Anxu Biological First Quarter Report of 2026
Hangzhou Anxu Biotechnology Co., Ltd. 2026 First Quarter Report
Securities code: 688075 Securities abbreviation: Anxu Biotechnology Hangzhou Anxu Biotechnology Co., Ltd.
2026 First Quarter Report
The company's board of directors and all directors guarantee that the contents of this announcement do not contain any false records, misleading statements or major omissions, and assume legal responsibility for the authenticity, accuracy and completeness of its contents in accordance with the law.
Important content reminder
The company's board of directors, directors and senior managers guarantee that the contents of the quarterly 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.
The person in charge of the company, the person in charge of accounting work and the person in charge of the accounting department (accounting supervisor) guarantee that the financial information in the quarterly report is true, accurate and complete.
Are the first quarter financial statements audited?
□Yes √No
1. Main financial data
(1) Main accounting data and financial indicators
Unit: Yuan Currency: RMB This reporting period Items increased or decreased in this reporting period compared to the same period last year The same period last year
Fluctuation (%) Operating income 71,198,925.07 115,296,526.87 -38.25Total profit -14,142,608.63 34,839,947.73 -140.59Net profit attributable to shareholders of listed companies -10,360,017.27 34,029,618.77 -130.44 Deductions attributable to shareholders of listed companies are not
-20,383,937.46 22,760,297.27 -189.56 Net profit from recurring gains and losses
Net cash flow from operating activities -3,074,675.72 -11,098,782.01 72.3 Basic earnings per share (yuan/share) -0.08 0.27 -129.63 Diluted earnings per share (yuan/share) -0.08 0.27 -129.63
Decrease 0.86% weighted average return on equity (%) -0.2 0.66
Total R&D investment by points 15,851,993.70 25,058,704.57 -36.74 The proportion of R&D investment in operating income increased by 0.53 percent
22.26 21.73
(%) points
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Hangzhou Anxu Biotechnology Co., Ltd. 2026 First Quarter Report
The end of the reporting period is more or less than the end of the reporting period compared with the end of the previous year.
Change (%) Total assets 5,758,076,974.51 5,676,567,635.66 1.44 Owners attributable to shareholders of listed companies
5,150,496,453.97 5,164,606,490.93 -0.27 equity
(2) Non-recurring profit and loss items and amounts
√Applicable □Not applicable
Unit: Yuan Currency: RMB
Non-recurring profit and loss items Amount for the current period Explain the profit and loss from the disposal of non-current assets, including the write-off part of the provision for asset impairment
Government subsidies included in the current profit and loss, but are closely related to the company's normal business operations, comply with national policies and regulations, and are determined in accordance with
4,278,874.09, except for government subsidies that have a lasting impact on the company’s profits and losses.
In addition to effective hedging business related to the company's normal business operations, non-financial enterprises hold financial assets and financial liabilities.
7,842,223.36 gains and losses from changes in fair value and gains and losses from the disposal of financial assets and financial liabilities
Fund occupation fees charged to non-financial enterprises included in current profits and losses
Gains and losses from entrusting others to invest or manage assets
Profit and loss from external entrusted loans
Loss of various assets due to force majeure factors, such as natural disasters
The impairment provision for receivables that is separately tested for impairment is reversed if the investment cost of the enterprise in acquiring subsidiaries, associates and joint ventures is less than the income generated from the fair value of the investee's identifiable net assets when the investment is obtained.
Net profit and loss for the current period from the beginning of the period to the date of merger of subsidiaries resulting from business mergers under common control
Gains and losses on non-monetary asset exchanges
Debt restructuring gains and losses
One-time expenses incurred by the enterprise due to the cessation of relevant business activities, such as expenses for relocating employees, etc.
