/Yuexiu Capital: 2026 Semi-Annual Report

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Yuexiu Capital: 2026 Semi-Annual Report

Shenzhen Stock Exchange

2026/08/29

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Section 1 Important Tips, Table of Contents and Definitions

The company's board of directors, directors and senior managers guarantee that the contents of the semi-annual report are true, accurate and complete, and that there are no false records, misleading statements or major omissions, and bear individual and joint legal liability.

Mr. Li Feng, the person in charge of the company, Ms. Lin Ying, the person in charge of accounting work, and Ms. Shi Qiyang, the person in charge of the accounting department, declare that they guarantee the authenticity, accuracy and completeness of the financial report in this semi-annual report.

All directors have attended the board meeting to review this semi-annual report.

This report involves forward-looking statements such as future plans and does not constitute the company's substantive commitment to investors. Investors are advised to pay attention to investment risks.

The company has elaborated on possible risks and countermeasures in this report. For details, please refer to the "11. Risks and countermeasures faced by the company" section of "Section 3 Management Discussion and Analysis" of this report. Investors are requested to read carefully and pay attention to investment risks.

The company's mid-term profit distribution plan for 2026, reviewed and approved at the 44th meeting of the 10th board of directors, is as follows: based on the total share capital on the equity registration date when the company implements the profit distribution plan, excluding repurchased shares, a cash dividend of 1.80 yuan (including tax) for every 10 shares will be distributed to all shareholders. No bonus shares will be given, and public reserves will not be converted into share capital. Before the implementation of this plan, if the company's total share capital changes due to the issuance of new shares and other reasons, the company plans to maintain the distribution amount per share unchanged and implement the distribution. This plan is expected to distribute cash dividends of RMB 899,795,244.78 (tax included), accounting for 32.02% of the company’s net profit attributable to shareholders of listed companies in the first half of 2026. The company's board of directors will complete the implementation within two months after the plan is reviewed and approved.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

1. This report contains the signature of the company’s legal representative.

Semi-annual financial statements signed and sealed by the company's legal representative, the person in charge of accounting work and the person in charge of the accounting department, and stamped with the company's official seal.

3. The original copies of all documents and announcements publicly disclosed by the company on the website of the Shenzhen Stock Exchange during the reporting period.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Definition

Interpretation item refers to the interpretation content of the company, the Company, the Group, and Yuexiu Capital. It refers to Guangzhou Yuexiu Capital Holding Group Co., Ltd. The reporting period refers to the beginning of the reporting period of the first half of 2026 (January 1, 2026 to June 30, 2026), the beginning of the period, and the beginning of the year. It refers to January 1, 2026.

The end of the reporting period and period refer to June 30, 2026

Yuan, RMB 10,000, RMB 100 million refers to RMB, RMB 10,000, RMB 100 million. Securities Regulatory Commission refers to China Securities Regulatory Commission.

Shenzhen Stock Exchange refers to Shenzhen Stock Exchange

Guangzhou State-owned Assets Supervision and Administration Commission refers to the State-owned Assets Supervision and Administration Commission of the Guangzhou Municipal People's Government, which is the company's actual controller Yuexiu Group refers to Guangzhou Yuexiu Group Co., Ltd., which is the company's controlling shareholder Guangzhou Yuexiu Capital refers to Guangzhou Yuexiu Capital Holding Group Co., Ltd. Yuexiu Leasing refers to Guangzhou Yuexiu Financial Leasing Co., Ltd.

Guangzhou Assets refers to Guangzhou Asset Management Co., Ltd.

Yuexiu Industrial Fund refers to Guangzhou Yuexiu Industrial Investment Fund Management Co., Ltd. Yuexiu Industrial Investment refers to Guangzhou Yuexiu Industrial Investment Co., Ltd.

Yuexiu Industrial Investment refers to the collective name of Yuexiu Industrial Fund and Yuexiu Industrial Investment. Guangzhou Futures refers to Guangzhou Futures Co., Ltd.

Yuexiu Guarantee refers to Guangzhou Yuexiu Financing Guarantee Co., Ltd.

Yuexiu Financial Technology refers to Guangzhou Yuexiu Financial Technology Co., Ltd.

Shanghai Yuexiu Leasing refers to Shanghai Yuexiu Financial Leasing Co., Ltd.

Yuexiu New Energy refers to Guangzhou Yuexiu New Energy Investment Co., Ltd.

Guangzhou Capital refers to Guangzhou Capital Management (Shanghai) Co., Ltd. Yuexiu Financial International refers to Yuexiu Financial International Holdings Co., Ltd.

Golden Eagle Fund refers to Golden Eagle Fund Management Co., Ltd.

Guangzhou Hengyun refers to Guangzhou Hengyun Enterprise Group Co., Ltd. Guangzhou Industrial Investment refers to Guangzhou Industrial Investment Holding Group Co., Ltd. Guangzhou Metro refers to Guangzhou Metro Group Co., Ltd.

Guangzhou Yueqi refers to Guangzhou Yuexiu Enterprise Group Co., Ltd. Guangzhou Communications Investment Fund refers to Guangzhou Communications Private Equity Fund Management Co., Ltd. Guangzhou Baiyun refers to Guangzhou Baiyun Taxi Group Co., Ltd. Beijing China Post refers to Beijing China Post Asset Management Co., Ltd.

Yuexiu Real Estate refers to Yuexiu Real Estate Co., Ltd.

Yuexiu Transportation refers to Yuexiu Transportation Infrastructure Co., Ltd.

Yuedong New Energy refers to Guangzhou Yuedong New Energy Technology Investment Co., Ltd. CITIC Securities refers to CITIC Securities Co., Ltd.

Guangzhou Securities refers to Guangzhou Securities Co., Ltd., which has been renamed CITIC Securities South China Co., Ltd. Beijing Enterprises refers to Beijing Enterprises Co., Ltd.

Xintian Green Energy refers to Xintian Green Energy Co., Ltd.

Note: In this report, there is a slight difference in the mantissa between some totals and the direct sum of each data. This difference is caused by rounding.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Section 2 Company Profile and Main Financial Indicators

1. Company Profile

Stock abbreviation Yuexiu Capital Stock code 000987

Previously used stock abbreviations: Yuexiu Financial Holdings, Guangzhou Friendship

Stock exchange where stocks are listed Shenzhen Stock Exchange

The Chinese name of the company: Guangzhou Yuexiu Capital Holding Group Co., Ltd.

The company’s Chinese abbreviation: Yuexiu Capital

The company's foreign name is GUANGZHOU YUEXIU CAPITAL HOLDINGS GROUP CO., LTD.

The company's foreign name abbreviation YXCHC

The legal representative of the company Li Feng

2. Contact person and contact information

Secretary of the Board of Directors Name of Securities Affairs Representative Lin Ying Wang Huanhuan

Contact address: Floor 63, No. 5, Zhujiang West Road, Tianhe District, Guangzhou City Floor 63, No. 5, Zhujiang West Road, Tianhe District, Guangzhou City Tel: 020-88835125 020-88835130

Fax 020-88835128 020-88835128

Email [email protected] [email protected]

3. Other situations

Company contact information

The company's registered address, company office address and postal code, company website, e-mail address, etc. did not change during the reporting period. For details, please refer to the 2025 annual report.

Information disclosure and preparation location

The name and URL of the stock exchange website and media where the company discloses its semi-annual report, and the location where the company's semi-annual report is prepared, did not change during the reporting period. For details, please refer to the 2025 annual report.

4. Company Profile

Historical evolution

The company was formerly known as Guangzhou Youyi Store, which was established in October 1959. In 1978, Youyi Store expanded its business and established Guangzhou Youyi Company. On November 18, 1992, the Guangzhou Economic Structural Reform Commission issued "Sui Gai Gu Zi [1992] No. 14", with Guangzhou Youyi Company as the sponsor and Guangzhou Youyi Store Co., Ltd. established through targeted fundraising from internal employees of the company. The company completed industrial and commercial registration on December 24, 1992, and obtained the "Enterprise Legal Person Business License" with registration number 19048177, with a registered capital of 149,421,171 yuan.

After the resolution of the company's 1997 Annual General Meeting of Shareholders and the approval of the Guangzhou Economic Structural Reform Commission's "Sui Gai Gu Zi [1998] No. 6", the company implemented a plan to distribute 2 bonus shares for every 10 shares, and the company's registered capital was changed to 179.3054 million yuan.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

As approved by the China Securities Regulatory Commission (Zhengjianfafazi [2000] No. 85 "Notice on Approving the Public Issuance of Stocks by Guangzhou Friendship Store Co., Ltd."), the company publicly issued 60 million RMB ordinary shares to the public. On July 18, 2000, the company's shares were listed on the Shenzhen Stock Exchange. After the initial public offering of shares was completed, the company's registered capital was changed to 239,305,405 yuan.

In January 2006, the company completed the share-trading reform. For every 10 tradable shares, 3 shares of consideration were paid by shareholders of non-tradable shares, and the company's registered capital remained unchanged.

In July 2008, as approved by the company's 2007 Annual General Meeting of Shareholders, the company implemented a plan to convert every 10 shares into 5 shares. After that, the company's registered capital was changed to 358,958,107 yuan.

In March 2016, as approved by the China Securities Regulatory Commission’s “Reply on the Approval of the Non-public Issuance of Stocks by Guangzhou Friendship Group Co., Ltd.” (CSRC Permit [2016] No. 147), the company non-publicly issued 1,123,595,502 to seven specific targets including the Guangzhou State-owned Assets Supervision and Administration Commission. The funds raised from ordinary shares were used to purchase assets. After this issuance, the company's registered capital was changed to 1,482,553,609 yuan.

In June 2016, as approved by the company's 2015 annual shareholders' meeting, the company implemented a plan to distribute 5 bonus shares for every 10 shares. Since then, the company's registered capital has been changed to 2,223,830,413 yuan.

In July 2016, with the approval of the company’s fourth extraordinary shareholders’ meeting in 2016, the company was renamed “Guangzhou Yuexiu Financial Holding Group Co., Ltd.” Starting from the next month, the company's securities abbreviation was changed from "Guangzhou Friendship" to "Yuexiu Financial Holdings", and the securities code "000987" remained unchanged.

In the second quarter of 2017, the company's industry was changed from "wholesale and retail industry-retail industry" to "financial industry-capital market services".

In October 2018, the China Securities Regulatory Commission approved the "Reply on the Approval of Guangzhou Yuexiu Financial Holding Group Co., Ltd.'s Issuance of Shares to Guangzhou Hengyun Enterprise Co., Ltd. and Others to Purchase Assets and Raise Supporting Funds" (China Securities Regulatory Commission Permit [201 8〕1487) approved, the company non-publicly issued 443,755,472 ordinary shares to Guangzhou Hengyun and other six specific objects, and 85,298,869 ordinary shares to Guangzhou Yueqi for the purpose of purchasing assets. After this issuance, the company's registered capital changed to 2,752,884,754 yuan. In March 2019, the company transferred 100% equity of Guangzhou Youyi to Guangzhou Guangshang Capital Management Co., Ltd. to complete the transfer.

In January 2020, the company completed the transfer of 100% equity of Guangzhou Securities to CITIC Securities.

In the second quarter of 2020, the company's industry was changed from "Financial Industry-Capital Market Services" to "Financial Industry-Other Financial Industries".

In August 2021, as approved by the company's 2020 annual shareholders' meeting, the company implemented a plan to increase 3.5 shares for every 10 shares. Since then, the company's registered capital has been changed to 3,716,394,417 yuan.

In June 2022, as approved by the company's 2021 Annual General Meeting of Shareholders, the company implemented a plan to convert 3.5 shares for every 10 shares. Since then, the company's registered capital has been changed to 5,017,132,462 yuan.

In November 2022, with the approval of the company's fourth extraordinary shareholders' meeting in 2022, the company changed its name to "Guangzhou Yuexiu Capital Holding Group Co., Ltd.". Starting from the next month, the company's securities abbreviation was changed from "Yuexiu Financial Holdings" to "Yuexiu Capital", and the securities code "000987" remained unchanged.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Organizational structure at the end of the period

Party Committee Shareholders Meeting

Discipline Inspection Commission

board of directors

Strategy and Sustainability Committee Remuneration and Appraisal Committee

Risk and Capital Management Committee Nomination Committee

audit committee

general manager

deputy general manager

Ann

(

Party Discipline, War, Science, Assets, Directors, Risks, Customers, Money, Number of People, All

Financial Audit Group Committee Strategy Technology Capability Management Resources Fusion Words Office Capacity Guarantee

Meeting, Accounting, Work Planning, Management, Innovation, Economics and Legal Management, Research, Science, Public Finance and Health

Office of Justice, Xinying, Public Affairs Cooperation and Cooperation Research and Technology Office, Source Supervision Center

room

Department, Office, Department, Department, Regulation Department, Department of the same Department, Department, Department, Department Supervisor)

Department

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Equity structure chart at the end of the period

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Main business qualifications

Company name Business qualification Time of initial acquisition Business authority Financial leasing business April 27, 2012 Guangdong Provincial Local Financial Administration Bureau Yuexiu Leasing

Medical device business license April 25, 2013 Guangzhou Municipal Market Supervision Administration's bulk acquisition and disposal business of non-performing assets of financial enterprises in Guangdong Province July 13, 2017 Guangdong Local Financial Administration Guangzhou Assets acquired the single-family corporate non-performing loan business of participating pilot banks in Guangdong Province March 18, 2021 Guangdong Local Financial Administration participated in the pilot batch transfer of personal non-performing loans June 17, 2021 Private equity and venture capital fund management business of Guangdong Provincial Local Financial Administration Bureau (provided by Yuexiu Industrial Fund

April 1, 2014 China Securities Investment Fund Association Yuexiu Industry Fund, Guangzhou Yuexiu Venture Capital Fund Management Co., Ltd.)

Fund private securities investment fund management business (provided by Guangzhou Yuexiu Private Securities Investment

April 2, 2018 (held by China Securities Investment Fund Management Association-funded Fund Management Co., Ltd.)

China Securities Regulatory Commission’s qualification for commodity futures brokerage business July 22, 2003

Eastern Supervision Bureau

China Securities Regulatory Commission Guangzhou Financial Futures Brokerage Business Qualification September 14, 2011

Eastern Supervision Bureau

China Securities Regulatory Commission Guangzhou Futures Investment Consulting Business Qualification November 15, 2012

Guangzhou Futures East Supervision Bureau

China Securities Regulatory Commission Guangdong Asset Management Business Qualification January 22, 2015

Eastern Supervision Bureau

Business qualifications for basis trading, warehouse receipt services, cooperative hedging, and pricing services

January 17, 2017 China Futures Association

(Held by Guangzhou Capital)

Market making business qualification (held by Guangzhou Capital) August 20, 2021 China Futures Association

5. Main accounting data and financial indicators

Reasons why the company retroactively adjusts accounting data of previous years

On July 8, 2025, the Accounting Department of the Ministry of Finance of the People's Republic of China issued the "Implementation Questions and Answers on Accounting Treatment Related to Standard Warehouse Receipt Transactions". The company will implement the Q&A regulations from January 1, 2025, and make adjustments to the 2025 half-year financial data. For details, please refer to the "Announcement on Changes in Accounting Policies" (announcement number: 2026-020) disclosed by the company on cninfo.com (www.cninfo.com.cn, the same below) on April 9, 2026.

On December 19, 2020, the Ministry of Finance of the People's Republic of China revised and issued the "Accounting Standards for Business Enterprises No. 25 - Insurance Contracts" (hereinafter referred to as the "New Insurance Contract Standards"). The company will implement the New Insurance Contract Standards from January 1, 2026. For details, please refer to the "Announcement on Changes in Accounting Policies" disclosed by the company on cninfo.com on April 30, 2026 (announcement number: 2026-034). In accordance with the requirements of the new insurance contract standards, the company uses the retrospective adjustment method to retrospectively adjust the financial statement data of previous years and comparable periods.

The above adjustments have no significant impact on the company's balance sheet and income statement results.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Unit: Yuan Reporting period compared with the same period last year

This reporting period Increase/decrease over the same period (%)

Before adjustment After adjustment After adjustment, total operating income 3,593,831,821.48 5,537,142,493.02 4,097,180,946.96 -12.29% Net profit attributable to shareholders of listed companies 2,809,943,228.14 1,558,440,127.36 1,558,062,290.88 80.35% of the non-deductions attributable to shareholders of the listed company

2,266,921,878.91 1,550,973,165.56 1,550,595,329.08 46.20% Net profit from recurring gains and losses

Net cash flow generated from operating activities 2,163,276,067.02 4,303,557,404.05 4,303,557,404.05 -49.73% Basic earnings per share (yuan/share) 0.5596 0.3093 0.3092 80.98% Diluted earnings per share (yuan/share) 0.5596 0.3093 0.3092 80.98% Weighted average return on equity (%) 8.43% 5.05% 5.05% Increased 3.38 percentage points The end of this reporting period compared with the end of the previous year

Increase/decrease at the end of the reporting period (%)

Before adjustment After adjustment After adjustment Total assets 228,439,574,320.70 213,198,291,696.13 213,200,784,724.19 7.15% owners attributable to shareholders of listed companies

35,095,467,283.04 33,229,960,063.99 33,222,480,979.82 5.64% equity

Note 1: Basic earnings per share and diluted earnings per share during the reporting period are calculated based on the share capital minus the number of shares repurchased treasury shares. The above indicators and weighted average return on equity have all deducted the impact of perpetual bonds.

6. Differences in accounting data under domestic and foreign accounting standards

Differences in net profit and net assets in financial reports disclosed in accordance with both international accounting standards and Chinese accounting standards

□Applicable Not applicable

Differences in net profit and net assets in financial reports disclosed in accordance with both foreign accounting standards and Chinese accounting standards

□Applicable Not applicable

Explanation of reasons for differences in accounting data under domestic and foreign accounting standards

□Applicable Not applicable

7. Non-recurring profit and loss items and amounts

Unit: Yuan

Item Amount for this reporting period Description

Gains and losses on disposal of non-current assets (including accrued

1,699,361.99 Mainly income from disposal of fixed assets

Offset portion of asset impairment provision)

Government subsidies included in current profits and losses (related to the company’s regular

Closely related to regular business operations and in compliance with national policies

9,025,613.85 Mainly due to receipt of government subsidies related to daily activities, enjoyment according to determined standards, and benefits to the company

Except for government subsidies that have a lasting impact on profits and losses)

The company acquires subsidiaries, associates and joint ventures mainly because the investment cost of the company's associate Beijing Enterprises Holdings is less than the 671,684,411.44 rights it should enjoy when acquiring the investment. Guangzhou Assets increases the fair value of the identifiable net assets of the investee of the associate Yuexiu Real Estate. The investment cost is less than the investment should enjoy.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Item Amount for this reporting period Description

Income generated from the fair value of identifiable net assets, other non-operating income and

602,239.63

expenditure

Less: Impact on income tax 77,304,855.01

Amount of impact on minority shareholders’ equity (after tax) 62,685,422.67

Total 543,021,349.23

Explanation on defining the non-recurring profit and loss items listed in the "Explanatory Announcement No. 1 on Information Disclosure of Companies Publicly Offering Securities - Non-recurring Profit and Loss" as recurring profit and loss items

Item Amount involved (yuan) Reason

Except for effective transactions related to the company’s normal business operations,

In addition to futures hedging business, we also hold trading financing

Assets, derivative financial assets, trading financial liabilities. Changes in fair value arising from the holding subsidiaries Guangzhou assets, Yuexiu Industrial Fund, bonds, and derivative financial liabilities. Yuexiu Industrial Investment and Guangzhou Futures are financial or

1,584,656,297.86

Non-recurring profits and losses, as well as the disposal of trading financial assets and quasi-financial enterprises, investments in financial assets belong to main derivative financial assets, trading financial liabilities and derivative businesses, and do not belong to non-recurring gains and losses, financial liabilities and other investments obtained from debt investments.

capital income

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Section 3 Management Discussion and Analysis

1. Overview of the company’s operating conditions in the first half of 2026

The company is a diversified financial business listing platform under the Guangzhou State-owned Assets Supervision and Administration Commission. It has currently formed a "3+1" core industrial structure of "financial leasing, non-performing asset management, investment management + strategic investment in CITIC Securities", and controls futures, financial technology and other business units, building a financial service system covering multiple fields. The company is guided by "financial services serve the real economy and promotes high-quality development", adheres to the mission of "returning customers, employees, shareholders and society", adheres to the two-wheel drive of industrial operation and capital operation, and is committed to developing into a leading domestic industrial finance listing platform.

Seize strategic opportunities and achieve new highs in operating performance

The company takes "seeking progress while maintaining stability and seeking transformation, improving quality and efficiency to promote development" as the main line of its annual operations. It closely follows the national strategic guidance, actively seizes policy opportunities such as technological innovation and the cultivation of new productive forces, deepens its core business, optimizes operations and management, and achieves substantial growth in operating performance. In the first half of 2026, the company achieved total operating income of 3.594 billion yuan; net profit attributable to shareholders of listed companies was 2.810 billion yuan, a year-on-year increase of 80.35%; net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 2.267 billion yuan, a year-on-year increase of 46.20%, a record high for the same period in history; return on net assets (ROE) was 8.43%, an increase of 3.38 percentage points from the same period last year. As of the end of the reporting period, the company's total assets were 228.440 billion yuan, net assets attributable to shareholders of listed companies were 35.095 billion yuan, the asset-liability ratio was 77.05%, and the financial structure remained stable. The operating results in the first half of the year have laid a solid foundation for a good start and a good start for the "15th Five-Year Plan", and the company's high-quality development momentum has been further enhanced.

Deepen business transformation and continue to consolidate development momentum

The company continues to deepen its green, technological, and inclusive transformation, with the total new investments in related fields accounting for 77% during the reporting period. The first is to continuously optimize the green asset structure. The new energy financial leasing business has grown strongly, the synergy between green and inclusive development has continued to increase, and the household distributed photovoltaic business operating model has become increasingly mature. As of the end of the reporting period, the installed capacity of household distributed photovoltaic power stations managed by the company reached 17GW (including 13.81GW of controlled installed capacity), with a total of 600,000 power stations installed. The second is to actively expand technology leasing and investment business. In terms of financial leasing, we focus on shipping, semiconductors, computing power, unmanned driving, robots, low-altitude aircraft, etc., to provide equipment financing support for technology-based enterprises; in terms of investment, we increase investment in hard technology fields such as new energy, artificial intelligence and semiconductors, and biomedicine, and carry out A-share strategic placement and other businesses, and achieve good investment returns. During the reporting period, the company invested a total of 2.758 billion yuan in the technology field. The third is to continue to expand the scale of inclusive finance business. The company vigorously develops inclusive leasing, focusing on construction machinery, passenger cars, and commercial vehicles, and provides financial leasing services to terminal small, medium and micro enterprises. During the reporting period, the commercial vehicle rental business achieved a breakthrough in volume, with new launches increasing by 65% year-on-year.

Strengthen financing capabilities and improve efficiency through lean management

The company actively seizes market opportunities and deeply implements the financing strategy of "expanding channels, controlling costs, and adjusting structures" to effectively guarantee the capital needs for business development. First, broaden financing channels. During the reporting period, the company and its subsidiaries maintained good credit ratings, adhered to the synergy between indirect financing and direct financing, actively expanded the financing ecosystem of banks, trusts, insurances, funds, and bank wealth management subsidiaries, and maintained sufficient financing reserves. The second is to reduce financing costs. The company strengthens the bond market interest rate tracking analysis and valuation and price research and judgment, seizes the market financing window, and achieves a continuous reduction in overall financing costs through methods such as "controlling new additions and adjusting existing stocks." Financing costs at the end of the period dropped by 12BP compared with the beginning of the year, and lean management achieved remarkable results. The third is to optimize the financing structure. On the one hand, it coordinated with the green finance strategy and actively expanded green financing varieties and channels. The balance of green financing at the end of the period was 49.290 billion yuan, an increase of 31% from the end of 2025; on the other hand, it expanded long-term financing channels around long-term capital needs, and launched 10-year merger and acquisition loans for the first time. The number of issuers of bonds with maturities of 10 years and above reached three. The overall debt duration was further lengthened, and the liquidity safety defense line continued to be built.

Optimize risk management and keep the overall risk situation under control

The company adheres to the risk concept of "comprehensive risk management and steady creation of value", comprehensively uses systems, products, systems and other tools to continuously improve the quality and efficiency of risk management, and the overall risk situation is safe and controllable. The first is to dynamically optimize risk policies. Closely track national policy guidance, industry cycle changes and market trends, promptly adjust regional, industry and customer risk policies, strengthen risk concentration management and control, and effectively support and lead the steady development of business. The second is to strengthen risk classification management. We will continue to strengthen strategic risk, credit risk, market risk and liquidity risk management, and strengthen core asset risk monitoring and key industry risk research and judgment. At the same time, we will adjust product policies and product plans in a timely manner based on regulatory requirements and business realities to enhance the competitiveness of the industry. The third is to improve digital risk control capabilities. Continue to improve the construction of the risk early warning system, strengthen the effectiveness of risk early warning closed-loop management and control, and continuously improve business support and lean management capabilities. At the end of the reporting period, Yuexiu Leasing's credit asset non-performing ratio was 0.61%, which was lower than the average level of the financial leasing industry.

Strengthen digital construction and solidly advance digital and intelligent transformation

The company solidly promotes digital and intelligent transformation, empowers operation management and business development, and deepens the innovative application of cutting-edge technologies. First, strengthen the integration of digital technology and business to improve

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Digital operation level. Yuexiu Leasing focuses on promoting the iteration of commercial vehicle retail and channel systems to improve business flow efficiency and management refinement; Guangzhou Asset accelerates the upgrade and launch of a new generation of core systems to effectively support the implementation of key operational measures; Yuexiu Industrial Fund completes the optimization and upgrade of modules such as the Foresight Investment Management System and the ABS Investment Calculation System to promote operational quality and efficiency. The second is to continue to deepen innovative applications and continuously release the effectiveness of AI empowerment. More than 10 innovative scenarios have been added, including the AI order review assistant for commercial vehicle retail business and the equity project review agent. At the same time, multiple special innovation trainings have been organized for front-line personnel to enhance the innovation awareness and practical capabilities of all employees.

2. The company’s main business operations in the first half of 2026

Yuexiu Leasing

Yuexiu Leasing, the company's holding subsidiary, is mainly engaged in financial leasing business. Founded in 2012, Yuexiu Leasing implements green finance, technology finance and inclusive finance, and is committed to building a first-class financial leasing company in the country driven by technology. As of the end of the reporting period, the registered capital was HK$11.528 billion, and China Chengxin's credit rating was AAA. Its capital strength and credit rating ranked among the top in the financial leasing industry. It was awarded the title of "China Financial Leasing Company of the Year" for eleven consecutive years from 2015 to 2025. During the reporting period, Yuexiu Leasing obtained the AA-level ESG rating of China Chengxin Green Gold, and won the Ge-1 green enterprise certification for five consecutive years (the highest level assessed by China Chengxin Green Enterprise); Shanghai Yuexiu Leasing and Yuexiu New Energy maintained their AAA subject credit ratings, reflecting excellent market recognition.

Industry situation

(1) Financial leasing industry situation

In the first half of 2026, the domestic financial leasing industry has entered a critical period of high-quality development, showing a positive trend of "total volume optimization, structural upgrading, and momentum conversion" as a whole. At the regulatory level, the State Administration of Financial Supervision and Administration's "Measures for the Management of Financial Leasing Business of Financial Leasing Companies" (Jin Gui [2025] No. 25) was officially implemented on January 1, 2026, and the Department of Inclusive Finance "Letter on Financial Leasing Companies Referring to the Measures for the Management of Financial Leasing Business of Financial Leasing Companies" (Jin Puhui Letter [2026] No. 24 Document No. 1) further clarifies that commercial financial leasing companies will be implemented as a reference, marking the full implementation of the regulatory framework of "similar businesses, equal supervision" in the industry. The implementation details of "one province, one policy" in various regions are steadily advancing, and the negative list mechanism for leased properties is gradually rolled out to effectively regulate the market order, purify the qualifications of business entities, and continue to optimize the market competition environment of leading compliance institutions. On the basis of the finalization of the regulatory framework, the directional pull of industrial policies will be launched simultaneously. Incentive measures have been introduced in many places to promote financial leasing towards high-end manufacturing fields such as ships, aircraft, and spacecrafts. This has formed a clear policy resonance with the top-level designs such as energy transformation and industrial upgrading released at the same time, providing a more certain industrial scenario for the anchoring of leasehold value and asset operation management. As a result, the regulatory side's "clear boundaries" and the industrial side's "pointing out the direction" form a synergy to jointly drive the industry from the scale-driven "first half" to the value-driven "second half." Looking forward to the future, areas such as green and low-carbon, digital smart technology, and inclusive finance will become the core tracks for financial leasing companies' business transformation and performance growth. The industry is gradually ushering in broad space for professional and differentiated development.

(2) New energy industry situation

In May 2026, the National Development and Reform Commission and the National Energy Administration issued the "Notice on Matters Concerning the Orderly Promotion of the Development of Multi-User Green Electricity Direct Connection" (Fagai Energy [2026] No. 688), which clarified that distributed photovoltaics can participate in multi-user green electricity direct connection transactions through a centralized convergence model, and give priority to the development of emerging industries such as computing power facilities and green hydrogen ammonia alcohol, opening up a new space for the local consumption of new energy power. In June 2026, the National Development and Reform Commission and the National Energy Administration released the "15th Five-Year Plan for the Construction of New Energy Systems", which serves as a programmatic top-level design document for energy transformation and provides a deterministic policy window for the wind, solar, hydrogen storage industry and the construction of new power systems. In the first half of the year, photovoltaic and wind power continued to be prosperous. The country's new grid-connected photovoltaic capacity reached 71.77 million kilowatts, and the cumulative installed capacity reached 1.272 billion kilowatts, a year-on-year increase of 15.8%; the new wind power grid-connected capacity reached 38.62 million kilowatts, and the cumulative grid-connected capacity reached 679 million kilowatts, a year-on-year increase of 18.5%. At the same time, the green certificate issuance and trading system continues to improve, and the market-oriented mechanism continues to improve. In the first half of the year, the National Energy Administration issued a total of 1.665 billion green certificates, of which 426 million were traded. With the characteristics of "financing + property financing", the financial leasing business can provide strong financial support for asset-heavy, long-term new energy projects. More and more leasing companies are entering the new energy segment. Overall, the new energy industry has formed a coordinated development pattern of "policy guidance - market drive - financial support". While the scale continues to expand, the quality of development and the degree of marketization have steadily improved. (Data source: National Energy Administration)

Yuexiu leasing operations in the first half of 2026

In the first half of 2026, Yuexiu Leasing achieved total operating income of 3.117 billion yuan and net profit of 576 million yuan; its holding subsidiary Yuexiu New Energy achieved total operating income of 1.935 billion yuan and net profit of 247 million yuan. As of the end of the reporting period, Yuexiu Leasing's total assets were RMB 102.741 billion, historically entering the RMB 100 billion category, with net assets of RMB 18.516 billion; of which Yuexiu New Energy's total assets were RMB 39.295 billion, with net assets of RMB 11.934 billion.

In the first half of 2026, Yuexiu Leasing's financial leasing business transformation and structural adjustment have been further advanced, the product system has become more diversified, and a "green, technological, and inclusive" business pattern has initially taken shape. During the reporting period, a total investment of 17.951 billion yuan was completed, a year-on-year increase of 47.89%. First, the optimization and upgrading of new energy business. We increased investment in new energy financing leasing, with an additional investment of 11.827 billion yuan, a year-on-year increase of 108.27%. Second, Puhui leasing business has steadily expanded. New investment was 3.302 billion yuan, a year-on-year increase of 38.78%, of which commercial

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

The vehicle retail leasing business achieved breakthrough growth, and the construction machinery business continued to deepen strategic cooperation with core manufacturers. Third, the technology leasing business is actively promoted. Focusing on technology businesses such as ships and science and technology innovation, the amount invested in ship leasing has increased significantly, helping Guangzhou Nansha District to build a ship and marine engineering equipment industry cluster. During the reporting period, the company successfully launched its first US dollar ship financial leasing business, achieving an important breakthrough in the field of cross-border ship leasing. Yuexiu Leasing adheres to the guiding ideology of "seeking progress while maintaining stability", follows the company's overall risk management philosophy, and continues to improve the quality of risk management. At the end of the period, the credit risk asset non-performing rate of its financial leasing business was 0.61%, which is at a low level in the industry.

As the main undertaking body of the company's green finance strategy, Yuexiu Leasing organically combines the "dual carbon" strategy with rural revitalization and continues to deepen green transformation. At the end of the reporting period, the installed capacity of household distributed photovoltaic power stations in operation reached 11.85GW, with a total of 400,000 installed power stations, covering 24 provinces, autonomous regions and municipalities across the country, providing clean power and sunlight benefits to farmers; during the reporting period, the total amount of new energy power generation was 6.448 billion kilowatt-hours. It actively carried out green electricity transactions, and successfully sold 365,800 green certificates during the reporting period; promoted the closed loop of investment and financing. During the reporting period, Yuexiu New Energy maintained an AAA credit rating, and Yuexiu Leasing issued green ABS products on a large scale, further opening up a virtuous cycle from financing to investment.

Guangzhou Assets

Guangzhou Asset, the company's holding subsidiary, is mainly engaged in non-performing asset management business. Founded in 2017, Guangzhou Asset is the second local asset management company in Guangdong Province and the first fully qualified local asset management company in Guangdong Province, with a registered capital of 7.361 billion yuan at the end of the period. Guangzhou Asset's value positioning is to resolve local financial risks and serve national strategies, and insists on focusing on the main business of non-performing asset management. It has been awarded the AAA rating by China Chengxin Entity for nine consecutive years since 2018, maintaining the highest credit rating among local asset management companies in the country. In 2026, Guangzhou Asset, as the rotating chairman unit of the local non-performing asset management industry, hosted the 11th Annual Conference of the Local Non-Performing Asset Management Industry and won many awards such as the "Outstanding Contribution Award" and "Pioneer Leadership Award", further enhancing the influence of the industry.

Industry situation

In recent years, national regulatory authorities have continued to strengthen policy guidance and industry support, promoting local asset management companies to adhere to their core functions of preventing and resolving regional financial and real economic risks, encouraging institutions to explore business model innovation on the premise of legal compliance, and enriching the toolbox for regional risk disposal and market entity relief. At the same time, the regulatory level clearly encourages local asset management companies to give full play to their professional experience and capabilities in the field of non-performing asset disposal and risk management, and deeply participate in the risk clearance of the real estate industry, risk resolution of small and medium-sized financial institutions, and risk resolution of local government financing platforms. On July 15, 2025, the State Administration of Financial Supervision issued the "Interim Measures for the Supervision and Administration of Local Asset Management Companies", marking a new standardization stage for industry supervision. On the one hand, the new regulations emphasize "returning to the origin and focusing on the main business", strengthening local operation requirements, and continuing to release clear signals of strict supervision; on the other hand, the new regulations systematically define the scope of non-performing asset business and clearly include restructured assets, credit-impaired assets and other categories within the scope of acquisition, providing a clear institutional framework for industry development. This move will help guide enterprises to improve their compliance management capabilities and risk prevention and control levels, and also lay a solid institutional foundation for the professional transformation and long-term healthy development of the industry. In addition, driven by regulatory guidance and market changes, the non-performing asset management industry is accelerating its transformation from the traditional "acquisition + disposal" model to investment banking. Industry organizations comprehensively use investment banking methods such as debt restructuring, asset restructuring, debt-for-equity swaps, and asset securitization to deeply explore the space for value restoration of non-performing assets. Investment banking transformation has become an industry consensus and an important yardstick for measuring core competitiveness.

Under the joint action of regulatory guidance and risk resolution needs, the supply of non-performing assets continues to expand, bringing business opportunities to asset management companies. As of the end of June 2026, the balance of non-performing loans of commercial banks across the country was 3.7 trillion yuan, and the non-performing loan rate was 1.52%. From a regional perspective, the balance of non-performing loans of banking financial institutions in Guangdong is approximately 336.4 billion yuan, with a non-performing loan ratio of 1.65%. Faced with the pressure of non-performing assets, listed banks continue to increase their efforts to off-balance-sheet non-performing loans, and in addition to traditional write-off methods, actively dispose of risky assets through diversified methods such as non-performing asset securitization and third-party transfer. At the same time, in the first half of the year, many local asset management companies actively explored investment banking transformation paths and launched a number of representative projects in the areas of revitalizing distressed assets, bankruptcy reorganization of listed companies, and corporate bailouts. They achieved asset value restoration and multi-party interest balance through multiple means, and accumulated useful practical experience for industry transformation. (Data source: State Financial Supervision and Administration Bureau)

Guangzhou’s asset operations in the first half of 2026

In the first half of 2026, Guangzhou Asset actively responded to operating challenges, continued to promote business operation transformation, completed a capital increase of 1.5 billion yuan, and achieved a net profit of 468 million yuan, a significant year-on-year increase, and the quality and efficiency of operations have steadily improved. As of the end of the reporting period, Guangzhou Asset's total assets were 49.479 billion yuan and net assets were 14.522 billion yuan.

In the first half of 2026, Guangzhou Asset focused on its core business of non-performing asset management and continued to improve its ability to resolve regional financial risks and serve the real economy. Actively seizing market opportunities, the Company acquired an additional RMB 5.907 billion of non-performing assets during the reporting period, effectively serving the regional financial risk resolution; at the same time, it accelerated asset revitalization and turnover, and disposed of RMB 4.617 billion of non-performing assets.

Guangzhou Asset firmly promotes the investment banking transformation strategy, and the transformation results continue to show results. In terms of industrial value improvement, it promoted the operational repair, transformation and upgrading of real enterprises and empowered the development of new productive forces. During the reporting period, it participated in the reorganization and reorganization projects of multiple listed companies, successfully exited several projects such as Songfa Co., Ltd. and Hanma Technology, and achieved good returns. In terms of asset operations, we successfully took over multiple high-quality debt-retired properties, deployed oversold core assets, improved asset operation efficiency and sustained and stable profitability, and assisted urban construction and regional value enhancement.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Yuexiu Industrial Investment

The company's holding subsidiaries, Yuexiu Industrial Fund and Yuexiu Industrial Investment, are mainly engaged in investment management business. Among them, Yuexiu Industrial Fund is a private equity fund manager registered with the Asset Management Association of China. It implements professional management of the entire process of "raising, investment, management and withdrawal" of fund assets; during the reporting period, it won many industry awards such as "Top 11 of the Top 100 Industrial Investments in 2026", "TOP 30 Best Investment Institutions in China's Carbon Neutral Industry", "TOP 30 Best Investment Institutions in Advanced Manufacturing", and "TOP 50 Best Chinese Private Equity Investment Institutions in China". Yuexiu Industrial Investment is the company's own capital investment platform, with a registered capital of 7 billion yuan at the end of the period (industrial and commercial change registration is in progress), and the China Integrity Subject Rating is AA+. As an investor, Yuexiu Industrial Investment invests in products such as parent funds and equity investment funds managed by Yuexiu Industrial Fund. Yuexiu Industrial Investment deeply serves the development of the real economy and emerging industries in the Guangdong-Hong Kong-Macao Greater Bay Area through the two-wheel drive approach of "cornerstone investment + direct investment".

Industry situation

On June 5, 2026, the General Office of the State Council issued the "Guiding Opinions on Strengthening Supervision and Preventing Risks to Promote the High-Quality Development of Private Equity Investment Funds". As a programmatic document for the industry, it further clarifies the regulatory orientation of "supporting the good and limiting the bad", focusing on supporting venture capital funds and M&A funds that invest early, small, long-term, and invest in hard technology. At the policy level, the threshold for setting up government investment funds is synchronously regulated to guide social capital to focus on key national strategic areas. In addition, the State Administration of Financial Supervision and Administration issued the "Notice on Matters Concerning Adjustment of the Supervision Ratio of Equity Assets in Insurance Funds", which raised the upper limit of the supervision ratio of equity assets for insurance institutions with a comprehensive solvency adequacy ratio of more than 350% from 45% to 50%, and relaxed the concentration restrictions on investment in venture capital funds by insurance funds to guide insurance funds to increase support for strategic emerging industries. With the implementation of the National Venture Capital Guidance Fund and the continuous improvement of related assessment and fault-tolerance mechanisms, the industry ecosystem is steadily transforming from "scale-driven" to "value-driven", and the cultivation of patient capital and long-term capital is accelerating.

In terms of fundraising, in the first half of 2026, a total of 3,981 funds in my country's private equity market completed a new round of fundraising, a year-on-year increase of 95.8%; the amount raised was 1,049.464 billion yuan, a year-on-year increase of 49.6%, and the fundraising side accelerated its recovery. Institutions such as government investment funds, local state-owned assets platforms, financial institutions, insurance companies, and bank AICs are actively investing and have initiated the establishment of many large-denomination RMB funds. In terms of investment, a total of 5,944 investment cases occurred in the first half of the year, with a disclosed investment amount of 565.4 billion yuan, a year-on-year increase of 14.7% and 31.9% respectively. State-owned investment institutions are still the main participants in the market, leading many large-scale financing cases and guiding market funds to invest in large models, physical AI, computing power, robotics, aerospace and other fields. In terms of exit, IPO is still the main exit channel for investment institutions. In the first half of the year, a total of 71 companies completed initial listings in the A-share market, a year-on-year increase of 39.2%; total funds raised were 69.466 billion yuan, a year-on-year increase of 87.4%. In the overseas market, Hong Kong stock listings continued to be active. A total of 87 companies completed IPOs in the first half of the year, raising a total of HK$210.2 billion, a significant year-on-year increase. The amount of funds raised ranked second among the world's major exchanges; among them, the "A+H" dual listing has become the core pillar supporting the scale of Hong Kong stock fundraising. (Data source: Zero2IPO Research Center, Hong Kong Stock Exchange, Wind)

Yuexiu Industrial Investment’s operations in the first half of 2026

In the first half of 2026, Yuexiu Industrial Investment actively seized opportunities for the steady development of the capital market and achieved good returns on equity investments. During the reporting period, it achieved various business income (total operating income, investment income and gains and losses from changes in fair value) of 815 million yuan and a net profit of 375 million yuan, a year-on-year increase of 34.85% and 108.00% respectively.

(1) Operation status of Yuexiu Industrial Fund

Yuexiu Industrial Fund is a leading industrial capital operator in the Guangdong-Hong Kong-Macao Greater Bay Area. Its management fund types include equity investment funds, S funds, FOF funds and new energy mezzanine funds.

In terms of fundraising, we adhere to an institutional fundraising strategy and cooperate with LPs including national, provincial and municipal guidance funds, state-owned enterprises in Guangdong, Hunan, Jiangxi, Zhejiang and other places and leading domestic insurance institutions. In the first half of 2026, Yuexiu Industrial Fund continued to iteratively upgrade the "flagship + industry + regional" fund product system, actively expanded fundraising channels, raised a new Guangzhou Yuexiu Intelligent Manufacturing Venture Capital Partnership (Limited Partnership) with a scale of 1 billion yuan, and successfully selected the manager of the Guangzhou Artificial Intelligence Sub-fund.

In terms of investment, in the first half of the year, an additional investment of 3.649 billion yuan was achieved, including 1.180 billion yuan in equity assets and 2.469 billion yuan in fixed-income assets such as ABS and new energy. Yuexiu Industrial Fund adheres to the dual-core strategy of "industrial alliance + investment research drive", builds a collaborative ecosystem with leading companies in key industries such as new energy, artificial intelligence and semiconductors, and biomedicine, systematically explores and cultivates high-value investment projects along the upstream and downstream of the industrial chain, and uses capital empowerment to promote the development of new productivity. During the reporting period, a total of 11 invested companies achieved IPO. In terms of new energy asset management, we systematically build a theme fund matrix for new energy subdivisions and actively build a professional green asset investment and management platform with industry influence.

(2) Yuexiu Industrial Investment and Operation Situation

Yuexiu Industrial Investment is the company's own capital investment platform. By investing in parent funds, equity funds and fixed income products of which Yuexiu Industrial Fund is the manager, it has two-way empowerment and positive interaction with the fund management business of Yuexiu Industrial Fund to build a comprehensive asset allocation portfolio of "equity + fixed income" to ensure the steady appreciation and sustainable returns of the company's own funds.

As of the end of the reporting period, the scale of equity assets of Yuexiu Industrial Investment was RMB 9.281 billion. The investment portfolio closely focused on national strategic emerging industries and had an in-depth layout in hard technologies.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Technology and other tracks to capture the long-term value in industrial upgrading. At the same time, it expanded its A-share strategic placement business and built a diversified profit system that connects the primary and secondary markets. During the reporting period, strategic placement projects such as China Resources New Energy, Tianhai Electronics, and Huike were implemented. The scale of fixed income assets is 11.445 billion yuan. The underlying assets include credit and infrastructure ABS, new energy mezzanine funds and public REITs, etc., forming an asset allocation structure that balances stability and returns.

Guangzhou Futures

The company's holding subsidiary Guangzhou Futures is mainly engaged in futures business, and its business scope includes futures brokerage business, futures trading consulting business, asset management business, risk management subsidiary business, etc. As of the end of the reporting period, it had 14 branches and 1 risk management subsidiary, with business spread across the country. Guangzhou Futures continues to standardize governance and vigorously promote the transformation into a professional comprehensive commodity service provider focusing on serving the real economy.

Industry situation

In recent years, my country's futures market has continued to deepen its development on the track of legalization. With the full implementation of the Futures and Derivatives Law of the People's Republic of China and the continuous improvement of the supporting regulatory system, the institutional foundation for market operation has become increasingly solid, and the ability to serve the high-quality development of the real economy has been systematically improved. In April 2026, the China Securities Regulatory Commission issued the "Measures for the Supervision and Administration of Futures Companies (Draft for Comments)", further requiring futures companies to strengthen capital constraints, implement equity penetration supervision, improve business classification management, and promote the industry to return to its roots and improve quality and efficiency. At the same time, uncertainty in the external macro environment continues to intensify. The geopolitical conflict in the Middle East has triggered sharp fluctuations in the international energy, commodity and global financial markets, and the risks of various price fluctuations have increased significantly.

In the first half of 2026, against the background of intensified global geopolitical conflicts and violent fluctuations in commodity prices, risk management has become a core part of the operation and management of real enterprises, and enterprises upstream and downstream of the industrial chain have entered the market to carry out hedging business. The value positioning of futures and derivatives instruments continues to improve, and it has gradually transformed from traditional "passive hedging and value preservation" to a core strategic tool for enterprises to "actively manage risks." The futures market's function as an important financial infrastructure that ensures the security of industrial and supply chains and supports the smooth operation of the macroeconomy is fully demonstrated. As of the end of June 2026, the cumulative trading volume of the national futures market was 5.105 billion lots, and the cumulative trading volume was 482.70 trillion yuan, a year-on-year increase of 25.23% and 42.08% respectively; industry customer equity reached 2.4 trillion yuan, an increase of approximately 52.94% from the beginning of the year. In the first half of 2026, 150 futures companies across the country achieved operating income of 23.084 billion yuan, a year-on-year increase of 23.63%; net profit was 6.917 billion yuan, a year-on-year increase of 35.73%. (Data source: China Futures Association)

Guangzhou futures operations in the first half of 2026

In the first half of 2026, Guangzhou Futures achieved a total operating income of 86 million yuan (general basis, the same below) and a net profit of 22 million yuan. As of the end of the reporting period, Guangzhou Futures’ total assets were 10.403 billion yuan and net assets were 1.972 billion yuan.

In the first half of 2026, the transformation of Guangzhou's futures business has been steadily advancing, and the development trend of various businesses has been improving. Among them, the brokerage business focused on the expansion of industrial customers and institutional customers, and the number of new customers and transaction size increased steadily. The active management level of the asset management business has improved, product yields are good, and product scale continues to grow. The risk management business accelerates strategic transformation, deeply promotes comprehensive services for the industrial chain, continues to empower industrial customers through professional risk management tools, and achieves a virtuous cycle of serving the real economy and business development.

CITIC Securities

The company and its subsidiaries completed the sale and delivery of 100% of the shares of Guangzhou Securities to CITIC Securities and its wholly-owned subsidiaries on January 10, 2020, and received a transaction consideration of 810 million A shares issued by CITIC Securities on March 11, 2020, accounting for 6.26% of the total share capital of CITIC Securities at that time, becoming the second largest shareholder of CITIC Securities. Since 2021, the company and its subsidiaries have repeatedly increased their holdings of CITIC Securities shares through secondary market purchases and participation in CITIC Securities' A-share rights issue and H-share rights issue subscriptions; combined with the company's development strategy and financial arrangements, and in accordance with changes in the capital market, it has timely reduced its holdings of some CITIC Securities shares. As of the end of the reporting period, the company directly and indirectly held a total of 1.266 billion shares of CITIC Securities, accounting for 8.54% of the total share capital of CITIC Securities. The company's holdings of CITIC Securities stocks are accounted for using the equity method.

In the first half of 2026, the capital market was stable and improving, and market activity remained high. CITIC Securities further promoted its international strategic layout and continuously improved the level of comprehensive financial services. Its operating performance reached a record high for the same period, and the company confirmed investment income of 1.939 billion yuan.

3. Core competitiveness analysis

Deepen the geographical advantages of the Guangdong-Hong Kong-Macao Greater Bay Area

Guangzhou, where the company is headquartered, is one of the core cities in the Guangdong-Hong Kong-Macao Greater Bay Area. The Guangdong-Hong Kong-Macao Greater Bay Area is one of the regions with the highest degree of openness and the strongest economic vitality in my country.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

It has obvious location advantages, strong economic strength, aggregation of innovative factors, leading internationalization level, developed industrial system and high-quality business environment, which provides a solid foundation for the company's high-quality development. The company is deeply involved in the Guangdong-Hong Kong-Macao Greater Bay Area, actively implements national and regional development strategies, continues to increase financial support in green, technology, inclusive and other fields, continuously optimizes and upgrades its product service system, and has accumulated a large number of high-quality customer resources. The company insists on serving the real economy and relies on the Guangdong-Hong Kong-Macao Greater Bay Area's strong industrial foundation and rich technological innovation resources to actively promote the development of emerging industries and the renewal and upgrading of traditional industries, cultivate new productive forces, and continue to accumulate competitive advantages in promoting the high-quality development of Guangzhou and the integrated development of the Guangdong-Hong Kong-Macao Greater Bay Area.

Comprehensive financial strategy to serve entities and green development

The company actively responds to the national "dual carbon" strategy, deeply promotes green transformation, bravely acts as a practitioner in building a new development pattern, and continuously improves its ability to serve the real economy. The financial leasing business implements the concept of "green finance" and guides more financial resources to invest in green and low-carbon fields. The scale of green leasing and project reserves continues to expand; it deploys inclusive leasing businesses such as new energy commercial vehicles, actively explores emerging business areas such as high-end equipment, and continues to optimize asset structure and maturity matching through diversified business layout. The non-performing asset management business insists on focusing on the main business, focusing on the acquisition and disposal of non-performing assets, bailout of problem institutions and asset management. At the same time, relying on the industrial advantages of the controlling shareholder Yuexiu Group in the real estate field, it collaborates with all parties to explore the bankruptcy and reorganization business of real estate projects and actively fulfills its mission of resolving regional financial risks. The investment management business has a clear business development layout, and has built an investment portfolio with diversified allocation, reasonable duration and stable performance. The layout in the new energy and technology fields continues to deepen, and the core competitive advantages continue to strengthen. The futures business seizes the opportunity of the listing of new products on the Guangzhou Futures Exchange, relies on the interconnection mechanism of the Guangdong, Hong Kong and Macao financial markets, vigorously develops risk management business, and provides more professional and rich risk management solutions for entity enterprises.

Financing capabilities with high credit, low cost and excellent structure

The company and its subsidiaries maintain excellent credit ratings. During the reporting period, the company and Guangzhou Yuexiu Capital, Yuexiu Leasing, Guangzhou Assets, Yuexiu New Energy, and Shanghai Yuexiu Leasing all maintained the China Chengxin AAA credit rating, and Yuexiu Industrial Investment maintained the China Chengxin AA+ entity credit rating. The company insists on advancing indirect financing and direct financing hand in hand, has sufficient bank credit lines, exchanges, and inter-bank direct financing instruments, and works closely with various types of financial institutions such as trusts, insurances, funds, and bank wealth management subsidiaries. At the same time, the company closely follows the national policy guidance of supporting the development of green and technological industries, continues to increase financing through green channels, and issues technological innovation bonds in conjunction with technological innovation investments; it opens up domestic and overseas capital channels by building cross-border capital pools, registers and issues sustainable financing instruments, issues REITs, etc. to revitalize existing assets, and provides rich and diversified financing methods. The company continues to promote refined financing management, strictly controls financing costs, continuously optimizes the financing structure, prevents liquidity risks, and provides strong support for business development.

A market-oriented system and mechanism that places equal emphasis on incentives and constraints

The company has thoroughly implemented the tenure system and contractual management of corporate managers at all levels, and has built a talent management system that is strategy-oriented, performance and ability as the core, and based on marketization and specialization. The company has developed a multi-dimensional management mechanism covering competitive recruitment, tenure management, talent inventory, performance evaluation, job rotation development, reserve talent training, supervision and restraint, etc., and has created a high-quality management team with rich experience in the financial industry, passion and creativity. In terms of incentive and restraint mechanisms, the company determines salary levels and incentive and restraint mechanisms in accordance with market-oriented methods, actively promotes the matching of incentive and restraint mechanisms with business objectives, and builds a long-term mechanism for sharing interests and risks between employees and the company, effectively enhancing employees' sense of gain, enhancing corporate cohesion and operational efficiency, and laying a solid foundation for corporate sustainable development. At the same time, the company continues to explore and improve long-term incentive and restraint mechanisms at all levels. At the headquarters level, it has implemented a stock option incentive plan covering the company’s directors, senior executives, and core employees; at the subsidiary company level, it actively explores and implements diversified incentive and restraint plans such as employee stock ownership plans and follow-up investment mechanisms.

Sound and effective risk management system

The company adheres to the risk management concept of “comprehensive risk management and steady creation of value”, regards risk management as one of the core aspects of operating activities and business activities, and is committed to building a comprehensive risk management system based on international and domestic advanced comprehensive financial institutions as a benchmark and matching the company’s business characteristics. The company has established a comprehensive risk management system covering risk systems, organizations, systems, indicators, personnel and culture, and established a "5+1" risk management structure of governance structure, strategy and preferences, risk measurement, risk reporting, performance appraisal + information system. In terms of risk policies, we will continue to optimize and improve them, and guide our business to focus on key areas, key pillar industries, strategic emerging industries and areas consistent with ESG concepts. In terms of system construction, we actively build a risk management system that matches the business to effectively support the efficient development of the business. In terms of risk monitoring, a multi-level risk monitoring and early warning system of “regular monitoring + special monitoring + real-time early warning” has been established, and comprehensive risk management capabilities have been continuously strengthened.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Value-creating professional control and empowerment mechanism

The company adheres to the positioning of "professional operation under professional control", strives to build core management and empowerment capabilities such as strategy, risk, and human resources, and strengthens the three supporting roles of research, customer resources, and technology. In terms of external cooperation and customer collaboration, we actively expand external strategic cooperation, continue to expand strategic partner resources, and empower subsidiaries to expand high-level customers; strengthen customer resource management, integrate internal and external resources to coordinate and carry out collaborative marketing, implement strategic customer service systems, and establish and maintain close customer cooperation relationships. Each business segment focuses on industry leaders and chain master enterprises, and is oriented to deepening industry chain cooperation, giving full play to diversified financial advantages, strengthening product synergy, and providing customers with competitive comprehensive financial services. In terms of corporate culture construction, the company leads all business development and daily operations and management with a unified corporate culture concept, adhering to the management philosophy of "soundness, professionalism, collaboration, innovation, and striver-oriented", and builds a responsibility fulfillment framework covering "corporate culture, responsibility management, and responsibility practice" to strengthen consensus and integration, build a solid foundation for corporate culture leadership, and provide dynamic support for the realization of corporate strategic goals and sustainable development.

Good industry reputation and brand influence

The company has always adhered to specialization and in-depth cultivation. In recent years, reform and development have achieved remarkable results. The overall operation quality ranks among the top in the industry, and its market influence continues to increase. The company coordinates brand communication around "brand value", strengthens the collaborative linkage between brand and business, deepens the brand management and control system, and enhances brand image and value. In terms of reputation in the capital market, the company maintains a good market image and has been selected for many times by the China Association of Listed Companies as "Best Practice Cases for Boards of Directors of Listed Companies", "Best Practice Cases for Internal Control of Listed Companies", "Excellent Practice Cases for Sustainable Development of Listed Companies", "Best Practice Cases for Board Offices of Listed Companies" and "Best Practice Cases for Investor Relations Management". It has won the Securities Times China Listed Company Investor Relations Management Tianma Award, the "Board of Directors" China Listed Company Board of Directors "Golden Roundtable" Corporate Governance Special Contribution Award, etc. The company's core business units have also made new breakthroughs in brand building. Yuexiu Leasing won honors such as "China Financial Leasing Company of the Year" and "Guangdong Province Green Finance Reform and Innovation Promotion Case". Guangzhou Asset won the "Annual Outstanding Management Award" and "Annual Best Case Award" in the local non-performing asset management industry. Yuexiu Industrial Fund won the "China's Top 30 Best Private Equity Investment Institutions" and "China Insurance Asset Management Association Class A Fund Manager" and other honors.

4. Main business analysis

Year-on-year changes in major financial data

Unit: Yuan

Items This reporting period The same period last year (restated) Year-on-year increase or decrease Reasons for changes

Other business income 9,382,268.52 23,229,898.76 -59.61% Mainly due to the decrease in merchandise sales income

Mainly due to insurance premiums related to futures business and other business costs 2,160,714.93 15,091,470.02 -85.68%

Outsourcing and fintech outsourcing costs reduced

Mainly due to the comprehensive impact of the increase in interest expenses of new energy business, financial expenses 214,421,053.27 127,258,995.90 68.49%, and the decrease in interest income from idle funds.

Mainly due to receipt of other income related to daily operating activities 10,669,550.55 16,071,210.32 -33.61%

reduction in government subsidies

Investment income (losses marked with “-” are mainly equity investment projects and associated enterprises

3,910,397,516.36 1,967,712,420.40 98.73%

No. Fill in the column) Wait for investment income to increase

Income (loss) from changes in fair value is mainly the fair value corresponding to the disposal of equity items.

-271,702,642.32 57,805,726.18 -570.03%

Fill in the column with "-") Transferring out profits and losses from changes in value

Mainly because the company obtained the joint venture Beijing Holdings

Non-operating income from equity shares and Guangzhou asset holdings of associates 671,960,443.59 69,849.10 961917.33% The investment cost of Yuexiu Real Estate is less than the identifiable net assets of the investee that it should enjoy at the time of investment

Earnings from fair value

Income tax expense 468,918,931.01 336,508,301.77 39.35% Mainly due to the year-on-year increase in total profit

Mainly due to other comprehensive other comprehensive income after tax from investments in CITIC Securities -284,949,053.48 20,098,410.32 -1517.77%

Changes in earnings

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Items This reporting period The same period last year (restated) Year-on-year increase or decrease Reasons for changes

cash flow from operating activities

2,163,276,067.02 4,303,557,404.05 -49.73% Mainly due to the net increase in net business investment in the current period

Cash flows generated from investing activities are mainly from external investment and new energy business.

-981,007,087.47 -8,217,747,588.39 Not applicable

Net Amount: Comprehensive impact such as reduction in investment amount

Cash flows generated from financing activities mainly include repayment of bank borrowings and payments in the current period

1,587,616,680.85 3,070,834,080.82 -48.30%

Net amount The increase in external financing lease payments resulted in a net increase in cash and cash equivalents, mainly due to an increase in net cash flow from investing activities.

2,767,779,737.43 -855,985,585.24 Not applicable

Um plus

Composition of total operating income

Unit: Yuan Reporting period Same period last year (restated)

Year-on-year increase or decrease

Amount Proportion of total operating revenue Amount Proportion of total operating revenue

Total operating income Note 1 3,593,831,821.48 100.00% 4,097,180,946.96 100.00% -12.29% Industry

New energy business 2,243,092,811.57 62.42% 2,422,926,930.26 59.14% -7.42%Financial leasing business 1,181,485,241.25 32.88% 1,298,477,659.11 31.69% -9.01%Futures business 85,949,540.23 2.39% 65,413,317.14 1.60% 31.39% Investment management business Note 2 71,527,326.02 1.99% 83,995,849.33 2.05% -14.84% Non-performing asset management business 68,276,809.72 1.90% 259,414,984.03 6.33% -73.68% by region

South China 1,938,636,472.43 53.94% 2,172,537,202.46 53.03% -10.77% East China 1,139,132,685.22 31.70% 1,360,620,545.76 33.21% -16.28% Other regions 516,062,663.83 14.36% 564,023,198.74 13.77% -8.50% Note 1: Total operating income includes main business income, interest income, fee and commission income and other business income. The total operating income differs from the sum of the business income of each industry. The main reason is that the total operating income includes business income such as financing guarantees and financial technology services and merger offsets.

