/Yaoshi Technology: First Quarter Report of 2026

NEWS

Yaoshi Technology: First Quarter Report of 2026

Shenzhen Stock Exchange

2026/04/22

Nanjing Yaoshi Technology Co., Ltd. 2026 First Quarter Report Securities Code: 300725 Securities Abbreviation: Yaoshi Technology Announcement Number: 2026-016

Nanjing Yaoshi Technology Co., Ltd.

2026 First Quarter Report

The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and contains no false records, misleading statements or major omissions. Important content reminder:

The board of directors, directors and senior managers guarantee that the quarterly report is 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) declare that they guarantee the authenticity, accuracy and completeness of the financial information in the quarterly report.
Whether the first quarter financial accounting report has been audited

□Yes No

Nanjing Yaoshi Technology Co., Ltd. 2026 First Quarter Report

1. Main financial data

(1) Main accounting data and financial indicators

Whether the company needs to retroactively adjust or restate previous years’ accounting data

□Yes No

This reporting period is better than the same period last year. This reporting period is better than the same period last year.

Increase or decrease (%) operating income (yuan) 508,031,084.22 455,018,107.75 11.65% Net profit attributable to shareholders of listed companies

48,886,603.99 35,790,750.96 36.59% (yuan)

Extraordinary deductions attributable to shareholders of listed companies

38,753,660.47 30,537,131.92 26.91% Net profit from sexual gains and losses (yuan)

Net cash flow from operating activities

56,182,542.79 252,341,548.08 -77.74% (yuan)

Basic earnings per share (yuan/share) 0.21 0.18 16.67% Diluted earnings per share (yuan/share) 0.21 0.18 16.67% Weighted average return on equity 0.83% 1.19% -0.36% The end of this reporting period compared to the end of the previous year The end of this reporting period The end of the previous year

Final increase/decrease (%) Total assets (yuan) 6,389,801,911.25 7,339,874,733.36 -12.94% Owner’s equity attributable to shareholders of listed companies

5,498,725,586.74 6,300,140,082.11 -12.72% (yuan)

(2) Non-recurring profit and loss items and amounts

Applicable □Not applicable

Unit: Yuan

Item Amount for this reporting period Description

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

-260,578.04

offset portion of value provision)

Government subsidies included in current profits and losses (related to the company’s normal operations)

Closely related to the business, in compliance with national policies and regulations, and in accordance with the correct

3,612,037.79

enjoy certain standards and have a lasting impact on the company’s profits and losses

(Except government subsidies)

Gains and losses from entrusting others to invest or manage assets 8,300,510.77

Other non-operating income and expenses other than the above items 269,139.51

Less: Income tax impact 1,788,166.51

Total 10,132,943.52 --

Details of other profit and loss items that meet the definition of non-recurring profits and losses

□Applicable Not applicable

The company has no other specific circumstances of profit and loss items that meet the definition of non-recurring profits and losses.

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

□Applicable Not applicable

The company does not define the non-recurring profit and loss items listed in the "Explanatory Announcement No. 1 on Information Disclosure of Companies that Offer Securities to the Public - Non-recurring Profit and Loss" as recurring profit and loss items.

Nanjing Yaoshi Technology Co., Ltd. 2026 First Quarter Report

(3) Changes in major accounting data and financial indicators and their reasons

Applicable □Not applicable

Unit: Yuan Balance sheet item Ending balance Beginning balance Increase or decrease rate of change Reason for change

Mainly due to other current assets of the company’s investment bank wealth management products at the end of the reporting period 400,342,100.92 238,377,689.70 67.94%

impact of changes;

Mainly due to other equity instrument investments at the end of the period related to Yaojie Ankang held by the company 1,304,353,855.67 2,300,584,538.49 -43.30%

Due to changes in fair value;

Construction in progress 105,367,199.81 61,682,394.08 70.82% Mainly due to the company’s investment in engineering construction during the reporting period;