One-time impact on current profits and losses due to adjustments to tax, accounting and other laws and regulations
One-time confirmation of share-based payment expenses due to cancellation or modification of equity incentive plan
For cash-settled share-based payments, after the vesting date,
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Gains and losses arising from changes in fair value of employee compensation payable
Investment real estate that adopts the fair value model for subsequent measurement
Gains and losses arising from changes in fair value of assets
Gains from transactions where the transaction price appears to be unfair
Losses arising from contingencies unrelated to the company's normal business operations
benefit
Custody fee income from entrusted operations
Other non-operating income and expenses other than the above items 24,167.82
Other profit and loss items that meet the definition of non-recurring profits and losses
Less: Impact on income tax 2,075,530.08
Amount of impact on minority shareholders’ equity (after tax) 45,815.00
Total 10,023,920.19
If a company determines items not listed in the "Explanatory Announcement No. 1 on Information Disclosure of Companies Publicly Offering Securities - Non-recurring Gains and Losses" as non-recurring gain and loss items and is significant in amount, and defines the non-recurring gain 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, it should explain the reasons. □Applicable √Not applicable
(3) Changes in main accounting data and financial indicators and reasons
√Applicable □Not applicable
Project name Change ratio (%) Main reasons
Mainly due to intensified market competition and reduced orders, operating income -38.25
and total profit due to decline in exchange rate -140.59 Mainly due to decline in revenue and exchange loss attributable to shareholders of listed companies
-130.44
net profit
Mainly represents the net amount attributable to shareholders of listed companies.
due to decline in profits
Net of non-recurring gains and losses -189.56
profit
cash flow from operating activities
72.30 Mainly due to the increase in accounts receivable turnover, net amount
Basic earnings per share (yuan/share) -129.63 Mainly due to the decrease in net diluted earnings per share (yuan/share) attributable to shareholders of listed companies (yuan/share) -129.63
Total R&D investment -36.74 Mainly due to decline in revenue
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Hangzhou Anxu Biotechnology Co., Ltd. 2026 First Quarter Report
2. Shareholder information
(1) The total number of common shareholders, the number of preferred shareholders whose voting rights have been restored, and the shareholding status of the top ten shareholders
Unit: Total common shareholders at the end of the reporting period Preferred shareholders with restored voting rights at the end of the reporting period
5,761 0 Number Total (if any)
Shareholding status of the top 10 shareholders (excluding shares lent through refinancing)
Pledged, marked or frozen holdings include transfers
Status of shareholders, shareholding ratio, sales restriction clause, lending of shares
Name of shareholder Number of shares held
Restrictions on the sale of pledged shares (%)
Number of share certificates Number of shares
state
Domestic non-
Hangzhou Aixu Holdings Co., Ltd.
State-owned law 34,150,290 26.87 0 0 None 0 Co., Ltd.
people
within the territory of
Ling Shisheng 31,929,520 25.12 0 0 None 0 Random person
within the territory of
Ma Huaxiang 13,573,360 10.68 0 0 None 0
Ranren
Lishui Chuangsheng Enterprise Management Domestic Non-profit
Management partnership (limited state-owned law 11,914,000 9.37 0 0 None 0 partnership) Person
China Merchants Bank Co., Ltd.
Co., Ltd. - Guangfa Price
Others 3,866,624 3.04 0 0 None 0 value core hybrid certificate
securities investment funds
within the territory of
Jiang Xueying 2,544,830 2.00 0 0 None 0 Random person
within the territory of
Shao Kui 909,973 0.72 0 0 None 0
Ranren
Industrial and Commercial Bank of China shares
Co., Ltd. - Recruitment
Others 600,004 0.47 0 0 None 0 Business boom preferred stocks
securities investment funds
within the territory of
Wang Yu 482,343 0.38 0 0 None 0
Ranren
Zheshang Bank Co., Ltd.
Co., Ltd. - Bo Shi Feng
Others 391,653 0.31 0 0 None 0Huang Linghang Hybrid Certificate
securities investment funds
Shareholding status of the top 10 shareholders without selling restrictions (excluding shares lent through refinancing)
Name of shareholder Number of shares held without selling restrictions Type and number of shares
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Hangzhou Anxu Biotechnology Co., Ltd. 2026 First Quarter Report
Type of shares Quantity Hangzhou Aixu Holdings Co., Ltd. 34,150,290 RMB ordinary shares 34,150,290 Ling Shisheng 31,929,520 RMB ordinary shares 31,929,520 Ma Huaxiang 13,573,360 RMB ordinary shares 13,573,360 Lishui Chuangsheng Enterprise Management Partnership
11,914,000 RMB ordinary shares 11,914,000 Enterprise (limited partnership)
China Merchants Bank Co., Ltd.