Note 2: Yuexiu Industrial Investment merged Guangzhou Yuexiu Rongtai Equity Investment Fund Partnership (Limited Partnership) and its subsidiaries under the same control in December 2025. According to the relevant provisions of the Accounting Standards for Business Enterprises, the subsidiaries and businesses added by the business merger under the same control are deemed to be included in the company's scope of consolidation from the date when they are both controlled by the ultimate controller. Therefore, the relevant financial statement data for the 2025 half year will be retrospectively adjusted.

Industries, products or regions that account for more than 10% of the company’s operating revenue or operating profit

Unit: yuan total operating revenue operating cost

Total operating income Operating costs Note 1 Gross profit margin Year-on-year Same as last year Gross profit margin increased or decreased compared with the same period last year

Increase and decrease in the same period Increase and decrease in the same period

By industry

New energy business 2,243,092,811.57 1,312,166,218.84 41.50% -7.42% 14.69% Decreased 11.28 percentage points Financial leasing business 1,181,485,241.25 716,693,092.02 39.34% -9.01% -12.03% Increased by 2.09 percentage points Investment management business Note 2 71,527,326.02 134,750,908.51 -88.39% -14.84% -4.10% Decreased by 21.11 percentage points by region

South China 1,938,636,472.43 1,931,294,402.78 0.38% -10.77% -7.86% Decreased 3.14 percentage points Full text of the 2026 Semi-annual Report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Total operating revenue Operating costs

Total operating income Operating cost Note 1 Gross profit margin Year-on-year Year-on-year increase or decrease Year-on-year increase or decrease Gross profit margin year-on-year Increase or decrease over the same period last year Year-on-year increase or decrease Year-on-year increase or decrease

East China 1,139,132,685.22 678,441,870.21 40.44% -16.28% 8.68% Decreased 13.68 percentage points

Other regions 516,062,663.83 349,124,439.05 32.35% -8.50% 23.69% decreased by 17.61 percentage points

Note 1: Operating costs include main business costs, handling fees and commission expenses, interest expenses and other business costs.

Note 2: The gross profit margin of the investment management business is negative, mainly because this indicator is only calculated based on total operating income and operating costs, and does not cover investment income and gains and losses from changes in fair value; the main profit of this business comes from the latter two, and the overall profit is achieved.

Explanation of reasons why relevant data changed by more than 30% year-on-year

□Applicable Not applicable

5. Analysis of non-main business

For details of the company's non-recurring profits and losses during the reporting period, please refer to "VII. Non-recurring profit and loss items and amounts" in "Section 2 Company Profile and Main Financial Indicators" of this report.

6. Analysis of assets and liabilities

Major changes in asset composition

Unit: Yuan End of the reporting period End of the previous year (restated)

Proportion

Share of total capital Share of total capital Explanation of major changes

Amount Amount Increase or decrease

production ratio production ratio

Mainly due to investment project settlement funds and settlement reserves 29,159,999.57 0.01% 8,667,938.05 0.00% 0.01%

gold increased

Mainly accounts receivable from new energy business 1,043,328,904.77 0.46% 669,875,739.20 0.31% 0.15%

Electricity bill increases

Debt investment 1,378,425,628.35 0.60% 1,001,953,732.96 0.47% 0.13% Mainly due to new investment in this period

Construction in progress 18,701,301.29 0.01% 10,997,880.49 0.01% 0.00% Mainly new software projects

Mainly due to the accrual of right-of-use assets 68,361,074.35 0.03% 108,261,232.52 0.05% -0.02%

Depreciation causes

Mainly due to the increase in short-term bank borrowings 13,558,282,028.57 5.94% 8,170,829,351.97 3.83% 2.11%

add

Mainly trading financial liabilities of consolidated partnerships 3,128,941,967.67 1.37% 1,834,136,394.09 0.86% 0.51%

Increase in the rights and interests of third parties

Mainly accounts payable for asset purchases 851,335,076.80 0.37% 480,655,900.58 0.23% 0.14%

increase

Mainly current accounts and other payables 2,777,310,690.36 1.22% 1,525,508,436.50 0.72% 0.50%

Profit increase

Mainly used to pay office space rent and lease liabilities 23,592,203.55 0.01% 41,957,115.10 0.02% -0.01%

gold

Mainly long-term payables for finance leases 4,841,634,351.81 2.12% 3,630,513,956.19 1.70% 0.42%

increase

Mainly due to the increase in deferred income tax liabilities due to the valuation of equity projects and the enjoyment of equity interests in joint ventures 433,236,261.98 0.19% 264,502,373.03 0.12% 0.07%

Increase in recognized deferred income tax liabilities

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

End of this reporting period End of previous year (restated)

Proportion

Proportion of total capital Proportion of total capital Explanation of significant changes Amount Increase or decrease

production ratio production ratio

Mainly due to other comprehensive income of associates -381,991,692.74 -0.17% -98,836,032.94 -0.05% -0.12%

Impact of changes in combined income

Major overseas assets

Yuexiu Financial International is an indirect wholly-owned subsidiary of the company. It was registered and established in Hong Kong, China in March 2021, with a registered capital of HK$20 million. As of the end of the reporting period, Yuexiu Financial International held 105 million H shares of CITIC Securities, which were accounted for using the equity method at the consolidated statement level, and investment income of 161 million yuan was recognized during the reporting period. During the reporting period, CITIC Securities received 2025 semi-annual dividend of RMB 34 million.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Assets and liabilities measured at fair value

Unit: Yuan Accumulated equity included in the current period

Item Opening amount Gains and losses from changes in fair value in the current period Purchase amount in the current period Sales amount in the current period Other changes Closing amount

Changes in fair value Impairment

financial assets

Trading financial assets (not

45,949,088,935.15 -222,080,837.27 8,180,235,513.58 5,996,256,257.54 47,910,987,353.92 (including derivative financial assets)

Derivative financial assets 8,452,045.76 39,513,808.82 47,965,854.58 3. Other equity instrument investments 18,001,119.03 31,288.08 18,032,407.11 4. Other current assets 1,212,367,722.98 -133,898,671.90 4,278,744,218.94 4,204,966,356.37 1,152,246,913.65 Financial assets subtotal 47,187,909,822.92 -316,465,700.35 31,288.08 12,458,979,732.52 10,201,222,613.91 49,129,232,529.26 Financial liabilities 1,834,136,394.09 -44,763,058.03 1,378,304,005.04 38,735,373.43 3,128,941,967.67 Note: ① There were no significant changes in the measurement attributes of the company’s main assets during the reporting period.

② Among the company's other current assets at the end of the period, the spot-side related assets of the basis business of RMB 1,152,246,913.65 are financial instruments and are calculated at fair value.

Restrictions on asset rights as of the end of the reporting period

For details of assets with restricted ownership or use rights, please refer to the relevant content in "Section 8 Financial Report V. Notes 23 of Consolidated Financial Statement Items. Assets with Restricted Ownership or Use Rights".

7. Investment status analysis

Overall situation

Investment amount during the reporting period (10,000 yuan) Investment amount in the same period last year (10,000 yuan) Change range

249,323 169,829 46.81%

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Major equity investments obtained during the reporting period

Unit: 10,000 yuan

As of the end of the period when the assets are negative, the invested investment is expected to be invested in the current period.

Main business Investment method Partner Name of the company on the debt balance sheet date Amount Shareholding ratio Source Term Type Income Profit and loss Litigation developments

Participate in the batch transfer of non-performing assets of financial companies in the province

Business (based on the financial work office of the Guangdong Provincial People’s Government

room document management). Asset management, asset investment and

Completed industrial and commercial Guangzhou Assets Asset management-related reorganization, merger, investment management Capital increase 150,000 Note 1 73.44% Self-owned Long-term investment No change in registration consulting services, corporate management, financial consulting and services

service. (Only for Guangzhou Asset Management Co., Ltd.

camp)

Investment of enterprise's own funds; project investment (excluding

Guangzhou Yuexiu Enterprise

Yuexiu Industry Projects that can be operated and projects that are prohibited by laws and regulations Industrial and Commercial Change Registration

Capital increase 60,000 Note 2 60.00% Owned Industrial Group shares Long-term investment No investment No business allowed); Investment consulting services; Venture Capital Investment Co., Ltd.

capital; venture capital; equity investment

Develop, operate and manage properties, and hold investments. The relevant stocks are Yuexiu Real Estate. Purchase of stocks 11,290 Note 3 3.19% Owned. Long-term investment. No. Property registered.

The relevant stocks have been purchased by Beijing Enterprises Investment and Investment Management; Technical Services 26,947 Note 4 5.17% Owned Long-term Investment No

Guangzhou Yuexiu

Intelligent manufacturing and entrepreneurship

Investment Fund Guangzhou Paper Group

Investment of the enterprise's own funds; equity investment Newly established 1,086 Note 5 20.08% Self-owned long-term investment Partially paid-in No Partnership Enterprise Group Co., Ltd.

(Limited

Guy)

Business management consulting; engaging in investment activities with own funds

Power generation; wind power technology services; energy storage technology services

services; R&D of emerging energy technologies; technical services, technology

Guangzhou Yuexiu

Technology development, technology consulting, technology exchange, technology transfer Yuexiu Group,

Xinneng Technology Newly established Note 6 Owned Long-term investment Not actually paid No

Licensing, technology promotion; electric vehicle charging infrastructure Yuedong New Energy

Ltd.

Operations; Engineering Management Services; Contract Energy Management;

Information technology consulting services; power generation business, power transmission industry

services, power supply (distribution) business

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

As of asset negative

Invested Investment End of period Fund Investment Product Estimated investment in this period Is the main business Investment method Partner Progress on the debt statement date

Company name Amount Shareholding ratio Source Term Type Income Profit and loss Litigation

development situation

Total -- -- 249,323 -- -- -- -- -- -- -- -- -- Note 1: During the reporting period, the company increased capital by RMB 1.5 billion to its holding subsidiary Guangzhou Asset. Other shareholders of Guangzhou Asset did not participate in this capital increase. At the end of the reporting period, the company directly held 73.44% of Guangzhou Assets shares.

Note 2: During the reporting period, the company increased its capital to Yuexiu Industrial Investment by RMB 600 million, and other shareholders of Yuexiu Industrial Investment increased their capital in proportion. At the end of the reporting period, the company directly held 60% of the shares of Yuexiu Industrial Investment.

Note 3: During the reporting period, Guangzhou Asset Investment increased its holdings of Yuexiu Real Estate H shares by RMB 113 million, and the investment income was calculated according to the equity method. At the end of the reporting period, Guangzhou Asset directly held 3.19% of Yuexiu Real Estate shares.

Note 4: During the reporting period, the company invested 269 million yuan to increase its holdings of Beijing Enterprises H shares, and the investment income was calculated according to the equity method. At the end of the reporting period, the company directly held 0.72% of Beijing Enterprises H shares and indirectly held 4.44% of the shares through Guangzhou Assets, holding a total of 5.17% of the shares.

Note 5: During the reporting period, Yuexiu Industrial Investment, Yuexiu Industrial Fund and related party Guangzhou Paper Group Co., Ltd. jointly invested in the establishment of Guangzhou Yuexiu Intelligent Manufacturing Venture Investment Fund Partnership (Limited Partnership). The total subscribed capital of the fund was 1,001 million yuan, of which Yuexiu Industrial Investment and Yuexiu Industrial Fund total subscribed capital of 201 million yuan. During the reporting period, Yuexiu Industrial Investment and Yuexiu Industrial Fund contributed a total of RMB 10.86 million. At the end of the reporting period, the company held a total of 20.08% shares through Yuexiu Industrial Investment and Yuexiu Industrial Fund.

Note 6: During the reporting period, Guangzhou Yuexiu Capital and related parties Yuexiu Group and Yuedong New Energy jointly invested in the establishment of Guangzhou Yuexiu New Energy Technology Co., Ltd. The company has a registered capital of 870.29 million yuan, and Guangzhou Yuexiu Capital subscribed and contributed 261.087 million yuan, with a shareholding ratio of 30%. During the reporting period, the actual investment amount of all parties was 0, and the first phase of paid-in funds occurred in July 2026.

Major non-equity investments ongoing during the reporting period

□Applicable Not applicable

Financial asset investment

(1) Securities investment situation

□Applicable Not applicable

(2) Derivatives investment situation

□Applicable Not applicable

Usage of raised funds

The company did not raise funds from equity financing during the reporting period. For details on the use of funds raised from corporate bonds and inter-bank debt financing instruments, please refer to "Section 7 Bond-related Information".

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

8. Sales of major assets and equity

Sale of major assets

□Applicable Not applicable

Sale of major equity interests

□Applicable Not applicable

9. Analysis of major holding and participating companies

Major subsidiaries and joint-stock companies and enterprises that affect more than 10% of the company's net profit

Unit: 10,000 yuan

Company name at the end of the period Type Main business Total assets Net assets Total operating income Operating profit Net profit Registered capital Financing leasing services (limited to foreign-invested enterprises); general machinery and equipment

Sales; Wholesale of daily utensils and daily groceries; Wholesale of household appliances; Licensing

1,152,794 Yuexiu Leasing Subsidiary 10,274,147 1,851,569 311,666 77,143 57,587 medical devices that can only be operated (that is, apply for a "Medical Device Business Enterprise License") 1,152,794 Yuexiu Leasing Subsidiary 10,274,147 1,851,569 311,666 77,143 57,587 medical devices, including Class III medical devices and Class II medical devices that need to apply for a HKD 10,000 "Medical Device Business Enterprise License"

machinery)

Participate in the batch transfer business of non-performing assets of financial enterprises in the province (with Guangdong Province

Document Management of the Financial Affairs Office of the People's Government). asset management, assets

Guangzhou Asset Subsidiary Investment and asset management-related restructuring, mergers, investment management consulting services, corporate management, financial consulting and services. (Guangzhou Asset Management only

Limited company)

Asset management (excluding licensing and approval projects); investment of enterprise’s own funds;

Investment management services; investment consulting services; entrusted management of equity investment funds

Yuexiu Industrial Fund Subsidiary 10,000 88,659 48,102 10,561 8,454 6,031 (specific business projects are subject to approval issued by the financial management department); Equity

Investment; equity investment management

Investment of enterprise's own funds; project investment (excluding licensed business projects, legal

Yuexiu Industrial Investment Subsidiary Projects prohibited by laws and regulations shall not be operated); investment consulting services; creation 700,000 Note 1 2,290,342 874,873 18,780 39,686 31,471

industry investment; venture capital; equity investment

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

End of term

Company name Type Main business Total assets Net assets Total operating income Operating profit Net profit Registered capital

Commodity futures brokerage; futures investment consulting; financial futures brokerage; asset management

Guangzhou Futures Subsidiary 165,000 1,040,256 197,236 8,595Note 2 2,961 2,237

Management (excluding license approval items)

Guangzhou Yuexiu Intelligent Innovation

Upgrade industrial investment

Consolidated enterprises Investment of enterprise's own funds; Equity investment 13,868 105,402 104,893 40,259 40,259 Fund partnership

(limited partnership)

Securities brokerage (limited to Shandong Province, Henan Province, Tiantai County, Zhejiang Province, Zhejiang Province

Areas outside Cangnan County); securities investment consulting; and securities trading, securities

Financial advisors related to investment activities; securities underwriting and sponsorship; securities self-

CITIC Securities Joint Stock Company 1,482,055 246,992,884 35,701,239 4,969,193 3,073,085 2,388,752 Operation; securities asset management; margin trading; securities investment fund agency; for

Futures companies provide intermediary introduction services; agency sales of financial products; stock options

market making

Note 1: The 39th meeting of the 10th board of directors of the company held on April 24, 2026 reviewed and approved the capital increase of Yuexiu Industrial Investment. The registered capital of Yuexiu Industrial Investment is planned to be changed from 6 million yuan to 7 million yuan. For details, please refer to the company’s announcement on April 25, 2026. The "Announcement on the Capital Increase and Related Transactions on the Investment and Related Transactions of its Holding Subsidiary Yuexiu Industry" was disclosed on the Juchao Information Network (announcement number: 2026-030). As of the end of the reporting period, the capital increase has been completed and the industrial and commercial change registration work is still in progress.

Note 2: Guangzhou Futures’ total operating income is 166,541,500 yuan on a general enterprise basis, but on a financial basis.

Acquisition and disposal of subsidiaries during the reporting period: For details, please refer to "VII. Equity in other entities" in the notes to the financial statements in "Section 8 Financial Report".

10. Structured entities controlled by the company

From aspects such as the degree of participation in the operations of structured entities, the company evaluates the rights enjoyed by the company through participation in the relevant activities of structured entities, the variable returns, and the ability to use the rights enjoyed to affect variable returns. As the sponsor, asset service organization and subordinated asset-backed securities holder, the company participates in the operation of structured entities and exercises control over them, so it is included in the scope of the company's consolidated financial statements. As of June 30, 2026, the company has a total of 38 structured entities included in the consolidation scope of the financial statements. The book value of total assets is 13.501 billion yuan (the value on December 31, 2025 is 13.082 billion yuan), and the book value of total liabilities is 18 million yuan (the value on December 31, 2025 is 564 million yuan).

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

11. Risks faced by the company and countermeasures

The risks that affect the company's business activities mainly include strategic risks, credit risks, market risks, liquidity risks, operational risks, policy risks and reputation risks. The company implements comprehensive risk management and has strong risk resistance capabilities.

strategic risk

Strategic risks are risks caused by deviation from the main business, unclear and unfocused main business, inappropriate strategies, or changes in the external operating environment. The company has established a complete strategic management system, which integrates strategic risk management into the entire process of strategy formulation, strategy execution, and strategy review. In the company's annual risk policy, the classification of the main business and other businesses is determined according to regulatory requirements to ensure a clear focus on the main business; the risk nature of the business is determined according to risk appetite and risk classification to ensure the steady execution of the strategy, service to the real economy and dynamic self-optimization; and on this basis, a product system that meets legal requirements is formed, and risks are strictly controlled from the entry end to support the company's efficient operations and to obtain and maintain comparative competitive advantages. In addition, in terms of industry policies, we will effectively support green dual-carbon industries, national strategic emerging industries, and traditional advantageous industries that are in line with risk preferences and ESG concepts. In terms of regional policies, we will further focus on key cities and high-quality districts and counties such as the Greater Bay Area and the Yangtze River Delta to help relieve the real economy and increase efficiency. At the same time, the company pays real-time attention to changes in national policies and market environment, continues to monitor and analyze policy factors, economic factors, social factors and technical factors that affect the company's development, and identifies and prevents systemic financial risks from the time and structural dimensions; and combines the company's internal resources and capabilities, using Porter's five forces model and SWOT and other tools to dynamically analyze the company's development strengths and weaknesses, opportunities and threats, etc., summarize and sort out the core competitiveness and the directions that need to be strengthened and improved in the next step, make rolling adjustments to the company's strategic planning and business plans at least annually, and conduct ex-post evaluations of the implementation.

credit risk

Credit risk refers to the risk of losses caused by the failure of a borrower or counterparty to perform its obligations. The company formulates clear customer and business risk policies and risk pricing access standards, continuously improves access requirements for customers, businesses and other dimensions, continues to strengthen the concentration limit control requirements for credit-like business industries, regions, customers, businesses, etc., and incorporates important indicators such as non-performing ratio, loan-to-loan ratio, provision coverage ratio, RAROC (risk-adjusted rate of return) and other important indicators into annual performance assessments, and conducts assessments and continuous monitoring through stress tests on a regular or irregular basis. The company has established an internal rating system (including entity rating and debt rating), a unified credit granting system, a collateral management system, an investigation review and review system, and a post-lease, loan, and guarantee management system to manage the entire process of credit risk business. The company implements dynamic risk identification, measurement and assessment for various businesses that bear credit risks, clarifies credit rating access requirements, and strengthens unified credit management, limit management and pricing access management. The company has established a credit asset risk classification system, classified asset risk categories according to customers' ability and willingness to perform, and made full provision for impairment. The company has strengthened the construction of its risk system and implemented strong system control on rating credit, quota and pricing access, and maintained a relatively good level of credit asset quality.

market risk

Market risk refers to the company's risk of business losses due to adverse changes in market prices, including interest rate risk, exchange rate risk, stock price risk, commodity price risk and asset price risk, etc. In order to prevent market risks, the company has taken the following measures: First, establish and improve the risk management system. With reference to the requirements of external supervision on market risk management such as the "Market Risk Management Measures for Commercial Banks", a market risk management system is established and continuously improved based on specific business development conditions and new regulatory requirements; secondly, a strict authorization system is implemented. Formulate an annual risk policy and risk limit management plan, and clarify the investment types and corresponding risk limits authorized by the board of directors based on the company's risk preferences and specific business conditions. The company's management will decompose and allocate business scale, risk limits and risk pricing within the scope of authorization; third, establish a multi-index risk monitoring and evaluation system. Indicators cover concentration, stop-profit and stop-loss, Sharpe ratio, value at risk, delta and other Greek letter values and commodity valuations, etc., and are regularly or irregularly evaluated through stress testing, sensitivity testing and other tools. The risk management department conducts real-time dynamic monitoring and risk warning of corresponding indicators to control risks within an acceptable range; fourth, pre-investment access to market risk businesses is strictly implemented. The company has established entry standards for commodities, equity investments, non-performing asset acquisitions, and other businesses, including category, industry, region, customer, and RAROC, and regularly conducts review and optimization based on market changes; fifth, it strengthens post-investment and exit management. The company has established a management strategy centered on "expected valuation" for equity, non-performing assets and other assets, and formulated differentiated asset exit strategies. Strictly implement limits and stop-profit and stop-loss management for trading assets; sixth, proactively manage interest rate risk. Based on the analysis of future macroeconomic conditions and monetary policies as well as interest rate risk limits, timely and appropriate adjustments to the asset and liability structure are made, and the distribution of maturity dates and repricing dates of interest-earning assets and interest-bearing liabilities is adjusted to mitigate and avoid interest rate risks; seventh, effective exchange rate risk management is carried out. The company adheres to the concept of exchange rate risk neutrality, giving priority to natural hedging through strategies and plans such as operating arrangements and settlement methods, choosing exchange rate risk management tools that match its own business capabilities, and avoiding complex foreign exchange derivatives; eighth, it upgrades the system to support business. The market risk management system is upgraded to carry out valuation, risk measurement and limit management of various assets, and the system realizes ex-ante control of various risk limits through the management and control platform. The company continues to optimize the risk warning system, conducts risk monitoring on the business, and provides timely warnings on the risks of being tendered.

Liquidity risk

Liquidity risk means that although the company has solvency, it is unable or unable to obtain sufficient funds in a timely manner at a reasonable cost to repay due debts and fulfill other payments.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

risk of payment obligations. The company implements a robust liquidity risk preference management strategy and ensures sufficient liquidity reserves and financing capabilities to prevent liquidity risks through scientific asset and liability management and fund management, liquidity risk indicator monitoring and early warning and other measures and means. The company has established a liquidity risk management framework with liquidity gap as the core indicator, and established a liquidity risk indicator system including asset-liability duration gap, capital leverage, financing concentration, maturity mismatch, and cash flow mismatch. It monitors and controls the indicators on a daily basis, and by continuously expanding financing channels, rationally arranging the asset and liability structure, maintaining a strong solvency, improving the profitability and sustainable development capabilities of various businesses, and preventing liquidity risks.

operational risk

Operational risk is the risk of loss caused by inadequate or problematic internal procedures, employees and information systems, as well as external events. The company mainly manages and controls operational risks through authorization management, process design, two-person operation, cross-review, system control, process suspension, etc., and manages and controls legal compliance risks through compliance review, compliance monitoring, compliance supervision and inspection, compliance supervision, compliance training, etc.; it carries out system and process sorting, improves internal controls, optimizes business processes, and strengthens online business management and control; and promotes business products ization, strictly implement product control requirements, and improve the level of business standardization; the company continues to improve the construction of the risk management system and promotes the realization that "business is built on systems, systems are built on processes, and processes and standards are built on systems"; the company continues to improve the construction of risk accountability mechanisms, normalize risk accountability, strengthen risk accountability publicity, strengthen incentive and restraint mechanisms, and promote the formation and cohesion of a healthy risk culture.

policy risk

Policy risks refer to the risks brought to the company's business development due to changes in national macroeconomic policies and regulatory policies. Each business line of the company adjusts its business model and investment strategy in a timely manner by tracking and studying industry policy changes and market dynamics in real time; the risk management department keeps abreast of changes in industry regulatory policies and regulatory penalties, prompts relevant risks to the management and each business line through regular and irregular risk reporting mechanisms, and continuously improves the policy risk management mechanism; the research department regularly monitors and analyzes national macro policies and provides response suggestions to the company's operating management.

Reputation risk

Reputation risk refers to the risk of negative evaluation of the company by stakeholders due to operations, management and other behaviors or external events. Regarding reputational risks, the company attaches great importance to the maintenance and value enhancement of reputation and brand, and has designated full-time departments to lead the implementation of relevant work, which mainly includes the cultivation of reputational risk awareness among management at all levels and employees, brand image building, reputational risk monitoring, emergency incident handling, etc.

12. Formulation and implementation of market value management system and valuation improvement plan

In order to standardize the company's market value management behavior, effectively safeguard the legitimate rights and interests of investors, enhance the company's overall value, and facilitate the stable and healthy development of the capital market, in accordance with the relevant provisions of the "Company Law", "Securities Law" and other relevant regulations, combined with the company's actual situation, and after review and approval by the board of directors, the company formally formulated and disclosed the "Market Value Management System" during the reporting period, systematically building and comprehensively strengthening the long-term mechanism for market value management and value realization. This system clarifies the basic principles of market value management, organizational structure and division of responsibilities, main implementation paths, and monitoring, early warning and response mechanisms. It also clarifies prohibited behaviors and compliance bottom lines in market value management. It aims to maintain the stability of the company's market value through systematic and standardized measures and promote the company's investment value to reasonably reflect the company's quality.

13. Implementation of the “Double Improvement of Quality and Return” action plan

Has the company disclosed an announcement on the action plan of “double improvement of quality and return”?

□Yes No

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Section 4 Corporate Governance, Environment and Society

1. Changes in directors and senior managers of the company

Changes in the company’s directors, supervisors and senior managers since the beginning of the period

Name Position held Type Date Reason

Li Feng Chairman was elected January 12, 2026 Board of Directors election

Wang Shuhui Chairman and Director Resigned on January 9, 2026 due to job changes

Wu Yonggao Secretary of the Board of Directors Dismissed March 4, 2026 Dismissed by the Board of Directors

Deputy General Manager and Financial Director Appointed January 12, 2026 Appointed by the Board of Directors

Lin Ying

Secretary of the Board of Directors Appointment March 4, 2026 Appointment of the Board of Directors

Pu Shangquan Deputy General Manager Appointment January 12, 2026 Appointment by the Board of Directors

2. Profit distribution and conversion of capital reserve funds into share capital during the reporting period

Number of bonus shares for every 10 shares (shares) 0 Dividends for every 10 shares (yuan) (tax included) 1.80 Number of conversions for every 10 shares (shares) 0 Capital base of the distribution plan (shares) 4,998,862,471 Amount of cash dividends (yuan) (tax included) 899,795,244.78 Amount of cash dividends in other ways (such as share repurchase) (yuan) 0 Total cash dividends (including other methods) (yuan) 899,795,244.78 Distributable profits (yuan) 1,583,050,643.52 Total cash dividends (including other methods) as a proportion of total profit distribution 100%

Cash dividend distribution this time

If the company is in the growth stage and has major capital expenditure arrangements, when distributing profits, the proportion of cash dividends in this profit distribution should be at least 20%. Detailed explanation of the profit distribution or capital reserve conversion plan

In accordance with relevant requirements such as the "Company Law", "Listed Company Supervision Guidelines No. 3 - Cash Dividends of Listed Companies", "Shenzhen Stock Exchange Listed Companies Self-Regulatory Guidelines No. 1 - Standardized Operations of Main Board Listed Companies" and the company's Articles of Association, on the basis of paying attention to reasonable returns to investors and taking into account the company's sustainable development, the company's board of directors proposed the 2026 semi-annual profit distribution plan as follows: Based on the total share capital on the equity registration date when the company implements the profit distribution plan, excluding repurchased shares, all shareholders will be paid every 10 A cash dividend of RMB 1.80 (tax included) will be distributed for each share, no bonus shares will be given, and no capital reserve will be converted into share capital. Before the implementation of this plan, if the company's total share capital changes due to the issuance of new shares and other reasons, the distribution amount per share will remain unchanged and the distribution will be implemented.

The company's board of directors has been authorized by the shareholders' meeting regarding interim profit distribution, and the content of this plan does not exceed the scope of authorization by the shareholders' meeting.

The company's board of directors will complete the implementation within two months after the plan is reviewed and approved.

3. Implementation of the company’s equity incentive plan, employee stock ownership plan or other employee incentive measures

Equity incentives

On January 9, 2023, the company held the 53rd meeting of the ninth board of directors and the 25th meeting of the ninth board of supervisors, and reviewed and approved the "Proposal on the Stock Option Incentive Plan (Draft)" and its Summary, the Proposal on Formulating Relevant Management Measures for the Stock Option Incentive Plan, and the Proposal on Proposing to the General Meeting of Shareholders to Authorize the Board of Directors to Handle Matters Related to the Company's Stock Option Incentive Plan, etc. The company's independent directors expressed agreement on this, and the lawyers and independent financial advisors hired by the company also expressed relevant opinions.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

From January 10, 2023 to January 19, 2023, the list of personnel to be awarded this time will be posted internally in the company. As of the end of the disclosure period, the company's Board of Supervisors has received no feedback from companies or individuals who have objections to the list, qualifications and other relevant information of the company's incentive plan; on May 11, 2023, the company disclosed the "Explanation and Review Opinions of the Board of Supervisors on the Disclosure of the List of Incentives of the Company's Stock Option Incentive Plan" on the cninfo.com.

On April 29, 2023, the company disclosed the "Announcement on the Equity Incentive Plan Obtaining Approval from the Guangzhou State-owned Assets Supervision and Administration Commission" on cninfo.com. The Guangzhou Municipal State-owned Assets Supervision and Administration Commission approved in principle the company's stock option incentive plan (draft).

On May 15, 2023, the company held the first extraordinary general meeting of shareholders in 2023, and reviewed and approved the "Proposal on the Stock Option Incentive Plan (Draft)" and its Summary, the Proposal on Formulating Related Management Measures for the Stock Option Incentive Plan, and the Proposal on Requesting the General Meeting of Shareholders to Authorize the Board of Directors to Handle Matters Related to the Company's Stock Option Incentive Plan. The company's implementation of this incentive plan has been approved, and the board of directors is authorized to determine the date of grant of stock options, grant stock options to incentive recipients when conditions are met, and handle all matters necessary for the grant of stock options.

On May 16, 2023, the company disclosed the "Self-examination Report on the Purchase and Sale of the Company's Stocks by Insiders of the Stock Option Incentive Plan and the Incentive Targets" on the cninfo.com. During the self-inspection of this incentive plan, no inspection subjects were found to use the insider information related to this incentive plan to buy or sell the company's stocks.

On May 24, 2023, the company held the 59th meeting of the 9th board of directors and the 29th meeting of the 9th board of supervisors, and reviewed and approved the "Proposal on Adjusting the List of Personnel and Granted Shares of the Stock Option Incentive Plan" and the "Proposal on Granting Stock Options to Incentive Objects of the Stock Option Incentive Plan", and agreed to use 2023 May 24 is the grant date, and 48,883,400 stock options will be granted to 76 eligible incentive targets, with an exercise price of 6.21 yuan per share. The company's independent directors expressed their agreement, and the board of supervisors issued verification opinions, believing that the conditions for granting stock options have been met, the subject qualifications of the incentive objects granted are legal and valid, and the determined grant date complies with relevant regulations.

On June 7, 2023, the company completed the grant registration work related to the stock option incentive plan. The stock option abbreviation: Yuezi JLC1, and the stock option code: 037356. The next day, the company disclosed the "Announcement on the Completion of Registration for the Grant of Stock Option Incentive Plan" on cninfo.com.

On March 27, 2024, the company held the ninth meeting of the tenth board of directors and the seventh meeting of the tenth board of supervisors, and reviewed and approved the "Proposal on Adjusting the Exercise Price of the Stock Option Incentive Plan" and the "Proposal on the Unfulfilled Exercise Conditions of the First Exercise Period of the Stock Option Incentive Plan and the Cancellation of Part of the Stock Options." Affected by the company's annual equity distribution in 2022, the exercise price of the stock options was adjusted to 6.04 yuan per share; at the same time, in view of the failure to meet the exercise conditions in the first exercise period and some incentive targets no longer qualify for incentives, it is planned to cancel 19,244,004 shares of stock options. Lawyers and independent financial advisors hired by the company have issued relevant opinions. The company has canceled the aforementioned 19,244,004 stock options, and disclosed the "Announcement on the Completion of Cancellation of Part of the Company's Stock Options" on the cninfo.com on April 8, 2024.

On April 2, 2025, the company held the 22nd meeting of the 10th Board of Directors and the 18th meeting of the 10th Board of Supervisors, and reviewed and approved the "Proposal on Adjusting the Exercise Price of the Stock Option Incentive Plan" and the "Proposal on the Failure to Fulfill the Exercise Conditions for the Second Exercise Period of the Stock Option Incentive Plan and the Cancellation of Part of the Stock Options." Affected by the company's annual equity distribution in 2023, the exercise price of the stock options was adjusted to 5.87 yuan per share; at the same time, in view of the failure to meet the exercise conditions for the second exercise period and some incentive targets no longer qualify for incentives, it is planned to cancel 15,276,470 stock options. Lawyers and independent financial advisors hired by the company have issued relevant opinions. The company has canceled the aforementioned 15,276,470 stock options and disclosed the "Announcement on the Completion of Cancellation of Part of the Company's Stock Options" on the cninfo.com on April 17, 2025.

On August 28, 2026, the company held the 44th meeting of the 10th Board of Directors and reviewed and approved the "Proposal on the Failure to Fulfill the Exercise Conditions of the Third Exercise Period of the Stock Option Incentive Plan and the Cancellation of Part of the Stock Options." In view that the exercise conditions for the third exercise period have not been met and some incentive targets are no longer eligible for incentives, it is planned to cancel 14,362,926 stock options. Lawyers hired by the company issued relevant opinions. After all the above-mentioned stock options are cancelled, the company's current stock option incentive plan will automatically terminate.

Implementation of employee stock ownership plan

(1) Overview of core personnel stock ownership plan

The company held the 2025 second extraordinary general meeting of shareholders on March 31, 2025, and reviewed and approved the "Proposal on the "Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2025 Core Employee Stock Ownership Plan (Draft)" and its Summary, the "Proposal on the "Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2025 Core Employee Stock Ownership Plan Management Measures" and other proposals, and agreed to implement the 2025 Core Employee Stock Ownership Plan. During the reporting period, the 2025 core employee stock ownership plan completed the company's stock purchase through the secondary market. For details, please refer to the "Announcement on the completion of stock purchase for the 2025 core employee stock ownership plan" disclosed by the company on cninfo.com on April 9, 2025. As of the disclosure date of this report, the lock-in period of the current shareholding plan has expired, the stocks and cash rights have been vested in the holder's personal account, and the account cancellation of the shareholding plan has been completed. The project has been implemented.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

(2) All effective core personnel stock ownership plans during the reporting period

Total number of shares held as a share of company equity

Name of the core employee stock ownership plan, number of employees, progress, source of funds for implementation of the plan

(share) Proportion of total amount

When the lock-up period for core personnel expires in 2025, the shares will vest in

57 2,033,400 0.04% Personal account of participants in the legal compensation stock ownership plan, which has been closed

The company’s current directors and senior managers’ shareholdings in the core personnel stock ownership plan

Number of shares held at the beginning of the reporting period Number of shares held at the end of the reporting period

Number of shares held at the end of the reporting period Name Position (core personnel in 2025 (no core personnel still in existence)

Proportion of total share capital of the company

Stock ownership plan) Employee stock ownership plan)

Wu Yonggao Vice Chairman and General Manager

Chen Tonghe Employee Representative Director 348,206 0 0 Li Wenwei Deputy General Manager

(3) Other instructions

The company's core personnel stock ownership plan is managed by the company itself and does not involve external asset management agencies. During the reporting period, there were no changes in the members of the Management Committee of the Core Employee Stock Ownership Plan, and the vesting of shares in the Core Employee Stock Ownership Plan in 2025 did not cause relevant entities to disclose changes in equity. Relevant shareholding employees exercise their shareholder rights in accordance with the law and support the company's steady development.

As of the end of the reporting period, the company had no core personnel stock ownership plan that was still in existence.

4. Environmental information disclosure

The company and its holding subsidiaries are all engaged in financial business and are not among the key pollutant discharging units announced by the environmental protection department. The company strictly abides by laws and regulations such as the Environmental Protection Law of the People's Republic of China and the Energy Conservation Law of the People's Republic of China, continues to promote and firmly establish the concept of lean management and green office, and strives to promote low-carbon green operations in aspects such as paperless office, conference management, green procurement, and low-carbon travel.

Strengthen energy consumption management

The company strengthens the publicity and implementation of green and low-carbon concepts, implements lean management concepts in its administrative and logistics work, comprehensively implements management requirements for saving electricity and water and reducing energy consumption, standardizes office space prompt labels, encourages everyone to consciously save water and electricity, dynamically adjusts the air-conditioning temperature of office spaces, limits the use of high-power electrical appliances, and reduces energy waste.

Implement environmentally friendly recycling of waste

The company actively implements waste recycling and treatment, carries out classification work for office area garbage, collects non-hazardous waste generated in daily operations, including waste paper, waste office materials, etc. and cleans it up in a timely manner. Hazardous waste such as ink cartridges, toner cartridges, batteries, etc., is collected in a dedicated storage area and handed over to professional institutions for recycling and processing.

Deepen carbon emission reduction management

The company's carbon emissions mainly come from electricity, gasoline and other related energy consumption during daily operations. The company advocates a low-carbon and environmentally friendly working lifestyle, fully promotes the use of electronic conference equipment, and saves paper usage and printing expenses. At the same time, the company has incorporated environmentally friendly product and service qualifications into its supplier selection mechanism, and through supervision and management of supplier behavior, the company encourages suppliers to use green and environmentally friendly products and services. In terms of green travel, priority is given to domestically produced self-branded vehicles and new energy vehicles, strict control of emission and equipment standards for newly purchased vehicles, formulation of relevant systems to strengthen the management of official vehicles, and clear application and approval procedures, cost accounting and other regulations.

5. Social Responsibility

Serve the overall national strategic situation and improve the efficiency of high-quality development

The company has always been based on its financial roots, focusing on core tracks and key areas such as green, technology, and inclusive finance, and fully serving the country's "double carbon", "self-reliance through science and technology" and "inclusive finance".

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

"Integration" strategy to enhance the breadth and depth of serving the real economy. During the reporting period, the company's new investment in green, technology, and inclusive fields accounted for 77%, and its asset structure continued to tilt toward national strategies and key areas of the real economy.

Focus on green finance and empower low-carbon transformation

The company actively responds to the national "double carbon" strategic deployment, increases financial support for the new energy field, and promotes the high-quality development of green industries. During the reporting period, the company's new green business investment scale was 15.433 billion yuan, a year-on-year increase of 26.40%, accounting for 58% of the new investment ratio; the managed household distributed photovoltaic installed capacity reached 17GW, and a total of 600,000 power stations were installed; the green financing balance at the end of the period was 49.290 billion yuan, an increase of 31% from the end of 2025.

Yuexiu Leasing adheres to refined management of existing stocks and diversified allocation of increments to promote the optimization and upgrading of its new energy business portfolio. Relying on its industry-finance integration capabilities, Yuexiu Leasing focuses on providing comprehensive financial support in new energy-related fields. During the reporting period, the proportion of new investment in green fields exceeded 70%. Guangzhou Asset gave full play to its professional advantages in non-performing asset management and deeply explored the green asset investment track with stable cash flow. During the reporting period, it implemented bankruptcy reorganization of a power company, activated the income-generating capacity of hydropower station operations, and promoted the green and efficient transformation of the small hydropower industry. Yuexiu Industrial Investment incorporates environmental benefits into its investment decision-making system, continues to explore investment opportunities in the new energy field, and gradually forms a rich green investment layout. While supporting the optimization of energy structure, it achieves steady growth of its asset portfolio. Guangzhou Futures focuses on the needs of green industry customers and provides diversified risk management solutions for industrial customers around green products such as industrial silicon and lithium carbonate, and continues to assist the risk management and stable operation of the green industry chain.

Promote technology and finance to cultivate new productive forces

The company closely focuses on the needs of technological innovation and industrial upgrading, gives full play to the enabling role of financial capital, actively supports the development of strategic emerging industries, and helps cultivate new-quality productive forces. As of the end of the reporting period, the company’s cumulative investment in science and technology finance exceeded 20 billion yuan.

Yuexiu Leasing actively deploys technology leasing business, focusing on expanding technology financial service scenarios in the fields of ships and scientific and technological innovation equipment. During the reporting period, the ship business investment increased by more than 7 times year-on-year, and successfully landed its first US dollar financial leasing project, achieving a new breakthrough in the cross-border ship leasing business; in the field of scientific and technological innovation equipment, it focuses on the development of semiconductors, computing power, unmanned driving, robots and other directions to provide equipment financing support for technology-based enterprises. Yuexiu Industrial Investment focuses on self-reliance and self-reliance through science and technology, cultivates new productive forces with long-term capital and patient capital, closely focuses on national strategic core directions such as national defense security, industrial security, and biosecurity, and focuses on strategic emerging industries such as new energy, artificial intelligence, semiconductors, and biomedicine, injecting financial vitality into the transformation of scientific and technological achievements. As of the end of the reporting period, it has invested in approximately 200 scientific and technological innovation enterprises.

Practice inclusive finance and expand service coverage

The company continues to deepen the practice of inclusive finance and provides diversified financial support to small, medium and micro enterprises, agricultural entities and innovative and entrepreneurial enterprises through various methods such as financial leasing, non-performing asset management, industrial investment and futures risk management. As of the end of the reporting period, the balance of inclusive financial investment was 58.426 billion yuan, and a total of 640,000 small, medium and micro customers were served.

During the reporting period, Yuexiu Leasing increased its investment in inclusive leasing business, promoted the improvement of quality and efficiency of inclusive financial services, actively expanded commercial vehicle retail leasing business, and used the integration of "business, risk control, and technology" as a pilot project to improve the efficiency of commercial vehicle financial services, optimize service models based on regional market characteristics, and enhance financial support capabilities for decentralized and small-scale customer groups. Guangzhou Asset continues to promote the construction of the personal loan non-performing asset acquisition and disposal business system, participates in the resolution of personal credit risks in a market-oriented and professional manner, continuously optimizes the personal loan business system and process, promotes asset disposal cashback with "transfer + reconciliation" as the leading path, explores innovations in inclusive asset package disposal models, and improves the efficiency of personal loan asset disposal. Yuexiu Industrial Investment implements the investment orientation of "investing early, investing in small, investing in hard technology", focusing on supporting the development of technology-based small and medium-sized enterprises and early-stage innovative enterprises, expanding the boundaries of inclusive financial services, promoting the extension of capital to the source of innovation and early links in the industrial chain, and assisting the growth of specialized new enterprises and potential unicorn enterprises. Guangzhou Futures continues to deepen its service to the risk management needs of small, medium and micro enterprises, comprehensively uses futures, forwards, OTC options and other tools to help enterprises cope with price fluctuation risks, and jointly explores the application of the futures market in risk management of real enterprises. In the first half of the year, the total spot trade volume served by small, medium and micro enterprises ranked among the top ten in the industry.

Focus on regional construction and promote industry and finance circulation

The company actively serves regional economic development, comprehensively empowers industrial transformation and upgrading, based on the virtuous cycle of "technology-industry-finance", focuses on Guangzhou's "12218" modern industrial system to promote investment layout, and initiated the establishment of Guangzhou Yuexiu Intelligent Manufacturing Venture Capital with Guangzhou Paper Group Co., Ltd. Capital Fund Partnership (Limited Partnership) to invest in emerging industries; selected as Guangzhou Artificial Intelligence Sub-Fund Manager to reserve multiple projects to help the development of new productivity in Guangzhou; promote Yuexiu Leasing to launch ship leasing business in Nansha, covering bulk carriers, LPG It supports the development of advanced manufacturing and high-end equipment industries, and links scientific and innovative ecological resources such as universities and scientific research institutions in the Greater Bay Area to help the incubation of cutting-edge scientific and technological achievements and promote the mutual promotion of Guangzhou's industry and science and technology; actively support the development of entities and small and micro economies, and continue to improve It provides financial services such as financial leasing, futures risk management, and financing guarantees to support the development and growth of local entities; it provides in-depth services to resolve regional financial risks, acquires non-performing assets in the province, and successfully implements multiple major bankruptcy and reorganization projects to help resolve risks and rescue troubled enterprises in the Bay Area.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Assist rural revitalization and strengthen the responsibility of state-owned enterprises

The company conscientiously implements the central government's deployment requirements for rural revitalization, keeps in mind the mission and social responsibilities of state-owned enterprises, increases support for rural revitalization based on its main business, and takes multiple measures to support the development of public welfare and charity.

In the first half of 2026, the company will organically combine the "dual carbon" strategy with rural revitalization, relying on household distributed photovoltaic business to help farmers increase income and profits and increase local tax revenue. Guangzhou Futures actively carries out professional knowledge training to deliver the latest economic information and futures expertise to local agricultural enterprises and cooperatives, effectively promoting high-quality development of the local economy. The company continues to deepen the precise assistance mechanism of "purchase in lieu of donation" and organizes its subsidiaries to purchase high-quality agricultural products such as Yuxian millet and Yanchang County apples. During the reporting period, a total of 474,500 yuan of consumption assistance funds were implemented, effectively broadening the sales channels of agricultural products in the assisted areas and effectively helping farmers to steadily increase their income.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Section 5 Important Matters

Commitments made by the company’s actual controller, shareholders, related parties, acquirers, the company and other relevant parties that have been fulfilled during the reporting period and have been overdue as of the end of the reporting period.

□Applicable Not applicable

Non-operating capital occupation of listed companies by controlling shareholders and other related parties □Applicable Not applicable

3. Illegal external guarantees

□Applicable Not applicable

4. Appointment and dismissal of accounting firms

□Applicable Not applicable

The board of directors’ explanation of the accounting firm’s “non-standard audit report” for this reporting period □ Applicable  Not applicable

6. Explanation of the Board of Directors on the “Non-standard Audit Report” of the previous year

□Applicable Not applicable

7. Matters related to bankruptcy and reorganization

□Applicable Not applicable

8. Litigation matters

During the reporting period, the company had no new major litigation or arbitration matters. All major lawsuits and arbitrations disclosed in the past have been concluded, and there was no significant progress during the reporting period.

During the reporting period, in addition to litigation or arbitration involving the acquisition of assets and the disposal of non-performing assets in Guangzhou, the company and its holding subsidiaries had 51 new litigation and arbitration cases, with a total subject amount of 453.402 million yuan. The company has made corresponding provision for asset impairment in accordance with accounting policies, and it is expected to have no significant adverse impact on the company's operations and financial conditions.

9. Punishment and Rectification

There were no major penalties or rectifications during the company's reporting period.

10. Integrity status of the company, its controlling shareholders and actual controllers

The company, its controlling shareholders, and actual controllers have not failed to fulfill the effective court judgments, or have not paid off large amounts of debts when due, and their integrity status is good.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

11. Major related transactions

Related transactions related to daily operations

Available related-party transactions Related-party transactions Related-party transactions Related-party transaction funds Approved transactions Whether it exceeds Related-party transaction disclosure

Related relationship Related transaction content Similar transactions Disclosure date Transaction party Type Pricing principle Price Amount (10,000 yuan) Quota (10,000 yuan) Approved quota Settlement method Index market price Accept deposit and loan services from related banks

Accept related services and property management from related parties

Management, business premises leasing, and guarantee provided by the party. Market principles Market price 5,300

Services Insurance, information technology, consulting and other services

service

Yuexiu Group provides energy management,

and its control Financial leasing, factoring, fund management

to related parties

Except for the company, the company holds shares, provides services, management, asset management, financial advisory, market principles, market price 945 December 2025, Juchao Capital and the company’s controlling shareholders and their questions, information technology, futures management 41,037 No Agreement Not Applicable

March 2 Xunwang Subsidiary Subsidiary Company Discipline, consulting, guarantee and other services

Other than selling non-performing assets to related parties

Other enterprises provide packages, information systems, etc. to related parties, and futures

market principles market price

Selling goods The company conducts basis trade with related parties

Easy to wait

Purchase of non-performing assets from related parties

to related parties

Bao, futures subsidiaries and related parties Market principles Market prices

buy goods

Carry out basis trade, etc.

More than 5% of the company

Guangzhou Hengyun

Shareholders and related parties provide financial leases, 2025-12 Juchao Capital and consistent market principles to related parties. Market price 97 33,061 No Agreement Not Applicable

The same bank provides services such as futures brokerage and other services. On March 2, Xunwang Action Personnel

touching

Company director accepts association

Accept related party underwriting, consultation, etc.

The principle of market price provided by the official and senior party is 600

Services December 2025 Juchao Capital CITIC Securities Management Personnel Services 4,377 No Agreement Not applicable As of December 2, Xunwang serves as a director to provide futures brokerage,

market principles market price

Enterprises provide services such as over-the-counter trading

Yuexiu Real Estate Company Director

Accept association

Industry Investment Credit Acceptance of business premises lease from related parties in the past twelve years December 2025 Juchao Capital

Market principles provided by the party Market price 3,901 11,346 No Agreement stipulates that trust funds and monthly obligations are not applicable leasing, property management and other services 2 months ago

service

Subsidiary Company Director's Company

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

available

Related Related Transactions Related Transactions Related Transactions Related Transaction Fees Approved Transactions Exceed Related Transactions Disclosure of Related Relationships Contents of Related Transactions Similar Transactions Disclosure Date Party Type Pricing Principle Price Amount (RMB 10,000) Quota (RMB 10,000) Approved Quota Settlement Method Index

market price

Industry, and it is

Company holding

owner of shareholders

Want to take a shareholding

company, root

According to the essence

In the original form

then it is determined

Total -- -- 10,843 89,820 -- -- -- -- --Details of large sales returns Not applicable

In accordance with relevant regulations such as the "Shenzhen Stock Exchange Stock Listing Rules" and based on actual operating conditions, the company has made estimates for daily related transactions in 2026, involving the provision or acceptance of labor services and the purchase of daily related transactions that will occur in the current period by category.

or sell goods, etc., the total transaction amount is expected to be 898.2 million yuan. For details, please refer to the "Announcement on the Estimation of Daily Related Transactions in 2026" disclosed by the company on cninfo.com on December 2, 2025. It is easy to estimate the total amount, during the reporting period

(Announcement No.: 2025-066), this proposal has been reviewed and approved at the sixth extraordinary shareholders’ meeting in 2025. During the reporting period, the occurrence of the projects listed in this table were within the expected range and did not exceed the company's actual performance

Estimated total amount of transactions with related parties

The transaction price is significantly different from the market reference price

Not applicable

reason

Related transactions arising from asset or equity acquisition and sale

□Applicable ☑Not applicable

Related transactions related to joint external investment

Invested enterprise Invested enterprise Invested enterprise Related parties of the invested enterprise Related relationship Name of the invested enterprise Main business of the invested enterprise

Registered capital Total assets (10,000 yuan) Net assets (10,000 yuan) Net profit (10,000 yuan)

Yuexiu Group, Guangzhou

Controlling shareholder of the company; holds more than 5% of the company

Metro, Lin Zhaoyuan, Yuexiu Real Estate Real estate development and investment 25,545.01 million yuan 36,539,205 10,653,547 88,400 Shareholders of the above shares; natural persons related to the company

Li Feng, Liu Yan

Guangzhou Hengyun Shareholder holding more than 5% of the company's shares Guangzhou Assets Non-performing asset management business 7,360,598,880 yuan 4,947,853 1,452,214 46,779 Guangzhou Paper Group controlled by the same controlling shareholder and ultimate controlling party Guangzhou Yuexiu Intelligent Manufacturing

Investment management business 1,001 million yuan 5,334 5,334 -72 Other limited companies Industrial investment fund partnerships

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Invested enterprise Invested enterprise Invested enterprise Related parties of the invested enterprise Related relationship Name of the invested enterprise Main business of the invested enterprise

Registered capital Total assets (10,000 yuan) Net assets (10,000 yuan) Net profit (10,000 yuan) Enterprise (limited partnership)

Guy)

Controlled by the same controlling shareholder and ultimate controlling party

Guangzhou Yueqi Yuexiu Industrial Investment Investment Management Business 7,000,000,000 Yuan 2,290,342 874,873 31,471 Other enterprises under the system

Yuexiu Group, Yuexiu

The company’s controlling shareholder; subject to the same controlling shareholder Guangzhou Yuexiu New Energy Technology

Transportation, Yuedong New Energy New Energy Business 870.29 million yuan

and other enterprises controlled by the ultimate controller Technology Co., Ltd. Note

source

Progress of major projects under construction of the invested enterprise Not applicable

Note: Guangzhou Yuexiu Xinneng Technology Co., Ltd. received the first paid-in capital in July 2026, and there was no total assets, net assets and net profit data at the end of June 2026.

During the reporting period, the specific details of the company’s joint external investments with related parties are as follows:

(1) In July 2025, the 24th meeting of the company's 10th board of directors reviewed and approved the "Proposal on the Increase of Yuexiu Real Estate Shares and Related Transactions by the Controlled Subsidiary Guangzhou Assets", and agreed that Guangzhou Assets would use no more than 204.22 million yuan of its own funds to increase its holdings of Yuexiu Real Estate Hong Kong shares (stock code: 00123.HK) in the secondary market through Southbound Trading. The authorization period is from the date of review and approval by the board of directors to May 30, 2026. Since the company's related parties, Yuexiu Group, Guangzhou Metro, Lin Zhaoyuan, Li Feng, Liu Yan, etc., directly or indirectly hold shares in Yuexiu Real Estate, this transaction constitutes a related transaction of joint investment with relevant related parties. For details, please refer to the "Announcement on the Increase in the Shareholding of Yuexiu Real Estate and Related Transactions by the Holding Subsidiary Guangzhou Assets" disclosed on cninfo.com on July 2, 2025 (Announcement No.: 2025-036). During the reporting period, Guangzhou Asset invested a total of 112.9 million yuan and purchased 29.072 million shares of Yuexiu Real Estate Hong Kong shares. The financial data of Yuexiu Real Estate in the table above are based on its publicly disclosed 2026 semi-annual report data.

(2) In January 2026, the 34th meeting of the company's tenth board of directors reviewed and approved the "Proposal on Capital Increase and Related Transactions in Guangzhou Assets of its Holding Subsidiary", agreeing that the company would unilaterally increase capital in Guangzhou Assets by 1,499,999,999,020 yuan in cash. Since the company's related party Guangzhou Hengyun directly holds the shares of Guangzhou Assets, this transaction constitutes a related transaction of joint investment with related parties. For details, please refer to the "Announcement on the Capital Increase and Related Transactions of the Holding Subsidiary Guangzhou Assets" disclosed on cninfo.com on January 31, 2026 (Announcement Number: 2026-012).

(3) In January 2026, the 34th meeting of the company's tenth board of directors reviewed and approved the "Announcement on Joint Investment and Related Transactions between Controlled Subsidiaries and Related Parties", agreeing that the company's controlled subsidiaries Yuexiu Industrial Investment, Yuexiu Industrial Fund and related party Guangzhou Paper Group Co., Ltd. will jointly invest in the establishment of a fund and sign a partnership agreement. The total subscribed capital of this fund is RMB 1,001 million, of which Yuexiu Industrial Investment and Yuexiu Industrial Fund have subscribed a total of RMB 201 million. This transaction constitutes a related-party transaction involving joint investment with related parties. For details, please refer to the "Announcement on Joint Investment and Related-Party Transactions between Controlled Subsidiaries and Related Parties" disclosed by the company on cninfo.com on January 31, 2026 (announcement number: 2026-013).

(4) In April 2026, the 39th meeting of the company's 10th board of directors reviewed and approved the "Announcement on the Capital Increase and Related Transactions of the Holding Subsidiary Yuexiu Industrial Investment", agreeing that the company will increase its capital to Yuexiu Industrial Investment by 600 million yuan in cash, and Guangzhou Yuexiu Enterprise Group Co., Ltd., another shareholder of Yuexiu Industrial Investment and a related party of the company, will increase its capital by 400 million yuan in equal proportions. This transaction constitutes a related-party transaction involving joint investment with related parties. For details, please refer to the "Announcement on the Capital Increase and Related-party Transactions for the Investment in its Holding Subsidiary Yuexiu Industry" disclosed on cninfo.com on April 25, 2026 (Announcement Number: 2026-030). As of the end of the reporting period, the capital increase has been completed and the industrial and commercial change registration work is still in progress.

(5) In June 2026, the 41st meeting of the company's tenth board of directors reviewed and approved the "Announcement on Joint Investment and Related Transactions between the Wholly-Owned Subsidiary Guangzhou Yuexiu Capital and Related Parties", agreeing that the company's wholly-owned subsidiary Guangzhou Yuexiu Capital and related parties Yuexiu Group and Yuedong New Energy will jointly invest in the establishment of a new energy technology company. The company has a registered capital of 870.29 million yuan, of which Guangzhou Yuexiu Capital contributed 261.087 million yuan. This transaction constitutes a related party transaction involving joint investment with related parties.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

For details, please refer to the "Announcement on Joint Investment and Related Transactions between Wholly-Owned Subsidiary Guangzhou Yuexiu Capital and Related Parties" disclosed by the company on cninfo.com on June 12, 2026 (announcement number: 2026-038).

Related credit and debt transactions

Claims receivable from related parties

Is there any non-financial balance? Opening balance New amount in the current period Amount recovered in the current period Interest in the current period Ending balance Related parties Related relationship Reason for formation Interest rate

Operating funds occupied (RMB 10,000) (RMB 10,000) (RMB 10,000) (RMB 10,000) (RMB 10,000) Liaoning Yuexiu Huishan Holdings Under the same controlling shareholder and ultimate control Non-performing asset management business

No 12,260 657 Market-based interest rate 648 12,917 joint-stock company Other enterprises controlled by the shareholder Related

More than 5% shareholders of Guangzhou Hengyun Holding Group and one of its

Related to financial leasing business No 6,195 103 2,581 Market-based interest rate 97 3,717 Tuan Co., Ltd. Acting person

The balance of related claims with Liaoning Yuexiu Huishan Holdings Co., Ltd. was transferred from the non-related asset management business of non-related transactions. The related income for the current period totaled 6.48 million yuan. As of the end of the reporting period, the balance of related claims was 129.17 million yuan, which did not have a significant impact on the company's operating performance and financial status. The impact of related claims with Guangzhou Hengyun Holding Group Co., Ltd. on the company's operating results and financial status

The balance of claims was formed from the development of financial leasing business. The related income for the current period totaled 970,000 yuan. As of the end of the reporting period, the balance of related claims was 37.17 million yuan, which did not have a significant impact on the company's operating results and financial status.

Debts payable to related parties

Balance at the beginning of the period New amount for the period Amount returned for the period Interest for the period Ending balance Related parties Related relationship Reason for formation Interest rate

(10,000 yuan) (10,000 yuan) (10,000 yuan) (10,000 yuan) (10,000 yuan) Controlled by the company’s controlling shareholder

Chong Hing Bank Limited Loan 113,546 113,547 102,598 Market-based interest rate 1,482 124,495 Other enterprises

Yuexiu Enterprise (Group) is controlled by the company’s controlling shareholder

Fund lending 72,417 72,417 Market-based interest rate 42

Co., Ltd. Other companies

Guangzhou Yuexiu Group Co., Ltd.

Company’s controlling shareholder Fund lending 321,044 321,044 Market-based interest rate 44

Ltd.

The company's borrowing of funds from related parties has complied with the approval and information disclosure procedures in accordance with the law. The borrowing interest is fairly priced and does not harm the interests of the company or non-related shareholders. The impact of borrowing related debts on the company's operating results and financial status

The funds can meet the company's capital turnover and daily operating needs, and will not have a significant adverse impact on the company's operating performance and financial status.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Dealings with related financial companies

□Applicable Not applicable

The transactions between the financial company controlled by the company and related parties

□Applicable Not applicable

Other major related transactions

□Applicable Not applicable

12. Major contracts and their performance

Custody, contracting and leasing matters

(1) Custody situation

□Applicable Not applicable

(2) Contracting situation

□Applicable Not applicable

(3) Leasing situation

During the reporting period, the company's asset leasing mainly consisted of properties and other assets leased by the company and its subsidiaries and branches for operational needs. None of them constituted a major contract, and there were no leasing projects that brought profits or losses to the company that amounted to more than 10% of the company's total profit during the reporting period.