Long-term deferred expenses 14,808,275.28 10,132,370.34 46.15% Mainly due to the continued progress of the decoration and renovation project during the reporting period;

Employee benefits payable 55,052,174.54 95,540,272.38 -42.38% Mainly due to the company completing the year-end bonus payment during the reporting period;

Mainly due to the decrease in taxable temporary differences caused by the fair value measurement of Yaojie Ankang Xiang's deferred income tax liabilities held by the company at the end of the reporting period 215,191,296.53 365,246,158.03 -41.08%;

Mainly due to other comprehensive income at the end of the period from investments related to Yaojie Ankang held by the company 1,083,153,210.33 1,933,801,650.66 -43.99%

Due to changes in fair value;

Income statement items Number for the current period Number for the same period last year Change rate of increase or decrease Reason for change

Mainly due to the company’s continued promotion of market expansion during the reporting period. Sales expenses 19,957,254.62 15,143,093.02 31.79%

Due to business development and corresponding increase in expenses;

Mainly due to the company’s continued promotion of research and development expenses during the reporting period 29,809,579.94 21,559,149.46 38.27%

work;

Credit impairment loss (loss) is mainly due to the collection of accounts receivable and changes in the scale at the end of the period, resulting in -2,479,310.56 6,243,874.59 -139.71%

(if not filled in with a "-" sign) resulting in differences in credit impairment losses;

Asset impairment losses (losses mainly due to the company's strengthening of inventory management and optimization during the reporting period -10,765,562.44 -18,498,451.08 -41.80%

Please fill in the column with "-") Impact of inventory structure;

Cash flow statement items Amount for the current period Amount for the same period last year Increase or decrease rate of change Reason for change

Mainly due to the large amount of order repayments in the same period last year, which resulted in cash generated from operating activities.

56,182,542.79 252,341,548.08 -77.74% High base impact, no net cash flow of the same scale occurred during this reporting period

The repayment is due to the difference in the pace of repayment.

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: Share Total number of common shareholders at the end of the reporting period 43,282 Total number of preference shareholders with restored voting rights at the end of the reporting period (if any) 0 Shareholding status of the top 10 shareholders (excluding shares lent through refinancing)

Shareholding ratio, holding of sales restrictions, pledge, marking or freezing status

Name of shareholder Nature of shareholder Number of shares held

(%) Number of shares of piece Share status Quantity

Yang Minmin Domestic natural person 17.71% 41,403,319 31,052,489 Pledge 12,000,000 Zhouquan Domestic natural person 2.33% 5,449,090 0 Not applicable 0 Cathay Haitong Securities

Joint stock limited company Domestic non-state-owned law

1.31% 3,060,000 0 Not applicable 0 Agreed repurchase witness

Securities trading special certificate

Nanjing Yaoshi Technology Co., Ltd. 2026 First Quarter Report

Securities account

Tong Dewang Domestic natural person 0.94% 2,189,300 0 Not applicable 0 Hong Kong Securities Clearing Company

Overseas legal person 0.72% 1,676,640 0 Not applicable 0 Limited company

Cheng Naibin Domestic natural person 0.51% 1,199,000 0 Not applicable 0 Shen Jianxin Domestic natural person 0.51% 1,191,384 0 Not applicable 0 Wu Wanliang Domestic natural person 0.50% 1,172,528 0 Not applicable 0 Zhang Yong Domestic natural person 0.50% 1,162,316 0 Not applicable 0China Everbright Bank

Co., Ltd.