- GF Value Core Hybrid 3,866,624 RMB ordinary shares 3,866,624 Securities Investment Fund
Jiang Xueying 2,544,830 RMB ordinary shares 2,544,830 Shao Kui 909,973 RMB ordinary shares 909,973 Industrial and Commercial Bank of China Co., Ltd.
Company - China Merchants Prosperity Preferred Stocks 600,004 RMB ordinary shares 600,004 Ticket-type securities investment funds
Wang Yu 482,343 RMB ordinary shares 482,343 Zheshang Bank Co., Ltd.
- Boshi Phoenix Pilot Hybrid 391,653 RMB ordinary shares 391,653 Securities Investment Fund
- Ling Shisheng and Jiang Xueying are husband and wife. Ling Shisheng directly holds 25.12% of the company's shares.
Jiang Xueying directly holds 2.00% of the company's shares; the two hold 26.87% of the company through Aixu Holdings. The above-mentioned shareholders are related or have a
Shares, Lishui Chuangsheng holds 5.82% of the company's shares, holding a total of 59.81% of the company's shares. Explanation of the stock action
portion. 2. Apart from this, the company is not aware of the related relationships among other shareholders and whether they are consistent.
Action man.
Among the top 10 shareholders and the top 10 none, Shao Kui holds 0 shares of the company's stock through ordinary securities accounts, and holds 909,973 shares of the company's stocks through investor restricted shareholders' credit securities accounts to participate in margin financing and securities lending, totaling 909,973 shares of the company's stocks and refinancing business. Wang Yu holds 12,343 shares of the company's stocks through ordinary securities accounts and 470,000 shares of the company's stocks through investor credit (if any) securities accounts, for a total of 482,343 shares of the company's stocks. 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.
□Applicable √Not applicable
3. Other reminders
Investors need to be reminded of other important information regarding the company’s operations during the reporting period.
□Applicable √Not applicable
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Hangzhou Anxu Biotechnology Co., Ltd. 2026 First Quarter Report
4. Quarterly Financial Statements
(1) Types of audit opinions
□Applicable √Not applicable
(2) Financial statements
Consolidated Balance Sheet
March 31, 2026
Prepared by: Hangzhou Anxu Biotechnology Co., Ltd.
Unit: Yuan Currency: RMB Audit type: Unaudited
Item March 31, 2026 Current assets on December 31, 2025:
Monetary funds 629,510,288.02 568,267,637.70 Settlement reserves - - Placement funds - - Trading financial assets 1,270,796,849.31 1,311,207,273.97 Derivative financial assets - - Notes receivable - - Accounts receivable 187,577,599.90 187,063,187.31 Accounts receivable financing - - Prepayments 15,168,226.80 13,351,215.30 Premiums receivable - - Reinsurance accounts receivable - - Reinsurance contract reserves receivable - - Other receivables 4,262,336.52 10,389,289.39 Among them: interest receivable - -
Dividends receivable - - Financial assets purchased under resale agreements - - Inventories 138,348,997.67 133,342,048.57 Including: data resources
Contract assets - -Assets held for sale - -Non-current assets due within one year - -Other current assets 2,455,254,771.08 2,368,253,673.18
Total current assets 4,700,919,069.30 4,591,874,325.42 Non-current assets:
Loans and advances - Debt investments - Other debt investments - Long-term receivables - Long-term equity investments - -
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Hangzhou Anxu Biotechnology Co., Ltd. 2026 First Quarter Report