Major guarantee

Except for the daily guarantee business carried out by Yuexiu Guarantee, which is mainly engaged in guarantees, during the reporting period, the company only provided guarantees for its controlled subsidiaries and guaranteed between the company's controlled subsidiaries. The details are as follows:

Unit: 10,000 yuan

The company’s guarantees for subsidiaries

Guaranteed amount End of period

Whether it is a guarantee object. Guarantee. Actual guarantee. Guarantee. Counter guarantee. Guarantee. Whether

Collateral Name of related party Announcement Amount Date of birth Insured amount Type Circumstances Maturity date Performance

Guarantee disclosure date ends in 2022 2023

Yuexiu Industry Joint and Several Liability 2028-3

June 30 50,000 March 20 5,000 Not applicable Not applicable No No investment Guaranteed March 20

day day

2022 2023

Yuexiu Industry Joint and Several Liability June 2026

June 30 50,000 June 26 Not applicable Not applicable Yes No investment Guaranteed June 26

day day

2022 2023

Yuexiu Industry Joint and Several Liability September 2026

June 30 50,000 September 22 50,000 N/A N/A No No investment Guarantee 22

day day

2022 2024

Yuexiu Industry Joint and Several Liability 2029-3

June 30 50,000 March 25 50,000 Not applicable Not applicable No No investment Guaranteed 25th of March

day day

Yuexiu Industry 2023 66,000 2024 66,000 Joint and several liability N/A N/A 20271 No No

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Investment November 22 January 12 Guarantee Month 12th Day

2023 2024

Yuexiu Industry Joint and Several Liability June 2029

November 22 50,000 June 5 50,000 Not applicable Not applicable No No investment Guarantee Day 5th day

2024 2025

Yuexiu Industry Joint and Several Liability 2030 8

December 28 34,000 August 14 34,000 Not applicable Not applicable No No investment Guarantee Day 14th of the month

2024 2025

Yuexiu Industry Joint and Several Liability December 2028

December 28 30,000 December 12 30,000 Not applicable Not applicable No No investment Guarantee Day 12th of the month

2025 2026

Yuexiu Industry Joint and Several Liability 2029 4

December 2 27,000 April 16 27,000 Not applicable Not applicable No No investment Guarantee Day 16th Day

2025 2026

Yuexiu Industry Joint and Several Liability June 2031

December 2 30,000 June 9 30,000 Not applicable Not applicable No No investment Guarantee Day 9th day

2024 2025

Joint liability 2026 3 Guangzhou Capital December 28 3,080 September 3 Not applicable Not applicable Yes No Guaranteed Day 3 Day

2024 2025

Joint and several liability 2026 3 Guangzhou Capital December 28 3,080 September 4 Not applicable Not applicable Yes No Guaranteed Day 4th Day

2024 2025

Joint and several liability 2026-3 Guangzhou Capital December 28 3,640 September 10 Not applicable Not applicable Yes No Guaranteed Day 10th Day

2024 2025

Joint liability 2026 May Guangzhou Capital December 28 13,700 November 3 N/A N/A Yes No Guaranteed Day 3 Day

2024 2025

Joint and several liability 2026 1 Guangzhou Capital December 28 700 July 8 Not applicable Not applicable Yes No Guarantee Day 8th Day

2024 2025

Joint and several liability 2026 1 Guangzhou Capital December 28 292 July 21 Not applicable Not applicable Yes No Guaranteed Day 21st Day

2024 2025

Joint and several liability 2026 2 Guangzhou Capital December 28 2,250 August 4 Not applicable Not applicable Yes No Guaranteed Day 4th Day

2024 2025

Joint liability 2026 2 Guangzhou Capital December 28 3,375 August 8 Not applicable Not applicable Yes No Guaranteed Day 8th Day

2024 2025

Joint liability 2026 2 Guangzhou Capital December 28 1,350 August 8 Not applicable Not applicable Yes No Guaranteed Day 8th Day

2024 2025

Joint liability 2026 2 Guangzhou Capital December 28 2,250 August 11 Not applicable Not applicable Yes No Guaranteed Day 11th Day

2024 2025

Joint and several liability 2026 2 Guangzhou Capital December 28 625 August 13 Not applicable Not applicable Yes No Guarantee Day 13th Day

2024 2025

Guangzhou Capital 2,400 Joint and several liability N/A N/A 20262 Yes No

December 28 August 14

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Day Day Guaranteed Month 13th 2024 2025

Joint liability September 2026 Guangzhou Capital December 28 5,000 September 29 5,000 Not applicable Not applicable No No Guarantee Day 28th Day

2024 2025

Joint and several liability 2026-4 Guangzhou Capital December 28 6,000 October 20 Not applicable Not applicable Yes No Guaranteed Day 20th Day

2024 2025

Joint and several liability 2026 2 Guangzhou Capital December 28 5,700 August 25 Not applicable Not applicable Yes No Guaranteed Day 25th Day

2024 2025

Joint and several liability 2026 2 Guangzhou Capital December 28 5,600 August 26 Not applicable Not applicable Yes No Guaranteed Day 26th Day

2024 2025

Joint and several liability 2026 May Guangzhou Capital December 28 10,000 November 19 Not applicable Not applicable Yes No Guaranteed Day 19th Day

2025 2026

Joint and several liability 2026-7 Guangzhou Capital December 2 7,826 January 5 7,826 Not applicable Not applicable No No Guarantee Day 5th Day

2025 2026

Joint and several liability 2026-7 Guangzhou Capital December 2 3,600 January 9 3,600 Not applicable Not applicable No No Guarantee Month 9 Day Day

2025 2026

Joint liability September 2026 Guangzhou Capital December 2 4,000 March 9 4,000 Not applicable Not applicable No No Guarantee Day 9th Day

2025 2026

Joint and several liability October 2026 Guangzhou Capital December 2 3,500 April 21 3,500 Not applicable Not applicable No No Guarantee Day 21st Day Day

2025 2026

Joint and several liability November 2026 Guangzhou Capital December 2 1,400 May 21 1,400 Not applicable Not applicable No No Guarantee Day 21st Day

2025 2026

Joint and several liability December 2026 Guangzhou Capital December 2 900 June 3 900 Not applicable Not applicable No No Guarantee Day 3 Day Day

2025 2026

Joint and several liability 2026-7 Guangzhou Capital December 2 13,300 January 12 13,300 Not applicable Not applicable No No Guarantee Day 12th Day

2025 2026

Joint and several liability 2026-8 Guangzhou Capital December 2 1,700 February 24 1,700 Not applicable Not applicable No No Guarantee Day 24th Day

2025 2026

Joint and several liability 2026-8 Guangzhou Capital December 2 3,400 February 2 3,400 Not applicable Not applicable No No Guarantee Day 2 Day

2025 2026

Joint and several liability September 2026 Guangzhou Capital December 2 3,000 March 2 3,000 Not applicable Not applicable No No Guarantee Month 2 Day Day

2025 2026

Joint and several liability September 2026 Guangzhou Capital December 2 5,000 March 3 5,000 Not applicable Not applicable No No Guarantee Day 3 Day Day

2026

2025 Joint and several liability 2026 September Guangzhou Capital 4,600 March 6 4,600 Not applicable Not applicable No No December 2 Guarantee 6th day

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

day

2025 2026

Joint and several liability November 2026 Guangzhou Capital December 2 3,488 May 11 3,488 Not applicable Not applicable No No Guarantee Month 11 Day Day

2025 2026

Joint and several liability November 2026 Guangzhou Capital December 2 1,395 May 15 1,395 Not applicable Not applicable No No Guarantee Day 15th Day

2025 2026

Joint and several liability November 2026 Guangzhou Capital December 2 1,116 May 18 1,116 Not applicable Not applicable No No Guarantee Day 18th Day

2025 2026

Joint and several liability December 2026 Guangzhou Capital December 2 8,400 June 12 8,400 Not applicable Not applicable No No Guarantee Day 12th Day

2025 2026

Joint and several liability December 2026 Guangzhou Capital December 2 1,600 June 23 1,600 Not applicable Not applicable No No guarantee Month 23

day day

Approval of responsibilities for subsidiaries during the reporting period

600,000 125,225 Total guarantee limit Total actual guarantee amount

Approved transactions with subsidiaries at the end of the reporting period

855,000 415,225 Total guarantee lines of subsidiaries Total international guarantee balance

Guarantees provided by subsidiaries to subsidiaries

Guaranteed amount

Whether it is a guarantee object. Guarantee. Actual guarantee. Counter guarantee.

Guarantee type Collateral Guarantee period Performance Name of related party Announcement Amount Date of birth Insured amount Situation

Completion Warranty Disclosure Date

2022 2023

Shanghai Yuexiu Joint and Several Liability 4, 2026

December 3 61,241 September 12 N/A N/A Yes No Lease Guaranteed Month 26 Day Day

2023 2024

Shanghai Yuexiu Joint and Several Liability 20261

November 22 40,255 January 25 N/A N/A Yes No Lease Guaranteed Month 26 Day Day

2023 2024

Shanghai Yuexiu Joint and Several Liability 20261

November 22 25,842 April 16 N/A N/A Yes No Lease Guaranteed Month 26 Day Day

2023 2024

Shanghai Yuexiu Joint and Several Liability 4, 2027

November 22 46,960 August 16 2,318 N/A N/A No No Lease Guarantee Month 26 Day Day

2023 2024

Shanghai Yuexiu Joint and Several Liability 4, 2027

November 22 20,457 October 29 3,333 Not applicable Not applicable No No Lease Guarantee Day 26th Day

2023 2024

Shanghai Yuexiu Joint and Several Liability July 2027

November 22 14,432 November 22 3,735 Not applicable Not applicable No No Lease Guaranteed November 26

day day

Approval of responsibilities for subsidiaries during the reporting period

Total company guarantee amount Total actual amount of guarantee incurred

Approved transactions with subsidiaries at the end of the reporting period

1,440,445 9,386 Total guarantee lines of subsidiaries Total international guarantee balance

The total amount of the company’s guarantees approved during the reporting period The actual amount of guarantees issued during the reporting period

600,000 125,225 total degrees total student quota

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Approved guarantees at the end of the reporting period Actual guarantee balance at the end of the reporting period

2,295,445 424,611Total insurance amount Total amount

The actual total amount of guarantees accounts for 12.10% of the company’s net assets attributable to the parent company, of which:

Providing guarantees for shareholders, actual controllers and their related parties

N/A balance

Directly or indirectly, for those whose asset-liability ratio exceeds 70%

82,611 Debt guarantee balance provided by insured parties

The amount of the total guarantee exceeding 50% of the net assets Not applicable The total amount of the above three guarantees 82,611 pairs of unexpired guarantee contracts, guarantee liabilities occurred during the reporting period

Or there is evidence that it is possible to bear joint liability for repayment. Explanation of non-applicable circumstances

Explanation on providing external guarantees in violation of prescribed procedures Not applicable Note: The guarantees in the above table are all credit guarantees; the guaranteed objects are all controlled subsidiaries of the company, the guaranteed objects have not provided counter-guarantees, and other shareholders of the guaranteed objects have not provided guarantees in equal proportions. The overall guarantee risk is controllable.

Entrusted financial management

Overview of entrusted financial management during the reporting period

Unit: 10,000 yuan

Product Type Risk Characteristics Balance of entrusted financial management during the reporting period Overdue amount of large-denomination certificates of deposit Low risk 95,000 - Bank financial management products Low risk 92,932 - Note: During the reporting period, the total maximum daily amount of various types of entrusted financial management of the company was 2.76 billion yuan, which did not exceed the authorized limit of entrusted financial management approved by the 37th meeting of the tenth board of directors of the company.

The company, as a single client, entrusts a financial institution to carry out asset management, or invests in high-risk entrusted financial management with low security and poor liquidity.

□Applicable Not applicable

Other major contracts

During the reporting period, the company did not have any major contract projects that failed to fulfill review procedures or disclosure obligations.

13. Registration form for reception of research, communication, interviews and other activities during the reporting period

Reception time Reception method Reception objects Discussion content For details of the survey record index, please refer to the company’s participation in the 2025 annual website in 2026 4

The content of the company's "2025 Annual Report" was published on April 10, 2026 at the performance briefing meeting on the online platform of cninfo.com on April 10, 2026.

and operation and management status in 2025. Disclosed investor relations and investors

action record sheet

14. Description of other major matters

There are no other significant matters that need to be explained during the reporting period of the company and its subsidiaries.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Section 6 Share changes and shareholder status

1. Changes in shares

Changes in shares

Unit: Before this change in share capital After this change

This change increases or decreases

Quantity Proportion Quantity Proportion

Shares subject to sales restrictions 3,787,824 0.08% 797,055 4,584,879 0.09%
State shareholding - - - - -
Shareholding by state-owned legal persons - - - - -
Other domestic shareholdings 3,787,824 0.08% 797,055 4,584,879 0.09% of which: shares held by domestic legal persons - - - - -

Shareholdings held by domestic natural persons 3,787,824 0.08% 797,055 4,584,879 0.09%

Foreign shareholding - - - - -Including: Overseas legal person shareholding - - - - -

Shareholding by foreign natural persons - - - - -

Shares without selling restrictions 5,013,344,638 99.92% -797,055 5,012,547,583 99.91%
RMB ordinary shares 5,013,344,638 99.92% -797,055 5,012,547,583 99.91%
Domestic-listed foreign stocks - - - - -
Foreign-invested stocks listed overseas - - - - -
Others - - - - -
Total number of shares 5,017,132,462 100.00% - 5,017,132,462 100.00%
Changes in restricted shares

Sales restrictions at the beginning of the period are lifted in the current period. Increase in the current period. Sales restrictions at the end of the period. Name of the shareholder who has released the restrictions on sales. Reasons for the restrictions on sales.

Number of shares Number of restricted shares Number of restricted shares Number of shares Date Core persons in 2025 during the reporting period

Vesting of shares related to employee stock ownership plan

Directors and senior management of the company shall pay part of the personal account of the holder

3,787,824 5,838 802,893 4,584,879 Not applicable personnel (including those who have resigned) Increase in personnel locked shares, and some

Shares will be locked in stages after personnel leave office

determined

Total 3,787,824 5,838 802,893 4,584,879 -- --

2. Securities issuance and listing

□Applicable Not applicable

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

3. Number of shareholders and shareholding status of the company

Unit: Share

Total number of common shareholders at the end of the reporting period 94,490 Total number of preferred shareholders with restored voting rights at the end of the reporting period Not applicable to shareholders holding more than 5% of the shares or the shareholdings of the top 10 shareholders (excluding shares lent through refinancing)

Limited holdings Pledged and standard holdings Increased during the reporting period at the end of the reporting period Holding unlimited shares

Name of shareholder, nature of shareholder, record or freeze ratio of sale conditions, number of shares held, minus changes, number of shares

Number of shares Status

Yuexiu Group State-owned legal person 43.82% 2,198,601,036 - - 2,198,601,036 Not applicable Guangzhou Hengyun State-owned legal person 11.18% 561,117,341 -25,239,900 - 561,117,341 Not applicable Guangzhou Industrial Investment State-owned legal person 9.60% 481,777,668 -20,549,300 - 481,777,668 Not applicable Guangzhou Metro State-owned legal person 5.72% 287,194,633 - - 287,194,633 Not applicable Guangzhou Yue Enterprise State-owned legal person 3.17% 159,235,887 - - 159,235,887 Not applicable Guangzhou Exchange Investment Fund State-owned legal person 1.53% 76,790,727 - - 76,790,727 Not applicable Guangzhou Baiyun State-owned legal person 0.58% 28,945,064 - - 28,945,064 Not applicable Hong Kong Securities Clearing Company

Overseas legal person 0.47% 23,820,295 -36,307,959 - 23,820,295 Not applicable to limited companies

Beijing China Post State-owned legal person 0.19% 9,662,917 - - 9,662,917 Not applicable Guangdong Guangjin Investment Management

Management Co., Ltd.-Guang

Others 0.12% 5,911,800 5,911,800 - 5,911,800 Not applicable Jinzhiyuan Private Securities

investment fund

Strategic investors or general legal persons due to placement

Not applicable

The situation of new shares becoming the top 10 shareholders

Related relationships or concerted actions among the above-mentioned shareholders. Among the above-mentioned shareholders, Guangzhou Yueqi is a wholly-owned subsidiary of Yuexiu Group and is a person acting in concert. In addition, it is unknown whether there is an associated relationship or concerted action relationship between the shareholders mentioned in the company's statement.

The above-mentioned shareholders are involved in proxy/trustee voting

Not applicable

Explanation on the circumstances of voting rights and renunciation of voting rights

There is a special repurchase account among the top 10 shareholders. At the end of the reporting period, the company's special repurchase securities account held 18,269,991 shares of the company, accounting for 0.36% of the company's total shares and is not included in the list of the top 10 shareholders.

Shareholdings of the top 10 shareholders without sales restrictions (excluding shares lent through refinancing and shares locked by executives)

Share type

Name of shareholder Number of shares without selling restrictions held at the end of the reporting period

Type of shares Quantity Yuexiu Group 2,198,601,036 RMB ordinary shares 2,198,601,036 Guangzhou Hengyun 561,117,341 RMB ordinary shares 561,117,341 Guangzhou Industrial Investment 481,777,668 RMB ordinary shares 481,777,668 Guangzhou Metro 287,194,633 RMB ordinary shares 287,194,633 Guangzhou Yueqi 159,235,887 RMB ordinary shares 159,235,887 Guangzhou Communications Investment Fund 76,790,727 RMB ordinary shares 76,790,727 Guangzhou Baiyun 28,945,064 RMB ordinary shares 28,945,064 Hong Kong Securities Clearing Company Limited 23,820,295 RMB ordinary shares 23,820,295 Beijing China Post 9,662,917 RMB ordinary shares 9,662,917 Guangdong Guangjin Investment Management Co., Ltd. -

5,911,800 RMB ordinary shares 5,911,800 Guangjin Zhiyuan Private Securities Investment Fund

Among the top 10 shareholders with no sales limit

time, and the top 10 no-sale conditions. Among the above-mentioned shareholders, Guangzhou Yueqi is a wholly-owned subsidiary of Yuexiu Group and is a person acting in concert. In addition, the company is not aware of the relationship between the above shareholders and the top 10 shareholders. Whether there is a relationship or concerted action relationship between the above shareholders.

Description of relationship or concerted action

As of the end of the reporting period, Guangdong Guangjin Investment Management Co., Ltd.-Guangjin Zhiyuan Private Securities Investment Fund participated in financing through the top 10 ordinary shareholders of the ordinary account

Holds 0 shares of the company's stock and holds 5,911,800 shares of the company's stock through a credit account, totaling the company's stock securities lending business.

5,911,800 shares

The situation of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10 shareholders of unrestricted tradable shares participating in the refinancing business and lending shares

□Applicable Not applicable

The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed from the previous period due to refinancing lending/returning.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

□Applicable Not applicable

Whether the company's top 10 ordinary shareholders and the top 10 unrestricted ordinary shareholders conducted agreed repurchase transactions during the reporting period

□Yes No

4. Changes in shareholdings of directors and senior managers

End of the period Beginning of the period Increase in shares held during the period Decrease in shares held during the period Number of shares held at the end of the period Name Position

Position status Number of shares held (shares) Number (shares) Number (shares) (shares) Wu Yonggao Vice Chairman, Director, General Manager Incumbent 1,216,955 173,642 - 1,390,597 Chen Tonghe Employee Representative Director Incumbent 929,081 136,438 - 1,065,519 Li Wenwei Deputy General Manager Incumbent 274,894 38,126 - 313,020 Wang Shuhui Chairman, Director Resigned 1,768,568 - - 1,768,568 Total -- -- 4,189,498 348,206 -- 4,537,704 Note: The increase in the number of shares held by the company’s directors and senior managers during the reporting period was due to the transfer of shares to individuals after the expiration of the lock-in period of the core personnel stock ownership plan in 2025.

5. Changes in controlling shareholders or actual controllers

□Applicable Not applicable

6. Relevant information on preference shares

□Applicable Not applicable

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Section 7 Bond-related situations

1. Corporate bonds

□Applicable Not applicable

2. Corporate bonds

Basic information of corporate bonds

Unit: 10,000 yuan

Bond name Bond abbreviation Bond code Issue date Value date Maturity date Bond term Bond balance Interest rate Principal and interest payment method Trading place Guangzhou Yuexiu Financial Holding Group This bond adopts simple interest and calculates interest based on the 2021 face year of the joint-stock company, without compound interest.

August 2021 August 2021 August 2028

Publicly issued to professional investors 21 Yuekong 04 149598.SZ 5+2 years 50,000 3.52% Interest paid once a year, due Shenzhen Stock Exchange

12th 13th 13th Note 1

Corporate Bonds (Third Issue) The principal is repaid in one go, and the interest in the last issue (Type 2) is paid together with the principal to Guangzhou Yuexiu Capital Holding Group. This bond adopts simple interest and calculates interest based on the face year of 2023 of the joint-stock company, without compound interest.

April 2023 April 2023 April 2028

Public offering to professional investors 23 Yue Zi 02 148232.SZ 5 years 40,000 3.58% Interest paid once a year, due Shenzhen Stock Exchange

4th 6th 6th

Corporate Bonds (First Issue) The principal is repaid in one go, and the interest in the last issue (Type 2) is paid together with the principal to Guangzhou Yuexiu Capital Holding Group. This bond adopts simple interest and calculates interest based on the face year of 2023 of the joint-stock company, without compound interest.

July 2023 July 2023 July 2026

Publicly issued to professional investors 23Yuezi 03 148353.SZ 3 years 50,000 2.91% Interest paid once a year, due Shenzhen Stock Exchange

21st 24th 24th

Corporate Bonds (Second Issue) The principal is repaid in one go, and the interest in the last issue (Type 1) is paid together with the principal.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond name Bond abbreviation Bond code Issue date Value date Maturity date Bond term Bond balance Interest rate Principal and interest payment method Trading place

The current bonds of Guangzhou Yuexiu Capital Holding Group adopt simple interest and calculate interest based on the face year of 2024 of the joint-stock company, without compound interest.

July 2024 August 2024 August 2034

Publicly issued to professional investors 24 Yue Zi 02 148836.SZ 10 years 120,000 2.49% Interest paid once a year, due Shenzhen Stock Exchange

29th 1st 1st

Corporate bonds (first issue), the principal is repaid in one go, and the interest in the last issue (type 2) is paid together with the principal.

The current bonds of Guangzhou Yuexiu Capital Holding Group adopt simple interest and calculate interest based on the face year of 2024 of the joint-stock company, without compound interest.

December 2024 December 2024 December 2027

Publicly issued to professional investors 24 Yuezi Y1 524083.SZ 3+N years 120,000 2.10% Interest paid once a year, due Shenzhen Stock Exchange

20th 23rd 23rd

Renewable corporate bonds (first repayment of principal, final installment) Interest is paid together with the principal

The current bonds of Guangzhou Yuexiu Capital Holding Group adopt simple interest and calculate interest based on the face year of 2025 of the joint-stock company, without compound interest.

April 2025 April 2025 April 2028

Publicly issued to professional investors 25Yuezi 01 524248.SZ 3 years 80,000 1.90% Interest paid once a year, due Shenzhen Stock Exchange

23rd 23rd 23rd

Corporate bonds (first issue) are repaid in one lump sum, and interest is paid together with the principal in the last issue (type 1).

The current bonds of Guangzhou Yuexiu Capital Holding Group adopt simple interest and calculate interest based on the face year of 2025 of the joint-stock company, without compound interest.

June 2025 June 2025 June 2028

Publicly issued to professional investors 25 Yue Zi 03 524297.SZ 3 years 30,000 1.80% Interest paid once a year, due Shenzhen Stock Exchange

9th 10th 10th

Corporate Bonds (Second Issue) The principal is repaid in one go, and the interest in the last issue (Type 1) is paid together with the principal.

The current bonds of Guangzhou Yuexiu Capital Holding Group adopt simple interest and calculate interest based on the face year of 2025 of the joint-stock company, without compound interest.

June 2025 June 2025 June 2035

Publicly issued to professional investors 25 Yue Zi 04 524298.SZ 10 years 70,000 2.37% Interest paid once a year, due Shenzhen Stock Exchange

9th 10th 10th

Corporate bonds (second issue) The principal is repaid in one go, and the interest in the last issue (type two) is paid together with the principal.

The current bonds of Guangzhou Yuexiu Capital Holding Group adopt simple interest and calculate interest based on the face year of 2025 of the joint-stock company, without compound interest.

October 2025 October 2025 October 2027

Publicly issued to professional investors 25Yuezi 05 524456.SZ 2 years 60,000 1.85% Interest paid once a year, due Shenzhen Stock Exchange

16th 17th 17th

Corporate Bonds (Third Issue) The principal is repaid in one go, and the interest in the last issue (Type 1) is paid together with the principal.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond name Bond abbreviation Bond code Issue date Value date Maturity date Bond term Bond balance Interest rate Principal and interest payment method Trading place Guangzhou Yuexiu Capital Holding Group This bond adopts simple interest and calculates interest based on the face year of 2025 of the joint-stock company, without compound interest.

November 2025 November 2025 November 2027

Publicly issued to professional investors 25 Yue Zi 07 524533.SZ 2 years 90,000 1.80% Interest paid once a year, due Shenzhen Stock Exchange

17th 18th 18th

Corporate Bonds (Fourth Issue) The principal is repaid in one go, and the interest in the last issue (Variety 1) is paid together with the principal to Guangzhou Yuexiu Capital Holding Group. This bond adopts simple interest and calculates interest based on the face year of 2025 of the joint-stock company, without compound interest.

November 2025 November 2025 November 2030

Publicly issued to professional investors 25 Yue Zi 08 524534.SZ 5 years 50,000 1.98% Interest paid once a year, due Shenzhen Stock Exchange

17th 18th 18th

Corporate Bonds (Fourth Issue) The principal is repaid in one go, and the interest in the last issue (Type 2) is paid together with the principal to Guangzhou Yuexiu Capital Holding Group. This bond adopts simple interest and calculates interest based on the face year of 2026 of the joint-stock company, without compound interest.

January 2026 February 2026 February 2028

Publicly issued to professional investors 26 Yuezi 01 524650.SZ 2 years 50,000 1.78% Interest paid once a year, due Shenzhen Stock Exchange

29th 2nd 2nd

Corporate bonds (first issue) are repaid in one lump sum, and interest is paid together with the principal in the last issue (type 1).

This issue of bonds adopts simple interest rate according to Guangzhou Yuexiu Capital Holding Group

Interest is calculated annually, without compound interest. Co., Ltd. 2026 May 2026 May 2026 May 2036

26 Vietnam Capital 03 524797.SZ 10 years 80,000 2.37% Interest is paid once a year, due. Publicly issued by Shenzhen Stock Exchange to professional investors 18th 19th 19th

One-time principal repayment, the last tranche of corporate bonds (second tranche)

Interest is paid along with the principal

They all adopt the method of online price inquiry and placement for professional investors. The issuer and bookkeeper conduct bond placement based on the bookkeeping situation. The Shenzhen Securities Investors Suitability Arrangement

The public issuance by professional investors as stipulated in the "Measures for the Management of Investor Suitability in the Bond Market of the Stock Exchange" and the applicable trading mechanism that does not provide preferential allotment to the issuer's shareholders can be circulated and transferred on the Shenzhen Stock Exchange.

Are there risks and countermeasures for termination of listing and trading? No

Note 1: 21 Overcontrol 04 has actually expired on August 13, 2026 due to its choice not to exercise.

Overdue bonds

□Applicable Not applicable

Triggering and execution of issuer or investor option clauses and investor protection clauses

□Applicable Not applicable

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Adjustments to credit rating results during the reporting period

□Applicable Not applicable

During the reporting period, the company maintained its AAA credit rating and no rating adjustment occurred.

The implementation and changes of guarantees, debt repayment plans and other debt repayment guarantee measures during the reporting period and their impact on the rights and interests of bond investors

□Applicable Not applicable

There were no major changes in the Group's corporate bond guarantees, debt repayment plans and other debt repayment safeguards during the reporting period, and had no significant impact on the rights and interests of bond investors.

3. Non-financial corporate debt financing tools

Basic information on debt financing instruments of non-financial enterprises

Unit: 10,000 yuan bond Trading bond name Bond abbreviation Bond code Issue date Value date Maturity date Bond balance Interest rate Principal and interest payment method

Term Venue Guangzhou Yuexiu Capital Holdings Uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 23 Yuexiu Capital April 2023 April 6, 2028 Compound interest is calculated. One interest payment per year

102380784.IB April 6, 2023 5 years 50,000 3.50% Interbank bonds 2023 third tranche MTN003 3 days per day, redeemable in one go on the redemption date

Securities market notes, payment of principal and final interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 23 Yuexiu Capital May 2023 May 26, 2023 May 26, 2028 Compound interest is calculated. One interest payment per year

102381234.IB 5 years 30,000 3.48% Interbank bond 2023 fourth installment MTN004B 24th day day times, redeemable in one go on the redemption date

Securities market notes (Type 2) Payment of principal and last period of interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 23 Yuexiu Capital July 2023 July 21, 2023 July 21, 2026 Compound interest is calculated. One interest payment per year

102381772.IB 3 years 30,000 2.90% Interbank bond 2023 fifth installment MTN005A 19th day day times, redeemable in one go on the redemption date

Securities market notes (Type 1) Payment of principal and last period of interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 23 Yuexiu Capital July 2023 July 21, 2023 July 21, 2028 Compound interest is calculated. One interest payment per year

102381773.IB 5 years 30,000 3.40% Interbank bonds 2023 fifth installment MTN005B 19th day day times, redeemable in one go on the redemption date

Securities market notes (Type 2) Payment of principal and last period of interest

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond Trading bond name Bond abbreviation Bond code Issue date Value date Maturity date Bond balance Interest rate Principal and interest payment method

Term Venue Guangzhou Yuexiu Capital Holdings Uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 24 Yuexiu Capital January 2024 January 22, 2024 January 22, 2029 Compound interest is calculated. One interest payment per year

102480244.IB 5 years 30,000 3.00% Interbank bond 2024 first tranche MTN001A 18th day day times, redeemable in one go on the redemption date

Securities market notes (Type 1) Payment of principal and last period of interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 24 Yuexiu Capital January 2024 January 22, 2024 January 22, 2034 Compound interest is calculated. One interest payment per year

102480245.IB 10 years 30,000 3.30% Interbank bond 2024 first tranche MTN001B 18th day day times, redeemable in one go on the redemption date

Securities market notes (Type 2) Payment of principal and last period of interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 24 Yuexiu Capital May 2024 May 23, 2024 May 23, 2029 Compound interest is calculated. One interest payment per year

102482002.IB 5 years 80,000 2.45% Interbank bond 2024 second tranche MTN002A 21st day day times, redeemable in one go on the redemption date

Securities market notes (Type 1) Payment of principal and last period of interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 24 Yuexiu Capital May 2024 May 23, 2024 May 23, 2034 Compound interest is calculated. One interest payment per year

102482003.IB 10 years 70,000 2.90% Interbank bond 2024 second tranche MTN002B 21st day day times, redeemable in one go on the redemption date

Securities market notes (Type 2) Payment of principal and last period of interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 25 Yuexiu Capital February 2025 February 20, 2025 February 20, 2035 Compound interest is calculated. One interest payment per year

102580661.IB 10 years 60,000 2.28% Interbank bond 2025 first tranche MTN001A 18th day day times, redeemable in one go on the redemption date

Securities market notes (Type 1) Payment of principal and last period of interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 25 Yuexiu Capital February 2025 February 20, 2025 February 20, 2040 Compound interest is calculated. One interest payment per year

102580662.IB 15 years 40,000 2.40% Interbank bond 2025 first tranche MTN001B 18th day day times, redeemable in one go on the redemption date

Securities market notes (Type 2) Payment of principal and last period of interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 25 Yuexiu Capital July 2025 July 24, 2025 July 24, 2035 Compound interest is calculated. One interest payment per year

102583028.IB 10 years 50,000 2.29% Interbank bonds 2025 second tranche MTN002 22nd day day times, redeemable in one go on the redemption date

Securities market notes, payment of principal and final interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 26 Yuexiu Capital January 2026 January 20, 2026 January 20, 2029 Compound interest is calculated. One interest payment per year

102680224.IB 3 years 20,000 1.91% Interbank bond 2026 first tranche MTN001A 19th day day times, redeemable in one go on the redemption date

Securities market notes (Type 1) Payment of principal and last period of interest

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond Trading bond name Bond abbreviation Bond code Issue date Value date Maturity date Bond balance Interest rate Principal and interest payment method

Term Venue Guangzhou Yuexiu Capital Holdings Uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 26 Yuexiu Capital January 2026 January 20, 2026 January 20, 2031 Compound interest is calculated. One interest payment per year

102680225.IB 5 years 20,000 2.04% Interbank bond 2026 first tranche MTN001B 19th day day times, redeemable in one go on the redemption date

Securities market notes (Type 2) Payment of principal and last period of interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 26 Yuexiu Capital January 2026 January 21, 2026 January 21, 2029 Compound interest is calculated. One interest payment per year

102680250.IB 3 years 20,000 1.9% Interbank bond 2026 second tranche MTN002A 20th day day times, redeemable in one go on the redemption date

Securities market notes (Type 1) Payment of principal and last period of interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 26 Yuexiu Capital January 2026 January 21, 2026 January 21, 2031 Compound interest is calculated. One interest payment per year

102680251.IB 5 years 20,000 2.04% Interbank bond 2026 second tranche MTN002B 20th day day times, redeemable in one go on the redemption date

Securities market notes (Type 2) Payment of principal and last period of interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 26 Yuexiu Capital March 2026 March 6, 2029 Compound interest is calculated. One interest payment per year

102680694.IB March 6, 2026 3 years 50,000 1.81% Interbank bonds 2026 third tranche MTN003 5 days per day, redeemable in one go on the redemption date

Securities market notes, payment of principal and final interest

Guangzhou Yuexiu Capital Holdings uses simple interest to pay interest annually, no

National Bank Group Co., Ltd. 26 Yuexiu Capital April 2026 April 2031 2 Compound interest is calculated. One interest payment per year

102681212.IB April 2, 2026 5 years 50,000 1.94% Interbank bonds 2026 fourth installment MTN004B 1 day, redeemable in one go on the redemption date

Securities market notes (Type 2) Payment of principal and last period of interest

Guangzhou Yuexiu Capital Holdings

Simple interest is used to calculate interest on an annual basis, without National Bank Group Co., Ltd. 26 Yuexiu Capital March 2026 November 2026 270

012680553.IB March 5, 2026 50,000 1.55% Compound interest will be calculated, and the principal will be repaid in one lump sum upon maturity. The first tranche of interbank bonds in 2026 will exceed SCP001 4 days 30 days.

Interest-paying bond market short-term financing bonds

Guangzhou Yuexiu Capital Holdings

Simple interest is used to calculate interest on an annual basis, without National Bank Group Co., Ltd. 26 Yuexiu Capital May 2026 May 22, 2026 January 17, 2027 240

012681276.IB 30,000 1.41% Compound interest, principal repayment in one lump sum at maturity Inter-bank bond 2026 second tranche SCP002 21 days day days

Interest-paying bond market short-term financing bonds

Guangzhou Yuexiu Capital Holdings

Simple interest is used to calculate interest on an annual basis, without National Bank Group Co., Ltd. 26 Yuexiu Capital May 2026 February 26, 2027 270

012681345.IB June 1, 2026 50,000 1.40% Compound interest will be calculated, and the principal will be repaid in one lump sum upon maturity. The third tranche of interbank bonds in 2026 will exceed SCP003 29th day.

Interest-paying bond market short-term financing bonds

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 Semi-annual Report Full text Bonds Trading bond name Bond abbreviation Bond code Issue date Value date Maturity date Bond balance Interest rate Principal and interest payment method Period Venue Guangzhou Yuexiu Capital Holdings

Simple interest is used to calculate interest on an annual basis, without National Bank Group Co., Ltd. 26 Yuexiu Capital June 2026 June 16, 2026 March 13, 2027 270

012681474.IB 50,000 1.47% Compound interest, principal repayment in one lump sum at maturity Inter-bank bond 2026 fourth tranche SCP004 15 days day days days

Interest-paying bond market short-term financing bonds

Arrangements for investor suitability. The above debt financing instruments are publicly issued to institutional investors in the national interbank bond market through centralized bookkeeping and centralized allotment. The above debt financing instruments can be circulated and transferred in the national interbank bond market.

Are there risks and countermeasures for termination of listing and trading? No

Overdue bonds

□Applicable Not applicable

Triggering and execution of issuer or investor option clauses and investor protection clauses

□Applicable Not applicable

Adjustments to credit rating results during the reporting period

□Applicable Not applicable

During the reporting period, the company maintained its AAA credit rating and no rating adjustment occurred.

The implementation and changes of guarantees, debt repayment plans and other debt repayment guarantee measures during the reporting period and their impact on the rights and interests of bond investors

□Applicable Not applicable

The guarantees, debt repayment plans and other debt repayment safeguards of the company's non-financial corporate debt financing instruments did not undergo significant changes during the reporting period and had no significant impact on the rights and interests of bond investors.

4. Convertible corporate bonds

□Applicable Not applicable

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

5. The loss in the consolidated statement scope during the reporting period exceeds 10% of the net assets at the end of the previous year

□Applicable Not applicable

6. The company’s main accounting data and financial indicators in the past two years as of the end of the reporting period

Unit: 10,000 yuan

Items End of the reporting period End of the previous year (restated) Increase or decrease in current ratio at the end of the reporting period compared with the end of the previous year 1.49 1.38 7.97% Asset-liability ratio 77.05% 76.56% Increased by 0.49 percentage points Quick ratio 1.49 1.38 7.97%

This reporting period The same period last year (restated) This reporting period increased or decreased net profit after deducting non-recurring gains and losses compared with the same period last year 297,918.46 198,947.71 49.75% EBITDA total debt ratio (%) 4.44% 3.52% increased by 0.92 percentage points Interest coverage ratio 3.11 2.13 46.01% Cash interest coverage ratio 1.52 2.37 -35.86% EBITDA interest coverage ratio 3.67 2.57 42.80% Loan repayment rate 100.00% 100.00%

Interest coverage ratio 100.00% 100.00%

7. Other matters

Issuance of corporate bonds and non-financial corporate debt financing instruments by the company’s holding subsidiaries

During the reporting period, the company had five holding subsidiaries that issued corporate bonds and non-financial corporate debt financing instruments, namely Guangzhou Yuexiu Capital (subject rating AAA), Yuexiu Leasing (subject rating AAA), Guangzhou Assets (subject rating AAA), Yuexiu Industrial Investment (subject rating AA+), and Shanghai Yuexiu Leasing (subject rating AAA). The details are as follows:

Unit: 10,000 yuan

Bond type Company abbreviation Issuance balance at the beginning of the period New issuance amount during the reporting period Maturity amount during the reporting period Issuance balance at the end of the period

Guangzhou Yuexiu Capital 90,000 90,000

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 Semi-annual Report Full text Bond type Company abbreviation Opening issuance balance New issuance amount during the reporting period Maturity amount during the reporting period Ending issuance balance Yuexiu Leasing 500,000 500,000 Corporate bonds Guangzhou Assets 741,000 100,000 100,000 741,000 Yuexiu Industrial Investment 250,000 95,000 95,000 250,000 Yuexiu Leasing 935,017 290,000 330,538 894,479Guangzhou Assets 550,000 100,000 150,000 500,000 Non-financial corporate debt financing instruments

Yuexiu Industrial Investment 150,000 150,000 Shanghai Yuexiu Leasing 50,000 50,000 Total 3,266,017 585,000 675,538 3,175,479

Issuance of other financing products by the company and its holding subsidiaries

During the reporting period, the issuance of other financing products by the company and its holding subsidiaries is as follows:

Unit: 10,000 yuan Bond type Company abbreviation Opening issuance balance New issuance amount during the reporting period Maturity amount during the reporting period Ending issuance balance Yuexiu Leasing (including Shanghai Yuexiu Leasing)

Exchange ABS 922,224 466,900 435,972 953,152 Lease Joint Issue)

Exchange ABS (quasi REITs) Yuexiu New Energy 69,400 69,400

Overdue bonds of the company’s holding subsidiaries

□Applicable Not applicable

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Section 8 Financial Report

(Unless otherwise stated, the unit of amount is RMB)

1. Audit report

Has the semi-annual report been audited?

□Yes No

The company's semi-annual financial report has not been audited.

2. Financial statements

Consolidated balance sheet

Prepared by: Guangzhou Yuexiu Capital Holding Group Co., Ltd. Unit: Yuan

Items June 30, 2026 December 31, 2025 (restated) Current assets:

Monetary funds 19,190,003,466.53 16,507,400,376.02 Settlement reserves 29,159,999.57 8,667,938.05 Loan funds

Trading financial assets 47,958,953,208.50 45,957,540,980.91 Derivative financial assets

Notes receivable 5,722,670.10

Accounts receivable 1,043,328,904.77 669,875,739.20 Accounts receivable financing

Prepayments 124,778,186.48 126,792,220.54 Premiums receivable

Reinsurance accounts receivable

Receivable reinsurance contract reserves

Other receivables 635,559,812.83 788,086,772.88 Including: interest receivable

Dividends receivable 233,796,096.53 367,191,019.78 Financial assets purchased under resale agreements

Inventory

Among them: data resources

Contract assets 241,517.71 460,106.71 Assets held for sale

Non-current assets due within one year 23,672,478,529.67 26,271,819,254.99 Other current assets 11,754,702,093.38 10,213,997,318.84 Total current assets 104,414,928,389.54 100,544,640,708.14 Non-current assets:

Grant loans and advances

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Item June 30, 2026 December 31, 2025 (restated) Debt investment 1,378,425,628.35 1,001,953,732.96 Other debt investments

Long-term receivables 36,888,262,935.08 30,921,120,643.04 Long-term equity investment 43,656,421,881.64 41,443,205,671.58 Other equity instrument investments 18,032,407.11 18,001,119.03 Other non-current financial assets

Investment real estate 12,341,299.68 14,368,574.99 Fixed assets 40,646,078,172.54 37,752,732,579.17 Construction in progress 18,701,301.29 10,997,880.49 Productive biological assets

oil and gas assets

Right-of-use assets 68,361,074.35 108,261,232.52 Intangible assets 80,964,910.13 81,013,893.84

Among them: data resources

development expenditure

Among them: data resources

goodwill

Long-term deferred expenses 11,772,671.77 14,989,898.21 Deferred income tax assets 910,907,293.02 841,348,612.03 Other non-current assets 334,376,356.20 448,150,178.19 Total non-current assets 124,024,645,931.16 112,656,144,016.05 Total assets 228,439,574,320.70 213,200,784,724.19 Current liabilities:

Short-term borrowings 13,558,282,028.57 8,170,829,351.97 Borrowings from the central bank

borrowing funds

Trading financial liabilities 3,128,941,967.67 1,834,136,394.09 Derivative financial liabilities

Notes payable 1,718,101,922.29 2,060,703,253.14 Accounts payable 851,335,076.80 480,655,900.58 Advance receipts 2,841,411,318.56 2,503,128,359.37 Contract liabilities 12,740,440.20 10,549,336.81 Financial assets sold and repurchased

Taking deposits and placing deposits with other banks

Agent for buying and selling securities

Agent underwriting securities funds

Employee benefits payable 583,675,032.89 626,545,383.79 Taxes payable 189,773,954.84 205,510,500.45 Other payables 2,777,310,690.36 1,525,508,436.50 Including: interest payable

Dividends payable 787,123,485.39 8,792,182.81 Handling fees and commissions payable

Reinsurance accounts payable

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Item June 30, 2026 December 31, 2025 (Restated) Liabilities held for sale

Non-current liabilities due within one year 32,660,281,273.50 44,687,703,208.95 Other current liabilities 11,866,114,792.59 10,617,628,731.88 Total current liabilities 70,187,968,498.27 72,722,898,857.53 Non-current liabilities:

Insurance contract reserves 67,338,340.68 67,338,340.68 Long-term borrowings 66,129,423,334.54 53,640,493,104.47 Bonds payable 34,238,477,947.11 32,764,600,549.32 Including: preferred shares

perpetual bond

Lease liabilities 23,592,203.55 41,957,115.10 Long-term payables 4,841,634,351.81 3,630,513,956.19 Long-term employee benefits payable

Estimated liabilities 81,250,000.00 81,250,000.00 Deferred income 4,925,000.00 5,850,000.00 Deferred income tax liabilities 433,236,261.98 264,502,373.03 Other non-current liabilities

Total non-current liabilities 105,819,877,439.67 90,496,505,438.79 Total liabilities 176,007,845,937.94 163,219,404,296.32 Owners’ equity:

Share capital 5,017,132,462.00 5,017,132,462.00 Other equity instruments 1,200,000,000.00 1,200,000,000.00 Including: preference shares

Perpetual bonds 1,200,000,000.00 1,200,000,000.00 Capital reserves 12,202,314,579.38 12,206,263,723.27 Less: treasury shares 100,199,244.71 100,199,244.71 Other comprehensive income -381,991,692.74 -98,836,032.94Special reserve

Surplus reserve 1,295,023,620.48 1,268,373,086.66 General risk reserve 936,378,999.06 936,378,999.06 Undistributed profits 14,926,808,559.57 12,793,367,986.48 Total owners’ equity attributable to the parent company 35,095,467,283.04 33,222,480,979.82 Minority shareholders’ equity 17,336,261,099.72 16,758,899,448.05 Total owners’ equity 52,431,728,382.76 49,981,380,427.87 Total liabilities and owners’ equity 228,439,574,320.70 213,200,784,724.19

Legal representative: Li Feng Person in charge of accounting work: Lin Ying Person in charge of accounting department: Shi Qiyang

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Balance sheet of the parent company

Prepared by: Guangzhou Yuexiu Capital Holding Group Co., Ltd. Unit: Yuan

Item June 30, 2026 Current assets on December 31, 2025:

Monetary funds 1,897,747,936.40 2,183,080,512.06 Trading financial assets 258,511,732.62 252,879,368.62 Derivative financial assets

Notes receivable

Accounts receivable

Receivables Financing

Prepayments 156,280.83 740.00 Other receivables 8,504,284,399.98 11,435,789,855.21 Including: interest receivable

Dividends receivable 1,506,075,563.71 1,580,261,824.48 Inventory

Among them: data resources

contract assets

Assets held for sale

Non-current assets due within one year

Other current assets 902,214.64 773,512.19 Total current assets 10,661,602,564.47 13,872,523,988.08 Non-current assets:

debt investment

Other debt investments

long-term receivables

Long-term equity investment 34,128,984,249.80 31,744,736,816.31 Other equity instrument investments 212,092,405.72

Other non-current financial assets

investment real estate

fixed assets

Construction in progress

productive biological assets

oil and gas assets

right-of-use assets

intangible assets

Among them: data resources

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Project June 30, 2026 December 31, 2025

development expenditure

Among them: data resources

goodwill

Long-term deferred expenses

Deferred tax assets

Other non-current assets

Total non-current assets 34,341,076,655.52 31,744,736,816.31 Total assets 45,002,679,219.99 45,617,260,804.39 Current liabilities:

Short-term borrowings 3,355,409,631.38 1,941,544,229.14 Trading financial liabilities

Derivative financial liabilities

Notes payable

Accounts payable

advance payment

Contract liabilities

Employee compensation payable

Taxes payable 37,868.97 997,378.31 Other payables 480,455,534.79 1,025,081.38 Including: interest payable

Dividends payable 479,430,453.45

Liabilities held for sale

Non-current liabilities due within one year 2,813,125,824.46 9,413,469,754.51 Other current liabilities 1,804,706,346.92 1,119,336,592.07 Total current liabilities 8,453,735,206.52 12,476,373,035.41 Non-current liabilities:

Long-term borrowings 2,026,794,500.00 1,221,693,000.00 Bonds payable 13,184,668,880.85 10,088,360,872.16 Including: preference shares

perpetual bond

Lease liability

long-term payables

Long-term employee benefits payable

Estimated liabilities 26,621,540.11 26,621,540.11

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Project June 30, 2026 December 31, 2025

deferred income

Deferred income tax liability

Other non-current liabilities

Total non-current liabilities 15,238,084,920.96 11,336,675,412.27 Total liabilities 23,691,820,127.48 23,813,048,447.68 Owners’ equity:

Share capital 5,017,132,462.00 5,017,132,462.00 Other equity instruments 1,200,000,000.00 1,200,000,000.00 Including: preference shares

Perpetual bonds 1,200,000,000.00 1,200,000,000.00 Capital reserves 12,360,754,531.56 12,361,065,179.29 Less: treasury shares 100,199,244.71 100,199,244.71 Other comprehensive income -44,902,920.34 64,792,913.14 Special reserves

Surplus reserve 1,295,023,620.48 1,268,373,086.66 Undistributed profits 1,583,050,643.52 1,993,047,960.33 Total owners’ equity 21,310,859,092.51 21,804,212,356.71 Total liabilities and owners’ equity 45,002,679,219.99 45,617,260,804.39

Legal representative: Li Feng Person in charge of accounting work: Lin Ying Person in charge of accounting department: Shi Qiyang

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Consolidated income statement

Prepared by: Guangzhou Yuexiu Capital Holding Group Co., Ltd. Unit: Yuan

Item 2026 Half Year 2025 Half Year (Restated)

Total operating income 3,593,831,821.48 4,097,180,946.96 Including: main business income 2,179,286,952.74 2,575,115,044.34 Interest income 1,266,704,173.79 1,355,970,990.11Premiums earned

Fee and commission income 138,458,426.43 142,865,013.75 Other business income 9,382,268.52 23,229,898.76

Total operating costs 3,785,850,180.63 3,703,745,388.86 Among them: main business costs 1,312,166,218.84 1,144,049,683.47 Interest expenses 1,639,887,151.27 1,839,261,125.94 Handling fees and commission expenses 4,646,627.00 4,114,194.77 Other business costs 2,160,714.93 15,091,470.02 Surrender fee

Net compensation expenses

Net withdrawal of insurance liability reserves

policy dividend payout

Reinsurance expenses 77,920.43 287,736.44 Taxes and surcharges 22,699,447.65 19,763,769.10 Sales expenses 7,632,808.45 1,442,583.55 Management expenses 579,313,968.62 550,264,161.04R&D expenses 2,844,270.17 2,211,668.63Financial expenses 214,421,053.27 127,258,995.90Including: Interest expenses 278,488,663.45 219,580,631.79

Interest income 76,740,081.07 125,767,207.74 Plus: other income 10,669,550.55 16,071,210.32 Investment income (losses are listed with "-") 3,910,397,516.36 1,967,712,420.40 Including: investment income from associates and joint ventures 2,054,038,576.18 1,202,176,691.38

Derecognition of financial assets measured at amortized cost

income

Exchange gains (losses are listed with "-")

Net exposure hedging income (losses are listed with a “-” sign)

Gains from changes in fair value (losses are listed with "-") -271,702,642.32 57,805,726.18

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Items Half-year 2026 Credit impairment losses for the first half of 2025 (restated) (losses are listed with "-") -75,882,316.04 -90,373,071.21 Asset impairment losses (losses are listed with "-") 4,461.00 -5,830,906.29

Asset disposal income (losses are listed with "-") 1,659,249.45 89,464.36

Operating profit (losses are listed with "-") 3,383,127,459.85 2,338,910,401.86 Plus: non-operating income 671,960,443.59 69,849.10 Less: non-operating expenses 1,277,616.68 2,869,929.73
Total profits (total losses are listed with "-") 4,053,810,286.76 2,336,110,321.23 Less: income tax expenses 468,918,931.01 336,508,301.77
Net profit (net loss is listed with "-") 3,584,891,355.75 1,999,602,019.46

(1) Classification by business continuity

Net profit from continuing operations (net losses are listed with "-") 3,584,891,355.75 1,999,602,019.46 2. Net profit from discontinued operations (net losses are listed with "-")

(2) Classification according to ownership ownership

Net profit attributable to shareholders of the parent company 2,809,943,228.14 1,558,062,290.88 2. Profit and loss of minority shareholders 774,948,127.61 441,539,728.58
Net amount of other comprehensive income after tax -284,949,053.48 20,098,410.32 Net amount of other comprehensive income attributable to the owners of the parent company -283,155,659.80 19,837,953.34

(1) Other comprehensive income that cannot be reclassified into profit or loss -100,931,665.64 70,978,107.99 1. Remeasurement of changes in defined benefit plan

Other comprehensive income that cannot be transferred to profit or loss under the equity method -100,945,745.28 70,978,107.99 3. Changes in the fair value of other equity instrument investments 14,079.64
Changes in the fair value of the company’s own credit risk

5.Others

(2) Other comprehensive income that will be reclassified into profit and loss -182,223,994.16 -51,140,154.65 1. Other comprehensive income that can be converted into profit and loss under the equity method -159,170,235.28 -46,979,929.79 2. Changes in the fair value of other debt investments

The amount of financial assets reclassified and included in other comprehensive income
Credit impairment provisions for other debt investments
Cash flow hedging reserve
Translation difference of foreign currency financial statements -23,053,758.88 -4,160,224.86 7. Others

Net after-tax other comprehensive income attributable to minority shareholders -1,793,393.68 260,456.98

Total comprehensive income 3,299,942,302.27 2,019,700,429.78

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Item 2026 half-year Total comprehensive income attributable to minority shareholders in 2025 half-year (restated) 2,526,787,568.34 1,577,900,244.22 Total comprehensive income attributable to minority shareholders 773,154,733.93 441,800,185.56

8. Earnings per share:

(1) Basic earnings per share 0.5596 0.3092

(2) Diluted earnings per share 0.5596 0.3092

Legal representative: Li Feng Person in charge of accounting work: Lin Ying Person in charge of accounting department: Shi Qiyang

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Income statement of the parent company

Prepared by: Guangzhou Yuexiu Capital Holding Group Co., Ltd. Unit: Yuan

Project Half-year 2026 Half-year 2025

Operating income 6,951,198.51 9,259,305.84 Less: Interest expenses 287,962,355.01 343,665,538.33 Taxes and surcharges 251,872.66 123,172.22 Sales expenses

Management expenses 1,091,815.01 1,707,023.38 Research and development expenses

Financial expenses -7,215,710.74 -9,657,009.70 including: interest expenses

Interest income 7,458,867.52 9,685,147.88 Plus: other income 235,473.18 133,281.25 Investment income (losses are listed with "-") 535,826,634.49 277,092,744.96 Including: investment income from associates and joint ventures 432,844,685.78 249,767,939.26

Derecognition of financial assets measured at amortized cost

Profit (losses are listed with "-")

Net exposure hedging income (losses are listed with a “-” sign)

Gains from changes in fair value (losses are listed with "-") 5,632,364.00 13,618,338.11 Credit impairment losses (losses are listed with "-") -50,000.00

Asset impairment losses (losses are listed with "-")

Asset disposal income (losses are listed with "-")

Operating profit (losses are listed with "-") 266,505,338.24 -35,735,054.07 plus: non-operating income

Less: Non-operating expenses 200.00

Total profits (total losses are listed with "-") 266,505,338.24 -35,735,254.07 minus: income tax expenses
Net profit (net loss is listed with "-") 266,505,338.24 -35,735,254.07

(1) Net profit from continuing operations (net loss is listed with "-") 266,505,338.24 -35,735,254.07

(2) Net profit from discontinued operations (net loss is listed with "-")

Net after-tax amount of other comprehensive income -109,695,833.48 4,997,613.80

(1) Other comprehensive income that cannot be reclassified into profit or loss -79,243,189.64 15,144,872.89 1. Remeasurement of changes in defined benefit plan

Other comprehensive income that cannot be transferred to profit or loss under the equity method -21,870,345.80 15,144,872.89

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Item Half-year 2026 Half-year 2025 3. Changes in fair value of investments in other equity instruments -57,372,843.84

Changes in the fair value of the company’s own credit risk

5.Others

(2) Other comprehensive income that will be reclassified into profit and loss -30,452,643.84 -10,147,259.09 1. Other comprehensive income that can be converted into profit and loss under the equity method -30,452,643.84 -10,147,259.09 2. Changes in the fair value of other debt investments

The amount of financial assets reclassified and included in other comprehensive income
Credit impairment provisions for other debt investments
Cash flow hedging reserve
Translation differences of foreign currency financial statements

7.Others

Total comprehensive income 156,809,504.76 -30,737,640.27

7. Earnings per share:

(1) Basic earnings per share

(2) Diluted earnings per share

Legal representative: Li Feng Person in charge of accounting work: Lin Ying Person in charge of accounting department: Shi Qiyang

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Consolidated cash flow statement

Prepared by: Guangzhou Yuexiu Capital Holding Group Co., Ltd. Unit: Yuan

Project Half-year 2026 Half-year 2025

1. Cash flow generated from operating activities:

Cash received from sales of goods and provision of services 9,574,641,829.61 10,482,004,586.98 Net increase in customer deposits and deposits from banks

Net increase in borrowing from the central bank

Net increase in funds borrowed from other financial institutions 5,052,370,922.77 -2,832,500,535.05 Cash received from premiums of the original insurance contract

Net cash received from reinsurance business

Net increase in policyholders’ savings and investment funds

Cash collected from interest, fees and commissions 1,547,048,489.07 1,869,686,753.49 Net increase in borrowed funds

Net increase in repurchase business funds

Net cash received from buying and selling securities on behalf of agents

Tax refund received 74,759,984.91

Other cash received related to operating activities 13,901,440,760.11 14,458,249,202.60 Subtotal cash inflow from operating activities 30,150,261,986.47 23,977,440,008.02 Cash paid for purchasing goods and receiving services 24,988,677,883.81 16,057,713,719.06 Net increase in customer loans and advances

Net increase in deposits with central banks and inter-banks

Cash used to pay compensation from the original insurance contract

Net increase in lending funds

Cash used to pay interest, fees and commissions 451,926,685.42 576,788,339.84 Cash used to pay policy dividends

Cash paid to and for employees 442,231,193.93 415,492,678.99 Various taxes and fees paid 598,739,349.42 727,162,517.62 Cash paid for other operating activities 1,505,410,806.87 1,896,725,348.46 Subtotal cash outflow from operating activities 27,986,985,919.45 19,673,882,603.97 Net cash flow generated from operating activities 2,163,276,067.02 4,303,557,404.05

2. Cash flow generated from investing activities:

Cash received from recovery of investment 4,755,082,789.32 6,490,284,915.52 Cash received from investment income 2,484,907,244.72 515,457,831.00 Recovery from disposal of fixed assets, intangible assets and other long-term assets 1,260.00 32,800.00

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Project Half-year 2026 Half-year 2025

net cash

Net cash received from disposal of subsidiaries and other business units

Other cash received related to investing activities 22,249,877.90

Subtotal of cash inflows from investing activities 7,262,241,171.94 7,005,775,546.52 Payment for purchase and construction of fixed assets, intangible assets and other long-term assets

788,945,807.08 4,596,946,741.44 in cash

Cash paid for investment 7,122,299,491.78 10,626,576,393.47 Net increase in pledged loans

Net cash paid to acquire subsidiaries and other business units 332,002,960.55

Other cash payments related to investing activities

Subtotal of cash outflows from investing activities 8,243,248,259.41 15,223,523,134.91 Net cash flow generated from investing activities -981,007,087.47 -8,217,747,588.39

3. Cash flow generated from financing activities:

Cash received from investments 401,462,000.00 598,440,000.00 Including: Cash received by subsidiaries from investments from minority shareholders 401,462,000.00 598,440,000.00 Cash received from borrowings 22,258,119,607.99 22,733,347,346.66 Cash received from issuing bonds 15,172,226,849.30 14,869,103,872.27 Cash received from other financing activities 6,304,791,348.00 2,825,248,219.80 Subtotal of cash inflows from financing activities 44,136,599,805.29 41,026,139,438.73 Cash paid to repay debts 34,288,618,100.25 32,829,936,621.35 Cash paid to distribute dividends, profits or pay interest 1,859,884,696.95 1,797,471,848.37 Including: Dividends and profits paid by subsidiaries to minority shareholders 117,667,476.03 87,971,681.57 Other cash payments related to financing activities 6,400,480,327.24 3,327,896,888.19 Subtotal of cash outflows from financing activities 42,548,983,124.44 37,955,305,357.91 Net cash flow generated from financing activities 1,587,616,680.85 3,070,834,080.82

Impact of exchange rate changes on cash and cash equivalents -2,105,922.97 -12,629,481.72
Net increase in cash and cash equivalents 2,767,779,737.43 -855,985,585.24 plus: opening balance of cash and cash equivalents 15,745,171,143.81 17,645,768,618.49
Balance of cash and cash equivalents at the end of the period 18,512,950,881.24 16,789,783,033.25