China Merchants Anbenzeng Others 0.39% 908,598 0 Not applicable 0-interest bond securities

investment fund

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

Type of shares Quantity Yang Minmin 10,350,830 RMB ordinary shares 10,350,830 Zhou Quan 5,449,090 RMB ordinary shares 5,449,090 Cathay Haitong Securities Co., Ltd. Agreement

3,060,000 RMB ordinary shares 3,060,000 Special securities account for repurchase securities trading

Tong Dewang 2,189,300 RMB ordinary shares 2,189,300 Hong Kong Securities Clearing Company Limited 1,676,640 RMB ordinary shares 1,676,640 Cheng Naibin 1,199,000 RMB ordinary shares 1,199,000 Shen Jianxin 1,191,384 RMB ordinary shares 1,191,384 Wu Wanliang 1,172,528 RMB ordinary shares 1,172,528 Zhang Yong 1,162,316 RMB ordinary shares 1,162,316 China Everbright Bank Co., Ltd.-Recruitment

908,598 RMB ordinary shares 908,598 Shangan Capital-increased Bond Securities Investment Fund

The company does not know whether there is any related relationship between the above-mentioned shareholders, nor does it know whether there is any explanation of the related relationship or concerted action between the above-mentioned shareholders.

Moving.

The company's shareholder Tong Dewang holds 0 shares of the company's stock through an ordinary securities account.

Description of the top 10 shareholders who hold company stocks in the customer credit transaction guaranteed securities account of Tong Securities Co., Ltd. and participate in the margin trading business (for example, 2,189,300 shares, the actual total holdings are 2,189,300 shares.

Yes) The company's shareholder Cheng Naibin holds 0 shares of the company's stock through an ordinary securities account, and holds the company's stocks through the customer credit transaction guaranteed securities account of SDIC Securities Co., Ltd.

1,199,000 shares, actual total holdings are 1,199,000 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.

□Applicable Not applicable

(2) Total number of preferred shareholders of the company and shareholding status of the top 10 preferred shareholders

□Applicable Not applicable

(3) Changes in restricted shares

Applicable □Not applicable

Unit: Share

Lift the limit in this period and increase the limit in this period

Name of shareholder Number of shares subject to selling restrictions at the beginning of the period Number of shares subject to selling restrictions at the end of the period Reasons for selling restrictions Number of shares sold on the date to be lifted from selling restrictions Number of shares sold

Retiring directors, supervisors and senior executives Zhang Shuqiang resigned before the expiration of his term 500 125 0 375

Those who are locked in a shareholding position shall Nanjing Yaoshi Technology Co., Ltd. 2026 First Quarter Report when they take office.

The shares transferred each year during the determined term of office and within six months after the expiration of the term shall not exceed 25% of the total number of shares of the company held by him/her, and the shares of the company held by him/her shall not be transferred within six months after resignation.

The shares transferred every year during the term of office Yang Minmin 31,052,489 0 0 31,052,489 Executive locked shares shall not exceed 25% of the total number of shares of the company held by them.

The shares transferred every year during the term Chen Chen 34,125 0 0 34,125 Executive locked shares shall not exceed 25% of the total number of shares of the company held by them.

Total 31,087,114.00 125 0 31,086,989.00 -- --

3. Other important matters

Applicable □Not applicable

In the first quarter of 2026, the company will focus on annual operating goals, deepen cooperation with core customers, actively expand key businesses, and promote steady revenue growth. During this reporting period,

The company achieved operating income of 508 million yuan, a year-on-year increase of 11.65%. Among them, the drug research stage business continues to be in the focus stage of business model adjustment and strategic optimization.

Revenue achieved was 77 million yuan, a year-on-year decrease of 4.16%; products and services in the drug development and commercialization stages achieved revenue of 427 million yuan, a year-on-year increase of 14.40%. Public

The company continues to promote business structure optimization, production efficiency improvement, cost and expense control and other measures. During the reporting period, the gross profit margin was 32.14%, and profitability improved year-on-year. cut

As of the end of this reporting period, the company's order amount on hand has increased by more than 20%, and the company will continue to strengthen order delivery and improve operating quality.

4. Quarterly Financial Statements

(1) Financial statements

Consolidated balance sheet

Prepared by: Nanjing Yaoshi Technology Co., Ltd.