Investment in other equity instruments - - Other non-current financial assets 16,000,000.00 6,000,000.00 Investment real estate - - Fixed assets 589,546,560.74 597,035,382.91 Construction in progress 197,253,504.95 221,852,199.62 Productive biological assets - - Oil and gas assets - - Right-of-use assets 4,793,197.86 5,400,881.32 Intangible assets 40,553,579.50 43,103,285.46 Including: data resources
development expenditure
Among them: data resources
Goodwill 13,970,552.64
Long-term deferred expenses 26,595,362.48 28,957,299.98 Deferred income tax assets 159,250,942.11 156,402,414.99 Other non-current assets 9,194,204.93 25,941,845.96 Total non-current assets 1,057,157,905.21 1,084,693,310.24
Total assets 5,758,076,974.51 5,676,567,635.66 Current liabilities:
Short-term borrowings 140,000,000.00 - Borrowings from the central bank - - Placement funds - - Trading financial liabilities - - Derivative financial liabilities - 394,155.37 Notes payable 106,489,121.72 88,929,983.50 Accounts payable 235,433,128.58 293,981,331.87 Advance receipts - -Contract liabilities 16,043,427.16 10,384,896.51 Financial assets sold under repurchase - -Deposits from customers and deposits from other banks - -Amounts from securities trading as an agent - -Amounts from underwriting securities as an agent - -Employee compensation payable 13,666,131.73 18,905,602.73 Taxes payable 10,392,206.76 6,202,149.84 Other payables 5,714,952.41 14,364,360.84 Including: interest payable - -
Dividends payable - - Fees and commissions payable - - Reinsurance accounts payable - - Liabilities held for sale - - Non-current liabilities due within one year 509,374.35 3,439,228.17 Other current liabilities 1,528,990.14 539,028.49
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Hangzhou Anxu Biotechnology Co., Ltd. 2026 First Quarter Report
Total current liabilities 529,777,332.85 437,140,737.32 Non-current liabilities:
Insurance contract reserves - -Long-term borrowings - -Bonds payable - -Including: Preferred shares - -
Perpetual bonds - - Lease liabilities 5,023,786.58 2,105,441.07 Long-term payables - - Long-term employee benefits payable - - Estimated liabilities - - Deferred income 7,172,589.71 7,164,431.36 Deferred income tax liabilities 69,617,290.30 69,573,957.22 Other non-current liabilities 7,137.18 - Total non-current liabilities 81,820,803.77 78,843,829.65
Total liabilities 611,598,136.63 515,984,566.97 Owners’ equity (or shareholders’ equity):
Paid-in capital (or equity) 127,082,805.00 127,082,805.00 Other equity instruments - - Including: preference shares - -
Perpetual bonds - - Capital reserve 1,050,333,724.27 1,050,333,724.27 Less: treasury shares - - Other comprehensive income 874,014.22 4,624,033.91 Special reserves - - Surplus reserve 64,291,183.82 64,291,183.82 General risk reserves - -Undistributed profits 3,907,914,726.66 3,918,274,743.93 Attributable to the parent company’s owner’s equity (or shares
5,150,496,453.97 5,164,606,490.93 East equity) total
Minority shareholders' equity -4,017,616.08 -4,023,422.24 Total owners' equity (or shareholders' equity)
5,146,478,837.89 5,160,583,068.69 total
Liabilities and Owners' Equity (or Shareholders
5,758,076,974.51 5,676,567,635.66 equity) total
Person in charge of the company: Ling Shisheng Person in charge of accounting work: Lin Xiao Person in charge of the accounting department: Lin Xiao
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Hangzhou Anxu Biotechnology Co., Ltd. 2026 First Quarter Report
consolidated income statement
January-March 2026
Prepared by: Hangzhou Anxu Biotechnology Co., Ltd.