Legal representative: Li Feng Person in charge of accounting work: Lin Ying Person in charge of accounting department: Shi Qiyang

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Cash flow statement of the parent company

Prepared by: Guangzhou Yuexiu Capital Holding Group Co., Ltd. Unit: Yuan

Project Half-year 2026 Half-year 2025

1. Cash flow generated from operating activities:

Cash received from selling goods and providing services

Cash received from interest, fees and commissions 735,000.00 4,964,103.18 Tax refunds received

Other cash received related to operating activities 2,903,965,831.58 2,237,349,455.73 Subtotal of cash inflows from operating activities 2,904,700,831.58 2,242,313,558.91 Cash paid for purchasing goods and receiving services

Cash paid to and for employees 406,242.80 410,120.22 Various taxes and fees paid 1,319,852.93 602,897.22 Cash paid for other operating activities 7,258,857.93 745,942,771.50 Subtotal of cash outflows from operating activities 8,984,953.66 746,955,788.94 Net cash flow generated from operating activities 2,895,715,877.92 1,495,357,769.97

2. Cash flow generated from investing activities:

Cash received from recovery of investment 2,580,000,000.00 3,503,445,003.00 Cash received from investment income 290,619,229.34 27,349,971.27 Recovery from disposal of fixed assets, intangible assets and other long-term assets

net cash

Net cash received from disposal of subsidiaries and other business units

Other cash received related to investing activities

Subtotal of cash inflows from investing activities 2,870,619,229.34 3,530,794,974.27 Payment for purchase and construction of fixed assets, intangible assets and other long-term assets

of cash

Cash paid for investment 4,966,975,248.58 3,525,159,003.00 Net cash paid to acquire subsidiaries and other business units

Other cash payments related to investing activities

Subtotal of cash outflows from investing activities 4,966,975,248.58 3,525,159,003.00 Net cash flow generated from investing activities -2,096,356,019.24 5,635,971.27

3. Cash flow generated from financing activities:

Absorbing cash received from investments

Cash received from borrowings 5,027,613,050.00 2,094,229,850.00 Cash received from issuing bonds 4,898,700,000.00 4,498,200,000.00 Cash received from other financing activities 3,210,000,000.00 1,700,000,000.00

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Project Half-year 2026 Half-year 2025

Subtotal of cash inflows from financing activities 13,136,313,050.00 8,292,429,850.00 Cash paid to repay debts 10,432,146,450.00 6,824,799,600.00 Cash paid to distribute dividends, profits or pay interest 547,433,263.95 413,201,758.22

Cash payments related to other financing activities 3,214,917,983.78 1,709,658,374.00 Subtotal cash outflows from financing activities 14,194,497,697.73 8,947,659,732.22 Net cash flow generated from financing activities -1,058,184,647.73 -655,229,882.22

Impact of exchange rate changes on cash and cash equivalents -24.81 -1,778.22
Net increase in cash and cash equivalents -258,824,813.86 845,762,080.80

Add: Balance of cash and cash equivalents at the beginning of the period 2,182,733,025.95 2,065,778,470.05

Balance of cash and cash equivalents at the end of the period 1,923,908,212.09 2,911,540,550.85

Legal representative: Li Feng Person in charge of accounting work: Lin Ying Person in charge of accounting department: Shi Qiyang

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Consolidated statement of changes in owners’ equity

Prepared by: Guangzhou Yuexiu Capital Holding Group Co., Ltd. Unit: Yuan 2026 Half Year

Owner's equity attributable to parent company

Other equity instruments

Project

Advantages Minority shareholders’ equity Total owner’s equity capital Other capital reserves Less: treasury shares Other comprehensive income Surplus reserves General risk reserves Undistributed profits

First, perpetual debt savings

him

Stock equipment

Ending balance of the previous year (restated) 5,017,132,462.00 1 ,200,000,000.00 1 2,206,263,723.27 100,199,244.71 -98,836,032.94 1 ,268,373,086.66 936,378,999.06 12,793,367,986.48 16,758,899,448.05 49,981,380,427.87 Add: changes in accounting policies

Early error correction

Business combination under common control

Others

Opening balance of the current period 5,017,132,462.00 1 ,200,000,000.00 1 2,206,263,723.27 100,199,244.71 -98,836,032.94 1 ,268,373,086.66 936,378,999.06 12,793,367,986.48 16,758,899,448.05 49,981,380,427.87

3. Amount of increase or decrease in the current period (decrease

-3,949,143.89 - 283,155,659.80 26,650,533.82 2,133,440,573.09 577,361,651.67 2,450,347,954.89 (please fill in with "-")

(1) Total comprehensive income - 283,155,659.80 2,809,943,228.14 773,154,733.93 3,299,942,302.27

(2) Owner’s investment and capital reduction -3,949,143.89 221,028,255.80 217,079,111.91 1. Ordinary shares invested by owners 220,297,923.70 220,297,923.70 2. Other equity instrument holders invest capital

Ben

Share-based payments are included in owners’ equity

Amount

Others -3,949,143.89 730,332.10 -3,218,811.79

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

2026 half year

Owner's equity attributable to parent company

Other equity instruments

Project

him

Stock equipment

(3) Profit distribution 26,650,533.82 -676,502,655.05 -416,821,338.06 -1,066,673,459.29 1. Withdrawal from surplus reserve 26,650,533.82 -26,650,533.82 2. Withdraw general risk reserve

Distribution to owners (or shareholders) -649,852,121.23 -416,821,338.06 -1,066,673,459.29 4. Others

(4) Internal carryover of owners’ equity

1． Conversion of capital reserves to capital (or share capital)

Conversion of surplus reserves into capital (or share capital)
Surplus reserve to cover losses
Changes in defined benefit plans are carried forward and retained

savings income

Other comprehensive income carried forward to retained earnings
Others

(5) Special reserves

1． Extract this period

Used in this issue

(6) Others

Ending balance of the current period 5,017,132,462.00 1 ,200,000,000.00 1 2,202,314,579.38 100,199,244.71 -381,991,692.74 1 ,295,023,620.48 936,378,999.06 14,926,808,559.57 17,336,261,099.72 52,431,728,382.76

Legal representative: Li Feng Person in charge of accounting work: Lin Ying Person in charge of accounting department: Shi Qiyang

The full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. Preparation unit: Guangzhou Yuexiu Capital Holding Group Co., Ltd. Unit: Yuan 2025 semi-annual report (restated)

Owner’s equity attributable to the parent company Total owner’s equity Other equity instruments

Project

Advantages Minority interests

Share capital Other capital reserves Less: treasury shares Other comprehensive income Surplus reserves General risk reserves Undistributed profits

First, perpetual debt savings

him

Stock equipment

Ending balance of the previous year 5,017,132,462.00 1,200,000,000.00 12,227,795,980.63 100,199,244.71 14,585,793.78 1,118,701,153.22 853,294,264.13 10,839,135,934.35 14,738,453,703.01 45,908,900,046.41 Plus: changes in accounting policies -2,348,152.74 -4,702,485.38 -7,050,638.12 Early error correction

Business combination under common control

Others

Opening balance of the current period 5,017,132,462.00 1,200,000,000.00 12,227,795,980.63 100,199,244.71 14,585,793.78 1,118,701,153.22 850,946,111.39 10,834,433,448.97 14,738,453,703.01 45,901,849,408.29

3. Amount of increase or decrease in the current period (decrease

704,576.82 19,837,953.34 708,255,670.81 728,206,104.00 1,457,004,304.97 (please fill in with "-")

(1) Total comprehensive income 19,837,953.34 1,558,062,290.88 441,800,185.56 2,019,700,429.78

(2) Owner’s investment and capital reduction 704,576.82 700,414,615.50 701,119,192.32 1. Ordinary shares invested by owners 700,414,615.50 700,414,615.50 2. Other equity instrument holders invest capital

Ben

Share-based payments are included in owners’ equity

1,232,560.08 Amount of 1,232,560.08

Others -527,983.26 -527,983.26

(3) Profit distribution -849,806,620.07 -414,008,697.06 -1,263,815,317.13

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Owner's equity attributable to the parent company for the first half of 2025 (restated) Total owner's equity Other equity instruments Special

Project

Advantages Minority shareholders’ equity capital Other capital reserves Less: treasury shares Other comprehensive income Surplus reserves General risk reserves Undistributed profits first Perpetual debt reserves

him

Stock equipment

1． Withdrawal from surplus reserve

Withdraw general risk reserve
Distribution to owners (or shareholders) -849,806,620.07 -414,008,697.06 -1,263,815,317.13 4. Others

(4) Internal carryover of owners’ equity

1． Conversion of capital reserves to capital (or share capital)

Conversion of surplus reserves into capital (or share capital)
Surplus reserve to cover losses
Changes in defined benefit plans are carried forward and retained

savings income

Other comprehensive income carried forward to retained earnings
Others

(5) Special reserves

1． Extract this period

Used in this issue

(6) Others

Ending balance of the current period 5,017,132,462.00 1,200,000,000.00 12,228,500,557.45 100,199,244.71 34,423,747.12 1,118,701,153.22 850,946,111.39 11,542,689,119.78 15,466,659,807.01 47,358,853,713.26

Legal representative: Li Feng Person in charge of accounting work: Lin Ying Person in charge of accounting department: Shi Qiyang

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Statement of changes in owner’s equity of the parent company

Prepared by: Guangzhou Yuexiu Capital Holding Group Co., Ltd. Unit: Yuan 2026 Half Year

Other equity instruments

Project Advantages

Share capital Capital reserves Less: treasury shares Other comprehensive income Surplus reserves General risk reserves Undistributed profits Total owners’ equity first Perpetual bonds Others Reserves

Stock equipment

Ending balance of the previous year 5,017,132,462.00 1,200,000,000.00 1 2,361,065,179.29 100,199,244.71 64,792,913.14 1,268,373,086.66 1,993,047,960.33 21,804,212,356.71 plus: changes in accounting policies

Early error correction

Others

Opening balance of the current period 5,017,132,462.00 1,200,000,000.00 1 2,361,065,179.29 100,199,244.71 64,792,913.14 1,268,373,086.66 1,993,047,960.33 21,804,212,356.71

3. Amount of increase or decrease in the current period (decrease

-310,647.73 - 109,695,833.48 26,650,533.82 -409,997,316.81 -493,353,264.20 (please fill in the list with "-")

(1) Total comprehensive income - 109,695,833.48 266,505,338.24 156,809,504.76

(2) Owner’s investment and capital reduction -310,647.73 -310,647.73 1. Common stock invested by owners

Other equity instrument holders invest capital

Ben

Share-based payments are included in owners’ equity

Amount

Others -310,647.73 -310,647.73

(3) Profit distribution 26,650,533.82 -676,502,655.05 -649,852,121.23

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Other equity instruments for the first half of 2026 Special items Advantage items Capital reserves Less: treasury shares Other comprehensive income Surplus reserves General risk reserves Undistributed profits Total owners’ equity in advance Perpetual bonds Other reserves

Stock preparation 1. Withdrawal from surplus reserve 26,650,533.82 -26,650,533.82 2. Distribution to owners (or shareholders) -649,852,121.23 -649,852,121.23 3. Others

(4) Internal carryover of owners’ equity

1． Conversion of capital reserves into capital (or shares)

this)

Conversion of surplus reserves into capital (or shares)

this)

Surplus reserve to cover losses
Changes in defined benefit plans are carried forward and retained

savings income

Other comprehensive income carried forward to retained earnings
Others

(5) Special reserves

1． Extract this period

Used in this issue

(6) Others

Ending balance of the current period 5,017,132,462.00 1,200,000,000.00 1 2,360,754,531.56 100,199,244.71 -44,902,920.34 1,295,023,620.48 1,583,050,643.52 21,310,859,092.51

Legal representative: Li Feng Person in charge of accounting work: Lin Ying Person in charge of accounting department: Shi Qiyang

The full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. Prepared by: Guangzhou Yuexiu Capital Holding Group Co., Ltd. Unit: Yuan 2025 Semi-annual Report

Other equity instruments

Project Advantages

Stock equipment

Ending balance of the previous year 5,017,132,462.00 1,200,000,000.00 12,371,286,241.73 100,199,244.71 88,175,059.49 1,118,701,153.22 1,970,904,801.85 21,666,000,473.58 plus: changes in accounting policies

Early error correction

Others

Opening balance of the current period 5,017,132,462.00 1,200,000,000.00 12,371,286,241.73 100,199,244.71 88,175,059.49 1,118,701,153.22 1,970,904,801.85 21,666,000,473.58

3. Amount of increase or decrease in the current period (decrease by

1,119,883.82 4,997,613.80 -885,541,874.14 -879,424,376.52 (Fill in “-”)

(1) Total comprehensive income 4,997,613.80 -35,735,254.07 -30,737,640.27

(2) Owner’s investment and capital reduction 1,119,883.82 1,119,883.82 1. Common stock invested by owners

Other equity instrument holders invest capital

Ben

Share-based payments are included in owners’ equity

1,232,560.08 Amount of 1,232,560.08

Others -112,676.26 -112,676.26

(3) Profit distribution -849,806,620.07 -849,806,620.07 1. Withdrawal from surplus reserve

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Other equity instruments for the first half of 2025 Special items Advantage items Capital reserves Less: treasury shares Other comprehensive income Surplus reserves General risk reserves Undistributed profits Total owners’ equity in advance Perpetual bonds Other reserves

Stock preparation 2． Distribution to owners (or shareholders) -849,806,620.07 -849,806,620.07 3. Others

(4) Internal carryover of owners’ equity

1． Conversion of capital reserves into capital (or shares)

this)

Conversion of surplus reserves into capital (or shares)

this)

Surplus reserve to cover losses
Changes in defined benefit plans are carried forward and retained

savings income

Other comprehensive income carried forward to retained earnings
Others

(5) Special reserves

1． Extract this period

Used in this issue

(6) Others

Ending balance of the current period 5,017,132,462.00 1,200,000,000.00 12,372,406,125.55 100,199,244.71 93,172,673.29 1,118,701,153.22 1,085,362,927.71 20,786,576,097.06

Legal representative: Li Feng Person in charge of accounting work: Lin Ying Person in charge of accounting department: Shi Qiyang

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Notes to Financial Statements

1. Basic situation of the company

Company profile

Guangzhou Yuexiu Capital Holding Group Co., Ltd. (hereinafter referred to as the "Company" or "the Group" or the "Company") is a joint-stock company registered in Guangdong Province, with a unified social credit code of 914401011904817725. The RMB common A shares issued by the company have been listed on the Shenzhen Stock Exchange (stock code "000987").

The registered and headquarter address of the company is Unit B, Room 6301, No. 5, Zhujiang West Road, Tianhe District, Guangzhou.

The company's business nature and main operating activities include financial leasing business, non-performing asset management business, investment management business, futures brokerage business, new energy business, etc.

These financial statements and notes to the financial statements were approved by the 44th meeting of the tenth board of directors of the company on August 28, 2026.

Historical evolution

Our company was formerly known as Guangzhou Youyi Store, which was established in October 1959. Youyi Store expanded in 1978 and established Guangzhou Youyi Company.

On November 18, 1992, the Guangzhou Municipal Economic Structural Reform Commission issued "Sui Gai Gu Zi [1992] No. 14", with Guangzhou Friendship Company as the sponsor, and Guangzhou Friendship Store Co., Ltd. was established through targeted fundraising from internal employees of the company. The company completed industrial and commercial registration on December 24, 1992, and obtained the "Enterprise Legal Person Business License" with registration number 19048177. The company's total share capital at the time of establishment was 149,421,171 yuan.

After the resolution of the company's 1997 Annual General Meeting of Shareholders and the approval of the Guangzhou Economic Structural Reform Commission's "Sui Gai Gu Zi [1998] No. 6", the company implemented a profit distribution plan of "10 for 2 and 1 for 1", and the registered capital was changed to 179.3054 million yuan.

In April 1999, the Guangzhou Municipal State-owned Assets Administration issued Sui Guozi II [1999] No. 54, defining the company's 150.7454 million original state-owned legal person shares as state shares, and the equity was held by the Guangzhou Municipal State-owned Assets Administration.

In 2000, the company publicly issued 60 million ordinary shares to the public on the Shenzhen Stock Exchange and was listed for trading on July 18. The company's registered capital was changed to 239.3054 million yuan.

In January 2006, the company completed the share-trading reform. According to every 10 tradable shares, 3 shares of consideration paid by non-tradable shareholders can be obtained, and the company's registered capital remains unchanged.

In July 2008, the company transferred 119,652,702 shares to all shareholders according to the plan of converting capital reserve into 5 shares for every 10 shares, with a face value of 1 yuan per share, increasing the share capital by 119,652,701.54 yuan, and the company's registered capital was changed to 358,958,107.00 yuan.

In March 2016, the company non-publicly issued 1,123,595,502 ordinary shares to seven specific targets including the Guangzhou State-owned Assets Supervision and Administration Commission. After this issuance, the company's share capital increased from 358,958,107 shares to 1,482,553,609 shares.

In June 2016, the company distributed 5 bonus shares to all shareholders for every 10 shares, adding a total of 741,276,804 shares with a face value of 1 yuan per share, increasing the share capital by 741,276,804.0 yuan, and the company's registered capital was changed to 2,223,830,413.00 yuan.

In July 2016, the company was renamed "Guangzhou Yuexiu Financial Holding Group Co., Ltd." Starting from the next month, the company's securities abbreviation was changed from "Guangzhou Friendship" to "Yuexiu Financial Holdings", and the securities code "000987" remained unchanged.

In the second quarter of 2017, the company's industry was changed from "wholesale and retail industry-retail industry" to "financial industry-capital market services".

In October 2018, the company non-publicly issued 443,755,472 ordinary shares to six specific parties, including Guangzhou Hengyun and Guangzhou Chengqi, and 85,298,869 ordinary shares to Guangzhou Yuexiu Enterprise Group Co., Ltd. After this issuance, the company's total share capital changed to 2,752,884,754 shares.

In March 2019, the company transferred 100% equity of Guangzhou Youyi to Guangzhou Guangshang Capital Management Co., Ltd. to complete the transfer.

Full text of the 2026 Semi-Annual Report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. In January 2020, the company completed the transfer of 100% of the equity of Guangzhou Securities to CITIC Securities after divesting 99.03% of the shares of Guangzhou Futures and 24.01% of the shares of Golden Eagle Fund.

In the second quarter of 2020, the company's industry was changed from "Financial Industry-Capital Market Services" to "Financial Industry-Other Financial Industries".

In August 2021, the company issued shares to all shareholders based on the plan of converting capital reserve into 3.5 shares for every 10 shares. The total number of shares was increased by 963,509,663 shares, with a face value of 1 yuan per share, and the share capital was increased by 963,509,663.00 yuan. The company's registered capital was changed to 3,716,394,417.00 yuan.

In June 2022, the company transferred 1,300,738,045 shares to all shareholders based on the plan of converting capital reserve into 3.5 shares for every 10 shares, with a par value of 1 yuan per share, increasing the share capital by 1,300,738,045.0 yuan, and the company's registered capital was changed to 5,017,132,462.00 yuan.

In December 2022, the company was renamed "Guangzhou Yuexiu Capital Holding Group Co., Ltd.", the securities abbreviation was changed from "Yuexiu Financial Holdings" to "Yuexiu Capital", and the securities code "000987" remained unchanged.

2. Basis for preparation of financial statements

These financial statements are prepared in accordance with the Accounting Standards for Business Enterprises and their application guidelines, interpretations and other relevant regulations issued by the Ministry of Finance (collectively: "Accounting Standards for Business Enterprises"). In addition, the company also discloses relevant financial information in accordance with the China Securities Regulatory Commission's "Information Disclosure and Preparation Rules for Companies that Offer Securities to the Public No. 15 - General Provisions on Financial Reports (2023 Revision)".

These financial statements are presented on a going concern basis.

The Company's accounting is based on the accrual basis. Except for certain financial instruments, these financial statements are measured on the basis of historical cost. If an asset is impaired, corresponding impairment provisions will be made in accordance with relevant regulations.

3. Important accounting policies and accounting estimates

The Company determines financial instrument measurement, fair value measurement, long-term equity investment measurement and fixed asset depreciation recognition policies based on its own production and operation characteristics. For specific accounting policies, please refer to Note 3.11, Note 3.12, Note 3.14 and Note 3.16.

Statement on compliance with corporate accounting standards

This financial statement complies with the requirements of the Accounting Standards for Business Enterprises, and truly and completely reflects the company's consolidated and company financial status on June 30, 2026, as well as the consolidated and company operating results, consolidated and company cash flows and other relevant information from January to June 2026.

Accounting period

The company's accounting period adopts the Gregorian calendar year, that is, from January 1 to December 31 each year.

Business cycle

The company's operating cycle is 12 months.

Accounting standard currency

The Company and its domestic subsidiaries use RMB as their functional currency for accounting. The Company's overseas subsidiaries determine their recording currency based on the currency of the main economic environment in which they operate. The currency used by the Company in preparing these financial statements is RMB.

Determination method and selection basis of materiality criteria

The Company determines the importance of financial information from both the nature and amount of the project based on its specific environment. When judging the importance of the nature of a project, the company mainly considers factors such as whether the project is a daily activity in nature and whether it significantly affects the company's financial status, operating results and cash flow; when judging the project

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

When determining the importance of the size of an item, the Company considers the proportion of the amount of the item in the amount of directly related items such as total assets, total liabilities, total shareholders' equity, total operating income, total operating costs, net profit, total comprehensive income, or the amount of items listed separately in the respective statements.

Accounting treatment methods for business combinations under the same control and those not under the same control

Business combination under common control

For business mergers under common control, the assets and liabilities of the merged party acquired by the merging party during the merger shall be measured based on the book value of the merged party in the consolidated financial statements of the ultimate controlling party on the merger date, except for adjustments due to different accounting policies. The difference between the book value of the merger consideration and the book value of the net assets obtained in the merger is adjusted to the capital reserve. If the capital reserve is insufficient for offset, the retained earnings are adjusted.

The merger of enterprises under the same control is realized step by step through multiple transactions.

In individual financial statements, the share of the book value of the combined party's net assets in the ultimate controlling party's consolidated financial statements that should be enjoyed on the merger date calculated based on the shareholding ratio on the merger date is used as the initial investment cost of the investment; the difference between the initial investment cost and the book value of the investment held before the merger plus the book value of the new consideration paid on the merger date is adjusted to the capital reserve. If the capital reserve is insufficient for offset, the retained earnings are adjusted.

In the consolidated financial statements, the assets and liabilities of the merged party obtained by the combining party during the merger are measured according to the book value in the consolidated financial statements of the ultimate controlling party on the date of merger, except for adjustments due to different accounting policies. The difference between the book value of the investments held before the merger plus the book value of the new consideration paid on the date of merger and the book value of the net assets acquired in the merger is adjusted to the capital reserve. If the capital reserve is insufficient for offset, the retained earnings are adjusted. For long-term equity investments held by the merging party before acquiring control of the merged party, relevant profits and losses, other comprehensive income and other changes in owner's equity have been recognized between the date of acquisition of the original equity and the date when the merging party and the merged party are under the final control of the same party, whichever is later, to the merger date, and shall be offset against the opening retained earnings or current profits and losses of the comparative statement period respectively.

Business combination not under common control

For business combinations not under common control, the combination cost is the fair value of the assets paid, liabilities incurred or assumed, and equity securities issued to obtain control of the purchased party on the acquisition date. On the purchase date, the acquired assets, liabilities and contingent liabilities of the purchased party are recognized at fair value.

The difference between the merger cost and the fair value share of the acquiree's identifiable net assets obtained in the merger is recognized as goodwill, and subsequent measurement is carried out at cost less accumulated impairment reserves; the difference between the merger cost and the fair value share of the acquiree's identifiable net assets obtained in the merger is included in the current profit and loss after review.

The merger of enterprises not under common control is realized step by step through multiple transactions.

In individual financial statements, the sum of the book value of the equity investment in the purchased party held before the purchase date and the new investment cost on the purchase date is regarded as the initial investment cost of the investment. Other comprehensive income recognized due to equity method accounting for equity investments held before the date of purchase will not be processed on the date of purchase. When the investment is disposed of, the same basis as the investee's direct disposal of relevant assets or liabilities will be used for accounting treatment. The owner's equity recognized due to changes in the investee's other owner's equity other than net profit and loss, other comprehensive income and profit distribution will be transferred to the current profit and loss during the disposal period when the investment is disposed. If equity investments held before the acquisition date are measured at fair value, the cumulative changes in fair value originally included in other comprehensive income will be transferred to retained earnings when the cost method is used.

In the consolidated financial statements, the merger cost is the sum of the consideration paid on the acquisition date and the fair value on the acquisition date of the equity interests in the acquiree already held before the acquisition date. The equity of the purchased party that has been held before the purchase date will be remeasured according to the fair value of the equity on the purchase date, and the difference between the fair value and its book value will be included in the current income; the equity of the purchased party that has been held before the purchase date involves other comprehensive income and other ownership rights. Changes in profits are converted into current profits on the date of purchase, except for other comprehensive income arising from changes in the net liabilities or net assets of the defined benefit plan remeasured by the investee and other comprehensive income related to investments in non-trading equity instruments originally designated as measured at fair value and whose changes are included in other comprehensive income.

Handling of Transaction Costs in Business Combinations

Intermediary fees such as auditing, legal services, evaluation and consulting, and other related management fees incurred for business mergers are included in the current profit and loss when incurred. The transaction costs of equity securities or debt securities issued as consideration for the merger shall be included in the initial recognition amount of the equity securities or debt securities.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Judgment standards for control and preparation methods of consolidated financial statements

control criteria

The scope of consolidation in consolidated financial statements is determined based on control. Control means that the company has power over the invested unit, enjoys variable returns by participating in the relevant activities of the invested unit, and has the ability to use its power over the invested unit to affect its return amount. The Company will reassess when changes in relevant facts and circumstances result in changes in the relevant elements involved in the definition of control.

When judging whether to include a structured entity into the scope of consolidation, the Company evaluates whether to control the structured entity based on comprehensively considering all facts and circumstances, including assessing the purpose and design of the structured entity, identifying the type of variable returns, and whether it bears part or all of the return variability by participating in its related activities.

How to prepare consolidated financial statements

The consolidated financial statements are based on the financial statements of the Company and its subsidiaries, and are prepared by the Company based on other relevant information. When preparing consolidated financial statements, the accounting policies and accounting period requirements of the Company and its subsidiaries are consistent, and significant inter-company transactions and balances are eliminated.

Subsidiaries and businesses that are added due to business combinations under the same control during the reporting period are deemed to be included in the company's consolidation scope from the date they are both controlled by the ultimate controlling party, and their operating results and cash flows from the date they are both controlled by the ultimate controlling party are included in the consolidated income statement and consolidated cash flow statement respectively. For subsidiaries and businesses that are added due to business combinations not under common control during the reporting period, the income, expenses, and profits of the subsidiaries and businesses from the date of acquisition to the end of the reporting period are included in the consolidated income statement, and their cash flows are included in the consolidated cash flow statement.

The part of the subsidiary's shareholders' equity that is not owned by the company is listed separately as minority shareholders' equity under the shareholders' equity in the consolidated balance sheet; the share of the subsidiary's current net profit and loss that is minority shareholders' equity is listed as "minority shareholders' profits and losses" under the net profit item in the consolidated income statement. If the losses of a subsidiary shared by minority shareholders exceed the minority shareholders' share of the opening owner's equity of the subsidiary, the balance will still offset the minority shareholders' equity.

Purchase of minority shareholders' equity in subsidiaries

The difference between the cost of the newly acquired long-term equity investment due to the purchase of a minority stake and the share of the subsidiary's net assets calculated continuously from the date of purchase or merger based on the new shareholding ratio, as well as the difference between the disposal price obtained from partial disposal of the equity investment in the subsidiary without losing control and the share of the subsidiary's net assets continuously calculated from the date of purchase or merger corresponding to the disposal of the long-term equity investment, will be adjusted to the capital reserve in the consolidated balance sheet. If the capital reserve is insufficient for offset, the retained earnings will be adjusted.

Treatment of Loss of Control of Subsidiaries

If control of the original subsidiary is lost due to the disposal of part of the equity investment or other reasons, the remaining equity shall be remeasured according to its fair value on the date of loss of control; the sum of the consideration obtained for the disposal of the equity and the fair value of the remaining equity, minus the sum of the share of the book value of the original subsidiary's net assets calculated continuously from the date of purchase and goodwill calculated based on the original shareholding ratio, shall be included in the investment income in the current period when control is lost.

Other comprehensive income related to the equity investment of the original subsidiary shall be accounted for on the same basis as the original subsidiary's direct disposal of relevant assets or liabilities when control is lost. Other changes in owner's equity related to the original subsidiary that are accounted for under the equity method shall be transferred to the current profits and losses when control is lost.

Classification of joint arrangements and accounting treatment methods for joint operations

A joint arrangement refers to an arrangement that is jointly controlled by two or more parties. The Company's joint venture arrangements are divided into joint operations and joint ventures.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. (1) Joint operation

A joint operation refers to a joint arrangement in which the Company enjoys the relevant assets of the arrangement and assumes the relevant liabilities of the arrangement.

The company confirms the following items related to the interest share in joint operations, and performs accounting treatments in accordance with the relevant accounting standards for enterprises:

A. Recognize the assets held individually, and recognize the assets held jointly according to their shares;

B. Recognize the liabilities borne individually and recognize the liabilities borne jointly according to their shares;

C. Recognize the income generated from the sale of its share of joint operating output;

D. Recognize the income generated by the joint operation from the sale of output according to its share;

E. Recognize the expenses incurred individually, and recognize the expenses incurred by joint operations according to their share.

(2) Joint venture

A joint venture is a joint arrangement in which the Company only has rights to the net assets of the arrangement.

The Company accounts for investments in joint ventures in accordance with the provisions on equity method accounting for long-term equity investments.

Cash and cash equivalents

Cash refers to cash on hand and deposits that can be used for payment at any time. Cash equivalents refer to investments held by the Company that are short-term, highly liquid, easily convertible into known amounts of cash, and have little risk of value changes.

Foreign currency business and foreign currency statement conversion

(1) Foreign currency business

The company's foreign currency business is converted into the recording currency amount based on the spot exchange rate on the date of the transaction.

On the balance sheet date, foreign currency monetary items are converted using the spot exchange rate on the balance sheet date. The exchange difference arising from the difference between the spot exchange rate on the balance sheet date and the spot exchange rate at the time of initial recognition or the previous balance sheet date is included in the current profit and loss; foreign currency non-monetary items measured at historical cost are still converted using the spot exchange rate on the date of the transaction; Foreign currency non-monetary items measured at fair value are converted using the spot exchange rate on the date when the fair value is determined. The difference between the converted accounting functional currency amount and the original accounting functional currency amount is included in the current profit and loss or other comprehensive income according to the nature of the non-monetary item.

(2) Conversion of foreign currency financial statements

On the balance sheet date, when the company translates the foreign currency financial statements of its overseas subsidiaries, the asset and liability items in the balance sheet are translated using the spot exchange rate on the balance sheet date. Except for "undistributed profits", shareholders' equity items are translated using the spot exchange rate on the date of occurrence.

The income and expense items in the income statement are converted into the parent company's recording currency according to the average exchange rate during the period of the consolidated financial statements (calculated as: (spot exchange rate on January 1 + spot exchange rate on the last day of each month in N months)/(N+1)).

The resulting translation differences of foreign currency financial statements will be listed in the "other comprehensive income" item under the shareholders' equity item in the consolidated balance sheet when preparing the consolidated financial statements.

The full cash flow of Guangzhou Yuexiu Capital Holding Group Co., Ltd.'s 2026 semi-annual report is translated using the average exchange rate during the period of the consolidated financial statements. The impact of exchange rate changes on cash is regarded as an adjustment item and is reflected in the "Impact of exchange rate changes on cash and cash equivalents" separately in the cash flow statement.

Differences arising from the translation of financial statements are reflected in the "other comprehensive income" item under the shareholders' equity item in the balance sheet.

When an overseas operation is disposed of and control is lost, the translation difference of foreign currency statements listed under the shareholders' equity item in the balance sheet and related to the overseas operation shall be transferred to the current profit and loss of the disposal in full or in proportion to the disposal of the overseas operation.

Financial instruments

A financial instrument refers to a contract that forms a financial asset of one party and a financial liability or equity instrument of another party.

(1) Recognition and derecognition of financial instruments

The Company recognizes a financial asset or financial liability when it becomes a party to a financial instrument contract.

Financial assets shall be derecognized if they meet one of the following conditions:

①The contractual right to receive cash flows from the financial asset terminates;

②The financial asset has been transferred and meets the following conditions for derecognition of financial asset transfer.

If the current obligation of a financial liability has been discharged in whole or in part, the financial liability or part of it shall be derecognised. If the company (debtor) and its creditor sign an agreement to replace existing financial liabilities by assuming new financial liabilities, and the contract terms of the new financial liabilities are substantially different from the existing financial liabilities, the existing financial liabilities will be derecognised and the new financial liabilities will be recognized at the same time.

When financial assets are bought and sold in a regular manner, accounting recognition and derecognition will be carried out based on the transaction date.

(2) Classification and measurement of financial assets

Upon initial recognition, the Company divides financial assets into the following three categories based on the business model of managing financial assets and the contractual cash flow characteristics of financial assets: financial assets measured at amortized cost, financial assets measured at fair value with changes included in other comprehensive income, and financial assets measured at fair value with changes included in current profits and losses.

Financial assets are measured at fair value upon initial recognition. For financial assets measured at fair value and whose changes are included in the current profit and loss, the relevant transaction costs are directly included in the current profit and loss; for other types of financial assets, the relevant transaction costs are included in the initial recognition amount. For receivables arising from the sale of products or provision of services that do not include or take into account significant financing components, the amount of consideration that the company is expected to be entitled to receive shall be regarded as the initial recognition amount.

Financial assets measured at amortized cost

The Company will classify financial assets that meet the following conditions and are not designated as measured at fair value through profit or loss for the current period as financial assets measured at amortized cost:

The company’s business model for managing this financial asset is aimed at collecting contractual cash flows;

 The contractual terms of the financial asset stipulate that the cash flows generated on a specific date are solely payments of principal and interest based on the outstanding principal amount. After initial recognition, such financial assets are measured at amortized cost using the effective interest rate method. Gains or losses arising from financial assets that are measured at amortized cost and are not part of any hedging relationship are included in the current profit and loss when they are derecognized, amortized according to the effective interest method, or impairment is recognized.

Financial assets measured at fair value through other comprehensive income

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

The company's business model for managing the financial assets aims at both collecting contractual cash flows and selling the financial assets;

 The contractual terms of the financial asset stipulate that the cash flows generated on a specific date are solely payments of principal and interest based on the outstanding principal amount.

After initial recognition, such financial assets are subsequently measured at fair value. Interest, impairment losses or gains and exchange gains and losses calculated using the effective interest rate method are included in the current profit and loss, and other gains or losses are included in other comprehensive income. When derecognition is terminated, the accumulated gains or losses previously included in other comprehensive income will be transferred out of other comprehensive income and included in the current profit and loss.

Financial assets measured at fair value with changes included in current profits and losses

Except for the above-mentioned financial assets measured at amortized cost and at fair value with changes included in other comprehensive income, the Company classifies all remaining financial assets as financial assets measured at fair value with changes included in current profits and losses. At the time of initial recognition, in order to eliminate or significantly reduce accounting mismatches, the Company irrevocably designates some financial assets that should have been measured at amortized cost or at fair value through other comprehensive income as financial assets at fair value through profit or loss for the current period.

After initial recognition, such financial assets are subsequently measured at fair value, and the resulting gains or losses (including interest and dividend income) are included in the current profits and losses, unless the financial assets are part of a hedging relationship.

The business model for managing financial assets refers to how the company manages financial assets to generate cash flow. The business model determines whether the source of cash flow from the financial assets managed by the company is collection of contractual cash flow, sale of financial assets or both. The Company determines the business model for managing financial assets based on objective facts and specific business objectives for managing financial assets determined by key management personnel.

The Company evaluates the contractual cash flow characteristics of financial assets to determine whether the contractual cash flows generated by the relevant financial assets on a specific date are only payments of principal and interest based on the outstanding principal amount. Among them, principal refers to the fair value of the financial asset at the time of initial recognition; interest includes consideration for the time value of money, the credit risk associated with the outstanding principal amount in a specific period, and other basic lending risks, costs and profits. In addition, the Company evaluates contract terms that may cause changes in the time distribution or amount of contractual cash flows of financial assets to determine whether they meet the requirements of the above contractual cash flow characteristics.

Only when the company changes its business model for managing financial assets, all affected related financial assets will be reclassified on the first day of the first reporting period after the change in business model. Otherwise, financial assets shall not be reclassified after initial recognition.

Financial assets are measured at fair value upon initial recognition. For financial assets measured at fair value and whose changes are included in the current profit and loss, the relevant transaction costs are directly included in the current profit and loss; for other types of financial assets, the relevant transaction costs are included in the initial recognition amount. For accounts receivable arising from the sale of products or provision of services that do not include or take into account significant financing components, the amount of consideration that the company is expected to be entitled to receive shall be regarded as the initial recognition amount.

(3) Classification and measurement of financial liabilities

The Company's financial liabilities are classified upon initial recognition into: financial liabilities measured at fair value with changes included in current profits and losses, and financial liabilities measured at amortized cost. For financial liabilities that are not classified as measured at fair value and whose changes are included in current profits and losses, relevant transaction costs are included in their initial recognition amount.

Financial liabilities measured at fair value through profit or loss for the current period

Financial liabilities at fair value through profit or loss include trading financial liabilities and financial liabilities designated as fair value through profit or loss upon initial recognition. For such financial liabilities, subsequent measurement is carried out at fair value, and gains or losses arising from changes in fair value, as well as dividends and interest expenses related to such financial liabilities, are included in the current profits and losses.

Financial liabilities measured at amortized cost

Other financial liabilities adopt the actual interest rate method and are subsequently measured at amortized cost. Gains or losses arising from derecognition or amortization are included in the current profits and losses.

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 Semi-annual Report Full Text Financial Guarantee Contract

Financial guarantee contracts do not belong to financial liabilities designated as measured at fair value with changes included in current profits and losses. They are measured at fair value upon initial recognition, and are subsequently measured at the higher of the loss provision for estimated liabilities determined using the expected credit loss model and the balance of the initial recognition amount minus accumulated amortization.

The difference between financial liabilities and equity instruments

Financial liabilities refer to liabilities that meet one of the following conditions:

①Contractual obligation to deliver cash or other financial assets to other parties.

② Contractual obligations to exchange financial assets or financial liabilities with other parties under potentially adverse conditions.

③ Non-derivative contracts that must or can be settled with the enterprise's own equity instruments in the future, and the enterprise will deliver a variable number of its own equity instruments according to the contract. ④ Derivative contracts that must or can be settled with the enterprise's own equity instruments in the future, except for derivative contracts that exchange a fixed number of its own equity instruments for a fixed amount of cash or other financial assets.

Equity instruments refer to contracts that prove ownership of the remaining equity in the assets of an enterprise after deducting all liabilities.

If the Company cannot unconditionally avoid delivering cash or other financial assets to fulfill a contractual obligation, the contractual obligation meets the definition of a financial liability. If a financial instrument must or can be settled with the company's own equity instruments, it is necessary to consider whether the company's own equity instruments used to settle the instrument are used as a substitute for cash or other financial assets, or to enable the holder of the instrument to enjoy the remaining interest in the issuer's assets after deducting all liabilities. If it is the former, the instrument is the company's financial liability; if it is the latter, the instrument is the company's equity instrument.

(4) Derivative financial instruments and embedded derivatives

The Company's derivative financial instruments include commodity futures contracts, commodity options contracts, etc. The derivative transaction contract is initially measured at the fair value on the date when the contract is signed, and is subsequently measured at its fair value. Derivative financial instruments with a positive fair value are recognized as an asset and those with a negative fair value are recognized as a liability. Any gains or losses arising from changes in fair value that do not comply with the hedging accounting regulations are directly included in the current profits and losses.

For hybrid instruments containing embedded derivatives, such as if the main contract is a financial asset, the relevant provisions on the classification of financial assets shall apply to the hybrid instrument as a whole. If the main contract is not a financial asset, and the hybrid instrument is not measured at fair value and its changes are included in the current profit and loss for accounting treatment, and the embedded derivative is not closely related to the main contract in terms of economic characteristics and risks, and the conditions are the same as the embedded derivative, and the stand-alone instrument meets the definition of a derivative, the embedded derivative is separated from the hybrid instrument and treated as a separate derivative financial instrument. If the embedded derivative cannot be measured separately at the time of acquisition or subsequent balance sheet dates, the hybrid instrument as a whole is designated as a financial asset or financial liability at fair value through profit or loss for the current period.

(5) Fair value of financial instruments

Please refer to Note 3.12 for the method of determining the fair value of financial assets and financial liabilities.

(6) Impairment of financial assets

Based on expected credit losses, the company performs impairment accounting treatment on the following items and recognizes loss provisions:

Financial assets measured at amortized cost;

Receivables and investments in debt instruments measured at fair value through other comprehensive income;

Full text of Guangzhou Yuexiu Capital Holding Group Co., Ltd.’s 2026 Semi-Annual Report 　 Contract assets as defined in “Accounting Standards for Business Enterprises No. 14 – Revenue”;

Lease receivables;

▪ Financial guarantee contracts (except those formed by measuring at fair value through current profits and losses, transferring financial assets that do not meet the conditions for derecognition, or continuing to be involved in the transferred financial assets).

Measurement of expected credit losses

Expected credit losses refer to the weighted average of the credit losses of financial instruments with the risk of default as the weight. Credit loss refers to the difference between all contractual cash flows receivable under the contract and all cash flows expected to be received by the company, discounted at the original actual interest rate, that is, the present value of all cash shortfalls.

The company considers reasonable and well-founded information about past events, current conditions and predictions of future economic conditions, weights the risk of default, calculates the probability-weighted amount of the present value of the difference between the cash flow receivable in the contract and the cash flow expected to be received, and recognizes expected credit losses.

The Company measures the expected credit losses of financial instruments at different stages respectively. If the credit risk of a financial instrument has not increased significantly since initial recognition, it is in the first stage, and the Company will measure loss provisions based on the expected credit losses within the next 12 months; if the credit risk of a financial instrument has increased significantly since initial recognition but no credit impairment has occurred, it is in the second stage, and the Company will measure loss provisions based on the expected credit losses throughout the entire duration of the instrument; if a financial instrument has experienced credit impairment since initial recognition, it is in the third stage, and the Company will measure loss provisions based on the expected credit losses throughout the entire duration of the instrument.

For financial instruments with low credit risk on the balance sheet date, the company assumes that its credit risk has not increased significantly since initial recognition, and measures loss provisions based on expected credit losses within the next 12 months.

Lifetime expected credit losses refer to the expected credit losses caused by all possible default events that may occur during the entire expected life of a financial instrument. Expected credit losses within the next 12 months refer to the expected credit losses caused by default events on financial instruments that may occur within 12 months after the balance sheet date (if the expected duration of the financial instrument is less than 12 months, the expected duration), and are part of the expected credit losses throughout the duration.

When measuring expected credit losses, the maximum period that the company needs to consider is the longest contract period for which the enterprise faces credit risk (including consideration of renewal options). For financial instruments in the first and second stages and with lower credit risk, the company calculates interest income based on its book balance before impairment provisions and actual interest rate. For financial instruments in the third stage, interest income is calculated based on its book balance minus the amortized cost and actual interest rate after impairment provisions have been made. For accounts receivable, other receivables, contract assets and other receivables, if the credit risk characteristics of a certain customer are significantly different from those of other customers in the portfolio, or the credit risk characteristics of the customer change significantly, the company will make a separate provision for bad debts for the receivables. In addition to the receivables for which bad debt provisions are made individually, the Company divides the receivables into combinations based on credit risk characteristics and calculates bad debt provisions on a combination basis.

Accounts receivable and contract assets

For accounts receivable and contract assets, regardless of whether there is a significant financing component, the Company always measures its loss provisions at an amount equivalent to the expected credit losses during the entire duration.

When a single financial asset or contract asset cannot assess the expected credit loss information at a reasonable cost, the company divides the accounts receivable and contract assets into combinations based on the credit risk characteristics, and calculates the expected credit losses on the basis of the combination. The basis for determining the combination is as follows:

A. Accounts receivable

Accounts receivable portfolio 1: aging portfolio

Accounts receivable portfolio 2: Related party portfolio within the group (within the scope of consolidation of the group)

B. Contract assets

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 Semi-annual Report Full Text Contract Asset Portfolio 1: Aging Portfolio

For contract assets divided into portfolios, the Company refers to historical credit loss experience, combines current conditions and predictions of future economic conditions, and calculates expected credit losses through default risk exposure and the expected credit loss rate throughout the duration.

For accounts receivable divided into portfolios, the Company refers to historical credit loss experience, combined with current conditions and predictions of future economic conditions, prepares a comparison table between the aging of accounts receivable and the expected credit loss rate for the entire duration, and calculates expected credit losses.

The aging of accounts receivable and contract assets is calculated from the date of confirmation.

Other receivables

The company divides other receivables into several combinations based on credit risk characteristics, and calculates expected credit losses on the basis of the combinations. The basis for determining the combinations is as follows: Other receivables combination 1: Aging combination

Other receivables portfolio 2: Related party portfolio within the group (within the scope of consolidation of the group)

For other receivables classified into portfolios, the Company calculates expected credit losses through default risk exposure and expected credit loss rate within the next 12 months or throughout the duration. For other receivables grouped by aging, the aging is calculated from the date of confirmation.

long-term receivables

The company's long-term receivables include lease receivables, interest receivables and other receivables.

The company divides lease receivables and interest receivables into several combinations based on credit risk characteristics, and calculates expected credit losses based on the combinations. The basis for determining the combinations is as follows:

Long-term receivables portfolio 1: Lease receivables portfolio

For lease receivables and interest receivables, the Company refers to historical credit loss experience, combines current conditions and predictions of future economic conditions, and calculates expected credit losses through default risk exposure and the expected credit loss rate throughout the duration.

Debt investment, other debt investment

For debt investments and other debt investments, the Company calculates expected credit losses based on the nature of the investment, various types of counterparties and risk exposures, and through the default risk exposure and the expected credit loss rate within the next 12 months or throughout the duration.

Assessment of significant increase in credit risk

The Company compares the risk of default of a financial instrument on the balance sheet date with the risk of default on the initial recognition date to determine the relative change in the default risk of the financial instrument during its expected duration to assess whether the credit risk of the financial instrument has increased significantly since initial recognition.

When determining whether credit risk has increased significantly since initial recognition, the Company considers reasonable and supportable information, including forward-looking information, that is available without unnecessary additional cost or effort. Information considered by the Company includes:

The debtor fails to pay the principal and interest on the due date of the contract;

Ÿ An actual or expected significant deterioration in the external or internal credit rating (if any) of the financial instrument;

Ÿ The actual or expected serious deterioration in the debtor’s operating results;

Full text of Guangzhou Yuexiu Capital Holding Group Co., Ltd.'s 2026 Semi-Annual Report 　Existing or expected changes in technology, market, economic or legal environment will have a significant adverse impact on the debtor's ability to repay the company.

Depending on the nature of the financial instrument, the Company evaluates whether the credit risk has increased significantly on the basis of a single financial instrument or a combination of financial instruments. When evaluating based on a portfolio of financial instruments, the Company may classify financial instruments based on common credit risk characteristics, such as overdue information and credit risk ratings.

Credit-impaired financial assets

The Company assesses whether credit impairment has occurred on financial assets measured at amortized cost and debt investments measured at fair value through other comprehensive income on the balance sheet date. When one or more events that have an adverse impact on the expected future cash flows of a financial asset occur, the financial asset becomes a credit-impaired financial asset. Evidence that a financial asset has been credit-impaired includes the following observable information:

The issuer or debtor encounters significant financial difficulties;

 The debtor breaches the contract, such as default or overdue payment of interest or principal;

Ÿ The Company grants concessions to the debtor that the debtor would not make under any other circumstances due to economic or contractual considerations related to the debtor's financial difficulties;

 It is likely that the debtor will go bankrupt or undergo other financial reorganization;

 Financial difficulties of the issuer or debtor result in the disappearance of an active market for the financial asset.

Presentation of expected credit loss provisions

In order to reflect changes in the credit risk of financial instruments since initial recognition, the company remeasures expected credit losses on each balance sheet date, and the resulting increase or reversal of loss provisions shall be included in the current profit and loss as impairment losses or gains. For financial assets measured at amortized cost, the loss provision is deducted from the book value of the financial asset listed in the balance sheet; for debt investments measured at fair value with changes included in other comprehensive income, the company recognizes its loss provision in other comprehensive income and does not deduct the book value of the financial asset.

Write off

If the company no longer reasonably expects that the contractual cash flows of a financial asset can be fully or partially recovered, it will directly write down the book balance of the financial asset. Such a write-down constitutes the derecognition of the relevant financial asset. This situation typically occurs when the Company determines that the debtor does not have the assets or sources of income to generate sufficient cash flow to repay the amount that will be written down. However, in accordance with the Company's procedures for recovering due amounts, financial assets that are written down may still be affected by execution activities.

If a financial asset that has been written down is later recovered, the reversal of the impairment loss will be included in the profit and loss of the current period of recovery.

(7) Transfer of financial assets

The transfer of financial assets refers to the transfer or delivery of financial assets to another party (the transfer-in party) other than the issuer of the financial assets.

If the Company has transferred substantially all risks and rewards of ownership of a financial asset to the transferee, the financial asset shall be derecognized; if the Company has retained substantially all risks and rewards of ownership of the financial asset, the financial asset shall not be derecognised.

If the company neither transfers nor retains substantially all the risks and rewards of ownership of a financial asset, the following situations will be dealt with: if it gives up control of the financial asset, it will terminate the recognition of the financial asset and recognize the resulting assets and liabilities; if it does not give up control of the financial asset, the relevant financial assets will be recognized according to the extent of its continued involvement in the transferred financial assets, and the relevant liabilities will be recognized accordingly.

(8) Offset of financial assets and financial liabilities

When the company has the legal right to offset the recognized financial assets and financial liabilities, and the legal right is currently enforceable, and the company plans to settle on a net basis or realize the financial assets and pay off the financial liabilities at the same time, the financial assets and financial liabilities will be listed in the balance sheet at the amount after offsetting each other. Otherwise, financial assets and financial liabilities are presented separately in the balance sheet and are not offset against each other.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Fair value measurement

Fair value refers to the price that can be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The Company measures relevant assets or liabilities at fair value and assumes that an orderly transaction to sell assets or transfer liabilities is conducted in the main market for the relevant assets or liabilities; if there is no main market, the Company assumes that the transaction is conducted in the most favorable market for the relevant assets or liabilities. The main market (or the most advantageous market) is the trading market that the company can enter on the measurement date. The Company adopts the assumptions used by market participants to maximize their economic interests when pricing the asset or liability.

For financial assets or financial liabilities that have an active market, the Company determines their fair value using quotes in the active market. If there is no active market for a financial instrument, the Company uses valuation techniques to determine its fair value.

When measuring non-financial assets at fair value, the ability of market participants to use the asset for its best purpose to generate economic benefits is considered, or the ability to sell the asset to other market participants who can use it for its best purpose to generate economic benefits.

The Company adopts valuation techniques that are applicable under the current circumstances and supported by sufficient available data and other information, giving priority to the use of relevant observable input values. Only when observable input values cannot be obtained or are impractical to obtain, unobservable input values will be used.

For assets and liabilities measured or disclosed at fair value in financial statements, the fair value level to which they belong is determined based on the lowest level input value that is significant to the overall fair value measurement: the first level input value is the unadjusted quoted price in the active market for the same asset or liability that can be obtained on the measurement date; the second level input value is the directly or indirectly observable input value of the relevant assets or liabilities in addition to the first level input value; the third level input value is the unobservable input value of the relevant asset or liability.

At each balance sheet date, the Company reassesses the assets and liabilities recognized in the financial statements that continue to be measured at fair value to determine whether there is a transition between fair value measurement levels.

Inventory

(1) Classification of inventory

The company's inventory is stock goods.

(2) Valuation method for issued inventory

The Company's inventories are valued at actual cost when acquired. Inventory goods are priced using the weighted average method when shipped.

(3) Basis for determining net realizable value of inventories and method of accruing inventory depreciation reserves

On the balance sheet date, inventories are measured at the lower of cost and net realizable value. When the net realizable value is lower than the cost, a provision for inventory depreciation is made.

Net realizable value is the estimated selling price of the inventory minus the estimated costs to be incurred upon completion, estimated selling expenses and related taxes. When determining the net realizable value of inventories, it is based on the conclusive evidence obtained and the purpose of holding the inventories and the impact of events after the balance sheet date are also considered.

The Company usually accrues inventory depreciation provisions according to categories. On the balance sheet date, if the factors that previously caused the inventory value to be written down have disappeared, the inventory depreciation provisions shall be reversed within the amount originally accrued.

(4) Inventory inventory system

The company's inventory inventory system adopts the perpetual inventory system.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

(5) The inventories of the hedged items are measured at fair value, and the remaining inventories are valued at the actual cost at the time of acquisition.

Long-term equity investment

Long-term equity investments include equity investments in subsidiaries, joint ventures and associates. If the company can exert significant influence on the invested unit, it is an associate of the company.

(1) Determination of initial investment cost

Long-term equity investments resulting from business combinations: For long-term equity investments obtained from business combinations under common control, the share of the book value of the merged party's owner's equity in the final controlling party's consolidated financial statements on the date of merger shall be regarded as the investment cost; for long-term equity investments obtained from business combinations not under common control, the investment cost of long-term equity investments shall be based on the merger cost.

For long-term equity investments obtained by other means: for long-term equity investments obtained by paying cash, the actual purchase price paid will be used as the initial investment cost; for long-term equity investments obtained by issuing equity securities, the fair value of the equity securities issued will be used as the initial investment cost.

(2) Subsequent measurement and profit and loss recognition methods

Investments in subsidiaries are accounted for using the cost method, unless the investment qualifies as held for sale; investments in associates and joint ventures are accounted for using the equity method.

For long-term equity investments accounted for using the cost method, in addition to the actual price paid when acquiring the investment or the cash dividends or profits that have been declared but not yet distributed included in the consideration, the cash dividends or profits declared to be distributed by the investee shall be recognized as investment income and included in the current profit and loss.

For long-term equity investments accounted for using the equity method, if the initial investment cost is greater than the fair value share of the investee's identifiable net assets that should be enjoyed at the time of investment, the investment cost of the long-term equity investment will not be adjusted; if the initial investment cost is less than the fair value share of the investee's identifiable net assets that should be shared at the time of investment, the book value of the long-term equity investment will be adjusted, and the difference will be included in the current profit and loss of the investment.

When accounting using the equity method, investment income and other comprehensive income are recognized respectively according to the share of net profits and losses and other comprehensive income realized by the investee that should be enjoyed or shared, and the book value of long-term equity investments is adjusted at the same time; according to the profit or cash declared by the investee to be distributed The portion to be enjoyed in the calculation of dividends will be reduced accordingly and the book value of the long-term equity investment will be reduced accordingly; other changes in the owner's equity of the investee other than net profits and losses, other comprehensive income and profit distribution, the book value of the long-term equity investment will be adjusted and included in the capital reserve (other capital reserve). When confirming the share of the investee's net profits and losses, it is based on the fair value of the investee's identifiable assets when the investment is obtained, and in accordance with the company's accounting policies and accounting periods, the net profit of the investee is adjusted and recognized.

If the investee is able to exert significant influence or implement joint control due to additional investment or other reasons but does not constitute control, on the conversion date, the sum of the fair value of the original equity plus the new investment cost will be used as the initial investment cost to be accounted for under the equity method. If the original equity is classified as a non-trading equity instrument investment measured at fair value and its changes are included in other comprehensive income, the related cumulative fair value changes originally included in other comprehensive income will be transferred to retained earnings when it is accounted for under the equity method.

If the joint control or significant influence on the invested unit is lost due to the disposal of part of the equity investment or other reasons, the remaining equity after disposal will be accounted for in accordance with the "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments" on the date of loss of joint control or significant influence, and the difference between the fair value and the book value shall be included in the current profit and loss. Other comprehensive income recognized due to the use of the equity method for accounting in the original equity investment will be accounted for on the same basis as the investee's direct disposal of relevant assets or liabilities when the equity method is terminated; other changes in owner's equity related to the original equity investment will be transferred to the current profit and loss.

If control of the invested unit is lost due to the disposal of part of the equity investment or other reasons, and the remaining equity after disposal can jointly control or exert significant influence on the invested unit, it shall be accounted for according to the equity method, and the remaining equity shall be deemed to have been accounted for using the equity method since the time of acquisition and adjusted; after disposal If the remaining equity cannot jointly control or exert significant influence on the invested unit, the accounting treatment shall be carried out in accordance with the relevant provisions of "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments", and the difference between its fair value and book value on the date of loss of control shall be included in the current profit and loss.

If the company's shareholding ratio decreases due to capital increase by other investors and thus loses control but can exercise joint control or exert significant influence on the investee, the company's share of the investee's net assets increased due to the capital increase and share expansion shall be confirmed based on the new shareholding ratio, and the difference between the original book value of the long-term equity investment corresponding to the decrease in shareholding ratio that should be carried forward shall be included in the current profit and loss; then, according to the new shareholding ratio, it will be deemed to have been adjusted using the equity method since the investment was obtained.

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 Semi-annual Report Full Text Unrealized internal transaction gains and losses between the company and its associates and joint ventures are calculated based on the shareholding ratio attributable to the company, and investment gains and losses are recognized on an offset basis. However, if the unrealized internal transaction losses between the company and the investee are impairment losses on the transferred assets, they will not be offset.

(3) Basis for determining joint control and significant influence on the invested unit

Joint control refers to the shared control over an arrangement in accordance with relevant agreements, and the relevant activities of the arrangement must be decided only with the unanimous consent of the parties sharing control rights. When judging whether there is joint control, first judge whether the arrangement is collectively controlled by all participants or a combination of participants, and secondly whether decisions on activities related to the arrangement must be unanimously agreed upon by the participants who collectively control the arrangement. If all participants or a group of participants must act in concert to decide the relevant activities of an arrangement, then all participants or a group of participants are considered to collectively control the arrangement; if there are two or more parties that can collectively control an arrangement, it does not constitute joint control. When determining whether joint control exists, the protective rights enjoyed are not taken into account.

Significant influence means that the investor has the power to participate in decision-making on the financial and operating policies of the invested unit, but it is not able to control or jointly control the formulation of these policies with other parties. When determining whether it can exert significant influence on the invested unit, the investor's direct or indirect holding of voting shares of the invested unit and the impact of the current executable potential voting rights held by the investor and other parties are assumed to be converted into equity in the invested unit, including the impact of current convertible warrants, share options and convertible corporate bonds issued by the invested unit.

When the company directly or indirectly through subsidiaries owns more than 20% (inclusive) but less than 50% of the voting shares of the invested unit, it is generally considered to have a significant influence on the invested unit, unless there is clear evidence that it cannot participate in the production and operation decisions of the invested unit. policy and does not have a significant impact; when the company owns less than 20% (exclusive) of the voting shares of the invested unit, it is generally not considered to have a significant impact on the invested unit, unless there is clear evidence that it can participate in the invested unit's production and operation decisions and have a significant impact.

(4) Impairment testing method and impairment provision accrual method

For investments in subsidiaries, associates and joint ventures, please refer to Note 3.21 for the method of calculating asset impairment.

Investment real estate

Investment property is property held to earn rentals or for capital appreciation, or both. The company's investment real estate includes leased land use rights, land use rights held and prepared to be transferred after appreciation, and leased buildings.

The Company's investment real estate is initially measured based on the cost when acquired, and depreciation or amortization is provided periodically in accordance with the relevant regulations on fixed assets or intangible assets. For investment real estate that adopts the cost model for subsequent measurement, please refer to Note 3.21 for the method of accruing asset impairment.

The difference between the disposal income from the sale, transfer, scrapping or damage of investment real estate after deducting its book value and relevant taxes is included in the current profit and loss.

Fixed assets

(1) Fixed assets recognition conditions

The company's fixed assets refer to tangible assets held for the production of goods, provision of labor services, leasing or operation and management, and with a service life of more than one accounting year. A fixed asset can only be recognized when the economic benefits related to the fixed asset are likely to flow into the enterprise and the cost of the fixed asset can be measured reliably. The company's fixed assets are initially measured based on the actual cost when acquired.