March 31, 2026

Unit: Yuan Item Ending balance Beginning balance

Current assets:

Monetary funds 375,611,333.34 532,739,255.18 Settlement reserves

Loan funds

Trading financial assets 687,583,815.73 735,566,893.26 Derivative financial assets

Notes receivable

Accounts receivable 430,538,115.85 381,412,571.59 Accounts receivable financing 1,046,514.30 4,617,047.19 Prepayments 10,076,838.46 7,974,025.56 Premiums receivable

Reinsurance accounts receivable

Receivable reinsurance contract reserves

Other receivables 3,273,919.21 2,992,146.89 Including: interest receivable

Nanjing Yaoshi Technology Co., Ltd. 2026 First Quarter Report

Dividends receivable

Buy financial assets under resale agreements

Inventory 655,416,773.82 655,244,367.80

Among them: data resources

contract assets

Assets held for sale

Non-current assets due within one year 81,847,156.09 116,839,091.01 Other current assets 400,342,100.92 238,377,689.70 Total current assets 2,645,736,567.72 2,675,763,088.18 Non-current assets:

Grant loans and advances

debt investment

Other debt investments

long-term receivables

Long-term equity investment 2,519,263.24 2,807,617.56 Other equity instrument investment 1,304,353,855.67 2,300,584,538.49 Other non-current financial assets

investment real estate

Fixed assets 1,561,333,108.14 1,579,784,734.72 Construction in progress 105,367,199.81 61,682,394.08 Productive biological assets

oil and gas assets

Right-of-use assets 10,387,974.26 11,660,658.76 Intangible assets 102,088,217.62 103,591,141.56

Among them: data resources

development expenditure

Among them: data resources

Goodwill 355,741,611.44 355,741,611.44 Long-term deferred expenses 14,808,275.28 10,132,370.34 Deferred income tax assets 39,122,056.47 39,824,746.20 Other non-current assets 248,343,781.60 198,301,832.03 Total non-current assets 3,744,065,343.53 4,664,111,645.18 Total assets 6,389,801,911.25 7,339,874,733.36 Current liabilities:

Short-term borrowings 100,058,611.11 100,058,611.11 Borrowings from the central bank

borrowing funds

Trading financial liabilities

Derivative financial liabilities

Notes payable 64,180,438.07 68,868,562.08 Accounts payable 289,907,236.00 243,886,114.01 Advance receipts 224,000.05 194,038.10 Contract liabilities 77,907,186.36 70,086,376.48 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 55,052,174.54 95,540,272.38 Taxes payable 25,019,208.03 32,450,960.21 Other payables 3,926,889.43 4,383,743.09 Including: interest payable

Dividends payable

Handling fees and commissions payable

Reinsurance accounts payable

Liabilities held for sale

Nanjing Yaoshi Technology Co., Ltd. 2026 First Quarter Report

Non-current liabilities due within one year 4,728,491.28 4,748,614.17 Other current liabilities 4,127,673.25 1,602,936.65 Total current liabilities 625,131,908.12 621,820,228.28 Non-current liabilities:

insurance contract reserves

long term borrowing

bonds payable

Among them: preferred shares

perpetual bond

Lease liabilities 7,636,742.85 7,867,591.02 Long-term payables

Long-term employee benefits payable

Estimated liabilities

Deferred income 43,116,377.01 44,800,673.92 Deferred income tax liabilities 215,191,296.53 365,246,158.03 Other non-current liabilities

Total non-current liabilities 265,944,416.39 417,914,422.97 Total liabilities 891,076,324.51 1,039,734,651.25 Owners’ equity:

Share capital 233,807,341.00 233,807,341.00 Other equity instruments

Among them: preferred shares

perpetual bond

Capital reserve 2,337,533,687.68 2,337,533,687.68 Less: treasury shares 30,041,755.01 30,041,755.01 Other comprehensive income 1,083,153,210.33 1,933,801,650.66 Special reserves 1,682,468.51 1,335,127.54 Surplus reserve 110,371,679.04 110,371,679.04 General risk reserve

Undistributed profits 1,762,218,955.19 1,713,332,351.20 Total owners’ equity attributable to the parent company 5,498,725,586.74 6,300,140,082.11 Minority shareholders’ equity