Unit: Yuan Currency: RMB Audit type: Unaudited
Project First Quarter of 2026 First Quarter of 2025
Total operating income 71,198,925.07 115,296,526.87 Including: operating income 71,198,925.07 115,296,526.87 Interest income - - Premiums earned - - Fee and commission income - -
Total operating costs 120,853,303.06 121,733,021.18 Including: operating costs 42,150,052.81 66,503,782.60 Interest expenses - - Handling fees and commission expenses - - Surrender funds - - Net compensation expenses - - Net withdrawal of insurance liability reserves - - Policy dividend expenses - - Reinsurance expenses - - Taxes and surcharges 2,000,985.64 2,017,173.67Sales expenses 9,238,485.19 15,621,441.77Administrative expenses 13,097,238.57 10,391,007.73R&D expenses 15,851,993.70 25,058,704.57Financial expenses 38,514,547.15 2,140,910.84 Including: interest expense - -
Interest income -905,770.88 -392,745.68 plus: other income 4,278,874.09 1,725,120.33 Investment income (losses are listed with "-") 23,299,039.11 28,056,552.80 Including: investment in associates and joint ventures
- Capital income
Financial assets measured at amortized cost
- -Derecognition of income
Exchange gains (losses are listed with a "-") - - Net exposure hedging income (losses are listed with a "-"
- -column)
Gains from changes in fair value (losses are filled in with a “-” sign
7,842,223.36 11,317,050.23 columns)
Credit impairment losses (losses are listed with a "-" sign) 67,464.98 - Asset impairment losses (losses are listed with a "-" sign) - - Asset disposal income (losses are listed with a "-" sign) - 159,342.19
- Operating profit (losses are listed with "-") -14,166,776.45 34,821,571.25 Plus: Non-operating income 28,496.99 54,346.40 Less: Non-operating expenses 4,329.17 35,969.92
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Hangzhou Anxu Biotechnology Co., Ltd. 2026 First Quarter Report
Total profits (total losses are listed with "-") -14,142,608.63 34,839,947.73 Less: income tax expenses -3,788,397.52 612,529.30
Net profit (net loss is listed with "-") -10,354,211.11 34,227,418.43
(1) Classification by business continuity
- Net profit from continuing operations (net loss is filled in with "-"
-10,354,211.11 34,227,418.43 columns)
- Net profit from discontinued operations (net loss is filled in with "-"
- -column)
(2) Classification according to ownership ownership
- Net profit (net loss) attributable to shareholders of the parent company
-10,360,017.27 34,029,618.77 loss shall be filled in with "-")
Profit and loss of minority shareholders (net loss is listed with "-") 5,806.16 197,799.66
Net after-tax amount of other comprehensive income -3,750,019.69 -1,895,802.41
(1) Other comprehensive income attributable to owners of the parent company
-3,750,019.69 -1,895,802.41 net profit after tax
- Other comprehensive income that cannot be reclassified to profit or loss - - (1) Changes in remeasurement of defined benefit plans - - (2) Other comprehensive income that cannot be reclassified to profit or loss under the equity method
- -Benefit
(3) Changes in the fair value of other equity instrument investments - - (4) Changes in the fair value of the enterprise's own credit risk - -
- Other comprehensive income that will be reclassified into profit and loss -3,750,019.69 -1,895,802.41 (1) Other comprehensive income that can be converted into profit and loss under the equity method - - (2) Changes in the fair value of other debt investments - - (3) Financial assets are reclassified into other comprehensive income
-Amount of -
(4) Credit impairment provisions for other debt investments - - (5) Cash flow hedging reserves - - (6) Foreign currency financial statement translation differences -3,750,019.69 -1,895,802.41 (7) Others - -
(2) Other comprehensive income attributable to minority shareholders
- net of tax
- Total comprehensive income -14,104,230.80 32,331,616.02
(1) Comprehensive income attributable to owners of the parent company
-14,110,036.96 32,133,816.36 total
(2) Total comprehensive income attributable to minority shareholders 5,806.16 197,799.66
8. Earnings per share:
(1) Basic earnings per share (yuan/share) -0.08 0.27
(2) Diluted earnings per share (yuan/share) -0.08 0.27 If a business merger under common control occurs in this period, the net profit realized by the merged party before the merger is: 0 yuan, and the net profit realized by the merged party in the previous period is: 0 yuan.
Person in charge of the company: Ling Shisheng Person in charge of accounting work: Lin Xiao Person in charge of the accounting department: Lin Xiao
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Hangzhou Anxu Biotechnology Co., Ltd. 2026 First Quarter Report
Consolidated Cash Flow Statement
January-March 2026
Prepared by: Hangzhou Anxu Biotechnology Co., Ltd.