Subsequent expenditures related to fixed assets are included in the cost of fixed assets when the economic benefits related to them are likely to flow into the company and their costs can be measured reliably. Daily repair costs of fixed assets that do not meet the conditions for subsequent expenditures for capitalization of fixed assets are included in the current profit and loss or included in the cost of related assets according to the beneficiary objects when incurred. For the replaced part, its book value is derecognized.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. (2) Depreciation methods of various fixed assets

The Company uses the straight-line method to calculate depreciation. Depreciation begins when a fixed asset reaches its intended usable condition, and depreciation stops when it is derecognized or classified as a non-current asset held for sale. Without considering impairment provisions, the Company determines the annual depreciation rates of various types of fixed assets based on fixed asset category, estimated service life and estimated residual value as follows:

Category Service life (years) Residual value rate % Annual depreciation rate % Houses and buildings 30-35 3.00 2.77-3.23 Machinery and equipment 18-20 0-10 4.50-5.50 Transportation equipment 4-6 3.00 16.17-24.25 Office and other general equipment 5 3.00 19.40 Electronic equipment 3-5 3.00 19.40-32.33 Among them, for fixed assets for which impairment provisions have been made, the depreciation rate shall be calculated and determined by deducting the accumulated amount of fixed asset impairment provisions for which provision has been made.

(3) Please refer to Note 3.21 for the impairment testing method and impairment provision accrual method of fixed assets.

(4) At the end of each year, the company reviews the service life, estimated net residual value and depreciation method of fixed assets.

If there is a difference between the estimated useful life and the original estimate, the useful life of the fixed assets will be adjusted; if there is a difference between the expected net residual value and the original estimate, the estimated net residual value will be adjusted.

(5) Fixed asset disposal

When a fixed asset is disposed of or no economic benefits are expected to be generated through use or disposal, the fixed asset is derecognised. The amount of disposal income from the sale, transfer, scrapping or damage of fixed assets after deducting their book value and related taxes is included in the current profit and loss.

Projects under construction

The cost of the company's construction-in-progress is determined based on actual project expenditures, including various necessary project expenditures incurred during the construction period, borrowing costs that should be capitalized before the project reaches its intended usable state, and other related expenses.

Construction in progress is transferred to fixed assets when it reaches the intended usable state.

Please refer to Note 3.21 for the method of accruing asset impairment for projects under construction.

Borrowing costs

(1) Recognition principles for capitalization of borrowing costs

If the borrowing costs incurred by the company can be directly attributed to the acquisition, construction or production of assets that meet the capitalization conditions, they will be capitalized and included in the cost of the relevant assets; other borrowing costs will be recognized as expenses based on the amount incurred when they are incurred and included in the current profits and losses. Borrowing costs will begin to be capitalized if they meet the following conditions at the same time:

① Asset expenditures have occurred. Asset expenditures include expenditures in the form of cash payments, transfers of non-cash assets or interest-bearing debts for the acquisition, construction or production of assets that meet capitalization conditions;

②The borrowing costs have been incurred;

③The necessary purchase, construction or production activities to bring the assets to the intended usable or salable state have begun.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. (2) Capitalization period of borrowing costs

When the assets purchased, constructed or produced by the company that meet the capitalization conditions reach the intended usable or salable state, the capitalization of borrowing costs will cease. Borrowing costs incurred after the assets that meet the capitalization conditions reach the intended usable or salable state are recognized as expenses based on the amount incurred when incurred and included in the current profit and loss. If an asset that meets the capitalization conditions is abnormally interrupted during the acquisition, construction or production process, and the interruption lasts for more than 3 months, the capitalization of borrowing costs will be suspended; the borrowing costs during the normal interruption period will continue to be capitalized.

(3) Calculation method of capitalization rate of borrowing costs and capitalization amount

The interest expenses actually incurred on special borrowings in the current period shall be capitalized after deducting the interest income from unused borrowing funds deposited in banks or investment income from temporary investments; the capitalization amount of general borrowings shall be determined based on the weighted average of asset disbursements exceeding the part of special borrowings multiplied by the capitalization rate of the occupied general borrowings. The capitalization rate is calculated and determined based on the weighted average interest rate of general borrowings.

During the capitalization period, all exchange differences on special foreign currency borrowings are capitalized; exchange differences on general foreign currency borrowings are included in the current profits and losses.

Intangible assets

The company's intangible assets mainly include software and land use rights.

Intangible assets are initially measured based on cost, and their service life is analyzed and judged when the intangible assets are acquired. If the service life is limited, from the time the intangible asset becomes available for use, an amortization method that can reflect the expected realization method of the economic benefits related to the asset will be used and amortized over the expected service life; if the expected realization method cannot be reliably determined, the straight-line method will be used for amortization; intangible assets with indefinite service life will not be amortized.

The amortization method of intangible assets with limited useful life is as follows:

service life

Category Useful life Amortization method Remarks

Determination basis

Software 2-5 years Estimated useful life Straight-line method

Land use rights 20-50 years Remaining useful life Straight-line method

At the end of each year, the company reviews the useful life and amortization method of intangible assets with limited service life. If it is different from the previous estimate, the original estimate is adjusted and treated as a change in accounting estimate.

If it is expected that an intangible asset will no longer bring future economic benefits to the enterprise on the balance sheet date, all the book value of the intangible asset will be transferred to the current profit and loss. Please refer to Note 3.21 for the method of accruing asset impairment for intangible assets.

R&D expenditures

The company's R&D expenditures are expenditures directly related to the company's R&D activities, including employee salaries of R&D personnel, etc. Among them, the wages of R&D personnel are included in R&D expenditures based on project working hours.

The Company divides the expenditures on internal research and development projects into expenditures in the research phase and expenditures in the development phase.

Expenditures in the research stage are included in the current profits and losses when incurred.

Expenditures in the development stage can only be capitalized if they meet the following conditions: it is technically feasible to complete the intangible asset so that it can be used or sold; there is the intention to complete the intangible asset and use or sell it; the way in which the intangible asset generates economic benefits includes being able to prove that there is a market for the products produced using the intangible asset or that the intangible asset itself has a market; if the intangible asset will be used internally, it can prove its usefulness; there are sufficient technical, financial resources and other resources

The full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. is supported in order to complete the development of the intangible assets and have the ability to use or sell the intangible assets; the expenditures attributable to the development stage of the intangible assets can be measured reliably. Development expenditures that do not meet the above conditions are included in the current profit and loss.

The company's research and development projects will enter the development stage after meeting the above conditions and passing technical feasibility and economic feasibility studies to form a project.

Capitalized expenditures in the development phase are listed as development expenditures on the balance sheet and are converted into intangible assets from the date the project reaches its intended use.

Asset impairment

The asset impairment of long-term equity investments in subsidiaries, associates and joint ventures, investment real estate, fixed assets, projects under construction, right-of-use assets, intangible assets, etc. (except inventories, deferred income tax assets, and financial assets) that are subsequently measured using the cost model is determined according to the following method:

On the balance sheet date, it is judged whether there are any signs that the asset may be impaired. If there are signs of impairment, the company will estimate its recoverable amount and conduct an impairment test. Goodwill formed due to business combinations, intangible assets with indefinite useful lives and intangible assets that have not yet reached their intended use are subject to impairment testing every year regardless of whether there are signs of impairment.

The recoverable amount is determined based on the higher of the asset's fair value less disposal costs and the present value of the asset's expected future cash flows. The Company estimates the recoverable amount on the basis of a single asset; if it is difficult to estimate the recoverable amount of an individual asset, the recoverable amount of the asset group to which the asset belongs is determined based on the asset group. The identification of an asset group is based on whether the main cash inflow generated by the asset group is independent of the cash inflows of other assets or asset groups.

When the recoverable amount of an asset or asset group is lower than its book value, the company will write down its book value to the recoverable amount, and the amount of the write-down will be included in the current profit and loss, and the corresponding asset impairment provision will be made.

As far as the impairment test of goodwill is concerned, the book value of goodwill formed due to a business combination shall be allocated to the relevant asset groups in a reasonable manner from the date of purchase; if it is difficult to allocate it to the relevant asset groups, it shall be allocated to the relevant asset group combinations. The relevant asset group or asset group combination is an asset group or asset group combination that can benefit from the synergistic effects of the business combination, and is no larger than the reporting segment determined by the company.

During impairment testing, if there are signs of impairment in an asset group or combination of asset groups related to goodwill, first conduct an impairment test on the asset group or combination of asset groups that does not include goodwill, calculate the recoverable amount, and recognize the corresponding impairment loss. Then conduct an impairment test on the asset group or asset group combination containing goodwill, and compare its book value with the recoverable amount. If the recoverable amount is lower than the book value, the impairment loss of goodwill is recognized.

Once the asset impairment loss is recognized, it will not be reversed in subsequent accounting periods.

Long-term deferred expenses

The long-term deferred expenses incurred by the company are measured at actual costs and amortized evenly over the expected benefit period. For long-term deferred expense items that cannot benefit future accounting periods, their amortized value shall be fully included in the current profit and loss.

Employee compensation

(1) Scope of employee compensation

Employee compensation refers to various forms of remuneration or compensation given by enterprises to obtain services provided by employees or to terminate labor relations. Employee compensation includes short-term compensation, post-employment benefits, termination benefits and other long-term employee benefits. Benefits provided by an enterprise to employees’ spouses, children, dependents, survivors of deceased employees and other beneficiaries are also employee benefits.

(2) Short-term salary

During the accounting period when employees provide services, the company recognizes the actual employee wages, bonuses, social insurance premiums such as medical insurance premiums, work-related injury insurance premiums, maternity insurance premiums, and housing provident funds paid for employees based on prescribed standards and proportions as liabilities, and includes them in the current profit and loss or related asset costs. If the liability is expected to be on staff

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 Semi-Annual Report Full Text If the relevant services provided cannot be fully paid within twelve months after the end of the annual reporting period, and the financial impact is significant, the liability will be measured at the discounted amount. (3) Post-employment benefits

Post-employment benefit plans include defined contribution plans and defined benefit plans. Among them, a defined contribution plan refers to a post-employment benefit plan in which the enterprise no longer bears further payment obligations after paying a fixed fee to an independent fund; a defined benefit plan refers to a post-employment benefit plan other than a defined contribution plan. The Company's post-employment benefits are defined contribution plans.

Set up a savings plan

Defined contribution plans include basic pension insurance, unemployment insurance and enterprise annuity plans.

In addition to basic pension insurance, the Company has established an enterprise annuity plan ("Annuity Plan") in accordance with the relevant policies of the national enterprise annuity system, and employees can voluntarily participate in the annuity plan. Apart from this, the Company has no other major employee social security commitments.

During the accounting period when employees provide services, the deposit amount payable calculated according to the defined contribution plan is recognized as a liability and included in the current profit and loss or related asset costs. (4) Dismissal benefits

If the company provides dismissal benefits to employees, the employee compensation liabilities arising from the dismissal benefits will be recognized and included in the current profit and loss at the earliest of the following two situations: when the company cannot unilaterally withdraw the dismissal benefits provided due to the termination of labor relations plan or layoff proposal; when the company recognizes the costs or expenses related to the restructuring involving the payment of dismissal benefits.

If an internal retirement plan is implemented for employees, the economic compensation before the official retirement date shall be regarded as dismissal benefits. From the date when the employee stops providing services to the normal retirement date, the wages and social insurance premiums to be paid to the employees who retire early shall be included in the current profit and loss in one go. Financial compensation after the official retirement date (such as normal pension and pension) will be treated as post-employment benefits.

(5) Other long-term benefits

Other long-term employee benefits provided by the company to employees that meet the conditions of a defined contribution plan shall be handled in accordance with the above-mentioned relevant regulations on defined contribution plans. If it is in compliance with a defined benefit plan, it will be handled in accordance with the above-mentioned relevant provisions on defined benefit plans, but the "changes resulting from the remeasurement of the net liabilities or net assets of the defined benefit plan" in the relevant employee compensation costs will be included in the current profit and loss or related asset costs.

Bonds payable

The bonds issued externally by the Company are initially measured at fair value minus transaction costs, and are subsequently measured at amortized cost using the effective interest rate method during the duration of the bonds.

Interest expenses are directly included in the current profit and loss, except that they are capitalized when they meet the conditions for capitalization of borrowing costs.

Estimated liabilities

If the obligations related to contingencies meet the following conditions at the same time, the company will recognize them as estimated liabilities:

(1) The obligation is the current obligation of the company;

(2) The performance of this obligation is likely to result in the outflow of economic benefits from the company;

(3) The amount of the obligation can be measured reliably.

Estimated liabilities are initially measured based on the best estimate of the expenditure required to fulfill the relevant current obligations, and comprehensive consideration is given to the risks, uncertainties and cargo related to contingencies.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

factors such as currency time value. If the time value of money has a significant impact, the best estimate is determined by discounting the relevant future cash outflows. The Company reviews the book value of estimated liabilities on the balance sheet date and adjusts the book value to reflect the current best estimate.

If all or part of the expenses required to settle the recognized estimated liabilities are expected to be compensated by a third party or other parties, the compensation amount can only be recognized separately as an asset when it is basically certain that it will be received. The amount of compensation recognized shall not exceed the book value of the liability recognized.

Share-based payment and equity instruments

(1) Types of share-based payment

The Company's share-based payment is divided into equity-settled share-based payment and cash-settled share-based payment.

(2) Method for determining the fair value of equity instruments

The Company determines the fair value of options and other equity instruments granted in active markets based on quoted prices in active markets. For equity instruments such as options granted for which there is no active market, option pricing models, etc. are used to determine their fair value. The selected option pricing model considers the following factors: A. The exercise price of the option; B. The validity period of the option; C. The current price of the underlying stock; D. The expected volatility of the stock price; E. The expected dividend of the stock; F. The risk-free interest rate during the validity period of the option.

(3) Basis for confirming the best estimate of exercisable equity instruments

On each balance sheet date during the waiting period, the Company makes its best estimate based on the latest changes in the number of vested employees and other subsequent information, and revise the number of equity instruments expected to be vested. On the vesting date, the number of equity instruments ultimately expected to be vested should be consistent with the actual number of vested equity instruments.

(4) Accounting treatments related to the implementation, modification, and termination of share-based payment plans

Equity-settled share-based payments are measured at the fair value of the equity instruments granted to employees. If the rights become exercisable immediately after grant, the fair value of the equity instrument on the grant date will be included in the relevant costs or expenses, and the capital reserve will be increased accordingly. If the vesting cannot be vested until the services within the waiting period are completed or the specified performance conditions are met, on each balance sheet date during the waiting period, based on the best estimate of the number of vested equity instruments and the fair value of the equity instrument on the grant date, the services obtained in the current period will be included in the relevant costs or expenses and capital reserves. No adjustments will be made to the recognized related costs or expenses and the total owner's equity after the vesting date.

Cash-settled share-based payments are measured based on the fair value of the liability calculated and determined based on shares or other equity instruments assumed by the company. If the rights become exercisable immediately after grant, the fair value of the liability assumed by the Company on the date of grant will be included in the relevant costs or expenses, and the liability will be increased accordingly. For cash-settled share-based payments that are exercisable after completing services during the waiting period or meeting specified performance conditions, on each balance sheet date during the waiting period, based on the best estimate of the vesting situation and the fair value of the liability borne by the company, the services obtained in the current period will be included in costs or expenses and corresponding liabilities. On each balance sheet date and settlement date before the settlement of relevant liabilities, the fair value of the liability is remeasured, and its changes are included in the current profit and loss.

When the company modifies the share-based payment plan, if the modification increases the fair value of the equity instruments granted, the increase in services obtained shall be recognized accordingly according to the increase in the fair value of the equity instruments; if the modification increases the number of equity instruments granted, the fair value of the increased equity instruments shall be recognized accordingly as an increase in services obtained. The increase in the fair value of equity instruments refers to the difference between the fair values of the equity instruments before and after the modification on the modification date. If the modification reduces the total fair value of the share-based payment or modifies the terms and conditions of the share-based payment plan in other ways that are unfavorable to employees, the accounting treatment for the services obtained will continue, as if the change has never occurred, unless the company cancels some or all of the equity instruments that have been granted.

During the waiting period, if the granted equity instruments are canceled (except for those canceled due to failure to meet non-market conditions for vesting), the company will treat the cancellation of the granted equity instruments as accelerated exercise, and the amount that should be recognized during the remaining waiting period will be immediately included in the current profit and loss, and the capital reserve will be recognized at the same time. If employees or other parties can choose to meet the non-vesting conditions but fail to do so within the waiting period, the company will treat it as the cancellation of the equity instruments granted.

Preferred shares, perpetual bonds and other financial instruments

(1) The distinction between financial liabilities and equity instruments

The company combines financial assets, financial liabilities and equity instruments based on the contractual terms of the financial instruments issued and the economic substance reflected rather than just in legal form.

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 Semi-annual Report Full Text Definition: The financial instrument or its components are classified as financial assets, financial liabilities or equity instruments upon initial recognition.

(2) Accounting treatment of preference shares, perpetual bonds and other financial instruments

The financial instruments issued by the Company are initially recognized and measured in accordance with the Financial Instrument Standards; thereafter, interest accrual or dividend distribution on each balance sheet date is processed in accordance with relevant specific enterprise accounting standards. That is, based on the classification of the financial instruments issued, the accounting treatment of interest payments or dividend distributions on the instruments is determined. For financial instruments classified as equity instruments, their interest payments or dividend distributions are treated as profit distributions of the company, and their repurchases, cancellations, etc. are treated as changes in equity; for financial instruments classified as financial liabilities, their interest payments or dividend distributions are in principle treated as borrowing costs, and the gains or losses arising from their repurchases or redemptions are included in the current profits and losses.

When the company issues financial instruments, transaction fees such as handling fees and commissions incurred by it, if classified as debt instruments and measured at amortized cost, shall be included in the initial measurement amount of the issued instruments; if classified as equity instruments, they shall be deducted from equity.

General risk reserve

Guangzhou Yuexiu Financing Guarantee Co., Ltd. (hereinafter referred to as "Yuexiu Guarantee"), a subsidiary of the Company, accrues general risk reserves based on 25% of the after-tax net profit of the previous year.

Guangzhou Yuexiu Financial Leasing Co., Ltd. (hereinafter referred to as "Yuexiu Leasing"), a subsidiary of the Company, accrues general risk reserves based on no less than 10% of the net profit realized by each individual company engaged in leasing business for the year.

Guangzhou Yuexiu Industrial Investment Fund Management Co., Ltd. (hereinafter referred to as "Yuexiu Industrial Fund"), a subsidiary of the Company, accrues general risk reserves based on 10% of the after-tax net profit.

Guangzhou Futures Co., Ltd. (hereinafter referred to as "Guangzhou Futures"), a subsidiary of the Company, accrues general risk reserves based on 10% of the after-tax net profit of each individual company.

Guangzhou Asset Management Co., Ltd. (hereinafter referred to as "Guangzhou Asset"), a subsidiary of the Company, accrues general risk reserves based on 10% of each individual company's net profit for the year.

Guarantee business risk reserves

The risk reserves referred to by the Company include unexpired liability reserves and guarantee compensation reserves.

Unexpired liability reserves are withdrawn at 50% of the current year's guarantee fee income from financing guarantee business and included in the current profit and loss. The difference withdrawal method is adopted for withdrawal. The undue liability reserves withdrawn in the previous year can be transferred back or deducted from the undue liability reserves that should be withdrawn in the current year.

The guarantee compensation reserve is accrued based on 1% of the balance of guarantee liability at the end of the year for the financing guarantee business and is included in the current profit and loss. Among them, the annual accrual ratio of the guarantee compensation reserve for the financial product guarantee business is: 1%/financing term, that is, the guarantee compensation reserve is accrued on an average basis every year during the financing period. The total accrual ratio during the financing period is 1% of the guarantee liability amount. If the cumulative guarantee compensation reserve reaches 10% of the balance of guarantee liability for the year, the difference will be withdrawn.

Income

(1) General principles

The company fulfills its performance obligations in the contract, that is, when the customer obtains control of the relevant goods or services, revenue is recognized.

If the contract contains two or more performance obligations, the Company shall, on the start date of the contract, calculate the relative price of the goods or services promised by each individual performance obligation based on the relative comparison of the individual selling prices.

The full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. allocates the transaction price to each individual performance obligation, and measures revenue based on the transaction price allocated to each individual performance obligation.

When one of the following conditions is met, the performance obligation is performed within a certain period of time; otherwise, the performance obligation is performed at a certain point in time:

① When the company performs the contract, the customer obtains and consumes the economic benefits brought by the company's performance of the contract.

②Customers can control the products under construction during the company's performance of the contract.

③The goods produced by the company during the performance of the contract have irreplaceable uses, and the company has the right to collect payment for the cumulative performance part that has been completed so far during the entire contract period.

For performance obligations performed within a certain period of time, the Company recognizes revenue based on the performance progress within that period of time. When the progress of contract performance cannot be reasonably determined, if the costs incurred by the company are expected to be compensated, revenue will be recognized based on the amount of costs incurred until the progress of contract performance can be reasonably determined. For performance obligations fulfilled at a certain point in time, the Company recognizes revenue at the point when the customer obtains control of the relevant goods or services. When judging whether the customer has obtained control of the goods or services, the company will consider the following signs:

① The company has the current right to receive payment for the goods or services, that is, the customer has current payment obligations for the goods.

②The company has transferred the legal ownership of the goods to the customer, which means that the customer already has the legal ownership of the goods.

③The company has transferred the physical goods of the goods to the customer, that is, the customer has physical possession of the goods.

④The company has transferred the main risks and rewards of ownership of the commodity to the customer, that is, the customer has obtained the main risks and rewards of ownership of the commodity. ⑤The customer has accepted the goods or services.

⑥Other indications that the customer has obtained control of the product.

(2) Specific methods

The company's income mainly comes from the following business types: power generation income, interest collection, rental interest collection, disposal of non-performing asset claims, collection of handling fees and commissions, and guarantee services.

Power generation revenue

Photovoltaic power generation income

The company calculates and recognizes photovoltaic power generation revenue based on the actual power generation of the photovoltaic power station and the local photovoltaic electricity price.

Wind power income

The company recognizes wind power revenue based on the tentative estimate of the actual electricity generated by wind power equipment every month. After both the project company and the local power supply bureau confirm the on-grid electricity bill settlement form, the tentatively estimated wind power generation revenue will be adjusted according to the electricity bill settlement form.

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 Semi-annual Report Full Text Interest Income

When the relevant amount of income can be measured reliably and the relevant economic benefits can be received, interest income will be recognized based on the time of use of the funds and the agreed interest rate. If the difference between the actual interest rate and the interest rate agreed in the contract is small, the interest income will be calculated based on the interest rate agreed in the contract.

If a financial asset purchased for resale is resold upon maturity in the current period, the difference between the resale price and the purchase price will be recognized as income for the current period; if it has not matured in the current period, interest will be accrued based on the amortized cost and the actual interest rate at the end of the period and recognized as income for the current period. If the difference between the actual interest rate and the interest rate agreed in the contract is small, the interest rate agreed upon in the contract will be recognized as income for the current period. rental income

Processing of the start date of the lease period

On the start date of the lease period, the difference between the sum of the finance lease receivable, the unguaranteed residual value and its present value is recognized as unrealized financing income, and is recognized as lease income in each period when rent is received in the future. The initial direct expenses incurred by the company are included in the initial measurement of finance lease receivables and reduce the amount of income recognized during the lease term. 2) Apportionment of unrealized financing income

Unrealized financing income is amortized in each period during the lease term and recognized as lease income in each period. When apportioning, the company uses the actual interest rate method to calculate the lease income that should be recognized in the current period.

The effective interest rate refers to the discount rate that makes the sum of the present value of the minimum lease payment and the present value of the unguaranteed residual value equal to the sum of the fair value of the leased asset and the initial direct costs incurred by the Company on the lease commencement date.

Handling when the unguaranteed residual value changes

When the unguaranteed residual value decreases and the unguaranteed residual value of a recognized loss is restored, the interest rate implicit in the lease (actual interest rate) is recalculated, and the lease income to be recognized in subsequent periods is determined based on the revised net lease investment and the recalculated interest rate implicit in the lease. No adjustments are made when the unguaranteed residual value increases. 4) Handling of contingent rents

The contingent rents received by the Company under finance leases are included in the current profits and losses.

Income from disposal of non-performing asset claims

When the Company has transferred the major risks and rewards of ownership of non-performing assets to the purchaser, and has neither retained the continuing management rights normally associated with ownership nor implemented effective control over the transferred debt package, the amount of income can be measured reliably, and the relevant economic benefits are likely to flow into the Company, the income from the disposal of the creditor's rights of non-performing assets will be recognized.

Fee and commission income

Fee and commission income is recognized when the services have been provided and the amount collected can be measured reliably.

Handling fee income from futures brokerage business is calculated based on the handling fees collected from customers. The settlement department implements a debt-free settlement system on the same day, and collects handling fees from customer funds based on customer transaction records after the end of each day's trading.
Income from the asset management business of entrusted customers, when the entrusted management contract expires and is settled with the entrusting unit, the income to be enjoyed or the loss to be borne by the company shall be calculated according to the proportion stipulated in the contract, and shall be recognized as income or loss for the current period. If the contract stipulates that the management fee is charged at a fixed proportion, the management fee income will be recognized in installments.
Financial leasing fee income refers to the financial leasing fee income that is stipulated in the lease contract and should be charged to customers. The financial leasing fee income should be recognized on schedule according to the progress of financial lease interest income recognition, that is, the actual interest rate method is used to confirm the fee income.

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 Semi-Annual Report Full Text 4) Consulting/service/advisory fee income, if it is a performance obligation performed within a certain point in time, the revenue shall be recognized when the five conditions of "A. Goods sales revenue" are met; if it is a performance obligation performed within a certain period of time, in addition to meeting the five conditions of "A. Goods sales revenue", the company shall also recognize revenue according to the performance progress within that period of time, except where the performance progress cannot be reasonably determined.

The company should consider the nature of the service and use the output method or the input method to determine the appropriate performance schedule. Among them, the output method determines the performance progress based on the value of the services transferred to the customer to the customer; the input method determines the performance progress based on the company's investment to fulfill the performance obligations. When the progress of contract performance cannot be reasonably determined, if the costs incurred by the enterprise are expected to be compensated, revenue shall be recognized based on the amount of costs incurred until the progress of contract performance can be reasonably determined.

Guarantee fee income

Guarantee fee income mainly includes market business guarantee fee income and policy business guarantee fee income. Under the general principle of satisfying revenue contracts, the company will allocate the expected guarantee fees (including experience adjustments to premiums) to each service period based on the passage of time, thereby recognizing the guarantee fee income for the current period.

Government subsidies

Government subsidies are recognized when the conditions attached to the government subsidies are met and can be received.

Government subsidies for monetary assets are measured based on the amount received or receivable. Government subsidies for non-monetary assets are measured at fair value; if the fair value cannot be obtained reliably, they are measured at a nominal amount of 1 yuan.

Asset-related government subsidies refer to government subsidies obtained by the company and used to purchase, construct or otherwise form long-term assets; in addition, they are government subsidies related to income.

For government documents that do not clearly stipulate the subsidy objects and can form long-term assets, the part of the government subsidy corresponding to the asset value shall be regarded as the government subsidy related to the assets, and the remaining part shall be regarded as the government subsidy related to the income; if it is difficult to distinguish, the entire government subsidy shall be regarded as the government subsidy related to the income.

Government subsidies related to assets are recognized as deferred income and are included in profits and losses in installments according to a reasonable and systematic method during the use period of the relevant assets. If government subsidies related to income are used to compensate for relevant costs or losses that have already occurred, they will be included in the current profits and losses; if they are used to compensate for relevant costs or losses in subsequent periods, they will be included in deferred income and will be included in the current profits and losses during the period when the relevant costs or losses are recognized. Government subsidies measured according to the nominal amount are directly included in the current profit and loss. The company handles the same or similar government subsidy business in a consistent manner.

Government subsidies related to daily activities shall be included in other income according to the economic and business essence. Government subsidies unrelated to daily activities are included in non-operating income and expenses. When a confirmed government subsidy needs to be returned, if the book value of the relevant assets is offset at the time of initial recognition, the book value of the assets is adjusted; if there is a balance of relevant deferred income, the book balance of the relevant deferred income is offset, and the excess is included in the current profit and loss; in other cases, it is directly included in the current profit and loss.

Deferred income tax assets and deferred income tax liabilities

Income tax includes current income tax and deferred income tax. Except for adjustments to goodwill arising from business combinations, or deferred income taxes related to transactions or events directly included in owners' equity, which are included in owners' equity, they are all included in current profits and losses as income tax expenses.

The company uses the balance sheet debt method to recognize deferred income tax based on the temporary differences between the book values of assets and liabilities on the balance sheet date and their tax basis.

Each taxable temporary difference is recognized as a related deferred income tax liability, unless the taxable temporary difference is generated in the following transactions:

(1) Initial recognition of goodwill, or the initial recognition of assets or liabilities arising from a transaction with the following characteristics: the transaction is not a business combination, and the transaction affects neither accounting profits nor taxable income when the transaction occurs (except for individual transactions where the initial recognition of assets and liabilities results in equal amounts of taxable temporary differences and deductible temporary differences);

Full text of the 2026 Semi-Annual Report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. (2) For taxable temporary differences related to investments in subsidiaries, joint ventures and associates, the time for the reversal of the temporary differences can be controlled and the temporary differences are likely not to be reversed in the foreseeable future.

For deductible temporary differences, deductible losses and tax credits that can be carried forward to future years, the company recognizes the resulting deferred income tax assets to the extent that it is likely to obtain future taxable income that can be used to offset the deductible temporary differences, deductible losses and tax credits, unless the deductible temporary differences are generated in the following transactions:

(1) The transaction is not a business combination, and when the transaction occurs, it affects neither accounting profits nor taxable income (except for individual transactions where the initial recognition of assets and liabilities results in equal amounts of taxable temporary differences and deductible temporary differences);

(2) For deductible temporary differences related to investments in subsidiaries, joint ventures and associates, corresponding deferred income tax assets are recognized if the following conditions are met: the temporary differences are likely to be reversed in the foreseeable future, and it is likely to be taxable income that can be used to offset the deductible temporary differences in the future.

On the balance sheet date, the Company's deferred income tax assets and deferred income tax liabilities are measured at the applicable tax rate during the period when the asset is expected to be recovered or the liability is settled, and the income tax impact of the expected method of recovering the asset or settling the liability on the balance sheet date is reflected.

On the balance sheet date, the Company reviews the book value of deferred income tax assets. If it is probable that sufficient taxable income will not be available in future periods to offset the benefits of deferred tax assets, the carrying amount of the deferred tax assets will be reduced. The amount of the write-down is reversed when it is probable that sufficient taxable income will be obtained.

On the balance sheet date, deferred income tax assets and deferred income tax liabilities are presented as the net amount after offsetting when the following conditions are met at the same time:

(1) The tax payer within the company has the legal right to settle current income tax assets and current income tax liabilities on a net basis;

(2) Deferred income tax assets and deferred income tax liabilities are related to income taxes levied by the same tax collection and administration department on the same taxpayer within the company.

Leasing

(1) Identification of lease

On the contract commencement date, the Company, as a lessee or lessor, evaluates whether the customer in the contract has the right to obtain substantially all of the economic benefits generated from the use of the identified assets during the use period, and has the right to direct the use of the identified assets during the use period. If a party in a contract transfers the right to control the use of one or more identified assets within a certain period in exchange for consideration, the Company determines that the contract is a lease or contains a lease.

(2) The company serves as the lessee

On the start date of the lease period, the Company recognizes right-of-use assets and lease liabilities for all leases, except short-term leases and low-value asset leases that are simplified.

The accounting policies for right-of-use assets are shown in Note 3.34.

Lease liabilities are initially measured based on the present value of the unpaid lease payments at the beginning of the lease term using the interest rate implicit in the lease. If the interest rate implicit in the lease cannot be determined, the incremental borrowing rate is used as the discount rate. Lease payments include: fixed payments and substantive fixed payments, if there are lease incentives, less the amount related to the lease incentives; variable lease payments that depend on an index or ratio; the exercise price of the purchase option, provided that the lessee is reasonably certain that the option will be exercised; the amount required to exercise the option to terminate the lease, provided that the lease term reflects that the lessee will exercise the option to terminate the lease; and the amount expected to be paid based on the residual value of the guarantee provided by the lessee. Subsequently, the interest expense of the lease liability in each period during the lease term is calculated based on the fixed periodic interest rate and included in the current profit and loss. Variable lease payments that are not included in the measurement of lease liabilities are included in the current profit and loss when actually incurred.

short term rental

A short-term lease refers to a lease with a lease term of no more than 12 months on the start date of the lease period, except for leases that include a purchase option.

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 Semi-annual Report Full Text The company will include the lease payments of short-term leases into the cost of related assets or current profits and losses according to the straight-line method during each period of the lease period.

Low value asset leasing

Low-value asset lease refers to a lease with a low value when the single leased asset is a new asset.

The company will include the lease payments for low-value asset leases into the relevant asset costs or current profits and losses on a straight-line basis during each period of the lease term.

For low-value asset leases, the Company chooses to adopt the above simplified treatment method based on the specific circumstances of each lease.

Lease changes

If a lease changes and the following conditions are met at the same time, the company will account for the lease change as a separate lease: ① The lease change expands the scope of the lease by adding the right to use one or more leased assets; ② The increased consideration is equivalent to the amount of the individual price of the expanded part of the lease scope adjusted according to the conditions of the contract.

If the lease change is not accounted for as a separate lease, on the effective date of the lease change, the company re-allocates the consideration of the contract after the change, re-determines the lease term, and re-measures the lease liability based on the present value of the lease payment after the change and the revised discount rate.

If the change in the lease results in a reduction in the scope of the lease or a shortening of the lease period, the company will reduce the book value of the right-of-use assets accordingly, and include the gains or losses related to the partial or complete termination of the lease into the current profits and losses.

If other lease changes result in the remeasurement of lease liabilities, the company will adjust the book value of the right-of-use assets accordingly.

(3) The company serves as the lessor

When the Company acts as a lessor, leases that substantially transfer all risks and rewards related to asset ownership are recognized as finance leases, and leases other than finance leases are recognized as operating leases.

finance lease

In financial leases, the company uses the net investment in the lease as the entry value of the financial lease receivable on the date the lease term begins. The net investment in the lease is the sum of the unguaranteed residual value and the present value of the lease receivables that have not been received on the date the lease term begins, discounted at the interest rate implicit in the lease. As the lessor, the Company calculates and recognizes interest income for each period during the lease term based on fixed periodic interest rates. Variable lease payments obtained by the Company as a lessor that are not included in the measurement of the net lease investment are included in the current profit and loss when actually incurred.

The derecognition and impairment of finance lease receivables shall be accounted for in accordance with the provisions of "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments" and "Accounting Standards for Business Enterprises No. 23 - Transfer of Financial Assets".

operating lease

For rents in operating leases, the company recognizes current profits and losses according to the straight-line method in each period during the lease term. The initial direct expenses incurred in connection with the operating lease shall be capitalized, amortized during the lease period on the same basis as the rental income recognition, and included in the current profit and loss in installments. Variable lease payments related to operating leases that are not included in the lease receipts are included in the current profit and loss when they actually occur.

Lease changes

If an operating lease changes, the Company will account for it as a new lease from the effective date of the change, and the amount of lease receipts received in advance or receivable related to the lease before the change is regarded as the amount of receipts from the new lease.

If a financial lease is changed and the following conditions are met at the same time, the company will account for the change as a separate lease: ① The change is by adding one or more

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 Semi-annual Report Full Text item expands the scope of the lease by obtaining the right to use the leased assets; ② The increased consideration is equivalent to the amount of the individual price of the expanded part of the lease scope adjusted according to the conditions of the contract. If a financial lease is changed and is not accounted for as a separate lease, the company will treat the changed lease under the following circumstances: ① If the change takes effect on the lease commencement date, the lease will be classified as an operating lease, the company will account for it as a new lease from the effective date of the lease change, and The net lease investment before the effective date of the lease change is used as the book value of the leased asset; ② If the change takes effect on the lease start date, the lease will be classified as a finance lease, and the company will conduct accounting treatment in accordance with the provisions of "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments" on modifying or renegotiating contracts.

Right-of-use assets

(1) Recognition conditions for right-of-use assets

Right-of-use assets refer to the company's rights as a lessee to use the leased assets during the lease period.

On the commencement date of the lease term, the right-of-use asset is initially measured at cost. This cost includes: the initial measurement amount of the lease liability; the lease payment amount paid on or before the start date of the lease term, and if there is a lease incentive, the amount related to the lease incentive that has been enjoyed will be deducted; the initial direct costs incurred by the company as a lessee; the costs that the company as a lessee is expected to incur to dismantle and remove the leased assets, restore the site where the leased assets are located, or restore the leased assets to the state agreed upon in the lease terms. As a lessee, the company recognizes and measures costs such as dismantling and restoration in accordance with the "Accounting Standards for Business Enterprises No. 13 - Contingencies". Adjustments are made subsequently for any subsequent remeasurement of the lease liability.

(2) Depreciation method of right-of-use assets

The Company uses the straight-line method to calculate depreciation. If the Company, as the lessee, can reasonably determine that it will obtain ownership of the leased asset at the expiration of the lease term, depreciation will be accrued over the remaining useful life of the leased asset. If it is not reasonably certain that the ownership of the leased asset will be obtained at the expiration of the lease term, depreciation will be accrued during the shorter of the lease term and the remaining useful life of the leased asset.

(3) Please refer to Note 3.21 for the impairment testing method and impairment provision accrual method for right-of-use assets.

Repurchase shares

The shares repurchased by the company are managed as treasury shares before they are canceled or transferred, and all expenditures for repurchasing the shares are converted into the cost of treasury shares. The consideration and transaction costs paid in share repurchases reduce owners' equity, and no gain or loss is recognized when the company's shares are repurchased, transferred or canceled.

When treasury shares are transferred, the difference between the actual amount received and the book amount of treasury shares will be included in the capital reserve. If the capital reserve is insufficient to offset, the surplus reserve and undistributed profits will be offset. When treasury shares are canceled, the share capital is reduced according to the face value of the stock and the number of canceled shares. The difference between the book balance of the canceled treasury shares and the face value is used to offset the capital reserve. If the capital reserve is insufficient for offset, the surplus reserve and undistributed profits are offset.

Asset securitization business

The Company securitizes lease receivable assets (the receivables are “trust properties”) and generally sells these assets to special purpose entities, which then issue securities to investors. Interest in the securitized financial assets is retained in the form of credit enhancement, subordinated debt or other residual interest (retained interest). Retained interest is recorded at fair value on the Company's balance sheet. Gains or losses on securitization depend on the carrying value of the financial assets transferred and are allocated between the derecognised financial assets and the retained interests based on their relative fair values on the date of transfer. Gains or losses on securitization are recorded in current profits and losses.

In applying its policy of securitizing financial assets, the Company has considered the extent to which the risks and rewards of assets transferred to another entity are transferred, and the extent to which the Company exercises control over that entity:

① When the company has transferred almost all risks and rewards of ownership of the financial asset, the company will terminate the recognition of the financial asset;

② When the company retains almost all risks and rewards of ownership of the financial asset, the company will continue to recognize the financial asset;

③ If the company does not transfer or retain substantially all the risks and rewards of ownership of the financial asset, the company will consider whether there is control over the financial asset. If this

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

If the company does not retain control, the company will derecognize the financial asset and recognize the rights and obligations arising or retained in the transfer as assets or liabilities respectively. If the company retains control, the financial assets are recognized based on the degree of continued involvement in the financial assets.

Significant accounting judgments and estimates

The Company continuously evaluates the important accounting estimates and key assumptions adopted based on historical experience and other factors, including reasonable expectations for future events. The important accounting estimates and key assumptions that are likely to result in a significant adjustment in the book value of assets and liabilities in the next fiscal year are listed below:

Measurement of expected credit losses on debt investments and long-term receivables

The Company calculates the expected credit losses of accounts receivable through debt investment, long-term receivables default risk exposure and expected credit loss rate, and determines the expected credit loss rate based on the default probability and default loss rate. When determining the expected credit loss rate, the company uses internal historical credit loss experience and other data, and adjusts historical data based on current conditions and forward-looking information. When considering forward-looking information, the Company uses indicators including the risk of changes in the economic environment, changes in the external market environment, technology environment and customer conditions. The Company regularly monitors and reviews assumptions related to the calculation of expected credit losses.

fair value of financial assets

The Company uses various valuation techniques including discounted cash flow method, market multiplier method, etc. to determine the fair value of financial instruments that do not have an active market. For financial assets that are expressly restricted by law from being disposed of by the Company within a specific period, their fair value is based on market quotations and adjusted based on the characteristics of the instrument. During valuation, the group needs to estimate aspects such as its own and counterparty's credit risks, market volatility and correlation. Changes in the assumptions of these related factors will have an impact on the fair value of financial instruments.

Definition of merger scope

When determining whether to merge structured entities, the Company mainly considers whether it has control over these entities, which include private equity funds, trust plans and asset management plans. The company also serves as an investor and manager of private equity funds, trust plans and asset management plans. The company comprehensively evaluates whether the returns enjoyed by holding investment shares and the manager's remuneration as a manager will have a significant impact on the company's variable returns. If the impact is significant and the company has the power to dominate the relevant activities of the entity to affect the amount of returns, the company will merge these structured entities.

Classification of financial assets

The Company's significant judgments involved in determining the classification of financial assets include analysis of business models and contractual cash flow characteristics.

The Company determines the business model for managing financial assets at the level of financial asset portfolios. Factors considered include the way to evaluate and report the performance of financial assets to key management personnel, the risks that affect the performance of financial assets and their management methods, and the way in which relevant business managers are remunerated.

When the company evaluates whether the contractual cash flows of financial assets are consistent with basic lending arrangements, the company makes the following main judgments: whether the time distribution or amount of the principal may change during the duration due to early repayment and other reasons; whether interest only includes the time value of money, credit risk, other basic lending risks and consideration for costs and profits. For example, whether the amount of early repayment only reflects the unpaid principal and interest based on the unpaid principal, as well as reasonable compensation paid for early termination of the contract.

Changes in important accounting policies and accounting estimates

(1) Changes in important accounting policies

Implement new insurance contract standards

On December 19, 2020, the Ministry of Finance revised and issued new insurance contract standards to provide new guidance for the recognition of insurance service revenue and the measurement of insurance contract liabilities. This is mainly reflected in improving the definition and splitting of insurance contracts, introducing the concept of insurance contract groups, improving the insurance contract measurement model, adjusting the principles of insurance service revenue recognition, and improving the contract service margin measurement method. The standards require companies that are listed at home and abroad at the same time and companies that are listed overseas and prepare financial statements using International Financial Reporting Standards or Accounting Standards for Business Enterprises to implement it from January 1, 2023. Other companies that implement Accounting Standards for Business Enterprises will implement it from January 1, 2026. At the same time, companies are allowed

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

The business is executed in advance.

The Group will implement the above-mentioned new insurance contract standards from January 1, 2026, which will not have a significant impact on the company's financial status, operating results and cash flows, and will adopt the retrospective adjustment method to retrospectively adjust the financial statement data of previous years and comparable periods.

Implement "Standard Interpretation No. 19"

On December 5, 2025, the Ministry of Finance issued "Standard Interpretation No. 19", which stipulates "About the accounting treatment of compensating assets in business combinations not under common control", "About the accounting treatment of relevant capital reserves when disposing of subsidiaries originally obtained through business combinations under common control", "About the derecognition of financial liabilities settled using electronic payment systems", "About the assessment and related disclosure of contractual cash flow characteristics of financial assets" and "About disclosure of equity instruments designated as measured at fair value with changes included in other comprehensive income". This interpretation will come into effect on January 1, 2026.

The Group will implement "Standard Interpretation No. 19" from January 1, 2026, which will not have a significant impact on the company's financial status, operating results and cash flow, and will not involve retrospective adjustments to previous years' financial statement data.

(2) Changes in important accounting estimates

Adjustment of accounting depreciation life and residual value rate of photovoltaic power station assets

In order to more fairly reflect the financial status and operating results of the Group and provide more reliable accounting information, in accordance with the "Accounting Standards for Business Enterprises No. 4 - Fixed Assets"

Article 15 "Enterprises shall reasonably determine the service life and estimated net residual value of fixed assets based on the nature and use of fixed assets", Article 19 "Enterprises shall review the service life, estimated net residual value and depreciation method of fixed assets at least at the end of each year" and other relevant provisions. Taking into account the operation cycle of photovoltaic power stations, related asset depreciation policies in the same industry, and national policy documents related to deepening the high-quality development of new energy, the company plans to adjust the accounting depreciation period of photovoltaic power station assets that was originally depreciated from 25 years to 20 years, and the residual value rate from 0% to 10% starting from January 1, 2026.

The Group will implement changes in accounting estimates starting from January 1, 2026, which will not have an impact on the company's financial position and operating results in 2025 and previous years. This change in accounting estimates has been approved by the 38th meeting of the tenth board of directors of the company.

(3) The new insurance contract standards will be implemented for the first time in 2026 and the relevant items in the financial statements will be adjusted during the comparative period in the year of the first implementation.

Unit: Yuan December 31, 2025 December 31, 2025 Projects affected by the implementation of the new insurance contract standards

Before changes in accounting policies After changes in accounting policies Amount of impact

Current assets:

Monetary funds 16,507,400,376.02 16,507,400,376.02

Settlement reserve fund 8,667,938.05 8,667,938.05

Loan funds

Trading financial assets 45,957,540,980.91 45,957,540,980.91

Derivative financial assets

Notes receivable

Accounts receivable 669,875,739.20 669,875,739.20

Receivables Financing

Prepayments 126,792,220.54 126,792,220.54

premium receivable

Reinsurance accounts receivable

Receivable reinsurance contract reserves

Other receivables 788,086,772.88 788,086,772.88

Among them: interest receivable

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

December 31, 2025 December 31, 2025 Projects affected by the implementation of the new insurance contract standards

Before changes in accounting policies After changes in accounting policies Amount of impact

Dividends receivable 367,191,019.78 367,191,019.78 Financial assets purchased under resale agreements

Inventory

Among them: data resources

Contract assets 460,106.71 460,106.71 Assets held for sale

Non-current assets due within one year 26,271,819,254.99 26,271,819,254.99 Other current assets 10,213,997,318.84 10,213,997,318.84 Total current assets 100,544,640,708.14 100,544,640,708.14 Non-current assets:

Grant loans and advances

Debt investments 1,001,953,732.96 1,001,953,732.96 Other debt investments

Long-term receivables 30,921,120,643.04 30,921,120,643.04 Long-term equity investment 41,443,205,671.58 41,443,205,671.58 Other equity instrument investments 18,001,119.03 18,001,119.03 Other non-current financial assets

Investment real estate 14,368,574.99 14,368,574.99 Fixed assets 37,752,732,579.17 37,752,732,579.17 Construction in progress 10,997,880.49 10,997,880.49 Productive biological assets

oil and gas assets

Right-of-use assets 108,261,232.52 108,261,232.52 Intangible assets 81,013,893.84 81,013,893.84

Among them: data resources

development expenditure

Among them: data resources

goodwill

Long-term deferred expenses 14,989,898.21 14,989,898.21 Deferred income tax assets 838,855,583.97 841,348,612.03 2,493,028.06 Other non-current assets 448,150,178.19 448,150,178.19 Total non-current assets 112,653,650,987.99 112,656,144,016.05 2,493,028.06 Total assets 213,198,291,696.13 213,200,784,724.19 2,493,028.06 Current liabilities:

Short-term borrowings 8,170,829,351.97 8,170,829,351.97 Borrowings from the central bank

borrowing funds

Trading financial liabilities 1,834,136,394.09 1,834,136,394.09 Derivative financial liabilities

Notes payable 2,060,703,253.14 2,060,703,253.14 Accounts payable 480,655,900.58 480,655,900.58 Advance payments 2,503,128,359.37 2,503,128,359.37

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

December 31, 2025 December 31, 2025 Projects affected by the implementation of the new insurance contract standards

Before the change in accounting policy After the change in accounting policy Amount of impact Contract liabilities 6,957.55 10,549,336.81 10,542,379.26 Amount of financial assets sold under repurchase

Taking deposits and placing deposits with other banks

Agent for buying and selling securities

Agent underwriting securities funds

Employee benefits payable 626,545,383.79 626,545,383.79 Taxes payable 205,510,500.45 205,510,500.45 Other payables 1,525,508,436.50 1,525,508,436.50 Including: interest payable

Dividends payable 8,792,182.81 8,792,182.81 Handling fees and commissions payable

Reinsurance accounts payable

Liabilities held for sale

Non-current liabilities due within one year 44,687,703,208.95 44,687,703,208.95 Other current liabilities 10,617,628,731.88 10,617,628,731.88 Total current liabilities 72,712,356,478.27 72,722,898,857.53 10,542,379.26 Non-current liabilities:

Insurance contract reserves 67,908,607.71 67,338,340.68 -570,267.03 Long-term borrowings 53,640,493,104.47 53,640,493,104.47 Bonds payable 32,764,600,549.32 32,764,600,549.32 including: preference shares

perpetual bond

Lease liabilities 41,957,115.10 41,957,115.10 Long-term payables 3,630,513,956.19 3,630,513,956.19 Long-term employee benefits payable

Estimated liabilities 81,250,000.00 81,250,000.00 Deferred income 5,850,000.00 5,850,000.00 Deferred income tax liabilities 264,502,373.03 264,502,373.03 Other non-current liabilities

Total non-current liabilities 90,497,075,705.82 90,496,505,438.79 -570,267.03 Total liabilities 163,209,432,184.09 163,219,404,296.32 9,972,112.23 Owners’ equity:

Share capital 5,017,132,462.00 5,017,132,462.00 Other equity instruments 1,200,000,000.00 1,200,000,000.00 Including: preference shares

Perpetual bonds 1,200,000,000.00 1,200,000,000.00 Capital reserves 12,206,263,723.27 12,206,263,723.27 Less: treasury shares 100,199,244.71 100,199,244.71 Other comprehensive income -98,836,032.94 -98,836,032.94Special reserve

Surplus reserve 1,268,373,086.66 1,268,373,086.66 General risk reserve 938,777,743.60 936,378,999.06 -2,398,744.54

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

December 31, 2025 December 31, 2025 Projects affected by the implementation of the new insurance contract standards

Before changes in accounting policies After changes in accounting policies Amount of impact

Undistributed profits 12,798,448,326.11 12,793,367,986.48 -5,080,339.63 Total owners’ equity attributable to the parent company 33,229,960,063.99 33,222,480,979.82 -7,479,084.17

Minority shareholders’ equity 16,758,899,448.05 16,758,899,448.05

Total owners’ equity 49,988,859,512.04 49,981,380,427.87 -7,479,084.17 Total liabilities and owners’ equity 213,198,291,696.13 213,200,784,724.19 2,493,028.06

(4) Explanation of comparative data for the previous period of retrospective adjustment after the first implementation of the new insurance contract standards in 2026

Unit: yuan for the first half of 2025

2025 Half Year 2025 Half Year Implementation of new insurance contract projects Futures warehouse receipt accounting and new insurance

Before adjustment After adjustment for futures warehouse receipt accounting Number of retrospective adjustments to standards

After adjustment to contract standards

Total operating income 5,537,142,493.02 4,097,684,728.94 4,097,180,946.96 -503,781.98 Among them: main business income 2,575,115,044.34 2,575,115,044.34 2,575,115,044.34

Interest income 1,355,970,990.11 1,355,970,990.11 1,355,970,990.11

Premiums earned

Fee and commission income 142,865,013.75 142,865,013.75 142,865,013.75

Other business income 1,463,191,444.82 23,733,680.74 23,229,898.76 -503,781.98

2. Total operating costs 5,362,667,790.66 3,703,745,388.86 3,703,745,388.86

Including: main business cost 1,144,049,683.47 1,144,049,683.47 1,144,049,683.47

Interest expense 1,839,261,125.94 1,839,261,125.94 1,839,261,125.94

Handling fees and commission expenses 4,114,194.77 4,114,194.77 4,114,194.77

Other business costs 1,674,013,871.82 15,091,470.02 15,091,470.02

surrender deposit

Net compensation expenses

Net withdrawal of insurance liability reserves

policy dividend payout

Reinsurance expenses 287,736.44 287,736.44 287,736.44

Taxes and surcharges 19,763,769.10 19,763,769.10 19,763,769.10

Selling expenses 1,442,583.55 1,442,583.55 1,442,583.55

Management expenses 550,264,161.04 550,264,161.04 550,264,161.04

Research and development expenses 2,211,668.63 2,211,668.63 2,211,668.63

Financial expenses 127,258,995.90 127,258,995.90 127,258,995.90

Including: interest expense 219,580,631.79 219,580,631.79 219,580,631.79

Interest income 125,767,207.74 125,767,207.74 125,767,207.74

Add: other income 16,071,210.32 16,071,210.32 16,071,210.32

Investment income (losses are marked with "-" 2,187,177,058.12 1,967,712,420.40 1,967,712,420.40

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Half-year 2025 Half-year 2025 Half-year 2025 Implementation of new insurance contract projects Futures warehouse receipt accounting and new insurance before adjustment Futures warehouse receipt accounting after adjustment Number of retrospective adjustments to standards

(Fill in after adjustments to contract standards)

Of which: for associates and joint ventures

1,202,176,691.38 1,202,176,691.38 1,202,176,691.38 Enterprise’s investment income

Money measured at amortized cost

Income from derecognition of financial assets

Exchange gains (losses are marked with "-"

Fill in the column)

Net exposure hedging gain (loss calculated as

Fill in the column with "-" sign)

Gains (losses) from changes in fair value

57,805,726.18 57,805,726.18 57,805,726.18 (please fill in with "-")

Credit impairment losses (losses based on

-90,373,071.21 -90,373,071.21 -90,373,071.21 Fill in the column with "-")

Asset impairment losses (losses based on

-5,830,906.29 -5,830,906.29 -5,830,906.29 (Fill in “-”)

Proceeds from asset disposal (loss calculated as

89,464.36 89,464.36 89,464.36 Please fill in the column with "-")

3. Operating profit (loss should be filled in with "-"

2,339,414,183.84 2,339,414,183.84 2,338,910,401.86 columns)

Add: Non-operating income 69,849.10 69,849.10 69,849.10 Less: Non-operating expenses 2,869,929.73 2,869,929.73 2,869,929.73

4. Total profit (total loss is marked with "-"

2,336,614,103.21 2,336,614,103.21 2,336,110,321.23 -503,781.98 fill in the column)

Less: Income tax expenses 336,634,247.27 336,634,247.27 336,508,301.77 -125,945.50

5. Net profit (net loss is filled in with "-"

1,999,979,855.94 1,999,979,855.94 1,999,602,019.46 -377,836.48 columns)

(1) Classification by business continuity

Net profit from continuing operations (net loss divided by

1,999,979,855.94 1,999,979,855.94 1,999,602,019.46 -377,836.48 (please fill in the column with "-")

Net profit from discontinued operations (net loss equal to

Fill in the column with "-" sign)

(2) Classification according to ownership ownership

Net profit attributable to shareholders of the parent company 1,558,440,127.36 1,558,440,127.36 1,558,062,290.88 -377,836.48 2. Profit and loss of minority shareholders 441,539,728.58 441,539,728.58 441,539,728.58
Net after-tax amount of other comprehensive income 20,098,410.32 20,098,410.32 20,098,410.32 Other comprehensive income attributable to the owners of the parent company

19,837,953.34 19,837,953.34 19,837,953.34 Net profit after tax

(1) Other items that cannot be reclassified into profit or loss

70,978,107.99 70,978,107.99 70,978,107.99 Other comprehensive income

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Half year of 2025 Half year of 2025 Half year of 2025 Implementation of new insurance contract projects Futures warehouse receipt accounting and new insurance before adjustment Futures warehouse receipt accounting after adjustment Retrospective adjustments to standards After adjustment to contract standards

Remeasure changes in defined benefit plans

Others that cannot be transferred to profit or loss under the equity method

70,978,107.99 70,978,107.99 70,978,107.99 Comprehensive income

Fair value of other equity instrument investments

change

Fair value of the company’s own credit risk

change

5.Others

(2) Others that will be reclassified into profit and loss

-51,140,154.65 -51,140,154.65 -51,140,154.65Comprehensive income

Other comprehensive items that can be transferred to profits and losses under the equity method

-46,979,929.79 -46,979,929.79 -46,979,929.79 combined income

Changes in fair value of other debt investments
Financial assets are reclassified into other comprehensive

Amount of combined income

Credit impairment provisions for other debt investments
Cash flow hedging reserve
Translation difference of foreign currency financial statements -4,160,224.86 -4,160,224.86 -4,160,224.86

7.Others

Other comprehensive income attributable to minority shareholders

260,456.98 260,456.98 Net after-tax amount of 260,456.98

Total comprehensive income 2,020,078,266.26 2,020,078,266.26 2,019,700,429.78 -377,836.48 Comprehensive income attributable to owners of the parent company

1,578,278,080.70 1,578,278,080.70 1,577,900,244.22 -377,836.48 Total profit

Total comprehensive income attributable to minority shareholders

441,800,185.56 441,800,185.56 441,800,185.56 amount

8. Earnings per share:

(1) Basic earnings per share 0.3093 0.3093 0.3092 -0.0001

(2) Diluted earnings per share 0.3093 0.3093 0.3092 -0.0001

4. Taxes

Main tax types and tax rates

Tax type Tax calculation basis Statutory tax rate (%) Value-added tax Taxable income 13.00, 9.00, 6.00, 5.00, 3.00 Urban maintenance and construction tax Exchange tax 7.00, 5.00, 1.00 Corporate income tax Taxable income 25.00

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Tax type Tax calculation basis Statutory tax rate (%) Education fee surcharge shall be transferred to exchange tax 3.00 Local education fee surcharge shall be exchanged to transfer tax 2.00 Real estate tax Rental income, 70% of original value of property 1.20, 12.00

Explanation of taxpayers with different corporate income tax rates

Name of taxpayer Income tax rate (%) Guangzhou Yuexiu Financial Technology Co., Ltd. (hereinafter referred to as "Yuexiu Financial Technology") 15.00 Some subsidiaries of Guangzhou Yuexiu New Energy Investment Co., Ltd. (hereinafter referred to as "Yuexiu New Energy") 0.00, 5.00, 12.50

Tax incentives

(1) The tax policies enjoyed by Yuexiu Jinke, a subsidiary of the Group:

According to the "Reply Letter on the Registration of the Third Batch of High-tech Enterprises in Guangdong Province in 2019" (Guokehuozi [2020] No. 54) by the Torch High-tech Industry Development Center of the Ministry of Science and Technology, the company has been registered as a high-tech enterprise. The company passed the review of the high-tech enterprise certificate on December 22, 2022 (certificate number:

GF202244010260), which is valid for three years. On December 19, 2025, it has re-obtained the high-tech enterprise certificate numbered GR202544010783. In accordance with the "Enterprise Income Tax Law" and other relevant regulations, enjoy the preferential corporate income tax tax rate of 15%.

(2) Taxation policies of Yuexiu New Energy, a subsidiary of the Group:

According to the relevant provisions of the "Enterprise Income Tax Law of the People's Republic of China" and its implementation regulations, resident enterprises engaged in new power grid (power transmission and transformation facilities) projects that meet the conditions and standards specified in the "Catalogue of Enterprise Income Tax Preferences for Public Infrastructure Projects" (2008 Edition) can enjoy the preferential enterprise income tax policy of "three exemptions and three half reductions" in accordance with the law. Some subsidiaries of Yuexiu New Energy enjoy this preferential policy.

According to the "Announcement on Preferential Income Tax Policies for Small and Micro Enterprises and Individual Industrial and Commercial Households" (Ministry of Finance and State Administration of Taxation Announcement No. 6, 2023) and the "Announcement on Further Support for the Development of Relevant Tax Policies for Small and Micro Enterprises and Individual Industrial and Commercial Households" (Ministry of Finance and State Administration of Taxation Announcement No. 6, 2023) According to the relevant provisions of the State Administration of Taxation Announcement No. 12 of 2023), from January 1, 2023 to December 31, 2027, small-scale value-added tax taxpayers, small low-profit enterprises and individual industrial and commercial households will be levied half of the resource tax (excluding water resources tax), urban maintenance and construction tax, real estate tax, urban land use tax, stamp tax (excluding securities transaction stamp tax), cultivated land occupation tax and education surcharge, and local education surcharge. Some subsidiaries of Yuexiu New Energy enjoy this preferential policy.

According to the "Announcement on Preferential Income Tax Policies for Small and Micro Enterprises and Individual Industrial and Commercial Households" (Ministry of Finance and State Administration of Taxation Announcement No. 6 of 2023), the annual taxable income of small and low-profit enterprises does not exceed 1 million yuan, a reduced rate of 25% is included in the taxable income, and the corporate income tax is paid at a rate of 20%. The "Announcement on Relevant Tax Policies to Further Support the Development of Small and Micro Enterprises and Individual Industrial and Commercial Households" (Ministry of Finance and State Administration of Taxation Announcement No. 12 of 2023) stipulates that small and low-profit enterprises will calculate taxable income at a reduced rate of 25% and pay corporate income tax at a rate of 20%. This policy will continue to be implemented until December 31, 2027. Some subsidiaries of Yuexiu New Energy enjoy this preferential policy.