Total owners’ equity 5,498,725,586.74 6,300,140,082.11 Total liabilities and owners’ equity 6,389,801,911.25 7,339,874,733.36 Legal representative: Yang Minmin Person in charge of accounting work: Wu Juanjuan Person in charge of the accounting department: Wang Dongyue

Consolidated income statement

Unit: Yuan

Item Amount for the current period Amount for the previous period

Total operating income 508,031,084.22 455,018,107.75 Including: operating income 508,031,084.22 455,018,107.75 Interest income

Premiums earned

Fee and commission income

Total operating costs 456,125,396.67 412,531,258.48

Including: operating costs 344,742,095.37 316,982,758.01

interest expense

Handling fees and commission expenses

surrender deposit

Net compensation expenses

Net withdrawal of insurance liability reserves

policy dividend payout

Nanjing Yaoshi Technology Co., Ltd. 2026 First Quarter Report

Reinsurance cost

Taxes and surcharges 5,110,158.66 5,719,304.58 Sales expenses 19,957,254.62 15,143,093.02

Management expenses 45,873,521.50 42,402,305.63

Research and development expenses 29,809,579.94 21,559,149.46

Financial expenses 10,632,786.58 10,724,647.78

Including: interest expense 618,477.49 13,692,073.93

Interest income 2,029,939.51 3,527,610.58

Add: other income 6,516,289.86 4,709,741.81

Investment income (losses are filled in with "-"

6,282,135.75 4,356,576.46 columns)

Of which: for associates and joint ventures

-288,354.32 -305,095.69 Enterprise investment income

Measured at amortized cost

Income from derecognition of financial assets

Exchange gains (losses are filled in with "-"

column)

Net exposure hedging gain (loss calculated as

Fill in the column with "-" sign)

Gains from changes in fair value (losses calculated as

1,730,020.70 -1,137,994.59 (Fill in “-”)

Credit impairment losses (losses are marked with "-"

-2,479,310.56 6,243,874.59 fill in the column)

Asset impairment losses (losses are marked with "-"

-10,765,562.44 -18,498,451.08 fill in the column)

Asset disposal income (losses are marked with "-"

Fill in the column)

3. Operating profit (loss is filled in with "-"

53,189,260.86 38,160,596.46 columns)

Add: Non-operating income 18,200.00 137,509.09 Less: Non-operating expenses 410,984.10 358,770.53

4. Total profit (total loss is marked with "-"

52,796,476.76 37,939,335.02 fill in the column)

Less: Income tax expense 3,909,872.77 2,148,584.06

5. Net profit (net loss is filled in with "-"

48,886,603.99 35,790,750.96 columns)

(1) Classification by business continuity

Net profit from continuing operations (net loss divided by

48,886,603.99 35,790,750.96 (Fill in “-”)

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 owners of the parent company 48,886,603.99 35,790,750.96 2. Profit and loss of minority shareholders
Net after-tax other comprehensive income -850,648,440.33 -152,770.58 Other comprehensive income attributable to owners of the parent company

-850,648,440.33 -152,770.58 net amount after tax

(1) Others that cannot be reclassified into profit or loss

-846,796,080.40

Comprehensive income

Remeasure changes in defined benefit plans

Others that cannot be transferred to profit or loss under the equity method

Nanjing Yaoshi Technology Co., Ltd. 2026 First Quarter Report

Comprehensive income

Fair value of other equity instrument investments

-846,796,080.40

change

Fair value of the company’s own credit risk

change

5.Others

(2) Other comprehensive items that will be reclassified into profit or loss

-3,852,359.93 -152,770.58 combined income

Other comprehensive items that can be transferred to profits and losses under the equity method

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 -3,852,359.93 -152,770.58

7.Others

Other comprehensive income attributable to minority shareholders

net of tax

Total comprehensive income -801,761,836.34 35,637,980.38 Total comprehensive income attributable to owners of the parent company

