 | Notapplicable | 0 | ||
| MANAGEMENTCO.,LTD. | ||||||
| WANGYUECHENG | Domesticnaturalperson | 4.74% | 34,459,887 | 29,594,915 | Notapplicable | 0 |
| GOLDMANSACHS&CO.LLC | OverseasLegalPerson | 0.53% | 3,852,862 | 0 | Notapplicable | 0 |
| UBSAG | OverseasLegalPerson | 0.46% | 3,320,887 | 0 | Notapplicable | 0 |
| MORGANSTANLEY&CO.INTERNATIONALPLC. | OverseasLegalPerson | 0.41% | 2,986,667 | 0 | Notapplicable | 0 |
| BARCLAYSBANKPLC | OverseasLegalPerson | 0.32% | 2,352,267 | 0 | Notapplicable | 0 |
| ZHANGXIAOXIA | Domesticnaturalperson | 0.27% | 1,949,250 | 0 | Notapplicable | 0 |
| CHINAINTERNATIONALCAPITALCORPORATIONLIMITED | State-ownedlegalperson | 0.25% | 1,849,800 | 0 | Notapplicable | 0 |
| HECAIXIONG | Domesticnaturalperson | 0.21% | 1,526,100 | 0 | Notapplicable | 0 |
| Disclosureofaffiliationsorconcertedactionamongtheaboveshareholders | ①BeijingState-OwnedCapitalOperationandManagementCompanyLtd.ownsanindirect100%shareofBeijingGrainGroupCo.,Ltd.,andBeijingGrainGroupCo.,Ltd.isthecontrollingshareholderoftheCompany(a39.68%holding).②Mr.WangYuchengresignedasthedeputygeneralmanageroftheCompanyonJuly26,2024,and75%ofthesharesheholdsintheCompanyarelockedup.Exceptfortheshareholderrelationshipsdescribedabove,theCompanyisnotawareofanyrelated-partyrelationshipsoractinginconcertamongthetoptenshareholders. | |||||
| Disclosureonshareholdersinvolvedinsecuritiesmargintrading(ifany) | ShareholderHeCaixiongholds1,526,100sharesoftheCompanythroughacustomercredittransactionguaranteesecuritiesaccountwithGuotaiHaitongSecuritiesCo.,Ltd. | |||||
Shareholdersholdingmorethan5%,thetop10shareholdersandthetop10unrestrictedpublicshareholdersparticipatedinthesecuritieslendingandborrowingbusiness.
□Applicable?NotapplicableThetop10shareholdersandthetop10unrestrictedpublicshareholdersexperiencedchangesfromthepreviousperiodduetosecuritieslendingandborrowingbusiness.
□Applicable?Notapplicable
(2)TotalpreferredshareholdersandshareholdingsofTop10
□Applicable?NotapplicableNopreferredshareholdersinthereportingperiod.
(3)OwnershipandcontrolrelationsbetweentheactualcontrollerandtheCompanydisclosedasboxchart
5.BondsOutstandingasoftheDateofAnnualReportApproval?Applicable?Notapplicable
(1)BondInformation
| NameofBond | AbbreviationofBonds | Bondcode | IssueDate | MaturityDate | BondBalance(intenthousandsYuan) | Interest |
| HainanJingliangHoldingsCo.,Ltd.2023publicissuanceofcorporatebondsforqualifiedinvestors(1stissue) | 23Jingliang01 | 148434 | 21-22Aug2023 | 22Aug2026 | 30,000 | 2.88% |
| Paymentofinterestandredemptionofcorporatebondsinthereportingperiod | InterestpaymentsonbondstotaledRMB8.64million. | |||||
(2)Updatedfollow-upratingandchangesofratingoncorporatebondsThroughtrackinganalysisandassessmentofthecreditstatusoftheCompanyanditsrelatedbonds,ChinaLianheCreditRatingCo.,Ltd.hasdeterminedtomaintaintheCompany'slong-termcreditratingatAA+andmaintainthecreditratingof"23Jingliang01"atAAA,withastableoutlook.
(3)MajoraccountingdataandfinancialindicatorsoftheCompanyfortherecenttwoyearsuptotheendofthereportingperiod
Unit:RMB10,000
| Item | 2025 | 2024 | Increase/Decreasein2025vs.2024(%) |
| Asset-liabilityratio | 47.51% | 47.61% | -0.10% |
| NetprofitattributabletoshareholdersofthelistedCompany,excludingnon-recurringgainsandlosses | -31,091.02 | -1,072.27 | -2,799.55% |
| EBITDA'stotaldebtratio | -4.56% | 8.91% | -13.47% |
| Interestcoverageratio | -3.69 | 0.87 | -524.14% |
PartⅢSignificantEvents
1.PrimaryreasonforthedecreaseinoperatingrevenueduringthereportingperiodTheCompanyadjustedthepositioningofitstradingbusinessandpursuedastrategyofvolumereduction,
resultinginayear-on-yeardecreaseinrevenuefromtheoilstradingbusiness.
2.Primaryreasonsforthenetlossduringthereportingperiod
(1)OilsSegment:Theoilsindustryheavilyreliesonimportedrawmaterials,thepricesofwhicharesusceptibletopoliciesintheoriginatingcountriesandexchangeratefluctuations,posingchallengesforcostcontrol.In2025,theCompanyprimarilysourceditssoybeancrushingrawmaterialsfromSouthAmerica.ThevariablequalityofSouthAmericansoybeansadverselyaffectedcrushingyield,energyconsumption,andprocessingcycletimes,leadingtoincreasedproductioncosts.Furthermore,prolongedportstaysimpactedfactoryoperationalhours,increasingthefixedcostpertonneforoilprocessing.Consequently,profitsdecreasedcomparedtothepreviousyear.
(2)FoodSegment:Thetraditionalsaleschannelsforthesnackfoodindustryfacedsignificantpressurefromthelow-pricestrategiesofsnackchainstoresandintensecompetitionforcustomersononlineplatforms.Themarketisexperiencingseverechanneldisruptionandheightenedcompetition.WhiletheCompanyactivelyintegrateditsmarketingsystem,deepenedcooperationwithleadingplatforms,andpromotednewproductdevelopmentandlaunch,thedeclineintraditionalchannelsoutweighedthegrowthfromnewchannels,whichfellshortofexpectations.Thisledtoadecreaseinproductsalesvolumeandareductioningrossprofitmargin,resultinginayear-on-yeardecreaseinprofit.
(3)OtherFactors:TofairlypresenttheCompany'sfinancialposition,assetvalues,andoperatingresults,inaccordancewiththeAccountingStandardsforBusinessEnterprisesandtheCompany'saccountingpolicies,andtherelevantprovisionsoftheCompany'saccountingpolicies,theCompanyconductedacomprehensivereviewandanalysisofvarioustypesofassetsasoftheendof2025.Basedontheprincipleofprudence,impairmenttestswereperformedonassetsshowingindicationsofpotentialimpairment.Provisionsforimpairmentlosseswererecognizedbasedontheoutcomesofthesetests.
HainanJingliangHoldingsCo.,Ltd.
28March2026