5. Notes on Consolidated Financial Statement Items

For the financial statement data disclosed below, unless otherwise specified, the "beginning of the period" refers to January 1, 2026, the "end of the period" refers to June 30, 2026, the "current period" refers to the period from January 1 to June 30, 2026, and the "previous period" refers to the period from January 1 to June 30, 2025. The currency unit is RMB.

Monetary funds

Item Ending balance Beginning balance

Bank deposits 18,451,765,355.12 15,406,012,070.53

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Other monetary funds 738,238,111.41 1,101,388,305.49

Total 19,190,003,466.53 16,507,400,376.02

Including: Total amount deposited abroad 334,903,561.70 501,949,736.09

Restricted use of monetary funds at the end of the period

Item Closing balance Reason for use restriction

Bank acceptance bill deposit 455,413,623.80 Bank acceptance deposit guarantee deposit 30,697.41 Guarantee deposit property preservation deposit 4,792,897.73 Property preservation deposit

Total 460,237,218.94

Settlement reserve fund

(1) Listed by category

Item Ending balance Beginning balance

Company reserves 29,159,999.57 8,667,938.05 (2) Listed in detail

Ending balance Beginning balance

Project

Amount in original currency Conversion rate Amount in RMB Amount in original currency Conversion rate Amount in RMB Company’s derivatives reserves 29,159,999.57 1.00 29,159,999.57 8,667,938.05 1.00 8,667,938.05

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Trading financial assets

(1) Listed by category

Ending balance

Fair value Initial cost

Project

Classified as fair value Designated as fair value Classified as fair value Designated as fair value

Total fair value is measured and its changes are included in the current loss and changes are included in the current period. Total initial cost is measured and changes are included in the current period.

Financial assets for profit and loss Financial assets for profit and loss Financial assets for profit and loss for the period Financial assets for profit and loss

Bonds 9,885,065.14 9,885,065.14 23,623,253.00 23,623,253.00 Stocks 2,618,744,307.72 2,618,744,307.72 1,383,279,679.98 1,383,279,679.98 Funds 753,062,030.20 753,062,030.20 723,103,389.73 723,103,389.73 Equity fund shares and unlisted equity investments held 10,065,700,081.56 10,065,700,081.56 10,471,251,481.99 10,471,251,481.99 Asset management plan 636,952,595.73 636,952,595.73 631,293,881.13 631,293,881.13 Trust plan 7,972,625,682.79 7,972,625,682.79 7,791,109,771.19 7,791,109,771.19 Non-performing asset package 24,819,710,909.38 24,819,710,909.38 26,143,432,914.27 26,143,432,914.27 Derivative financial assets 47,965,854.58 47,965,854.58

Others 1,034,306,681.40 1,034,306,681.40 1,029,320,000.00 1,029,320,000.00

Total 47,958,953,208.50 47,958,953,208.50 48,196,414,371.29 48,196,414,371.29

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

(continued table)

Opening balance

Fair value Initial cost

Project

Classified as fair value Designated as fair value Classified as fair value Designated as fair value

Measured and changes are included in the current period. Total fair value. Measured and changes are included in the current period. Total initial cost. Measured and changes are included in the current period.

Financial assets with profit and loss for the period Financial assets with profit and loss for the period Financial assets with profit and loss for the period Financial assets with profit and loss for the period

Bonds 11,208,459.44 11,208,459.44 25,122,647.30 25,122,647.30 Stocks 2,852,311,597.63 2,852,311,597.63 1,956,769,713.72 1,956,769,713.72 Funds 632,887,117.51 632,887,117.51 615,450,209.62 615,450,209.62 Equity fund shares and unlisted equity investments held 8,309,178,161.44 8,309,178,161.44 8,621,539,278.37 8,621,539,278.37 Asset management plan 602,321,984.79 602,321,984.79 597,449,912.50 597,449,912.50 Trust plan 7,355,383,117.73 7,355,383,117.73 7,068,180,922.28 7,068,180,922.28 Non-performing asset package 24,879,564,935.52 24,879,564,935.52 25,822,800,652.08 25,822,800,652.08 Derivative financial assets 8,452,045.76 8,452,045.76

Others 1,306,233,561.09 1,306,233,561.09 1,304,998,000.00 1,304,998,000.00

Total 45,957,540,980.91 45,957,540,980.91 46,012,311,335.87 46,012,311,335.87

(2) Restricted trading financial assets as of the end of the period

Items Sale restrictions or other significant restrictions on realization Fair value at the end of the period

Stocks Restricted shares 2,153,473,129.75

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Notes receivable

(1) Classified presentation of notes receivable

Item Closing balance Opening balance Bank acceptance notes 5,722,670.10

commercial acceptance notes

Total 5,722,670.10

(2) Classified disclosure according to bad debt accrual method

Ending balance

Category

Book balance Bad debt provision

book value

Amount Proportion (%) Amount Provision Proportion (%) Notes receivable for which bad debt provisions are made individually

Notes receivable with provision for bad debts based on portfolio 5,839,459.29 100.00 116,789.19 2.00 5,722,670.10 Of which: provision based on aging analysis method 5,839,459.29 100.00 116,789.19 2.00 5,722,670.10

Total 5,839,459.29 100.00 116,789.19 2.00 5,722,670.10

(continued table)

Opening balance

Category

Book balance Bad debt provision

book value

Amount Proportion (%) Amount Provision Proportion (%) Notes receivable for which bad debt provisions are made individually

Notes receivable with provision for bad debts on a group basis

Including: Provision based on aging analysis method

total

(3) Bad debt provisions accrued, recovered or reversed in the current period

Bad debt provisions for the current period:

Amount of changes in the current period

Category Beginning Balance Ending Balance

Provision Consolidated increase Recovery or reversal Write-off bad debt provision 116,789.19 116,789.19 Among them, the amount of bad debt provision recovery or reversal in the current period is important: None

Among them, the important write-off of bills receivable: None

The company's pledged notes receivable at the end of the period: None

Notes receivable that have been endorsed or discounted by the company at the end of the period and have not yet matured on the balance sheet date: None

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Accounts receivable

(1) Classification by nature of payment

Item Ending balance Beginning balance

Fund management fee receivable 65,710,088.14 59,612,076.30 Service fee receivable 11,630,095.25 42,236,646.14 Liquidation receivable 26,151,132.28 26,151,132.28 Electricity fee receivable 989,119,597.58 583,070,916.11 Others 548,756.67

Total 1,093,159,669.92 711,070,770.83

Less: Provision for bad debts 49,830,765.15 41,195,031.63

Book value 1,043,328,904.77 669,875,739.20

(2) Disclosure of accounts receivable by category

Ending balance

Category

Book balance Bad debt provision

book value

Amount Proportion (%) Amount Provision Proportion (%)

Accounts receivable with bad debt provisions made individually 26,151,132.28 2.39 26,151,132.28 100.00

Accounts receivable with provision for bad debts on a combined basis 1,067,008,537.64 97.61 23,679,632.87 2.22 1,043,328,904.77 Of which: provision based on aging analysis method 1,067,008,537.64 97.61 23,679,632.87 2.22 1,043,328,904.77

Total 1,093,159,669.92 100.00 49,830,765.15 4.56 1,043,328,904.77

(continued table)

Opening balance

Category

Book balance Bad debt provision

book value

Amount Proportion (%) Amount Provision Proportion (%)

Accounts receivable with bad debt provisions made individually 26,151,132.28 3.68 26,151,132.28 100.00

Accounts receivable with provision for bad debts based on portfolio 684,919,638.55 96.32 15,043,899.35 2.20 669,875,739.20 Of which: provision based on aging analysis method 684,919,638.55 96.32 15,043,899.35 2.20 669,875,739.20

Total 711,070,770.83 100.00 41,195,031.63 5.79 669,875,739.20

Provision for bad debts on an individual basis

Ending balance

Name Expected Credit Loss

Book balance Bad debt provision Aging Reason for provision

(%)

China Fortune Land Development Co., Ltd.

16,579,432.28 16,579,432.28 More than 5 years 100.00 Estimated full loss

Haikou Meilan International Airport Co., Ltd.

9,571,700.00 9,571,700.00 More than 5 years 100.00 The company is expected to suffer a full loss

Total 26,151,132.28 26,151,132.28

Provision for bad debts on a portfolio basis

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Ending balance Beginning balance

Aging

Provision ratio Provision ratio Book balance Bad debt provision Book balance Bad debt provision

(%) (%) Within 1 year (including 1 year) 1,047,817,489.05 20,944,974.77 2.00 675,570,414.82 13,511,462.77 2.00 1 to 2 years 16,311,394.36 1,631,139.44 10.00 6,928,354.78 692,835.48 10.00 2 to 3 years 1,738,417.31 521,525.19 30.00 1,911,041.90 573,312.57 30.00 3 to 4 years 654,666.87 327,333.44 50.00 281,186.63 140,593.32 50.00 4 to 5 years 463,820.05 231,910.03 50.00 205,890.42 102,945.21 50.00 More than 5 years 22,750.00 22,750.00 100.00 22,750.00 22,750.00 100.00

Total 1,067,008,537.64 23,679,632.87 2.22 684,919,638.55 15,043,899.35 2.20

(3) Bad debt provisions accrued, recovered or reversed in the current period

Bad debt provisions for the current period:

Amount of changes in the current period

Category Beginning Balance Ending Balance

Provision Consolidated increase Recovery or transfer Write-off

Bad debt provision 41,195,031.63 7,719,658.70 916,074.82 49,830,765.15 Among them, the amount of bad debt provision recovered or reversed in the current period is important: None

Important write-offs of accounts receivable: None

(4) Accounts receivable with the top five closing balances based on debtors

Proportion of total accounts receivable

Unit name Closing balance Account aging Bad debt provision

(%)

State Grid Corporation of China (including its subsidiaries

987,846,974.25 Within 1 year 90.37 19,756,939.49 belongs to Jiangsu, Henan, Anhui and other companies)

Guangzhou State-owned Assets Industry Development Equity Investment Fund

43,523,947.77 Within 1 year, 1-2 years 3.98 1,571,370.69 Golden partnership (limited partnership)

China Fortune Land Development Co., Ltd. 16,579,432.28 More than 5 years 1.52 16,579,432.28 Guangzhou Yuexiu Guanghui Phase I Equity Investment Fund

9,672,462.75 Within 1 year 0.88 193,449.26 Golden partnership (limited partnership)

Haikou Meilan International Airport Co., Ltd.

9,571,700.00 More than 5 years 0.88 9,571,700.00 Division

Total 1,067,194,517.05 97.63 47,672,891.72

Note: As of June 30, 2026, the amount of accounts receivable restricted by pledged loans and financial leases was 548,448,677.95 yuan.

Prepayment

(1) Prepayments are listed based on aging

Ending balance Beginning balance

Aging

Amount Proportion (%) Amount Proportion (%) Within 1 year (including 1 year) 116,824,842.64 93.63 121,667,588.38 95.96 1 to 2 years 4,332,483.17 3.47 3,425,258.11 2.70 2 to 3 years 2,158,825.49 1.73 1,056,651.91 0.83 More than 3 years 1,462,035.18 1.17 642,722.14 0.51

Total 124,778,186.48 100.00 126,792,220.54 100.00

Explanation on the reasons why prepayments with an aging of more than 1 year and significant amounts were not settled in a timely manner: None

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

(2) Prepayments of the top five ending balances by prepayment objects

Name of the unit that accounts for the total closing balance of prepayments Closing balance

Proportion (%)

Vision Venture Capital (Hainan) Co., Ltd. 60,000,000.00 48.09 Shanghai Xinye Trading Co., Ltd. 6,964,882.28 5.58 Huifeng Industrial (Shanghai) Co., Ltd. 4,949,048.70 3.97 Xinjiang Goans Silicon Technology Co., Ltd. 3,192,383.78 2.56 Guangdong Jinshao Law Firm 2,303,324.76 1.85

Total 77,409,639.52 62.05

Other receivables

Item Ending balance Beginning balance

Dividends receivable 233,796,096.53 367,191,019.78 Other receivables 401,763,716.30 420,895,753.10

Total 635,559,812.83 788,086,772.88

(1) Dividends receivable

Item Ending balance Beginning balance

Dividends receivable aged within one year 233,796,096.53 367,191,019.78 Among them: CITIC Securities Co., Ltd. 148,543,040.98 366,981,141.05 Beijing Enterprises Co., Ltd. 43,469,255.55

Xintian Green Energy Co., Ltd. 41,783,800.00

Wuxi Xin'an No. 6 Investment Partnership (Limited Partnership) 209,878.73

Subtotal 233,796,096.53 367,191,019.78

Less: provision for bad debts

Total 233,796,096.53 367,191,019.78

(2) Other receivables

Other receivables are classified according to the nature of the payment

Nature of payment Ending balance Beginning balance

Current accounts 159,510,574.73 217,549,973.51 Collection and payment 38,553,715.19 38,553,715.19 Guarantees and deposits 273,935,381.41 233,717,635.21 Others 10,047.14 1,480,628.21

Total 472,009,718.47 491,301,952.12

Less: Provision for bad debts 70,246,002.17 70,406,199.02

Book value 401,763,716.30 420,895,753.10

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Other receivables are classified and presented according to the bad debt accrual method

Ending balance

Category Book balance Bad debt provision

Book value ratio Provision ratio

Amount Amount

(%) (%)

Other receivables with bad debt provisions made individually 38,861,808.74 8.23 35,350,928.74 90.97 3,510,880.00 Other receivables with bad debt provisions made collectively 433,147,909.73 91.77 34,895,073.43 8.06 398,252,836.30

Total 472,009,718.47 100.00 70,246,002.17 14.88 401,763,716.30

(continued table)

Opening balance

Category Book balance Bad debt provision

Ratio Provision Ratio Book Value Amount Amount

(%) (%)

Other receivables with provision for bad debts on an individual basis 39,351,054.90 8.01 35,840,174.90 91.08 3,510,880.00 Other receivables with provision for bad debts on a group basis 451,950,897.22 91.99 34,566,024.12 7.65 417,384,873.10

Total 491,301,952.12 100.00 70,406,199.02 14.33 420,895,753.10

Aging of other receivables

Book value at the end of the period Book value at the beginning of the period

Aging

Amount Proportion (%) Amount Proportion (%) Within 1 year (including 1 year) 249,934,108.29 62.20 266,788,187.63 63.39 1 to 2 years 53,846,856.34 13.40 51,770,606.56 12.30 2 to 3 years 30,835,829.78 7.68 45,869,190.91 10.90 3 to 4 years 33,668,816.03 8.38 24,832,022.81 5.90 4 to 5 years 18,261,182.75 4.55 18,949,892.34 4.50 More than 5 years 15,216,923.11 3.79 12,685,852.85 3.01

Total 401,763,716.30 100.00 420,895,753.10 100.00

Other receivables with single provision for bad debts

expected credit loss

Debtor’s name Book balance Bad debt provision Reason for provision

Loss rate (%)

Guangzhou Yuexiu No.5 Industrial Investment Partnership

35,108,800.00 31,597,920.00 90.00 Enterprises expected to incur partial losses (limited partnership)

Chainneng Intelligent Control (Jiangsu) supply chain management company

2,531,769.80 2,531,769.80 100.00 Estimated total loss

Ltd.

Longjiang County Urban Management Comprehensive Law Enforcement Brigade 1,000,000.00 1,000,000.00 100.00 Estimated total loss

Zhejiang Tonghuashun Intelligent Technology Co., Ltd. 221,238.94 221,238.94 100.00 Estimated total loss

Total 38,861,808.74 35,350,928.74 90.97

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. 5) Bad debt provisions accrued, recovered or reversed in the current period

Bad debt provisions for the current period:

Amount of changes in the current period

Category Beginning Balance Ending Balance

Provision Consolidated increase Recovery or transfer Write-off

Bad debt provision 70,406,199.02 277,560.99 27,488.32 465,246.16 70,246,002.17 6) Other receivables actually written off in the current period

During the reporting period, the company wrote off bad debt provisions for other receivables of RMB 465,246.16.

Other receivables with top five closing balances based on debtors

Accounting for other receivables

Bad debt provision unit name at the end of the period Nature of the payment Ending balance Aging Total balance at the end of the period

Balance

Proportion of number (%)

Jinhong Holding Group Co., Ltd. Deposit and security deposit 60,000,000.00 Within 1 year 12.71 3,000,000.00 Guangzhou Yuexiu Nuocheng No. 5 Industrial Investment

Collection and payment 36,351,118.93 4 to 5 years, more than 5 years 7.70 32,790,238.93 Partnership (limited partnership)

TusEnvironmental Technology Development Co., Ltd.

Deposit and security deposit 30,000,000.00 Within 1 year 6.36 1,500,000.00 Company

Beijing Tianyi Shangjia High-tech Materials Co., Ltd.

Deposit and security deposit 30,000,000.00 Within 1 year 6.36 1,500,000.00 Co., Ltd.

Bairui Trust Co., Ltd. Deposit and security deposit 20,000,000.00 3 to 4 years 4.24 1,000,000.00 Zhejiang Bangjie Holding Group Co., Ltd.

Deposit and security deposit 20,000,000.00 Within 1 year 4.24 1,000,000.00 Company

Total 196,351,118.93 41.61 40,790,238.93

Other receivables derecognized due to transfer of financial assets

None

Amount of assets and liabilities formed by transferring other receivables and continuing to be involved

None

Contract assets

(1) Contract assets

Ending balance Beginning balance

Project

Book balance Impairment provision Book value Book balance Impairment provision Book value Contract assets 244,284.93 2,767.22 241,517.71 467,334.93 7,228.22 460,106.71

Total 244,284.93 2,767.22 241,517.71 467,334.93 7,228.22 460,106.71

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

(2) Provision for impairment of contract assets in the current period

Item Opening balance Provision for the current period Reversal for the current period Write-off/write-off for the current period Ending balance Provision for impairment of contract assets 7,228.22 -4,461.00 2,767.22

Total 7,228.22 -4,461.00 2,767.22

Non-current assets due within one year

Item Ending balance Beginning balance

Debt investments due within one year 5,705,386,247.49 5,515,735,851.62 Long-term receivables due within one year 17,622,526,976.61 20,442,992,347.85 Large-denomination certificates of deposit and interest due within one year 344,565,305.57 313,091,055.52

Total 23,672,478,529.67 26,271,819,254.99

Other current assets

Item Ending balance Beginning balance

Security deposit deposited 4,133,833,174.07 3,158,257,133.44 Taxes to be deducted and prepaid 5,049,026,117.00 5,052,090,705.60 Factoring receivables 59,636,352.48 97,310,330.88 Subrogation recovery receivable 125,328,758.67 129,807,411.87 Debt-repossessed assets 1,270,985,097.78 562,453,328.30 Related assets on the spot side of basis business 1,261,633,501.36 1,363,383,168.37 Others 1,277,904.29

Subtotal 11,900,443,001.36 10,364,579,982.75

Less: Impairment provision 145,740,907.98 150,582,663.91

Total 11,754,702,093.38 10,213,997,318.84

Note: As of June 30, 2026, the balance of standard warehouse receipts used for pledge financing by subsidiary Guangzhou Capital Management (Shanghai) Co., Ltd. (hereinafter referred to as "Guangzhou Capital") was 512,911,530.97 yuan.

Debt investment

(1) Debt investment situation

Item Ending balance Beginning balance

Debt investment 9,408,742,082.92 8,797,906,770.15

Less: Impairment provision 2,324,930,207.08 2,280,217,185.57

Less: Debt investments due within one year 5,705,386,247.49 5,515,735,851.62

Total 1,378,425,628.35 1,001,953,732.96

(2) Debt investment details

Ending balance Beginning balance

Project

Book balance Impairment provision Book value Book balance Impairment provision Book value

Bond investments 18,321,080.28 3,600,000.00 14,721,080.28 18,321,080.28 2,962,800.00 15,358,280.28

Reorganization projects 6,278,084,691.97 1,227,134,969.39 5,050,949,722.58 4,972,619,935.95 1,064,645,295.64 3,907,974,640.31

Others 3,112,336,310.67 1,094,195,237.69 2,018,141,072.98 3,806,965,753.92 1,212,609,089.93 2,594,356,663.99

Total 9,408,742,082.92 2,324,930,207.08 7,083,811,875.84 8,797,906,770.15 2,280,217,185.57 6,517,689,584.58

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

(3) Provision for impairment losses

The first stage The second stage The third stage

Provision for bad debts Total

Expected credit losses for the next 12 months, expected credit losses for the entire duration, expected credit losses for the entire duration

Period credit losses (no credit impairment occurred) (credit impairment occurred)

Balance on January 1, 2026 5,682,400.31 83,739,130.31 2,190,795,654.95 2,280,217,185.57 Balance on January 1, 2026 in the current period

--Transfer to the third stage -63,423,241.38 63,423,241.38

Provisions for the current period 10,368,500.00 34,344,521.51 44,713,021.51

Balance on June 30, 2026 16,050,900.31 20,315,888.93 2,288,563,417.84 2,324,930,207.08

Long-term receivables

(1) Long-term receivables

Item Ending balance Beginning balance

Long-term lease receivables 63,922,071,650.80 58,962,378,550.14 Less: Unrealized financing income 9,039,259,201.40 7,355,618,403.60 Interest receivable 493,745,078.46 589,842,421.36

Subtotal 55,376,557,527.86 52,196,602,567.90

Less: Bad debt provision 865,767,616.17 832,489,577.01 Less: Long-term receivables due within one year 17,622,526,976.61 20,442,992,347.85

Total 36,888,262,935.08 30,921,120,643.04

(2) Bad debt provision accrual

The first stage The second stage The third stage

Bad debt provisions Expected credit for the next 12 months Expected credit losses for the entire duration Expected credit losses for the entire duration Total

Loss on use (no credit impairment occurred) (credit impairment occurred)

Balance on January 1, 2026 539,351,651.01 103,283,334.89 189,854,591.11 832,489,577.01 Balance on January 1, 2026

This issue

--Transfer to the second stage -2,492,602.22 2,492,602.22

--Transfer to the third stage -256,422.79 256,422.79

Provision for the current period 37,857,843.27 -8,480,655.64 3,412,049.55 32,789,237.18 Other changes 488,801.98 488,801.98

Balance on June 30, 2026 574,949,271.25 97,295,281.47 193,523,063.45 865,767,616.17

During the reporting period, the principal of long-term receivables transferred from the first stage to the second stage was RMB 222,511,513.55, and the impairment provision was RMB 2,492,602.22. The corresponding additional impairment provision was 1,723,393.7 yuan. 9 yuan; the principal of 23,401,844.19 yuan and the impairment provision of 256,422.79 yuan were transferred from the first stage to the third stage, and the corresponding additional impairment provision was 4,578,840.43 yuan; there were no major transfers in other stages.
As of June 30, 2026, the amount of long-term receivables restricted by pledge is 28,779,193,952.15 yuan.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Long-term equity investment

Changes in increases and decreases in the current period Impairment opening balance Provision Closing balance Prepare investee Other comprehensive income adjustment recognized under the equity method Announcement of cash distribution

(Book value) Additional investment Decrease in investment Other changes in equity Impairment Others (Book value) Ending investment gains and losses Dividends or profits

Prepare balance

1. Joint ventures

Shenzhen Shengyue Real Estate Development Co., Ltd.

2,157,339,237.15 12,603,832.21 1,712,717.63 2,171,655,786.99 Co., Ltd.

Guangdong Fanxin (Guangzhou) Investment Partnership

6,550,951.17 2,160,920.82 218,997.78 4,609,028.13 Partnership (limited partnership)

Lishui Qirui Enterprise Management Partnership

1,599,598.58 242,581.40 -300.90 1,356,716.28 Enterprise (limited partnership)

Xiamen Baizhou Guangzi Investment Partnership

70,000,000.00 1,622,157.55 1,622,157.55 70,000,000.00 Enterprise (limited partnership)

Subtotal 2,165,489,786.90 82,603,832.21 2,403,502.22 3,553,572.06 1,622,157.55 2,247,621,531.40

2. Joint ventures

CITIC Securities 30,627,554,546.60 1,939,037,665.46 -239,329,839.97 -1,419,947.55 518,755,304.38 -83,164,813.53 31,723,922,306.63Beijing Holdings Co., Ltd. 4,038,057,291.34 643,004,121.28 166,331,841.75 -48,223,506.65 624,067.25 43,469,255.55 4,756,324,559.42 Yuexiu Real Estate Co., Ltd. 1,406,617,066.37 411,047,159.10 -11,766,899.70 13,905,642.57 1,819,802,968.34 Zhejiang Zheneng Green Energy Equity

Investment fund partnership (1,190,158,683.76 3,145,227.40 -128,997,157.99 1,058,016,298.37 limited partnership)

Xintian Green Energy Co., Ltd.

1,115,303,086.26 58,597,462.26 1,542,073.77 41,783,800.00 1,133,658,822.29Company

Guangzhou Yuexiu Guanghui Phase I Equity

Investment fund partnership (477,124,307.41 11,651,661.06 23,804,236.38 26,945,451.23 462,331,431.50 limited partnership)

Golden Eagle Fund Management Co., Ltd. 306,689,525.73 8,971,325.92 315,660,851.65 Guangzhou Yuehui Investment Consulting Co., Ltd.

Company (former name: Guangzhou Yuexiu 83,707,377.21 -5,421,922.97 78,285,454.24 Xiu Small Loan Co., Ltd.)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

(Book value) Additional investment Decrease in investment Other changes in equity Impairment Others (Book value) Ending investment gains and losses Dividends or profits

Preparation for Yuexiu Dual Carbon Equity Investment of South China Grid Corporation of China

Fund (Guangzhou) Partnership 32,504,000.00 17,510,000.00 -71,546.99 49,942,453.01 (Limited Partnership)

Guangzhou Yuexiu Intelligent Manufacturing Venture Capital

Fund partnership (limited partnership 10,855,204.79 10,855,204.79 units)

Subtotal 39,277,715,884.68 1,082,416,485.17 14,796,888.46 2,050,485,004.12 -273,647,704.05 746,193.47 630,953,811.16 -83,164,813.53 41,408,800,350.24Total 41,443,205,671.58 1,165,020,317.38 17,200,390.68 2,054,038,576.18 -273,647,704.05 746,193.47 632,575,968.71 -83,164,813.53 43,656,421,881.64

Note: The initial investment cost of the company's long-term equity investment in Beijing Enterprises and the company's subsidiary in Yuexiu Real Estate is less than the fair value share of the investee's identifiable net assets at the time of investment. The difference is included in non-operating income, and the long-term equity is adjusted at the same time.

The equity investment cost is 671,684,411.44 yuan.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Investment in other equity instruments

Item Ending balance Beginning balance

CICC Vipshop Outlet REITs 18,032,407.11 18,001,119.03 Since CICC Vipshop Outlet REITs is an investment that Yuexiu Industrial Investment, a subsidiary of the Company, plans to hold for a long time for strategic purposes, the Company designates it as a financial asset measured at fair value with changes included in other comprehensive income.

Investment real estate

(1) Investment real estate using cost measurement model

Projects Houses and Buildings

1. Original book value

Balance at the beginning of the period 39,709,516.36 2. Increase in the current period

(1) Others

Reduction amount in this period
Ending balance 39,709,516.36

2. Accumulated depreciation and accumulated amortization

Opening balance 25,340,941.37 2. Increase in current period 2,027,275.31 (1) Provision or amortization 2,027,275.31 (2) Others
Reduction amount in this period
Ending balance 27,368,216.68

3. Impairment provision

4. Book value

Book value at the end of the period 12,341,299.68 2. Book value at the beginning of the period 14,368,574.99
Fixed assets

Item Ending balance Beginning balance

Fixed assets 40,646,078,172.54 37,752,732,579.17

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. (1) Fixed assets

office equipment and

Items Houses and buildings Transportation equipment Electronic equipment Other general equipment Machinery and equipment Total

Prepare

1. Original book value

Opening balance 63,897,754.64 4,919,466.29 44,488,736.10 48,534,077.59 40,490,652,124.19 40,652,492,158.81 2. Increase in the current period 48,649.47 1,458,603.85 79,838.93 3,919,922,327.19 3,921,509,419.44 (1) Purchase 48,649.47 1,458,603.85 79,838.93 3,916,771,340.80 3,918,358,433.05

(2) Transfer of construction in progress 3,150,986.39 3,150,986.39 3. Decrease amount in the current period 2,698.98 357,993.31 32,646,141.68 33,006,833.97

(1) Disposal or scrapping 2,698.98 357,993.31 32,646,141.68 33,006,833.97 4. Closing balance 63,897,754.64 4,968,115.76 45,944,640.97 48,255,923.21 44,377,928,309.70 44,540,994,744.28

2. Accumulated depreciation

Opening balance 21,534,855.04 4,377,536.03 29,453,518.48 37,793,825.58 2,806,599,844.51 2,899,759,579.64 2. Increase in the current period 1,763,608.38 96,412.48 3,469,134.83 1,217,797.28 991,866,485.41 998,413,438.38

(1) Provision 1,763,608.38 96,412.48 3,469,134.83 1,217,797.28 991,866,485.41 998,413,438.38 3. Decrease amount in the current period 2,618.01 347,253.50 2,906,574.77 3,256,446.28

(1) Disposal or scrapping 2,618.01 347,253.50 2,906,574.77 3,256,446.28 4. Closing balance 23,298,463.42 4,473,948.51 32,920,035.30 38,664,369.36 3,795,559,755.15 3,894,916,571.74

3. Impairment provision

4. Book value

Book value at the end of the period 40,599,291.22 494,167.25 13,024,605.67 9,591,553.85 40,582,368,554.55 40,646,078,172.54 2. Book value at the beginning of the period 42,362,899.60 541,930.26 15,035,217.62 10,740,252.01 37,684,052,279.68 37,752,732,579.17
Projects under construction

Item Ending balance Beginning balance

Construction in progress 18,701,301.29 10,997,880.49

(1) Projects under construction

Ending balance Beginning balance

Project

Book balance Impairment provision Book value Book balance Impairment provision Book value Software engineering 18,551,471.03 18,551,471.03 10,042,197.05 10,042,197.05 Decoration project 149,830.26 149,830.26 146,452.84 146,452.84

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Ending balance Beginning balance

Project

Book balance Impairment provision Book value Book balance Impairment provision Book value Photovoltaic equipment engineering 809,230.60 809,230.60

Total 18,701,301.29 18,701,301.29 10,997,880.49 10,997,880.49

Right-of-use assets

Items Houses, buildings Machinery, transportation, office equipment Total

1. Original book value

Opening balance 387,878,464.39 530,803.31 388,409,267.70 2. Increase in the current period 2,697,242.70 239,809.12 2,937,051.82 3. Decrease in the current period 21,566,346.61 21,566,346.61 4. Closing balance 369,009,360.48 770,612.43 369,779,972.91

2. Accumulated depreciation

Balance at the beginning of the period 279,675,954.76 472,080.42 280,148,035.18 2. Increase in the current period 41,723,062.00 254,334.14 41,977,396.14

(1) Provision 41,723,062.00 254,334.14 41,977,396.14 3. Decrease amount in the current period 20,706,532.76 20,706,532.76 4. Closing balance 300,692,484.00 726,414.56 301,418,898.56

3. Impairment provision

4. Book value

Book value at the end of the period 68,316,876.48 44,197.87 68,361,074.35 2. Book value at the beginning of the period 108,202,509.63 58,722.89 108,261,232.52
Intangible assets

Project Software Land Use Rights Total

1. Original book value

Opening balance 197,466,810.29 19,464,672.10 216,931,482.39 2. Increase in the current period 14,094,579.26 14,094,579.26 (1) Purchase

(2) Transfer of construction in progress 14,094,579.26 14,094,579.26 3. Decrease amount in the current period

Closing balance 211,561,389.55 19,464,672.10 231,026,061.65

2. Accumulated amortization

Opening balance 135,608,136.58 309,451.97 135,917,588.55 2. Increase in the current period 13,904,282.99 239,279.98 14,143,562.97

(1) Provision 13,904,282.99 239,279.98 14,143,562.97 3. Decrease amount in the current period

Closing balance 149,512,419.57 548,731.95 150,061,151.52

3. Impairment provision

4. Book value

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Project Software Land Use Rights Total

Book value at the end of the period 62,048,969.98 18,915,940.15 80,964,910.13
Book value at the beginning of the period 61,858,673.71 19,155,220.13 81,013,893.84
Long-term deferred expenses

Item Beginning balance Increase in the current period Amortization amount in the current period Other decreases Closing balance Decoration expenses 14,911,470.53 218,190.12 3,353,388.08 73,915.27 11,702,357.30 Others 78,427.68 8,113.21 70,314.47

Total 14,989,898.21 218,190.12 3,361,501.29 73,915.27 11,772,671.77

Deferred income tax assets/deferred income tax liabilities

(1) Deferred income tax assets without offset

Ending balance Beginning balance

Project

Deductible temporary differences Deferred income tax assets Deductible temporary differences Deferred income tax assets Bad debt provisions 91,117,858.14 22,774,621.39 86,219,663.56 21,349,073.44 Bad debt provisions for long-term receivables 865,767,616.17 216,441,904.04 832,489,577.01 208,122,394.25 Deductible losses 400,721,684.67 100,064,333.10 376,090,684.03 93,919,918.55 Employee benefits payable 339,014,296.96 83,670,253.94 403,218,281.03 99,721,249.99 Changes in fair value of trading financial assets 2,654,935,474.83 663,733,868.71 2,378,206,969.80 594,551,530.60 Provision for impairment of contract assets 2,767.22 415.08 7,228.22 1,084.23 Provision for impairment of debt investments 2,324,930,207.08 581,232,551.77 2,280,217,185.57 570,054,296.39 Provision for impairment of subrogation recovery receivable 119,975,331.57 29,993,832.89 124,453,984.77 31,113,496.19 Temporary differences caused by offsetting internal transactions 18,592,868.89 4,648,217.22 1,474,278.01 368,569.50 Unrealized income of structured entities in the current period 300,775,582.00 75,193,895.50 146,929,625.34 36,732,406.33 Amortization difference of intangible assets 8,298,123.74 2,074,530.93 8,298,123.74 2,074,530.93 Changes in fair value of other current assets 62,365,640.34 15,591,410.09

Lease liabilities 59,369,305.09 14,842,326.27 80,942,581.23 20,235,645.37 Impairment deducted in subsequent years 174,722,706.25 43,680,676.56 174,722,706.25 43,680,676.56 Withheld expenses 293,820,022.67 73,455,005.67 208,538,675.16 52,134,668.80 Difference in fixed assets depreciation tax 51,220,413.08 12,805,103.28 51,220,413.08 12,805,103.28 Changes in fair value of derivative financial instruments 77,464,343.25 19,366,085.82 Others 54,597,202.86 13,649,300.72 83,283,128.13 20,820,782.03

Total 7,820,227,101.56 1,953,852,247.16 7,313,777,448.18 1,827,051,512.26

(2) Deferred income tax liabilities without offset

Ending balance Beginning balance

Project

Taxable temporary differences Deferred income tax liabilities Taxable temporary differences Deferred income tax liabilities Unrealized income of structured entities for the current period 638,257,983.24 159,564,495.81 315,246,182.53 78,811,545.63 Changes in fair value of trading financial assets 677,150,151.72 169,287,537.93 471,710,986.39 117,927,746.61

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Ending balance Beginning balance

Project

Taxable temporary differences Deferred income tax liabilities Taxable temporary differences Deferred income tax liabilities Amortization difference of intangible assets 6,705,075.80 1,676,268.95 15,996,165.22 3,999,041.31 Changes in fair value of derivative financial instruments 39,344,458.87 9,836,114.72

Right-of-use assets 57,817,555.03 14,454,388.76 78,346,285.06 19,586,571.22 Difference in depreciation tax on fixed assets 169,352,420.85 42,338,105.23 145,298,015.45 36,324,503.88 Changes in fair value of other current assets 71,533,031.56 17,883,257.89 Effect of enjoying interests in joint ventures 4,296,612,067.82 1,074,153,016.96 3,888,222,508.84 972,055,627.21 Others 45,154,267.05 4,871,287.76 14,467,918.03 3,616,979.51

Total 5,930,393,980.38 1,476,181,216.12 5,000,821,093.08 1,250,205,273.26

(3) Deferred income tax assets or liabilities presented on a net basis after offsetting

Deferred income tax assets and liabilities Deferred income tax assets and liabilities after offset Deferred income tax assets and liabilities Deferred income tax assets or items after offset

Offset amount at the end of the period or liability balance at the end of the period Debt offset amount at the end of the previous period Debt balance at the end of the previous period Deferred income tax assets 1,042,944,954.14 910,907,293.02 985,702,900.23 841,348,612.03 Deferred income tax liabilities 1,042,944,954.14 433,236,261.98 985,702,900.23 264,502,373.03

(4) Details of deferred income tax assets not recognized

Item Ending balance Beginning balance

Deductible temporary differences 191,154,619.20 186,046,254.11 Deductible losses 3,719,147,975.78 3,286,858,433.62

Total 3,910,302,594.98 3,472,904,687.73

(5) Deductible losses that have not been recognized as deferred income tax assets will expire in the following years

Year Ending balance Beginning balance

2026 565,691,236.65 565,691,236.65 2027 662,885,540.72 662,885,540.72 2028 705,234,276.49 705,234,276.49 2029 640,828,402.29 640,828,402.29 2030 712,218,977.47 712,218,977.47 2031 432,289,542.16

Total 3,719,147,975.78 3,286,858,433.62

Other non-current assets

Item Ending balance Beginning balance

Futures membership 1,400,000.00 1,400,000.00 Certificates of deposit and interest 332,976,356.20 439,910,555.54 Others 6,839,622.65

Total 334,376,356.20 448,150,178.19

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Detailed statement of asset impairment provisions

Increase in this period Decrease in this period

Item Beginning balance Closing balance

Provision for the current period Consolidated increase Other transfers Reversal Write-off/write-off Other decreases

Provision for bad debts of accounts receivable 41,195,031.63 7,719,658.70 916,074.82 49,830,765.15 Provision for bad debts of other receivables 70,406,199.02 277,560.99 27,488.32 465,246.16 70,246,002.17 Provision for impairment of contract assets 7,228.22 -4,461.00 2,767.22 Provision for bad debts of long-term receivables 832,489,577.01 32,789,237.18 507,831.48 19,029.50 865,767,616.17 Provision for impairment of debt investments 2,280,217,185.57 44,713,021.51 2,324,930,207.08 Provision for impairment of subrogation receivables 124,453,984.77 -9,374,991.21 4,896,338.01 119,975,331.57 Provision for impairment of factoring receivables 966,961.62 -363,102.73 603,858.89 Provision for impairment of foreclosed assets 25,161,717.52 25,161,717.52 Provision for bad debts of notes receivable 116,789.19 116,789.19 Other impairment provisions 89,126.13 4,142.41 93,268.54

Total 3,374,987,011.49 75,877,855.04 943,563.14 5,404,169.49 465,246.16 19,029.50 3,456,728,323.50

Note: Other transfers in this period mainly include the receipt of long-term receivables of RMB 507,831.48 written off in previous years and subrogation recovery receivables of RMB 4,896,338.01. Other decreases are due to exchange rate translation differences.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Assets whose ownership or use rights are restricted

Item Closing book value Reason for restriction

Monetary funds 460,237,218.94 Please see Note 5.1 for details

Accounts receivable 456,666,132.52 Pledged loans

Accounts receivable 91,782,545.43 Finance lease

Other current assets 512,911,530.97 Please see Note V. 10 for details

Fixed assets 3,447,209,316.04 Mortgage loans

Fixed assets 361,907,008.47 Financial lease

Long-term receivables 28,779,193,952.15 Pledged loans

Trading financial assets 2,153,473,129.75 Please see Note 5.3 for details

Yuexiu New Energy Project Company Equity 1,668,410,000.00 Pledged Loan

Investment in other equity instruments 18,032,407.11 Restricted fund shares

Total 37,949,823,241.38

Note: (1) A total of 279 subsidiaries of the Company have pledged their right to charge future electricity charges. Among them, some of the subsidiaries also pledged the photovoltaic power station equipment held by 158 subsidiaries as collateral or Yuexiu New Energy pledged the equity of 55 subsidiaries to borrow from banks.

(2) The Company’s 14 subsidiaries pledge their future electricity fee charging rights and the equity of new energy project companies as pledges, and hold photovoltaic power station equipment as collateral for financial leasing.

Short-term borrowing

Borrowing category Closing balance Opening balance

Pledged loans 111,335,856.00 Guaranteed loans 1,508,667,063.24 918,242,974.66 Credit loans 12,049,614,965.33 7,141,250,521.31

Total 13,558,282,028.57 8,170,829,351.97

Note: As of the end of the reporting period, the company had no overdue short-term loans.

Trading financial liabilities

Item Ending balance Beginning balance

Other equity 3,128,941,967.67 1,756,672,050.84 Derivative financial liabilities 77,464,343.25

Total 3,128,941,967.67 1,834,136,394.09

Notes payable

Category Ending balance Beginning balance

Bank acceptance bill 1,718,101,922.29 1,950,703,253.14 Commercial acceptance bill 110,000,000.00

Total 1,718,101,922.29 2,060,703,253.14

Note: As of the end of the reporting period, the company had no bills payable that were due and unpaid.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Accounts payable

Item Ending balance Beginning balance

Service fee 457,600,928.05 442,209,917.66 Equipment payment 359,442,263.75 1,320,479.21 Rent 33,631,343.25 33,423,514.26 Goods payment 185,462.26 2,539,425.47 Others 475,079.49 1,162,563.98

Total 851,335,076.80 480,655,900.58

Advance payments

(1) Presentation of advance receipts

Item Ending balance Beginning balance

Advances for the disposal of non-performing assets 2,792,108,212.61 2,440,864,150.65 Advances for the sale of materials and commodities 48,004,856.28 61,706,142.12 Others 1,298,249.67 558,066.60

Total 2,841,411,318.56 2,503,128,359.37

Contract liabilities

Item Ending balance Beginning balance

Contract liabilities 12,740,440.20 10,549,336.81

Employee compensation payable

(1) Presentation of employee benefits payable

Item Opening balance Increase in the current period Decrease in the current period Ending balance Short-term compensation 616,103,838.78 351,975,250.38 397,954,209.91 570,124,879.25 Post-employment benefits - defined contribution plan 10,269,847.77 45,258,629.66 41,978,323.79 13,550,153.64 Dismissal benefits 171,697.24 2,322,338.57 2,494,035.81

Total 626,545,383.79 399,556,218.61 442,426,569.51 583,675,032.89

(2) Presentation of short-term remuneration

Item Opening balance Increase in the current period Decrease in the current period Ending balance wages, bonuses, allowances and subsidies 604,690,842.06 302,205,293.20 348,389,529.68 558,506,605.58 Employee welfare fees 48,134.82 5,706,805.02 5,706,805.02 48,134.82 Social insurance premiums 196,560.12 13,277,439.60 13,287,325.32 186,674.40 Among them: medical and maternity insurance premiums 189,811.22 12,651,830.51 12,661,369.01 180,272.72

Work injury insurance premium 6,748.90 625,609.09 625,956.31 6,401.68 Housing provident fund 497,382.00 23,040,954.34 23,283,681.34 254,655.00

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Item Beginning balance Increase in the current period Decrease in the current period Ending balance of trade union funds and employee education funds 10,670,919.78 6,909,138.84 6,451,249.17 11,128,809.45 Other short-term compensation 835,619.38 835,619.38

Total 616,103,838.78 351,975,250.38 397,954,209.91 570,124,879.25

(3) Display of defined contribution plan

Item Beginning balance Increase in the current period Decrease in the current period Ending balance Basic pension insurance 337,441.76 26,331,769.10 26,349,129.34 320,081.52 Unemployment insurance premium 10,588.25 1,449,201.56 1,449,744.08 10,045.73 Enterprise annuity payment 9,921,817.76 17,456,909.00 14,158,700.37 13,220,026.39 Others 20,750.00 20,750.00

Total 10,269,847.77 45,258,629.66 41,978,323.79 13,550,153.64

Taxes payable

Item Ending balance Beginning balance

Value-added tax 49,750,059.50 15,758,959.64 Corporate income tax 132,630,334.99 178,771,820.91 Personal income tax 2,039,367.53 4,745,283.84 Urban maintenance and construction tax 660,139.85 378,983.79 Education fee surcharge (including local education fee surcharge) 479,017.82 255,137.62 Other taxes and fees 4,215,035.15 5,600,314.65

Total 189,773,954.84 205,510,500.45

Other payables

Item Ending balance Beginning balance

Dividends payable 787,123,485.39 8,792,182.81 Other payables 1,990,187,204.97 1,516,716,253.69

Total 2,777,310,690.36 1,525,508,436.50

(1) Dividends payable

Item Ending balance Beginning balance

Dividends on ordinary shares 787,123,485.39 8,792,182.81

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

(2) Other payables

List other payables according to the nature of the payment

Item Ending balance Beginning balance

Deposits and security deposits 489,979,651.54 624,449,351.59 Unit transactions 1,473,028,934.37 847,530,033.59 Withheld expenses 17,013,251.08 30,619,899.98 Others 10,165,367.98 14,116,968.53

Total 1,990,187,204.97 1,516,716,253.69

Non-current liabilities due within one year

Item Ending balance Beginning balance

Long-term borrowings due within one year 17,510,733,354.26 27,070,936,447.74 Bonds payable due within one year 14,543,793,535.97 17,040,961,030.24 Long-term payables due within one year 558,332,053.01 506,113,450.73 Lease liabilities due within one year 47,422,330.26 69,692,280.24

Total 32,660,281,273.50 44,687,703,208.95

(1) Long-term borrowings due within one year

Item Ending balance Beginning balance

Pledged loans 6,748,471,961.48 8,236,190,234.55 Guaranteed loans 281,281,330.66 1,038,930,548.15 Credit loans 10,480,980,062.12 17,795,815,665.04

Total 17,510,733,354.26 27,070,936,447.74

(2) Long-term payables due within one year

Item Ending balance Beginning balance

Security deposit payable 189,879,488.91 209,054,707.90 Finance lease payment payable 368,452,564.10 297,058,742.83

Total 558,332,053.01 506,113,450.73

Other current liabilities

(1) Classification of other current liabilities

Item Ending balance Beginning balance

Short-term financing payable 5,823,435,174.26 5,138,764,629.14 Margin payable 5,132,544,183.23 4,610,565,289.40 Futures risk reserves 56,649,209.95 54,215,055.40 Output tax to be reversed 852,442,728.01 814,083,757.94

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Item Ending balance Beginning balance

Others 1,043,497.14

Total 11,866,114,792.59 10,617,628,731.88

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

(2) Situation of short-term financing payable

Coupon interest

Bond Name Bond Calculation of face value based on par value Issue date Rate Issuance amount Beginning balance Issuance in this period Amortization of premium and discount Repayment in this period Closing balance term Interest

(%)

short term

2025-2-17 to 1.91-

Financing 1,100,000,000.00 356 1,100,000,000.00 1,118,668,693.79 1,851,342.47 88,621.28 1,120,608,657.54

2025-2-25 2.08

coupon

day

super short

2025-6-12 to 1.40-

Future financing 9,200,000,000.00 270 9,200,000,000.00 4,020,095,935.35 5,200,000,000.00 35,799,013.75 -91,172.11 3,432,368,602.73 5,823,435,174.26

2026-6-25 1.70

securities

day

Total 10,300,000,000.00 10,300,000,000.00 5,138,764,629.14 5,200,000,000.00 37,650,356.22 -2,550.83 4,552,977,260.27 5,823,435,174.26

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Insurance contract reserves

Item Ending balance Beginning balance

Unexpired liability reserve 5,161,489.33 5,161,489.33 Guarantee compensation liability reserve 62,176,851.35 62,176,851.35

Total 67,338,340.68 67,338,340.68

Long-term borrowing

(1) Classification of long-term loans

Item Ending balance Beginning balance

Pledge loans 38,855,631,452.35 34,731,112,158.59 Guaranteed loans 2,781,281,330.66 3,622,820,523.47 Credit loans 42,003,243,905.79 42,357,496,870.15

Subtotal 83,640,156,688.80 80,711,429,552.21

Less: Long-term borrowings due within one year 17,510,733,354.26 27,070,936,447.74

Total 66,129,423,334.54 53,640,493,104.47

Bonds payable

(1) Bonds payable

Item Ending balance Beginning balance

Corporate bonds 21,465,167,342.18 20,715,985,776.72 Medium-term notes 18,463,751,786.33 20,149,931,665.97 Asset-backed securities 8,513,323,299.01 8,285,740,164.50 Asset-backed notes 340,029,055.56 653,903,972.37

Subtotal 48,782,271,483.08 49,805,561,579.56

Less: Bonds payable due within one year 14,543,793,535.97 17,040,961,030.24

Total 34,238,477,947.11 32,764,600,549.32

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

(2) Increases and decreases in bonds payable (excluding preference shares, perpetual bonds and other financial instruments classified as financial liabilities)

Bond type Bond name Face value Issue date Bond term Issuance amount

Guangzhou Yuexiu Financial Leasing Co., Ltd. will publicly issue carbon-neutral green corporate bonds to professional investors in 2023

Corporate bonds 1,000,000,000.00 2023/8/8 3 years 1,000,000,000.00 (first installment)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will publicly issue carbon-neutral green corporate bonds to professional investors in 2024

Corporate bonds 1,000,000,000.00 2024/5/23 5 years 1,000,000,000.00 (first issue) (Variety 2)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will publicly issue corporate bonds (second phase) to professional investors in 2024

Corporate bonds 700,000,000.00 2024/6/13 5 years 700,000,000.00 (Type 2)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will publicly issue corporate bonds (second phase) to professional investors in 2024

Corporate bonds 300,000,000.00 2024/6/13 3 years 300,000,000.00 (Variety 1)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will publicly issue carbon-neutral green corporate bonds to professional investors in 2024

Corporate bonds 700,000,000.00 2024/7/25 5 years 700,000,000.00 (third phase) (Variety 2)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will publicly issue carbon-neutral green corporate bonds to professional investors in 2024

Corporate bonds 300,000,000.00 2024/7/25 3 years 300,000,000.00 (third installment) (Variety 1)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will publicly issue carbon-neutral green corporate bonds to professional investors in 2025

Corporate Bond 400,000,000.00 2025/10/24 5 years 400,000,000.00 (Rural Revitalization) (Climate Theme) (First Issue) (Variety 2)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will publicly issue carbon-neutral green corporate bonds to professional investors in 2025

Corporate Bonds 200,000,000.00 2025/10/24 10 years 200,000,000.00 (Rural Revitalization) (Climate Theme) (First Issue) (Variety Three)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will publicly issue carbon-neutral green corporate bonds to professional investors in 2025

Corporate Bonds 400,000,000.00 2025/10/24 3 years 400,000,000.00 (Rural Revitalization) (Climate Theme) (First Issue) (Variety One)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2023

Corporate bonds 400,000,000.00 2023/4/4 5 years 400,000,000.00 (first issue) (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2023

Corporate bonds 400,000,000.00 2023/4/4 3 years 400,000,000.00 (first issue) (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2023

Corporate bonds 500,000,000.00 2023/7/21 3 years 500,000,000.00

(Second issue) (Variety 1)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond type Bond name Face value Issue date Bond term Issuance amount

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2024 (the first

Corporate bonds 300,000,000.00 2024/3/21 5 years 300,000,000.00 period) (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2024 (the first

Corporate bonds 600,000,000.00 2024/3/21 3 years 600,000,000.00 period) (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2024

Corporate bonds 1,200,000,000.00 2024/7/29 10 years 1,200,000,000.00 (first issue) (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2025

Corporate bonds 800,000,000.00 2025/4/23 3 years 800,000,000.00 (first issue) (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2025

Corporate bonds 700,000,000.00 2025/6/9 10 years 700,000,000.00 (Second tranche) (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2025

Corporate bonds 300,000,000.00 2025/6/9 3 years 300,000,000.00 (Second tranche) (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2025

Corporate bonds 600,000,000.00 2025/10/16 2 years 600,000,000.00 (third installment) (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2025

Corporate bonds 500,000,000.00 2025/11/17 5 years 500,000,000.00 (Fourth issue) (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2025

Corporate bonds 900,000,000.00 2025/11/17 2 years 900,000,000.00 (Fourth issue) (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2026

Corporate bonds 500,000,000.00 2026/1/29 2 years 500,000,000.00 (first issue) (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2026

Corporate bonds 800,000,000.00 2026/5/18 10 years 800,000,000.00 (second phase)

Guangzhou Yuexiu Financial Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2021

Corporate bonds 1,000,000,000.00 2021/1/18 3+2 years 1,000,000,000.00 (first installment)

Guangzhou Yuexiu Financial Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2021

Corporate bonds 1,000,000,000.00 2021/4/16 3+2 years 1,000,000,000.00

(Second issue)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond type Bond name Face value Issue date Bond term Issuance amount

Guangzhou Yuexiu Financial Holding Group Co., Ltd. will publicly issue corporate bonds to professional investors in 2021

Corporate bonds 500,000,000.00 2021/8/12 5+2 years 500,000,000.00

(Third issue) (Variety 2)

Corporate Bonds Guangzhou Asset Management Co., Ltd. publicly issues corporate bonds to professional investors in 2021 (Second Phase) 1,000,000,000.00 2021/7/9 3+2 years 1,000,000,000.00

Guangzhou Asset Management Co., Ltd. will publicly issue corporate bonds (first phase) to professional investors in 2022 (product

Corporate bonds 500,000,000.00 2022/1/11 5 years 500,000,000.00

Kind 2)

Corporate bonds Guangzhou Asset Management Co., Ltd. will publicly issue corporate bonds to professional investors in 2023 (first phase) 1,000,000,000.00 2023/5/23 3+2 years 1,000,000,000.00 Corporate bonds Guangzhou Asset Management Co., Ltd. will publicly issue corporate bonds to professional investors in 2023 (second phase) 500,000,000.00 2023/8/22 5 years 500,000,000.00 corporate bonds Guangzhou Asset Management Co., Ltd. publicly issues corporate bonds to professional investors in 2023 (third phase) 500,000,000.00 2023/12/8 3 years 500,000,000.00 corporate bonds Guangzhou Asset Management Co., Ltd. publicly issues corporate bonds to professional investors in 2024 (first phase) 500,000,000.00 2024/2/29 5 years 500,000,000.00

Guangzhou Asset Management Co., Ltd. will publicly issue corporate bonds (second phase) to professional investors in 2024 (product

Corporate bonds 700,000,000.00 2024/7/11 5 years 700,000,000.00 (kind one)

Guangzhou Asset Management Co., Ltd. will publicly issue corporate bonds (third phase) to professional investors in 2024 (product

Corporate bonds 800,000,000.00 2024/8/27 5 years 800,000,000.00 (kind one)

Guangzhou Asset Management Co., Ltd. will publicly issue corporate bonds (first phase) to professional investors in 2025 (product

Corporate bonds 600,000,000.00 2025/4/17 5 years 600,000,000.00 (kind one)

Guangzhou Asset Management Co., Ltd. will publicly issue corporate bonds (first phase) to professional investors in 2026 (product

Corporate bonds 1,000,000,000.00 2026/4/1 3 years 1,000,000,000.00

species one)

Corporate bonds Guangzhou Yuexiu Industrial Investment Co., Ltd. will publicly issue corporate bonds to professional investors in 2023 (first phase) 500,000,000.00 2023/3/17 3+2 years 500,000,000.00 Corporate bonds Guangzhou Yuexiu Industrial Investment Co., Ltd. will publicly issue corporate bonds to professional investors in 2023 (second phase) 500,000,000.00 2023/6/21 3+2 years 500,000,000.00 corporate bonds Guangzhou Yuexiu Industrial Investment Co., Ltd. publicly issues corporate bonds to professional investors in 2023 (third phase) 500,000,000.00 2023/9/21 3 years 500,000,000.00

Guangzhou Yuexiu Industrial Investment Co., Ltd. will publicly issue corporate bonds (first phase) to professional investors in 2024

Corporate bonds 500,000,000.00 2024/3/22 5 years 500,000,000.00 (Type 2)

Guangzhou Yuexiu Industrial Investment Co., Ltd. will publicly issue corporate bonds (first phase) to professional investors in 2025

Corporate bonds 500,000,000.00 2025/12/11 3 years 500,000,000.00

(Variety 1)

Corporate bonds Guangzhou Yuexiu Industrial Investment Co., Ltd. will publicly issue corporate bonds to professional investors in 2026 (first phase) 450,000,000.00 2026/4/15 3 years 450,000,000.00

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond type Bond name Face value Issue date Bond term Issuance amount Corporate bonds Guangzhou Yuexiu Industrial Investment Co., Ltd. publicly issues corporate bonds to professional investors in 2026 (second phase) 500,000,000.00 2026/6/8 5 years 500,000,000.00 medium-term notes Guangzhou Yuexiu Financial Leasing Co., Ltd. 2023 third-phase medium-term notes 700,000,000.00 2023/9/18 3 years 700,000,000.00 medium-term notes Guangzhou Yuexiu Financial Leasing Co., Ltd. 2024 first-phase medium-term notes (Type 2) 400,000,000.00 2024/3/15 5 years 400,000,000.00 medium-term notes Guangzhou Yuexiu Financial Leasing Co., Ltd.'s 2024 first phase of medium-term notes (variety one) 400,000,000.00 2024/3/15 3 years 400,000,000.00 medium-term notes Guangzhou Yuexiu Financial Leasing Co., Ltd.'s 2024 second phase of green medium-term notes (variety two) 700,000,000.00 2024/6/20 5 years 700,000,000.00 Medium-term notes Guangzhou Yuexiu Financial Leasing Co., Ltd. 2024 second-phase green medium-term notes (Variety 1) 500,000,000.00 2024/6/20 3 years 500,000,000.00 Medium-term notes Guangzhou Yuexiu Financial Leasing Co., Ltd. 2025 first-phase medium-term notes 800,000,000.00 2025/3/12 5 years 800,000,000.00 medium term notes Shanghai Yuexiu Financial Leasing Co., Ltd. 2025 first phase green medium term notes 500,000,000.00 2025/3/18 3 years 500,000,000.00 medium term notes Guangzhou Yuexiu Financial Leasing Co., Ltd. 2025 second phase medium term notes (Type 2) 300,000,000.00 2025/5/21 5 years 300,000,000.00 Medium term notes Guangzhou Yuexiu Financial Leasing Co., Ltd. 2025 second term medium term notes (Type 1) 400,000,000.00 2025/5/21 3 years 400,000,000.00 Medium term notes Guangzhou Yuexiu Financial Leasing Co., Ltd.’s 2025 third phase of medium-term notes (Type 2) 300,000,000.00 2025/8/8 5 years 300,000,000.00 Medium-term notes Guangzhou Yuexiu Financial Leasing Co., Ltd.’s 2025 third phase of medium-term notes (Type 1) 500,000,000.00 2025/8/8 3 years 500,000,000.00 Medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023 first-phase medium-term notes 1,000,000,000.00 2023/3/8 3 years 1,000,000,000.00 Medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023 second-phase medium-term notes 500,000,000.00 2023/4/3 3-year 500,000,000.00 medium-term note Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023 third-term medium-term note 500,000,000.00 2023/4/3 5-year 500,000,000.00 medium-term note Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023 fourth-term medium-term note (Type 2) 300,000,000.00 2023/5/24 5 years 300,000,000.00 Medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023 fourth-term medium-term notes (Type 1) 300,000,000.00 2023/5/24 3 years 300,000,000.00 Medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd.’s 2023 fifth-term medium-term note (Type 2) 300,000,000.00 2023/7/19 5 years 300,000,000.00 Medium-term note Guangzhou Yuexiu Capital Holding Group Co., Ltd.’s 2023 fifth-term medium-term note (Type 1) 300,000,000.00 2023/7/19 3 years 300,000,000.00 Medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2024 first-phase medium-term notes (Type 2) 300,000,000.00 2024/1/18 10-year 300,000,000.00 medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2024 first-phase medium-term notes (Type 1) 300,000,000.00 2024/1/18 5 years 300,000,000.00