Unit: Yuan Currency: RMB Audit type: Unaudited
Project First Quarter of 2026 First Quarter of 2025
1. Cash flow generated from operating activities:
Cash received from selling goods and rendering services 87,427,387.52 103,961,347.43 Net increase in customer deposits and interbank deposits - - Net increase in borrowings from the central bank - - Net increase in borrowing funds from other financial institutions - - Cash received from premiums from original insurance contracts - - Net cash received from reinsurance business - - Net increase in policyholder savings and investment funds - - Cash collected from interest, fees and commissions - - Net increase in borrowing funds - - Net increase in repurchase business funds - - Net cash received from agency securities trading - - Tax refunds received 6,840,874.80 8,704,418.87 Other cash received related to operating activities 12,830,319.92 14,855,431.91
Subtotal of cash inflows from operating activities 107,098,582.24 127,521,198.21 Cash paid for purchasing goods and receiving services 61,366,917.02 66,941,915.16 Net increase in customer loans and advances - - Net increase in deposits with the central bank and interbank funds - - Cash used to pay compensation for original insurance contracts - - Net increase in placement funds - - Cash paid for interest, fees and commissions - - Cash paid for policy dividends - - Cash paid to and for employees 40,178,299.90 42,298,975.77 Various taxes paid 6,901,370.95 17,711,780.21 Cash paid for other operating activities 1,726,670.08 11,667,309.08 Subtotal of cash outflows from operating activities 110,173,257.96 138,619,980.22
Net cash flow from operating activities -3,074,675.72 -11,098,782.01
2. Cash flow generated from investing activities:
Cash received from recovery of investment 2,935,441,427.89 2,957,353,620.09 Cash received from investment income 109,593,880.14 16,492,703.74 Disposal of fixed assets, intangible assets and other long-term assets
- Net cash amount recovered from period assets
Received from disposal of subsidiaries and other business units
- -Net cash
Other cash received related to investing activities - -
Subtotal of cash inflows from investing activities 3,045,035,308.03 2,973,846,323.83 Purchase and construction of fixed assets, intangible assets and other long-term assets
10,784,749.00 16,950,520.00 Cash paid for assets in the period
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Hangzhou Anxu Biotechnology Co., Ltd. 2026 First Quarter Report
Cash paid for investment 2,968,150,279.45 2,977,598,786.04 Net increase in pledged loans - - paid by subsidiaries and other business units
- -Net cash
Other cash payments related to investing activities - 358,910.00 Subtotal of cash outflows from investing activities 2,978,935,028.45 2,994,908,216.04
Net cash flow generated from investing activities 66,100,279.58 -21,061,892.21
3. Cash flow generated from financing activities:
Cash received from investment - - Of which: subsidiaries receive investment from minority shareholders
- -Cash arrived
Cash received from borrowings - - Cash received from other financing activities - -
Subtotal of cash inflows from financing activities - Cash paid to repay debt - Cash paid to distribute dividends, profits or repay interest
- -Cash
Including: shares paid by subsidiaries to minority shareholders
- -Profit, profit
Other cash payments related to financing activities - - Subtotal of cash outflows from financing activities - -
Net cash flows from financing activities - -
4. The impact of exchange rate changes on cash and cash equivalents
-1,729,883.08 328,899.87 impact
Net increase in cash and cash equivalents 61,295,720.78 -31,831,774.35 plus: opening balance of cash and cash equivalents 420,101,954.19 458,283,678.15
Balance of cash and cash equivalents at the end of the period 481,397,674.97 426,451,903.80
Person in charge of the department: Ling Shisheng Person in charge of accounting work: Lin Xiao Person in charge of the accounting department: Lin Xiao
The first implementation of new accounting standards or standard interpretations starting in 2026 will involve adjustments to the financial statements at the beginning of the year of first implementation.
□Applicable √Not applicable
Announcement hereby
Board of Directors of Hangzhou Anxu Biotechnology Co., Ltd. April 28, 2026
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