-801,761,836.34 35,637,980.38 amount

Total comprehensive income attributable to minority shareholders

8. Earnings per share:

(1) Basic earnings per share 0.21 0.18

(2) Diluted earnings per share 0.21 0.18 If a business merger under the same control occurs in this period, the net profit realized by the merged party before the merger is: 0.00 yuan, and the net profit realized by the merged party in the previous period is: 0.00 yuan. Legal representative: Yang Minmin Person in charge of accounting work: Wu Juanjuan Person in charge of accounting department: Wang Dongyue

Consolidated cash flow statement

Unit: Yuan

Item Amount for the current period Amount for the previous period

1. Cash flow generated from operating activities:

Cash received from sales of goods and provision of services 495,133,341.92 647,144,030.74 Net increase in customer deposits and interbank deposits

Net increase in borrowing from the central bank

Net increase in borrowing funds from other financial institutions

Cash received from premiums from 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

Net increase in borrowing funds

Net increase in repurchase business funds

Net cash received from buying and selling securities on behalf of agents

Tax returns received 15,598,164.78 20,390,537.45 Other cash received related to operating activities 10,399,302.64 12,784,267.70 Subtotal of cash inflows from operating activities 521,130,809.34 680,318,835.89 Cash paid for purchasing goods and receiving services 204,066,735.81 200,191,598.39

Net increase in loans and advances to customers

Net increase in deposits with central banks and inter-banks

Cash used to pay compensation from the original insurance contract

Nanjing Yaoshi Technology Co., Ltd. 2026 First Quarter Report

Net increase in lending funds

Cash payments for interest, fees and commissions

Cash payment for policy dividends

Cash paid to and for employees 207,186,870.89 186,430,721.48 Various taxes and fees paid 26,416,136.66 20,248,054.69

Other cash payments related to operating activities 27,278,523.19 21,106,913.25 Subtotal cash outflow from operating activities 464,948,266.55 427,977,287.81 Net cash flow generated from operating activities 56,182,542.79 252,341,548.08

2. Cash flow generated from investing activities:

Cash received from recovery of investment 447,847,646.79 525,916,843.98 Cash received from investment income 4,022,264.05 4,661,672.15 Disposal of fixed assets, intangible assets and other long-term assets

372,758.80

Net cash received 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 452,242,669.64 530,578,516.13 Purchase and construction of fixed assets, intangible assets and other long-term assets

90,017,060.20 25,628,619.36 Cash paid for assets

Cash paid for investment 560,257,475.02 354,789,580.29 Net increase in pledged loans

Obtain payment from subsidiaries and other business units

net cash

Other cash payments related to investing activities

Subtotal of cash outflows from investing activities 650,274,535.22 380,418,199.65 Net cash flow generated from investing activities -198,031,865.58 150,160,316.48

3. Cash flow generated from financing activities:

Absorbing cash received from investments

Among them: subsidiaries absorb investment from minority shareholders

cash received

Obtain cash received from borrowing money

Other cash received related to financing activities

Subtotal of cash inflows from financing activities

Cash paid to repay debts 45,007,357.22 Cash paid to distribute dividends, profits or pay interest

543,715.48 825,932.28 cash

Including: Payments made by subsidiaries to minority shareholders

dividends, profits

Payment of other cash related to financing activities 296,613.19 713,211.61 Subtotal of cash outflows from financing activities 840,328.67 46,546,501.11 Net cash flow generated from financing activities -840,328.67 -46,546,501.11

4. The impact of exchange rate changes on cash and cash equivalents

-14,438,270.38 -672,170.33 impact

Net increase in cash and cash equivalents -157,127,921.84 355,283,193.12

Add: Balance of cash and cash equivalents at the beginning of the period 532,739,255.18 290,200,624.44

Balance of cash and cash equivalents at the end of the period 375,611,333.34 645,483,817.56

(2) Adjustment of relevant items in the financial statements at the beginning of the year when the new accounting standards are first implemented starting from 2026