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond type Bond name Face value Issue date Bond term Issuance amount Medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2024 second-phase medium-term notes (Variety 2) 700,000,000.00 2024/5/21 10 years 700,000,000.00 Medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2024 second-phase medium-term notes (Variety 1) 800,000,000.00 2024/5/21 5 years 800,000,000.00 medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2025 first-phase medium-term notes (Type 2) 400,000,000.00 2025/2/18 15 years 400,000,000.00 medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd.'s 2025 first phase of medium-term notes (Type 1) 600,000,000.00 2025/2/18 10 years 600,000,000.00 medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd.'s 2025 second phase of medium-term notes 500,000,000.00 2025/7/22 10 years 500,000,000.00 Medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 first-phase medium-term notes (Type 2) 200,000,000.00 2026/1/19 5 years 200,000,000.00 Medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 first-phase medium-term notes (Type 1) 200,000,000.00 2026/1/19 3 years 200,000,000.00 Medium term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 second medium term notes (Type 2) 200,000,000.00 2026/1/20 5 years 200,000,000.00 Medium term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd.’s 2026 second phase of medium-term notes (Type 1) 200,000,000.00 2026/1/20 3 years 200,000,000.00 medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd.’s 2026 third phase of medium-term notes 500,000,000.00 2026/3/5 3 years 500,000,000.00 Medium-term notes Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 fourth-phase medium-term notes (Type 2) 500,000,000.00 2026/4/1 5 years 500,000,000.00 Medium-term notes Guangzhou Yuexiu Financial Holding Group Co., Ltd. 2021 second-phase medium-term notes 500,000,000.00 2021/6/1 5 years 500,000,000.00 medium term notes Guangzhou Yuexiu Financial Holding Group Co., Ltd. 2021 third term medium term notes 500,000,000.00 2021/6/16 5 years 500,000,000.00 medium term notes Guangzhou Asset Management Co., Ltd. 2023 first term medium term notes 1,000,000,000.00 2023/4/6 3 years 1,000,000,000.00 Medium-term notes Guangzhou Asset Management Co., Ltd. 2024 first-phase medium-term notes 1,000,000,000.00 2024/1/15 3 years 1,000,000,000.00 Medium-term notes Guangzhou Asset Management Co., Ltd.’s second tranche of medium-term notes in 2024 (variety two) 700,000,000.00 2024/3/4 5 years 700,000,000.00 medium-term notes Guangzhou Asset Management Co., Ltd.’s second tranche of medium-term notes in 2024 (variety one) 300,000,000.00 2024/3/4 3 years 300,000,000.00 Medium-term notes Guangzhou Asset Management Co., Ltd. 2024 third-phase medium-term notes 1,000,000,000.00 2024/8/2 5 years 1,000,000,000.00 Medium-term notes Guangzhou Asset Management Co., Ltd. 2025 first-phase medium-term notes 1,000,000,000.00 2025/1/6 5 years 1,000,000,000.00 medium-term notes Guangzhou Asset Management Co., Ltd. 2026 first-phase medium-term notes 500,000,000.00 2026/5/18 5-year 500,000,000.00 medium-term notes Guangzhou Yuexiu Industrial Investment Co., Ltd. 2024 first-phase medium-term notes (Kechuang Notes) 660,000,000.00 2024/1/10 3 years 660,000,000.00 Medium term notes Guangzhou Yuexiu Industrial Investment Co., Ltd. 2024 second term medium term notes (Kechuang Notes) 500,000,000.00 2024/6/3 5 years 500,000,000.00

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond type Bond name Face value Issue date Bond term Issuance amount Medium-term notes Guangzhou Yuexiu Industrial Investment Co., Ltd. 2025 first-phase technological innovation bond 340,000,000.00 2025/8/12 5 years 340,000,000.00 asset-backed notes Guangzhou Yuexiu Financial Leasing Co., Ltd. 2023 first-phase small and micro asset-backed notes 1,166,000,000.00 2023/8/14 284-1290 days 1,166,000,000.00 Asset-backed notes Guangzhou Yuexiu Financial Leasing Co., Ltd. 2024 first-phase small and micro asset-backed notes 1,030,000,000.00 2024/5/14 286-740 days 1,030,000,000.00 Asset-backed notes Guangzhou Yuexiu Financial Leasing Co., Ltd. 2024 second-phase small and micro asset-backed notes 869,000,000.00 2024/7/23 369-916 days 869,000,000.00 Asset-backed notes Guangzhou Yuexiu Financial Leasing Co., Ltd. 2025 first-phase asset-backed notes 627,000,000.00 2025/1/14 193-1471 days 627,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 10th Green Asset Support Special Plan 944,000,000.00 2023/6/21 371-1009 days 944,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 11th Green Asset Support Special Plan 924,000,000.00 2023/7/28 334-972 days 924,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 12th Green Asset Support Special Plan 968,000,000.00 2023/9/12 377-1049 days 968,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng Phase 13 Asset Support Special Plan (Sustainable Linking) 990,000,000.00 2024/1/25 368-1005 days 990,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng Phase 14 Asset Support Special Plan 910,000,000.00 2024/3/8 325-1054 days 910,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng Phase 16 Green Asset Support Special Plan 872,000,000.00 2024/4/16 377-1015 days 872,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 17th Green Asset Support Special Plan (Sustainable Linking) 888,000,000.00 2024/8/16 346-1074 days 888,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 18th Green Asset Support Special Plan 1,140,000,000.00 2024/9/6 325-1419 days 1,140,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 19th Green Asset Support Special Plan 902,000,000.00 2024/9/24 336-1066 days 902,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 20th Green Asset Support Special Plan 740,000,000.00 2024/10/29 363-1000 days 740,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 22nd Green Asset Support Special Plan 686,000,000.00 2024/11/15 346-1075 days 686,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 21st Green Asset Support Special Plan 731,000,000.00 2024/11/22 339-976 days 731,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 23rd Green Asset Support Special Plan 920,000,000.00 2025/2/14 315-1046 days 920,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 24th Green Asset Support Special Plan (Rural Revitalization) 765,000,000.00 2025/4/11 259-990 days 765,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 25th Carbon-neutral Green Asset Support Special Plan (Rural Revitalization) 779,000,000.00 2025/5/23 339-979 days 779,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 26th Carbon-Neutral Green Asset Support Special Plan (Rural Revitalization) 691,000,000.00 2025/6/18 281-1013 days 691,000,000.00

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond type Bond name Face value Issue date Bond term Issuance amount

CITIC Securities-Yuexiu Leasing Kunpeng 29th Carbon Neutral Green Asset Support Special Plan (Rural Revitalization/Strategic New

Asset-backed securities 909,000,000.00 2025/8/19 311-1042 days 909,000,000.00 (Xing)

CITIC Securities-Yuexiu Leasing Kunpeng 28th Carbon Neutral Green Asset Support Special Plan (Rural Revitalization) (Strategy

Asset-backed securities 1,028,000,000.00 2025/9/12 381-1018 days 1,028,000,000.00

Emerging sexuality)

Asset-backed securities CITIC Securities - Yuexiu Leasing Kunpeng's 30th carbon-neutral green asset support special plan 938,000,000.00 2025/10/21 342-1071 days 938,000,000.00 Asset-backed securities CITIC Securities - Yuexiu Leasing Kunpeng's 31st carbon-neutral green asset support special plan 936,000,000.00 2025/11/14 346-1077 days 936,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 32nd Carbon Neutral Green Asset Support Special Plan (Climate Theme) 929,000,000.00 2026/1/16 314-1046 days 929,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 33rd Carbon Neutral Green Asset Support Special Plan (Climate Theme) 917,000,000.00 2026/3/10 353-1084 days 917,000,000.00 Asset-backed securities CITIC Securities - Yuexiu Leasing Kunpeng 34th Carbon Neutral Green Asset Support Special Plan (Climate Theme) 899,000,000.00 2026/4/14 318-1049 days 899,000,000.00 Asset-backed Securities CITIC Securities - Yuexiu Leasing Kunpeng 35th Carbon Neutral Green Asset Support Special Plan (Climate Theme) 876,000,000.00 2026/5/27 364-915 days 876,000,000.00 Asset-backed securities CITIC Securities-Yuexiu Leasing Kunpeng 36th Green Asset Support Special Plan 811,000,000.00 2026/06/17 343-1076 days 811,000,000.00

Subtotal 74,435,000,000.00 74,435,000,000.00

Total 74,435,000,000.00 74,435,000,000.00

(continued table)

Bond name Opening balance Issued in this period Accrual of interest based on face value Amortization of premiums and discounts Repayment in this period Closing balance Guangzhou Yuexiu Financial Leasing Co., Ltd. 2023 For professional investors

1,012,482,374.10 15,818,904.12 164,031.86 1,028,465,310.08 Investors publicly issue carbon-neutral green corporate bonds (first phase)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will open to professional investors in 2024

Investors publicly issue carbon-neutral green corporate bonds (first phase) 1,015,314,840.97 12,942,739.72 93,513.00 26,100,000.00 1,002,251,093.69 (Variety 2)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will open to professional investors in 2024

709,035,550.81 8,504,520.56 155,404.79 17,150,000.00 700,545,476.16 Investors publicly issue corporate bonds (second phase) (Variety 2)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

303,665,299.57 3,406,767.14 46,782.12 6,870,000.00 300,248,848.83 Investors publicly issue corporate bonds (second phase) (Variety 1)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will open to professional investors in 2024

Investors publicly issue carbon-neutral green corporate bonds (third phase) 706,433,238.12 7,810,273.97 65,459.10 714,308,971.19 (Variety 2)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will open to professional investors in 2024

Investors publicly issue carbon-neutral green corporate bonds (third phase) 302,666,663.23 3,183,616.42 46,782.12 305,897,061.77 (Variety 1)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will open to professional investors in 2025

Investors publicly issue carbon-neutral green corporate bonds (Rural Zhenxing) (Climate Theme) (First Issue) (Variety 2)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will open to professional investors in 2025

Investors publicly issue carbon-neutral green corporate bonds (Rural Zhenxing) (Climate Theme) (First Issue) (Variety Three)

Guangzhou Yuexiu Financial Leasing Co., Ltd. will open to professional investors in 2025

Investors publicly issue carbon-neutral green corporate bonds (Rural Zhenxing) (Climate Theme) (First Issue) (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023

Public issuance of corporate bonds to professional investors (first phase) 410,385,560.01 7,101,150.68 26,841.53 14,320,000.00 403,193,552.22 (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023

Public issuance of corporate bonds to professional investors (first phase) 409,254,656.79 3,279,452.03 65,891.18 412,600,000.00

(Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023

Public issuance of corporate bonds to professional investors (second phase) 506,305,928.92 7,215,205.48 85,107.00 513,606,241.40 (Variety 1)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond name Opening balance Issued in the current period Interest accrued based on face value Amortization of premiums and discounts Repayment in the current period Closing balance Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2024 Targeted exclusively

Publicly issued corporate bonds (first phase) by industrial investors (variety 306,497,310.76 4,239,863.02 28,436.66 8,550,000.00 302,215,610.44 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. Targets Professionals in 2024

Publicly issued corporate bonds (first phase) by industrial investors (variety 612,390,383.46 8,003,671.22 96,976.09 16,140,000.00 604,351,030.77 one)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2024

Public issuance of corporate bonds to professional investors (first phase) 1,211,460,007.98 14,817,205.48 44,879.42 1,226,322,092.88 (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2025

Public issuance of corporate bonds to professional investors (first phase) 809,905,413.78 7,537,534.28 117,870.08 15,200,000.00 802,360,818.14 (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2025

Public issuance of corporate bonds to professional investors (second phase) 708,659,062.34 8,226,821.92 25,761.74 16,590,000.00 700,321,646.00 (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2025

Public issuance of corporate bonds to professional investors (second phase) 302,782,480.76 2,677,808.20 44,221.92 5,400,000.00 300,104,510.88 (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2025

Public issuance of corporate bonds to professional investors (third phase) 601,769,802.02 5,504,383.52 140,412.18 607,414,597.72 (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2025

Public issuance of corporate bonds to professional investors (the fourth phase) 500,703,755.44 4,909,315.10 42,754.40 505,655,824.94 (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2025

Public issuance of corporate bonds to professional investors (the fourth phase) 901,103,705.52 8,033,424.66 210,261.70 909,347,391.88 (Variety 1)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond name Opening balance Issued in the current period Interest accrued based on face value Amortization of premiums and discounts Repaid in the current period Ending balance Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 face value

Public issuance of corporate bonds to professional investors (first phase) 500,000,000.00 3,633,150.68 -409,061.42 503,224,089.26 (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026

800,000,000.00 2,233,643.84 -793,715.00 801,439,928.84 Public issuance of corporate bonds to professional investors (second phase)

Guangzhou Yuexiu Financial Holding Group Co., Ltd. 2021 Annual Report

52,014,789.93 115,595.31 -57,069.14 52,073,316.10

Public issuance of corporate bonds to professional investors (first tranche)

Guangzhou Yuexiu Financial Holding Group Co., Ltd. 2021 Annual Report

101,760,274.00 739,726.00 102,500,000.00

Public issuance of corporate bonds to professional investors (second phase)

Guangzhou Yuexiu Financial Holding Group Co., Ltd. 2021 Annual Report

Public issuance of corporate bonds to professional investors (third phase) 506,761,138.41 8,727,671.23 54,528.52 515,543,338.16 (Variety 2)

Guangzhou Asset Management Co., Ltd. for professional investors in 2021

10,089,106.83 93,227.38 10,182,334.21 Public issuance of corporate bonds (second phase)

Guangzhou Asset Management Co., Ltd. for professional investors in 2022

516,467,511.76 8,479,726.02 46,730.91 17,100,000.00 507,893,968.69 Publicly issued corporate bonds (first phase) (Variety 2)

Guangzhou Asset Management Co., Ltd. for professional investors in 2023

1,019,219,029.84 12,458,630.13 122,340.03 1,031,800,000.00

Public issuance of corporate bonds (first tranche)

Guangzhou Asset Management Co., Ltd. for professional investors in 2023

505,493,320.38 7,934,246.57 46,730.91 513,474,297.86 Public issuance of corporate bonds (second phase)

Guangzhou Asset Management Co., Ltd. for professional investors in 2023

500,766,743.30 7,884,657.55 77,899.05 508,729,299.90 Public issuance of corporate bonds (third phase)

Guangzhou Asset Management Co., Ltd. for professional investors in 2024

511,815,883.34 7,165,616.46 46,756.51 14,450,000.00 504,578,256.31 Public issuance of corporate bonds (first phase)

Guangzhou Asset Management Co., Ltd. for professional investors in 2024

707,263,476.63 8,087,972.62 65,459.10 715,416,908.35 Publicly issued corporate bonds (second phase) (Variety 1)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond name Opening balance Issued in this period Accrual of interest based on face value Amortization of premiums and discounts Repayment in this period Closing balance Guangzhou Asset Management Co., Ltd. 2024 For professional investors

805,934,333.65 9,243,397.26 74,810.39 815,252,541.30 Publicly issued corporate bonds (third phase) (Variety 1)

Guangzhou Asset Management Co., Ltd. for professional investors in 2025

608,313,192.63 6,248,219.16 65,459.10 12,600,000.00 602,026,870.89 Publicly issued corporate bonds (first phase) (Variety 1)

Guangzhou Asset Management Co., Ltd. for professional investors in 2026

1,000,000,000.00 4,425,683.06 -923,392.10 1,003,502,290.96 Publicly issued corporate bonds (first tranche) (Variety 1)

Guangzhou Yuexiu Industrial Investment Co., Ltd. will open to professional investors in 2023

513,137,121.81 3,847,534.24 47,535.63 466,750,000.00 50,282,191.68 Investors publicly issue corporate bonds (first phase)

Guangzhou Yuexiu Industrial Investment Co., Ltd. will open to professional investors in 2023

507,950,576.09 7,473,972.59 75,451.32 515,500,000.00

Investors publicly issue corporate bonds (second phase)

Guangzhou Yuexiu Industrial Investment Co., Ltd. will open to professional investors in 2023

504,266,083.15 7,810,273.97 82,573.00 512,158,930.12 Investors publicly issue corporate bonds (third phase)

Guangzhou Yuexiu Industrial Investment Co., Ltd. will open to professional investors in 2024

510,648,025.22 7,041,643.82 49,534.75 14,200,000.00 503,539,203.79 Investors publicly issue corporate bonds (first phase) (Variety 2)

Guangzhou Yuexiu Industrial Investment Co., Ltd. will open to professional investors in 2025

500,070,759.63 5,082,876.72 82,497.72 505,236,134.07 Investors publicly issue corporate bonds (first phase) (Variety 1)

Guangzhou Yuexiu Industrial Investment Co., Ltd. will open to professional investors in 2026

450,000,000.00 1,724,054.80 -418,824.07 451,305,230.73 Investors publicly issue corporate bonds (first phase)

Guangzhou Yuexiu Industrial Investment Co., Ltd. will open to professional investors in 2026

500,000,000.00 551,506.85 -493,979.20 500,057,527.65 Investors publicly issue corporate bonds (second phase)

Guangzhou Yuexiu Financial Leasing Co., Ltd. 2023 Third Phase

706,037,653.36 11,559,205.46 567,108.36 718,163,967.18 notes

Guangzhou Yuexiu Financial Leasing Co., Ltd. 2024 First Phase

409,523,018.95 6,049,863.02 117,603.17 12,200,000.00 403,490,485.14 notes (Variety 2)

Guangzhou Yuexiu Financial Leasing Co., Ltd. 2024 First Phase

408,498,725.59 5,415,123.30 -212,871.52 10,920,000.00 402,780,977.37 notes (Variety 1)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond name Opening balance Issued in this period Interest accrued on face value Amortization of premiums and discounts Repayment in this period Closing balance Guangzhou Yuexiu Financial Leasing Co., Ltd. 2024 Second Phase Green

708,237,568.91 7,983,835.62 -290,783.14 16,100,000.00 699,830,621.39 medium-term notes (Variety 2)

Guangzhou Yuexiu Financial Leasing Co., Ltd. 2024 Second Phase Green

505,680,191.17 5,504,383.54 219,534.88 11,100,000.00 500,304,109.59 medium-term notes (Variety 1)

Guangzhou Yuexiu Financial Leasing Co., Ltd. 2025 First Phase

815,632,070.28 9,719,452.08 -340,594.46 19,600,000.00 805,410,927.90 notes

Shanghai Yuexiu Financial Leasing Co., Ltd. 2025 First Phase Green

509,311,479.65 6,025,068.48 -338,806.72 12,150,000.00 502,847,741.41 medium-term notes

Guangzhou Yuexiu Financial Leasing Co., Ltd. Second Phase 2025

304,077,618.01 3,377,013.70 -148,813.63 6,810,000.00 300,495,818.08 Notes (Type 2)

Guangzhou Yuexiu Financial Leasing Co., Ltd. Second Phase 2025

404,700,385.59 3,907,616.46 -198,418.19 7,880,000.00 400,529,583.86 notes (Variety 1)

Guangzhou Yuexiu Financial Leasing Co., Ltd. 2025 Third Phase

302,281,043.70 3,079,479.46 112,277.09 305,472,800.25 notes (Variety 2)

Guangzhou Yuexiu Financial Leasing Co., Ltd. 2025 Third Phase

503,468,725.80 4,710,958.92 187,128.48 508,366,813.20-term notes (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023

1,025,365,184.87 5,868,493.11 266,322.02 1,031,500,000.00

First tranche of medium-term notes

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023

511,387,361.09 4,060,273.96 152,364.95 515,600,000.00

Second tranche of medium-term notes

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023

512,792,840.50 8,678,082.20 -276,699.87 17,500,000.00 503,694,222.83 The third phase of medium-term notes

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023

306,191,624.70 5,177,095.90 -128,583.61 10,440,000.00 300,800,136.99 The fourth tranche of medium-term notes (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023

305,280,403.20 3,575,342.46 144,254.34 309,000,000.00

The fourth tranche of medium-term notes (Variety 1)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond name Opening balance Issued in the current period Interest accrued based on face value Amortization of premiums and discounts Repaid in the current period Closing balance Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023

304,407,667.97 5,058,082.18 140,346.16 309,606,096.31 The fifth tranche of medium-term notes (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2023

303,733,695.37 4,314,246.57 140,346.16 308,188,288.10 Fifth tranche of medium-term notes (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2024

309,296,669.05 4,909,315.06 -170,904.63 9,900,000.00 304,135,079.48 First tranche of medium-term notes (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2024

308,427,528.21 4,463,013.70 -170,904.63 9,000,000.00 303,719,637.28 First tranche of medium-term notes (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2024

712,185,610.79 10,066,575.34 -296,613.33 20,300,000.00 701,655,572.80 Second tranche of medium-term notes (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2024

811,719,532.19 9,719,452.08 -338,986.70 19,600,000.00 801,499,997.57 Second tranche of medium-term notes (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2025

406,562,334.60 4,760,547.92 47,671.15 9,600,000.00 401,770,553.67 First tranche of medium-term notes (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2025

609,299,588.86 6,783,780.84 116,672.90 13,680,000.00 602,520,042.60 First tranche of medium-term notes (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2025

503,300,547.93 5,677,945.19 508,978,493.12 Second tranche of medium-term notes

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026

200,000,000.00 1,810,849.33 -276,739.53 201,534,109.80 First tranche of medium-term notes (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026

200,000,000.00 1,695,452.06 -156,766.80 201,538,685.26 First tranche of medium-term notes (Variety 1)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026

200,000,000.00 1,799,671.24 -276,883.78 201,522,787.46 Second tranche of medium-term notes (Variety 2)

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026

200,000,000.00 1,676,164.40 -156,901.99 201,519,262.41 Second tranche of medium-term notes (Variety 1)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

500,000,000.00 2,900,958.91 -407,938.55 502,493,020.36 The third phase of medium-term notes

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026

500,000,000.00 2,391,780.82 -717,641.78 501,674,139.04 The fourth tranche of medium-term notes (Variety 2)

Guangzhou Yuexiu Financial Holding Group Co., Ltd. 2021

510,539,035.35 7,754,794.50 206,170.15 518,500,000.00

Second tranche of medium-term notes

Guangzhou Yuexiu Financial Holding Group Co., Ltd. 2021

510,184,211.61 8,860,273.96 205,514.43 519,250,000.00

The third tranche of medium-term notes

Guangzhou Asset Management Co., Ltd. 2023 First Tranche Medium-Term Note

1,023,650,266.18 8,896,438.38 253,295.44 1,032,800,000.00

According to

Guangzhou Asset Management Co., Ltd. 2024 First Tranche Medium-Term Note

1,026,824,367.12 14,380,821.92 467,394.31 29,000,000.00 1,012,672,583.35 data

Guangzhou Asset Management Co., Ltd. 2024 Second Tranche Medium-Term Note

714,347,774.25 9,893,013.70 325,512.80 19,950,000.00 704,616,300.75 (Variety 2)

Guangzhou Asset Management Co., Ltd. 2024 Second Tranche Medium-Term Note

306,094,760.11 3,867,945.22 140,346.34 7,800,000.00 302,303,051.67 Data (Variety 1)

Guangzhou Asset Management Co., Ltd. 2024 Third Tranche Medium-Term Note

1,005,920,786.30 10,661,643.85 374,051.96 1,016,956,482.11 data

Guangzhou Asset Management Co., Ltd. 2025 First Tranche Medium-term Note

1,016,449,023.86 9,917,808.20 374,051.96 20,000,000.00 1,006,740,884.02According to

Guangzhou Asset Management Co., Ltd. 2026 First Tranche Medium-term Note

500,000,000.00 1,236,986.30 -1,222,230.26 500,014,756.04According to

Guangzhou Yuexiu Industrial Investment Co., Ltd. 2024 First Phase

679,035,405.80 9,720,443.82 -333,309.01 19,602,000.00 668,820,540.61 Notes (Kechuang Notes)

Guangzhou Yuexiu Industrial Investment Co., Ltd. 2024 Second Phase

506,892,288.44 6,124,246.58 247,673.79 12,350,000.00 500,914,208.81 Notes (Kechuang Notes)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond name Opening balance Issued in this period Interest accrued based on face value Amortization of premiums and discounts Repayment in this period Closing balance Guangzhou Yuexiu Industrial Investment Co., Ltd. 2025 First Issue

342,594,676.61 3,490,076.72 84,255.19 346,169,008.52 Technology Innovation Bond

Guangzhou Yuexiu Financial Leasing Co., Ltd. 2023 first phase small

25,406,010.37 123,238.35 173,214.29 25,702,463.01 Micro-asset-backed notes

Guangzhou Yuexiu Financial Leasing Co., Ltd. 2024 first phase small

47,096,684.35 191,707.53 247,119.62 47,535,511.50 Micro-asset-backed notes

Guangzhou Yuexiu Financial Leasing Co., Ltd. 2024 Second Phase Small

269,760,248.11 1,738,513.63 616,420.28 169,524,231.66 102,590,950.36 Micro-asset-backed notes

Guangzhou Yuexiu Financial Leasing Co., Ltd. first tranche of capital in 2025

311,641,029.54 3,097,093.66 195,769.11 77,495,787.11 237,438,105.20 Property support notes

CITIC Securities-Yuexiu Leasing Kunpeng 10th Green Asset Support Special

12,447,146.32 83,891.78 75,022.84 12,606,060.94 plans

CITIC Securities-Yuexiu Leasing Kunpeng Phase 11 Green Asset Support Special

16,363,094.03 106,747.90 38,405.36 16,508,247.29 plans

CITIC Securities-Yuexiu Leasing Kunpeng Phase 12 Green Asset Support Special

125,278,058.11 625,587.67 140,492.54 115,939,769.71 10,104,368.61 plans

CITIC Securities-Yuexiu Leasing Kunpeng Phase 13 Asset Support Special Plan

69,536,456.20 326,227.96 170,846.90 70,033,531.06 (sustainable link)

CITIC Securities-Yuexiu Leasing Kunpeng 14th Phase Asset Support Special Plan

253,919,297.62 1,906,433.81 305,837.72 153,768,402.93 102,363,166.22

CITIC Securities-Yuexiu Leasing Kunpeng 16th Green Asset Support Special

179,506,972.67 1,081,933.61 268,211.51 128,863,868.39 51,993,249.40 plans

CITIC Securities-Yuexiu Leasing Kunpeng 17th Green Asset Support Special

218,699,527.48 144,669.70 287,851.51 164,312,650.20 54,819,398.49 plans (sustainable link)

CITIC Securities-Yuexiu Leasing Kunpeng 18th Green Asset Support Special

607,735,897.89 5,247,809.17 210,688.35 202,389,537.48 410,804,857.93 plans

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond name Opening balance Issued in this period Interest accrued based on face value Amortization of premiums and discounts Repaid in this period Ending balance CITIC Securities-Yuexiu Leasing Kunpeng 19th Green Asset Support Special

387,337,827.75 3,002,027.72 458,293.61 193,151,984.07 197,646,165.01 plans

CITIC Securities-Yuexiu Leasing Kunpeng 20th Green Asset Support Special

421,999,906.07 3,700,061.70 297,557.04 256,593,454.28 169,404,070.53 plans

CITIC Securities-Yuexiu Leasing Kunpeng Phase 22 Green Asset Support Special

391,862,973.97 2,805,870.44 406,351.88 175,479,248.66 219,595,947.63 plans

CITIC Securities-Yuexiu Leasing Kunpeng Phase 21 Green Asset Support Special

392,532,577.46 3,756,008.61 139,847.94 113,911,683.73 282,516,750.28 plans

CITIC Securities-Yuexiu Leasing Kunpeng Phase 23 Green Asset Support Special

472,879,680.35 4,144,792.93 159,722.93 224,700,007.56 252,484,188.65 plans

CITIC Securities-Yuexiu Leasing Kunpeng 24th Green Asset Support Special

470,199,166.06 4,823,996.08 125,563.60 202,487,274.21 272,661,451.53 plans (rural revitalization)

CITIC Securities-Yuexiu Leasing Kunpeng Phase 25 Carbon Neutral Green Assets

419,327,263.90 2,470,067.26 589,081.96 242,880,313.21 179,506,099.91 Support special plans (rural revitalization)

CITIC Securities-Yuexiu Leasing Kunpeng Phase 26 Carbon Neutral Green Assets

490,881,961.69 4,385,623.65 115,538.63 200,464,261.14 294,918,862.83 Support special plans (rural revitalization)

CITIC Securities-Yuexiu Leasing Kunpeng Phase 29 Carbon Neutral Green Assets

743,326,835.36 5,081,480.25 140,114.29 423,399,998.06 325,148,431.84 Support special plans (rural revitalization/strategic emerging)

CITIC Securities-Yuexiu Leasing Kunpeng Phase 28 Carbon Neutral Green Assets

854,359,805.79 7,439,109.14 157,921.29 259,407,484.06 602,549,352.16 Support special plans (rural revitalization) (strategic emerging)

CITIC Securities-Yuexiu Leasing Kunpeng Phase 30 Carbon Neutral Green Assets

819,549,513.27 7,591,463.13 127,261.96 236,887,237.99 590,381,000.37 Support special plans

CITIC Securities-Yuexiu Leasing Kunpeng Phase 31 Carbon Neutral Green Assets

937,996,202.51 7,014,668.21 148,399.64 313,088,707.61 632,070,562.75Support special plans

CITIC Securities-Yuexiu Leasing Kunpeng Phase 32 Carbon Neutral Green Assets

929,000,000.00 7,841,573.69 -790,750.97 347,832,043.30 588,218,779.42 Support special plans (climate theme)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Bond name Opening balance Issued in this period Accrual of interest based on face value Amortization of premiums and discounts Repayment in this period Ending balance CITIC Securities-Yuexiu Leasing Kunpeng Phase 33 Carbon Neutral Green Assets

917,000,000.00 5,557,941.70 -827,617.55 141,062,474.62 780,667,849.53 Support special plans (climate theme)

CITIC Securities-Yuexiu Leasing Kunpeng Phase 34 Carbon Neutral Green Assets

899,000,000.00 3,744,453.26 -836,745.74 94,064,941.76 807,842,765.76 Support special plans (climate theme)

CITIC Securities-Yuexiu Leasing Kunpeng Phase 35 Carbon Neutral Green Assets

876,000,000.00 1,638,271.97 -845,291.68 876,792,980.29 Support special plans (climate theme)

CITIC Securities-Yuexiu Leasing Kunpeng Phase 36 Green Asset Support Special

811,000,000.00 634,756.17 -801,756.30 810,832,999.87 plans

Subtotal 49,805,561,579.56 9,982,000,000.00 613,440,882.50 -614,487.34 11,618,116,491.64 48,782,271,483.08

Less: Bonds payable due within one year 17,040,961,030.24 14,543,793,535.97

Total 32,764,600,549.32 9,982,000,000.00 613,440,882.50 -614,487.34 11,618,116,491.64 34,238,477,947.11

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Lease liabilities

Item Ending balance Beginning balance

Lease liabilities 72,681,672.14 114,739,859.42 Less: Unrecognized financing expenses 1,667,138.33 3,090,464.08

Lease liabilities due within one year 47,422,330.26 69,692,280.24

Total 23,592,203.55 41,957,115.10

Long-term payables

Item Ending balance Beginning balance

Long-term payables 4,831,893,151.23 3,620,937,388.96 Special payables 9,741,200.58 9,576,567.23

Total 4,841,634,351.81 3,630,513,956.19

(1) List long-term payables according to the nature of the payment

Item Ending balance Beginning balance

Security deposit payable 559,308,511.54 636,363,113.46 Finance lease payable 4,705,332,892.70 3,364,733,926.23 Others 125,583,800.00 125,953,800.00

Subtotal 5,390,225,204.24 4,127,050,839.69

Less: Long-term payables due within one year 558,332,053.01 506,113,450.73

Total 4,831,893,151.23 3,620,937,388.96

(2) Special accounts payable

Item Beginning balance Increase in the current period Decrease in the current period Ending balance Special funds for agricultural loan guarantees 5,000,000.00 5,000,000.00 Huadu District financial small loan guarantee special funds 2,375,247.19 2,375,247.19 Municipal financial small loan guarantee special funds 1,928,924.92 164,633.35 2,093,558.27 Special funds from Guangzhou Futures Exchange 272,395.12 272,395.12

Total 9,576,567.23 164,633.35 9,741,200.58

Estimated liabilities

Item Ending balance Beginning balance

Asset protection 81,250,000.00 81,250,000.00 Note: In accordance with the relevant provisions of the "Accounting Standards for Business Enterprises" and the company's accounting policies, and based on the principle of prudence, the Group evaluates the assets that are guaranteed to be provided in the "Asset Issuance Agreement" and "Asset Protection Agreement" signed with CITIC Securities and accrues estimated liabilities.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Deferred income

(1) Classification of deferred income

Item Beginning balance Increase in the current period Decrease in the current period Ending balance Government subsidy 5,850,000.00 925,000.00 4,925,000.00

(2) Government subsidy projects

New additions in this period Included in this period Asset-related/government subsidy items Beginning balance Ending balance

Amount of subsidy Amount of profit and loss Related to income Financial industry development funds of Sichuan Branch (settlement award) 1,300,000.00 325,000.00 975,000.00 Related to income Financial industry development funds of Guangdong Financial High-tech Zone (settlement award)

1,200,000.00 300,000.00 900,000.00 Income-related awards)

Financial industry development funds of Shandong Branch (residence award) 1,250,000.00 1,250,000.00 Related to income Guangzhou Futures capital increase and share expansion award 2,100,000.00 300,000.00 1,800,000.00 Related to income

Total 5,850,000.00 925,000.00 4,925,000.00 —

Share capital

Changes in the current period

Item Beginning balance Closing balance

Issuance of new shares Bonus shares Conversion of public reserve funds Others Subtotal

Total number of shares 5,017,132,462.00 5,017,132,462.00

Other equity instruments

Balance at the beginning of the period Increase during the period Decrease during the period Ending balance

Financial instruments outstanding Carrying amount Carrying amount Carrying price

Quantity Quantity Book value

value quantity value quantity value

Guangzhou Yuexiu Capital Holdings Group

Tuan Co., Ltd. 2024

Annual public issuance of renewable corporate bonds to professional investors 12,000,000.00 1,200,000,000.00 12,000,000.00 1,200,000,000.00

Voucher (first issue)

Capital reserve

Item Opening balance Increase in the current period Decrease in the current period Ending balance Equity premium 12,217,136,468.51 12,217,136,468.51 Other capital reserves -10,872,745.24 3,949,143.89 -14,821,889.13

Total 12,206,263,723.27 3,949,143.89 12,202,314,579.38

Note: (1) Other changes in capital reserves mainly include other changes in equity of the company's associates and capital reserves generated by capital increase subsidiaries.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Treasury stocks

Item Opening balance Increase in the current period Decrease in the current period Ending balance treasury shares 100,199,244.71 100,199,244.71

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Other comprehensive income

Amount incurred this period

Less: Preliminary period

Less: Included in the previous period

Item Beginning balance of the current period Before income tax, it is paid to other comprehensive income Less: income tax expense Attributable to parent after tax Attributable to less after tax Attributable to other comprehensive income at the end of the period

Amount of income transferred in the current period to several shareholders

Transferred to profit and loss in the current period

into retained earnings

1. Other comprehensive income that cannot be reclassified into profit or loss 18,307,543.45 -96,389,512.89 192,156.17 -100,931,665.64 4,349,996.58 -82,624,122.19

Among them: other comprehensive income that cannot be transferred to profit or loss under the equity method 17,254,039.89 -96,420,800.97 184,334.16 -100,945,745.28 4,340,610.15 -83,691,705.39 Others 1,053,503.56 31,288.08 7,822.01 14,079.64 9,386.43 1,067,583.20

2. Other comprehensive income that will be reclassified into profit and loss -117,143,576.39 -196,082,751.20 -7,715,366.78 -182,223,994.16 -6,143,390.26 -299,367,570.55

Including: other comprehensive income convertible to profit and loss under the equity method -10,180,319.89 -173,033,169.51 -7,715,366.78 -159,170,235.28 -6,147,567.45 -169,350,555.17 Business combination -107,129,784.09 -107,129,784.09 Foreign currency statement translation difference 166,527.59 -23,049,581.69 -23,053,758.88 4,177.19 -22,887,231.29

Total other comprehensive income -98,836,032.94 -292,472,264.09 -7,523,210.61 -283,155,659.80 -1,793,393.68 -381,991,692.74

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Surplus reserve

Item Opening balance Increase in the current period Decrease in the current period Ending balance Statutory surplus reserve 1,184,887,182.00 26,650,533.82 1,211,537,715.82 Discretionary surplus reserve 83,485,904.66 83,485,904.66

Total 1,268,373,086.66 26,650,533.82 1,295,023,620.48

General risk preparation

Item Opening balance Increase in the current period Decrease in the current period Ending balance General risk reserve 936,378,999.06 936,378,999.06

Undistributed profits

Item Amount for the current period Amount for the previous period

Undistributed profit at the end of the previous year before adjustment (restated) 12,793,367,986.48 10,839,135,934.35 Add: Adjustment to undistributed profit at the beginning of the period -4,702,485.38 Including: Change in accounting policy -4,702,485.38 Undistributed profit after adjustment 12,793,367,986.48 10,834,433,448.97 Plus: Net profit attributable to owners of the parent company for the period 2,809,943,228.14 1,558,062,290.88 Less: Withdrawal of general risk reserves

Less: Withdrawal of surplus reserve 26,650,533.82

Less: Dividends payable on ordinary shares 649,852,121.23 849,806,620.07

Undistributed profit at the end of the period 14,926,808,559.57 11,542,689,119.78

Main business income and costs

Amount for the current period Amount for the previous period

Project

revenue cost revenue cost

Income from management and disposal of non-performing assets -63,805,858.83 152,188,114.08

New energy business income 2,243,092,811.57 1,312,166,218.84 2,422,926,930.26 1,144,049,683.47

Total 2,179,286,952.74 1,312,166,218.84 2,575,115,044.34 1,144,049,683.47

Interest income and expenses

Item Amount for the current period Amount for the previous period

interest income

Interest income from deposits with banks 29,375,269.84 23,043,344.24 Interest income from financial leases 1,107,762,421.91 1,221,279,202.10 Interest income from non-performing asset management 128,021,359.86 105,491,062.79 Interest income from debt investments 976,810.56 Other interest income 1,545,122.18 5,180,570.42

Subtotal of interest income 1,266,704,173.79 1,355,970,990.11

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Item Amount for the current period Amount for the previous period

interest expense

Interest expense on customer fund deposits 7,374,269.37 5,596,098.97 Interest expense on borrowings 943,629,354.17 1,083,329,179.16 Interest expense on short-term financing 40,302,083.09 66,331,087.42 Interest expense on bonds payable 639,771,950.46 673,244,572.23 Other interest expenses 8,809,494.18 10,760,188.16

Subtotal of interest expenses 1,639,887,151.27 1,839,261,125.94 Net interest income -373,182,977.48 -483,290,135.83

Fee and commission income and expenses

Item Amount for the current period Amount for the previous period

Fee and commission income

Brokerage business income 51,757,721.78 41,107,561.99 Asset management business income 1,923,178.75 1,257,090.44 Fund management business income 58,482,088.37 69,720,556.52 Financial leasing business income 23,859,744.66 29,094,743.50 Investment consulting business income 2,435,692.87 1,681,035.89 Factoring business fee income 4,025.41 Subtotal of handling fees and commission income 138,458,426.43 142,865,013.75 Handling fees and commission expenses

Brokerage business expenses 4,646,627.00 4,114,194.77 Subtotal of handling fees and commission expenses 4,646,627.00 4,114,194.77 Net income from handling fees and commissions 133,811,799.43 138,750,818.98

Other business income and costs

Amount for the current period Amount for the previous period

Project

revenue cost revenue cost

Product sales revenue 13,110,929.21 13,019,901.23 Others 9,382,268.52 2,160,714.93 10,118,969.55 2,071,568.79

Total 9,382,268.52 2,160,714.93 23,229,898.76 15,091,470.02

Taxes and surcharges

Item Amount for the current period Amount for the previous period

Urban maintenance and construction tax 7,609,907.92 6,552,399.42 Education fee surcharge (including local education fee surcharge) 5,468,291.15 4,817,521.51 Stamp tax 9,361,655.63 8,315,296.82 Others 259,592.95 78,551.35

Total 22,699,447.65 19,763,769.10

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Sales expenses

Item Amount for the current period Amount for the previous period

Intermediary consulting fees 7,632,808.45 1,442,583.55

Management expenses

Item Amount for the current period Amount for the previous period

Employee compensation 396,711,948.44 357,949,351.97 Share-based payment 1,232,560.08 Leasing and management fees 12,344,506.00 11,189,143.02 Intermediary agency fees 41,909,875.14 35,546,097.69 Depreciation of right-of-use assets 41,977,396.14 45,741,793.89 Depreciation of fixed assets 6,546,654.82 7,123,302.75 Depreciation of investment real estate 2,027,275.31 2,027,275.31 Amortization of intangible assets 13,904,282.99 15,781,274.10 Amortization of long-term prepaid expenses 3,361,501.29 4,516,793.62 Warehousing fees 20,780,168.12 31,846,860.06 Travel expenses 13,711,671.34 11,977,096.50 Communication expenses 2,622,147.79 2,934,001.84 Office expenses 727,384.84 832,622.76 Others 22,689,156.40 21,565,987.45

Total 579,313,968.62 550,264,161.04

Research and development expenses

Item Amount for the current period Amount for the previous period

Employee compensation 2,844,270.17 2,211,668.63

Financial expenses

Item Amount for the current period Amount for the previous period

Interest expense 278,488,663.45 219,580,631.79 Less: Interest income 76,740,081.07 125,767,207.74 Exchange gains and losses 9,659,775.46 29,703,791.24 Handling fees and others 3,012,695.43 3,741,780.61

Total 214,421,053.27 127,258,995.90

Other income

Sources of other income Amount incurred in the current period Amount incurred in the previous period

Government subsidies 9,025,613.85 14,262,022.05 Personal tax fee refund 1,643,936.70 1,809,188.27

Total 10,669,550.55 16,071,210.32

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Investment income

Item Amount for the current period Amount for the previous period

Long-term equity investment income calculated using the equity method 2,054,038,576.18 1,202,176,691.38 Investment income from trading financial assets during the holding period 222,098,042.64 292,557,406.45 Investment income from disposal of trading financial assets 1,535,190,798.48 270,193,922.34 Investment income obtained during the period of holding derivative financial instruments -152,558,254.59 748,602.00 Investment income obtained during the period of disposal of derivative financial instruments -714,932.18 421,640,797.46 Investment income from disposal of spot assets of basis business 254,226,703.57 -219,464,637.72Others -1,883,417.74 -140,361.51

Total 3,910,397,516.36 1,967,712,420.40

Gains from changes in fair value

Sources of income from changes in fair value Amount incurred in the current period Amount incurred in the previous period

Trading financial assets -222,080,837.27 86,705,880.31 Derivative financial instruments 116,978,152.07 -76,790,908.32 Inventory hedged items -133,898,671.90 35,849,406.92 Trading financial liabilities -32,701,285.22 12,041,347.27

Total -271,702,642.32 57,805,726.18

Credit impairment losses

Item Amount for the current period Amount for the previous period

Impairment losses on debt investments -44,713,021.51 -140,422,580.60 Bad debt losses on long-term receivables -32,789,237.18 46,346,470.65 Impairment losses on subrogation receivables 9,374,991.21 13,878,869.06 Impairment losses on factoring receivables 363,102.73 -655,601.45Bad debt losses -8,114,008.88 -9,521,428.87Others -4,142.41 1,200.00

Total -75,882,316.04 -90,373,071.21

Asset impairment losses

Item Amount for the current period Amount for the previous period

Impairment loss on contract assets 4,461.00 -87,638.65 Loss on inventory depreciation -5,743,267.64

Total 4,461.00 -5,830,906.29

Income from asset disposal

Source of asset disposal income Amount incurred in the current period Amount incurred in the previous period

Income from disposal of fixed assets 1,631,014.32 176,633.31 Income from disposal of right-of-use assets 28,235.13 -87,168.95

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Source of asset disposal income Amount incurred in the current period Amount incurred in the previous period

Total 1,659,249.45 89,464.36

Non-operating income

Item Amount incurred in the current period Amount incurred in the previous period Amount included in non-recurring gains and losses for the current period

Profit from disposal of non-current assets 49,818.28 6,091.68 49,818.28 The investment cost is less than the identifiable net amount obtained

671,684,411.44 671,684,411.44 Income generated from the fair value of assets

Others 226,213.87 63,757.42 226,213.87

Total 671,960,443.59 69,849.10 671,960,443.59

Non-operating expenses

Item Amount incurred in the current period Amount incurred in the previous period Amount included in non-recurring gains and losses for the current period External donations 1,000,000.00

Loss on disposal of non-current assets 9,705.74 40,235.04 9,705.74 Others 1,267,910.94 1,829,694.69 1,267,910.94

Total 1,277,616.68 2,869,929.73 1,277,616.68

Income tax expenses

(1) Income tax expense schedule

Item Amount for the current period Amount for the previous period

Current income tax expense 384,540,546.65 432,961,623.36 Deferred income tax expense 84,378,384.36 -96,453,321.59

Total 468,918,931.01 336,508,301.77

(2) Adjustment process of accounting profits and income tax expenses

Item Amount incurred in this period

Total profit 4,053,810,286.76 Income tax expense calculated according to statutory/applicable tax rates 1,013,452,571.69 Impact of different tax rates applicable to subsidiaries -7,210,845.01 Impact of adjusting income tax in previous periods 14,106,427.62 Impact of non-taxable income

The impact of investment gains and losses recognized under the equity method -504,452,746.53 The impact of non-deductible costs, expenses and losses 102,789.61 The impact of using deductible losses from deferred income tax assets not recognized in the previous period

The impact of deductible temporary differences or deductible losses of deferred income tax assets not recognized in the current period 109,349,476.81 Taxable temporary differences of deferred income tax liabilities not recognized in the current period -93,384,717.93 Other tax adjustment items -63,044,025.25 Income tax expenses 468,918,931.01

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Cash flow statement items

(1) Other cash received related to operating activities

Item Amount for the current period Amount for the previous period

Principal amount received from financial leasing business 12,056,351,967.11 13,758,241,403.67 Current accounts, deposits and others received 1,629,332,009.42 622,943,750.08 Interest income received from bank deposits 144,118,682.23 106,116,621.98 Government subsidies received 8,100,613.85 13,337,022.05 Net increase in disposal of trading financial assets 48,288,841.54 -46,642,868.35 Subrogation recovery receivables received 4,478,653.20 4,253,273.17 Changes in restricted funds 10,769,992.76

Total 13,901,440,760.11 14,458,249,202.60

(2) Other cash paid related to operating activities

Item Amount for the current period Amount for the previous period

Payment of leasing fees, advertising fees and other management and sales expenses 130,458,212.91 75,702,708.85 Payment of current accounts, deposits and others 1,374,952,593.96 1,692,185,206.92 Changes in the use of restricted funds 121,819,374.19 Payment of subrogation recovery receivables 7,018,058.50

Total 1,505,410,806.87 1,896,725,348.46

(3) Receive other cash related to investment activities

Item Amount for the current period Amount for the previous period

Cash received from acquisition of project company 22,249,877.90

Total 22,249,877.90

(4) Other cash received related to financing activities

Item Amount for the current period Amount for the previous period

Received loans from related parties 3,933,741,348.00 2,572,288,219.80 Consolidated inputs from other equity holders of structured entities 1,220,050,000.00 252,960,000.00 Received external financing leasing funds 1,151,000,000.00

Total 6,304,791,348.00 2,825,248,219.80

(5) Other cash paid related to financing activities

Item Amount for the current period Amount for the previous period

Return borrowings from related parties 3,934,978,014.67 2,575,529,584.89 Pay financing expenses 53,240,852.59 26,983,073.13 Pay principal of other equity holders 210,273,547.41 217,599,918.54 Pay lease liabilities 43,957,335.42 56,679,267.19

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Payment of finance lease payments 2,158,030,577.15 451,105,044.44

Total 6,400,480,327.24 3,327,896,888.19

Supplementary information for cash flow statement

(1) Supplementary information for cash flow statement

== Amount of current period Amount of last period

1． Reconcile net profit to cash flow from operating activities:

Net profit 3,584,891,355.75 1,999,602,019.46 plus: asset and credit impairment losses 75,877,855.04 96,203,977.50 Depreciation of fixed assets and investment real estate 1,000,440,713.69 833,602,432.85 Depreciation of right-of-use assets 41,977,396.14 45,741,793.89 Amortization of intangible assets 14,143,562.97 15,883,246.68 Amortization of prepaid expenses 3,361,501.29 4,799,719.89 Losses (gains) from disposal of fixed assets, intangible assets and other long-term assets

-1,659,249.45 -89,464.36 (please fill in the column with "-")

Losses from scrapping of fixed assets (income is listed with "-") -40,112.54 34,143.36 Loss from changes in fair value (income is listed with "-") 271,702,642.32 -57,805,726.18 Interest expense 1,401,130,937.85 1,487,589,011.94 Exchange losses (income is listed with "-") 9,659,775.46 29,703,791.24 Investment losses (income is listed with "-") -3,910,397,516.36 -1,967,712,420.40 Decrease in deferred income tax assets (increase is listed with "-") -55,381,567.75 -98,564,369.82 Increase in deferred income tax liabilities (decreases are indicated with "-") 139,759,952.11 2,236,993.73 Decrease in inventories (increases are indicated with "-") 319,895,682.95 Decrease in operating receivables (increases are indicated with "-") -4,878,258,924.45 13,972,181,435.90 Increase in operating payables (decreases are listed with "-") 4,466,067,744.95 -12,379,744,864.58 Net cash flow generated from operating activities 2,163,276,067.02 4,303,557,404.05 2. Major investing and financing activities that do not involve cash receipts and payments:

New right-of-use assets in the year 2,937,051.82 72,806,519.05 3. Net changes in cash and cash equivalents:

Closing balance of cash 18,512,950,881.24 16,789,783,033.25 Less: Opening balance of cash 15,745,171,143.81 17,645,768,618.49 Add: Closing balance of cash equivalents

Less: Opening balance of cash equivalents

Net increase in cash and cash equivalents 2,767,779,737.43 -855,985,585.24

(2) Composition of cash and cash equivalents

Item Ending balance Beginning balance

Cash 18,512,950,881.24 15,745,171,143.81

Among them: bank deposits that can be used for payment at any time 18,206,769,115.64 15,113,676,094.60 other monetary funds that can be used for payment at any time 277,021,766.03 622,827,111.16 settlement reserves that can be used for payment 29,159,999.57 8,667,938.05

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Item Ending balance Beginning balance

2. Cash equivalents

Balance of cash and cash equivalents at the end of the period 18,512,950,881.24 15,745,171,143.81
Foreign currency monetary items

(1) Foreign currency monetary items

Items Foreign currency balance at the end of the period Conversion exchange rate RMB conversion balance at the end of the period

Monetary funds 154,575,142.67 Including: US dollars 6,953,689.25 6.8109 47,360,882.11 Euros 3.53 7.7671 27.41 Hong Kong dollars 123,440,484.60 0.8686 107,214,232.90

Japanese yen 5.95 0.0421 0.25 Dividends receivable 43,469,255.55 Including: Hong Kong dollars 50,048,075.00 0.8686 43,469,255.55

Short-term borrowings 2,207,303,261.39

Including: USD 14,500,000.00 6.6488 96,407,745.00 HKD 2,312,857,368.55 0.8738 2,020,895,516.39

Swiss francs 10,000,000.00 9.0000 90,000,000.00 Long-term borrowings 55,823,600.00 Including: Euro 7,000,000.00 7.9748 55,823,600.00 Note: The Group's foreign currency borrowings are translated at a fixed delivery exchange rate.

(2) Description of overseas operating entities, including for important overseas operating entities, their main overseas business location, accounting standard currency and basis for selection should be disclosed. If the accounting standard currency changes, the reasons should also be disclosed.

Item Main overseas business location Accounting standard currency The accounting standard currency is selected based on Yuexiu Financial International Hong Kong Hong Kong dollar The settlement method is mainly Hong Kong dollar

Leasing

(1) As a lessee

Item Amount incurred in the current period

Short-term rental expenses 2,482,650.32

(2) As a lessor

finance lease

Item Amount incurred in the current period

Interest income, fees and commission income from finance leases 1,131,622,166.57

Note: At the end of the reporting period, the balance of unrealized financing income minus interest receivable was 8,545,514,122.94 yuan, which was calculated using the actual interest rate method in each period during the lease term.

The full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

6. R&D expenditures

R&D expenditure

Amount for the current period Amount for the previous period

Expensed amount Capitalized amount Expensed amount Capitalized amount Employee compensation 2,844,270.17 2,211,668.63

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

7. Interests in other entities

Interests in subsidiaries

(1) Subsidiaries newly included in the scope of consolidation in this period

Shareholding ratio (%)

Subsidiary name Main place of business Registration place Nature of business How to obtain

direct indirect

Yuexiu Financial Leasing has a total of 15 companies under its subsidiaries Ship leasing 100.00 Invested in the establishment of Ningbo Yuexiu Guanghui Phase II Equity Investment Fund Partnership (Limited Partnership) Ningbo City Ningbo City Business Service Industry 25.04 Invested in the establishment of a total of 18 companies under Ningbo Yuexiu Guanghui Phase II Electricity and heat production and supply industry 100.00 Acquisition

Engage in investment activities with own funds; corporate management

Guangzhou Guangzi Hangying Investment Consulting Center (Limited Partnership) Guangzhou City Guangzhou City 100.00 Investment and establishment

management; business management consulting

Shanghai Jintengbo Enterprise Management Partnership (Limited Partnership) Shanghai City Shanghai City Enterprise management, financial consulting, etc. 98.48 Investment establishment

Business management consulting; business management; with own capital

Guangzhou Guangrui Zhicheng Investment Consulting Center (Limited Partnership) Guangzhou City Guangzhou City 100.00 Investment and establishment

Engage in investment activities

Guangzhou Guangzizhi is an investment partnership (limited partnership) (formerly known as: Guangzhou Guangrui Jun An Investment Enterprise management consulting; enterprise management; with its own capital

Guangzhou City Guangzhou City 100.00 Investment to establish a capital consulting center (limited partnership)) to engage in investment activities

Shanghai Yueguangtou No. 1 Enterprise Management Partnership (Limited Partnership) Shanghai City Shanghai City Business management, business management consulting, etc. 100.00 Investment and establishment of Gongqingcheng Yueshangxinwei Venture Capital Partnership (Limited Partnership) Jiujiang City Jiujiang City Investment and asset management 78.80 Investment and establishment

Note: The indirect shareholding ratio is the direct shareholding ratio of a subsidiary to its affiliated companies.

(2) Major second-level subsidiaries and important third-level subsidiaries included in the scope of consolidation

Shareholding ratio (%)

Subsidiary name Registered capital Main place of business Registration place Nature of business Acquisition method Direct Indirect

Venture capital investment; enterprise own capital investment; enterprise management services (involving licensed business items) Guangzhou Yuexiu Capital not under common control 7,466,704,908 yuan Guangzhou City Guangzhou City 100.00

Except for the purpose of enterprise merger, participating in the batch transfer business of non-performing assets of financial enterprises in the province (with the approval of the people of Guangdong Province)

Government Financial Affairs Office Document Operation). Asset management, asset investment and capital Guangzhou assets of enterprises under common control 7,360,598,880 yuan Guangzhou City Guangzhou City 73.44

Restructuring, mergers and investment management consulting services related to asset management, corporate management, business mergers

Financial advice and services. (Only operated by Guangzhou Asset Management Co., Ltd.)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Shareholding ratio (%)

Subsidiary name Registered capital Main place of business Registration place Nature of business Acquisition method Direct Indirect

Commodity futures brokerage; futures investment consulting; financial futures brokerage; asset management Guangzhou Futures not under common control 1,650 million yuan Guangzhou City Guangzhou City 99.03 0.97

(Excluding licensing approval items) Business merger

Investment of enterprise's own funds; project investment (excluding licensed business projects, laws and regulations

Yuexiu Industrial Investment 7,000,000,000 Yuan Guangzhou Guangzhou City Projects prohibited from operation shall not be operated); investment consulting services; venture capital; venture capital 60.00 Investment and establishment of venture capital; equity investment

Financial leasing services (limited to foreign-invested enterprises); sales of general machinery and equipment;

Wholesale of daily utensils and daily groceries; wholesale of household appliances; licensed medical devices

Yuexiu Leasing not under common control HKD 11,527.94 million Guangzhou City Guangzhou City Operation (i.e. medical treatment that can only be operated by applying for a "Medical Device Business Enterprise License" 70.06

Enterprises merging equipment, including Class III medical equipment and need to apply for the "Medical Equipment Business Enterprise License"

Class II medical devices that can only be operated with certification)

Asset management (excluding licensing approval projects); investment of enterprise’s own funds; investment management

Yuexiu Industrial Fund not under common control 100 million yuan Guangzhou City Guangzhou City Legal services; investment consulting services; entrusted management of equity investment funds (specific business projects 90.00

business combination

Subject to the approval issued by the financial management department); equity investment; equity investment management

Note: The indirect shareholding ratio is the direct shareholding ratio of a subsidiary to its affiliated companies.

(3) Important non-wholly owned subsidiaries

Name of subsidiary company Shareholding ratio of minority shareholders (%) Profit and loss attributable to minority shareholders in the current period Dividends declared to minority shareholders in the current period Balance of minority shareholders’ equity at the end of the period Guangzhou Assets 26.56 153,867,797.46 25,049,148.16 5,120,499,285.58 Yuexiu Industrial Investment 40.00 102,365,980.35 64,113,759.01 3,607,293,799.39 Yuexiu Leasing 29.94 218,398,603.85 313,798,258.74 7,634,148,075.16 Yuexiu Industrial Fund 10.00 5,992,072.35 9,731,265.28 52,592,937.45

(4) Main financial information of important non-wholly owned subsidiaries

June 30, 2026

Subsidiary name

Current assets Non-current assets Total assets Current liabilities Non-current liabilities Total liabilities Guangzhou assets 39,498,061,783.01 9,980,469,082.11 49,478,530,865.12 10,875,575,831.58 24,080,815,310.20 34,956,391,141.78

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

June 30, 2026

Subsidiary name

Current assets Non-current assets Total assets Current liabilities Non-current liabilities Total liabilities Yuexiu Industrial Investment 17,015,549,902.18 5,887,871,013.09 22,903,420,915.27 4,457,834,457.14 9,696,858,488.12 14,154,692,945.26 Yuexiu Leasing 27,708,787,464.96 75,032,684,082.49 102,741,471,547.45 29,011,877,573.19 55,213,903,909.87 84,225,781,483.06 Yuexiu Industrial Fund 852,248,741.37 34,339,014.49 886,587,755.86 305,339,008.74 100,225,577.57 405,564,586.31 Continued (1):

December 31, 2025

Subsidiary name

Current assets Non-current assets Total assets Current liabilities Non-current liabilities Total liabilities Guangzhou assets 36,615,959,358.40 9,031,675,526.94 45,647,634,885.34 13,373,718,881.79 21,271,554,419.87 34,645,273,301.66 Yuexiu Industrial Investment 15,209,667,291.75 5,670,661,292.03 20,880,328,583.78 4,464,748,864.65 8,816,721,060.78 13,281,469,925.43 Yuexiu Leasing 29,625,996,614.98 68,369,448,947.38 97,995,445,562.36 29,685,109,354.12 49,357,419,877.86 79,042,529,231.98 Yuexiu Industrial Fund 868,126,835.40 48,990,406.86 917,117,242.26 396,854,871.41 2,234,698.24 399,089,569.65 Continued (2):

Amount for the current period Amount for the previous period

Subsidiary name

Comprehensive income Operating activities Total operating income from operating activities Net profit Total operating income Net profit Total comprehensive income

Total cash flow Cash flow Guangzhou assets 68,276,809.72 467,791,040.01 445,197,942.14 -1,066,380,325.56 259,414,984.03 16,525,327.32 17,365,928.73 2,194,648,740.15 Yuexiu Industrial Investment 187,800,445.71 314,710,285.74 314,733,751.80 86,510,588.04 223,513,197.71 133,390,535.11 133,390,535.11 -1,009,941,334.36 Yuexiu Leasing 3,116,661,602.17 575,869,728.89 575,883,680.75 1,686,533,608.51 3,497,891,391.66 1,033,244,997.60 1,033,244,997.60 1,866,218,614.30 Yuexiu Industrial Fund 105,614,732.60 60,308,149.68 60,308,149.68 100,716,890.43 122,839,048.09 46,323,100.88 46,323,100.88 35,458,457.64 Note: Yuexiu Industrial Investment merged Guangzhou Yuexiu Rongtai Equity Investment Fund Partnership (Limited Partnership) and its subsidiaries under the same control in December 2025. According to the relevant provisions of the Accounting Standards for Business Enterprises, subsidiaries and businesses added to the merger of enterprises under the same control are deemed to be included in the company's scope of consolidation from the date they are both controlled by the ultimate controller. Therefore, the relevant financial statement data for the 2025 half year will be retrospectively adjusted.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. 1) Financial support or other support provided to structured entities included in the scope of consolidated financial statements

Yuexiu Leasing, a subsidiary of the Company, stipulates in accordance with the difference payment commitment letter that it shall implement the difference payment obligation for all payable and unpaid expected income and outstanding principal balance of the senior supporting securities.

Transactions in which the ownership share of the subsidiary changes and the subsidiary is still controlled

None.

Business merger not under common control

(1) Structured entities newly included in the scope of consolidation in this period

From aspects such as the degree of participation in the operations of structured entities, the company evaluates the rights enjoyed by the company through participation in the relevant activities of structured entities, the variable returns, and the ability to use the rights enjoyed to affect variable returns. As the sponsor, asset service organization and subordinated asset-backed securities holder, the company participates in the operation of structured entities and exercises control over them, so it is included in the scope of the company's consolidated financial statements. The company included 6 structured entities into the scope of consolidated financial statements in this period. As of June 30, 2026, the total book value of the assets of the above structured entities was 4.812 billion yuan, and the total book value of liabilities was 0 yuan.

Name of the structured entity newly included in the scope of consolidation Nature of entity CITIC Securities-Yuexiu Leasing Kunpeng 32nd Carbon Neutral Green Asset Support Special Plan (Climate Theme) Asset Support Special Plan CITIC Securities-Yuexiu Leasing Kunpeng 33rd Carbon Neutral Green Asset Support Special Plan (Climate Theme) Asset Support Special Plan CITIC Securities-Yuexiu Leasing Kunpeng 34th Carbon Neutral Green Asset Support Special Plan (Climate Theme) Special Asset Support Plan CITIC Securities - Yuexiu Leasing Kunpeng Phase 35 Carbon Neutral Green Asset Support Special Plan (Climate Theme) Asset Support Special Plan CITIC Securities - Yuexiu Leasing Kunpeng Phase 36 Green Asset Support Special Plan Asset Support Special Plan Daye Trust - Qixing No. 78 (Xinjingrun) Fund Trust Plan Trust Plan

Other mergers

None.

Other reductions

None.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Interests in joint arrangements or joint ventures

(1) Important joint ventures or associates

Shareholding ratio at the end of the period (%)

Joint venture or associate Mainly Accounting registration place for investment in joint venture or associate Nature of business

Company name Business location Treatment method

direct indirect

CITIC Securities Co., Ltd. Shenzhen City Shenzhen City Securities brokerage; securities underwriting and sponsorship; securities asset management, etc. 1.87 6.67 Equity method

Yuexiu Properties Co., Ltd. Hong Kong Hong Kong Real Estate Development 3.19 Equity Method

Beijing Enterprises Co., Ltd. Beijing City Beijing City Investment and Asset Management 0.72 4.44 Equity method

Xintian Green Energy Co., Ltd. Shijiazhuang Shijiazhuang New Energy 4.63 Equity method

(2) Main financial information of important associates

CITIC Securities

Project

Ending balance Beginning balance

Total assets 2,469,928,838,966.57 2,081,902,593,243.18 Total liabilities 2,112,916,450,384.58 1,756,080,209,141.24 Net assets 357,012,388,581.99 325,822,384,101.94 Of which: minority shareholders’ equity 5,976,375,444.17 5,891,941,622.98 Owner’s equity attributable to the parent company 351,036,013,137.82 319,930,442,478.96 Share of net assets calculated based on shareholding ratio 25,238,923,498.59 24,059,674,640.05 Adjustments 6,484,998,808.04 6,567,879,906.55 Including: goodwill

Unrealized gains and losses from internal transactions

Impairment provision

Others 6,484,998,808.04 6,567,879,906.55

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

CITIC Securities

Project

Ending balance Beginning balance

Book value of equity investments in associates 31,723,922,306.63 30,627,554,546.60 Fair value of equity investments with publicly quoted prices 34,536,335,403.73 34,907,239,689.41 Continued:

CITIC Securities

Project

Amount for the current period Amount for the previous period (restated)

Operating income 49,691,932,907.10 33,127,176,031.34 Net profit 23,887,522,068.03 14,190,726,126.26 Net profit from discontinued operations

Other comprehensive income -2,822,572,205.97 261,225,869.14 Total comprehensive income 21,064,949,862.06 14,451,951,995.40 Dividends received by the company from associates in the current period 737,193,404.45

Yuexiu Real Estate

Project

Ending balance Beginning balance

Total assets 365,392,065,000.00 369,744,870,000.00 Total liabilities 258,856,597,000.00 263,912,482,000.00 Net assets 106,535,468,000.00 105,832,388,000.00 Including: minority shareholders’ equity 51,097,515,000.00 51,015,128,000.00 Owner’s equity attributable to the parent company 55,437,953,000.00 54,817,260,000.00 Share of net assets calculated based on shareholding ratio 1,766,032,578.85 1,350,361,178.73 Adjustment matters 53,770,389.49 56,255,887.64 Including: goodwill

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Yuexiu Real Estate

Project

Ending balance Beginning balance

Unrealized gains and losses from internal transactions

Impairment provision

Others 53,770,389.49 56,255,887.64 Book value of equity investments in associates 1,819,802,968.34 1,406,617,066.37 Fair value of equity investments with publicly quoted prices 375,339,722.15 354,674,225.74 Continued:

Yuexiu Real Estate

Project

Amount for the current period Amount for the previous period

Operating income 36,648,532,000.00 47,573,703,000.00Net profit 883,995,000.00 2,975,616,000.00Net profit from discontinued operations

Other comprehensive income 562,855,000.00 43,170,000.00 Total comprehensive income 1,446,850,000.00 3,018,786,000.00 Dividends received by the company from associates in the current period

Xintian Green Energy

Project

Ending balance Beginning balance

Total assets 95,162,307,144.98 93,491,185,547.08 Total liabilities 63,159,397,906.55 61,988,553,350.03 Net assets 32,002,909,238.43 31,502,632,197.05 Of which: minority shareholders’ equity 6,097,464,380.14 5,984,378,736.42 Owner’s equity attributable to the parent company 25,905,444,858.29 25,518,253,460.63

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Xintian Green Energy

Project

Ending balance Beginning balance

Share of net assets calculated based on shareholding ratio 1,129,824,218.79 1,111,181,211.40 Adjustments 3,834,603.50 4,121,874.86 Including: goodwill

Unrealized gains and losses from internal transactions

Impairment provision

Others 3,834,603.50 4,121,874.86 Book value of equity investments in associates 1,133,658,822.29 1,115,303,086.26 Fair value of equity investments with publicly quoted prices 562,515,452.10 743,477,287.57 Continued:

Xintian Green Energy

Project

Amount for the current period Amount for the previous period

Total operating income 9,216,710,200.40 10,903,916,303.93 Net profit 1,411,300,059.62 1,641,111,420.41 Net profit from discontinued operations

other comprehensive income

Total comprehensive income 1,411,300,059.62 1,641,111,420.41 Dividends received by the company from associates in the current period

Beijing Enterprises

Project

Ending balance Beginning balance

Total assets 219,484,867,000.00 214,861,304,000.00 Total liabilities 114,070,467,000.00 112,126,490,000.00

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Beijing Enterprises

Project

Ending balance Beginning balance

Net assets 105,414,400,000.00 102,734,814,000.00 Including: minority shareholders’ equity 14,701,666,000.00 13,692,898,000.00 Owner’s equity attributable to the parent company 90,712,734,000.00 89,041,916,000.00 Share of net assets calculated based on shareholding ratio 4,686,872,505.14 3,957,541,904.66 Adjustments 69,452,054.28 80,515,386.68 Including: goodwill

Unrealized gains and losses from internal transactions

Impairment provision

Others 69,452,054.28 80,515,386.68 Book value of equity investments in associates 4,756,324,559.42 4,038,057,291.34 Fair value of equity investments with publicly quoted prices 1,517,472,193.44 1,606,965,362.35 continued:

Beijing Enterprises

Project

Amount for the current period Amount for the previous period

Operating income 45,004,558,000.00 44,528,870,000.00Net profit 4,651,355,000.00 4,325,727,000.00Net profit from discontinued operations

Other comprehensive income -1,011,613,000.00 708,574,000.00 Total comprehensive income 3,639,742,000.00 5,034,301,000.00 Dividends received by the enterprise from associates in the current period

Note: Relevant data of Yuexiu Real Estate and Beijing Enterprises are converted and presented based on their publicly disclosed original statement amounts (accurate to the nearest thousand yuan)

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

8. Government subsidies

Government subsidies included in deferred income

Subsidy items Beginning balance Increase in the current period Decrease in the current period Ending balance Reason for formation Sichuan Branch Financial Industry Development Fund

1,300,000.00 325,000.00 975,000.00 Income-related government subsidies (residence award)

Guangdong Financial High-tech Zone Financial Industry Development Capital

1,200,000.00 300,000.00 900,000.00 Income-related government subsidies (residence award)

Shandong Branch Financial Industry Development Fund

1,250,000.00 1,250,000.00 Income-related government subsidies (settlement award)

Guangzhou Futures capital increase and share expansion rewards 2,100,000.00 300,000.00 1,800,000.00 Income-related government subsidies

Total 5,850,000.00 925,000.00 4,925,000.00

(1) Government subsidies included in deferred income will be subsequently measured using the gross method.

The current period's carry forward is calculated as the current period's asset carry forward.

Newly added in this period Other included in profit and loss Related/subsidy items Category Opening balance Money included in profit and loss Closing balance

Presentation items of change in subsidy amount Amount of income

Project: Financial Industry of Sichuan Branch

Finance and income development funds (settlement 1,300,000.00 325,000.00 975,000.00 Other income

Grant related award)

Guangdong Financial High-tech Zone Gold

Finance and income financing industry development funds (income 1,200,000.00 300,000.00 900,000.00 Other income

Grants Related Residency Awards)

Shandong Branch Financial Industry

Finance and income development funds (settlement 1,250,000.00 1,250,000.00 Other income

Grant related award)

Guangzhou Futures increases capital and shares Finance and earnings

2,100,000.00 300,000.00 1,800,000.00 Other income

Awards Grants Related

Total 5,850,000.00 925,000.00 4,925,000.00

Government subsidies included in current profits and losses using the gross method

Included in profit or loss

Amounts included in profits and losses in the previous period. Asset-related/subsidy items. Types. Presentation items of amounts included in profits and losses in the current period.

Amount related to income

Head

Financial support funds for economic development Financial appropriation 7,400,000.00 7,100,000.00 Other income Income-related enterprise settlement incentives Financial appropriation 625,000.00 4,255,000.00 Other income Special support funds for the financial leasing industry related to income

Financial appropriation 950,000.00 Other income and income-related funds

Other financial appropriations 1,000,613.85 1,957,022.05 Other income related to income

Total 9,025,613.85 14,262,022.05

9. Risk management of financial instruments

The Group's main financial instruments include monetary funds, settlement reserves, trading financial assets, derivative financial assets, financial assets purchased under resale agreements, margin deposits, debt investments, other debt investments, short-term borrowings, short-term financing payables, trading financial liabilities, financial assets sold for repurchase, accounts receivable, other receivables, accounts payable and other payables, etc. For detailed descriptions of each financial instrument, see Note 5 of this note. The risks associated with these financial instruments and the risk management policies adopted by the Group to mitigate these risks are as follows:

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Overall risk management policy and organizational structure

Since its inception, the Group has been guided by the risk culture concept of "comprehensive risk management and steady value creation" and has built a "5+1" comprehensive risk management framework covering risk governance structure, strategy and preference, risk measurement, risk reporting, performance appraisal, and information systems. It aims to achieve the following risk management objectives: on the premise of compliance, determine a reasonable balance between risks and returns, ensure that risks are measurable, controllable, and tolerable, continue to maintain sound operations, and implement group strategies on this basis to maximize the interests of shareholders.

The Group has established a risk management organizational structure with three lines of defense: "Business - Risk Control - Internal Audit" and four levels: "Board of Directors - Management - Risk Management Department - Business Department": ① The first level is the Board of Directors and its risk and capital management committee, which are responsible for determining risk strategies and risk preferences, reviewing and approving risk capital allocation plans, basic policies and procedures for risk management, holding regular meetings to review comprehensive risk management reports, and monitoring and evaluating the comprehensiveness and effectiveness of risk management. ②The second level is the senior management, which is responsible for organizing and implementing risk management work in accordance with the established risk strategy and risk preference. The chief risk officer's responsibilities are to focus on managing substantial risks, promote the construction of a comprehensive risk management system, monitor, evaluate, and report on the overall risk management level, and provide risk management suggestions for major business decisions. ③The third level is the risk management department, which is specifically responsible for organizing and developing a comprehensive risk management working mechanism before, during and after the event. The Risk Management Department is the leading department for credit, market, and operational risk management, the Group Financial Center is the leading department for liquidity risk, and the Customer Resource Management and Collaboration Department is the leading department for reputational risk. ④The fourth level is business departments and operating agencies at all levels, which perform risk management responsibilities for their respective business and management areas. By improving the above-mentioned structure, risk management will be effectively integrated into every aspect of strategic development, resource allocation and operation management, enhance risk management capabilities, and guide the Group's intensive and sustainable development.

Various risk management objectives and policies

The risks involved in the Group's financial instruments in daily operating activities mainly include market risk, credit risk and liquidity risk. The Group's goal in risk management is to achieve an appropriate balance between risks and returns, minimize the negative impact of risks on the Group's operating performance, and maximize the interests of shareholders and other equity investors. Based on this risk management objective, the Group has formulated corresponding policies and procedures to identify and analyze these risks, set appropriate risk limits and internal control processes, and continuously monitor and mitigate the above risks through a reliable management system.

(1) Credit risk

Credit risk refers to the risk of losses caused by the failure of a borrower or counterparty to perform its obligations. The company's credit risk mainly comes from the self-operated investment, financial leasing, debt investment, financing guarantee and other businesses of its holding subsidiaries.

The company formulates clear customer and business risk policies and risk pricing access standards, continuously improves access requirements for customers, businesses and other dimensions, continues to strengthen the concentration limit control requirements for credit-like business industries, regions, customers, businesses, etc., and incorporates important indicators such as non-performing ratio, loan-to-loan ratio, provision coverage ratio, RAROC (risk-adjusted rate of return) and other into annual performance assessments (including entity ratings and debt ratings), and regularly or irregularly conducts assessments through stress tests and continuously monitors them. The company has established an internal rating system, a unified credit system, a collateral management system, an investigation, review and review system, and a post-lease, loan and guarantee management system to manage the entire process of credit risk business. The company implements dynamic risk identification, measurement and assessment for various businesses that bear credit risks, clarifies credit rating access requirements, and strengthens unified credit management, limit management and pricing access management. The company has established a credit asset risk classification system, classified asset risk categories according to customers' ability and willingness to perform, and made full provision for impairment. The company strengthens the construction of risk system and achieves strong system control of rating credit, limit and pricing access.

The carrying amount of financial assets recognized in the consolidated balance sheet. For financial instruments measured at fair value, the carrying amount reflects its risk exposure, but it is not the maximum risk exposure. The maximum risk exposure will change with changes in fair value in the future. As of the end of the current period, the Group’s maximum credit risk exposure is listed in the following table:

Project name Closing amount

Monetary funds 19,190,003,466.53 Settlement provisions 29,159,999.57 Trading financial assets 47,958,953,208.50 Accounts receivable 1,043,328,904.77 Other receivables 635,559,812.83 Other equity instrument investments 18,032,407.11 Debt investments 1,378,425,628.35 Long-term receivables 36,888,262,935.08

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Project name Closing amount

Non-current assets due within one year 23,672,478,529.67 Other current assets 4,198,219,094.76 Other non-current assets 332,976,356.20 Total maximum risk exposure 135,345,400,343.37 (2) Market risk

Market risk refers to the company's risk of business losses due to adverse changes in market prices, including interest rate risk, equity securities price risk, commodity (collateral) price risk and exchange rate risk, etc.

In order to prevent market risks, the company has taken the following measures: First, establish and improve the risk management system. Referring to the "Market Risk Management Guidelines for Commercial Banks" and other external regulatory requirements for market risk management, establish and continue to improve the market risk management system based on specific business development and new regulatory requirements; second, implement a strict authorization system. Formulate annual risk policies and risk limits, and clarify the investment types and corresponding risk limits authorized by the board of directors based on the company's risk appetite and specific business conditions. The company's management will decompose and configure business scale, risk limits and risk pricing within the scope of authorization; third, establish a multi-index risk monitoring and evaluation system. Indicators cover concentration, stop-profit and stop-loss, Sharpe ratio, value at risk, delta and other Greek values and commodity valuations, etc., and are regularly or irregularly evaluated through stress testing, sensitivity testing and other tools. The risk management department conducts real-time dynamic monitoring and risk warning of corresponding indicators to control risks within an acceptable range; fourth, pre-investment access to market risk businesses is strictly implemented. The company has established entry standards for commodities, equity investments, non-performing asset acquisitions, and other businesses, including category, industry, region, customer, and RAROC, and regularly conducts review and optimization based on market changes; fifth, it strengthens post-investment and exit management. The company establishes a management strategy centered on "expected valuation" for equity, non-performing assets and other assets, and formulates differentiated asset exit strategies. Strictly implement limits and stop-profit and stop-loss management for trading assets; sixth, proactively manage interest rate risk. Based on the analysis of future macroeconomic conditions and monetary policies as well as the interest rate risk limits, the asset and liability structure shall be appropriately adjusted in a timely manner, and the distribution of maturity dates and re-pricing dates of interest-earning assets and interest-bearing liabilities shall be adjusted to mitigate and avoid interest rate risks; seventhly, the Company shall adhere to exchange rate risk neutrality. The company's exchange rate risk remains risk-neutral, and priority is given to natural hedging through strategies and plans such as operating arrangements and settlement methods. It selects exchange rate risk management tools that match its own business capabilities and avoids complex foreign exchange derivatives. The eighth is to upgrade the system to support business. The market risk management system is upgraded to carry out valuation, risk measurement and limit management of various assets, and the system realizes ex-ante control of various risk limits through the management and control platform. The company continues to optimize the risk warning system, conducts risk monitoring on the business, and provides timely warnings on the risks of being tendered.

The Group follows the principles of stability and prudence, accurately defines, uniformly measures and prudently evaluates the market risks borne by the Group. For directional investment businesses, the Group adheres to a risk management strategy of controllable risks and moderate scale, and assumes moderate-sized risk positions; for non-directional investment businesses such as derivatives arbitrage, it adheres to a risk management strategy of small-scale cultivation and strict limits.

Interest rate risk

Interest rate risk refers to the risk of losses to the Group's business due to adverse changes in market interest rates. The Group's interest rate risk arises from interest-earning assets and interest-bearing liabilities that are affected by changes in market interest rates. The Group's interest-earning assets that are affected by changes in market interest rates are mainly debt investments, other debt investments, and long-term receivables. Interest-bearing liabilities are mainly short-term loans, short-term financing payables, long-term loans, bonds payable, long-term payables, etc. At the end of the period, the main interest rates of the Group's interest-earning assets and interest-bearing liabilities are as follows:

Item Fixed interest rate Floating interest rate Total

Debt investments 1,378,425,628.35 1,378,425,628.35 Long-term receivables 10,091,994,649.88 26,796,268,285.20 36,888,262,935.08 Non-current assets due within one year 17,283,981,731.85 6,388,496,797.82 23,672,478,529.67 Other current assets 1,547,702,263.95 2,650,516,830.81 4,198,219,094.76 Other non-current assets 332,976,356.20 332,976,356.20 Short-term borrowings 5,738,411,209.65 7,819,870,818.92 13,558,282,028.57 Notes payable 240,159,208.00 1,477,942,714.29 1,718,101,922.29 Other payables 8,506,669.44 8,506,669.44 Other current liabilities 5,823,435,174.26 5,823,435,174.26 Long-term borrowings 3,416,464,200.00 62,712,959,134.54 66,129,423,334.54 Bonds payable 34,238,477,947.11 34,238,477,947.11

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Item Fixed interest rate Floating interest rate Total

Lease liabilities 23,592,203.55 23,592,203.55 Long-term payables 4,336,880,328.60 4,336,880,328.60 Non-current liabilities due within one year 12,528,399,385.22 19,942,002,399.37 32,470,401,784.59 The Group determines the relative proportions of fixed-rate and floating-rate contracts based on the market environment at the time. The Group mainly uses value-at-risk VaR, concentration, and long-short exposure indicators, and uses measurement and monitoring indicators such as portfolio volatility, drawdown, and Sharpe ratio to measure the market risk of the portfolio.

Equity price risk

Equity securities price risk is the risk that fluctuations in the securities market lead to adverse changes in the prices of stocks and other securities products, resulting in losses to the group's business. The price risk of equity securities comes from the risks involved in the group’s investment in stocks, funds, derivatives, etc. In addition to monitoring position, transaction and profit and loss indicators, the Group mainly measures and monitors the VaR, concentration and other indicators of the securities investment portfolio in daily monitoring through the independent risk management department.

Commodity (collateral) price risk

Commodity (collateral) price risk refers to the risk of losses to the company's business due to adverse changes in the prices of various commodities (collateral). The company's commodity (collateral) price risk mainly comes from the acquisition and disposal of non-performing asset packages and over-the-counter derivatives transactions. In addition to monitoring position, transaction and profit and loss indicators, the Group mainly measures and monitors the VaR, long and short exposure, concentration, market capitalization leverage and other indicators of the commodity portfolio in daily monitoring through the independent risk management department.

Exchange rate risk

Fluctuations in exchange rates will bring certain exchange risks to the Group. The Group has fewer foreign currency assets affected by exchange rate changes, and exchange rate risks will have little impact on the Group's operating results.

(3) Liquidity risk

Liquidity risk refers to the risk that although the Group has solvency, it is unable or unable to obtain sufficient funds in a timely manner at a reasonable cost to repay due debts and fulfill other payment obligations. As of the end of the reporting period, the Group held sufficient cash and cash equivalents, as well as highly liquid financial assets such as monetary funds, short-term bank financing, treasury bonds, and China Development Bank bonds, and was able to meet foreseeable financing commitments or other payment obligations on the maturity date.

The Group implements a robust liquidity risk preference management strategy and ensures sufficient liquidity reserves and financing capabilities to prevent liquidity risks through scientific asset liability management and fund management, liquidity risk indicator monitoring and early warning and other measures and means. The Group has established a liquidity risk management framework with liquidity gap as the core indicator, and established a liquidity risk indicator system including asset-liability duration gap, capital leverage, financing concentration, maturity mismatch, and cash flow mismatch. It monitors and controls the indicators on a daily basis and maintains strong solvency by continuously expanding financing channels, rationally arranging the asset and liability structure, improving the profitability and sustainable development capabilities of various businesses, and preventing liquidity risks.

The analysis of the remaining maturity period of the financial liabilities held by the Group is as follows:

Project Within one year One to two years Two to five years More than five years Total

Financial liabilities:

Short-term borrowings 13,558,282,028.57 13,558,282,028.57 Notes payable 1,718,101,922.29 1,718,101,922.29 Accounts payable 851,335,076.80 851,335,076.80 Other payables 2,777,310,690.36 2,777,310,690.36 Non-refundable securities due within one year

32,660,281,273.50 32,660,281,273.50 Current liabilities

Other current liabilities 11,866,114,792.59 11,866,114,792.59 Long-term borrowings 23,156,089,421.91 23,495,702,648.68 19,477,631,263.95 66,129,423,334.54

Bonds payable 8,022,825,288.63 20,226,880,847.31 5,988,771,811.17 34,238,477,947.11

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Project Within one year One to two years Two to five years More than five years Total

Long-term payables 483,634,342.38 1,349,416,770.54 3,008,583,238.89 4,841,634,351.81

Lease liabilities 21,223,605.14 2,343,183.17 25,415.24 23,592,203.55

Sensitivity analysis

The Group uses sensitivity analysis techniques to analyze the possible impact of reasonable and possible changes in risk variables on current profits and losses or shareholders' equity. Since any risk variable rarely changes in isolation, and the correlation between variables will have a significant impact on the final impact of a change in a certain risk variable, the following content is based on the assumption that the change in each variable is independent.

(1) Foreign exchange risk sensitivity analysis

As of the end of the reporting period, the Group's foreign currency assets and foreign currency liabilities that are exposed to exchange rate risks accounted for a small proportion of the total assets and total liabilities when converted into RMB. With other variables unchanged, possible reasonable changes in the exchange rate will have little after-tax impact on the current profits and losses and equity.

(2) Interest rate risk sensitivity analysis

The interest rate risk sensitivity analysis is based on the following assumptions: the measured assets and liabilities at the end of the reporting period of each relevant period are held until maturity. With other variables unchanged, the impact of a 25 basis point increase or decrease in interest rates on net profit and shareholders' equity. Changes in market interest rates affect the interest income or expenses of variable interest rate financial instruments; based on the above assumptions, the impact of possible reasonable changes in floating interest rates on the Group's long-term receivables, short-term borrowings, short-term financing payables, long-term borrowings, bonds payable, long-term payables and other items, and the after-tax impact on current profits and losses and equity are as follows:

Amount for the current period Amount for the previous period

Item Impact of changes in interest rates on shareholders’ equity

Impact on net profit Impact on net profit Impact on shareholders’ equity

ring

Floating rate items increased by 25 BP -113,351,950.28 -113,351,950.28 -109,189,047.66 -109,189,047.66 Floating rate items decreased by 25 BP 113,351,950.28 113,351,950.28 109,189,047.66 109,189,047.66

Capital management

The goal of the Group's capital management policy is to ensure that the Company can continue to operate, thereby providing returns to shareholders and benefiting other stakeholders, while maintaining an optimal capital structure to reduce capital costs. In order to maintain or adjust the capital structure, the Company may adjust financing methods, adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares and other equity instruments, or sell assets to reduce debt. The Company monitors the capital structure based on the asset-liability ratio (i.e., total liabilities divided by total assets). As of June 30, 2026, the company's asset-liability ratio was 77.05% (December 31, 2025: 76.56%).

10. Fair value

According to the lowest level input value that is significant to the overall measurement in fair value measurement, the fair value hierarchy can be divided into: Level 1: Quoted prices (unadjusted) for the same assets or liabilities in active markets. Level 2: The use of observable inputs other than quoted market prices for the asset or liability in Level 1, either directly (i.e., as prices) or indirectly (i.e., as derived from prices). Level 3: The asset or liability uses any input value that is not based on observable market data (unobservable input value).

Items and amounts measured at fair value

As of June 30, 2026, assets and liabilities measured at fair value are listed as follows according to the above three levels:

First level Second level Third level

Item Total

Fair value measurement Fair value measurement Fair value measurement

1. Continuous fair value measurement

quantity

(1) Trading financial assets 1,421,977,756.21 3,649,818,252.92 42,839,191,344.79 47,910,987,353.92 1. Debt instrument investment 9,885,065.14 9,885,065.14

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Equity instrument investment 465,271,177.97 2,153,473,129.75 10,065,700,081.56 12,684,444,389.28 3. Others 956,706,578.24 1,496,345,123.17 32,763,606,198.09 35,216,657,899.50

(2) Derivative financial assets 47,965,854.58 47,965,854.58

(3) Investment in other equity instruments

18,032,407.11 18,032,407.11 capital

(4) Other current assets 1,152,246,913.65 1,152,246,913.65 1. Related to the spot side of basis business

1,152,246,913.65 1,152,246,913.65 assets

Measured at fair value on an ongoing basis

1,469,943,610.79 4,820,097,573.68 42,839,191,344.79 49,129,232,529.26

Total assets

(5) Trading financial liabilities 3,128,941,967.67 3,128,941,967.67 1. Others 3,128,941,967.67 3,128,941,967.67

(6) Derivative financial liabilities

Measured at fair value on an ongoing basis

3,128,941,967.67 3,128,941,967.67

total liabilities

For financial instruments traded in an active market, the Company determines its fair value based on active market quotations; for financial instruments not traded in an active market, the Company uses valuation techniques to determine its fair value. The valuation models used are mainly discounted cash flow models and market comparable company models. The input values of valuation technology mainly include risk-free interest rates, benchmark interest rates, exchange rates, credit spreads, liquidity premiums, lack of liquidity discounts, etc.

11. Related parties and related transactions

Information about the company’s parent company

Parent company's voting rights to the company Parent company's voting rights to the company Name of parent company Registration place Nature of business Registered capital (yuan)

Shareholding ratio (%) Ratio (%)

real estate, finance, transportation

Guangzhou Yuexiu Group Co., Ltd.

Guangzhou Tongtong Infrastructure, Food and 11,268,518,450.00 47.00 47.00 Co., Ltd.

paper making

The company's parent company directly holds 43.82% of the company's shares and indirectly holds 3.17% of the shares through its wholly-owned subsidiary Guangzhou Yuexiu Enterprise Group Co., Ltd., holding a total of 47.00% of the shares. The actual controller of the company is the State-owned Assets Supervision and Administration Commission of the Guangzhou Municipal People's Government.

Information about the company’s subsidiaries

For details on subsidiaries, please refer to the relevant content in Note "VII. 1. (2) Information on major second-level subsidiaries and important third-level subsidiaries included in the scope of consolidation".

The company’s joint ventures and associates

For details on important joint ventures and associates, please refer to the relevant content in Note "VII.5. (1) Important joint ventures or associates".

Information about other related parties of the company

Name of related party Relationship with the company

Guangzhou Yuexiu Enterprise Group Co., Ltd. Other enterprises controlled by the same controlling shareholder

Guangzhou Yuexiu Urban Construction Jones Lang LaSalle Property Services Co., Ltd. Other companies controlled by the same controlling shareholder

Yuexiu Enterprise (Group) Co., Ltd. Other enterprises controlled by the same controlling shareholder

Yuexiu Securities Co., Ltd. Other companies controlled by the same controlling shareholder

Guangzhou Yuexiu Yicheng Commercial Operation Management Co., Ltd. Other companies controlled by the same controlling shareholder

Guangzhou Jingyi Investment Development Co., Ltd. Other companies controlled by the same controlling shareholder

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Name of related party Relationship with the Company Guangzhou Yuechuang Real Estate Development Co., Ltd. Chong Hing Bank Co., Ltd., a subsidiary of the company controlled by the controlling shareholder Other companies controlled by the same controlling shareholder Guangzhou Housing Real Estate Financing Guarantee Co., Ltd. Other companies controlled by the same controlling shareholder Fengkai Yuexiu Agriculture and Animal Husbandry Co., Ltd. Other companies controlled by the same controlling shareholder Guangzhou Yuexiu Health Care Investment Partnership (Limited Partnership) Other companies controlled by the same controlling shareholder Guangzhou Yuexiu Emerging Industry Phase II Investment Fund Partnership (Limited Partnership) Other enterprises controlled by the same controlling shareholder Guangzhou Yuexiu Urban Construction International Financial Center Co., Ltd. Guangzhou Jinyao Real Estate Co., Ltd., a subsidiary of the company controlled by the controlling shareholder Shanghai Hongjia Real Estate Development Co., Ltd., a subsidiary of the company controlled by the controlling shareholder Guangzhou Jingyao Real Estate Co., Ltd., a subsidiary of the company controlled by the controlling shareholder Hangzhou Yuehui Real Estate Development Co., Ltd., a subsidiary of the company controlled by the controlling shareholder Guangzhou Yuyao Real Estate Co., Ltd., a subsidiary of the company controlled by the controlling shareholder Guangzhou Yuexiu Industrial Development Co., Ltd., a subsidiary of the company controlled by the controlling shareholder Other enterprises controlled by the same controlling shareholder Liaoning Yuexiu Huishan Holdings Co., Ltd. Other enterprises controlled by the same controlling shareholder Guangzhou Urban Construction Development Co., Ltd. Other enterprises controlled by the same controlling shareholder Guangzhou Hengyun Holding Group Co., Ltd. Shareholders holding more than 5% of the company's shares and persons acting in concert Guangzhou Yuexiu Agriculture and Animal Husbandry Food Technology Co., Ltd. Other enterprises controlled by the same controlling shareholder Chengtuo Co., Ltd. Other enterprises controlled by the same controlling shareholder Guangzhou Metro Group Co., Ltd. (hereinafter referred to as "Guangzhou Metro") Lin Zhaoyuan, a shareholder holding more than 5% of the company’s shares, is a related natural person

Li Feng related natural person

Liu Yan related natural person

Guangzhou Qingyue Real Estate Development Co., Ltd. Guangzhou Yueguan Real Estate Development Co., Ltd., a subsidiary of the company where the controlling shareholder has a shareholding. Guangzhou Yuexiu Digital Intelligence Technology Co., Ltd., a subsidiary of the company where the controlling shareholder has a shareholding. Other companies controlled by the same controlling shareholder, Wuhan Yile Industrial Development Co., Ltd. Other companies controlled by the same controlling shareholder, Yuexiu Finance Co., Ltd. Other companies controlled by the same controlling shareholder.

Related transactions

(1) Related purchasing and sales situation

List of goods purchased and services received

Name of related party Contents of related transactions Amount incurred in the current period Amount incurred in the previous period Guangzhou Yuexiu Group Co., Ltd. Guarantee fee 3,670,575.42 7,092,083.37

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Yuexiu Enterprise (Group) Co., Ltd. Guarantee fee 1,843,109.38 1,590,319.82 Guangzhou Yuexiu Urban Construction Jones Lang LaSalle Property Services Co., Ltd. Property management fee 4,674,346.14 6,096,588.20 Guangzhou Yuexiu Yicheng Commercial Operation Management Co., Ltd. Property management fee 1,115,852.38 1,298,739.51 Guangzhou Yuexiu Property Development Co., Ltd. Professional agency fee 859,264.20

Yuexiu Securities Co., Ltd. Professional institution fees 133,312.52

Other service fees, etc. 198,458.83 536,221.17

Total 12,494,918.87 16,613,952.07

Note: Related purchases are priced at fair market value.

List of goods sold and services provided

Name of related party Contents of related transactions Amount for the current period Amount for the previous period Chong Hing Bank Co., Ltd. Goods sales 1,912,778.76 Chong Hing Bank Co., Ltd. Information technology services 5,489,880.70 Guangzhou Yuexiu Enterprise Group Co., Ltd. Information technology services 239,943.40 Fengkai Yuexiu Agriculture and Animal Husbandry Co., Ltd. Electricity fee income 1,201,584.77 844,859.95 Guangzhou Yuexiu Health Care Investment Partnership (Limited Partnership) Fund Management Services 1,852,571.71 Guangzhou Yuexiu Guanghui Phase I Equity Investment Fund Partnership

Fund management services 9,124,964.83 8,861,446.39 (limited partnership)

Other service income and product sales, etc. 1,211,768.10 1,183,160.92

Total 11,538,317.70 20,384,641.83

Note: Related sales are priced at fair market value.

(2) Related leasing situation

The company serves as the lessee

Name of lessor Type of leased assets Lease-related expenses recognized in the current period Lease-related expenses recognized in the previous period Guangzhou Jinyao Real Estate Co., Ltd. House leasing 10,818,117.13 11,375,193.04 Guangzhou Jingyao Real Estate Co., Ltd. House leasing 5,217,790.54 5,387,391.07 Guangzhou Yuyao Real Estate Co., Ltd. House leasing 459,351.64 476,238.51 Guangzhou Yuexiu Urban Construction International Financial Center Co., Ltd. House leasing 15,523,015.56 16,366,014.95 Hangzhou Yuehui Real Estate Development Co., Ltd. House leasing 774,859.17 780,122.77 Shanghai Hongjia Real Estate Development Co., Ltd. House leasing 6,152,057.49 6,292,515.65 Guangzhou Yuexiu Industrial Development Co., Ltd. House rental 262,088.37 264,606.05 Wuhan Yile Industrial Development Co., Ltd. House rental 60,730.90

Total 39,268,010.80 40,942,082.04

Note: The lease-related expenses recognized during the reporting period include lease expenses, depreciation of right-of-use assets and interest expenses on lease liabilities.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. (3) Related guarantees

As of June 30, 2026, the company's related parties have provided guarantees to the company as follows:

Guarantor Guarantee amount Guarantee starting date Guarantee termination date Guangzhou Yuexiu Group Co., Ltd. 272,235,232.35 2023-6-28 2026-10-15 Guangzhou Yuexiu Group Co., Ltd. 900,000,000.00 2022-6-28 2028-6-28 Guangzhou Yuexiu Group Co., Ltd. 500,000,000.00 2022-9-2 2028-9-2 Guangzhou Yuexiu Group Co., Ltd. 600,000,000.00 2022-11-22 2028-11-22 Guangzhou Yuexiu Group Co., Ltd. 500,000,000.00 2023-8-31 2029-8-31 Guangzhou Yuexiu Group Co., Ltd. 200,000,000.00 2025-12-12 2028-12-12 Guangzhou Yuexiu Group Co., Ltd. 180,000,000.00 2026-4-16 2029-4-16 Guangzhou Yuexiu Group Co., Ltd. 200,000,000.00 2026-6-9 2031-6-9 Yuexiu Enterprise (Group) Co., Ltd. 712,211,000.00 2026-4-27 2027-4-23 Yuexiu Enterprise (Group) Co., Ltd. 312,678,000.00 2025-10-15 2026-10-14

Total 4,377,124,232.35

(4) Fund lending situation of related parties

Name of related party Lending balance Starting date Maturity date Description

Removed:

Chong Hing Bank Limited 59,000,000.00 2025-3-21 2027-3-20 Capital turnover and daily operations

Chong Hing Bank Limited 181,500,000.00 2025-9-26 2028-9-21 Capital turnover and daily operations

Chong Hing Bank Limited 60,500,000.00 2025-10-14 2028-9-21 Capital turnover and daily operations

Chong Hing Bank Limited 25,397,240.60 2025-4-21 2028-4-20 Capital turnover and daily operations

Chong Hing Bank Limited 49,944,516.47 2025-4-21 2028-4-20 Capital turnover and daily operations

Chong Hing Bank Limited 15,486,755.70 2025-5-16 2028-5-15 Capital turnover and daily operations

Chong Hing Bank Limited 36,505,680.14 2025-5-23 2028-5-22 Capital turnover and daily operations

Chong Hing Bank Limited 220,000,000.00 2026-3-20 2029-3-19 Capital turnover and daily operations

Chong Hing Bank Limited 350,000,000.00 2026-6-29 2029-6-28 Capital turnover and daily operations

Chong Hing Bank Limited 100,000,000.00 2026-3-26 2028-3-25 Capital turnover and daily operations

Chong Hing Bank Limited 17,000,000.00 2026-4-9 2028-4-8 Capital turnover and daily operations

Chong Hing Bank Limited 2,163,262.66 2026-5-11 2026-7-1 Capital turnover and daily operations

Chong Hing Bank Limited 11,306,000.00 2026-5-12 2026-7-1 Capital turnover and daily operations

Chong Hing Bank Limited 2,322,474.81 2026-5-13 2026-7-1 Capital turnover and daily operations

Chong Hing Bank Limited 6,796,182.00 2026-5-14 2026-7-1 Capital turnover and daily operations

Chong Hing Bank Limited 45,189,000.00 2026-5-14 2026-7-1 Capital turnover and daily operations

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Name of related party Lending balance Starting date Maturity date Description

Chong Hing Bank Limited 5,877,791.18 2026-5-15 2026-7-1 Capital turnover and daily operations

Chong Hing Bank Limited 55,000,000.00 2026-5-22 2026-7-1 Capital turnover and daily operations

Total 1,243,988,903.56

Note: Related fund lending is priced at fair market value.

(5) Rental interest and service fee income

Name of related party Transaction content Amount of the current period Amount of the previous period

Chong Hing Bank Co., Ltd. Interest income 25,426,340.28 14,375,383.14 Guangzhou Qingyue Real Estate Development Co., Ltd. Interest income 2,399,948.87 Guangzhou Hengyun Holding Group Co., Ltd. Interest income 969,399.06 1,866,897.19 Guangzhou Urban Construction Development Co., Ltd. Interest income 897,923.54 Shenzhen Shengyue Real Estate Development Co., Ltd. Interest income 975,459.12 2,469.94 Liaoning Yuexiu Huishan Holdings Co., Ltd. Non-performing asset management income 6,479,199.85 6,301,784.44 Others Other rental and service fee income 1,137,082.00 799,809.35

Total 34,987,480.31 26,644,216.47

Note: Related rental interest and service fees are priced at fair market value.

(6) Interest expenses of related parties

Name of related party Amount for the current period Amount for the previous period

Chong Hing Bank Co., Ltd. 14,821,825.32 13,375,449.60 CITIC Securities Co., Ltd. 5,988,949.59 6,456,945.04 Guangzhou Yuexiu Agriculture and Animal Husbandry Food Technology Co., Ltd. 414.05 5.25 Guangzhou Yuexiu Group Co., Ltd. 443,917.80 400,972.59 Yuexiu Enterprise (Group) Co., Ltd. 424,267.05 104,544.89

Total 21,679,373.81 20,337,917.37

Note: Related interest expenses are priced at fair market value. The interest expense with CITIC Securities Co., Ltd. represents the amortization of underwriting fees for corporate bonds of the Group and the interest expense on the margin.

(7) Joint investment with other related parties

Co-investor Name of the invested enterprise Amount incurred in the current period (10,000 yuan) Yuexiu Group, Guangzhou Metro, Lin Zhaoyuan, Li Feng, Liu Yan Yuexiu Real Estate 11,290 Guangzhou Hengyun Guangzhou Assets 150,000

Guangzhou Yuexiu Intelligent Manufacturing Venture Capital Fund Partnership (Limited

Guangzhou Paper Group Co., Ltd. 1,086

partnership)

Guangzhou Yueqi Yuexiu Industrial Investment 60,000

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Co-investor Name of invested enterprise Amount incurred in the current period (10,000 yuan)

Yuexiu Group, Yuexiu Transportation, Yuedong New Energy Guangzhou Yuexiu New Energy Technology Co., Ltd.

Total 222,376

Note: (1) In July 2025, the 24th meeting of the company's 10th board of directors reviewed and approved the "Proposal on the Increase of Yuexiu Real Estate Shares and Related Transactions by the Controlled Subsidiary Guangzhou Assets", and agreed that the use of Guangzhou assets should not exceed 20,422 Ten thousand yuan of its own funds will be used to increase its holdings of Yuexiu Properties Hong Kong stocks (stock code: 00123.HK) in the secondary market through Southbound Trading. The authorization period is from the date of review and approval by the board of directors to May 30, 2026. Since the company's related parties Yuexiu Group, Guangzhou Metro, Lin Zhaoyuan, Li Feng, Liu Yan and others directly or indirectly hold shares of Yuexiu Real Estate, this transaction constitutes a related transaction involving joint investment with relevant related parties. During the reporting period, Guangzhou Asset invested a total of 112.9 million yuan and purchased 29.072 million shares of Yuexiu Real Estate Hong Kong shares.

(2) In January 2026, the 34th meeting of the company's 10th board of directors reviewed and approved the "Proposal on Capital Increase and Related Transactions in Guangzhou Assets of its Holding Subsidiary", agreeing that the company would unilaterally increase capital in Guangzhou Assets by 1,499,999,999,020 yuan in cash. Since the company's related party Guangzhou Hengyun directly holds shares of Guangzhou Assets, this transaction constitutes a related transaction of joint investment with related parties. During the reporting period, the company has completed a capital increase of RMB 1,499,999,999.02 million.

(3) In January 2026, the 34th meeting of the company's tenth board of directors reviewed and approved the "Announcement on Joint Investment and Related Transactions between Controlled Subsidiaries and Related Parties", agreeing that the company's controlled subsidiaries Yuexiu Industrial Investment, Yuexiu Industrial Fund and related party Guangzhou Paper Group Co., Ltd. will jointly invest in the establishment of a fund and sign a partnership agreement. The total subscribed capital of this fund is RMB 1,001 million, of which Yuexiu Industrial Investment and Yuexiu Industrial Fund have subscribed a total of RMB 201 million. This transaction constitutes a related transaction involving joint investment with related parties. During the reporting period, the company has completed a capital injection of RMB 10.86 million.

(4) In April 2026, the 39th meeting of the company's 10th board of directors reviewed and approved the "Announcement on the Capital Increase and Related Transactions of the Holding Subsidiary Yuexiu Industrial Investment", agreeing that the company will increase its capital to Yuexiu Industrial Investment by 600 million yuan in cash, and another shareholder of Yuexiu Industrial Investment and the company's related party Guangzhou Yuexiu Enterprise Group Co., Ltd. will increase its capital in equal proportions by 400 million yuan. This transaction constitutes a related transaction of joint investment with related parties. As of the end of the reporting period, the capital increase has been completed and the industrial and commercial change registration work is still in progress.

(5) In June 2026, the 41st meeting of the company's tenth board of directors reviewed and approved the "Announcement on Joint Investment and Related Transactions between the Wholly-Owned Subsidiary Guangzhou Yuexiu Capital and Related Parties", agreeing that the company's wholly-owned subsidiary Guangzhou Yuexiu Capital and related parties Yuexiu Group and Yuedong New Energy will jointly invest in the establishment of a new energy technology company. The company has a registered capital of 870.29 million yuan, of which Guangzhou Yuexiu Capital contributed 261.087 million yuan. This transaction constitutes a related transaction involving joint investment with related parties. The capital injection has not been completed during the reporting period. The relevant capital increase will be completed in July 2026.

Related accounts receivable and payable

(1) Monetary funds

Ending balance Beginning balance

Related party name

Currency Amount Amount equivalent to RMB Currency Amount Amount equivalent to RMB Chong Hing Bank Limited

RMB 2,870,560,964.72 2,870,560,964.72 RMB 1,142,635,329.43 1,142,635,329.43Company

Chong Hing Bank Limited

HKD 171,675,700.16 149,108,929.37 HKD 7,038.82 6,357.61Company

Total 3,019,669,894.09 1,142,641,687.04

(2) Amounts receivable from related parties

Project name Related party name Closing balance Opening balance Contract assets Chong Hing Bank Co., Ltd. 34.93 34.93 Contract assets Guangzhou Yuexiu Enterprise Group Co., Ltd. 223,050.00 Other receivables Guangzhou Jinyao Real Estate Co., Ltd. 6,565,589.10 6,356,933.10

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Project name Name of related party Closing balance Opening balance Other receivables Guangzhou Jingyao Real Estate Co., Ltd. 3,258,249.75 3,258,249.75 Other receivables Guangzhou Yuexiu Urban Construction International Financial Center Co., Ltd. 7,900,883.50 8,132,335.60 Other receivables Guangzhou Yuexiu Urban Construction Jones Lang LaSalle Property Services Co., Ltd. 3,342,989.20 3,338,254.63 Other receivables Guangzhou Yuexiu Emerging Industries Phase II Investment Fund Partnership (Limited Partnership) 1,079,893.47 1,079,893.47 Other receivables Shanghai Hongjia Real Estate Development Co., Ltd. 3,355,272.90 3,288,370.05 Non-receivables due within one year

Liaoning Yuexiu Huishan Holdings Co., Ltd. 1,625,699.41 90,787.75 Current assets

Factoring receivables Guangzhou Qingyue Real Estate Development Co., Ltd. 87,971,222.57 Factoring receivables Guangzhou Yueguan Real Estate Development Co., Ltd. 4,587,345.38 Factoring receivables Shenzhen Shengyue Real Estate Development Co., Ltd. 59,636,352.48 4,751,762.93 Dividends receivable CITIC Securities 148,543,040.98 366,981,141.05 Dividends receivable Xintian Green Energy Co., Ltd. 41,783,800.00

Dividends receivable Beijing Enterprises Holdings Co., Ltd. 43,469,255.55

Accounts receivable Chong Hing Bank Co., Ltd. 295,360.00 3,394,975.46 Accounts receivable Guangzhou Yuechuang Real Estate Development Co., Ltd. 27,410,032.78 Accounts receivable Guangzhou Yuexiu Guanghui Phase I Equity Investment Fund Partnership (Limited Partnership) 19,229,198.99 Accounts receivable Guangzhou Yuexiu Health Care Investment Partnership (Limited Partnership) 4,514,533.14 4,514,533.14 Accounts receivable Guangzhou Yuexiu Enterprise Group Co., Ltd. 162,400.00 Accounts receivable Guangzhou Housing Real Estate Financing Guarantee Co., Ltd. 1,518,745.34 Prepaid accounts Guangzhou Yuexiu Property Development Co., Ltd. 1,300,000.00

Debt investment Liaoning Yuexiu Huishan Holding Co., Ltd. 127,542,891.23 122,511,721.23 Long-term receivables Guangzhou Hengyun Holding Group Co., Ltd. 37,169,354.57 61,947,569.34 Other related accounts receivable

Others 1,881,854.14 3,954,618.08 items

Total 493,265,054.35 734,703,175.57

Note: The provision for bad debts for the above receivable items was RMB 5,370,859.28 at the end of the period and RMB 6,406,636.06 at the beginning of the period.

(3) Amounts payable to related parties

Project name Name of related party Closing balance Opening balance Short-term borrowings Chong Hing Bank Co., Ltd. 129,094,784.94 80,096,356.94 Long-term borrowings Chong Hing Bank Co., Ltd. 746,334,192.91 599,334,192.91 Non-current liabilities due within one year Chong Hing Bank Co., Ltd. 369,522,958.82 456,032,059.11 Other current liabilities Guangzhou Yuexiu Agriculture and Animal Husbandry Food Technology Co., Ltd. 7,390,354.89 1,841,201.22 Other payables Guangzhou Jingyi Investment Development Co., Ltd. 8,810,047.23 8,810,047.23 Other payables Guangzhou Yuexiu Group Co., Ltd. 3,890,809.45 7,350,903.41

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Project name Name of related party Closing balance Opening balance Other payables Guangzhou Yuexiu Digital Technology Co., Ltd. 4,161,026.59 Other payables Yuexiu Finance Co., Ltd. 2,420,147.98 2,420,147.98 Other payables Yuexiu Enterprise (Group) Co., Ltd. 1,520,212.36 2,738,603.87 Dividends payable Chengtuo Co., Ltd. 307,693,031.94 8,792,182.81 Dividends payable Guangzhou Industrial Investment Holding Group Co., Ltd. 62,631,096.84

Dividends payable Guangzhou Metro Group Co., Ltd. 37,335,302.29

Dividends payable Guangzhou Hengyun Enterprise Group Co., Ltd. 72,945,254.33

Dividends payable Guangzhou Yuexiu Group Co., Ltd. 285,818,134.68

Dividends payable Guangzhou Yuexiu Enterprise Group Co., Ltd. 20,700,665.31

Other related accounts payable Others 413,668.54 709,922.69

Total 2,056,520,662.51 1,172,286,644.76

12. Share-based payment

None.

13. Commitments and contingencies

Important commitments

None.

Contingencies

(1) Contingent liabilities arising from pending litigation and arbitration and their financial impact

None.

(2) Contingent liabilities arising from providing debt guarantees for other units and their financial impact

As of June 30, 2026, the company's subsidiary Yuexiu Guarantee has an insured amount of RMB 1,272,625,461.43.

(3) Other contingent liabilities

None.

14. Events after the balance sheet date

None.

15. Other important matters

Segment report

According to the Company's internal organizational structure, management requirements and internal reporting system, the Group's management has divided the Group's reporting segments into business units based on business types for management purposes: financial leasing business, non-performing asset management business, industrial fund management and investment business, futures business, new energy business and other businesses.

Guangzhou Yuexiu Capital Holding Group Co., Ltd. 2026 Semi-annual Report Full Text Inter-segment transfer prices are determined with reference to market prices, and common expenses are based on the proportion of revenue except for those parts that cannot be reasonably allocated.

Full text of Guangzhou Yuexiu Capital Holding Group Co., Ltd.'s 2026 semi-annual report (1) Segment profit or loss, assets and liabilities

Unit: 10,000 yuan

Items Financial leasing business Non-performing asset management business Investment management business Futures business New energy business Other businesses Offset total

Total operating income 118,148.52 6,827.68 7,152.73 8,594.95 224,309.28 1,402.08 -7,052.07 359,383.18
Total operating costs 67,686.84 49,432.28 20,721.49 16,402.76 184,277.46 48,871.58 -8,807.40 378,585.02
Operating profit 46,149.64 31,798.75 44,372.18 2,960.70 38,603.95 207,313.92 -32,886.40 338,312.75
Net profit 32,828.92 46,779.10 34,544.73 2,237.28 30,539.89 206,753.88 4,805.34 358,489.14
Total assets 6,346,967.31 4,947,853.09 1,994,623.29 1,040,255.81 4,847,018.04 5,547,987.43 -1,880,747.54 22,843,957.43 Segment assets 6,315,555.65 4,908,978.44 1,992,404.90 1,035,966.87 4,837,039.03 5,542,576.11 -1,879,654.30 22,752,866.70 Deferred income tax assets 31,411.66 38,874.65 2,218.39 4,288.94 9,979.01 5,411.32 -1,093.24 91,090.73
Total liabilities 5,688,777.86 3,495,639.11 1,118,679.51 843,020.28 3,597,167.47 3,893,754.30 -1,036,253.94 17,600,784.59 Segment liabilities 5,686,500.15 3,479,595.04 1,097,299.28 843,020.28 3,593,238.92 3,893,326.48 -1,035,519.19 17,557,460.96 Deferred income tax liabilities 2,277.71 16,044.07 21,380.23 3,9 2 8 . 5 5 4 2 7 .8 2 -734.75 43,323.63

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

16. Notes on main items of the parent company’s financial statements

Other receivables

Item Ending balance Beginning balance

Dividends receivable 1,506,075,563.71 1,580,261,824.48 Other receivables 6,998,208,836.27 9,855,528,030.73

Total 8,504,284,399.98 11,435,789,855.21

(1) Dividends receivable

Whether any impairment items occurred? Closing balance Opening balance Reason for non-recovery

The judgment is based on dividends receivable within one year 1,506,075,563.71 1,580,261,824.48

Among them: (1) Guangzhou Yuexiu Capital 1,500,000,000.00 1,500,000,000.00 Not yet issued No (2) CITIC Securities 80,261,824.48

(3) Beijing Enterprises 6,075,563.71 Not yet distributed No

Subtotal 1,506,075,563.71 1,580,261,824.48

Less: provision for bad debts

Total 1,506,075,563.71 1,580,261,824.48

(2) Other receivables

Nature of payment Ending balance Beginning balance

Current accounts 6,997,258,836.27 9,855,528,030.73 Guarantee and deposit 1,000,000.00

Total 6,998,258,836.27 9,855,528,030.73

Less: Bad debt provision 50,000.00

Book value 6,998,208,836.27 9,855,528,030.73

Classify and disclose other receivables according to the bad debt provision accrual method

Ending balance

Book balance Bad debt provision

Category

Provision ratio Book value amount Ratio (%) Amount

(%)

Provision for bad debts based on combination of credit risk characteristics

6,998,258,836.27 100.00 50,000.00 6,998,208,836.27 Other receivables prepared

Including: Related party portfolio within the group 6,997,258,836.27 99.99 6,997,258,836.27 Deposit portfolio 1,000,000.00 0.01 50,000.00 5.00 950,000.00

Total 6,998,258,836.27 100.00 50,000.00 0.00 6,998,208,836.27

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

(continued table)

Opening balance

Book balance Bad debt provision

Category

Provision ratio Book value amount Ratio (%) Amount

(%)

Provision for bad debts based on combination of credit risk characteristics

9,855,528,030.73 100.00 9,855,528,030.73 Other receivables prepared

Including: Related party combination within the group 9,855,528,030.73 100.00 9,855,528,030.73

Total 9,855,528,030.73 100.00 9,855,528,030.73

Other receivables with top five closing balances collected by debtors

Accounting for the closing balance of other receivables Name of the unit during the bad debt provision period Nature of the payment Closing balance Aging

Proportion of the total (%) Ending balance Current accounts of subsidiaries 6,997,208,836.27 Within 1 year 99.99

China Securities Depository and Clearing Co., Ltd.

Security deposit 1,000,000.00 Within 1 year 0.01 50,000.00 Ren Company Shenzhen Branch

Total 6,998,208,836.27 100.00 50,000.00

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Long-term equity investment

Ending balance Beginning balance

Project

Book balance Impairment provision Book value Book balance Impairment provision Book value Investment in subsidiaries 26,139,243,984.40 26,139,243,984.40 24,039,243,985.38 24,039,243,985.38 Investment in associates 7,989,740,265.40 7,989,740,265.40 7,705,492,830.93 7,705,492,830.93

Total 34,128,984,249.80 34,128,984,249.80 31,744,736,816.31 31,744,736,816.31

(1) Investment in subsidiaries

Impairment provision Invested unit at the end of the period Beginning balance (book value) Increase in the current period Decrease in the current period Ending balance (book value)

Balance Guangzhou Yuexiu Capital Holding Group Co., Ltd. 12,242,887,608.25 12,242,887,608.25

Guangzhou Asset Management Co., Ltd. 6,189,638,377.13 1,499,999,999.02 7,689,638,376.15

Guangzhou Yuexiu Industrial Investment Co., Ltd. 3,600,000,000.00 600,000,000.00 4,200,000,000.00

Guangzhou Futures Co., Ltd. 2,006,718,000.00 2,006,718,000.00

Total 24,039,243,985.38 2,099,999,999.02 26,139,243,984.40

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

(2) Investment in associates and joint ventures

Changes in increases and decreases in the current period Impairment quasi-beginning balance (book value at the end of the period (book value investment unit decrease Other comprehensive income recognized under the equity method Other changes in equity Announcement of issuance of cash shares Provision less its end-of-period value) additional investment value)

Investment Investment gains and losses Adjustments to profit or loss value reserves Other balances

1. Joint ventures

CITIC Securities Co., Ltd.

7,367,299,305.20 423,918,085.99 -52,322,989.66 -310,647.73 113,473,613.92 7,625,110,139.88 Co., Ltd.

Golden Eagle Fund Management

306,689,525.73 8,971,325.92 315,660,851.65 Co., Ltd.

Nanjing Yuexiu Dual Carbon

Equity investment funds

(Guangzhou) Partnership 31,504,000.00 17,510,000.00 -44,726.13 48,969,273.87 Enterprise (limited partnership

Guy)

Total 7,705,492,830.93 17,510,000.00 432,844,685.78 -52,322,989.66 -310,647.73 113,473,613.92 7,989,740,265.40

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd.

Investment income

Item Amount for the current period Amount for the previous period

Long-term equity investment income calculated by the cost method 96,138,501.17 26,839,959.54 Long-term equity investment income calculated by the equity method 432,844,685.78 249,767,939.26 Investment income obtained during the holding period of trading financial assets 484,846.16 Investment income obtained from the disposal of trading financial assets 745,289.77

Investment income obtained during the holding period of other equity instrument investments 6,098,157.77

Total 535,826,634.49 277,092,744.96

17. Supplementary information

Detailed statement of non-recurring profits and losses for the current period

Unit: Yuan

Item Amount for this reporting period Description

Gains and losses on disposal of non-current assets (including accrued

1,699,361.99 Mainly the offset portion of the income generated from the disposal of fixed assets and the asset impairment provision)

Government subsidies included in current profits and losses (related to the company’s regular

Closely related to daily business operations and in compliance with national policies. Mainly due to receipt of government subsidies related to daily activities.

9,025,613.85

stipulates, enjoys according to determined standards, and provides assistance to the company

Except for government subsidies that have a lasting impact on profits and losses)

Mainly because the parent company acquires associates and Beijing Enterprises acquires subsidiaries, associates and joint ventures.

The investment cost of the equity and Guangzhou asset-increasing joint venture Yuexiu Real Estate is less than what should be enjoyed when the investment is obtained.

671,684,411.44 If the investment cost of the property is less than the fair value of the identifiable net assets of the invested unit,

Income generated from the fair value of the identifiable net assets of the capital unit

income

Other non-operating income other than the above items and

602,239.63

expenditure

Less: Impact on income tax 77,304,855.01

Amount of impact on minority shareholders’ equity (after tax) 62,685,422.67

Total 543,021,349.23

Item Amount involved (yuan) Reason

Except for effective transactions related to the company’s normal business operations,

In addition to the period hedging business, the holding subsidiaries Guangzhou Assets, Yuexiu Industrial Assets, derivative financial assets, trading financial liabilities, Yuexiu Industrial Investment and Guangzhou Futures, etc. are financial bonds, derivative financial liabilities, etc. 1,584,656,297.86. The assets belong to the main business and do not belong to non-recurring losses, derivative financial assets, trading financial liabilities, and derivative items.

financial liabilities and other debt investments.

Full text of the 2026 semi-annual report of Guangzhou Yuexiu Capital Holding Group Co., Ltd. Amount involved (yuan) Reason

capital income

Return on net assets and earnings per share

Weighted average return on equity Earnings per share

Profit during the reporting period

(%) Basic earnings per share (yuan/share) Diluted earnings per share (yuan/share) Net income attributable to the company’s ordinary shareholders

8.43 0.5596 0.5596 Profit

After deducting non-recurring gains and losses, attributable to

6.80 0.4510 0.4510 Net profit of the company’s common shareholders

Differences in accounting data under domestic and foreign accounting standards

(1) Differences in net profit and net assets in financial reports disclosed in accordance with both international accounting standards and Chinese accounting standards

□Applicable Not applicable

(2) Differences in net profit and net assets in financial reports disclosed in accordance with both foreign accounting standards and Chinese accounting standards

□Applicable Not applicable

Guangzhou Yuexiu Capital Holding Group Co., Ltd.

August 28, 2026